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How to get Masters financial support?

  1. Sep 8, 2007 #1
    Is it possible to get a masters fellowship? If I dont get into a PhD program I plan on applying to 2 or 3 financial mathematics masters programs, some of them run up to $40,000-$50,000 for the duration of the program.

    If there is no way to get a masters fellowship, is there anyway to find a job where the company will pay for me to go part time? Like where I start on day one, and on that day they already have agreed to pay for my financial mathematics degree.
  2. jcsd
  3. Sep 8, 2007 #2
    It is unlikely to receive fellowship support as a masters student, because the purpose of most fellowships is to give promising PhD students more flexibility in the early stages of their program of study. You could try to get a teaching assistantship, but PhD students are usually given priority over masters students. In some career fields (most notably engineering) employers will support masters study, but since it's unlikely that you're currently working as a quant without a financial mathematics degree, it's unlikely that you will be able to find an employer willing to pay for your degree up front. Realistically you will probably have to take out some student loans to pay for this degree. The silver lining is that, if the programs really do only cost $40,000-50,000 to complete, you should be able to pay off those loans relatively quickly working as a quant. (According to Mark Joshi, quants with no experience typically earn between 35,000 GBP and 50,000 GBP a year, which works out to roughly $70,000-100,000 a year.)
  4. Sep 8, 2007 #3
    I disagree with the previous poster and say that is should be possible and relatively easy to get a fellowship in mathematics, even if (or especially since!) you're a master's degree student.

    Math teaching assistants for introductory math classes, labs, and grading are in very high demand. Many universities even require their math graduate students to have a teaching assistantship at some point. If you don't have research commitments, professors may find you even more attractive a candidate to help with their classes.

    If you do plan to do research as a master's student, you could look into applying to outside fellowships from the government or a national organization.
  5. Sep 8, 2007 #4
    Yes, it is possible but bear in mind that most colleges prefer to give fellowship over Ph.D students.
  6. Sep 9, 2007 #5
    I am in Financial Maths Programme. Most programme in US does not offer financial support at all in term of RAship and TAship. You might be able to find a job but in this short period of time.
  7. Sep 9, 2007 #6
    I applied to a master's physics program (didn't actually go, since I got into a PhD program elsewhere). They offered me both a teaching assistantship and a fellowship. Also, in my physic department, all of the master's students are supported by teaching assistantships during the academic year, and research assistantships for their summer in between the two years. Of course, I don't know how it works in mathematics.
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