MSc in Finance
An Overview of the Degree
MSc in Finance caters to highly-motivated top achieving graduates looking to succeed in a career in finance and consulting. The MSc in Finance or Masters in Finance program has a strong analytical focus yet is accessible from either business and finance (business track) or economics, maths, physics, engineering (accelerated track) backgrounds.
- Business track students: have already taken at least introductory level courses in financial accounting, corporate finance, financial markets, derivatives and statistics in a Tier-1 international business school or university. They frequently have had first internships in banking or consulting and are looking for an advanced set of tools to jump-start their career.
- Accelerated track students: have received first class education in a highly quantitative field (Maths, Physics, Engineering, Econometrics) and wish to switch their field to finance. They may or may not have taken some courses in finance and they may or may not have had the first internship in banking or consulting.
Why should I apply to MSc in Finance programs
For the students interested in developing technical skills that you could use as a springboard for a career in Finance, then MSc in Finance program is a choice for you. Also, those who are targeting a career in investment banking MSc in Finance is a very good option. MSc in Finance programs is much more finance specific.
The applicant's career goals will largely determine which type of program you choose. Masters in finance zeroes in on finance in a comprehensive manner, with courses in Financial Theory, Mathematics, Quantitative Finance, Investments, Markets, Financial Reporting and Analysis.
In addition to the qualification you will receive from your institution, you may also be able to take high-level professional accreditation such as the Chartered Financial Analyst (CFA) exam designed to test candidates’ readiness for the professional finance world.
Although the level of content is comparable to a Masters degree, the concept behind the CFA and their examination methods are different although some institutions do embed a significant percentage of the CFA program “Candidate Body of Knowledge” into their degree programs.
Also, you also have the option to pursue higher studies before jumping into a career in finance. You can enroll in a Ph.D. program in Finance, which helps you learn more about various research methods. In the meantime, you also prepare yourself for job opportunities in university-level educational institutions or research institutions.
What do I need to do before I join Masters in Finance
The MSc in Finance provides a broader and deeper exposure to finance, but more limited exposure to general management topics.
Also, you can expect to gain knowledge on subjects like Financial Acquisitions, International Finance, Mergers, and Acquisition to name a few. Masters in Finance prepares graduates for more career in finance.
So there is a strong emphasis on Financial economics to go with financial engineering and computational engineering.
Also, you can expect to gain knowledge on subjects like Bond Portfolio Management, Credit Risk, Financial Modelling to name a few. The following are few of the elective courses which a candidate studying MSc in Finance can choose from to study:
|Business Taxation||Capital Market|
|Corporate Strategy and Financial Institution||Conduct of Debt Restructuring Transactions|
|Energy and Finance||Energy Markets|
|Financial Engineering and Derivatives||Financial Solutions for Corporation|
Duration of MSc in Finance programs
The duration of MSc in Finance programs is generally a 1-year program which goes up to 16 months with an addition of mandatory internship like the HEC Paris, EDHEC MSc Economics, MIT Sloan school of Management have. Also, a candidate is supposed to write a professional thesis while on the campus or during the internship under the supervision of the faculty of the respective school.
Admission requirement for Masters in Finance programs
Candidate must be fluent in English and have a strong quantitative background with preferably prior training (at least introductory level) in financial accounting, corporate finance, investments, derivatives, business statistics, and calculus.
Coming to the academics, some schools will need individuals to hold a Bachelor or Master's degree from an international institution - 2:1 honors or above.
There is a two-step process for applying to MSc in Finance.
- A first selection is made based on the evaluation of your application and supporting documents.
- The pre-selected candidates will then be invited for a face-to-face or Skype interview.
Selection is done on the basis of the overall profile including Global Admission test score, extracurricular and previous work experience (if any). Any experience in the financial sector is an added advantage.
Do I need a GMAT/GRE scores?
1.GMAT or GRE or TAGE MAGE official test score report
2.English language proficiency test score report (TOEFL or TOEIC or IELTS or Cambridge)
Post submission of the application the shortlisted candidates are invited for face to face or skype interview. Also, to be on the safer side to get interview call from top 5 ranked college for Master in Finance a score of 680 in GMAT or 325 in GRE is preferable.
Average GMAT - 680
Average GRE - 325
Average Work experience - 1 Year
Average Age Range - 21-25
Average International Students - 90%
Average Background of Student - Business Administration, Management(40%), Engineering (35%), Economics (20%), Others (5%). A student graduating from MSc in Finance can get can expect jobs mainly in Banking, Financial service sectors, Audit to name a few.
Examples of Employers hiring for Masters in Finance are as follows AIG, Citi, Bank of China, Moody's Cooperation, Flint Capital, Landmark Partners.
Financial Service sector: BNP Paribas, Citi, Goldman Sachs, HSBC, State Street Corporation.
Audit sector: PricewaterhouseCoopers (PwC), Ernst & Young (E&Y), Klynveld Peat Marwick Goerdeler (KPMG), Deloitte Touche Tohmatsu Limited.
