Financial Mathematics: Program Overview, Universities, Careers & Salaries

Q: Which universities have the largest Financial Mathematics programs?

Currently 118 accredited institutions offer Financial Mathematics degrees across the U.S. Programs with the highest enrollment include Fordham University (269 graduates), Washington University in St Louis (WashU) (231 graduates), and University of Southern California (USC) (174 graduates).

Q: Is enrollment in Financial Mathematics growing or declining?

Graduate numbers have increased over the past decade, rising from 351 in 2010 to 5,335 in 2023-24. This represents a 1,420% increase overall from 2010.

Q: What career paths are available with a Financial Mathematics degree?

This degree prepares you for roles such as Natural Sciences Managers, Mathematicians, and Economists. Related occupations employ approximately 930,240 professionals nationwide.

Program Overview

Financial Mathematics is an advanced interdisciplinary field that equips students with the quantitative tools and analytical frameworks essential for addressing complex challenges in modern finance. By integrating rigorous mathematical techniques with real-world financial applications, the program prepares learners to model, analyze, and optimize financial systems with precision and insight.

Probability Theory: Explores the mathematical foundations of uncertainty, enabling accurate forecasting and risk assessment in financial decision-making.
Statistical Analysis: Focuses on data-driven inference and hypothesis testing, crucial for evaluating market trends and validating financial models.
Numerical Methods: Covers computational algorithms for solving complex equations that arise in derivative pricing and portfolio optimization.
Computation and Simulation Methods: Emphasizes the use of programming and Monte Carlo techniques to model financial scenarios under uncertainty.
Stochastic Processes: Studies random processes over time, forming the backbone of dynamic models in asset pricing and risk management.
Economics: Provides a foundational understanding of market behavior, resource allocation, and macroeconomic influences on financial systems.
Financial Markets and Applications: Applies theoretical knowledge to real-world contexts such as securities trading, investment strategies, and financial engineering.

Financial Mathematics Graduate Trends (2010-2024)

5,335

Total Graduates (2023-2024)

118

Universities & Colleges

Career Pathways

Career & Salary Outlook Schools Offering This Program Related Programs

Financial Mathematics Career Pathways & Salary Outlook

The following table presents salary data for occupations typically aligned with Financial Mathematics degrees, including Natural Sciences Managers, Mathematicians and Economists. These career paths represent common employment outcomes but are not guaranteed for all graduates. Salary ranges vary by location, employer, experience level, and specific role requirements. Nationally, these occupations employ approximately 930,240 professionals.

National Average Salaries

Occupation	Median Salary	Salary Range	Total Employment	Hourly Rate
Natural Sciences Managers 11-9121	$161,180	$79,830 - $239,200	100,870	$77.49
Mathematicians 15-2021	$121,680	$63,430 - $187,660	2,220	$58.50
Economists 19-3011	$115,440	$62,340 - $212,710	15,880	$55.50
Data Scientists 15-2051	$112,590	$63,650 - $194,410	233,440	$54.13
Financial Risk Specialists 13-2054	$106,000	$62,270 - $182,310	56,320	$50.96
Financial and Investment Analysts 13-2051	$101,350	$62,410 - $180,550	340,580	$48.73
Financial Specialists, All Other 13-2099	$80,190	$46,420 - $151,780	127,450	$38.55
Mathematical Science Teachers, Postsecondary 25-1022	$79,350	$48,150 - $161,020	48,820	N/A
Mathematical Science Occupations, All Other 15-2099	$71,490	$40,330 - $154,140	4,660	$34.37

Salary Comparison

Data Source: Salary and employment data from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) program, May 2024 estimates, based on 9 related occupations. Career pathways mapped using CIP-SOC crosswalk from the National Center for Education Statistics.

*Salary Range Explanation: The salary range represents the 10th to 90th percentile, meaning 80% of workers in this occupation earn within this range. This excludes the lowest 10% and highest 10% of earners to provide a more realistic picture of typical compensation.

Important Disclaimer: Salary data represents national averages and varies by location, experience, employer, and market conditions. These statistics are estimates for general guidance and do not guarantee specific employment outcomes for graduates.

Financial Mathematics Salary Map by State

Geographic location significantly impacts earning potential for these careers. Average salaries range from $67,772 in Louisiana to $133,303 in California—a 97% difference. The highest-paying states include California, District of Columbia, and New York. Nationwide, these occupations employ over 930,240 professionals across all states. Explore the interactive map below to compare regional compensation and identify optimal markets for your career goals.

