Financial Mathematics MSc

London, Bloomsbury

The financial services industry place great emphasis on raising the level of mathematics used in banks in applications to pricing, hedging and risk management. This MSc provides students with the skills necessary in mathematics, statistics and computation for a career in this fast-developing field.

UK students International students
Study mode
UK tuition fees (2022/23)
£29,400
£14,700
Overseas tuition fees (2022/23)
£38,000
£19,000
Duration
1 calendar year
2 calendar years
Programme starts
September 2022
Applications accepted
All applicants: 18 Oct 2021 – 31 Mar 2022

Applications closed

Notification

Application closes at 17:00 GMT.

Entry requirements

A minimum of an upper second-class Bachelor's degree in a relevant discipline from a UK university or an overseas qualification of an equivalent standard.

If your education has not been conducted in the English language, you will be expected to demonstrate evidence of an adequate level of English proficiency.

The English language level for this programme is: Standard

UCL Pre-Master's and Pre-sessional English courses are for international students who are aiming to study for a postgraduate degree at UCL. The courses will develop your academic English and academic skills required to succeed at postgraduate level. International Preparation Courses

Further information can be found on our English language requirements page.

Equivalent qualifications

Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website.

International applicants can find out the equivalent qualification for their country by selecting from the list below. Please note that the equivalency will correspond to the broad UK degree classification stated on this page (e.g. upper second-class). Where a specific overall percentage is required in the UK qualification, the international equivalency will be higher than that stated below. Please contact Graduate Admissions should you require further advice.

About this degree

Students will develop a detailed understanding of the application of mathematics, statistics and computation to problems in finance, and will gain the necessary practical tools for the pricing, hedging and risk management of a diverse range of financial products in several asset classes.

Who this course is for

The programme is suitable for applicants with a first degree in mathematics sciences, engineering, finance or economics who wish to gain the skills necessary for a career or further research in this field. Evidence of ability in key areas of applied mathematics is required.

What this course will give you

UCL Mathematics is an internationally renowned department (top 20 THE World University Rankings 2022) which carries out excellent individual and group research applying modelling techniques to problems in financial, industrial, biological and environmental areas.

The department hosts a stream of distinguished international visitors. In recent years four staff members have been elected fellows of the Royal Society, and the department publishes the highly regarded research journal Mathematika.

A notable aspect of this applied Master's programme is that students will be educated to an advanced level in statistics and computing.

The foundation of your career

The financial services industry requires quantitative finance professionals who are able to analyse data, to program, and who are expert in mathematics and computational statistics. Career prospects for graduates of this programme are excellent.

Employability

Many students have progressed to careers in financial services in the City of London or in their home country; a number of graduates have proceeded to a PhD.

Teaching and learning

The programme is delivered through a combination of lectures, practical classes, tutorials and problem-solving exercises. Assessment is through written papers, coursework, examinations and the research report and presentation.

Modules

Please note that the list of modules given here is indicative. This information is published a long time in advance of enrolment and module content and availability is subject to change.

Students undertake modules to the value of 180 credits. Upon successful completion of 180 credits, you will be awarded an MSc in Financial Mathematics.

Accessibility

Details of the accessibility of UCL buildings can be obtained from AccessAble accessable.co.uk. Further information can also be obtained from the UCL Student Support & Wellbeing team.

Online - Open day

Graduate Open Events: Applying for Graduate Study at UCL

The Applying to UCL for graduate study session took place in December 2021. The session, covered by our Graduate Admissions and Student Recruitment teams, provides helpful information about the process of applying for graduate study, as well as offering an insight into what we consider to be a competitive application.

Online - Open day

Graduate Open Events: Funding your studies

The Funding your studies session took place in December 2021. The session, covered by our Funding and Student Recruitment teams, provides information and guidance about the various scholarships and funding opportunities for graduate study at UCL.

Fees and funding

Fees for this course

UK students International students
Fee description Full-time Part-time
Tuition fees (2022/23) £29,400 £14,700
Tuition fees (2022/23) £38,000 £19,000

The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Where the programme is offered on a flexible/modular basis, fees are charged pro-rata to the appropriate full-time Master's fee taken in an academic session. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website: ucl.ac.uk/students/fees.

Additional costs

All full-time students are required to pay a fee deposit of £2,000 for this programme. All part-time students are required to pay a fee deposit of £1,000.

There are no programme-specific costs.

For more information on additional costs for prospective students please go to our estimated cost of essential expenditure at Accommodation and living costs.

Funding your studies

For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website.

Brown Family Bursary

Now Closed for 2022/23
Value: £15,000 (1 year)
Criteria Based on both academic merit and financial need
Eligibility: UK

Naughton & Clift-Matthews Mathematics Scholarship

Now closed for 2022/23
Value: £15,000 (One year)
Criteria Based on financial need
Eligibility: UK

Next steps

Students are advised to apply as early as possible due to competition for places. Those applying for scholarship funding (particularly overseas applicants) should take note of application deadlines.

There is an application processing fee for this programme of £90 for online applications and £115 for paper applications. Further information can be found at Application fees.

When we assess your application we would like to learn:

  • why you want to study Financial Mathematics at graduate level
  • why you want to study Financial Mathematics at UCL
  • what particularly attracts you to this programme
  • how your academic background meets the demands of a challenging programme
  • where you would like to go professionally with your degree

Together with essential academic requirements, the personal statement is your opportunity to illustrate whether your reasons for applying to this programme match what the programme will deliver.

Please note that you may submit applications for a maximum of two graduate programmes in any application cycle.

UCL is regulated by the Office for Students.