Quantitative Finance, M.Sc.

  • N/A
    Application Deadline
  • 24 months
    Duration
  • Tuition
    726
    Tuition (Semester)
    363
    Tuition (Semester)
  • English (take IELTS)
    Language
,
The Master Quantitative Finance at WU (Vienna University of Economics and Business) will provide you with an excellent academic and practical education to become an expert in financial methodology. It is your ideal starting point for a future career in today’s challenging and dynamic financial markets.

About

The well-balanced curriculum builds strong quantitative skills combined with a solid knowledge base of the underlying theory of finance. Students acquire the necessary knowledge and skills to use mathematical models to understand complex financial problems.

A special focus lies on using the software 'R', an open source implementation of the language S for data analysis and visualisation. Students benefit from the expertise of the programs' faculty, which is strongly involved in the international development community of R.

Specialize in Science or Industry

The Science Track prepares students for an academic career in the field of finance, while the Industry Track focuses on a career as quants (analysts) in the finance industry, combining financial models with computational skills. You can specialize in the second year of your studies. In both tracks you will benefit from working together with our experienced faculty and from their strong academic networks and links to the finance industry.

A truly international program

The Master Quantitative Finance at WU (Vienna University of Economics and Business) attracts students from many places around the world which gives you the chance to experience a unique educational culture. The courses of the program have an international orientation and provide all the necessary knowledge and skills to start an international career.

An exclusive, high-quality post-graduate education

Only the best applicants can join the program. An important part is learning in small groups which offers many possibilities to be in contact with and get support from the faculty – both inside and outside the classroom.

Career Prospects

Graduates of the Master Quantitative Finance are qualified to be tomorrow's experts in the increasingly complex world of finance, e.g. in:

  • asset management

  • credit and market risk management

  • treasury and trading

  • financial engineering

  • research and technical analysis

  • corporate finance

Graduates also qualify for a relevant Doctoral or PhD program. Students who want to pursue an academic career are strongly encouraged to choose the Science Track to be well qualified.

Programme Structure

First Year

During the first year students concentrate on common theoretical and methodological basics 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 such as Optimization and Game Theory complete the first year.

Preparatory Courses

The preparatory courses support you before the start of the program in refreshing and deepen your skills and knowledge in the relevant fields. These courses are not mandatory but we strongly recommend you to attend the 'Bridging Course Finance' and the 'Bridging Course Mathematics' to prepare for the first semester.

The preparatory courses will be offered in September prior to the program start. They can only be attended by students already admitted to the Master in Quantitative Finance.

First Semester

  • Mathematics 1

  • Financial Markets and Instruments

  • Computing

  • Probability

  • Principles of Finance

  • Statistics 1

  • Second Semester

  • Mathematics 2

  • Optimization

  • Statistics 2

  • Continuous Time Finance 1

  • Microeconomics

  • Econometrics

  • Second Year

    The second year starts with advanced courses in major fields of finance and economics common for all students, before students choose between the Science Track and the Industry Track. The program ends with students synthesizing their developed knowledge and skills in their master thesis.

    Advanced Courses for both Tracks

  • Asset Pricing

  • Corporate Finance

  • Financial Econometrics

  • Game Theory

  • Science Track Option

    The Science Track focuses on preparing students for an academic career. 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) gives students the opportunity to participate in the Department’s research culture.

    Science Track Mandatory Courses

    • Paper Reading and Writing

    • Research Seminar I

    • Research Seminar II

    Electives (3 to select)

    Currently, we are offering the following electives:

    • Advanced Topics in Computing

    • Continuous Time Finance 2

    • Financial Engineering

    • Portfolio Management

    • Advanced Topics in Financial Mathematics / Advanced Topics in Financial Econometrics

    • Credit Risk Modeling

    • Quantitative Risk Management

    Industry Track Option

    The Industry Track focuses on students seeking a career as quants in the finance industry. This track 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.

