Overview

This Actuarial Science and Quantitative Finance programme offered by University of Waterloo prepares researchers to conduct original investigations in actuarial science, finance, probability, and related quantitative disciplines. Designed for students with strong mathematical and statistical backgrounds, the programme emphasizes rigorous analytical methods and the development of new knowledge that advances both theoretical understanding and professional practice. Students engage in advanced research within a vibrant scholarly environment while building expertise in quantitative approaches to risk, uncertainty, and financial systems.

Key Facts

Research opportunities span actuarial applications, theoretical developments, financial modelling, and probabilistic analysis. Through independent dissertation research and close engagement with faculty, candidates develop sophisticated analytical, methodological, and problem-solving skills applicable to a wide range of complex challenges. The programme prepares graduates for leadership roles in academia, government, business, industry, and research organizations where advanced quantitative expertise is highly valued.

Programme Structure

Research fields

Actuarial Science Practice
Actuarial Science Theory
Finance
Probability
Risk Analysis
Financial Modelling
Quantitative Finance

Key information

Duration

Full-time
- 48 months

Start dates & application deadlines

Starting 2027-09-03 00:00:00
- Apply before 2026-12-01 00:00:00

Language

English

TOEFL^® IBT

OR

90

Schedule TOEFL®

PTE Academic

63

Schedule a PTE test!

IELTS

7

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Delivered

On Campus

Campus Location

Waterloo, Canada

Disciplines

Actuarial Science

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Academic requirements

We are not aware of any specific GRE, GMAT or GPA grading score requirements for this programme.

English requirements

TOEFL^® IBT

OR

90

Schedule TOEFL®

PTE Academic

63

Schedule a PTE test!

IELTS

7

Prepare for Your English Test

Cathoven AI IELTS Preparation

Learn your IELTS Score

AI-powered IELTS feedback. Clear, actionable, and tailored to boost your writing & speaking score. No credit card or upfront payment required.

Trusted by 300k learners
98 accuracy using real exam data
4.9/5 student rating

Other requirements

General requirements

A Master's degree in statistics, actuarial science, or mathematics, completed or expected. Note: graduates of other quantitative and mathematically oriented programs are also encouraged to apply; this includes, but is not restricted to, graduates of commerce, economics, engineering, finance, and any of the physical sciences. The department graduate committee will determine the suitability of each student’s background for success in this program.*
Students with an undergraduate degree in statistics, actuarial science, or mathematics may apply for admission directly to the PhD program. Successful applicants will have an outstanding academic record, and very strong letters of recommendation.*
At least an overall 78% average from a Canadian university (or its equivalent)
An interview may be required

Student Insurance via Studyportals Partner

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Tuition Fees

Tuition fees are shown in and the most likely applicable fee is shown based on your nationality.

International Applies to you

Applies to you

Non-residents

14792 CAD / year

≈ 14792 CAD / year
Domestic Applies to you

Applies to you

Citizens or residents

4596 CAD / year

≈ 4596 CAD / year

Living costs

Waterloo

Canada

810 - 1447 CAD / month

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

Funding

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Scholarships Information

Below you will find PhD's scholarship opportunities for Actuarial Science and Quantitative Finance.

Available Scholarships

You are eligible to apply for these scholarships but a selection process will still be applied by the provider.

About

Overview

Key Facts

Programme Structure

Key information

Duration

Start dates & application deadlines

Language

Prepare for Your English Test

Delivered

Campus Location

Disciplines

What students do after studying

Academic requirements

English requirements

Prepare for Your English Test

Other requirements

General requirements

Student Insurance via Studyportals Partner

Tuition Fees

International Applies to you

Domestic Applies to you

Living costs

Waterloo

Funding

Scholarships Information

Available Scholarships

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