Overview

Who is it for?

Interested in tackling changes in the financial market in a mathematically sound manner? This master’s programme is for you if you have a flair for mathematics and are aiming for a successful career in the finance industry.

You don’t need a background in finance, but you do need a very good understanding of mathematics. So you’ve already got an upper second class degree, or equivalent, in physics, computer science, engineering, economics or mathematics.

You’re interested in stochastic modelling, and have a general interest in learning the more technical and mathematical techniques used in financial markets.

You’re ready to develop the skills and knowledge to undertake financial research, within a financial firm or academic institution. And you’re keen to learn from and connect with the top finance and business leaders who are guest lecturers on this course.

Christiana Theocharous
I would advise all prospective students considering MSc Financial Mathematics at Bayes Business School to give the opportunity to themself to attend to this business school. It is not only the knowledge and the support that this business school offers but it is also a life experience.

The engagement with students from other universities around the world helped me to understand how to work in a team and express your opinion for real life problems of Finance and use Mathematics in order to solve them.

- Christiana Theocharous

Objectives

In our post-graduate master's in Financial Mathematics programme you’ll acquire the skills you need to design, implement and change pricing models and analytical tools for risk management, or push new quantitative modelling ideas across different asset classes.

You’ll focus on stochastic modelling and simulation techniques and explore econometrics, asset pricing, risk management and key financial securities such as equities, fixed income products and derivatives.

You’ll build vital programming skills in Python and Matlab during terms 1 and 2, and have the opportunity to learn other programming languages such as VBA or C as third term electives.

Choose from three ways to complete your degree in the third term, including a business research project or applied research project, or solely through electives.

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Structure

What will you learn

  • You will gain a very good understanding of the technical aspects used in financial markets, including wide ranging financial theory and different financial assets.
  • You will gain a sound knowledge of stochastic modelling and mathematical finance, and also a good understanding of econometrics and programming, in particular Python and Matlab.
  • From the MSc Financial Mathematics you will also understand how the theory is being applied in the financial industry and what practical issues are.
  • In the third term you have three different options how you can complete your MSc, including a project or choosing only electives. Popular electives include Modelling and Data Analysis, Advanced Financial Engineering and Credit Derivatives, Credit Risk Management, Quantitative Risk Management. Introduction to Python.

Induction weeks

All of our MSc courses start with two compulsory induction weeks which include relevant refresher courses, an introduction to the careers services and the annual careers fair.

Assessment methods

Assessment

We review all our courses regularly to keep them up-to-date on issues of both theory and practice.

To satisfy the requirements of the degree course students must complete:

  • nine core courses (Eight at 15 credits each, one at 10 credits)

and either

  • five electives (10 credits each)
  • three electives (10 credits each) and an Applied Research Project (20 credits)
  • one elective (10 credits) and a Business Research Project (40 credits)

Assessment of modules on the MSc in Financial Mathematics, in most cases, is by means of coursework and unseen examination.

Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests and problem sets. Please note that any group work may include an element of peer assessment.

Term dates

Term dates 2023/24

  • Induction: 11th September 2023 - 22nd September 2023
  • Term one: 25th September 2023 - 8th December 2023
  • Term one exams: 8th January 2024 - 19th January 2024
  • Term two: 22nd January 2024 - 5th April 2024
  • Term two exams: 22nd April 2024 - 3rd May 2024
  • Term three - international electives: 6th May 2024 - 17th May 2024
  • Term three: 20th May 2024 - 5th July 2024
  • Term three exams: 8th July 2024 - 19th July 2024
  • Resits: 12th August 2024 - 23rd August 2024
  • Additional resit week - tests only: 26th August 2024 - 30th August 2024.

Timetables

Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.

View academic timetables (add timetable and search for your programme)

Please note that all academic timetables are subject to change.

Teaching staff

Course Director

Course director profile

Dr Dirk Nitzsche

Senior Lecturer in Finance

The teaching staff on the MSc in Financial Mathematics have many years of practical experience working in the financial services sector and are also active researchers in their fields

This knowledge and experience inform the highly interactive lectures that make up the MSc in Financial Mathematics.

