Operational Research and Finance

Program Overview

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Operational Research and Finance (MSc)

About this course

MSc Operational Research and Finance will give you expert skills in revenue management, credit scoring, and financial risk management. A summer dissertation provides an opportunity to develop your research skills, often in a commercial setting. You’ll graduate with the applied analytics and financial modelling skills highly sought after by financial institutions.

The study of operational research is the application of scientific methods to the study of complex organisational problems. We’ll train you in key techniques, methods and approaches, and you’ll apply them to practical problems. You’ll also learn about the role of operational research in financial markets and corporate finance.

This operational research master’s at the University of Southampton will give you in-depth knowledge of:

• revenue management
• credit scoring
• financial risk management

You’ll get a specialist understanding of applied analytics and financial modelling that’s applicable across financial institutions and in financial operations.

The summer dissertation gives you an opportunity to develop your research skills, often in a commercial setting, and our industrial liaison team will work with you to find a project that suits your skills and ambitions.

All MSc students have the opportunity to compete for a 3-month summer project with an external organisation, which will form the basis of their dissertation. Alternatively, students have the option of working on an internal project linked to cutting-edge research led by one of our academics.

Flexible study

If you prefer, you can apply to study this course as:

• a part-time master's - study the same course content over 2 or more years

Your modules and fees may vary if you choose a different study option.

We regularly review our courses to ensure and improve quality. This course may be revised as a result of this. Any revision will be balanced against the requirement that the student should receive the educational service expected.

Course lead

Professor Alain Zemkoho is your course leader. Read Professor Zemkoho’s profile to learn more about his work.

Learn more about these subject areas

Business, accounting, finance and marketing

Learn to succeed in business and shape industry practice. At Southampton Business School you'll develop the skills to understand the real-world issues facing businesses, organisations and government.

Mathematical sciences

Build your knowledge of maths concepts and techniques on our courses in pure and applied maths, statistics and operational research. The analytical and problem-solving skills you'll develop are valued by employers in many fields.

Course location

This course is based at Highfield.

Awarding body

This qualification is awarded by the University of Southampton.

Download the Course Description Document

The Course Description Document details your course overview, your course structure and how your course is taught and assessed.

• Download ODT

Entry requirements

You'll need a 2:1 degree in a quantitative subject which has a high maths content. You must have high grades in maths modules as well as accounting, finance and actuarial modules.

Find the equivalent international qualifications for your country.

English language requirements

If English isn't your first language, you'll need to complete an International English Language Testing System (IELTS) to demonstrate your competence in English. You'll need all of the following scores as a minimum:

• overall score: 6.5
• reading: 6.0
• writing: 6.0
• speaking: 6.0
• listening: 6.0

If you do not meet the English language requirements through a test or qualification, you may be able to meet them by completing one of our pre-sessional English programmes before your course starts.

If you don’t meet the English language requirements, you can achieve the level you need by completing a pre-sessional English programme before you start your course.

Pre-masters

If you don’t meet the academic requirements, you can complete a pre-master's programme through our partnership with OnCampus. Learn more about the programmes available.

Recognition of professional experience

If you don't have the exact entry requirements, but you have significant work experience in this sector we’ll assess your relevant professional experience, your subject knowledge and your aptitude for learning.

Your application will be considered on individual merit and you may be asked to attend an interview.

Got a question?

Please contact us if you're not sure you have the right experience or qualifications to get onto this course.

• Email: [insert email]
• Tel: +44(0) [insert phone number]

Course structure

This is a full-time master’s course. You’ll study for 12 months, from September to the following September.

In the first 9 months (semesters 1 and 2) you'll study the taught part of your course.

This is made up of modules that everyone on the course takes, and modules we’ll ask you to choose from a list of options. You'll choose options from a range of additional financial topics as well as further aspects of operational research.

During semester 2 you’ll begin preparing for your dissertation.

For the last 3 months, over the summer, you’ll work independently to research and write your dissertation. You’ll have one-to-one meetings with your supervisor during this time to discuss your progress.

Want more detail? See all the modules in the course.

Modules

The modules outlined provide examples of what you can expect to learn on this degree course based on recent academic teaching. As a research-led University, we undertake a continuous review of our course to ensure quality enhancement and to manage our resources. The precise modules available to you in future years may vary depending on staff availability and research interests, new topics of study, timetabling and student demand. Find out why, when and how we might make changes.

