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. We will also talk about the cost of masters in finance and is masters in finance worth it.
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.
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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:
University Tuition fee Range
Memorial University of Newfoundland Bachelor's Degree: $11,460 – $30,000 Master's Degree: $4,426– $13,574
University of Regina Bachelor's Degree: $6,344 – $24,448 Master's Degree: $9,463– $23,378
University of Guelph Bachelor's Degree: $6,344 – $24,448 Master's Degree: $9,463– $23,378
Simon Fraser University Bachelor's Degree: $6,344 – $24,448 Master's Degree: $9,463– $23,378
University of Calgary Bachelor's Degree: $8,716 – $16,601 Master's Degree: $8,081 – $108,383
University of British Columbia Bachelor's Degree: $37,460 – $51,206 Master's Degree: $6,204 – $41,030
McGill University Bachelor's Degree: $18,744 – $45,751 Master's Degree: $8,980 – $44,500
University of Montreal Bachelor's Degree: $7,105 – $12,355 Master's Degree: $11,652 – $25,097
University of Saskatchewan Bachelor's Degree: $10,290-$67,347 Master's Degree: $2,054-$55,300
Canadian Mennonite University Bachelor's Degree: $10,770-17,000 Master's Degree: $7,124-36,000
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/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 colleges 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.
To get an in-depth insight, you can check out our blog on Master in Finance jobs and salary.
Programme name
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 MIF 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 MIF Poland 88988
16 Stockholm School of Economics MIF 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
You can also check out the following schools making a name in Finance program
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
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Is Masters In Finance Worth it? | Career Advice, Top Schools, Average Salaries
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