2024 QuantNet Rankings of UK Quant MSc Programs

[Andy Nguyen]

We are delighted to announce the upcoming release of the inaugural 2024 QuantNet ranking of the Best UK Quant MSc Programs.

Given the historical absence of a dedicated ranking for UK quantitative master’s programs, we believe this initiative will fill a significant gap and provide valuable insights for prospective students and industry stakeholders. We are confident that the UK rankings will be as well-received and impactful as our US MFE rankings, which have garnered over 4 million views to date.

This inaugural ranking features 11 programs that provided data for our 2024 survey. While many other programs showed strong interest in participating, they have yet to compile the requested data. Consequently, we anticipate a greater number of programs will participate in our future rankings.

The list of 11 programs in alphabetical order

• City, University of London, Bayes Business School MSc Financial Mathematics
• City, University of London, Bayes Business School MSc Mathematical Trading and Finance
• City, University of London, Bayes Business School MSc Quantitative Finance
• Imperial College London MSc Mathematics and Finance
• Queen's University Belfast MSc Financial Analytics
• University College London MSc Computational Finance
• University College London MSc Financial Risk Management
• University of Oxford MSc Mathematical and Computational Finance
• University of Warwick MSc Mathematical Finance
• University of York MSc Financial Engineering
• University of York MSc Mathematical Finance

Methodology

 

[Tigga]

Imperial is ranked #1 with Oxford, UCL, Warwick in the next 3 seem very logical from the data.
Congrats on releasing the UK rankings. It is much needed.

 

[MikeLawrence]

The salary information doesn't have the asterisk indicating it is reporting base + sign on. Is the average salary reported for the UK programs just the base?

 

[Prachin]

It's about time. Surprisingly, LSE is not there. I believe they offer Financial Mathematics and Financial Statistics at the Master's level. I wonder why?

 

[PepeQuant]

Why is Imprrial RMFE not in the list?

There are quite a lot of alumni profiles working in the industry.

 

[Andy Nguyen]

The salary information doesn't have the asterisk indicating it is reporting base + sign on. Is the average salary reported for the UK programs just the base?

Salary is base only. Many UK programs are not as diligent as US programs when it comes to collecting salary. With this ranking, I hope things will change for the better.

 

[Andy Nguyen]

It's about time. Surprisingly, LSE is not there. I believe they offer Financial Mathematics and Financial Statistics at the Master's level. I wonder why?

Both LSE programs were contacted, MSc Quantitative Methods in Risk Management from the Dept of Stats and MSc Financial Mathematics from Math Dept.
They do not have the data for the survey and will implement a mechanism to collect the data for the future rankings. We are excited that they express an interest in participating and we look forward to featuring them in our rankings.

 

[Andy Nguyen]

Why is Imprrial RMFE not in the list?
There are quite a lot of alumni profiles working in the industry.

Imperial RMFE and other programs are not ranked this round because they do not currently have the data required for this ranking. We expect that they will be ready for the next rankings.

 

[blrichard]

Would be interesting to see this across Europe as well! Would expect TU Munich, ETH/UZH, and EPFL to score highly, perhaps some in France and the Netherlands as well.

 

[dgpo]

Imperial RMFE and other programs are not ranked this round because they do not currently have the data required for this ranking. We expect that they will be ready for the next rankings.

Hey Andy. I understand that you don’t have the data required, however, as someone who has an offer for the Imperial RMFE (will likely join it), and who desires a career in quant, what’s your opinion of the course? And of course if any one else would like to give their opinion too, any would be appreciated!

 

[fufutoogud]

Perhaps it might also make sense to add the unranked universities like University of York to the application tracker when time permits so it makes sense to add it as an application as well.

 

[Andy Nguyen]

Perhaps it might also make sense to add the unranked universities like University of York to the application tracker when time permits so it makes sense to add it as an application as well.

Done. Added both York programs and UCL Financial Risk Management to the Tracker.

 

[matthieu_fisher]

Hi Andy.
Any idea on the sample size of students surveyed (mostly curious about salary) for the statistics given by Imperial/Oxford ?

