Studying Finance at Illinois Tech
Illinois Institute of Technology appears in our ranking of the 25 Great Master of Financial Engineering Programs.
Founded in 1969 in Forbes’ 76th best city for careers, the Stuart School of Business confers the B.S.B.A. Finance Specialization for Illinois Institute of Technology undergrads seeking high-powered money management skills. Overseen by Dr. John Twombly, the 126-credit, eight-term program has an average class size of 31 for interdisciplinary team projects that build strategic competitiveness. After the First-Year Experience, expect engaging content on Futures Options, Valuation, Managerial Accounting, Financial Economics, and more. Seniors spend 32 hours weekly in workplace immersion at Chicago Loop companies like Ernst & Young, JPMorgan Chase, Groupon, Exelon, and Aon. Majors might also enter the CQA Investment Challenge, join Net Impact, study in Hong Kong, pledge Beta Gamma Sigma, pursue the Five-Year BSBA/MSF, and engage in the Center for Financial Innovation.
Reporting a 98 percent outcomes rate, the Illinois Institute of Technology’s Master of Business Administration builds a broad-based, market-driven platform for 14 concentrations, including Corporate Finance. The 48-credit, traditional track headed by Dr. Harvey Kahalas ends with a capstone after courses like Game Theory, Customer Value, and Multicultural Leadership. For working adults, the 36-credit Accelerated MBA takes six terms part-time with Saturday courses Downtown. Chaired by Dr. John Bilson, the Master of Science in Finance aligns to CFA certification with in-depth asset analysis practice. This 33-credit, non-thesis degree lets post-grads select 12 concentrations, such as Financial Engineering, Econometrics, High-Frequency Trading, and Risk Management. Another 33-credit, specialized option is Illinois Tech’s Master of Mathematical Finance, which advances quantitative computational skills.
About the Illinois Institute of Technology
The Illinois Institute of Technology was formed in April 1940 when the Cook County Circuit Court approved the merger of the Armour Institute and Lewis Institute. By 1969, it acquired the Chicago-Kent College of Law and Institute of Design. Two years later, IIT created one of the country’s first Full-Time MBA programs at a tech-based university. Specially accredited in 1999, the Illinois Institute of Technology created the University Technology Park to launch startups. Boasting $39 million in research funding, the private, space-grant AITU member currently serves 7,266 Scarlet Hawks, including Finance majors, from 100 nations. Illinois Tech has trained over 77,000 alumni like Robert Pritzker, John Calamos, and Sam Pitroda at four Chi-Town campuses.
The U.S. News & World Report ranked Illinois Tech the 103rd best national university and 634th best global college. On Niche, IIT has America’s 78th best professors, 111th top math department, and 181st hardest academics. Granted the 2018 North America WRDS-SSRN Innovation Award, the Stuart School was placed 33rd globally by Financial Times. The Master of Mathematical Finance was named 25th overall on QuantNet. IIT finance majors won the 2012 CFA Institute Research Challenge championship. The Aspen Institute included the MBA within its top 100 globally for sustainability. Forbes crowned Illinois Institute of Technology the 102nd best research institution and 184th best value. The CWUR noticed Illinois Tech for the 105th best alumni employment and 291st top education.
Illinois Institute of Technology Accreditation Details
In March 2012, the Higher Learning Commission of the North Central Association (HLC-NCA) approved the financial panel recommendation from the Illinois Institute of Technology to reaffirm the Level VI accreditation for another 10 years now under its ninth president, Dr. Alan Cramb. Located just four miles north near Chicago’s Board of Trade, this mega 19-state Midwest accreditor is authorized by the U.S. Department of Education to investigate the effectiveness of IIT’s 49 baccalaureate, 121 master’s, 87 certificate, and 28 doctoral options from Wheaton to Summit. The Stuart School met all 21 quality standards of the elite Association to Advance Collegiate Schools of Business (AACSB) in Spring 2013 too.
Illinois Institute of Technology Application Requirements
Entering Illinois Institute of Technology is considered “moderately difficult” by Peterson’s because just 52 percent of the 4,403 Fall 2016 applicants were admitted. First-year Scarlet Hawks clawing into the B.S.B.A. Finance Specialization must finish a high school curriculum with four years of Math. Minimum grades aren’t posted, but freshmen have a mean GPA of 3.98. On average, undergrads score 1300 on the SAT and 28 on the ACT. Already enrolled bachelor’s students transfer up to 68 credits graded “C” or better, especially from partners like Harper College, Morton College, and Prairie State College. The graduate benchmark for the MBA and Master of Science in Finance is a minimum bachelor’s GPA of 3.0. Post-grads need at least a 298 GRE score or 500 GMAT score. Testing waivers are only available for 5+ years of experience.
The Illinois Institute of Technology set undergrad deadlines of December 1st for Spring and August 1st for Fall. International students apply until November 15th and May 15th respectively. The Stuart School of Business has priority dates of May 1st and October 31st for master’s cohorts. Log into the IIT Applicant Portal or submit the Common Application online. Extra materials are mailed to Perlstein Hall Room 101 at 10 West 33rd Street in Chicago, IL 60616. Please contact (800) 448-2329 or admission@iit.edu for further help. Future financial gurus analyze their applications for the following:
- Copies of original transcripts by PDF
- Official SAT, ACT, GRE, or GMAT scores
- Professional statement of 500-2,000 words
- Current résumé of business experience
- Two electronic reference invitations
- $75 credit card payment (grad only)
Tuition and Financial Aid
For 2018-19, the Illinois Institute of Technology will charge full-time B.S.B.A. Finance Specialization students $45,872 for annual tuition. Added expenses include the $450 co-op fee, $125 activity fee, $432 student service fee, and $155 UPass fee. Unless waived, health insurance bills $1,483 each semester. Living at the Chicago campus’ dorms like Gunsaulus Hall costs $12,762 per year. Illinois Tech budgets $1,250 for textbooks, $1,170 for transport, and $2,500 for miscellaneous. Annual bachelor’s attendance equals $63,749 on-site and $52,972 with family. The Stuart School presently prices each credit at $1,725. Therefore, the MBA bills $82,800 and the M.S. in Finance costs $56,925 total.
According to the NCES College Navigator, 98 percent of full-time IIT Scarlet Hawks soar with mean financial aid offers of $30,376 each for $83.1 million university-wide. Institutional funds include the Launch Scholarship, Chicago Innovation Award, Graduate Pathways Scholarship, Duchossois Leadership Scholarship, Camras Scholarship, Crown Scholarship, Heald Scholarship, and Elevate Experiences Scholarship. Illinois Tech alumni snag 33 percent tuition discounts for MBA or MSF courses. Finance undergrads filing the FAFSA application with code 001691 earn Federal Pell and Supplemental Educational Opportunity Grant money. Land of Lincoln natives might claim the Monetary Award, Bruce Fishkin Scholarship, George M. Pullman Scholarship, Illinois AMVETS Veteran Scholarship, and more. Master’s students apply for graduate assistantships until August 1st. Illinois Institute of Technology learners also secure Direct, Perkins, Plus, and private loans for a median debt of $23,250 in Money.
Learn more about the Illinois Institute of Technology at the Harold L. Stuart School of Business website.
