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Financial Mathematics MSc

London, Bloomsbury

The financial services industry places 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 (2026/27)
£25,300
£12,650
Overseas tuition fees (2026/27)
£46,700
£23,350
Duration
1 calendar year
2 calendar years
Programme starts
September 2026
Applications accepted
Applicants who require a visa: 20 Oct 2025 – 27 Mar 2026
Applications close at 5pm UK time

Applications open

Applicants who do not require a visa: 20 Oct 2025 – 28 Aug 2026
Applications close at 5pm UK time

Applications open

Apply for this course

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.

The English language level for this course is: Level 2

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.

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.

Read about what it takes to study for a Master's at UCL

What this course will give you

UCL Mathematics is among the top departments in the UK for this subject area, and is currently 6th in the UK in the QS World University Rankings 2025 for Mathematics.

Our internationally renowned department 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.

Read about what you'll get out of a graduate programme

The foundation of your career

According to data from the 2017-2023 Graduate Outcomes Surveys (UCL Graduate Outcomes Survey data), graduates from our programmes predominantly secure employment in the financial sector, including roles in banking, insurance, consulting, investment, and data analysis. They have achieved mostly highly-skilled positions both in the UK and internationally. Additionally, some of our graduates pursue academic excellence, obtaining doctoral positions at prestigious institutions worldwide.

Employability

This programme provides graduates with the skills and knowledge for a wide range of career prospects, particularly in the financial services industry, which requires quantitative finance professionals who are able to analyse data, to programme, and who are experts in mathematics and computational statistics.

Networking

The Financial Mathematics MSc offers several networking opportunities throughout the year. For example, students are welcome to attend the London Mathematical Finance Seminars, the Industry Practitioner's Seminar, and benefit from the Financial Mathematics Group's industry network. Each year, Financial Mathematics MSc students at UCL have an opportunity to participate in the annual Financial Mathematics Team Challenge (FMTC), usually held during the month of July. The FMTC gives students a chance to work on a topical research project in an international student team that is mentored by an academic or an industry practitioner.

Teaching and learning

The programme is delivered through a combination of lectures, practical classes, tutorials and problem-solving exercises. The Financial Mathematics MSc is a taught postgraduate programme requiring students to take eight modules, four of which can be selected from a list of electives. In addition, students are required to write a research dissertation on a topical project during the summer months. The MSc project is supervised by an academic or a suitable industry practitioner. Some of the MSc modules include a coursework component. All modules include exercise sets allowing students to practice the taught material regularly.

 Assessment is through written papers, coursework, examinations and the research report and presentation.

Typically, each taught module has 30 hours of lectures. About 20-25 hours a week are recommended for independent study. In addition, students are encouraged to use office hours provided by the lecturers. Research projects require a similar amount of time although the work is mostly individual accompanied by regular meetings with the project supervisor.

For full-time students, typical contact hours are around 12 hours per week. Outside of lectures, seminars, workshops and tutorials, full-time students typically study the equivalent of a full-time job, using their remaining time for self-directed study and completing coursework assignments.

In terms one and two full-time students can typically expect between 10 and 12 contact hours per teaching week through a mixture of lectures, seminars, workshops, crits and tutorials. In term three and the summer period students will be completing their own research project, keeping regular contact with their supervisors.

Modules

The course is equivalent to 180 UCL credits. The programme normally consists of 4 compulsory components (60 credits), 4 optional components (60 credits), plus an individual project (60 credits).

Part-time students will follow the same timetable as full-time students, just taking 2 modules per term across 2 years.

Compulsory modules







Optional 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 are subject to change. Modules that are in use for the current academic year are linked for further information. Where no link is present, further information is not yet available.

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

The department will endeavour to make reasonable adjustments for students with disabilities, including those with long-term health conditions, neurodivergence, learning differences and mental health conditions. This list is not exhaustive. If you're unsure of your eligibility for reasonable adjustments at UCL, please contact Student Support and Wellbeing Services.

Reasonable adjustments are implemented on a case-by-case basis. With the student's consent, reasonable adjustments are considered by UCL Student Support and Wellbeing Services, and where required, in collaboration with the respective department.

Details of the accessibility of UCL buildings can be obtained from AccessAble. Further information about support available can be obtained from UCL Student Support and Wellbeing Services.

For more information about the department and accessibility arrangements for your course, please contact the department.

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Sign up now for our in-person Graduate Open Evening. Hosted by the UCL Faculty of Engineering and UCL Faculty of Mathematical and Physical Sciences. This event is a great opportunity to find out about the graduate courses we offer, speak to staff and students about UCL and gain an insight into postgraduate study and student life at UCL.

Fees and funding

Fees for this course

UK students International students
Fee description Full-time Part-time
Tuition fees (2026/27) £25,300 £12,650
Tuition fees (2026/27) £46,700 £23,350

Postgraduate Taught students benefit from a cohort guarantee, meaning that their tuition fees will not increase during the course of the programme, but UCL reserves the right to increase tuition fees to reflect any sums (including levies, taxes, or similar financial charges) that UCL is required to pay any governmental authority in connection with tuition fees.

The tuition fees shown are for the year indicated above. Where the course 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

For full-time and part-time offer holders with a fee status classification of UK, a fee deposit will be charged at 2.5% of the first year fee.

For full-time and part-time offer holders with a fee status classification of Overseas, a fee deposit will be charged at 10% of the first year fee.

Further information can be found in the Tuition fee deposits section on this page: Tuition fees.

There are no programme-specific costs.

For in-person teaching, UCL’s main teaching locations are in zones 1 (Bloomsbury) and zones 2/3 (UCL East). The cost of a monthly 18+ Oyster travel card for zones 1-2 is £119.90. This price was published by TfL in 2025. For more information on additional costs for prospective students and the cost of living in London, please view our estimated cost of essential expenditure at UCL's cost of living guide.

Funding your studies

All information about tuition fees can be found on the UCL Fees and Funding page: https://www.ucl.ac.uk/students/fees-and-funding

UCL offers a range of financial awards aimed at assisting both prospective and current students with their studies: https://www.ucl.ac.uk/scholarships/funding-students-postgraduate-taught-courses#scholarships

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

See all the ways you can fund your studies

Naughton & Clift-Matthews Mathematics Scholarship

NOW CLOSED FOR 25/26 ENTRY
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 course of £90 for online 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 courses (or one application for the Law LLM) in any application cycle.

Choose your programme

Please read the Application Guidance before proceeding with your application.

Year of entry: 2026-2027

Apply for this course

Got questions? Get in touch

Mathematics
Mathematics

maths.mscteaching@ucl.ac.uk

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