Please note the course details apply to 2025 entry. Details for 2026 entry for our postgraduate courses will be published from mid-October 2025.
Financial Mathematics MSc
Key information
Study mode:
Full time
Part time
Duration:
One year full-time, two years part-time
Credit value (UK/ECTS equivalent):
UK 180/ECTS 90
Application status:
Open
Start date:
September 2025
Our Financial Mathematics MSc enables graduates and professionals with a strong mathematical background to research, develop and apply quantitative and computational techniques to investment and risk management. Based in the Department of Mathematics, this course has a superb reputation for research-led teaching and strong links to industry.
Key benefits
- A rigorous approach to quantitative finance taught entirely by the Department of Mathematics.
- Top 10 in the UK for Mathematics (QS World Rankings by subject 2024).
- In-depth coverage of the skills needed for working in the financial, actuarial or related industry: probability theory, optimisation, statistics and computer implementation.
- Unrivalled facilities close to the with City of London’s financial centre, and with access to live market data in our Bloomberg Data Laboratory.
- Flexible study course offering the opportunity to study part-time.
- King’s is a member of the London Graduate School in Mathematical Finance which provides advanced courses for students who wish to push beyond the MSc core syllabus.
- Lecturers have extensive experience in working for financial institutions such as Bank of Finland, Commerzbank, Deutsche Bank, Goldman Sachs, ION Trading, Standard Chartered Bank and Winton Capital Management.
- The Department of Mathematics is a leading centre of research, with 100 percent of research classed as world-leading or internationally excellent (REF 2021).
“King’s is a great platform to learn about Bloomberg and other trading or coding tools too. King’s also organises career fairs, so I always go along to learn about companies, network and apply for internships and jobs.”
Financial Mathematics studies problems of financial decision by combining various techniques from pure and applied mathematics. This course covers a diverse range of topics, from classical options pricing theory to post-crisis financial mathematics on optimal hedging, investment and risk management. Like any branch of applied mathematics, financial mathematics analyses a given problem by first building a mathematical model for it and then examining the model. Both steps require detailed knowledge in different areas of mathematics, including probability, statistics, optimisation, computer science and many more traditional fields of mathematics. Our Financial Mathematics MSc is a unique course that encompasses the essential skills required for successful risk management, trading and research in quantitative finance: probability, statistics, optimisation, computing and financial markets. You will explore probability theories, risk neutral valuation, stochastic analysis, numerical methods, as well as interest rate and credit risk modules. We are members of the University of London and by arrangement, you can enrol in optional modules at other institutions within the University of London. We also offer you the opportunity to study an additional zero-credit supportive module called mathematical analysis for financial mathematics. You must take modules totalling 180 credits to complete the course. Full time students will complete the course in one year, from September to September. Part-time students will complete the course in two years. Bloomberg terminal laboratory King’s is one of only a few academic departments in the UK that offers full access to Bloomberg terminals. These terminals will provide you access to live financial data. They are heavily used within the financial industry, and the data they provide is critical in assisting traders in making investment decisions and for risk managers monitoring investment probabilities. We have a number of Bloomberg terminals available for use by the Financial Mathematics MSc course. You will use the Bloomberg terminals to: - gain an intuition for the conduct of real financial markets - develop potential investment strategies - experience using real-world investment and risk management software and obtain data for research. The skills you will learn from using the terminals are highly valued by employers. King’s is part of a strong network of financial mathematics in London with connections both in academia and in the industry.
Base campus
Strand Campus
Located on the north bank of the River Thames, the Strand Campus houses King's College London's arts and sciences faculties.
Please note that locations are determined by where each module is taught and may vary depending on the modules you study.
Regulating bodies
King's is regulated by the Office for Students
UK applicants
Standard requirements
A minimum high 2:1 undergraduate Bachelor’s (honours) degree with a final mark of at least 65% or above
If you have a lower degree classification, or a degree in an unrelated subject, your application may be considered if you can demonstrate significant relevant work experience, or offer a related graduate qualification (such as a Masters or PGDip).
Programme-Specific Requirements
Bachelor’s degree with a minimum High 2:1 honours degree with a final mark of at least 65% or above in mathematics or mathematics based subject.
Applicants would need to demonstrate previous study of Further Mathematics and Pure Mathematics.
In order to meet the academic entry requirements for this programme you should have a minimum High 2:1 undergraduate degree with a final mark of at least 65% or above in the UK marking scheme. If you are still studying you should be achieving an average of at least 65% or above in the UK marking scheme.
