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Master of Science (MSc)
Finance
More about the course
The program combines quantitative methods with practical applications to prepare you for a career in finance. After the first semester, you can choose to specialize in Actuarial Science, Financial Economics or Financial Mathematics. Coursework begins with foundation courses, which also enable students without a finance background to study this program. Other courses are designed to practice modern financial techniques and to develop research and presentation skills. Example applications are risk management, pricing of insurance products and trading. We regularly update course content to reflect changing issues and trends, such as artificial intelligence, climate risk or cryptocurrencies.
Academic Degree
Master of Science (MSc)
Type of Study
- Full-time
Study Curriculum
Application
Admission Regulations
Start of Study
- each winter semester
Orientation Offer
Language of instruction
- English
Admission Requirements
- No restriction
ECTS Credits
120
Standard Period of Study
4
News on the Master in Finance
As part of a Finance seminar, a group of twenty students visited DZ Bank in Frankfurt, accompanied by Professor Löffler. The day began with a presentation on the bank’s capital markets business, which sparked lively discussions on current market developments. A tour of the trading floors followed, offering students a first-hand look at the daily work of finance professionals.
This was followed by a presentation on structuring investment products, which provided a deeper understanding of product design in capital markets. The visit concluded with a student talk on a project developed during the course in Ulm. After the official program, the group had the chance to explore Frankfurt’s city center and enjoy the skyline along the river Main.
Many thanks to the DZ Bank team for their warm hospitality and for providing such a valuable experience.
Read more news in our News Archive and on LinkedIn.
Study Plan for the Specialization in Actuarial Science
Study Plan for the Specialization in Financial Economics
Study Plan for the Specialization in Financial Mathematics
Who should apply?
- You do not need any prior knowledge in finance. The compulsory courses of the first semester are structured such that they can serve as an introduction to finance.
- You should have a genuine interest in quantitative modeling and analysis.
- You do not need to know yet in what area to specialize in. You can figure this out during your studies at Ulm University.
- You can apply if you have earned (or are in the process of earning) a Bachelor's degree in actuarial science, computer science, economics with a quantitative focus, engineering, mathematics, physics or other quantitiative subjects.
- The program is taught in English. You don't need any knowledge of German but you can learn it during your studies.
What kind of courses do we offer?
- Core courses (Asset Pricing, Derivatives, Discrete Time Financial Mathematics) introduce you to the most important concepts. Whether they are compulsory or not depends on your specialization.
- In practical courses, you will gain experience in implementing modern financial techniques. In seminars, you will write and present papers and thereby prepare for the Master’s thesis.
- Elective courses are courses from which you can choose within in a field. They range from courses that deepen your knowledge of methods to courses that focus on specific topics in a field.
- Language or soft skill courses: Most students who come from abroad choose to take German language courses, but there are many other courses that qualify.
Which specialization?
- The specialization Actuarial Science is the right choice for you if you are interested in actuarial science and insurance. You can also take examinations of the German Association of Actuaries (DAV) during your studies.
- The specialization Financial Economics focuses on understanding and predicting stock returns, on measuring credit and market risk, and on financial institutions and markets. The specialization provides a lot of flexibility with respect to course choice.
- The specialization Financial Mathematics is the right choice for students who have a strong interest in mathematics and want to become experts in the mathematical and stochastic concepts widely used in the financial industry.
Elective modules allow students to choose from a wide range of lectures assigned to specific areas, such as Actuarial Science, Financial Economics, Mathematics and Quantitative Methods. Students therefore have a diversified set of lectures to choose from, which can be found in the module handbook.
How and where students find jobs
Among employers, Ulm University has an excellent reputation for well-trained finance students. One proof of this is the annual career fair at Ulm University, in which around 50 companies participate. It is an excellent opportunity to talk to companies about an internship or a job.
Many of our students who come from abroad to study in Ulm decide to stay in Germany and find jobs in Germany's financial centres like Munich, Frankfurt, Stuttgart or Düsseldorf. For some of the jobs offered in Germany, employers expect graduates to have a good knowledge of German. However, many of our students have secured such jobs even though they had no knowledge of German when they arrived - they have learnt German through the language courses we offer.
Application and Admission Requirements
Application (online) is possible from February to March 15, 2025 for a study start in October 2025. Key requirements are:
- Bachelor's degree (ideally in: computer science, economics with a quantitative focus, engineering, mathematics, physics). You can also apply if you haven’t finished your Bachelor's yet but expect to complete it before the Master program starts.
- Good knowledge of the English language (internet-based TOEFL test ≥ 72; or IELTS ≥ 5.5). No test certificate is required if your Bachelor was taught in English or your mother tongue is English.
