Information regarding our 2022/23 admissions cycle

Our updated course listings for the 2022/23 postgraduate admissions cycle will be published at the beginning of October. Applications for 2022 entry will be available shortly after this. Check our how to apply pages for updates.

MSc Quantitative Finance

Year of entry: 2021

Coronavirus information for applicants and offer-holders

We understand that prospective students and offer-holders may have concerns about the ongoing coronavirus outbreak. The University is following the advice from Universities UK, Public Health England and the Foreign and Commonwealth Office.

Read our latest coronavirus information

Overview

Degree awarded
MSc
Duration
12 months full-time
Entry requirements

We require a First or Upper Second class honours degree (2:1, with 60% average) from a UK university or the overseas equivalent.

  • You ideally need a a degree in finance, economics, mathematics, statistics, physics, engineering, actuarial or decision sciences and have taken or be taking a significant number of modules in quantitative subjects, such as differential equations, econometrics or mathematical statistics in the final year of your degree, with excellent results
  • We highly recommend GMAT or GRE and anticipate a well-balanced score with a strong performance in the quantitative sections
  • When assessing your academic record, we take into account your grade average, position in class, references and the standing of the institution where you studied your qualification. 

Full entry requirements

How to apply

Apply online

This course is now closed to applications for 2021 entry.  

Course options

Full-time Part-time Full-time distance learning Part-time distance learning
MSc Y N N N

Course overview

This specialist course gives you a thorough understanding of the full range of quantitative methods needed for financial decision making.

Open days

Postgraduate Information Sessions

We will be holding a series of virtual information sessions with a presentation on `How to submit an application' followed by a Q&A.

Register here >>  

Stream recorded sessions   from The University of Manchester's postgraduate virtual open day.

Fees

For entry in the academic year beginning September 2021, the tuition fees are as follows:

  • MSc (full-time)
    UK students (per annum): £28,500
    International, including EU, students (per annum): £28,500

Further information for EU students can be found on our dedicated EU page.

The fees quoted above will be fully inclusive for the course tuition, administration and computational costs during your studies.

Refund Policy

Due to the competition for places and limited availability, this course requires a deposit of £2,000 to cover non-recoverable costs and secure your place. The deposit will be deducted from your tuition fees when you register on the course.

The deposit is non-refundable, except in the following situations:

  • you fail to meet the conditions of your offer (see below for further information); and/or
  • you are refused a visa or entry clearance to enter the UK (proof must be submitted)

If an offer has been made specifying an English Language condition which you do not meet, the Admissions Team will require the official certificate of an English Language test taken after the date of offer as evidence that you have attempted to meet your offer conditions for a refund to be approved. The English Language test certificate provided with your application documents will not be accepted as proof that you have attempted to meet your offer conditions as such a certificate will predate the offer.

If an offer has been made specifying an academic condition, the Admissions Team will require the official university documentation showing that you have not met this academic condition from the institution at which you have studied, as evidence for a refund to be approved.

The Admissions Team reserves the right to refuse to refund of any deposit that does not meet with the requirements outlined above.

Policy on additional costs

All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).

Scholarships/sponsorships

Contact us for further information about the new Accounting and Finance scholarship for UK/EU students and other  scholarships available .

Contact details

School/Faculty
Alliance Manchester Business School
Contact name
Master's Admissions Team
Email
Website
https://www.alliancembs.manchester.ac.uk/study/masters/msc-quantitative-finance/
School/Faculty
Alliance Manchester Business School was established in 1965 as one of the UK's first two business schools. Today, we are the UK's largest campus-based business and management school, and 'Original Thinking Applied' is at the heart of everything we do. Find out more .

Courses in related subject areas

Use the links below to view lists of courses in related subject areas.

Entry requirements

Academic entry qualification overview

We require a First or Upper Second class honours degree (2:1, with 60% average) from a UK university or the overseas equivalent.

