What is a Masters Degree in Finance?
The Master's in Finance is a graduate degree program that focuses on the field of finance. It is meant to equip students with knowledge of financial concepts, analytical tools, and techniques and practical skills such as data analysis, financial modeling, and risk management. MFin programs usually cover investment, corporate finance, international finance, and financial economics. The curriculum for such programs is tailored to train students for careers in the financial services industry, including banking, investment banking, asset management, and consulting.
An MFin program typically lasts from one to two years and requires a bachelor's degree in any of the following: economics, business, or mathematics. There are numerous top-end universities globally offering MFin programs. Quality education and research opportunities will differ from one to another. Specialized concentrations or tracks can be offered in some programs, such as FinTech, sustainable finance, or risk management.
What to expect from Masters in Finance Program:
Several things need to be taken into account when thinking of what to expect from an MFin program:
1. Curriculum and Course load:
Curriculum for the MFin program generally entails courses in topics such as financial economics, corporate finance, investment management, financial markets and institutions, financial modeling, and derivatives. Course load might be challenging since many programs take students to enroll for several classes simultaneously. HEC Paris Masters in Finance is one such leading program.
2. Faculty and Research:
Most MFin programs are taught by professionals who are thoroughly experienced in finance as well as academics, and who have traditionally been close to the financing industry.
3. Networking:
MFin programs usually offer very good opportunities for networking since students often find themselves exposed to professionals working in the industry, learn from attending seminars and conventions, and participate in various internships or practical events.
4. Career Readiness:
An MFin program prepares students for careers in finance. Some programs also include classes on resume and interview preparation, job search strategies, and other career development skills.
5. Tuition and Financial Aid:
The tuition of an MFin program varies greatly. Students need to research what financial aid or scholarships are available to help offset the costs.
An MFin program is demanding but very rewarding. Students are expected to gain a deep understanding of finance and the skills and knowledge needed for success in a career in the financial industry.
Specializations offered in Masters of Finance Programs
The majority of MFin programs provide students with various specializations and concentrations that allow the students to specialize in areas of finance according to their career objectives and interests.
Below are a few of the most common options for specializations in an MFin program:
Securities Analysis: Students learn to analyze stocks, bonds, and other financial instruments to make the best investment decision.
Financial Engineering: This concentration deals with the quantitative methods and modeling techniques for designing financial products and managing risk.
Investment Banking: Students are trained in mergers and acquisitions, initial public offerings, and corporate finance.
Financial Risk Management: Students are trained to assess and manage financial risk which encompasses credit risk, market risk, and operational risk.
Quantitative Finance: A course to teach students the advanced mathematical and statistical ways to analyze and predict financial markets and asset prices.
Corporate Finance: Concentration in financial decision-making inside an organization that includes capital budgeting, cash management, and financial planning. EDHEC Masters in Finance is one such program to consider.
MFin graduates find various career opportunities in the financial industry: banking, investment banking, corporate finance, hedge funds, private equity, wealth management, and financial consulting. Some of the common job titles for MFin graduates include Financial Analyst, Investment Analyst, Financial Consultant, Risk Management Analyst, Portfolio Manager, and Financial Engineer.
Tuition fees vary significantly, from around €18,000 at SKEMA to over £62,500 at LBS, reflecting differences in program duration, reputation, and location.
Most programs offer specializations in core areas like Corporate Finance and Investment Management, but some have unique focuses:
SKEMA and SDA Bocconi offer dedicated Fintech tracks
Several schools now include ESG/Sustainable Finance specializations
St. Gallen offers Alternative Investments as a major track
Career outcomes are strong across top programs:
Employment rates typically range from 90-100% within 3 months
Starting salaries are competitive, especially in financial centers like London
Major financial institutions consistently recruit from these programs
Masters in Finance Tuition Fees (2024-25)
School | Tuition Fee (Local Currency) | Approx. USD* |
ESCP | €29,100 | $31,500 |
HEC Paris | €43,800 | $47,400 |
SKEMA | €18,000-25,000** | $19,500-27,000 |
Imperial College | £45,400 | $57,500 |
LBS | £62,500 | $79,200 |
St. Gallen | CHF 24,600*** | $28,300 |
IE Business School | €47,400 | $51,300 |
SDA Bocconi | €36,000 | $39,000 |
€34,500**** | $37,400 | |
ESSEC | €27,000 | $29,200 |
£41,750 | $52,900 | |
Emlyon | €27,900 | $30,200 |
ESADE | €33,200 | $35,900 |
Exchange rates approximate *Varies by specialization ***Estimated annual fee ****Approximate fee
Specializations Offered in Masters in Finance
School | Key Specializations/Tracks |
ESCP | - Investment Banking & Financial Markets |
HEC Paris | - Business Track (Finance/Business graduates) |
- Accelerated Track (Engineering/Sciences) | |
- Capital Markets | |
- Corporate Finance | |
SKEMA | - Financial Markets & Investments |
- Corporate Financial Management | |
- Auditing & Management Accounting | |
- Sustainable Finance & Fintech | |
Imperial | - Investment Management |
- Corporate Finance | |
- Risk Management & Financial Engineering | |
LBS | - Investment Management |
- Corporate Finance | |
- Risk Management | |
St. Gallen | - Banking & Financial Markets |
- Corporate Finance | |
- Alternative Investments | |
- Quantitative Finance | |
SDA Bocconi | - Corporate & Entrepreneurship Finance |
- Global Markets & Banking | |
- Fintech & Investment Management | |
- Governance, Innovation & ESG Finance | |
WHU | - Capital Markets |
- Corporate Finance | |
- Risk Management | |
ESSEC | - Corporate Finance |
- Financial Markets | |
- Fintech | |
WBS | - Asset Management |
- Banking & Risk Management | |
- Quantitative Finance | |
Emlyon | - Corporate Finance & Treasury |
- Investment Management | |
- Financial Markets |
Prospects of Salary after Masters in Finance:
MFin graduates may earn pretty competitive salaries. The National Association of Colleges and Employers reports that the average starting salary for MFin graduates in 2024 was $78,000.