Average Salary Range:

Top Universities for Financial Mathematics by Graduate Enrollment

Below are the top 100 institutions offering Financial Mathematics programs for the 2023-2024 academic year (the most recent data reported as of 2025), ranked by the number of graduates. The highest graduate enrollment in Financial Mathematics is found at Fordham University (269 graduates), Washington University in St Louis (WashU) (231 graduates), University of Southern California (USC) (174 graduates), University of Illinois Urbana-Champaign (UIUC) (171 graduates), and Northeastern University (NU) (164 graduates). Combined, these colleges produced 5,286 graduates across all degree levels. Program availability varies by award level, including Associate, Bachelor's, Master's, and Doctoral degrees at participating universities and schools.

College Name	Award Levels	Graduates	Admissions	Location	Control	Website
Fordham University	Bachelor's Master's	269	SAT: 1330-1490 ACT: 30-33	Bronx, New York	Private	fordham.edu
Washington University in St Louis (WashU)	Master's	231	SAT: 1500-1570 ACT: 33-35	Saint Louis, Missouri	Private	wustl.edu
University of Southern California (USC)	Bachelor's Master's	174	SAT: 1440-1550 ACT: 32-35	Los Angeles, California	Private	usc.edu
University of Illinois Urbana-Champaign (UIUC)	Master's Doctorate (R)	171	SAT: 1270-1510 ACT: 29-34	Champaign, Illinois	Public	illinois.edu
Northeastern University (NU)	Master's	164	SAT: 1460-1550 ACT: 33-35	Boston, Massachusetts	Private	northeastern.edu
Stevens Institute of Technology	Bachelor's Postbac Cert. Master's Doctorate (R)	161	SAT: 1370-1500 ACT: 31-34	Hoboken, New Jersey	Private	stevens.edu
The University of Texas	Postbac Cert. Master's	159	SAT: 1170-1410 ACT: 25-32	Richardson, Texas	Public	utdallas.edu
Massachusetts Institute of Technology (MIT)	Bachelor's Master's	151	SAT: 1510-1580 ACT: 34-36	Cambridge, Massachusetts	Private	web.mit.edu
Vanderbilt University (VU)	Master's	146	SAT: 1510-1560 ACT: 34-35	Nashville, Tennessee	Private	vanderbilt.edu
University of California (UCSD)	Master's	133	N/A	La Jolla, California	Public	ucsd.edu
University of California (UCI)	Master's	127	N/A	Irvine, California	Public	uci.edu
Carnegie Mellon University (CMU)	Bachelor's Master's	104	SAT: 1500-1570 ACT: 34-35	Pittsburgh, Pennsylvania	Private	cmu.edu
University of Chicago (UChicago)	Master's	102	SAT: 1510-1570 ACT: 34-35	Chicago, Illinois	Private	uchicago.edu
University of Utah (U of U)	Master's	97	SAT: 1180-1398 ACT: 22-29	Salt Lake City, Utah	Public	utah.edu
University of Notre Dame (ND)	Master's	95	SAT: 1440-1540 ACT: 33-35	Notre Dame, Indiana	Private	nd.edu
University at Buffalo (UB)	Master's	93	SAT: 1210-1380 ACT: 27-32	Buffalo, New York	Public	buffalo.edu
Indiana University (IUB)	Master's	90	SAT: 1170-1400 ACT: 27-32	Bloomington, Indiana	Public	indiana.edu
The University of Texas	Master's Doctorate (R)	88	SAT: 1230-1490 ACT: 27-33	Austin, Texas	Public	utexas.edu
Georgia State University	Postbac Cert. Master's	85	SAT: 1040-1280 ACT: 19-26	Atlanta, Georgia	Public	gsu.edu
Ohio State University	Master's	84	SAT: 1330-1480 ACT: 29-32	Columbus, Ohio	Public	osu.edu
University of California (UCB)	Master's	82	N/A	Berkeley, California	Public	berkeley.edu
Boston University (BU)	Master's Doctorate (R)	79	SAT: 1400-1520 ACT: 32-34	Boston, Massachusetts	Private	bu.edu
University of Connecticut (UConn)	Bachelor's Master's	76	SAT: 1210-1420 ACT: 29-33	Storrs, Connecticut	Public	uconn.edu
University of Cincinnati (UC)	Bachelor's Postbac Cert. Master's Doctorate (R)	76	SAT: 1150-1360 ACT: 24-29	Cincinnati, Ohio	Public	uc.edu
University of New Haven (UNH)	Bachelor's Master's	75	SAT: 1090-1260	West Haven, Connecticut	Private	newhaven.edu
University of Miami (UM)	Master's	70	SAT: 1330-1470 ACT: 30-33	Coral Gables, Florida	Private	miami.edu
