Study equations that include dollar signs
In one of the most advanced undergraduate finance programs in the world, you’ll focus on the math behind financial markets.
Offered jointly by the Department of Pure Mathematics and the Department of Statistics and Actuarial Science, Mathematical Finance is designed for students with elite mathematical abilities who wish to pursue finance combined with pure mathematics.
Our challenging curriculum includes courses on corporate finance, mathematical finance, asset-liability management, statistics, and forecasting. It also provides a co-op stream where students can gain up to two years of paid work experience.
This is a degree that can launch your high-flying career in banking and finance.
First faculty of mathematics in North America
Waterloo is an international leader in Mathematics
Mathematical Finance admission requirements
Apply to Mathematics and choose Mathematical Finance as your major at the end of first year. Once you've applied, you'll need to complete the Admission Information Form as part of the application process.
We strongly encourage you to participate in the Canadian Senior Mathematics Contest and/or the Euclid Mathematics Contest to enhance your admissions status.
To be considered for entrance scholarships in the Faculty of Mathematics, you must write one or both of the contests. If you complete both contests, we'll use the results of the contest in which you performed best.
The Mathematical Finance program allows you to explore your interests in finance and theoretical math simultaneously.
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First-year courses and beyond
You may select advanced-stream courses for algebra, calculus, and computer science if you meet the requirements.
September to December
- MATH 135 - Algebra
- MATH 147 - Calculus 1 (Advanced level)
- Choose one of:
- CS 115 - Introduction to Computer Science
- CS 135 - Designing Functional Programs
- One communication skills course
- One elective
January to April
- MATH 136 - Linear Algebra 1
- MATH 148 - Calculus 2 (Advanced Level)
- Choose one of:
- CS 116 - Introduction to Computer Science 2
- CS 136 - Algorithm Design and Data Abstraction
- Two electives
Note: You're encouraged to take three courses from AFM 101, AFM 102, AFM 131, ECON 101, and ECON 102 using your first-year electives to satisfy the degree requirements for Mathematical Finance.
Sample upper-year courses
ACTSC 372 – Corporate Finance
CS 335 - Computational Methods in Business and Finance
PMATH 451 - Measure and Integration
STAT 443 - Forecasting
Customize your Mathematical Finance degree
You can add additional areas of expertise to your degree by including one or more of the minors available to all Waterloo students.
Co-op = relevant paid work experience
By alternating school terms and paid co-op work terms throughout your degree, you can explore new career areas and types of employers as your career interests evolve.
Sample co-op job titles
- Product manager assistant
- Security developer
- Quality assurance technician
- Risk analyst
- Trading products quantitative analyst
- Business application developer
- Data governance analyst
- Trading products quantitative analyst
Sample co-op employers
- AVIVA - COFCO Life Insurance
- CPP Investment Board
- Scotiabank
- Manulife Financial
- Pitney Bowes
- Bank of Montreal
- OMERS
- Pacific Services Canada Limited
What can you do with a degree in Mathematical Finance?
Waterloo Mathematical Finance graduates often pursue careers in investment banking, financial analysis, and more. They typically work in financial institutions, investment companies, and more.
Recent graduates
- Investment Analyst – Manulife Financial
- Data Scientist – EMAGIN Clean Technologies
- Risk Analyst – TD Bank Group
- Associate Director, Counterparty Credit Risk – RBC Capital Markets
- Quantitative Investment Associate – Putnam Investments
- Quantitative Portfolio Manager – Lombard Odier
- Risk Modelling Analyst – TD Bank Group
Learn about the future of careers in business.
Student life, including women in mathematics
Math Society (MathSoc)
MathSoc is run by students for students and provides a wide range of clubs and services as well as social and academic events to make your experience as a Waterloo Mathematics student the best it can be. There are many ways to get involved and to meet students in other Faculty of Mathematics programs.
Women in Mathematics
The Women in Mathematics (WiM) community encourages and advocates for women of all ages who are interested in studying math and pursuing a career in a related area. WiM strives for all genders to be well-represented in mathematics and welcomes people with under-represented gender identities.
Women in Computer Science
Women in Computer Science (WiCS) promotes gender equity for students interested in studying computer science and pursuing career in computing. WiCS has a very active student-run committee and offers events such as the Big CSters mentoring program, workshops, a speaker series, and panels about diversity in computer science and STEM.
There's also Women in Science, Technology, Engineering, and Mathematics (WiSTEM), a student-run club that welcomes all students (regardless of gender) to promote equality in STEM. Opportunities include skills workshops, discussions, homework help, and guest speakers.
Apply to Mathematics and choose this major at the end of first year
Earn a Bachelor of Mathematics in Mathematical Finance
Ready to learn more?
Social and academic support
Whether you’re looking for a study group or a night out with your classmates enjoying chicken wings, the Math Finance Student Association has you covered.
Available as a 
Offered by the Faculty of Mathematics
