Application deadline: October 8, 2013
Tuition fee:
  • € 728 / Year (EEA)
  • € 728 / Year (Non-EEA)
Start date: October  2014
  • English
Delivery mode: On Campus
Educational variant: Full-time

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The Master in Quantitative Finance provides students with a solid education in the field of Quantitative Finance. The formation of an interdisciplinary faculty of internationally renowned researchers from the fields of Statistics, Mathematics, Finance and Economics makes the Master´s Program in Quantitative Finance possible and ensures that the curriculum is both comprehensive and well-balanced. In addition, two further cooperation partners are involved in the program.

The Vienna Graduate School of Finance (VGSF) is an internationally oriented PhD Program funded by the Austrian Science Fund (FWF). The Science Track of the Master´s Program in Quantitative Finance focuses on preparing students for the VGSF PhD Program. The Vienna Institute of Finance (VIF) is a research institute for mathematical finance funded by the Vienna Science Fund (WWTF).

Target Group

To succeed in this challenging program, you should be a highly qualified student with a Bachelor´s or equivalent degree in a relevant subject. In particular, we expect participants to have a profound basis/training at an undergraduate level in the fields of linear algebra (e.g., eigenvectors and eigenvalues), analysis (including multivariable calculus and simple ODEs) and probability (e.g. conditional expectation).

This comprehensive 4-semester program is taught entirely in English, and provides students with a solid academic education in the field of quantitative finance. The Master´s Program in Quantitative Finance is a full-time degree program consisting of 120 ECTS credits. Its graduates receive the title Master of Science (WU), abbreviated as MSc (WU).


The first year consists of a well-structured course program concentrating on the basics common to all specializations in quantitative finance. The courses cover mathematics, probability, statistics, and computing, and prepare students for subsequent courses on stochastic calculus and financial econometrics. Introductory courses in finance, microeconomics and related subjects like optimization and game theory complete this phase of the program.

Science Track This specialization focuses on preparing students for an academic career. Besides advanced courses in all major fields of finance and numerous electives, special emphasis is placed on academic literature research and scientific writing. Attendance of a weekly research seminar held by the Vienna Graduate School of Finance (VGSF) also gives students the opportunity to participate in the Department´s productive research atmosphere.

Industry Track This specialization focuses on students seeking a career as quants in the finance industry. Besides courses in the major applications, the program concentrates on combining financial models with computational skills. In the Industry Lab, students have the opportunity to apply their skills and knowledge in a real-world environment, making use of WU´s numerous corporate partnerships.


A rigorous selection process ensures that only the best students enroll the program, keeping quality standards high. The following requirements have to be met in order to be admitted to the Master Program in Quantitative Finance:

  • Proof of a bachelor degree or equivalent first degree in a subject relevant to the program. The completed program has to meet the following criteria:
    The Bachelor's degree comprises at least 180 ECTS credits.
    Examinations must be in one of the following subjects:
    - business administration, and/or economics, and/or finance, worth a minimum of 60 ECTS credits OR
    - mathematics, and/or statistics, and/or computing worth a minimum of 45 ECTS credits
  • Adequate English proficiency: valid TOEFL: 600/250/100; valid TOEIC: 800; valid IELTS: 7.0; CAE; CPE; BEC Higher; 14 ECTS WU courses in Business English with a weighted average grade of 2.49 or better or other equivalent certificates; full Bachelor's program done in English - at least 3 years, confirmed by university Skills and knowledge in business administration, and/or economics, and/or finance
  • Skills and knowledge in mathematics and/or statistics
  • Achievement potential

Application Deadlines

WU employs a rolling admission policy, allowing students to apply from the beginning of September until spring. Rolling admission for the academic year 2014/15 starts September 2nd, with the following three priority deadlines: October 8th, 2013; January 8th, 2014 and March 8th, 2014.

English Language Requirements

IELTS band: 7
CAE score: (read more)

Cambridge English: Advanced (CAE) is part of the Cambridge English suite and is targeted at a high level (IETLS 6.5-8.0). It is an international English language exam set at the right level for academic and professional success. Developed by Cambridge English Language Assessment - part of the University of Cambridge - it helps you stand out from the crowd as a high achiever.

67 (Grade C)
TOEFL paper-based test score : 600
TOEFL iBT® test: 100

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You are normally required to take an English Proficiency Test if you come from a non-English speaking country.

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