Babson College	Master's	69	SAT: 1380-1500 ACT: 30-33	Wellesley, Massachusetts	Private	babson.edu
Southern Methodist University (SMU)	Master's	68	SAT: 1320-1480 ACT: 30-34	Dallas, Texas	Private	smu.edu
Yale University	Master's	67	SAT: 1500-1580 ACT: 33-35	New Haven, Connecticut	Private	yale.edu
Boston College (BC)	Master's	66	SAT: 1430-1540 ACT: 33-34	Chestnut Hill, Massachusetts	Private	bc.edu
DePaul University	Master's	65	SAT: 1130-1340 ACT: 26-31	Chicago, Illinois	Private	depaul.edu
New York University (NYU)	Master's Doctorate (R)	63	SAT: 1480-1570 ACT: 33-35	New York, New York	Private	nyu.edu
Duquesne University	Bachelor's	61	SAT: 1160-1350 ACT: 26-31	Pittsburgh, Pennsylvania	Private	duq.edu
Tulane University of Louisiana	Master's	57	SAT: 1390-1510 ACT: 31-33	New Orleans, Louisiana	Private	tulane.edu
Georgia Institute of Technology (Georgia Tech)	Master's	55	SAT: 1330-1530 ACT: 28-34	Atlanta, Georgia	Public	gatech.edu
University of Minnesota (UMN)	Master's	54	SAT: 1310-1480 ACT: 27-31	Minneapolis, Minnesota	Public	twin-cities.umn.edu
Brandeis University	Master's	52	SAT: 1390-1530 ACT: 31-34	Waltham, Massachusetts	Private	brandeis.edu
University of Iowa	Master's Doctorate (R)	45	SAT: 1130-1320 ACT: 22-28	Iowa City, Iowa	Public	uiowa.edu
University of Virginia (UVA)	Master's	43	SAT: 1410-1530 ACT: 32-34	Charlottesville, Virginia	Public	virginia.edu
Pennsylvania State University	Postbac Cert. Master's	42	SAT: 1220-1400 ACT: 27-32	University Park, Pennsylvania	Public	psu.edu
University of San Diego (USD)	Master's	41	N/A	San Diego, California	Private	sandiego.edu
University of Maryland (UMCP)	Master's	41	SAT: 1370-1520 ACT: 32-35	College Park, Maryland	Public	umd.edu
University of North Texas (UNT)	Master's	41	SAT: 980-1230 ACT: 19-27	Denton, Texas	Public	unt.edu
George Washington University (GW)	Postbac Cert. Master's	40	SAT: 1350-1500 ACT: 31-34	Washington, District of Columbia	Private	gwu.edu
University of Arizona	Master's	38	SAT: 1160-1420 ACT: 21-30	Tucson, Arizona	Public	arizona.edu
Bentley University	Master's	38	SAT: 1250-1410 ACT: 29-32	Waltham, Massachusetts	Private	bentley.edu
Portland State University (PSU)	Master's	38	N/A	Portland, Oregon	Public	pdx.edu
University of California (UCLA)	Bachelor's	37	N/A	Los Angeles, California	Public	ucla.edu
Clark University	Bachelor's Master's	37	SAT: 1240-1400 ACT: 30-33	Worcester, Massachusetts	Private	clarku.edu
University of Missouri (UMKC)	Master's	37	SAT: 1150-1540 ACT: 21-29	Kansas City, Missouri	Public	umkc.edu
University of Kentucky (UK)	Bachelor's Master's	35	SAT: 1080-1290 ACT: 21-28	Lexington, Kentucky	Public	uky.edu
Villanova University	Master's	34	SAT: 1400-1510 ACT: 32-34	Villanova, Pennsylvania	Private	villanova.edu
Florida State University (FSU)	Master's	33	SAT: 1240-1390 ACT: 27-31	Tallahassee, Florida	Public	fsu.edu
University of Houston (UH)	Master's	33	SAT: 1150-1330 ACT: 23-28	Houston, Texas	Public	uh.edu
North Carolina State University (NC State)	Master's	31	SAT: 1300-1460 ACT: 28-32	Raleigh, North Carolina	Public	ncsu.edu
The University of Texas (UTSA)	Master's Doctorate (R)	31	SAT: 1000-1200 ACT: 19-26	San Antonio, Texas	Public	utsa.edu
Arizona State University Campus Immersion (ASU)	Master's	30	N/A	Tempe, Arizona	Public	asu.edu
CUNY Bernard M Baruch College	Bachelor's Master's	30	SAT: 1210-1410	New York, New York	Public	baruch.cuny.edu
William & Mary (W&M)	Master's	30	SAT: 1365-1510 ACT: 32-34	Williamsburg, Virginia	Public	wm.edu
University of Massachusetts	Master's	29	SAT: 1300-1480 ACT: 29-33	Amherst, Massachusetts	Public	umass.edu
Pepperdine University	Master's	26	SAT: 1250-1450 ACT: 26-32	Malibu, California	Private	pepperdine.edu
University of Illinois Chicago (UIC)	Master's	26	SAT: 1120-1340 ACT: 25-32	Chicago, Illinois	Public	uic.edu
University of Pennsylvania (Penn)	Master's	26	SAT: 1500-1570 ACT: 34-35	Philadelphia, Pennsylvania	Private	upenn.edu