  • You ideally need a a degree in finance, economics, mathematics, statistics, physics, engineering, actuarial or decision sciences and have taken or be taking a significant number of modules in quantitative subjects, such as differential equations, econometrics or mathematical statistics in the final year of your degree, with excellent results
  • We highly recommend GMAT or GRE and anticipate a well-balanced score with a strong performance in the quantitative sections
  • When assessing your academic record, we take into account your grade average, position in class, references and the standing of the institution where you studied your qualification. 

English language

For the latest information on demonstrating your English proficiency for those whose first language is not English, please see our  language requirements .

English language test validity

Some English Language test results are only valid for two years. Your English Language test report must be valid on the start date of the course.

Other international entry requirements

We accept a range of qualifications from different countries. For these and general requirements see  entry requirements for your country .

Application and selection

How to apply

Apply online

This course is now closed to applications for 2021 entry.  

Advice to applicants

Your statement of purpose should cover the areas outlined below and be one page A4: 

  • Tell us why you are interested in the MSc Quantitative Finance course at Alliance MBS and how the course will impact on your future
  • List any other economics, mathematics, quantitative, or finance courses or qualifications you have taken in addition to your undergraduate degree
  • Describe what makes you an outstanding applicant and describe your potential to contribute to all aspects of the course.

How your application is considered

We can only process applications with the following documents:

  • up-to-date English language score outlining individual element scores, or date of your test (where applicable)
  • first and second year transcript (scanned copies are accepted at the time of application)
  • one academic reference letter , or a professional reference letter if you graduated more than two years ago
  • statement of purpose
  • copy of passport (for non-home/EU students only)

Deferrals

To defer your offer to the following year, you must contact your admission officer to get a copy of the deferral form.  You can only defer your place for one year.

Re-applications

If you applied in the previous year and your application was not successful you may apply again. Your application will be considered against the standard course entry criteria for that year of entry. In your new application you should demonstrate how your application has improved. We may draw upon all information from your previous applications or any previous registrations at the University as a student when assessing your suitability for your chosen course.

Course details

Course description

The course is particularly suitable for students with a degree in Finance, Financial Economics, Actuarial Science, Engineering, and Mathematics (see  entry requirements ), as well as relevant work experience (non-compulsory). It is also suited to those wishing to gain salary enhancements, or students wishing to pursue advanced studies in quantitative finance.

  • Learn how to forecast and manage risk and return
  • Gain the skills to price any financial instrument
  • Learn how to engineer new methods and financial products
  • Build advanced knowledge of the main theoretical and applied concepts in quantitative finance, financial engineering and risk management, using current issues to stimulate your thinking
  • Prepare for careers involving the design and management of new financial instruments, the development of innovative methods for measuring, or predicting and managing risk.

CFA training

We have teamed up with Kaplan Schweser to facilitate student preparation for the CFA exams.

  • MSc Accounting , MSc Accounting and Finance , MSc Finance and MSc Quantitative Finance course students who perform well in Semester one and show a strong interest in CFA will get free access to Kaplan's online training materials for CFA Part One.
  • Gain student support from Kaplan with access to tuition material, online question banks and progress tests, and mock exam runs. Plus tutor support and 1-2-1 sessions.
  • The CFA Program builds a strong foundation of advanced investment analysis and real-world portfolio management skills.
  • Take the first step to earning the Chartered Financial Analyst ® (CFA) credential to prepare for the Level I exam
  • The CFA is the most respected and recognised investment designation in the world.

Trading BootCamp Week

Together with Amplify Trading , a global financial trading and training firm, we offer a week long Trading BootCamp for MSc Accounting, MSc Accounting and Finance, MSc Finance and MSc Quantitative Finance course students.

  • experience a live trading floor provided by two experienced traders with specialist software
  • engage with contemporary financial markets and apply your classroom theory in practice
  • watch live breaking news, economic data and geo-political events, and use your knowledge and skills in trading different asset classes
  • a fantastic opportunity to prepare you for successful careers after graduation.

