Columbia's MA in Mathematics of Finance (MAFN) is a 30-credit master's degree run by the Department of Mathematics in New York City, and the final deadline for Fall 2027 is April 8, 2027. The GRE and GMAT are strongly encouraged but not required, and the program says the GRE is preferred. Current undergraduates, and anyone finishing an undergraduate degree after December 1, 2026, are strongly encouraged to use the January 5, 2027 early decision deadline.
I'm Fiona Taft, founder and CEO of QuantMinds, former Executive Director of UC Berkeley's MFE program and former Associate Director at Stanford University. Program details come from the MAFN program's official pages, checked November 2026. This is the Department of Mathematics program, run separately from Columbia's engineering school programs. For advice that applies to every program, see my guide on how to choose a quant master's program.
Columbia MAFN at a glance
| Detail | Columbia MAFN |
|---|---|
| Degree | MA in Mathematics with a specialization in the Mathematics of Finance, offered by the Department of Mathematics and co-sponsored by the Department of Statistics |
| Credits | 30, with a cumulative GPA of at least 3.0 |
| Length | Two or three semesters full-time, up to four years part-time |
| Location | Mathematics Hall, 2990 Broadway, New York |
| Starts | Fall and Spring. Spring 2027 closed on October 29, 2026 |
| Fall 2027 deadlines | Early decision January 5, 2027. Final deadline April 8, 2027, for supporting materials too |
| Tests | GRE or GMAT strongly encouraged, not required. GRE preferred |
| Deferrals | Not allowed. You reapply the next year |
The program doesn't publish a class size. It says it receives over a thousand applications a year and reports more than 1,400 alumni in 42 countries.
What kind of program this is
MAFN is built for people with a strong quantitative background. The admissions page says applicants typically come from mathematics, statistics, physics, economics, computer science or engineering, and most have work or internship experience in finance. It's a math degree first, with finance applied on top of it.
Two things shape how you plan. First, Fall 2027 applicants who finish an undergraduate degree after December 1, 2026, or who are still undergraduates, are strongly encouraged to use the January 5 deadline. Second, the program is also open to working professionals. Required courses are generally scheduled in the late afternoon, evening or on weekends, and two core courses currently start at 4:10 p.m. on weekdays. The program says part-time students need some flexibility in their work hours, and it can't promise every course will run outside business hours.
Curriculum
The degree requirements page lists these mandatory courses.
- Introduction to the Mathematics of Finance, taken in your first semester
- Numerical Methods in Finance
- Statistical Inference and Time-Series Modeling
- Stochastic Processes, Applications I, then Stochastic Methods in Finance
- The Practitioners' Seminar, at least one of the fall or spring courses at 1.5 credits each
The rest of your 30 credits are electives at the 4000 level or above, taken in person for a letter grade and related to the mathematics of finance. Approved departments include Mathematics, Statistics, Computer Science, Economics, IEOR, the business school and SIPA. The program's own electives on its curriculum page include Quantitative Methods in Investment Management, Capital Markets and Investments, Hedge Funds Strategies and Risk, and Non-Linear Option Pricing.
The program calls the Practitioners' Seminar a distinctive part of the degree, because industry specialists in quantitative finance teach it every semester. If you've already taken a substantially equivalent course, you can request a waiver of a mandatory course, but only once, at the start of the program, and you still need 30 credits.
Full-time students finish in two semesters or three. The program says most students choose three, often to leave more time for internships and the job search.
Admission requirements
The admissions page asks for a very good working knowledge of calculus, linear algebra, elementary differential equations, probability and statistics, and a programming language. Advanced calculus and analysis, including measure theory, are desirable but not required. If you want to check your math first, here's the math you actually need to break into quant finance.
- Statement of academic purpose. One page, read together with your resume. State your main goal, what you've done toward it, and why this program fits.
- Resume. It must follow the program's resume guideline, including whether each internship was remote or in person and your GPA if it's not shown on your academic records.