International applicants
Equivalent International qualifications
English language requirements
English language band:
D
To study at King's, it is essential that you can communicate in English effectively in an academic environment. You are usually required to provide certification of your competence in English before starting your studies.
Nationals of majority English speaking countries (as defined by the UKVI) who have permanently resided in this country are not usually required to complete an additional English language test. This is also the case for applicants who have successfully completed an undergraduate degree (of at least three years duration), a postgraduate taught degree (of at least one year), or a PhD in a majority English speaking country (as defined by the UKVI) within five years of the course start date.
For information on our English language requirements and whether you need to complete an English language test, please see our English Language requirements page.
Selection process
Applications must be made online using King’s Apply, the Admissions Portal.
A non-refundable application fee of £130 applies.
Due to the large volume of applications, this programme operates a partial “gathered-field” approach to decision making for applicants who meet our advertised academic entry requirements. This means that for some of these applicants, a decision may not be reached until after February and where possible, will be made by May. You will be informed via King’s Apply if your application has been assessed and being held as part of this process.
Personal statement and supporting information
You will be asked to submit the following documents in order for your application to be considered:
| Personal Statement | Yes |
A personal statement is required. You must answer the following two questions on the application form:
|
|---|---|---|
| Previous Academic Study | Yes | A copy (or copies) of your official academic transcript(s), showing the subjects studied and marks obtained. If you have already completed your degree, copies of your official degree certificate will also be required. Applicants with academic documents issued in a language other than English, will need to submit both the original and official translation of their documents. |
| References | Yes | One academic reference is required. A professional reference will be accepted if you have completed your qualifications over five years ago. In some cases, we may request an additional reference from you. |
| Other | Optional | Applicants may wish to include a CV (Resume) or evidence of professional registration as part of their application. |
Teaching methods - what to expect
Lectures
Group Tutorials
Independent Study
We use lectures and group tutorials to deliver most of the modules on the course. You will also be expected to undertake a significant amount of independent study.
Typically, one credit equates to 10 hours of work, e.g. 150 hours work for a 15 credit module. These hours cover every aspect of the module.
We will use a delivery method that will ensure students have a rich, exciting experience from the start. Face to face teaching will be complemented and supported with innovative technology so that students also experience elements of digital learning and assessment.
The majority of learning for this degree takes place at the Strand Campus, with occasional lectures and practical sessions taking place at the Waterloo Campus. Please note that locations are determined by where each module is taught and may vary depending on the optional modules you select.
Assessment
- Coursework
- Written/Practical Examinations
- Class Tests
- Quizzes
Your performance will be assessed through a combination of coursework and written/practical examinations. Forms of assessment may typically include unseen written exams, class tests, online quizzes and coursework submission.
The study time and assessment methods detailed above are typical and give you a good indication of what to expect. However, they are subject to change.
Structure
Courses are divided into modules. You will normally take modules totalling 180 credits.
Required modules
Probability Theory (15 credits)
Risk Neutral Valuation (15 credits)
MSc Financial Mathematics Project (60 credits)
MSc Financial Mathematics Project (60 credits) will be taken in the second year for those studying Part Time.
Other supporting module:
Mathematical Analysis for Financial Mathematics (0 credits)
Optional modules
If studying full time, you are required to take modules totaling 90 credits from a range of optional modules. Those studying part time are required to take 30 credits in the first year and 60 credits in the second year. Optional modules may typically include:
Financial Markets (15 credits)
Statistics in Finance (15 credits)
Stochastic Analysis (15 credits)
C++ for Financial Mathematics (15 credits)
Interest Rates and Credit Risk (15 credits)
Econophysics (15 credits)
Machine Learning (15 credits)
Numerical and Computational Methods in Finance (15 credits)
Elements of Statistical Learning (15 credits)
Scientific Computing for Finance (15 credits)
High-Frequency Finance (15 credits)
Stochastic Control and Applications to Algorithmic Trading (15 credits)
King’s College London reviews the modules offered on a regular basis to provide up-to-date, innovative and relevant programmes of study. Therefore, modules offered may change. We suggest you keep an eye on the course finder on our website for updates.
Please note that modules with a practical component will be capped due to educational requirements, which may mean that we cannot guarantee a place to all students who elect to study this module.
