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.
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:
|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 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.
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 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.
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%)
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.
The Universities Rankings per Financial Times for the year 2018 are as follows-
|2018||School name||Programme name||Country||Salary today (US$)|
|1||Edhec Business School||Edhec MSc in Financial Markets||France||105455|
|2||HEC Paris||MSc in International Finance||France||118476|
|3||Essec Business School||Master in Finance||France / Singapore||107435|
|4||ESCP Europe||Advanced Master in Finance||FR / UK / DE / ES / IT||101815|
|5||MIT: Sloan||Sloan Masters of Finance||US||143654|
|6||Skema Business School||MSc Financial Markets and Investments||France||89748|
|7||Università Bocconi||Master of Science in Finance||Italy||113552|
|8||IE Business School||Master in Finance||Spain||105513|
|9||Warwick Business School||Warwick MSc in Finance||UK||93868|
|10||University of St Gallen||HSG MA in Banking and Finance||Switzerland||104036|
|11||University of Oxford: Saïd||MSc Financial Economics||UK||115302|
|12||Imperial College Business School||MSc in Finance||UK||91569|
|13||Esade Business School||MSc in Finance||Spain||93837|
|14||Shanghai Advanced Institute of Finance at SJTU||Master of Finance||China||111718|
|15||Kozminski University||Master in Finance||Poland||88988|
|16||Stockholm School of Economics||Master in Finance||Sweden||99465|
|17||Peking University: Guanghua||Master of Finance||China||122310|
|18||Tsinghua University School of Economics and Management||Master of Finance||China||119962|
|19||Nova School of Business and Economics||International Masters in Finance||Portugal||66467|
|20||City University: Cass||MSc in Finance||UK||75630|
|21||Grenoble Ecole de Management||MSc in Finance||France / UK / Singapore||72495|
|22||Brandeis University International Business School||MA in International Economics and Finance||US||94626|
|23||Eada Business School Barcelona||International Master in Finance||Spain||73855|
|24||EMLyon Business School||MSc in Finance||France||77881|
|25||Université Paris-Dauphine||Master of Finance||France||72091|
|26||Católica Lisbon School of Business and Economics||MSc in Finance||Portugal||61921|
|27||Lancaster University Management School||MSc in Finance||UK||68743|
|28||Frankfurt School of Finance and Management||Master of Finance||Germany||93752|
|29||Cranfield School of Management||MSc in Finance and Management||UK||76940|
|30||HEC Lausanne||MSc in Finance||Switzerland||77010|
|30||Vlerick Business School||Masters in Financial Management||Belgium||65457|
|32||ESC Rennes||MSc in International Finance||France||64639|
|33||Henley Business School||MSc International Securities, Investment and Banking||UK||68106|
|34||Boston College: Carroll||Carroll MSc in Finance||US||107648|
|35||University of Edinburgh Business School||MSc in Finance and Investment||UK||64098|
|36||Rotterdam School of Management, Erasmus University||MSc in Finance and Investments||Netherlands||69686|
|36||University College Dublin: Smurfit||MSc in Finance||Ireland||56936|
|38||University of Maryland: Smith||Masters of Finance||US||84692|
|39||Lund University School of Economics and Management||Master in Finance||Sweden||52794|
|40||ISCTE Business School||MSc in Finance||Portugal||42512|
|41||Neoma Business School||MSc in International Finance||France||62026|
|42||Illinois Institute of Technology: Stuart||MSc in Finance||US||83789|
|43||University of Rochester: Simon||MSc in Finance||US||81981|
|44||Singapore Management University: Lee Kong Chian||MSc in Applied Finance||Singapore||66190|
|45||Washington University: Olin||MSc in Finance||US||88750|
|46||HEC Montreal||MSc in Finance||Canada||76473|
|46||University of Texas at Austin: McCombs||McCombs MSc in Finance||US||96140|
|48||University of Strathclyde Business School||Strathclyde MSc in Finance||UK||51457|
|49||Tulane University: Freeman||Master of Finance||US||71592|
|49||University of Bath School of Management||MSc in Accounting and Finance||UK||40735|
|51||Durham University Business School||MSc in Finance||UK||55722|
|52||University of Utah: Eccles||MSc in Finance||US||86355|
|53||CUHK Business School||MSc in Finance||China||71533|
|54||Leeds University Business School||MSc in Accounting and Finance||UK||37784|
|55||Ohio State University: Fisher||Specialized Master in Finance||US||80525|
|56||Lingnan College at Sun Yat-sen University||MSc in Finance||China||60174|
|57||Fordham University: Gabelli||MSc in Global Finance||US||65668|
|58||Tilburg University||Master in Finance||Netherlands||55644|
|59||Adam Smith Business School, University of Glasgow||MSc in International Finance||UK||35164|
|60||Universidad Adolfo Ibanez||MSc in Finance||Chile||47509|
You can also check out the following schools making a name in Finance programs.
|School name||Programme name||Country|
|London Business School||Masters in Financial Analysis||UK|
|Columbia University||Quantitative Methods in the Social Sciences||US|
|Johns Hopkins University||MS in Finance/ Master of International Economics and Finance||US|
|New York University||MS in Accounting/MS in MathFin||US|
|USC Marshall School of Business||MS in Finance||US|
|University of Texas||Texas Master of Science in Finance||US|
|Yale University||MS in International and Development Economics.||US|
|Duke Fuqua||Master of Quantitative Management||US|
|University of Illinois at Urbana–Champaign||Master of Science in Finance||US|
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?
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