 

[matthieu_fisher]

Hi Andy.
Any idea on the sample size of students surveyed (mostly curious about salary) for the statistics given by Imperial/Oxford ?

trying to understand how likely are the numbers upward-biased

 

[Andy Nguyen]

Hey Andy. I understand that you don’t have the data required, however, as someone who has an offer for the Imperial RMFE (will likely join it), and who desires a career in quant, what’s your opinion of the course? And of course if any one else would like to give their opinion too, any would be appreciated!

From what I can gather, they are easily one of the largest among quantitative programs with 170+ FT students each year. They receive 1,500+ applicants every year compared to 500+, 600+ received by the next group of UK programs like Imperial/Oxford/UCL.
Their placement seem to indicate a large percentage place into investment banking and risk management. Keep in mind that their placement stats are 6-month post graduation, a standard practice by business school reporting. You usually see a very high placement rate at 6 months compared to the 3-month placement rate that we use for our rankings.
This gives me the impression that they are closer to a quant-ish MSc Finance/MBA program than a traditional mathematical/FE program.

 

[fufutoogud]

Bit of a question with unranked schools. I have noticed a similar pattern with the unranked courses on RISK.net as well (Well done @Andy Nguyen for including the risk.net ranking on here when you view the schools). What is the catch with them. Are they good schools, are they good options if you cant get into the big schools?. For someone like myself who went to a school that isn't a target school in the UK but trying to go to a big school to do Maths and Comp FIn so i can switch to a quant dev role. I have tried applying to the big schools and just get rejected (Comp Sci background 4 year in software dev and 1st class degree). I do have offers from a couple of unranked schools (2 on the list actually- York and Bayes) and i always wonder why we never see much asked about them. Please be honest what is everyone thoughts about unranked schools on the list and in general, is there any point and what would be the pathway or steps someone should take if they are to go to such schools. I hope my question is clear enough.

 

[Andy Nguyen]

@fufutoogud
In general, there are many reasons why programs are unranked. Ranked programs generally do a better job at gathering important statistics, raising their profiles and being more popular as a result.
In my experience, you always have some successful people coming from unranked or lower ranked programs. These are exceptional students who do everything to get themselves an opportunity to get an interview and score well, despite a lack of resources
At better programs, there are dedicated resources and the opportunities are plentiful so you have a higher chance to get a job, despite not having to work as hard.

If you are willing to work harder/smarter than everyone then you can have the same chance to be successful.

 

[dgpo]

From what I can gather, they are easily one of the largest among quantitative programs with 170+ FT students each year. They receive 1,500+ applicants every year compared to 500+, 600+ received by the next group of UK programs like Imperial/Oxford/UCL.
Their placement seem to indicate a large percentage place into investment banking and risk management. Keep in mind that their placement stats are 6-month post graduation, a standard practice by business school reporting. You usually see a very high placement rate at 6 months compared to the 3-month placement rate that we use for our rankings.
This gives me the impression that they are closer to a quant-ish MSc Finance/MBA program than a traditional mathematical/FE program.

Ah I see. Many thanks for the reply, do you have any personal opinions about it? How good is it for a career in quant (rather than risk/IB)?

 

[fufutoogud]

I do @Andy Nguyen..I think if you look past the top rankings and take a look beyond that. I think some of the courses at the universities that are not ranked are good. I still think in general some of these uni that re not on this list in general still quote their courses as catered to quant roles when really it seems to be IB related. Herein, i am only referring to universities who are not ranked and teach highly quantitative and mathematical modules. From taking a look at linkedIn it is still seems that people do get jobs and place at good firms in the city(people who do not attend the ranked unis on this list). I do still think for the absolute top jobs, getting a PhD isn't far fetched. I will say a bit of extra hard work will be required in comparison to someone that went to a good uni(ranked). I have taken an indepth look at quantitative courses over the last few months as someone who will be starting a course in Sept 24 in a uni not ranked albeit on this list,this is my understanding, I can always shine more light on what i know or my findings if anyone has any questions i guess.

 

[gbm]

hi, just wanted to know which is better, university of glasgow, queens university of Belfast or new castle university.