Masters in Finance


What is Finance

As we all know, for years on end, MBA has been the go-to higher level business degree for being so accommodating of all concepts. But, as the number of open jobs and the number of employers is increasing, the demand for more skilled professionals is increasing. This is where a Master’s in Finance comes into play. A Master’s degree in Finance is meant to prepare graduates specifically for career in finance. It is taught keeping in mind that the students have some background in finance and want to specialize in it. There is some overlap with an MBA but the financial knowledge that you will gain will be in-depth and tailored to the field of finance.

In the U.S. and Canada the program may be positioned as a professional degree. Particularly in Australia, the degree may be offered as a Master of Applied Finance (MAppFin). In some cases, the degree is offered as a Master of Management in Finance (MMF).


Requirements to Study Finance

Basic requirements include:

  • A strong interest in the field of finance (specifically)
  • Some relevant experience in fields of business and finance, this could be an undergraduate degree, an internship, a course or a job.
  • Completed pre-enrolment courses, such as Introduction to Mathematics/Finance/Accounting. Again, very university specific.
  • GMAT score (or GRE in some cases)
  • IELTS/TOEFL/PTE score.


Core Subjects in Finance

The fundamental subjects include managerial finance, corporate finance and investment management. Other subjects include:

  • Economics
  • Accounting
  • Quantitative Methods
  • Portfolio Management
  • Financial Modeling
  • Managerial Economics
  • Quantitative Finance
  • Computational Finance
  • Private Equity

Specialisations in Finance

Various specializations include:

  • Corporate Finance
  • Asset Management
  • International Finance
  • Financial Management
  • Financial Engineering
  • Financial Markets


Cost of Studying Finance

Although the fees vary from university to university, the average tuition fees and monthly cost of living for master’s in finance in different countries are:

Masters in Finance in USA: $40,000 ; $1,000

Masters in Finance in UK: £20,000 ; £1,500

Masters in Finance in Canada: CA$30,000 ; CA$1,500

Masters in Finance in Australia: AU$40,000 ; AU$2,000


Job Prospects after Masters in Finance

Since Finance is an ever evolving market, there are always new roles that come into play when searching for jobs. Here is a list of the most common job profiles assumed by graduates:

  • Finance Officer
  • Auditor
  • Investment Banker
  • Financial Consultant
  • Investment Banker
  • Financial Manager
  • Broker

The average salaries change from country to country as well as depending on the requirements in that region. These are the general trends observed:

Country

MEDIAN SALARY FOR SIMILAR JOBS (WE CONSIDERED FINANCIAL CONSULTANT)

USA$50,020
UK£28,414
CanadaCA$50,155 
AustraliaAU$61,000 


2019 Top Universities for Masters in Finance

Lancaster University
University College Dublin
ESCP Europe Business School
City University London
EDHEC Business School, Paris
University of Lausanne
Grenoble Ecole de Management
University of Maryland, College Park
Stockholm School of Economics
Stanford University


More Universities to target for Finance in 2019