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CIP 27.0305 Mathematics and Statistics

Financial Mathematics

IPEDS Completions, US Department of Education · 2025

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Total graduates

5,699

2025 · 125 schools

International share

54.9%

3,131 international students

Bachelor's degrees

769

13.3% international

Master's degrees

4,905

61.4% international

Overview

Financial Mathematics is a vital interdisciplinary field that merges mathematical techniques with financial theory to analyze and solve complex financial problems. This discipline primarily focuses on the development and application of quantitative methods to model financial markets, assess risks, and optimize investment strategies.

Students in Financial Mathematics programs typically study a range of subjects, including calculus, linear algebra, probability theory, statistics, and stochastic processes. They also delve into specific financial topics such as derivatives pricing, portfolio optimization, and risk management. The integration of these mathematical principles with real-world financial applications equips graduates with the skills needed to tackle challenges in various sectors, including banking, investment, insurance, and corporate finance.

Career opportunities for Financial Mathematics graduates are robust and diverse. They may work as quantitative analysts, risk managers, financial engineers, or investment analysts, often within financial institutions, hedge funds, or insurance companies. The demand for professionals skilled in quantitative analysis continues to grow, particularly as financial markets become increasingly complex and data-driven.

Moreover, the field plays a crucial role in the development of financial products and the assessment of market behavior. With the rise of big data and advanced computational techniques, Financial Mathematics is evolving rapidly, offering exciting prospects for innovation and research. Overall, this discipline not only provides a strong foundation in mathematics but also fosters critical thinking and problem-solving skills essential for success in the financial industry.

Graduates by year

Graduates by degree level (first and second majors)

AssociateBachelor'sMaster'sDoctoral

From 2010 to 2025, graduates grew 1,533% and the international share went from 75.6% to 54.9%.

International share (%)
Graduates by group, 2025
White
25.7%
Asian
7.1%
Hispanic
5.2%
Black
1.8%
Other
5.2%
Intl.
54.9%

Colleges that award this degree

In 2025, 125 schools awarded this degree as a first major. The table lists those in the 2027 U.S. News National or Liberal Arts rankings, plus the unranked schools with the most graduates.