For entry in academic year 2025 to 2026

Year 1 modules

You must study the following modules:

• Corporate Finance 1
• Data Mining and Analytics
• Introduction to Python
• OR Methods for Data Scientists
• Operational Research and Data Science Case Study 1
• Operational Research and Data Science Case Study 2
• Project
• Statistical Methods for OR Modelling

You must also choose from the following modules:

• Analytical Consultancy Skills
• Computational Machine Learning and Optimisation
• Computer-based statistical modelling
• Corporate Finance 2
• Financial Portfolio Theory
• Financial Risk Management
• Flexible Regression
• Forecasting
• Project Management
• Project Risk Management
• Revenue Management

Learning and assessment

Learning

The learning activities for this course include the following:

• lectures
• computer workshops
• case studies
• individual and group projects
• independent learning (studying on your own)

Assessment

We’ll assess you through:

• coursework, reports and essays
• a dissertation
• individual and group projects
• written exams

Dissertation

Once you complete the taught component of your course, you’ll spend 3 months of supervised research for your dissertation.

Academic Support

We’ll assign you a personal tutor, and you’ll have access to a senior tutor.

Careers and employability

Employability skills

This degree will allow you to develop and evidence subject-specific and targeted employability skills. This includes the required skill set for a range of future careers, further study, or starting your own business.

The skills you can expect to focus on and gain from this course include:

• Research
• Critical thinking
• Self-management
• Communication
• Problem solving

The employability and enterprise skills you'll gain from this course are reflected in the Southampton skills model. When you join us you'll be able to use our skills model to track, plan, and benefit your career development and progress.

Download skills overview

Career pathways

Graduates commonly work in a range of organisations or sectors including:

• Education
• Engineering
• Finance
• Banking
• Accountancy
• Government
• Insurance
• IT
• Business consultancy
• Marketing
• Market research
• Health
• Research
• Not-for-profits/charities

Careers directly related to this course:

• Statistician
• Operational researcher
• Actuary
• Economist
• Data scientist
• Market researcher
• Research scientist (maths)
• Secondary school teacher
• Software engineer
• Tax adviser

See more

Wider career opportunities:

• Business analyst
• Compliance officer
• Academic researcher
• Financial manager
• Management consultant
• Meteorologist
• Quantity surveyor
• Policy officer
• Financial trader

See more

Example job titles of Southampton MSc Operational Research and Finance graduates*:

• Analyst
• Analytics consultant
• Business analyst
• Data analyst
• Data scientist
• Finance executive
• Systems analyst
• Technology consultant
• Tax associate
• Trainee actuary

See more

Job prospects for MSc Operational Research and Finance graduates

• Average professional salary: £33k
• In a skilled profession or further study: 93%
• Graduate employment rate: 98%

Source

*Example graduate job titles and job prospect statistics taken from The Graduate Outcomes Survey, which gathers information about the activities and perspectives of graduates 15 months after finishing their course.

Work experience opportunities

Choosing to do work experience is a great way to enhance your employability, build valuable networks, and evidence your potential. Learn about the different work and industry experience options at Southampton.

Read more

Careers services and support

We are a top 20 UK university for employability (QS Graduate Employability Rankings 2022). Our Careers, Employability and Student Enterprise team will support you. This support includes:

• work experience schemes
• CV and interview skills and workshops
• networking events
• careers fairs attended by top employers
• a wealth of volunteering opportunities
• study abroad and summer school opportunities

We have a vibrant entrepreneurship culture and our dedicated start-up supporter, Futureworlds, is open to every student.

Your career ideas and graduate job opportunities may change while you're at university. So it is important to take time to regularly reflect on your goals, speak to people in industry and seek advice and up-to-date information from Careers, Employability and Student Enterprise professionals at the University.

More about careers support

Fees, costs and funding

Tuition fees

Fees for a year's study:

• UK students pay £9,250.
• EU and international students pay £25,400.

Check fees for other versions of this course.

Deposit

If you're an international student on a full-time course, we'll ask you to pay £2,000 of your tuition fees in advance, as a deposit.

Your offer letter will tell you when this should be paid and provide full terms and conditions.

Find out about exemptions, refunds and how to pay your deposit on our tuition fees for overseas students page.

What your fees pay for

Your tuition fee covers the full cost of tuition and any exams. The fee you pay will remain the same each year from when you start studying this course. This includes if you suspend and return.

Find out how to pay your tuition fees.

Accommodation and living costs, such as travel and food, are not included in your tuition fees. There may also be extra costs for retake and professional exams.