The Finance Zone   

Special features

Worshipful Company of International Bankers Affiliation

Our accounting and finance division courses are now affiliated with the Worshipful Company of International Bankers (WCIB). Every year the best dissertation out of the following four courses will receive the WCIB Prize worth £300.

  • MSc Accounting 
  • MSc Accounting and Finance
  • MSc Finance
  • MSc Quantitative Finance

The winner will also enter the competition for the prestigious WCIB Lombard Prize

Coursework and assessment

The course teaching is shared by Alliance Manchester Business School and the Department of Mathematics, and delivered through lectures, case studies, seminars and group project-based work. Assessment varies depending on course units taken.  It may include a combination of course work and examination.  The dissertation normally ranges between 30 and 50 double spaced pages.

Course unit details

During the course you will be taking 180 credits in all. The eight taught units during semester one and two total 120 credits and consists of both compulsory and optional taught units which can be viewed in the list below.  

Over the summer period, you will carry out your Research Dissertation, worth 60 credits. The dissertation gives you the opportunity to apply what you have learned in the taught part of the course.  Our topics are aligned with the research interests of leading financial institutions from the City of London and internationally.

Examples of recent dissertation project topics include:

  • Approximation of CVA/DVA/FVA
  • FVA and MM - quantitative analysis/illustration Continuous rainbow options on commodity outputs
  • Investigating dynamics and determinants of risk-neutral PDs
  • Using hazard models to forecast corporate bankruptcy
  • Analysing asset pricing implications from real options models
  • Pricing sovereign CDS contracts
  • Estimating liquidation probabilities of hedge funds

Course unit list

The course unit details given below are subject to change, and are the latest example of the curriculum available on this course of study.

TitleCodeCredit ratingMandatory/optional
Interest Rate Derivatives BMAN63012 15 Mandatory
Derivative Securities BMAN70141 15 Mandatory
Asset Pricing Theory BMAN70381 15 Mandatory
Time Series Econometrics BMAN71122 15 Mandatory
Stochastic Calculus for Finance BMAN71541 15 Mandatory
Credit Risk Measurement and Management BMAN71572 15 Mandatory
Risk, Performance and Decision Analysis BMAN60092 15 Optional
Cross Sectional Econometrics BMAN70211 15 Optional
Corporate Finance BMAN71152 15 Optional
Portfolio Investment BMAN71171 15 Optional
Simulation & Risk Analysis BMAN73942 15 Optional
Computational Finance MATH60082 15 Optional
Generalised Linear Models and Survival Analysis MATH68052 15 Optional
Scientific Computing MATH69111 15 Optional
Displaying 10 of 14 course units

Scholarships and bursaries

Masters scholarships for Accounting and Finance programmes for UK/EU students

We are delighted to be able to offer five scholarships available across the four Accounting and Finance programmes with a value of £10,000 towards the cost of the tuition fee. The scholarships will be awarded in line with our scholarship deadlines so early application is advisable.  Read more >>

Disability support

Practical support and advice for current students and applicants is available from the Disability Advisory and Support Service. Email: dass@manchester.ac.uk

Careers

Career opportunities

This course provides ideal preparation for a career in the finance industry specialising in designing and trading financial instruments. These financial engineers are expected to be proficient in computer programming and strong in financial mathematics. They have to be at ease with complex derivatives and creative enough to find solutions for pricing and hedging. The course also provides research skills for those who wish to pursue an academic career by studying at doctoral level.

Recent recruiters

Armacell, Bank of Thailand, Barclays Capital, Bloomberg, China Merchants Bank, CIBC World Markets, Citigroup, Hewitt Associates, KPMG, Matrix, MFC Fund and Schlumberger.

Read more about graduate career destinations >>

Read about our Postgraduate Careers Service >>

Read the latest information on visa changes and opportunities in the UK for international students >>