Master of Science in Quantitative Finance
The Master of Science in Quantitative Finance is a collaborative program between the University of Zurich and ETH Zurich, offering students the opportunity to benefit from the expertise of two leading research groups at top institutions. With its location in Zurich, a major financial center, students have access to a strong collaboration with the financial industry, including internship opportunities.
About the Program
The Master of Science in Quantitative Finance is a specialized program with a strong international focus. It is taught entirely in English and offers students a unique education in quantitative methods for finance and economics, including fundamental concepts of finance, financial markets, asset management, and risk management.
One of the key features of the program is its unique combination of economic theory and mathematical methods, such as probability theory, statistics, econometrics, and numerical analysis. In addition, the program covers current developments in FinTech through several lectures.
Students also benefit from the program's close collaboration with the financial industry, including opportunities for internships, as well as its location in the heart of Zurich, a major financial center.
The Master in Quantitative Finance offered by UZH and ETH is a highly competitive program, currently ranked #1 in Europe, and top 5 in the world. Much of the program is mathematical in nature. As such, students with ambitions to enter this program will need the requisite mathematics. The required level of mathematics exceeds the typical courses taken at the bachelor level. An outline of the required coursework includes linear algebra, probability theory, advanced (multivariate) calculus, real analysis, an exposure to measure theory, an exposure to Fourier analysis and transforms, and an exposure to stochastic calculus, as used in mathematical finance and financial engineering.
To assist in the course offerings, our department (via Professor Paolella) offers courses in: Analysis I and Analysis II, Measure Theory, and Linear Algebra. Analysis I is a rigorous, proof-based course on univariate calculus, and will also cover an introduction to Fourier series and transforms (which are required for quantitative risk management and option pricing). Analysis II is a continuation that covers material in preparation for measure theory (which is needed for graduate level courses in mathematical finance and financial engineering), and multivariate calculus, with emphasis on material required for optimization and machine learning. All of these courses are offered with ambitious finance students in mind, as opposed to students majoring in mathematics. The level of the courses is quite high, and typically require more time than most courses, but they are taught at a lower level than what is offered from the UZH and ETH math departments. The goal is to make the material accessible to highly motivated students with ambitions on working as "quants" in industry (finance, but also insurance), and/or entering the quant finance masters program, or also doing a PhD in Finance. Specific course information and offerings can be found by a usual search on the VVZ webpage.
Career Prospects and Further Study Programs
Upon completing the Master of Science in Quantitative Finance, graduates are well-prepared to assume positions of responsibility in specialist and management roles within the banking, insurance, and consulting industries, as well as in the public sector. The degree also equips graduates with the necessary skills to enter scientifically oriented professional fields, pursue further doctoral studies, or take up challenging positions in quantitative areas of the financial services industry. Graduates can pursue a range of career paths such as investment banking, financial analysis, risk management, portfolio management, or financial consulting.