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Using an equation of motion (EOM) approach, we calculate excitonic propertiesof monolayer transition metal dichalcogenides (TMDs) perturbed by an externalmagnetic field. We compare our findings to the widely used Wannier model forexcitons in two-dimensional materials and to recent experimental results. Wefind good agreement between the calculated excitonic transition energies andthe experimental results. In addition, we find that the exciton energiescalculated using the EOM approach are slightly lower than the ones calculatedusing the Wannier model. Finally, we also show that the effect of thedielectric environment on the magnetoexciton transition energy is minimal dueto counteracting changes in the exciton energy and the exchange self-energycorrection.

Monolayer transition metal dichalcogenides in strong magnetic fields: Validating the Wannier model using a microscopic calculation