Employability
Our graduates are highly sought after by investment banks, corporate risk management units, insurance companies, fund management institutions, financial regulatory bodies, brokerage firms, and trading companies.
Recent employers of our graduates include Capital Investment, Credit Suisse, European Bank for Reconstruction & Development, Fitch Ratings, HSBC and Morgan & Stanley.
Some graduates have chosen to pursue postgraduate research degrees (PhDs) in Financial Mathematics at world-renowned universities.
Destinations
Recent graduates have found employment within the following job roles and companies:
- Manager, Hong Kong Monetary Authority
- Investment Management, Great Eastern
- Treasury & Liquidity Risk Models, Barclays
- Financial Controller, Sodexo
- Risk Analyst, Close Brothers Premium Finance
- Quantitative Analyst, Scope
- Analyst, JP Morgan
Tuition Fees
UK:
Full time: £13,500 per year (2025/26)
Part time: £6,750 per year (2025/26)
International:
Full time: £40,000 per year (2025/26)
Part time: £20,000 per year (2025/26)
These tuition fees may be subject to additional increases in subsequent years of study, in line with King’s terms and conditions.
Deposit
If you receive an offer for this programme, you will be required to pay a non-refundable deposit to secure your place. Deposit payments are credited towards the total tuition fee payment.
The Home deposit is £500. The International deposit is £2000.
- If you receive an offer before January, payment is due within two months of receiving the offer.
- If you receive an offer between 1 January and 20 May, payment is due within one month of receiving the offer.
- If you receive an offer between 21 May and 15 July, payment is due within two weeks of receiving the offer.
- If you receive an offer between 16 July and 10 August, payment is due within one week of receiving the offer.
- If you receive an offer from 11 August onwards, payment is due within three days of receiving the offer.
If you are a current undergraduate King’s student in receipt of the King's Living Bursary this academic year, you are not required to pay a deposit to secure your place on the programme. Please note, this will not change the total fees payable for your chosen programme.
Please visit our web pages on fees and funding for more information.
Additional Costs
In addition to your tuition costs, you can also expect to pay for:
- Books if you choose to buy your own copies
- Clothing for optional course related events and competitions
- Library fees and fines
- Personal photocopies
- Printing course handouts
- Society membership fees
- Stationery
- Graduation costs
- Travel costs for travel around London and between campuses
Funding
To find out more about bursaries, scholarships, grants, tuition fees, living expenses, student loans, and other financial help available at King's please visit the Fees and Funding section.
Financial Mathematics studies problems of financial decision by combining various techniques from pure and applied mathematics. This course covers a diverse range of topics, from classical options pricing theory to post-crisis financial mathematics on optimal hedging, investment and risk management. Like any branch of applied mathematics, financial mathematics analyses a given problem by first building a mathematical model for it and then examining the model. Both steps require detailed knowledge in different areas of mathematics, including probability, statistics, optimisation, computer science and many more traditional fields of mathematics. Our Financial Mathematics MSc is a unique course that encompasses the essential skills required for successful risk management, trading and research in quantitative finance: probability, statistics, optimisation, computing and financial markets. You will explore probability theories, risk neutral valuation, stochastic analysis, numerical methods, as well as interest rate and credit risk modules. We are members of the University of London and by arrangement, you can enrol in optional modules at other institutions within the University of London. We also offer you the opportunity to study an additional zero-credit supportive module called mathematical analysis for financial mathematics. You must take modules totalling 180 credits to complete the course. Full time students will complete the course in one year, from September to September. Part-time students will complete the course in two years. Bloomberg terminal laboratory King’s is one of only a few academic departments in the UK that offers full access to Bloomberg terminals. These terminals will provide you access to live financial data. They are heavily used within the financial industry, and the data they provide is critical in assisting traders in making investment decisions and for risk managers monitoring investment probabilities. We have a number of Bloomberg terminals available for use by the Financial Mathematics MSc course. You will use the Bloomberg terminals to: - gain an intuition for the conduct of real financial markets - develop potential investment strategies - experience using real-world investment and risk management software and obtain data for research. The skills you will learn from using the terminals are highly valued by employers. King’s is part of a strong network of financial mathematics in London with connections both in academia and in the industry.
Base campus
Strand Campus
Located on the north bank of the River Thames, the Strand Campus houses King's College London's arts and sciences faculties.
Please note that locations are determined by where each module is taught and may vary depending on the modules you study.
