• 12 Month Program

    12 Month Program

    In one year, obtain the desired skills for exciting careers in the expanding quantitative finance industry.

  • 90% Placement Rate

    90% Placement Rate

    Our program sees 90% of graduates working in the financial industry within a year of graduation.

  • Industry Events

    Industry Events

    M-Phimac regularly hosts industry experts to discuss current issues in financial regulation and practice.

  • An Ideal Location

    An Ideal Location

    Located less than an hour from Toronto, Hamilton is home to over 100 different waterfalls and large sections of the Bruce trail. It’s learning in an urban location for students who want the best of both worlds.

  • Hamilton Hall

    Hamilton Hall

    Our home: the most beautiful building on campus.


McMaster’s Master in Financial Mathematics (M-Phimac) program represents the next generation of training in quantitative finance. Like its predecessor, established at McMaster in 2007, the new M-Phimac provides an intensive one-year program that prepares our students for exciting careers in the finance, insurance and investment industries.

  • About M-Phimac: the Master in Financial Mathematics at McMaster

    Banking, insurance and investment offer a wide range of exciting career prospects to ambitious, quantitatively minded people. M-Phimac, a Masters level program in Financial Mathematics from the Mathematics & Statistics Department, offers a fast track option to careers such as risk management, derivative securities analysis, portfolio design and others in finance industry. With 8 specialized graduate courses in the first 8 months, followed by a major industry-related project through the summer, M-Phimac grads leave well prepared, with 90% of graduates working in the sector within a year of graduation.

  • What is it?

    Completed in one year, M-Phimac is an intensive, Masters level program specializing in Financial Mathematics. Eight months of coursework are taught by recognized experts [link to people page] who emphasize the development of both strong technical foundations and professional knowledge. Our goal to advance students understanding the applications of advanced mathematics to finance and investments. The major project, completed in the third term, explores an industry-relevant topic with guidance from an industry professional. Projects can be completed while working full time or as an intern.

  • Who is this for?

    Ambitious? A recent graduate in mathematics or a related subject such as statistics, physics, computer science and engineering? Interested in a career in finance? M-Phimac can help you achieve your goals. Our students have a minimum B+ average across their level 3 and 4 undergraduate courses. Beyond academic achievement, they have determination, analytical expertise, excellent communication skills and computer programming skills.

  • What will you gain?

    Our students develop a competitive advantage in exciting careers in the expanding quantitative finance industry. Mastery of sophisticated mathematical techniques and a deep understanding of financial securities and their uses give our graduates have the confidence to face the challenges of the managerial level in finance. They have the tools they need to become a bank financial modeler, a trading analyst in an investment firm, or a risk quant in insurance. Within a year of graduation, 90% of graduates are working in the sector.

  • Letitia Golubitsky, Ph.D, Senior Specialist, BMO
  • Robert Axente, Associate, BMO Financial Group
  • Sasha Tailor, Market Risk Analyst, RBC Capital Markets
  • Pejman Salem, Senior Analyst, TD Securities
  • Kristen MacDonald, Senior Auditor, TD Bank Financial Group
  • Chrismos Egbewole, Manager, Ernst and Young
  • Letitia Golubitsky, Ph.D, Senior Specialist, BMO

    The program has taught me rigorous mathematics, computing, theory and modeling, and practical finance. I found the classes extremely well organized and focused on important theoretical aspects of financial modelling.
    The professors have a well respected expertise in various areas of financial mathematics: from stochastic calculus to introduction to financial markets. I have background in pure mathematics and without this program would have been much harder to shift to financial mathematics that deals with real world problems of high complexity. The course on statistics was very well received by all of us and since I landed in industry I use everything I have learned every day. The courses studied in the Phimac program gave a very good start in my first job and put me ahead of other peers who didn't have a master in financial mathematics. I strongly recommend pursuing a Master in Financial mathematics at Phimac if you are planning to change your career to finance.

  • Robert Axente, Associate, BMO Financial Group

    The M-PhiMac program was a rewarding and enriching experience. The skill set developed by the program was a tremendous asset for retaining employment since it set me apart from other applicants who had strong quantitative backgrounds but lacked a well-rounded exposure to finance.

  • Sasha Tailor, Market Risk Analyst, RBC Capital Markets

    The M-Phimac program not only gave me a strong foundation to meet the demands of my workplace, but also connected me with my current employer. My success in the interview process was largely due to the preparation I received from M-Phimac.

  • Pejman Salem, Senior Analyst, TD Securities

    Applying for M-phimac was perhaps the best professional decision I have made in my life. The intimate environment at M-Phimac combined with the abundance of leading industry and academic knowledge of the faculty members makes it a perfect choice for any prospective applicant.

  • Kristen MacDonald, Senior Auditor, TD Bank Financial Group

    To anyone considering this program, congratulations on considering a valuable and worthwhile start to your career. Although the program is challenging, you are supported by a network of hardworking and intelligent people (even after you graduate!). Your classmates are your teammates as you gain an invaluable understanding of how to apply your quantitative knowledge to finance and banking. I count my classmates as not only respected industry colleagues, but also great friends.

  • Chrismos Egbewole, Manager, Ernst and Young

    M-Phimac is the best decision I made as an international student living thousand miles away from my hometown. The curriculum breaks the gap between theory and practice and prepares for a smooth transition into the financial industry.
    The program enhanced my interpersonal skills, which now allows me to build excellent relationships with line of business and stakeholders. Whenever I look back to my time at McMaster, I am grateful for the M-Phimac experience, and thankful to the professors and peers that have inspired me.

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Tom Hurd presents Revisiting Contagion at the SIAM Financial Mathematics and Engineering Conference. You can follow or join the collaborative effort at the Fields-CQAM Systemic Risk Analytics Labs https://www.cqam.ca/systemic-risk-analytics
McMaster University - Faculty of Science | Math & Stats