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