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In an increasingly complex and dynamic financial world, a deep understanding of financial systems, principles, and strategies is not just desirable it's crucial. This is where a Masters in Finance can serve as a powerful catalyst for career growth and success. This program equips students with a robust foundation in financial theory, coupled with practical skills to navigate the intricate world of finance.
Whether it's managing investments, deciphering the mysteries of financial markets, or crafting robust financial strategies for businesses, a Masters in Finance offers the key to unlock these opportunities.
MFin abroad : A Snapshot
| College | Program Duration | Full-time MBA Tuition Fees | Full-time MBA Average Salary | Average GMAT |
|---|---|---|---|---|
| University of Illinois | 15 months | $72,963 | $70,842 | 690 |
| Princeton University | 2 years | $62,860 | $199,000 | - |
| University of Fordham | 1 year | $65,136 | $71,734 | 670 |
| Duke University | Not accepting applications | $113,753 | - | 690 |
| University of McCombs | 10 Months | $53,000 | $81,055 | 660 |
| Boston University | 1 year - 20 months | $31,899 per semester | $125,080 | 690 |
| University of Michigan | 12-16 months | $58,615 | $66,000 | 720 |
| University of Oxford | 9 months | £55,630 | £66,880 | 750 |
| University of Cambridge | 1 Year | £55,080 | £1,08,015 | 700 |
| London Business School | 10-16 months | £62,500 | £94,340 | 710 |
| London School of Economics | 10 months | £44,928 | £55,000 | 680 |
| Imperial College London | 1 year | £45,400 | £44,433 | NA |
| University College London | 1 year | £44,400 | £30,000 | NA |
| Bayes Business School | 24 months | £68,000 | £52,167 | 660 |
| King's College London | 1 year | £19,000 | - | NA |
| University of Warwick | 1 year | £35,500 | £24,658 | 645 |
| HEC Paris | 10 Months | €43,800 | €78,000 | 710 |
| EDHEC Business School | 2 Years | €47,200 | €69,694 | 550 |
| ESCP Business School | 15 Months | €29,100 | €97,000 | - |
| ESSEC Business School | 1-2 Years | €30,000 | €72,489 | - |
| IÉSEG School of Management | 2 Years | €17,900 | €61,417 | 690 |
| Emlyon Business School | 2 Years | €27,900 | €70,700 | - |
| Grenoble Ecole de Management | 2 Years | €19,750 | - | - |
| Schulich School of Business | 12 Months | CAD 84,100 | CAD 80,000 | 690 |
| Queens University | 12 Months | CAD 73,300 | CAD 78,852 | 600 |
| UBC Sauder School of Business | 24 Months | CAD 9,313 | CAD 46,121 | 640 |
| McGill University | 16 Months | CAD 63,345 | CAD 150,000 | 690 |
Eligibility for Masters in Finance
To pursue a Masters Degree in Finance, there are several prerequisites and requirements that prospective students must fulfill. Here is a general list, but remember that specifics might vary across different institutions:
| Bachelor's Degree | While having a bachelor's degree in finance, business, or a related field can be beneficial, many programs accept students from a wide range of academic backgrounds. |
| Strong Academic Record | Universities often look for students who have demonstrated academic excellence in their previous studies. |
| Quantitative Skills | A Master's degree in finance is typically math-intensive. As such, having strong quantitative skills and a good understanding of areas like calculus, statistics, and algebra can be advantageous. |
| GMAT/GRE Scores | Many Master's in Finance programs require applicants to take the GMAT or the GRE. These tests measure your verbal and quantitative reasoning, critical thinking, and analytical writing skills. |
| Work Experience | While not always a prerequisite, some finance programs prefer candidates with some relevant professional experience. However, there are also plenty of programs that accept recent graduates. |
Fees and Expenses
In pursuing a Master of Finance (MFin) degree, prospective students often consider various factors, including tuition fees and associated expenses. Understanding the financial commitments involved is crucial for planning and decision-making. For expample Tuition fees for MFin programs in the US can vary depending on the university and program, typically ranging from approximately $30,000 to $60,000 per year.
Accommodations:
Students may choose to live on-campus, off-campus, or explore alternative housing options to suit their preferences and budget. Rent, security deposits, and utilities (e.g., electricity, water, internet) are key components of accommodation expenses.
Food:
Food expenses are an essential aspect of MFin expenses and can vary based on individual dietary preferences, dining habits, and location. Students may opt for meal plans offered by their university or choose to cook meals at home to save costs.
Transport:
Transportation expenses are another consideration for MFin students, especially those studying in urban areas or abroad. Depending on the location of their university and accommodation, students may incur costs related to public transportation (e.g., bus, subway, train fares), fuel and maintenance for personal vehicles, or alternative transportation methods like biking or ridesharing.
Utilities:
Utilities encompass essential services such as electricity, water, heating, and internet, which are necessary for comfortable living accommodations during the MFin program.
| Expense | Amount |
| Accomodation | $23,820 (for 18 Months) |
| Food | $9,460 |
| Transport | $3,428 |
| Utilities | $9,420 |
MFin Abroad Scholarships
In the pursuit of a Master of Finance (MFin) degree abroad, scholarships play a pivotal role in facilitating access to higher education and alleviating financial burdens for aspiring students. Scholarships are prestigious awards offered by various institutions, organizations, governments, and foundations to support deserving students in their academic endeavors
- Aker Scholarship
- Instituto Ling
- Legatum Fellowship
- Kennedy Memorial Trust Scholarship
- Fundación Gondra Barandiarán
- Chevening Scholarships
MFin Job Market and Salary
Recent surveys and reports indicate that individuals with a Master's in Finance often receive competitive salary packages, thanks to their specialized skills and expertise in the domain. On average, professionals holding this degree can expect to earn between $70,000 and $120,000 annually.
Master of Finance (MFin) graduates have a diverse array of career opportunities awaiting them across various sectors of the financial industry. From roles in diversified financial services, asset management, and investment banking/brokerage to private equity/venture capital and FinTech, the career landscape for MFin professionals is rich with possibilities.
| Job Roles | Average Salary (per year) |
| Financial Analyst | $71,635 |
| Wealth Manager | $77,724 |
| Forensic Accountant | $80,480 |
| Investment Banking Analyst | $88,197 |
| Personal Finacial Officer | $91,931 |
MFin abroad : Without GRE
In recent years, an increasing number of universities offering Master of Finance (MFin) programs abroad have begun to waive the requirement for the Graduate Record Examination (GRE), providing an alternative pathway for prospective students.
This shift in admission criteria offers greater accessibility and flexibility, particularly for candidates who may not excel in standardized testing environments or who wish to streamline their application process.
- Massachusetts Institute of Technology
- Purdue University
- Stevens Institute of Technology
- The University of Dayton
- University of Bridgeport
- Boston University
Conclusion
A Master's in Finance is a valuable investment in your future. It's a degree that offers both depth and breadth in the field of finance, providing the skills and knowledge to navigate the complex world of financial markets, corporate finance, and financial decision-making. Whether you're looking to advance in your current career, switch roles or industries, or simply deepen your understanding of finance, an Masters in Finance can open up a range of opportunities.
