If you are the type of person with a passion for computation and data analysis, a career that focuses on mathematical finance may be your best fit. Your involvement in a vocation that focuses on applied mathematics and computational methods based on marketing, financial accounting, and other financial information can take you to places in the business sector.
According to the US Bureau of Labor Statistics, the employment of mathematical and quantitative finance specialists will increase by 33% from 2020 to 2030 despite a dwindling global economy. The bureau further stated that about 5,200 jobs for statisticians and mathematicians are offered each year over the decade.
Different colleges that offer an online Master of Mathematical Finance offer varying areas of specializations. But they provide lots of common core courses, including financial management, accounting, applied mathematics, data analysis, probability and statistics, economics, major financial markets, and portfolio management.
In business, the optimal utilization of financial resources is one of the most valuable actions the management must take to ensure profitability.
As a finance manager, mathematical or quantitative finance is your best tool to capture costs, avoid financial risks, and identify opportunities in financial markets. It can help you quantify the time, materials, equipment, and labor costs involved in each process. It is a piece of critical information that you will need to make the right business decisions to increase profits and manage risks.
Many industries are looking for competent individuals with the knowledge and skills to execute sound portfolio management and provide a mathematical presentation of the financial status and direction of the company. A master’s degree in computational finance can equip you with this knowledge and skills. It can help to reward you with a promising career.
Only a handful of US colleges and universities offer Master in Mathematical or Quantitative Finance degree programs. But in our desire to help you get to the right track, we would like to give you a list of the few reliable schools that offer the curriculum.
To choose the schools that offer the best online master’s of computational finance program, we base our decision on these criteria:
- 100% web-based or partially online (blended/hybrid) Mathematical Finance program that gives students, mostly professionals, a convenient option to earn their master’s degree,
- Pedagogical excellence, as exhibited by the rigorous Mathematical Finance coursework focusing on theoretical knowledge of quantitative portfolio theory, quantitative analysis, and risk management, as well as a focus on the application of these theories and principles,
- Excellent undergraduate or graduate degree school reputation, as evidenced by the institution’s inclusion in top rankings and reviews,
- Seasoned instructors that possess specialized Mathematical Finance knowledge and skills that they can impart to their students, with the goal of producing fine graduates who can perform their job effectively and efficiently in real-world scenarios,
- Credit transfer programs,
- Updated official accreditation status, which is a testament to the school’s compliance with its accrediting organization’s quality standards and guidelines.
See our Methodology page for more information about our selection process.
Best Online Master of Mathematical Finance Graduate Schools
Johns Hopkins University
The Online Master of Science in Financial Mathematics program at Johns Hopkins University aims to sharpen the computational and managerial skills of professionals involved in business administration.
This graduate degree program will expose you to core courses that will equip you with knowledge, tools, and managerial skills in finance and applied mathematics to analyze and measure the performance and potential of a business based on collected data.
JHU’s online degree program in financial mathematics allows you to study cases relevant to real-world scenarios. It provides you with knowledge in risk management, applied mathematics, and financial derivatives. The curriculum is mentored by a faculty of experts with years of experience in respected business organizations like the Bank of America and Goldman Sachs.
Furthermore, this online degree program gives you the flexibility of time to attend your classes on your own time without disrupting your work and other commitments.
Johns Hopkins University’s graduate programs are registered and approved by the Middle States Commission on Higher Education to award bachelor’s, graduate certificates, master’s, and other professional degrees.
Did You Know?
Johns Hopkins Whiting School of Engineering is one of the largest institutions for continuing education in engineering in the US.
University of South Carolina
The Online MS in Financial Engineering at the University of South Carolina is designed to equip you with knowledge and the ability to apply engineering and mathematical methods and tools, and engineering-driven principles in finance. Offered at [email protected], USC’s provider of advanced online learning, the program gives you the capability to address financial problems with tools used in applied mathematics, engineering, financial technology, finance and economics, statistics, and risk management.
The online students of USC’s MS in Financial Engineering program go through the same academic requirements and standards as on-campus students.
The University of South Carolina’s educational programs is registered and approved by the Schools Commission on Colleges and the Southern Association of Colleges. The commission also authorizes USC to grant bachelor’s graduate certificates, master’s, and other professional degrees.
Did You Know?
The University of Carolina is recognized all over the world as a leader in online education. It has been providing educational services for more than 140 years.
University of Washington
If you are a working professional who wants to pursue a master’s degree in financial mathematics without sacrificing your day job, you should consider enrolling in UW’s Online Master of Science in Computational Finance and Risk Management (CFRM) program.
The online MS CFRM program does not require you to attend campus classes. It also allows you to complete your master’s degree entirely online.
The online and face-to-face courses of the curriculum are taught by the same instructors, and classes are held simultaneously. However, as an online student, you can attend your classes at your convenient times to allow you to continue your work and personal obligations. But you are expected to submit your assignment on the assigned due dates and take exams on dates fixed by the school administration.
