Quant Finance Master's Guide 2023: TUM master's program ranked 15th

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In the annual ranking of the world's leading quantitative finance master's programs published by Risk.net, the Mathematical Finance and Actuarial Science (MFAS) degree program at TUM is ranked 15th this year. This makes it one of the 25 best master's programs in quant finance worldwide.

Students in front of the MI building on the Garching campus
According to Risk.net, the Mathematical Finance and Actuarial Science degree program at CIT is among the top 25 master's programs in QuantFinance worldwide (Photo: Andreas Heddergott / TUM).

Risk.net publishes news and analyses from the financial industry as well as several academic journals. This year's edition of the "Quant Finance Master's Guide" lists a total of 50 master's programs. Risk.net determines the top 25 according to the methodology described below.

MFAS among the top 4 in Europe

A total of eleven master's programs from outside the USA are represented in the top 25 – the master's program in Mathematical Finance and Actuarial Science at the TUM School of Computation, Information and Technology (CIT) is the only program from Germany. In a European comparison, the degree program ranks fourth after ETH Zurich (7th), Sorbonne University in Paris (8th) and Imperial College London (9th).

Eight metrics were examined

To compile the ranking, Risk.net considered eight metrics, including the average class size, the acceptance rate as an indicator of the selectivity of a program, and the employment rate in the finance sector six months after graduation. The total score is the sum of the eight standardized metrics, with the institution with the highest score taking the top position.

About the master’s program

Risk management or portfolio theory, auditing or tax consultancy: The English-language master's program Mathematical Finance and Actuarial Science at CIT ideally prepares students for a career in the financial market sector or insurance industry.

The focus of the master’s program depends on the area of specialization: mathematical finance or actuarial science. This is supplemented by courses from the other focus area, by courses from economics and from other sub-areas of pure and applied mathematics. In addition, interdisciplinary courses help students to acquire and enhance their soft skills.