Msc Applied Statistics in Finance from University of Strathclyde
Overview - MSc Applied Statistics in Finance at the University of Strathclyde
The MSc Applied Statistics in Finance program at the University of Strathclyde equips students with essential quantitative skills and financial knowledge for the finance industry. As the need for experts who can analyze and interpret financial data grows, this course combines theory and practical experience to prepare graduates for successful careers in finance.
Key Information
- Duration: 12 months full-time
- Start Date: September
- Location: University of Strathclyde, Glasgow, Scotland
- Degree: MSc Applied Statistics in Finance
- Mode of Study: On-campus
Program Structure
The MSc Applied Statistics in Finance program offers a comprehensive curriculum that combines core modules, elective modules, and a final dissertation project. The structure is designed to ensure a deep understanding of statistical methods and their application in finance.
Core Modules
- Financial Statistics: Statistical techniques for financial data analysis.
- Time Series Analysis: Methods for analyzing time-dependent data.
- Statistical Inference: The principles and methods of making inferences from data.
- Econometrics: Techniques for quantitative economic modeling.
- Risk Management: Strategies for identifying and managing financial risks.
- Portfolio Theory: Theoretical and practical aspects of portfolio management.
Elective Modules
- Stochastic Processes: Advanced methods in probability and stochastic modeling.
- Financial Derivatives: Valuation and risk management of derivative securities.
- Actuarial Science: Principles of actuarial modeling and applications in finance.
- Big Data Analytics: Techniques for analyzing large and complex datasets.
Admission Requirements
To be eligible for the MSc Applied Statistics in Finance program, applicants must meet the following requirements:
- Educational Background: A first or upper-second-class Honours degree in mathematics, statistics, economics, finance, or a related discipline.
- English Language Proficiency: Non-native English speakers must provide proof of proficiency. Accepted tests include IELTS (minimum score of 6.5) or TOEFL (minimum score of 90).
Relevant Experience: While not mandatory, relevant work experience in finance or statistics can be beneficial.
Fees & Fundings
Tuition Fees
Category | Annual Fee |
International Students | £18,000 |
UK and EU Students | £9,000 |
Living Costs
Estimated living costs in Glasgow are approximately £12,000 per year, covering accommodation, food, and other expenses.
Scholarships
The University of Strathclyde offers a range of scholarships to support students:
- Strathclyde Excellence Scholarships: Awarded based on academic merit, these scholarships can significantly reduce tuition fees.
- Commonwealth Scholarships: Available for students from Commonwealth countries.
- Industry-Sponsored Scholarships: Partnered with leading financial firms, these scholarships provide financial support and potential internship opportunities.
For more detailed information on all available scholarships, eligibility criteria, and how to apply, book a free call with our alumni mentors. This ensures you have the most up-to-date information and can access all the necessary information and guidance.
Visa Information
International students must obtain a Tier 4 (General) student visa to study in the UK. The University of Strathclyde provides guidance and support throughout the visa application process. Key requirements for the visa include:
- Confirmation of Acceptance for Studies (CAS): Issued by the university upon acceptance.
- Financial Proof: Evidence that you have sufficient funds to cover tuition fees and living costs.
- English Language Proficiency: Proof of meeting the English language requirements.
Work Permit
International students on a Tier 4 visa are allowed to work up to 20 hours per week during term time and full-time during holidays. This provides an excellent opportunity to gain work experience and supplement your income while studying.
Career and Job Prospects
Graduates of the MSc Applied Statistics in Finance program are well-prepared for a wide range of roles within the finance industry. Here are some potential career paths along with their respective average starting salaries:
- Financial Analyst: Financial analysts examine financial data and trends to provide investment recommendations. They play a key role in helping businesses and individuals make informed financial decisions.
- Average Starting Salary: £35,000 – £45,000 per year
- Average Starting Salary: £35,000 – £45,000 per year
- Risk Analyst: Risk analysts identify potential financial risks for organizations and develop strategies to manage and mitigate these risks. Their work is crucial in safeguarding an organization’s financial health.
- Average Starting Salary: £40,000 – £50,000 per year
- Average Starting Salary: £40,000 – £50,000 per year
- Quantitative Analyst: Quantitative analysts, also known as “quants,” use mathematical models to solve complex financial and risk management problems. They are essential in developing trading strategies and managing investment portfolios.
- Average Starting Salary: £45,000 – £55,000 per year
- Average Starting Salary: £45,000 – £55,000 per year
- Data Scientist: Data scientists apply statistical methods to analyze large datasets and extract meaningful insights. In the finance industry, their work helps drive data-driven decision-making and strategic planning.
- Average Starting Salary: £40,000 – £50,000 per year
- Average Starting Salary: £40,000 – £50,000 per year
- Actuary: Actuaries use mathematics, statistics, and financial theory to evaluate financial risks. They often work in insurance, pensions, and other financial services to predict and manage future financial scenarios.
- Average Starting Salary: £35,000 – £45,000 per year
- Average Starting Salary: £35,000 – £45,000 per year
- Portfolio Manager: Portfolio managers oversee investment portfolios, aiming to achieve financial goals for clients or organizations. They make decisions on asset allocation, investment strategies, and risk management.
Average Starting Salary: £50,000 – £60,000 per year
Average Salary
Graduates from the MSc Applied Statistics in Finance program can expect competitive salaries in the finance sector. Starting salaries typically range from £35,000 to £50,000 per year, depending on the specific role and geographic location. With experience and career advancement, salaries can increase significantly, reflecting the high demand for skilled professionals in this field.
Conclusion
The MSc Applied Statistics in Finance program at the University of Strathclyde is an excellent choice for those looking to advance their careers in finance. With a comprehensive curriculum, state-of-the-art facilities, and strong industry connections, graduates are well-prepared to meet the demands of the finance industry. For more information and to apply, visit the University of Strathclyde’s official website.
Success Stories
"ScotsGrad provided all the valuable resources for my master's program.ScotsGrad is the one stop solution for your study abroad queries and you know it's completely free of cost for the services. You should definitely check their website. Highly recommend."
Prasanth E
Student in UK From India
"ScotsGrad came to me like a lifeline. I was lost with all the process to study abroad after consulting numerous consultants but they ensure I found my way. From day 1 they have always been helpful and ensure my smooth journey to get into Stirling University."
Sooraj SasiKumar
Stirling University UK
" Exceptional team, and their down-to-earth approach made the entire experience enjoyable and stress-free. I am incredibly grateful for their support, and I highly recommend them to anyone considering studying abroad. 5-star service and dedication."
Ashik Vadakkan
Student In UK From IndiaFAQs
The program is a full-time course which typically lasts for one year.
Applicants are required to have a good undergraduate degree in a relevant discipline, along with a strong background in mathematics and statistics.
Yes, the program is open to international students who meet the academic requirements and English language proficiency criteria.
Â
The University of Strathclyde offers a range of scholarships and funding options for eligible students. Applicants are encouraged to explore these opportunities on the university’s website.
Graduates of the program can pursue careers in various sectors such as banking, finance, insurance, consulting, and more. The strong foundation in applied statistics and finance equips students with the skills needed for roles in data analysis, risk management, financial modeling, and more.