Program details
English
Language of Instruction
Oct
Available Intake(s)
The Master's in Finance programme at Ulm University is both quantitative and practical. It offers students the choice between three specialisations: Actuarial Science, Financial Economics and Financial Mathematics. The specialisation in Actuarial Science is the right choice for you if you are interested in studies with a focus on actuarial science and methods applied in the insurance industry. Ulm University is one of the world’s leading institutions in this field. You can also take the entrance examinations of the German Association of Actuaries (DAV) during your studies at Ulm University. The specialisation in Financial Economics focuses on understanding and predicting stock returns, on measuring credit and market risk, and it makes you familiar with financial institutions and markets. The specialisation provides a lot of flexibility. Instead of taking high-level mathematics courses, you can take econometrics or machine learning courses. You can also take courses in actuarial science. The specialisation in Financial Mathematics is the right choice for students who have a strong interest in mathematics and want to become experts in the mathematical and stochastic concepts widely used in the financial industry. You will learn to model financial processes and to use your knowledge for evaluating complex financial products.
A GCQ360 counsellor can help you with eligibility, documents, and your application timeline.
The programme is spread over four semester (two years), with three semesters of course work and one semester to write the Master‘s thesis. After the first semester, students can decide whether to specialise in Actuarial Science, Financial Economics or Financial Mathematics. Broadly, there are four types of courses: Core courses: A small number of core courses will introduce you to the most important concepts. Whether they are compulsory or not depends on the chosen specialisation. These courses also help students without any finance background to get started. Practical courses and seminars: In practical courses, you will gain experience in implementing modern financial techniques. In seminars, you will write and present papers and thereby prepare for the Master’s thesis. Optional modules (electives): The curriculum offers a large number of courses from which you can choose from. They range from courses that deepen your knowledge of concepts and methods to courses that focus on specific topics in a field. The majority of the electives will be in your chosen area of specialisation. Language or soft skill courses: Most students who come from abroad choose to take German language courses. German courses are offered for all language levels, starting from absolute beginners. PDF Download | International guest lecturers Language training provided Integrated/optional study abroad unit(s) | No internships are required. However, students can do internships during the semester breaks, and they also can take academic leave to do three-to-six-month internships. | German language courses: Yes | English language courses: No
As of Sep 7, 2026, verify on the university’s site.
The following is valid for applicants from: all countries For the winter semester: 1 February - 15 March | Please find more details on this website.
• uni-assist • Website
No minimum language level required
Looking for living expenses, accommodation, scholarships, placements, or campus facilities? See the university page.
The semester contribution is 182 EUR per semester. For further details, visit the Office of the Registrar website: https://www.uni-ulm.de/en/study/organisation/tuition-fees/.
Yes | Students who perform well academically and/or participate in community service are eligible to apply for scholarships such as the "Deutschlandstipendium". Read more.
Most international students stay in the university's student halls of residence, which have single rooms, a shared kitchen, a bathroom and modern facilities. Rental rates vary between 285 EUR and 477 EUR per month. If desired, student accommodation in halls of residence can be arranged by the Institute of Finance. Private accommodation must be arranged by the students themselves.
The cost of living in Ulm is estimated to be around 945 EUR to 1,000 EUR per month. For more information on the costs students in Ulm can expect, see the following website: https://www.uni-ulm.de/en/io/degree-phd/welcome/finances/living-expenses/.
Tuition fees may vary depending on several factors. For an exact breakdown of costs, please check the programme website.
No minimum language level required
The following tuition fees apply for applicants from: non-EU countries 1,500 EUR
Refugees
Please find details on the course website.
Please find more details on this website.
Yes
Students have the possibility to study one or two semesters abroad.
Student assistant jobs are regularly offered by institutes in all faculties as well as in the central administration. Student assistants help with the preparation and execution of tutorials, work on research projects, or help with administrative tasks. Furthermore, several companies with strong ties to the university are located on campus (e.g. Mercedes-Benz Group AG, Continental, BMW Car IT, Sartorius, and more) and offer the possibility of student jobs. Read more.
Welcome event Buddy programme Cultural and linguistic preparation Visa matters Pick-up service
The Career Service at Ulm University serves as a valuable resource for students, offering assistance in career exploration, skill development, and a successful transition from academia to the professional world. The Graduate & Professional Training Centre Ulm ("ProTrainU") focuses on supporting doctoral students and other young researchers in their careers and professional development. The Entrepreneurs' Campus at Ulm University offers opportunities for creative academics who want to develop their ideas into products or business models.
Assistance is provided to help students with the visa application process and in making arrangements for accommodations. Additionally, guidance is offered in all administrative matters (bank account, enrolment, health insurance, registration and residence permit). Furthermore, joint social events are offered by the International Office as well as by the institute (excursions, sport events, etc.).
This university has not published its own document list, so this is what a student going to Germany is generally asked for. Confirm the exact list with the university.
Bucerius Law School
Funding
Merit- and need-based awards toward the EUR 25,000 tuition fee
Applicants to the Master of Law and Business (LLM/MLB) programme; early-bird and scholarship deadline is January 15 for the September intake
National Merit Foundation
Funding
Full tuition waiver
For students admitted to an accredited university program, based on financial need and merit.
Il servizio di scambio accademico tedesco (DAAD)
Funding
EUR Research Stays, Scholarships, and Master's Programs
Students from pontifical universities.
Master of Science in Finance is a Master program in Business Mathematics offered by Ulm University in Ulm, Germany.
Tuition fees for this program can vary by intake and are best confirmed with a GCQ360 counsellor.
Minimum qualification required: Applicants for this programme must have completed a Bachelor's degree (or an equivalent thereof) in mathematics or in another quantitative and mathematically-oriented discipline from a recognised university. Applicants with a degree in physics, engineering or computer science are usually eligible. A degree in economics can be sufficient, provided that you have successfully taken a significant number of courses in mathematics and statistics. A degree in business, commerce or accounting is usually not sufficient for admission because typical programmes in these fields do not contain the amount of training in mathematics and statistics that is required for the MSc Finance. The courses in financial mathematics and mathematics are on the level of mathematics programmes. Applicants should thus have a genuine interest in mathematics. If you are in doubt as to whether you meet the requirements, you can send us an e-mail with your transcript of records for a preliminary check..
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A minimum TOEFL score of 72.0 is required for this program.
No, this program does not require a GRE or GMAT score for admission.
Available intakes include: .
This specific program does not list a dedicated scholarship, but GCQ360 can help you explore other funding and scholarship options at Ulm University.
This program is offered in Full-time mode, taught in English at the Ulm campus.
This program has no minimum work experience requirement. No thesis is required to graduate.
Yes -- a GCQ360 counsellor can guide you through eligibility checks, documentation, and the application process for Master of Science in Finance at Ulm University, Ulm, Germany.