    Industry Track Mandatory Courses

    • Industry Lab

    Electives (4 to select)

    Currently, we are offering the following electives:

    • Advanced Topics in Computing

    • Continuous Time Finance 2

    • Financial Engineering

    • Portfolio Management

    • Advanced Topics in Financial Mathematics / Advanced Topics in Financial Econometrics

    • Credit Risk Modeling

    • Quantitative Risk Management

    Master Thesis

    A master thesis is a scholarly paper where you demonstrate that you are capable to independently deal with a topic in an academic correct manner. The concrete topic depends strongly on your chosen track. In the Science Track you work on an academic issue applying the learned scientific theories and methods. In the Industry Track, your master thesis will be more practice-oriented by dealing with a real-life problem. Either way, you are supported in this process by a master thesis seminar and a supervisor.

    • Master Thesis Seminar

    • Master Thesis

    Detailed Programme Facts

    • Full-time duration 24 months
    • Study intensity Full-time
    • Credits
      120 ECTS
    • Languages
      • English
    • Delivery mode
      On Campus

    English Language Requirements

    You only need to take one of these language tests:

    • Minimum required score: 7

      The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

      Take IELTS test
    • Minimum required score (Grade B2): 160

      The CAE test – or the Cambridge Advanced English – is an exam for applicants who wish to get a Certificate in Advanced English. To receive the Advanced certificate, test-takers must score between 142 and 210 on the Cambridge English: Advanced test. Read more about CAE.

      Note: degree programmes and applications may require a more specific minimum score for admission.

    • Minimum required score: 600

      The TOEFL – or Test OF English as a Foreign Language – offers a paper-based test (PBT). The final, overall PBT score ranges between 310 and 677, and is based on an average taken from the three test components (listening, structure, and reading). The writing part of this test is scored separately on a scale of 0-6. Read more about TOEFL (PBT).

    • Minimum required score: 100

      The TOEFL – or Test Of English as a Foreign Language – offers an internet-based test (iBT). The final, overall iBT score ranges between 0 and 120, and includes a scaled average from the four components (reading, listening, speaking, and writing). Read more about TOEFL (iBT).

    Academic Requirements

    In order to apply for the MSc in Quantitative Finance you have to fulfill the minimum requirements for application and to proof your aptitude for the program. In case one or more of the required proofs are missing, your application has to be rejected.

    Minimum requirements for application

    1. Relevant Bachelor's program:

    Completion of or enrollment in a relevant Bachelor's program or other equivalent degree program at a recognized Austrian or foreign post-secondary institution. To be considered relevant, the completed program has to meet the following criteria:

    The program comprises at least 180 ECTS credits. 180 ECTS correspond to three academic years. Examinations have to be taken in one of the following subjects:

    • Business administration / economics / finance, worth a minimum of 60 ECTS credits OR

    • Mathematics / statistics / computing, worth a minimum of 45 ECTS credits

    Please note: It is not necessary to have completed this program at the time of application, proof of completion of your first-degree program is not required until actual enrollment. Nevertheless the requirements listed above have to be documented within the uploaded documents.

    2. Sufficient proficiency in English:

    • English as native language

    • Full Bachelor's program done in English (at least three years, university confirmation required)

    • One of the following certificates: valid TOEFL 600/250/100, valid IELTS 7.0, valid TOEIC 800, CAE (Certificate of Advanced English), CPE (Certificate of Proficiency in English), BEC Higher (Business English Certificate Higher), UNIcert III

    • Certificates of exams taken at WU in English Business Communication worth at least 6 ECTS credits and with a weighted average grade of 2.49 or better (Please note: At least EBC I has to be passed at the time of application.)

    • Other equivalent certificates

    3. Further skills and knowledge

    • Skills and knowledge in business administration / economics / finance

    • Skills and knowledge in mathematics / statistics

    4. Achievement potential:

    • Valid GMAT or

    • Equivalent standard test or

    • Letters of recommendation written by a course teacher, an advisor or supervisor of an academic thesis, or the educational institution at which the course or courses were attended or the academic thesis was written, detailing your achievement potential

    Please note:

    In addition to the requirements and necessary documents, we strongly recommend you to add a letter of motivation to your application.

    Tuition Fee Per Semester

    • EUR 726 International
    • EUR 363 EU/EEA

    Funding

    StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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