Admission Requirements | Master in Quantitative Investment Management | Faculty of Management | UNB

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Faculty of Management
UNB Fredericton

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Admission requirements

The application deadline for the Master in Quantitative Investment Management program (for 2021-22) is March 31. We are looking for students with strong academic backgrounds and quantitative skills. Admission is competitive; meeting all requirements does not guarantee admission.


  • Undergraduate degree: bachelor's degree from a recognized university. Preference will be given to applicants with degrees in mathematics, statistics, computer science, science, engineering, business or economics 
  • Minimum grade: a B average or cumulative grade point average (CGPA) of 3.0 out of 4.3
  • Quantitative proficiency: Minimum GMAT of 600 or equivalent GRE result and strong, recognized quantitative background
  • Computer programming skills are strongly recommended
  • Pre-requisite course: Successful completion of a university-level economics course

English proficiency

Applicants whose primary language is not English, or whose previous education was conducted in another language, must submit evidence of satisfactory completion of a standardized English test.

  • Minimum score of 94/120 (Internet-based) on the Test of English as a Foreign Language (TOEFL), or
  • Minimum score of 7/9 on the International English Language Testing System (IELTS) Academic Module.


The following documents will be required:

  • Official transcripts of all undergraduate and graduate work. Because grading scales are different from country to country, we recommend international applicants submit a WES ICAP evaluation. This is optional, but will expedite the review and decision process.
  • Statement of purpose
  • Official GMAT result (minimum score of 600) or the corresponding GRE result. The GMAT can be waived if certain criteria are met (see below)
  • Official TOEFL or IELTS result
  • Detailed resume of academic studies, work experience, and computing skills and experience
  • Three reference letters, at least one of which is from a professor

Common questions

GMAT/GRE waiver

You should meet one of the following criteria to be considered for a GMAT/GRE waiver:

  • Master's degree in engineering, mathematics, statistics, computer science, science, finance, economics, business or other related field
  • Professional designation in the field of finance, accounting (e.g., CFA, CPA) from North American professional bodies
  • Undergraduate degree in engineering, mathematics, statistics, computer science, science with a minimum CGPA of 3.7/4.3.

International students: due to different grading schemes across nations, your stated CGPA might not match with our system.  

Please note that time elapsed from your previous degree will also be a factor in considering the waiver
If you would like to request to waive your GMAT/GRE, please do so when applying for the program. Based on all of the documents you provide (transcripts, courses you took, CV, etc.), a committee will decide about your request.

Please note that admission to the program is competitive, so meeting the requirements does not guarantee a waiver or admission to the program.

Advanced standing

Professional designations

Normally, advanced standing is not provided for those with professional designations (e.g., CFA, risk management certification). The focus of this program is application of quantitative techniques in various facets of investment. This involves analysis of large data, application of statistical techniques, developing algorithms and coding that are not covered in depth in professional designations.

Previous coursework

Normally no advanced standing will be given, as the program is application-oriented. If you have taken a similar course at a graduate level and wish to apply for advanced standing, our program committee can look at the course outline; textbook and other material used; evaluation method; and other factors to come to a final decision.

Coding prerequisites

Prior exposure to languages such as R, Python and Matlab is an asset, but not a prerequisite.

The MQIM program's three-week, mandatory boot camp provides you with basic knowledge of coding in high-level computer language, financial databases, quantitative methods, financial markets, corporate finance and accounting.

For more information

Contact us at or 506-458-7510.