Explore:

• accommodation costs
• living costs
• budgeting advice
• fees, charges and expenses regulations

10% alumni discount

If you’re a graduate of the University of Southampton, you could be eligible for a 10% discount on your postgraduate tuition fees.

Postgraduate Master’s Loans (UK nationals only)

This can help with course fees and living costs while you study a postgraduate master's course. Find out if you're eligible.

Southampton Mathematics Postgraduate International Scholarship

A scholarship of £3,000 is available to international students studying for a postgraduate master’s in Mathematics.

Find out more about the Southampton Mathematics Postgraduate International Scholarship, including eligibility and conditions.

Other postgraduate funding options

A variety of additional funding options may be available to help you pay for your master’s study. Both from the University and other organisations.

Funding for EU and international students

Find out about funding you could get as an international student.

How to apply

1. Use the blue 'apply for this course' button on this page to take you to our postgraduate admissions system.
2. Create an account which gives you access to your own application portal.
3. Search for the course you want to apply for.
4. Complete the application form and upload any supporting documents.
5. Pay the £50 application assessment fee, (there are some exemptions, check terms and conditions).
6. Submit your application.

For further details of our admission process, read our step by step guide to postgraduate taught applications.

Application deadlines

UK students

The deadline to apply for this course is Tuesday 9 September 2025, midday UK time.

We advise applying early as applications may close before the expected deadline if places are filled.

International students

The deadline to apply for this course is Tuesday 26 August 2025, midday UK time.

We advise applying early as applications may close before the expected deadline if places are filled.

Application assessment fee

We’ll ask you to pay a £50 application assessment fee if you’re applying for a postgraduate taught course.

This is an extra one-off charge which is separate to your tuition fees and is payable per application. It covers the work and time it takes us to assess your application. You’ll be prompted to pay when you submit your application which won’t progress until you've paid.

If you're a current or former University of Southampton student, or if you’re applying for certain scholarships, you will not need to pay the fee. PGCE applications through GOV.UK and Master of Research (MRes) degree applications are also exempt. Find out if you’re exempt on our terms and conditions page.

Supporting information

When you apply you’ll need to submit a personal statement explaining why you want to take the course.

You’ll need to include information about:

• your knowledge of the subject area
• why you want to study a postgraduate qualification in this course
• how you intend to use your qualification

References are not required for this programme.

Please include the required paperwork showing your first degree and your IELTS English language test score (if you are a non-native English speaker) with your application. Without these, your application may be delayed.

What happens after you apply

You'll be able to track your application through our online Applicant Record System.

We will aim to send you a decision 6 weeks after you have submitted your application.

If we offer you a place, you will need to accept the offer within 30 working days. If you do not meet this deadline, we will offer your place to another applicant.

Unfortunately, due to number of applications we receive, we may not be able to give you specific feedback on your application if you are unsuccessful.

Equality and diversity

We treat and select everyone in line with our Equality and Diversity Statement.

Got a question?

Please contact us if you're not sure you have the right experience or qualifications to get onto this course.

• Email: [insert email]
• Tel: +44(0) [insert phone number]

Related courses

Operational Research and Finance (MSc) is a course in the Business, accounting, finance and marketing and Mathematical sciences subject areas. Here are some other courses within these subject areas:

• MSc Accounting and Finance
• MSc Accounting and Management
• MSc Business Analytics and Finance
• MSc Business Analytics and Management Science
• MSc Business and Heritage Management
• MSc Business Strategy and Innovation Management
• MSc Digital Business
• MSc Digital Marketing
• MSc Digital Strategy and Information Systems
• MSc Finance
• MSc Finance and Econometrics
• MSc Finance and Economics
• MSc Human Resource Management
• MSc International Accounting and Governance
• MSc International Accounting and Sustainability
• MSc International Banking and Financial Studies
• MSc International Entrepreneurship and Management
• MSc International Financial Markets
• MSc International Management
• MSc Logistics and Supply Chain Analytics
• MSc Management
• MSc Management and Artificial Intelligence
• MSc Marketing Analytics
• MSc Marketing Management
• MBA Master of Business Administration
• MSc Operational Research
• MSc Project Management
• MSc Risk and Finance
• MSc Risk Management
• MSc Shipping Finance
• MSc Strategic Operations and Supply Chain Management
• MSc Sustainable Finance

Program Outline

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Careers:

With a master’s in operational research in finance, you’ll be able to move into senior management roles, and career advancement is typically fast. Our graduates have gone on work in fields including: revenue management credit scoring financial risk management