RankSchoolStateGraduatesInternational
#1 Massachusetts Institute of Technology Massachusetts 137 104
#2 Princeton University New Jersey 37 32
#4 Yale University Connecticut 71 56
#7 University of Pennsylvania Pennsylvania 19 10
#9 University of Chicago Illinois 151 114
#9 Johns Hopkins University Maryland 24 7
#14 Carnegie Mellon University Pennsylvania 109 88
#16 Washington University in St Louis Missouri 269 267
#16 Vanderbilt University Tennessee 84 11
#20 University of California-Berkeley California 83 69
#20 University of California-Los Angeles California 43 17
#20 University of Notre Dame Indiana 94 25
#26 University of Virginia-Main Campus Virginia 38 14
#27 University of Southern California California 190 123
#29 University of California-San Diego California 144 140
#29 Georgia Institute of Technology-Main Campus Georgia 87 69
#31 Boston College Massachusetts 65 58
#31 New York University New York 36 29
#34 University of California-Irvine California 112 78
#34 University of Illinois at Urbana-Champaign Illinois 181 174
#34 Boston University Massachusetts 101 95
#34 The University of Texas at Austin Texas 121 27
#42 Northeastern University Massachusetts 164 155
#42 Villanova University Pennsylvania 35 4
#44 Ohio State University-Main Campus Ohio 90 22
#44 Lehigh University Pennsylvania 15 10
#49 University of Maryland-College Park Maryland 15 11
#52 College of William and Mary Virginia 90 10
#55 University of Miami Florida 96 48
#55 The Pennsylvania State University Pennsylvania 42 17
#55 Purdue University-Main Campus Indiana 11 6
#59 George Washington University D.C. 51 41
#59 Florida State University Florida 49 5
#59 Tulane University of Louisiana Louisiana 18 10
#59 Brandeis University Massachusetts 46 44
#59 University of Massachusetts-Amherst Massachusetts 39 13
#59 University of Minnesota-Twin Cities Minnesota 91 40
#59 Stevens Institute of Technology New Jersey 124 39
#59 Stony Brook University New York 10 1
#59 Texas A & M University-College Station Texas 8 2
#69 Rensselaer Polytechnic Institute New York 14 6
#72 Syracuse University New York 8 3
#73 University of Connecticut Connecticut 70 29
#73 Indiana University-Bloomington Indiana 74 24
#73 North Carolina State University at Raleigh North Carolina 31 28
#80 Pepperdine University California 27 19
#85 Fordham University New York 299 38
#85 University at Buffalo New York 77 48
#85 Southern Methodist University Texas 65 17
#90 Marquette University Wisconsin 5 0
#95 University of Illinois at Chicago Illinois 28 21
#95 Rochester Institute of Technology New York 3 2
#100 University of San Diego California 35 10
#100 University of Iowa Iowa 47 11
#109 Fairfield University Connecticut 12 5
#109 University of New Hampshire-Main Campus New Hampshire 13 9
#109 Temple University Pennsylvania 6 5
#116 University of Oregon Oregon 23 5
#121 Arizona State University-Tempe Arizona 77 55
#121 University of Arizona Arizona 25 5
#121 University of the Pacific California 16 13
#121 The University of Texas at Dallas Texas 126 94
#121 George Mason University Virginia 19 3
#133 Clark University Massachusetts 43 31
#137 St John's University (NY) New York 2 0
#137 University of Houston Texas 45 15
#137 James Madison University Virginia 6 0
#148 University of Kentucky Kentucky 56 20
#148 University of Massachusetts-Lowell Massachusetts 24 1
#156 Seton Hall University New Jersey 8 0
#156 Duquesne University Pennsylvania 85 5
#169 DePaul University Illinois 68 37
#169 Simmons University Massachusetts 1 0
#169 University of North Carolina at Charlotte North Carolina 19 13
#179 University of Cincinnati-Main Campus Ohio 57 18
#179 University of Utah Utah 117 43
#179 Seattle University Washington 21 12
#186 University of Hawaii at Manoa Hawaii 15 3
#186 Wayne State University Michigan 4 0
#191 Georgia State University Georgia 48 36
#191 Hofstra University New York 4 0
#191 Oklahoma State University-Main Campus Oklahoma 9 8
#202 Sacred Heart University Connecticut 13 10
#202 University of St. Thomas (TX) Texas 12 3
#208 University of North Texas Texas 33 28
#227 University of Texas-San Antonio Texas 27 7
#236 Kent State University at Kent Ohio 11 2
#236 Portland State University Oregon 24 10
#236 University of Texas-Arlington Texas 25 21
#250 University of Missouri--Kansas City Missouri 35 22
#276 University of New Haven Connecticut 85 57
#276 University of Missouri--St. Louis Missouri 4 1
#288 Texas State University Texas 14 6
#308 Northern Illinois University Illinois 19 4
#353 University of Houston--Clear Lake Texas 5 2
#376 University of Bridgeport Connecticut 1 0
#382 Dallas Baptist University Texas 17 9
#382 East Texas A&M University Texas 48 1
LAC #38 Trinity University Texas 9 0
LAC #44 Wabash College Indiana 7 1
LAC #100 Lycoming College Pennsylvania 1 0
LAC #111 Saint Vincent College Pennsylvania 1 0
— Babson College Massachusetts 88 61
— Golden Gate University California 63 12
— CUNY Bernard M Baruch College New York 43 26
— Bentley University Massachusetts 32 24
— The University of Tampa Florida 19 11
— University of Illinois Springfield Illinois 19 2
— The University of Texas Permian Basin Texas 15 5
— Saint Mary's College of California California 14 0
— Embry-Riddle Aeronautical University-Daytona Beach Florida 12 7
— Pennsylvania State University-World Campus Pennsylvania 10 0
— Northern State University South Dakota 8 0
— Canisius University New York 6 4
— Claremont Graduate University California 3 0
— Concordia College at Moorhead Minnesota 3 0
— CUNY Brooklyn College New York 3 0
— University of Central Oklahoma Oklahoma 3 2
— University of Dallas Texas 3 2
— Asbury University Kentucky 1 0
— Keuka College New York 1 0
— Catawba College North Carolina 1 0
— Southern Oregon University Oregon 1 0
— Pennsylvania State University-Penn State Great Valley Pennsylvania 1 0
— University of the West California 1 1

Purple: international students are 25% or more of the school's graduates.

Related jobs and pay

OccupationUS employmentMean hourly wageMean annual wage
Financial and Investment Analysts 361,980 $56.15 $116,800
Data Scientists 262,440 $60.96 $126,800
Financial Specialists, All Other 132,130 $45.10 $93,810
Natural Sciences Managers 108,690 $86.66 $180,250
Financial Risk Specialists 63,850 $59.82 $124,420
Mathematical Science Teachers, Postsecondary 47,670 — $91,550
Economists 17,790 $68.33 $142,130
Mathematical Science Occupations, All Other 3,720 $44.02 $91,550
Mathematicians 2,030 $62.15 $129,260

Source: Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025.

Graduate counts: IPEDS Completions, US Department of Education, 2010–2025. Rankings: 2027 U.S. News.