The University of Washington complies with the standards of the Northwest Commission on Colleges and Universities.
Did You Know?
Trash-In is an activity that inspired the idea of recycling. It originated from the University of Washington on February 26, 1970.
The Financial Technology Master of Engineering program at Duke University aims to equip you with skills and a good understanding of the use of applied mathematics and financial engineering principles in solving finance and risk management problems. It intends to teach you about the policies and ethics of developing quantitative solutions to ensure financial security and eliminate financial problems.
The Financial Technology program is designed for holders of bachelor’s degrees who aspire to career advancement in the finance industry. If you are a holder of a bachelor’s degree in physics, computer science, engineering, economics, statistics, and math, you should fare well in the financial technology curriculum.
As an online student of Duke’s Financial Technology program, you will take the same core courses, learn from the same accomplished and respected faculty, and earn the same degree as on-campus students. You also need to undergo an 8-12-week internship project. This will allow you to apply your learning in real-world experience.
Successful completion of the program can make you a cut above the rest. Nine out of 10 graduates at Duke University’s Financial Technology program got hired within six months after graduation.
Duke University is approved by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) to grant bachelor’s, doctorate, master’s, graduate certificates, and other professional degrees.
Did You Know?
Duke University is the first university in the US to offer an online engineering program.
Stevens Institute of Technology
The Online Financial Engineering program at Stevens Institute of Technology is designed to equip you with the understanding, skills, and tools to provide solutions to specific market and business challenges. It prepares you to identify your company’s strengths, weaknesses, and opportunities in the market.
This online program does not intend to sacrifice quality for convenience. It aims to give working and part-time students a window of opportunity to pursue advanced courses in applied mathematics and financial technology to realize their professional goals.
SIT’s online MS in financial engineering curriculum offers the same core courses as its on-campus program. It is also taught by the same faculty who are experts in their respective fields.
Stevens Institute of Technology is accredited by the Middle States Commission on Higher Education until 2027.
Did You Know?
Ninety-three percent of Stevens Institute of Technology’s business curriculum graduates were hired within three months after graduation.
Frequently Asked Questions
What is the difference between Master of Science in Finance and Master of Science in Mathematical Finance degree programs?
The MS in Finance is a degree program designed for individuals who desire to garner in-depth knowledge of finance-related topics like financial statement data analysis. It is suited for individuals who want a career in business including real estate, financial risk management, financial planning, investment management, and commercial banking.
Also known as quantitative finance and financial mathematics, mathematical finance is fit for individuals with strong quantitative discipline. The Master in Mathematical Finance degree program aims to hone the knowledge of students who want to do mathematical modeling of financial markets. It prepares students for the quantitative analyst and financial analyst positions in business organizations.
What are some US Universities that offer traditional master’s degrees in mathematical finance?
There are but a handful of US universities that offer master’s degrees in financial mathematics. But for the benefit of students who want to enroll in the traditional master of financial mathematics degree programs, here are some schools that offer the program on campus. These are:
- Worcester Polytechnic Institute – Master of Science in Mathematical Finance
- University of Minnesota – Master of Financial Mathematics
- Illinois Institute of Technology – Master of Mathematical Finance
- The University of Connecticut – Master of Science in Applied Financial Mathematics
- University of North Carolina – Master of Science in Mathematical Finance
What’s the difference between Mathematical Finance and Financial Mathematics?
Many experts in the business refer to mathematical finance as financial mathematics, computational finance, financial engineering, or quantitative finance. Both refer to a discipline that uses principles, computational techniques, and mathematical tools to solve problems in finance, formulate solutions to enhance risk management, and increase profitability.
What possible career paths will I come across as a specialist in financial mathematics and financial risk management?
A master’s in financial mathematics is a multi-faceted degree that can equip you with skills you can apply across several industries and career opportunities in the US and around the world. These careers include:
- Quantitative Research and Data Analysis
- Portfolio Management
- Programming and Software Development
- Financial Risk Management
- Data Science and Analytics
- Financial Engineering
- Financial derivatives Trading
- Asset Management
- Fund Management
- Investment Banking
- Management of Hedge Funds
Will a master’s degree in financial mathematics and proficiency in financial markets offer me a rewarding professional future?
The direct answer to this question is yes. Aside from being highly in demand in many different industries across the country and around the world, jobs in computational finance, financial mathematics, or quantitative discipline are financially and intellectually rewarding.
- Enrolling in a reputable online Master’s of financial mathematics program can be an excellent first step you can take toward a promising career.
- If you are passionate and intrigued with mathematics and finance, and one of your cherished dreams is to build a career on Wall Street, a Master of Science in Financial Mathematics would be your best bet.
- It’s a degree that exposes you to several opportunities to learn and practice applied mathematics and statistics.
- It can open doors for you to career opportunities in the global financial market, including banks, brokerage firms, stock exchange establishments, insurance companies, and many other businesses worldwide.