- Letters. At least two academic references. An internship supervisor is welcome if the internship was in person and lasted at least two months. If you've been out of school three years or more, you can request a waiver of the second academic letter and send one academic and one professional letter.
- Tests. GRE or GMAT scores are optional, and the GRE is preferred. English requirements for international applicants sit on Columbia's graduate school pages.
- Interview. Some applicants are invited to an online interview. The program says missing it may delay your decision and hurt your outcome.
You apply through Columbia's Graduate School of Arts and Sciences portal. Scores and materials sent by email generally aren't considered. The program also says it can't review your coursework in advance or hold one-on-one Zoom meetings with prospective applicants.
Fall 2027 timeline
- January 5, 2027. Early decision deadline. Complete applications by then are reviewed for early decision, with notifications through late February.
- April 8, 2027. Final deadline for Fall 2027, including supporting materials.
- Mid-January to mid-June. Decisions are released on a rolling basis.
- Summer before you start. The program's summer page describes virtual career workshops and one-on-one advising for admitted Fall students, with the 2026 calendar posted so far.
Costs
The program publishes no tuition figure of its own. It says tuition follows Columbia's residence unit system rather than a per-course charge, and it sends you to the Graduate School's cost of attendance page for estimates, which may not cover future semesters yet. Taking more than two semesters adds tuition and other charges. The program says Columbia offers no financial aid to Mathematics of Finance students, though some get support from employers or outside agencies.
Careers and outcomes
The career development page reports results for the Class of 2025. Of 101 full-time graduates, 72 were looking for employment. Of those 72, 39 (54%) were employed before graduation, 49 (68%) within three months and 54 (75%) within six months. The program counts 35 of the 72 jobs (49%) as US-based, with an average US base salary of $121,071. It also lists 21 graduates it couldn't track and 8 who weren't job hunting.
Graduates take first jobs mostly in investment banks, financial services, asset management, consulting and technology. Employers listed for the February and May 2025 graduates include Goldman Sachs, JP Morgan Chase, Barclays, Optiver, WorldQuant and QRT. Support includes GSAS Compass career services, technical mock interviews, salary workshops and an alumni mentorship program.
The program also says it has a STEM designation, which makes F-1 students eligible for 12 months of OPT plus a 24-month extension. Its admissions FAQ adds that MAFN students are currently not eligible for CPT under August 2026 federal guidance, so check with Columbia's international students office before you plan an internship.
How I'd approach the application
Start with the role you want, because it decides whether a math-heavy degree like this fits. If you're aiming at quant research or modeling, the pricing and stochastic calculus core is the point. If you're drawn to trading or buy-side work, read our guide on quant research, trading and development paths first.
Then check your foundations the way the program does. Look at probability, linear algebra and programming and ask where the gaps are. Be straight with yourself, and use your statement to explain anything your grades don't show.
And don't wait for April. The program reviews on a rolling basis and offers an early window, so I'd rather you finish your essay and letters early than rush them against the final deadline.
Frequently asked questions
Is the GRE required for Columbia MAFN?
No. Scores are optional, but they have to arrive through the application portal, because the program doesn't consider scores sent by email.
Can I study MAFN part-time while I work?
Yes, with limits. Part-time students have up to four years, and you choose full-time or part-time when you register for classes. The program warns that some required courses start at 4:10 p.m. on weekdays.
Can I defer my admission?
No. The program says there are no exceptions, and anyone who wants to delay a year has to reapply.
Is MAFN the same as Columbia's engineering school programs?
No. MAFN is run by the Department of Mathematics, with its own admissions page, deadlines and requirements. Use the MAFN pages when you plan your application.
Get a second opinion
If you'd like another set of eyes on whether MAFN belongs on your list, or on how your math and statement read, request a free Discovery Session, a Zoom session with one of our coaches, and we'll work through it together.