Master of Mathematical Finance and Actuarial Science at Technical University of Munich

Technical University of Munich

Germany, Munich

University Rank:#22

Technical University of Munich offers the Master of Mathematical Finance and Actuarial Science as a full-time degree delivered on campus at its Garching campus in Munich, Germany. Taught in English and completed over 4 years, the program equips students with the theoretical knowledge and practical skills required for mathematical finance and actuarial science and related professional fields. The next available intake begins on October 1, 2026.

About Master of Mathematical Finance and Actuarial Science

The Mathematical Finance and Actuarial Science master's program is tailored to students who are interested in a demanding vocational education and training where finance and actuarial science are concerned.

In addition to the foundational subject of stochastic analysis, the specialties of mathematical finance and actuarial science are therefore of central importance. Students select one of the two specialties but always acquire knowledge of the other as well. The content is complemented by courses in economics and cross-disciplinary topics.

For a comprehensive description of the program, please refer to the degree program documentation:

Degree program documentation for the master's program in Mathematical Finance and Actuarial Finance (PDF, German)

The Mathematical Finance and Actuarial Science master's program provides a demanding vocational education and training in finance and actuarial science.

Requirements and Admission Criteria for Master of Mathematical Finance and Actuarial Science at Technical University of Munich

Entry Requirements

In terms of applying to TUM, international refers to the country where you have completed your secondary school or your undergraduate studies. It does not refer to your country of origin or the place you live.

when applying to a bachelor's degree program: You have completed your secondary school education outside of Germany with something other than a German Abitur.when applying to a master's degree program: You have completed your undergraduate studes (i.e. your bachelor's) outside of the EU, EEA or Switzerland.

To qualify for a master's degree program, you need a first academic degree, e.g. a bachelor's. The exact requirements for every degree program are stated in the Academic and Examination Regulations.

Regardless of the program you are interested in, you need an undergraduate degree which is at least equal to a German bachelor's degree with a duration of 3 years (6 semester) to be eligible to apply for a master's program.

You can look up your degree in the anabin database (available in German only) to get a first orientation whether you are generally qualified for a master's degree program in Germany.

English Requirements

PTEMin 65
IELTSMin 6.5
TOEFLMin 88

English Program Requirements

All degree programs at TUM Informatics require proof of proficiency in German, English, or both.

Check TUM’s central admissions website for information on accepted language proficiency certificates here.

Please remember that you often will need to sign up for language tests several months in advance.

Should you have no knowledge in German at all, you should plan to devote approximately 9 to 12 months to intensive courses in order to reach the required level. You must be able to prove proficiency in the relevant language for your program in order to be admitted.

For Master's applications at the department of Informatics: if the language of instruction of your Bachelor's degree was English (100%), this can be accepted as English language proof for the Master's application.
A Bachelor's thesis written in English can also be accepted as English proof. In this case a document from your university (

Career Opportunities after Completing Master of Mathematical Finance and Actuarial Science

As a graduate of the Mathematical Finance and Actuarial Science master's program you are ideally prepared for an occupation in financial markets or insurance. Professional opportunities arise inter alia in areas where mathematical finance expertise is in demand such as risk management or portfolio theory as well as in actuarial science. Further options include working as an auditor tax advisor or financial controller.

Tuition and Fee Information for Master of Mathematical Finance and Actuarial Science at Technical University of Munich

Master of Mathematical Finance and Actuarial Science at Technical University of Munich

Technical University of Munich

Germany, Munich