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Masters In Finance

Overview of the Degree

A Masters in Finance caters to highly-motivated top achieving graduates looking to become future financial leaders.

It has a strong analytical focus which prepares you for a successful career in banking, consulting, asset management, insurance, industry, or academia. The MSc in Finance can be opted irrespective of your background.

There is an option to choose between  a business track and an accelerated track:

  • Business track: This usually caters to students who already have a basic knowledge of finance and thus directly begin with advanced courses such as financial accounting, corporate finance, financial markets, derivatives, and statistics.
  • Accelerated track: This is for students who have received first class education in a highly quantitative field (Maths, Physics, Engineering, Econometrics) and wish to switch to masters degree in finance.

Why should I apply to Masters in Finance programs

For the students interested in developing technical skills which they could use as a springboard for a career in Finance, the Masters in Finance program is a good choice. Also, for those who are targeting a career in investment banking or trading, Masters in Finance will be the right way to go.

The program is aimed towards building a strong Financial base, 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 accreditations such as the Chartered Financial Analyst (CFA) exam designed to test candidates’ readiness for the professional finance world.

Additionally, most Schools offer study trips abroad to get a better perspective of the industry.
Example, IE offers visits to Ghana, London and New York, while  HEC Paris students visit London for their study trip and companies like BNP Paribas, Société Générale, Deutsche Bank, Crédit Suisse, Barclays, Goldman Sachs to gain a professional experience.

Elective courses

Schools also offer various electives to choose from.

The following are a few of the elective courses which a candidate can choose at most Masters in Finance schools:

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Duration of Masters in Finance Programs

The duration for master of science in finance generally spans anywhere between 12 to 18 months.

In schools such as HEC Paris, EDHEC MSc Economics, MIT Sloan School of Management it is mandatory to do an internship. Also, students write a professional thesis as a part of their curriculum.

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.

Admission Process

There is a two-step process for applying to Masters in Finance:

  • A first selection is made based on the evaluation of your application and supporting documents. (Essays, LOR, Resume)
  • The pre-selected candidates will then be invited for a face-to-face or Skype interview depending on location.

Selection is done on the basis of the overall profile including test scores, extracurriculars and previous work experience (if any). Any experience in the financial sector is an added advantage.

GMAT/GRE Scores

  • GMAT or GRE or TAGE MAGE official test score report is a prerequisite for some courses, especially top ones
  • English language proficiency test score report (TOEFL or TOEIC or IELTS or Cambridge) may also be needed

Also, to be on the safer side to get interview call from top 5 ranked college for Masters in Finance a score of 680 in GMAT or 325 in GRE is preferable.

Class Profile

Here is an example of the class profile of a top Masters in Finance school

  • Class size: 103
  • Median GMAT – 710
  • Average Work experience – 1 Year
  • Average Age Range – 21-29
  • Average International Students – 88%
  • Background of Student – Business Administration, Management (39%), Engineering (34%), Economics (22%), Others (5%)

Placement

Some of the top employers hiring from Masters in Finance are 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 Salary :

For the year 2016, a graduate in Masters in Finance from a top B-School has an average starting salary of 67000 Euros with graduates finding jobs all over the world.

Average Salary after 3 years of graduation is more than 93000USD

The employment rate is around 98% within 3 months of graduation and 63% have 2 to 5 job offers to choose from. 

To get an in-depth insight, you can check out our blog on Master in Finance jobs and salary.   

You can also check out the following schools making a name in Finance program

If you need a detailed profile evaluation of your chances at Masters in Finance program the MiM Profile Evaluation, will give you a good assessment of your strengths, weaknesses and overall chances at Master in Finance.

Interested in understanding how to take your MFin application to the next level?