Master of Financial Engineering Mathematics

Riga Technical University
Financial Engineering Mathematics
Masters
Engineering & Technology
Public University
Latvia

The Master of Financial Engineering Mathematics at Riga Technical University is an advanced interdisciplinary program combining mathematics, finance, statistics, and computational methods. The program develops quantitative skills for modelling financial markets, analyzing risk, valuing financial instruments, and solving complex financial problems.

Course Details

Category	Details
Time	Full Time
Campus	Riga
Duration	2
Deadline-Date	1-May,
Fee Per Year	4720
Application Fee	150
Currency	Euro
Intake Link	https://www.rtu.lv/lv/studijas/uznemsana
Deadline Link	https://www.rtu.lv/lv/studijas/uznemsana
Intakes	September
Program language requirement	TOEFL iBT 72,TOEFL paper based 532,IELTS 5.5,TOEIC 780,Cambridge English B2 First( Pass),Pearson PTE 59,Duolingo 100

Who can Choose this program?

One of the following (or closely related): Mathematics (applied or pure) Financial Engineering / Financial Mathematics Statistics / Data Science Physics (with strong mathematical background) Economics (with advanced econometrics and math) Computer Science (with strong mathematical/computational finance focus) Engineering (any field with substantial mathematics coursework)

Additional Information

Category	Details
Scope of the program	Graduates can pursue careers as Quantitative Analysts, Financial Engineers, Risk Analysts, Investment Analysts, Financial Modelling Specialists, Actuarial Analysts, Data Analysts, and Financial Consultants. Employment opportunities are available in banks, investment firms, insurance companies, financial institutions, fintech companies, consulting firms, and research organizations.
Program entry requirement	Must hold a Bachelor’s degree (or equivalent) with transcript from a recognised institution.
Required GPA	The overall grades attained in a bachelor's degree must be a minimum of 60%.
GRE Required	GRE is not required
GMAT Required	GMAT is not required
Application Process	Application Process in Latvia for International Students 1. Choose a university and study program. 2. Check the admission requirements and application deadlines. 3. Prepare the required documents (passport, academic transcripts, English language test results, SOP, CV, and other supporting documents). 4. Submit your application through the university's online application portal. 5. Pay the application fee (if applicable). 6. Receive and accept the admission offer. 7. Pay the tuition fee or enrollment deposit. 8. Apply for a Latvia student visa or residence permit (if required). 9. Travel to Latvia and complete your university registration after arrival.
Available Scholarships	https://studyabroadupdates.com/scholarships/
Program accreditation	The program is accredited in Latvia and aligned with the Latvian Qualifications Framework (LQF) and European Qualifications Framework (EQF), supporting recognition of the qualification within Europe.
Living expenses	Living Costs in Latvia The amount of money you need each month to pay for rent, food, and transit is between 450 and 700 EUR. The average cost of living in Latvia is broken down as follows: 1. Accommodation at the university: 70–120 EUR per month 2. Rent (private flat): EUR 100–350 per month 3. Monthly utilities: between 115 and 185 euros 4. groceries and meals: 120–250 EUR per month 5. public transport pass: 10–16 EUR each month
Visa Process Details	1. Passport: Valid passport with old ones if available (Mandatory). 2. CNIC / B-Form / FRC: ID and family relation documents (Mandatory). 3. Photographs: Biometric/passport-sized photo (Mandatory). 4. Offer Letter: Official unconditional admission letter (Mandatory). 5. Tuition Fee Receipt: Deposit, payment, or scholarship proof (Mandatory/Conditional). 6. Academic Documents: Transcripts and degrees with attestations (Mandatory). 7. Language Certificate: IELTS, TOEFL, or language proof (Conditional). 8. CV / Resume: Updated resume with gap details (Mandatory/Conditional). 9. SOP / Motivation Letter: Study plan and home ties explanation (Mandatory/Conditional). 10. Financial Documents: Bank statements, income, and funds proof (Mandatory). 11. Sponsor Documents: Sponsor ID, relation, affidavit, and income proof (Conditional). 12. Accommodation Proof: Housing booking or address (Mandatory/Conditional). 13. Insurance: Travel/health insurance (Mandatory/Conditional). 14. Police Certificate: Character certificate if required (Conditional). 15. Medical Certificate: Medical/TB/polio clear certificate (Conditional). 16. Translations / Legalization: Certified translations or attestations (Conditional). 17. Previous Refusals: Refusal letters with explanations (Mandatory if applicable). 18. Travel History: Visas, stamps, and travel proof (Conditional). 19. Family / Home Ties: Property, business, or family return proof (Recommended). 20. Country-Specific: University invitation or approval details (Country-specific). 21. Country-Specific: Proof of accommodation in Latvia (Country-specific). 22. Country-Specific: Health insurance and legalization/translation (Country-specific).
Part timework	Part-Time Work in Latvia • Hours: Bachelor’s students can work up to 20 hours per week during semesters and 40 hours per week during holidays. Master's and PhD students have no hourly restrictions. • Average Pay: Typically ranges from €400 to €600 per month depending on the city and sector. The official national minimum wage stands at €780 per month. • Common Fields: Delivery platforms (Bolt/Wolt), international call centers, retail, hospitality, and corporate IT/business internships.
Post-study work opportunity	Post-Study Work Opportunities • Stay-Back Window: Upon graduation, international students are granted a job-seeking buffer period: 4 months for Bachelor's and Master's graduates, and up to 9 months for PhD holders. • Full Work Permit: Once you secure an official job contract relevant to your degree, you can convert your status into a standard Temporary Residence Permit (TRP) based on employment. • Path to PR: Working legally on a residency permit for 5 continuous years qualifies you to apply for Permanent Residency (PR).

What is the Master of Financial Engineering Mathematics program at Riga Technical University?

The Master of Financial Engineering Mathematics program at Riga Technical University is an advanced interdisciplinary program that combines mathematics, finance, statistics, and computational methods. It develops quantitative skills for modeling financial markets, analyzing risk, valuing financial instruments, and solving complex financial problems.

What are the entry requirements for the Master of Financial Engineering Mathematics program?

Applicants must hold a Bachelor's degree (or equivalent) from a recognized institution, and the overall grades attained in the bachelor's degree must be a minimum of 60%. GRE and GMAT scores are not required.

How much does the Master of Financial Engineering Mathematics program cost?

The tuition fee for the Master of Financial Engineering Mathematics program is €4,720 per year, and there is an application fee of €150.

What are the living expenses for students in Latvia?

The average living expenses in Latvia range between €450 and €700 per month. This includes accommodation, groceries, utilities, and transport costs.

Are there post-study work opportunities for graduates in Latvia?

Yes, international students are granted a job-seeking buffer period of 4 months upon graduation, with the possibility to convert their status to a Temporary Residence Permit based on employment once they secure an official job contract relevant to their degree.