A theoretical study of the effects of applied magnetic fields and hydrostatic pressure on the electron-hole transition energies in self-assembled InAs/GaAs quantum dots is presented. The effective-mass approximation and a model of a cylindrical-shaped quantum dot with in-plane parabolic potential have been used to describe the InAs/GaAs quantum dots. Present theoretical results are in quite good agreement with experimental measurements of the magnetic field and pressure dependence of the exciton transition energies in InAs/GaAs self-assembled quantum dots.