Princeton University	Master's	25	SAT: 1500-1580 ACT: 34-35	Princeton, New Jersey	Private	princeton.edu
The University of Tampa (UTampa)	Master's	24	N/A	Tampa, Florida	Private	ut.edu
University of New Hampshire (UNH)	Master's	22	SAT: 1120-1320 ACT: 26-31	Durham, New Hampshire	Public	unh.edu
Seattle University (Seattle U)	Master's	22	SAT: 1130-1350 ACT: 23-30	Seattle, Washington	Private	seattleu.edu
Stony Brook University (SBU)	Master's	21	SAT: 1320-1490 ACT: 28-33	Stony Brook, New York	Public	stonybrook.edu
University of Massachusetts	Master's	20	SAT: 1180-1350 ACT: 26-30	Lowell, Massachusetts	Public	uml.edu
Rensselaer Polytechnic Institute (RPI)	Master's	20	SAT: 1330-1500 ACT: 30-34	Troy, New York	Private	rpi.edu
Syracuse University	Master's	20	SAT: 1260-1430 ACT: 28-32	Syracuse, New York	Private	syracuse.edu
The University of Texas	Master's	20	SAT: 990-1230 ACT: 18-26	Arlington, Texas	Public	uta.edu
University of Oregon (UO)	Master's Doctorate (R)	19	SAT: 1130-1360 ACT: 22-30	Eugene, Oregon	Public	uoregon.edu
Dallas Baptist University (DBU)	Master's	18	SAT: 960-1217 ACT: 21-27	Dallas, Texas	Private	dbu.edu
University of Illinois Springfield (UIS)	Master's	17	SAT: 1010-1210 ACT: 21-28	Springfield, Illinois	Public	uis.edu
Johns Hopkins University (JHU)	Master's	17	SAT: 1530-1580 ACT: 34-35	Baltimore, Maryland	Private	jhu.edu
Trinity University	Bachelor's	17	SAT: 1320-1465 ACT: 30-33	San Antonio, Texas	Private	new.trinity.edu
Pennsylvania State University	Postbac Cert. Master's	17	SAT: 1100-1340 ACT: 18-30	University Park, Pennsylvania	Public	worldcampus.psu.edu
Sacred Heart University (SHU)	Master's	16	N/A	Fairfield, Connecticut	Private	sacredheart.edu
University of North Carolina at Charlotte	Master's	16	SAT: 1110-1320 ACT: 21-27	Charlotte, North Carolina	Public	charlotte.edu
Saint Mary's College of California	Bachelor's Master's	14	N/A	Moraga, California	Private	stmarys-ca.edu
Fairfield University	Master's	14	SAT: 1240-1380 ACT: 29-32	Fairfield, Connecticut	Private	fairfield.edu
Embry-Riddle Aeronautical University (ERAU)	Master's	14	SAT: 1140-1350 ACT: 24-30	Daytona Beach, Florida	Private	daytonabeach.erau.edu
Seton Hall University (SHU)	Bachelor's	13	SAT: 1220-1400 ACT: 27-31	South Orange, New Jersey	Private	shu.edu
Lehigh University	Master's	12	SAT: 1350-1490 ACT: 31-33	Bethlehem, Pennsylvania	Private	lehigh.edu
Golden Gate University (GGU)	Master's	10	N/A	San Francisco, California	Private	ggu.edu
Northern State University (NSU)	Master's	10	ACT: 18-24	Aberdeen, South Dakota	Public	northern.edu
The University of Texas Permian Basin	Master's	10	SAT: 910-1110 ACT: 16-20	Odessa, Texas	Public	utpb.edu
West Virginia University (WVU)	Master's	10	SAT: 1010-1240 ACT: 20-26	Morgantown, West Virginia	Public	wvu.edu
Northern Illinois University (NIU)	Master's	9	N/A	Dekalb, Illinois	Public	niu.edu
Kent State University	Bachelor's	9	SAT: 1000-1230 ACT: 18-25	Kent, Ohio	Public	kent.edu
Temple University	Master's	9	N/A	Philadelphia, Pennsylvania	Public	temple.edu
Pennsylvania State University	Master's	8	N/A	Malvern, Pennsylvania	Public	greatvalley.psu.edu
Wayne State University (WSU)	Bachelor's	7	SAT: 1040-1260 ACT: 21-28	Detroit, Michigan	Public	wayne.edu
University of St Thomas	Master's	7	SAT: 1075-1340 ACT: 22-28	Houston, Texas	Private	stthom.edu
University of the Pacific (UOP)	Master's	6	SAT: 1160-1420 ACT: 23-31	Stockton, California	Private	pacific.edu
Rochester Institute of Technology (RIT)	Master's	6	SAT: 1280-1460 ACT: 29-33	Rochester, New York	Private	rit.edu
Oklahoma State University (OSU)	Master's	6	SAT: 1030-1240 ACT: 20-27	Stillwater, Oklahoma	Public	okstate.edu
Claremont Graduate University (CGU)	Master's	5	N/A	Claremont, California	Private	cgu.edu
University of Dallas (UD)	Master's	5	SAT: 1170-1370 ACT: 25-32	Irving, Texas	Private	udallas.edu