For the the full list of requirements and application documents and the online application portal visit the webpage of the admissions department.
Support for applicants and new students
Support for applicants
- We offer regular online information sessions.
- If you are not sure whether you meet the entry requirements, you can send us your Bachelor transcript for a preliminary check.
- Information about the documents required for the application is available on the webpages of the admissions department.
Support for newly admitted students
- If you wish, we will reserve a room in a student residence, with affordable rents.
- There is an orientation week for new students at the beginning of term.
- A pick-up service is available from Ulm main station, where senior students will accompany you to your dorm and the welcome event. They will also be happy to answer any practical or everyday life questions you may have upon your arrival in Ulm.
We provide information and practical assistance with formalities (residence permit, health insurance, etc.)
Given that Ulm is not a financial center, how can Ulm University provide a perfect preparation for a career in finance?
- Our faculty members are internationally renowned experts. See, for example, this report about awards received by our actuarial science group.
- As a student, you can get hands-on experience in the industry, through internships and working student positions. See, for example, this LinkedIn post.
- Stay ahead with the current topics that we adress in research and teaching. For an insight, listen to this podcast on a research paper on green bonds, co-authored by one of our professors.
- Studying in a small, beautiful city makes you to feel at home and helps you to get on with your studies.
Pathways abroad
Students at Ulm University can apply for one or two semesters abroad at numerous universities, both throughout Europe as part of the ERASMUS program and outside Europe. Internships abroad and master's theses at other universities are also possible.
Ulm University has exchange agreements with over 100 universities in 26 countries.
For students in the MSc Finance, the following exchange programs are of particular interest:
- Erasmus exchange programs with European universities. For example, Finance students have studied in Bologna or Cyprus.
- Bilateral exchange programs with universities from all over the world (US, Canada, Singapore, Australia)
The unique exchange program with US universities run by our faculty. Students can go there for one year and earn a Master's in Statistics or Mathematics.
What graduates of the MSc Finance say
Read more testimonials here.
The MSc Finance LinkedIn profile also contains posts from students, which give you an insight into what students like about the programme and the experiences they gain during their studies.
Jovana, from Serbia, now at a rating agency
The experience I gained during the two years I spent in Ulm prepared me in the best possible way for my future career and enabled me to enter a leading-edge company in the area of investment and risk.
Sirui, from China, now studying for a PhD
Studying at Ulm University has always been one of the best experiences to me. In my view, this is a great place where excellent faculty and brilliant students meet.
Tobias, from Germany, now a consultant
What I liked most about the Master in Finance program in Ulm was not only the great support from the institutes, but also the practical applications of quantitative topics as well as the large selection of topics in the curriculum for personal interest and further development.
In finance, formulas can be pretty useful.
Have fun working with data.
Students and alumni at the annual career fair.
Video about the MSc Finance
Video about Ulm and Ulm University
Key information summarized in our brochure.
Career Perspectives
Many of our graduates go on to work for global players in banking or insurance. Employers of MSc Finance graduates include: Bank of America, Allianz, KPMG, Deutsche Bank, Goldman Sachs, UniCredit, Bank of China, and many more.
Others work for consulting firms, particularly ones focusing on risk management and the financial industry, central banks, financial regulators or in the finance departments of non-financial firms. Some of our graduates also go on to do PhDs.
According to a recent survey, 100% of our graduates found a job within 6 months of graduation.
Christopher, Bank of America Merrill Lynch
The MSc Finance program in Ulm has the capacity to equip students with the knowledge and skills necessary for a successful career in the financial industry. The flexible structure and wide range of courses offer numerous directions of specialization, and an invaluable cultural experience is obtained through studying with colleagues from across the globe.
Studying and Living in Ulm
Ulm, the birthplace of Albert Einstein, has plenty to offer in terms of leisure activities. The city is beautiful and cosy, yet full of life. You can meet your friends in one of the many cafes, pubs or parks. Events such as the Nabada (carnival on the river) and the International Danube Festival (food, craft and music) will get you up and about in this medieval city of quaint alleyways and lush green parks.
Mission accomplished! We hope you now have all the information you need about the MSc Finance
Last step: If you answer many of the following questions in the positive, the MSc Finance may be the ideal program for you:
Are you interested in applying quantitative methods, mathematics and statistics to real-world problems?
Are you curious about the world of finance?
Do you enjoy programming?
Do you enjoy working in an international environment?
Did you do get above average grades in mathematics and statistics in your Bachelor's degree?
Yes? Apply
Questions remaining? Online information session
Contact
Student counseling
University Ulm
Stefan RauschInstitute of Finance