The University of Manchester
Mathematical Finance MSc
The University of Manchester

Key Course Facts

Salary

Salary of all UK Graduates of

  15 months after graduation 3 years after graduation 5 years after graduation
Median salary £33109 £34159 £35700
25-75 percentile range £30122 - £40073 £20370 - £39639 £22368 - £42249
Source: Longitudinal Education Outcomes (LEO) by UK Department for Education Dec 20, 2022
All courses in the UK

Course Description

The Department of Mathematics and Alliance Manchester Business School at the University of Manchester have combined their academic strength and practical expertise to deliver the MSc in Mathematical Finance (UK 1 year), ensuring that students can experience both the mathematical and economic perspective of the subject.

The course provides students with advanced knowledge and understanding of the main theoretical and applied concepts in Mathematical Finance delivered from a genuinely international and multi-cultural perspective with a current issues approach to teaching. The focus is on mathematical theory and modelling, drawing from the disciplines of probability theory, scientific computing and partial differential equations to derive relations between asset prices and interest rates, and to develop models for pricing, risk management and financial product development.

The finance industry demands recruits with strong quantitative skills and the course is intended to prepare students for careers in this area. The course provides training for those who seek a career in the finance industry specialising in derivative securities, investment, risk management and hedge funds. It also provides research skills for those who subsequently wish to pursue research and/or an academic career (e.g. university lecturer) or continue the study at doctoral level, particularly those wishing to pursue further/advanced studies in Mathematical Finance.

Accredited by the General Pharmaceutical Council (GPhC) in order to progress to pharmacist pre-registration training and then to register as a pharmacist. Please note, the 5-year integrated MPharm degree programme includes pre-registration training.

Entry Requirements / Admissions

UCAS Tariff of Accepted Students for this course

chart data
Source: Unistats by Higher Education Statistics Agency (HESA) Oct 10, 2023
This particular course

Requirements for international students / English requirements

IELTS academic test score (similar tests may be accepted as well)

    • 6.5
    • All other courses
    • 6.5
    • Manchester Business School East - Undergraduate Degrees
    • 6.5
    • Manchester Business School - Graduate Degrees
    • 7.0
    • Graduate Degrees
    • (no subscore less than 6.0)
    • 7.0
    • Undergraduate Degrees
    • (no subscore less than 6.0)
Get advice on which foundation courses are best for you to still study Mathematical Finance, MSc, if you do not meet the minimum requirements in terms of UCAS score, A levels, or English language requirements.

Formal entry requirements are listed here but since applicants come from many different backgrounds, it will be useful to consider yourself whether you feel as if you have the right background for the course. Some general expectations are listed below, with references to existing courses on that material in Manchester. It should hopefully give you a feel for the course and what is expected of the incoming student. We would only consider a few of these courses as absolutely essential, but some additional background is desirable and will certainly assist you greatly for course preparation. If in doubt then please contact us. A good background in Probability Theory is essential; for example two courses in Probability, Probability 1 and Probability 2. Knowledge of Statistics is highly desirable, for example Introduction to Statistics. More advanced courses in Probability are highly desirable, for example Foundations of Modern Probability. Knowledge of measure-theoretical Probability and/or measure theory is desirable as well. An introduction to Markov processes is desirable but not essential, for example Random models or Markov processes, but not essential. Knowledge of real analysis is essential and of complex analysis is desirable, for example Real and Complex Analysis. Knowledge of basic calculus, for example Calculus and Vectors A, and ordinary differential equations is essential, Calculus and Applications A. Knowledge of partial differential equations is highly desirable, for example Partial Differential Equations and Vector Calculus A. Knowledge of solving partial differential equations numerically is desirable but not essential. Although there is no formal requirement for previous programming experience, a familiarity with writing computer programs (for example, in Python, MATLAB, C/C or Java) is desirable.

Costs

Average student cost of living in the UK

Rent £518
Water, gas electricity, internet (at home) £50
Supermarket shopping £81
Clothing £35
Eating out £33
Alcohol £27
Takeaways / food deliveries £30
Going out / entertainment (excl.alcohol, food) £24
Holidays and weekend trips £78
Transport within city £17
Self-care / sports £20
Stationary / books £13
Mobile phone / internet £13
Cable TV / streaming £7
Insurance £51
Other £95
  
Average student cost of living £1092

London costs approx 34% more than average, mainly due to rent being 67% higher than average of other cities. For students staying in student halls, costs of water, gas, electricity, wifi are generally included in the rental. Students in smaller cities where accommodation is in walking/biking distance transport costs tend to be significantly smaller.

Source: Own research based on surveys and university data

University Rankings

Positions of The University of Manchester in top UK and global rankings.

Rankings of The University of Manchester in related subject specific rankings.

Mathematics

    • #10 
    • #13 
    Mathematics
    CUG The Complete University Guide - By Subject
    [Published 08 June, 2023]
    • #26 
    • #34 
    Mathematics
    The Guardian University League Tables by Subject
    [Published 09 September, 2023]
    • #6 
    • #57 
    Mathematics
    QS World University Rankings By Subject
    [Published 22 March, 2023]
    • #10 
    • #151 
    Mathematics
    GRAS Global Ranking of Academic Subjects - ShanghaiRanking
    [Published 27 October, 2023]
    • #7 
    • #180 
    Mathematics
    NTU Rankings by Subject
    [Published 11 July, 2023]

See all 40 university rankings of The University of Manchester

About The University of Manchester

The University of Manchester is a publicly funded research university with a mission to advance education, knowledge and wisdom for the good of society. University of Manchester’s main site is home to the majority of its faculties and is referred to by its students as ‘the campus’, although in reality Manchester does not have a campus but is instead interspersed throughout the city of Manchester.

List of 622 Bachelor and Master Courses from The University of Manchester - Course Catalogue

Student composition of The University of Manchester

Total number of students enrolled at The University of Manchester by level Academic year 2021/22 - Full-time equivalent student enrollments published by Higher Education Statistics Agency (HESA) on February 2022
undergraduates:
30130
postgraduates:
12730
Total:
42860
Number of students enrolled in courses of subject “Finance”: 4510 Academic year 2021/22 - Full-time equivalent student enrollments published by Higher Education Statistics Agency (HESA) on February 2022
Source: Academic year 2021/22 - Full-time equivalent student enrollments published by Higher Education Statistics Agency (HESA) on February 2022
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Where is this programme taught

Main Site
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