Regulating bodies
King's is regulated by the Office for Students
UK applicants
Standard requirements
A minimum high 2:1 undergraduate Bachelor’s (honours) degree with a final mark of at least 65% or above
If you have a lower degree classification, or a degree in an unrelated subject, your application may be considered if you can demonstrate significant relevant work experience, or offer a related graduate qualification (such as a Masters or PGDip).
Programme-Specific Requirements
Bachelor’s degree with a minimum High 2:1 honours degree with a final mark of at least 65% or above in mathematics or mathematics based subject.
Applicants would need to demonstrate previous study of Further Mathematics and Pure Mathematics.
In order to meet the academic entry requirements for this programme you should have a minimum High 2:1 undergraduate degree with a final mark of at least 65% or above in the UK marking scheme. If you are still studying you should be achieving an average of at least 65% or above in the UK marking scheme.
International applicants
Equivalent International qualifications
English language requirements
English language band:
D
To study at King's, it is essential that you can communicate in English effectively in an academic environment. You are usually required to provide certification of your competence in English before starting your studies.
Nationals of majority English speaking countries (as defined by the UKVI) who have permanently resided in this country are not usually required to complete an additional English language test. This is also the case for applicants who have successfully completed an undergraduate degree (of at least three years duration), a postgraduate taught degree (of at least one year), or a PhD in a majority English speaking country (as defined by the UKVI) within five years of the course start date.
For information on our English language requirements and whether you need to complete an English language test, please see our English Language requirements page.
Selection process
Applications must be made online using King’s Apply, the Admissions Portal.
A non-refundable application fee of £130 applies.
Due to the large volume of applications, this programme operates a partial “gathered-field” approach to decision making for applicants who meet our advertised academic entry requirements. This means that for some of these applicants, a decision may not be reached until after February and where possible, will be made by May. You will be informed via King’s Apply if your application has been assessed and being held as part of this process.
Personal statement and supporting information
You will be asked to submit the following documents in order for your application to be considered:
| Personal Statement | Yes |
A personal statement is required. You must answer the following two questions on the application form:
|
|---|---|---|
| Previous Academic Study | Yes | A copy (or copies) of your official academic transcript(s), showing the subjects studied and marks obtained. If you have already completed your degree, copies of your official degree certificate will also be required. Applicants with academic documents issued in a language other than English, will need to submit both the original and official translation of their documents. |
| References | Yes | One academic reference is required. A professional reference will be accepted if you have completed your qualifications over five years ago. In some cases, we may request an additional reference from you. |
| Other | Optional | Applicants may wish to include a CV (Resume) or evidence of professional registration as part of their application. |
Teaching methods - what to expect
Lectures
Group Tutorials
Independent Study
We use lectures and group tutorials to deliver most of the modules on the course. You will also be expected to undertake a significant amount of independent study.
Typically, one credit equates to 10 hours of work, e.g. 150 hours work for a 15 credit module. These hours cover every aspect of the module.
We will use a delivery method that will ensure students have a rich, exciting experience from the start. Face to face teaching will be complemented and supported with innovative technology so that students also experience elements of digital learning and assessment.
The majority of learning for this degree takes place at the Strand Campus, with occasional lectures and practical sessions taking place at the Waterloo Campus. Please note that locations are determined by where each module is taught and may vary depending on the optional modules you select.
Assessment
- Coursework
- Written/Practical Examinations
- Class Tests
- Quizzes
Your performance will be assessed through a combination of coursework and written/practical examinations. Forms of assessment may typically include unseen written exams, class tests, online quizzes and coursework submission.
The study time and assessment methods detailed above are typical and give you a good indication of what to expect. However, they are subject to change.
Structure
Courses are divided into modules. You will normally take modules totalling 180 credits.
Required modules
Probability Theory (15 credits)
Risk Neutral Valuation (15 credits)
MSc Financial Mathematics Project (60 credits)
MSc Financial Mathematics Project (60 credits) will be taken in the second year for those studying Part Time.