Module Leaders include:

Application

How to apply

Apply for MSc Financial Mathematics

Documents required for decision-making

  • Transcript/interim transcript
  • Grading system used by your university
  • Current module list if still studying
  • CV
  • Personal statement - this should be around 500 words in length and answer the following:
    • Why have you selected this course? What are your motivating factors?
    • What are your areas of interest within the course?
    • What contributions do you feel you can make to the course?
    • How do you see the course affecting your career plans?

Documents which may follow at a later date

  • English language test result if applicable
  • Confirmation of professional qualification examinations/exemptions/passes, if applicable
  • Two references
  • For a successful application to receive an unconditional status, all award documents must be verified, and should be provided to the relevant Admissions Officer via one of the methods stated in your offer.

We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.

Individual Appointments

If you would like to arrange an individual appointment to discuss the application process and be given a tour of the facilities, please complete this form.

Please note - these are subject to availability.

Ask a student

Chat to one of our current master's students now about applying for a MSc at Bayes.

Terms and conditions

Students applying to study at Bayes Business School are subject to City, University of London's terms and conditions.

Entry requirements

  • A UK upper second class degree or above, or the equivalent from an overseas institution.
  • Your academic background should be in a highly quantitative subject such as mathematics, physics, engineering, economics or computer science and having covered areas such as statistics, linear algebra and calculus.
  • Work experience is not a requirement of this course.

Course Syllabus

You may be requested to provide a syllabus of specific modules undertaken during your studies as part of the assessment process. This is not required at the point of submitting an application and will be requested directly by the admissions team only if required as part of the assessment.

English language requirements

If you have been studying in the UK for the last three years it is unlikely that you will have to take an English language test.

If you have studied in the UK at degree level for less than three years (e.g. 3+1, 2+1, 2+2, etc.) you will be required to provide the results of an approved English language test and possibly resit the test to meet our academic entry requirements.

Full list of approved English language tests/qualifications and minimum requirements.

Fees

UK/EU/International £30,000 Tuition fees are subject to annual change

Fees in each subsequent year of study for continuing students (where applicable) will be subject to an annual increase of 2%. We will confirm any change to the annual tuition fee for continuing students in writing prior to commencing each subsequent year of study (where applicable).

Deposit: £2,000 (usually paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)

First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the start of the induction period)
Second installment: Half fees (paid in January following start of course)

Information about Scholarships

Career pathways

Career destinations for MSc Financial Mathematics

The MSc in Financial Mathematics equips you for a variety of careers in finance and related areas, in the UK and around the world. Graduates go on to successful careers in quant roles, traditional finance roles and data science & analytics roles or work involving developing pricing models for large financial firms.

You’ll be well qualified for a role within large investment banks, small specialist financial companies or boutique firms. The MSc in Financial Mathematics also prepares you for a PhD in the areas of Mathematical Finance and Financial Engineering.

Our careers team will support you in understanding and fulfilling your career goals, and you’ll also benefit from our strong links to major players in the finance industry.

Our MSc Financial Mathematics master’s provides you with the opportunity to learn quantitative analysis using stochastic, technical risk management, fixed income security, preparing you for a variety of careers.

Class Profile

Recent graduates have taken up positions in:

  • Analyst - Sales and Trading - J.P. Morgan
  • Analyst - Equity capital markets - Citi Bank
  • Analyst - Equity capital markets - Birch Faraday Capital
  • Quantitative Analyst - Validus Risk Management
  • ETF/ETP Data Analyst - ETFGI

Previous graduates have gone on to work in financial services, consulting, asset management and corporate banking across the UK, Asia and the EU.

(Data provided from alumni who completed the annual destination data survey for 2020/21 and 2019/20).

Alumni stories

Leon Bezverkhni
Leon Bezverkhni
Financial Mathematics
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Hear from our alumni. Discover the real experiences of learning at Bayes and how Bayes helped to boost our graduates' careers.

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Course information and statistics (2022/23 cohort)

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16
nationalities in previous cohort
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23
average age of student body