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MSc Finance -Illinois Tech (IIT)


Graduate Student
Got some additional information for the High Frequency Finance concentration.

It will be an extension of the financial programming concentration. The concentration will involve doing a course in Algorithmic Trading Systems Development and one in High Frequency Trading Models. Lots of programming will be involved.

IIT's curriculum is looking more interesting. A lot of options!!

Joy Pathak

@ Joy Pathak - did u get any info about the on-campus jobs at IIT?
It's hard to do a part-time job while going to university full-time in an MFE type program. The workload is just too much. There are RA positions for qualified students.

Also, you're in downtown Chicago. There are lots and lots of part time jobs. Whether you want to work at the subway/starbucks or an investment bank/quant fund next door. Many students apply to round the year internships and work part-time and take a lower course-load. A friend of mine is doing that right now. He started last year 2009, applying for Winter internships, and dropped his course-load from 4 to 2 for the winter semester and did a winter internship helping develop quantitative investment strategies for a firm less than 5 min walk from his classes. He is an international student from India. He switched to a different fund to do a summer internship now. Another guy (american) was working for BMO through the summer part-time and going to school full-time, he is going to continue to work part-time with them. I think many firms nearby offer winter and fall internships and offer part-time positions to students to get "cheap labor" possibly. It's a win win situation. It's up to you to go out and apply and attain these positions or have the profs who work there help.

The main campus might have more part-time jobs also.

---------- Post added at 02:21 PM ---------- Previous post was at 01:20 PM ----------

IIT's curriculum is looking more interesting. A lot of options!!
It definitely is. The new High Frequency Finance course is going to be really interesting. The director is in the works and is working on a proposal with CME to get access to a Cray Supercomputer for the HFT class. I don't have full details yet, but it is something along those terms. It should be all set for the class which will be in Winter 2011. :)

Joy Pathak

@ Joy Pathak - Did you see the new review about IIT? Its really scary, the sort of review the person has written... what do you think about it?
Review of Illinois Institute of Technology MS Finance program | Quant Network
People have bad experiences in all programs. There are really few programs where we have seen 0 bad comments. Even Berkeley had a bad review.

If you see my comments from before, I have always stated that the career management center needs change. I had assumed since many professors are in the industry they must assist with jobs. From some of the profiles on LinkedIN I saw, I did see many students working upon graduation at similar companies as the professors. Maybe they are very selective. In addition if you look through the other reviews basically every person on there talks about the Career services and how it needs a complete overhaul. As an international student it is very tough to goto a school like IIT or any at same level and try to get a job through the school. One has to be severely pro-active. The school needs to put up their Employment Statistics and I have told the program director this also.

I never experienced the program first hand. For what I wanted in a program IIT fit most of those needs. But that is VERY SPECIFIC to me as I have stated in my previous posts. Obviously Baruch is a much better fit.

At least it's good to see all the spectrum's of a program. The QuantNet reviews are a great thing. It truly gives students a chance to portray their programs in the true light.

Do remember, it is one student out of the 200+ students in their Ms Finance program. Maybe some current students at IIT can comment on this better.


Well-Known Member
If you see my comments from before, I have always stated that the career management center needs change.
Even with vigorous career placement services, second-tier and junk programs are going to have a problem placing students: there are simply too many programs and too many students graduating from them. The problem is becoming analogous to that of law, where the second-tier and toilet-tier law schools are teaching something -- after all, the students have to get through the bar exam, thus ensuring a minimum competence -- but where the sheer force of numbers means few are going to find real jobs.

Andy Nguyen

IIT has two programs, one is the more popular program Master in Finance judging by the number of reviews we received from their graduates (6).
The other program is Mathematical Finance (MMF) which by many students account is overshadowed by its MS in Finance counterpart.

We are having a few MMF students and alumni on our site and there are more reviews to come.
Here is the first review of the MMF program
Review Illinois Institute of Technology Mathematical Finance | Quant Network


Graduate Student
Today we received a new review of the IIT MS Finance program using the new review format. please let me know what do you think of the new format vis-a-vis the old one which we have used for years.
More information about any particular program is always good.. but the new format puts out a lot less info about programs. A review is supposed to informative, and if someone cannot dedicate 20-30+ minutes on the older/longer format then maybe they shouldn't be writing a program review in the first place


New Member
I might go there in June to check out the school.Does US allows any Canadian works in the financial industry?

Andy Nguyen

It may look like less info but it's essentially asking the same topics in less cluster. I feel the old format with the Q/A is too distracting for the flow. After a while, everyone will be saying the same thing about whether the program has refresher course/teaching material/programming language.

The free-style review is a lot easier for people to pour their emotional out. Like everything else, it's hard as is to get a review and if they don't want to share, it doesn't matter what format we use. The more intimating the questionnaire looks, the less likely people will want to do it.


New Member

Since this is a very old thread, would like to know thoughts on IIT right now. I've been admitted to it's MS Finance course and have it deferred for the spring semester given the current situation of Covid 19. If anyone here is till active pls let me know if IIT is a good school for its MSF course. Ranking wise financial times ranked it pretty high for the years 2016,17,18 but not in 2020 anymore. I had a look at its electives and found it very flexible given the range of subjects it offers compared to ANY other college. Also, now that Chicago has other schools like UIUC that offer an MSF as well, how is an IIT MSF perceived in the industry.

My background, I have a 2+ years of work ex with India's leading commodity derivatives stock exchange. Computer science engineer with a decent university in Mumbai but not so decent grades. Stellar performer at work with LORs and rating as proof.

Would love to know anyone's views.