Other supporting module:
Mathematical Analysis for Financial Mathematics (0 credits)
Optional modules
If studying full time, you are required to take modules totaling 90 credits from a range of optional modules. Those studying part time are required to take 30 credits in the first year and 60 credits in the second year. Optional modules may typically include:
Financial Markets (15 credits)
Statistics in Finance (15 credits)
Stochastic Analysis (15 credits)
C++ for Financial Mathematics (15 credits)
Interest Rates and Credit Risk (15 credits)
Econophysics (15 credits)
Machine Learning (15 credits)
Numerical and Computational Methods in Finance (15 credits)
Elements of Statistical Learning (15 credits)
Scientific Computing for Finance (15 credits)
High-Frequency Finance (15 credits)
Stochastic Control and Applications to Algorithmic Trading (15 credits)
King’s College London reviews the modules offered on a regular basis to provide up-to-date, innovative and relevant programmes of study. Therefore, modules offered may change. We suggest you keep an eye on the course finder on our website for updates.
Please note that modules with a practical component will be capped due to educational requirements, which may mean that we cannot guarantee a place to all students who elect to study this module.
Employability
Our graduates are highly sought after by investment banks, corporate risk management units, insurance companies, fund management institutions, financial regulatory bodies, brokerage firms, and trading companies.
Recent employers of our graduates include Capital Investment, Credit Suisse, European Bank for Reconstruction & Development, Fitch Ratings, HSBC and Morgan & Stanley.
Some graduates have chosen to pursue postgraduate research degrees (PhDs) in Financial Mathematics at world-renowned universities.
Destinations
Recent graduates have found employment within the following job roles and companies:
- Manager, Hong Kong Monetary Authority
- Investment Management, Great Eastern
- Treasury & Liquidity Risk Models, Barclays
- Financial Controller, Sodexo
- Risk Analyst, Close Brothers Premium Finance
- Quantitative Analyst, Scope
- Analyst, JP Morgan
Tuition Fees
UK:
Full time: £13,500 per year (2025/26)
Part time: £6,750 per year (2025/26)
International:
Full time: £40,000 per year (2025/26)
Part time: £20,000 per year (2025/26)
These tuition fees may be subject to additional increases in subsequent years of study, in line with King’s terms and conditions.
Deposit
If you receive an offer for this programme, you will be required to pay a non-refundable deposit to secure your place. Deposit payments are credited towards the total tuition fee payment.
The Home deposit is £500. The International deposit is £2000.
- If you receive an offer before January, payment is due within two months of receiving the offer.
- If you receive an offer between 1 January and 20 May, payment is due within one month of receiving the offer.
- If you receive an offer between 21 May and 15 July, payment is due within two weeks of receiving the offer.
- If you receive an offer between 16 July and 10 August, payment is due within one week of receiving the offer.
- If you receive an offer from 11 August onwards, payment is due within three days of receiving the offer.
If you are a current undergraduate King’s student in receipt of the King's Living Bursary this academic year, you are not required to pay a deposit to secure your place on the programme. Please note, this will not change the total fees payable for your chosen programme.
Please visit our web pages on fees and funding for more information.
Additional Costs
In addition to your tuition costs, you can also expect to pay for:
- Books if you choose to buy your own copies
- Clothing for optional course related events and competitions
- Library fees and fines
- Personal photocopies
- Printing course handouts
- Society membership fees
- Stationery
- Graduation costs
- Travel costs for travel around London and between campuses
Funding
To find out more about bursaries, scholarships, grants, tuition fees, living expenses, student loans, and other financial help available at King's please visit the Fees and Funding section.
Application closing date guidance
We encourage you to apply as early as possible so that there is sufficient time for your application to be assessed and we may need to request further information from you during the application process.
The final application deadlines for this programme are:
· Overseas (international) fee status: 25 July 2025 (23:59 UK time)
· Home fee status: 25 August 2025 (23:59 UK time)
If the programme becomes full before the final application deadlines stated above, we will close the programme to further applications. Please note, you will not be eligible for an application fee refund if we are unable to process further offers because places are filled and we close the course before the final application deadline.
Key information
Study mode:
Full time
Part time
Duration:
One year full-time, two years part-time
Credit value (UK/ECTS equivalent):
UK 180/ECTS 90
Application status:
Open
Start date:
September 2025
Contact us
Open days and events
Chat with current students and King's staff to find out about the courses we offer, life at King's and ask any questions you may have.
King's financial mathematicians a hot commodity with Santander
Students from the Financial Mathematics MSc joined forces with mentors from Santander to tackle some of the bank’s trickiest...
Explore more
Find out more about our King's accommodation
Discover your accommodation options and explore our residences.
Chat to students and staff
Chat to current students and staff to find out about life at King's.
Connect with a King’s Advisor
Want to know more about studying at King's? We're here to help.
Learning in London
King's is right in the heart of the capital.