The MFin graduates' salaries aren't defined but will significantly depend on many factors ranging from industry, location, as well as the nature or responsibilities required in the offered job. However, for many MFin programs, strong connections with the industry make it possible to take home high-paying jobs meant for the graduate along with opportunities for career progression at its best.
Compare Programs: Research and compare all MFin programs before you start applying. Consider such aspects as faculty, curriculum, tuition and fees, location, and program duration.
Prepare for GMAT or GRE: In most MFin programs, GMAT or GRE scores are also required. Prepare well and get a good score for it.
Obtain a good set of application materials: This could be in the form of a well-written resume, very convincing essays, and some solid letters of recommendation.
Demonstrate leadership and initiative: Many programs of MFin value the kind of applicant who shows a good history of taking on responsibilities, whether that be at work, with extracurricular activities, or through volunteer service.
Reach out to current students and alumni: Reach out to the current students and alumni of the programs that you are applying to. Ask them for their insights into the program and whether they have any advice they would like to share.
Start Early: Most MFin programs have a competitive application process. It is a good idea to start well in advance and allow oneself plenty of time to do everything required to complete an application package and meet the deadline.
Interview Preparation: Some MFin programs require interviews as part of the application process, and you must be prepared with common interview questions.
These tips will help increase the chances of getting admission into a highly regarded MFin program and set oneself up for success in his or her future career in finance by following these tips and putting in the effort to prepare a strong application.
Reaching out to a program's admissions office in which you're interested to explore your questions further and sometimes by attending an information session or online open house in addition to all this for information about the program it needs. It is showing great interest and enthusiasm by someone in a program that creates the best impression of all with that admission committee.
Masters in Finance Career Outcomes
School | Employment Rate (3 months) | Average Starting Salary Range* |
ESCP | 100% | €97,000 |
HEC Paris | 99% | €95,000-110,000 |
Imperial | 90% | £65,000-80,000 |
LBS | 92% | £70,000-85,000 |
St. Gallen | 95% | CHF 85,000-100,000 |
*Salary ranges are approximate and vary significantly based on location, role, and industry. Not all schools publish detailed salary data.
Common sectors for employment after a Masters in Finance:
Investment Banking
Asset Management
Private Equity
Corporate Finance
Risk Management
Financial Consulting
FinTech
Commercial Banking
Top employers include:
Goldman Sachs
JP Morgan
Morgan Stanley
BlackRock
HSBC
Deutsche Bank
Credit Suisse
McKinsey
BCG
Deloitte
Areas of study covered in Masters in Finance Program:
1. Financial markets and instruments: The module is a study of the working of financial markets and encompasses the mechanics of the said markets, including the modalities of trading of instruments, the determination of price, and the way by which participants interact with one another. Additionally, the curriculum introduces different instruments such as equities, bonds, derivatives, futures, and options and their respective risks and rewards. Students will be able to analyze and evaluate financial instruments, and know how to apply various strategies in managing risk and achieving the highest possible returns.
2. Corporate Finance and Treasury Management: This portion of the program aims at understanding the financial decisions made by corporations for maximizing their value. Such skills include the ability to critically evaluate and analyze corporate financial statements and make a decision on corporate finance capital budgeting, capital structure, and dividend policy. Other areas of study include cash management, financial planning, and risk management by which a student can know how to control the finances of a corporation.
3. Investment Management and Portfolio Theory : It is all about theory as well as practice on investment management with focus on portfolio selection, risk management, and allocation of assets. Here, one learns modern portfolio theory, the efficient market hypothesis, approaches to constructing and managing investment portfolios and performance evaluation, behavioral finance, and ethical considerations in investment management.
In addition, the number of specializations and elective options in MFin programs has also risen; nowadays, even such newest fields like financial engineering, fintech, and alternative investing can become the direction of their further learning.
Conclusion
Some of the major areas of study in most MFin programs include financial markets and instruments, corporate finance and treasury management, and investment management and portfolio theory. All these study areas provide comprehensive knowledge about financial instruments, risk management, and investment management as well as practical skills and current demands in today's financial market. Specialized MFin programs offer opportunities in specializations and also the possibility of studying and tailoring one's coursework to one's own personal interests and career aspirations. In a nutshell, students are equipped with an arduous yet comprehensive learning experience to take them toward a great career in finance.
Get in touch with an admissions expert at GOALisB for a stellar application to a Masters in Finance program.
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