Banking Sector: HSBC, Bank of America, Wells Fargo, Citibank, Chase, and Barclays.
Average MSc in Finance Salary
For the year 2015, an MSc in Finance graduates from top B-School starting average salary was 88,000 Euros with graduates finding the job all over the world.
The MSc in Finance Rankings per Financial Times for the year 2016 are as follows-
|2016||School name||Programme name||Country||Salary today (US$)|
|1||HEC Paris||MSc in International Finance||France||96260|
|2||ESCP Europe||Advanced Master in Finance||France / UK / Germany / Spain / Italy||85806|
|3||IE Business School||Master in Finance||Spain||96076|
|4||Edhec Business School||EDHEC MSc in Financial Markets||France||84180|
|5||MIT: Sloan||MIT Sloan Masters of Finance||US||117395|
|6||Esade Business School||MSc in FInance||Spain||81267|
|7||Essec Business School||Advanced Master In Financial Techniques||France / Singapore||79021|
|8||University of St Gallen||HSG MA in Banking and Finance||Switzerland||88902|
|9||Università Bocconi||Master of Science in Finance||Italy||88692|
|10||Skema Business School||MSc Financial Markets and Investments||France||69183|
|11||University of Oxford: Saïd||MSc Financial Economics||UK||91130|
|12||Grenoble Ecole de Management||MSc Finance||France / UK / Singapore||63932|
|13||Imperial College Business School||MSc in Finance||UK||74756|
|14||Nova School of Business and Economics||International Masters in Finance||Portugal||56373|
|15||Peking University: Guanghua||Master of Finance||China||93572|
|16||Stockholm School of Economics||Master of Science in Finance||Sweden||81354|
|16||Warwick Business School||Warwick MSc in Finance||UK||68186|
|18||Kozminski University||Master in Finance||Poland||80393|
|19||Eada Business School Barcelona||International Master in Finance||Spain||69468|
|20||Frankfurt School of Finance and Management||Master of Finance||Germany||80772|
|21||HEC Lausanne||MSc in Finance||Switzerland||72657|
|22||Rotterdam School of Management, Erasmus University||MSc Finance and Investments||Netherlands||65702|
|23||Vlerick Business School||Masters in Financial Management||Belgium||62561|
|24||EMLyon Business School||MSc Finance||France||77949|
|25||Cranfield School of Management||MSc in Finance and Management||UK||64829|
|26||City University: Cass||MSc in Finance||UK||60642|
|27||Brandeis University International Business School||Master of Arts in International Economics and Finance||US||74234|
|28||Shanghai Jiao Tong University, Saif||Master of Finance||China||80218|
|29||University of Hong Kong||Master of Finance||China||74830|
|30||Neoma Business School||MSc in International Finance||France||60719|
|30||Lancaster University Management School||MSc in Finance||UK||55223|
|32||Lund University School of Economics and Management||Master programme in Finance||Sweden||51096|
|33||University of Strathclyde Business School||Strathclyde MSc in Finance||UK||52210|
|34||University College Dublin: Smurfit||MSc Finance||Ireland||53813|
|35||Washington University: Olin||Master of Science in Finance||US||77705|
|35||Illinois Institute of Technology: Stuart||MSc in Finance||US||76852|
|37||Queen Mary, University of London||MSc Investment and Finance||UK||52368|
|38||University of Edinburgh Business School||MSc in Finance and Investment||UK||55370|
|39||University of Rochester: Simon||Masters of Science in Finance||US||73418|
|40||Henley Business School||MSc International Securities, Investment and Banking||UK||48643|
|40||Durham University Business School||MSc Finance||UK||54687|
|42||Singapore Management University: Lee Kong Chian||MSc in Applied Finance||Singapore||64269|
|43||Tulane University: Freeman||Master of Finance||US||65659|
|44||QUT Business School||Master of Business (Applied Finance)||Australia||48981|
|45||ESC Rennes||MSc in International Finance||France||56639|
|45||Ohio State University: Fisher||Specialized Master in Finance||US||76570|
|47||Nottingham University Business School||MSc Finance and Investment||UK||41210|
|48||Adam Smith Business School, University of Glasgow||MSc in International Finance||UK||38619|
|49||Tilburg University||Master in Finance||Netherlands||51588|
|50||University of Bath School of Management||MSc in Accounting and Finance||UK||33496|
|51||Universidad Adolfo Ibanez||Master of Science in Finance||Chile||50338|
|52||Lingnan College at Sun Yat-sen University||MSc in Finance||China||54633|
|53||Aston Business School||MSc in Investment Analysis||UK||36906|
|54||University of Utah: Eccles||MSc in Finance||US||78574|
|55||University of Liverpool Management School||MSc in Finance||UK||31844|
You can also check out London Business School Masters in Financial Analysis (MFA) which is making a name for itself in Finance programs.
If you need a detailed profile evaluation of your chances at MSc in Finance program the MiM Profile Evaluation, it will give you a good assessment of your strengths, weaknesses and overall chances at Master in Finance.
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