Quantitative Finance, full-time, second cycle

Field of Study: Social Sciences

Academic Discipline: Leading discipline – Economics and Finance

Language of Instruction: English

Professional Title Awarded Upon Graduation: Master in Quantitative Finance

Where and When You Will Have Classes

Location:
Major-related classes are held at the Faculty of Economic Sciences, University of Warsaw, located at 44/50 Długa Street, Warsaw.

Time:
Classes take place from Monday to Friday during the day, between 08AM and 8PM , with the possibility of attending classes in the afternoon. Exact times depend on the study group you are assigned to.

Studies that change your perspective – Study at the Faculty of Economic Sciences, University of Warsaw

Choose the Faculty of Economic Sciences at the University of Warsaw – a leader in economic education in Poland and one of the top research institutions in Europe.

• Top 3% in Europe – We rank among the top institutions in Europe according to the prestigious RePEc ranking.
• Excellence in Teaching – We are the only institution in Poland to hold three Certificates of Excellence in Education awarded by the Polish Accreditation Committee – covering all our degree programs.
• According to the 2024 Perspektywy ranking, we offer the best programs in Poland in Economics and Computer Science and Econometrics (now Econometrics and Data Science), while Finance and Accounting rank second nationwide.
• After graduation? Our graduates are #1 in Poland in terms of average salary in the first year after earning their degree – confirmed by a ranking by the Rzeczpospolita daily based on real labor market data.

General Information

Quantitative Finance – Shape the Future of Financial Markets with Data and Precision

Ranked 2nd in Central and Eastern Europe in Financial Markets category – Eduniversal Best Masters Ranking 2024

Study Quantitative Finance at the University of Warsaw – Where Theory Meets Cutting-Edge Practice

The two-year Master’s program in Quantitative Finance (taught entirely in English) equips students with the skills, tools, and mindset required to thrive in the complex world of modern finance.

Combining advanced financial theory, quantitative modeling , and real-world insights from financial institutions, the program prepares you for a successful career in:

• Banks and investment firms
• Risk and asset management companies
• Regulatory bodies and supervisory authorities
• Fintech startups and quantitative trading desks
• Academia and financial research centers

What Will You Learn?

You will gain deep theoretical knowledge and hands-on practical skills that allow you to:

• Model and price complex financial instruments, including exotic derivatives
• Quantify and manage risk in dynamic market environments
• Develop and implement portfolio strategies using real-time data
• Build and validate financial models with tools like C++, R, Python, and MATLAB
• Design trading algorithms and decision systems using high-frequency data
• Analyze financial statements and corporate finance fundamentals
• Apply empirical research and the latest findings in financial science

You’ll study topics such as:

• Derivatives Markets, Option Pricing Theory
• Equity & Fixed Income Instruments
• Computational Finance
• Corporate Finance & Risk Analysis
• Advanced Micro- and Macroeconomics
• Time Series Analysis & Quantitative Strategies
• Financial Econometrics & Mathematical Methods in Finance
• Theory of Finance & Market Architecture

Designed for Future Financial Engineers and Strategists

The program is tailored for students who want to make data-driven decisions, develop innovative investment strategies, and solve real-world financial challenges using mathematics, statistics, and programming .

Throughout your studies, you will:

• Master portfolio theory and stochastic calculus
• Quantify return volatility, co-movement, and risk using real-time data
• Use machine learning and quantitative models for asset allocation
• Simulate and optimize trading systems
• Understand regulatory frameworks and ethical standards in global finance
• Prepare for professional certifications like CFA, Investment Adviser, or Stockbroker license

International Outlook. Global Career.

With a strong emphasis on global financial trends and international case studies, the program opens doors to careers in Poland and abroad. Students graduate ready to enter highly competitive roles in:

• Risk Management
• Financial Engineering
• Asset Management
• Algorithmic Trading
• Investment Analysis
• Financial Forecasting
• Derivatives Pricing
• Financial Consulting
• Economic Research

Graduates are also well-prepared for doctoral studies in finance at top universities worldwide.

A Unique Advantage for Quant-Minded Talent

Graduates of the Quantitative Finance program are highly sought after in the job market. Their ability to combine financial intuition with analytical rigor and programming skills gives them a distinct edge in:

• Financial modeling and valuation
• Investment strategy development
• Advanced data analysis and forecasting
• Regulatory and ethical compliance
• Effective communication in English in technical and business contexts

Tuition applies to all students; current fees are available here.

Top-performing students may be eligible for tuition discounts. More information is available on the website.

Admission rules for candidates with Polish diplomas

The maximum number of points to be scored is 100. Minimum number of points required to be qualified is 30.

1. Candidates must hold a bachelor's, engineer's, master's or equivalent diploma in any field of study.

2. Candidates' points are calculated according to the following formula

Su x Ś x W+REL

Where:

· (Su) is the coefficient for having the status of a 'research university' (the Ministry of Science and Higher Education's 'Excellence Initiative - Research University' competition) by the degree-awarding institution in the year of UW enrollment. Having the status of a research university - a factor of 10, lack of this status - a factor of 9.

· (Ś) is the final grade from study. Final grade expressed on a scale other than the one used at the University of Warsaw (2-5), will be assimilated to it.

