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Open for Clearing 2024

BSc (Hons) Financial Mathematics

Key information

UCAS code
GGC3
Level
Undergraduate
Delivery type
Full Time
Degree qualification
BSc (Hons)
Mode of delivery
On-Campus
Duration
4 years
Location
Edinburgh
Start date
September

If you’re looking for a career in the world of finance and love mathematical challenges, then a BSc in Financial Mathematics is the degree for you. Just as civil engineering deals with the design, construction and maintenance of buildings and roads, financial mathematics is concerned with the design, construction, and maintenance of financial products. Careers in financial mathematics offer some of the best salaries of all professions, and graduates working in this area thrive on being presented with interesting challenges on a day-to-day basis.

Our Financial Mathematics programme develops the skills and knowledge required by the modern investment and asset management industry, where structured finance and relative value trading strategies dominate. The emphasis is on developing a range of practical skills relevant to the increasingly mathematical and ever-evolving world of contemporary finance.

Financial Mathematics graduates are in demand for careers in banking, investments, trading, or risk management in any business sector.

Our programmes are designed with flexibility in mind, so if you fancy a change of direction you can transfer to a range of other mathematical, statistical or actuarial programmes during the first two years.

Your student experience

Your Financial Mathematics learning will be informed by the expertise of our research-active academics whose work covers the following areas:

  • Quantitative Finance Modelling: Mastery of mathematical and statistical methods for financial analysis and modelling.
  • Derivatives and Risk Management: Expertise in asset valuation, hedging strategies, and risk management principles.
  • Computational Finance: Development of efficient algorithms and programming for financial analysis and decision-making.
  • Machine Learning for Finance: Utilizing AI, predictive analytics, and big data to enhance financial decision-making and trading strategies.
  • Financial Mathematics: Equipping students with advanced quantitative and analytical skills for success in the financial services industry.
  • Research Excellence: In the recent Research Excellence Framework (REF2021), we ranked first in Scotland for Mathematical Sciences research. This underscores our commitment to excellence in applied mathematics fields like optimization, computation, statistics, and analysis that drive innovation across industries.

What Financial Mathematicians do

  • They manage financial risk and design new financial products
  • They are experts in deciding which assets to choose to fit the investment needs of their clients
  • They do this by analysing the past and modelling the future
  • They apply financial mathematics, probability, statistics, economics, and finance to solve problems in banking and investment

Go Global

There are currently no Go Global opportunities for this particular programme. However, other Go Global opportunities may be available. Please contact studywithus@hw.ac.uk for more information.

Course content

September Intake - Edinburgh

Introduction to Statistical Science; Calculus; Introduction to University Mathematics; Professional Development Planning; Finance; Economics and practical work.

Mandatory September

  • Introductory Economics
  • Calculus A
  • Introduction to University Mathematics
  • Topics in Statistical Practice

Mandatory January

  • Finance and Financial Reporting
  • Calculus B
  • Professional Development Planning
  • Elements of Probability

Programme Video

Actuarial Mathematics and Statistics at Heriot-Watt

Fees and funding

StatusFee
ScotlandPaid by SAAS
England / Wales / N Ireland / Rep of Ireland£9,250
International£18,704
  • Status: Your residency status is usually defined as the country where you have been ordinarily resident for the three years before the start of your course.
  • International: 'International' includes applicants from European Union countries who do not hold Pre-Settled or Settled status in UK. (This does not include students from the Republic of Ireland - see above).

Scholarships and bursaries

Bursaries for students from England, Northern Ireland or Wales

In addition to government loans and grants towards the costs of fees and living costs, we are offering generous financial support to attract and support eligible undergraduate students from England, Northern Ireland or Wales:

  • Heriot-Watt University Bursary (up to £3,100 per year)
View details

Entry requirements

We have standard entry requirements for all of our courses that you will have to meet.

Standard entry requirements

  • Highers AAAB including Mathematics at A
  • A-Levels AAB - AAA including Mathematics at A
  • Int. Baccalaureate 28 points with higher level Mathematics at 6
  • BTEC DDD including sufficient Mathematics

Minimum entry requirements*

  • Highers ABBC including Mathematics at A
  • A-Levels ABC including Mathematics at A

* Minimum: under our Fair Access Policy, we will relax our standard entry requirements for some Scottish students depending on their circumstances. Our minimum requirements will apply if you:

  • live in an area within the Scottish Index of Multiple Deprivation lowest 20% (SIMD20), or
  • are care experienced.

We can also make exceptions for some Scottish students with grades above minimum but below standard. Read more about our Minimum and standard entry requirements

Why Heriot-Watt

We're the top university in Scotland for graduate outcomes which means that more of our graduates are employed or in postgraduate education than any other institution in the country and we ranked 5th in the UK.

We're also rated number one in the UK for CEO or MD roles, meaning more of our graduates go on to become CEOs or MDs than any other university in the whole of the UK. On top of that, we have beautiful campuses, across the globe, so you'll get a truly international education. Our Edinburgh Campus is home to Oriam, Scotland's National Sports Performance Centre combined with plenty of wellbeing resources, prioritising fitness and mental health for all students. Our Global Research Institutes look at solving real world issues such as climate change and saving our oceans as well as working on the next medical technological breakthrough and the future of AI and robots.

Employability

Work and study

This is what our BSc (Hons) Financial Mathematics students are doing 15 months after graduating:
70%
are working
5%
are studying
20%
are studying and working

Salary

£32000
The average salary of students 15 months after graduating
£30000
The average UK salary of students 15 months after graduating from a similar course

Potential career paths

  • Business, Research and Administrative professionals
  • Finance professionals

Student life

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