Frequently Asked Questions

Find answers to the most common questions about Financial Mathematics programs

How much can I earn with a Financial Mathematics degree?

Salaries for Financial Mathematics graduates vary by role and location. Natural Sciences Managers earn a median of $161,180 annually, while Mathematicians earn around $121,680. Geographic location significantly impacts earnings—professionals in California average $133,303 compared to $67,772 in Louisiana. Approximately 930,240 professionals work in related occupations nationwide.

Salary data from U.S. Bureau of Labor Statistics OEWS program, May 2024. Earnings vary by experience, employer, and market conditions.

Which universities have the largest Financial Mathematics programs?

Currently 118 accredited institutions offer Financial Mathematics degrees across the U.S. Programs with the highest enrollment include Fordham University (269 graduates), Washington University in St Louis (WashU) (231 graduates), and University of Southern California (USC) (174 graduates).

Program size doesn't necessarily indicate quality—consider factors like faculty expertise, production opportunities, location, and available degree levels when choosing a school.

Data based on IPEDS program completions for 2023-2024 academic year. Numbers reflect programs where students graduated.

Is enrollment in Financial Mathematics growing or declining?

Graduate numbers have increased over the past decade, rising from 351 in 2010 to 5,335 in 2023-24. This represents a 1,420% increase overall from 2010.

The field remains specialized with steady interest, though opportunities are most concentrated in major metropolitan areas with active arts scenes like New York, California, and Illinois.

Graduate enrollment data from IPEDS, 2010-2024 academic years. Trends reflect reported completions at participating institutions.

What career paths are available with a Financial Mathematics degree?

This degree prepares you for roles such as Natural Sciences Managers, Mathematicians, and Economists. Related occupations employ approximately 930,240 professionals nationwide.

Skills in project management, creative leadership, and collaboration also transfer to event planning, arts administration, marketing, and corporate training roles. Many professionals work freelance or on a project basis across theatre, film, and live events.

Career pathways mapped using CIP-SOC crosswalk from the National Center for Education Statistics. Employment data from BLS OEWS May 2024.

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