· (W) is a factor of:

o 1.8 - in case one of the following conditions is met:

- The candidate's program of study included AT LEAST 90 hours of microeconomics and 90 hours of macroeconomics, and 60 hours of econometrics, and 60 hours of finance;

- The candidate's program of study included AT LEAST 150 hours of mathematical analysis and at least 60 hours of physics, or 60 hours of chemistry, or 60 hours of computer science, or 60 hours of finance;

- The candidate's program of study included AT LEAST 150 hours of mathematical analysis and 60 hours of mathematical statistics;

- The candidate's program of study included AT LEAST 180 total hours in programming subjects such as: Programming in R, Python, SAS, C++, C#, Java and others.

o 1 - in other cases, when none of the above criteria are met.

· (REL) to Research Experience Letter (optional) - additional 10 points.

Research Experience Letter is a document providing a description of experience, related to the field of study for which the Candidate is applying, confirmed by project supervisors. Projects, carried out as part of studies, student activities, scientific research work and professional experience will be taken into account.

Essential Elements of a Research Experience Letter:

- Description of the projects and the nature of the candidate's participation in the projects

- Data and supervisor function of each project

- Confirmation by the project supervisor(s) with the signature / stamp of the data contained

The total points for the Research Experience Letter consist of:

- Value of the candidate's achievements (4 points);

- Connection of projects with the scope of studies for which the candidate is applying (4 points);

- Relationship between the recommender and the candidate's educational / professional career (2 points)

3. Candidates independently fill out the application form, made available on their personal registration account in the IRK system, in which they attach scans of documents necessary for the calculation of enrollment points and indicate selected subjects affecting the value of the W factor, described in section 2, for evaluation by the admissions committee.

Subjects other than those indicated by candidates are not considered by the selection committee. On the basis of the completed application form, the committee decides whether the candidate meets the criteria for consideration of the higher factor (W).

Candidates are required to submit syllabuses of selected subjects, and the committee in its evaluation may take into account the compatibility of economic and mathematical subjects with the program at the UW.

Optionally, candidates also include a scan of the Research Experience Letter.

4. Check the competence of candidates to study in English

Candidates are required to present a document recognized by the University of Warsaw certifying their knowledge of English at a level of at least B2.

Information on documents certifying knowledge of the English language. >> Check! <<

Admission rules for candidates with foreign diplomas

The maximum number of points to be scored is 100. Minimum number of points required to be qualified is 30.

1. Candidates must hold a bachelor's, engineer's, master's or equivalent diploma in any field of study.

2. Candidates' points are calculated according to the following formula

Su x Ś x W+REL

Where:

· (Su) is the coefficient for the university's position in the Shanghai Ranking in the year of UW university enrollment. Position 1-500 - a factor of 10, further positions or no university on the ranking list - a factor of 9.

· (Ś) is the final grade from study. Final grade expressed on a scale other than the one used at the University of Warsaw (2-5), will be assimilated to it.

· (W) is a factor of:

o 1.8 - in the event that one of the following conditions is met:

- The candidate's program of study included AT LEAST 90 hours of microeconomics and 90 hours of macroeconomics, and 60 hours of econometrics, and 60 hours of finance;

- The candidate's program of study included AT LEAST 150 hours of mathematical analysis and at least 60 hours of physics, or 60 hours of chemistry, or 60 hours of computer science, or 60 hours of finance;

- The candidate's program of study included AT LEAST 150 hours of mathematical analysis and 60 hours of mathematical statistics;

- The candidate's program of study included AT LEAST 180 total hours in programming subjects such as: Programming in R, Python, SAS, C++, C#, Java and others.

o 1 - in other cases, when none of the above criteria are met.

· (REL) to Research Experience Letter - (optional) additional 10 points.

Research Experience Letter is a document providing a description of experience, related to the field of study for which the Candidate is applying, confirmed by project supervisors. Projects, carried out as part of studies, student activities, scientific research work and professional experience will be taken into account.

Essential Elements of a Research Experience Letter:

- Description of the projects and the nature of the candidate's participation in the projects

- Data and supervisor function of each project

- Confirmation by the project supervisor(s) with the signature / stamp of the data contained

The total points for the Research Experience Letter consist of:

- Value of the candidate's achievements (4 points);

- Connection of projects with the scope of studies for which the candidate is applying (4 points);

- Relationship between the recommender and the candidate's educational / professional career (2 points)

3. Candidates independently fill out the application form, made available on their personal registration account in the IRK system, in which they attach scans of documents necessary for the calculation of enrollment points and indicate selected subjects affecting the value of the W factor, described in section 2, for evaluation by the admissions committee.

Subjects other than those indicated by candidates are not considered by the selection committee. On the basis of the completed application form, the committee decides whether the candidate meets the criteria for consideration of the higher factor (W).

Candidates are required to submit syllabuses of selected subjects, and the committee in its evaluation may take into account the compatibility of economic and mathematical subjects with the program at the UW.

Optionally, candidates also upload a Research Experience Letter scan to their personal registration account in the IRK system.

4. Check the competence of candidates to study in English

Candidates are required to present a document recognized by the University of Warsaw, certifying their knowledge of English language at a level of at least B2.

Information on documents certifying knowledge of the English language. >> Check! <<

Deadlines

Announcement of results: 22nd of July, 2025

Reception of documents: 

• I round: 23rd-25th of July, 2025
• II round (in case of not fulfilling the limit during I round): 28th-29th of July, 2025
• III round (in case of not fulfilling the limit during II round): 30th-31st of July, 2025
• additional rounds will be announced in case of not fulfilling the limits

Payments

Application fee

Student's ID payment (ELS)

The studies are payable - tuition fees

Required documents

List of required documents submitted by candidates qualified for studies

Additional information

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