Why are MSc's in Mathematical Finance so expensive? Watch

countduckula1906
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I would love to take a masters in mathematical finance however the price of these courses at university's I'm interested in have an average price of about £30k.

Does anyone know the reason for this, considering the avg price of a masters is about £10k?
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WarwickMaths281
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Because of high demand. Loads of people want to do Mathematical Finance because it's an easy way into a high paying job.
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kkboyk
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(Original post by countduckula1906)
I would love to take a masters in mathematical finance however the price of these courses at university's I'm interested in have an average price of about £30k.

Does anyone know the reason for this, considering the avg price of a masters is about £10k?
Main reason that postgrad programs that is finance/business related are so expensive because of the cost structure of business schools. Its also because of the opportunities available (e.g. trading room, practical project where you will be solving actual business issues with local companies and the likes); access to networking opportunities (including alumni who are working in big firms, campus events hosted by particular companies that targets grads), brand name (being the most important aspect). Lots of business schools have hiked up their fees to appear more competitive. Also most graduates from business schools tend to earn a lot more compared to others.

Have you looked at other unis such as Manchester, Nottingham, Loughborough, Durham, Leeds, Exeter? They offer a much cheaper fees compared to London unis and the top business schools. Also what sort of career do you want to get into?
Last edited by kkboyk; 1 month ago
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countduckula1906
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(Original post by kkboyk)
Main reason that postgrad programs that is finance/business related are so expensive because of the cost structure of business schools. Its also because of the opportunities available (e.g. trading room, practical project where you will be solving actual business issues with local companies and the likes); access to networking opportunities (including alumni who are working in big firms, campus events hosted by particular companies that targets grads), brand name (being the most important aspect). Lots of business schools have hiked up their fees to appear more competitive. Also most graduates from business schools tend to earn a lot more compared to others.

Have you looked at other unis such as Manchester, Nottingham, Loughborough, Durham, Leeds, Exeter? They offer a much cheaper fees compared to London unis and the top business schools. Also what sort of career do you want to get into?
Hi, sorry for the slow reply. Thank you for the insightful information, makes much more sense now. I'd love to be a quant, I achieved a first class in my BSc Mathematics, and I chose modules that were inline with finance. So the only limiting factor now is funding. I would consider other university's, however I live south of London- so I'd only really consider London unis.
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mnot
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(Original post by countduckula1906)
Hi, sorry for the slow reply. Thank you for the insightful information, makes much more sense now. I'd love to be a quant, I achieved a first class in my BSc Mathematics, and I chose modules that were inline with finance. So the only limiting factor now is funding. I would consider other university's, however I live south of London- so I'd only really consider London unis.
Well people view UCL, LSE, Imperial with this sort of MSc as a ticket into IB, hedge funds etc. hence it attracts many many applicants thinking this will get them some great job at Goldman Sachs. PG doesn't have a fee cap hence unis can charge what they want, and if they plenty of well qualified applicants they can set the price high.

You can wither look at alternative unis: Warwick, Bristol, Nottingham, Durham (although 3 of these arent in the south...) these still well respected not as good prospects as Imperial but there as good as it gets outside of the ludicrously priced unis. Or you can skip the MSc and go straight into a job if you feel you are suitably qualified.
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Finito
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30k is mental
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kkboyk
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(Original post by countduckula1906)
Hi, sorry for the slow reply. Thank you for the insightful information, makes much more sense now. I'd love to be a quant, I achieved a first class in my BSc Mathematics, and I chose modules that were inline with finance. So the only limiting factor now is funding. I would consider other university's, however I live south of London- so I'd only really consider London unis.
Honestly, you're not going to be able to afford to do a masters in a good london uni, they're way above £19k for tuition fees. Your only alternative is either to work for some time to save enough to afford to go to a london uni; apply to the unis I've suggested (which are good and are targeted by banks); go abroad to a top business school which many are cheaper than UK.

Have you gained some relevant experience and have gotten a grad job?
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mnot
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(Original post by Finito)
30k is mental
People take loans out for these things, its not just MSc in Comp finance, MBAs, MIM (master in management) all charge small fortunes...
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Finito
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(Original post by mnot)
People take loans out for these things, its not just MSc in Comp finance, MBAs, MIM (master in management) all charge small fortunes...
I'm aware but many would have already taken out loans for their undergraduate courses
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mnot
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(Original post by Finito)
I'm aware but many would have already taken out loans for their undergraduate courses
Very true, additionally the London unis are also flooded with a mountain of international applicants who will pay almost anything as they think it will land them a job in a desirable London firm. To be fair if you become a VP in a BB it is a very good return on investment, that said I think its very possible to get through degree and not be make it into one of those firms.
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