Your Guidebook to Masters in Finance(MFin) this 2024
Mfin Overview
Masters in Finance (MFin) is a specialized master's program offered to graduates who are highly interested in furthering or developing knowledge and skills to build a successful career in finance. With this course, students will not just prepare to become finance experts but also get access to a huge professional network through the school's alumni base.
A Masters in Finance program is typically stretched over a period of 0-2 years, depending on the graduate school and can be pursued, in some cases, part-time too. Masters in Finance is a discipline with a vast spectrum of subjects being covered under it. Although a Masters in Finance course is a specialization in finance itself, there are many sub-specializations available under its umbrella. For this purpose, many business schools provide a Masters in Finance course focused on certain areas of specialization within the realm of finance.
Eligibility for MFin
To be eligible for pursuing a Mfin in a top-tier school you need the following documents.
- Qualifying Degree: To qualify for a master's degree in finance abroad, a bachelor's degree is typically required. While a background in finance is not always necessary, the specific requirements can vary depending on the specialization and the university. Most universities prefer candidates with a strong background in business, economics, quantitative disciplines, or related fields.
- Transcripts: Transcripts of all your grades and coursework is a necessary part of the application so make sure to get it from your university in time.
- GRE/GMAT: Standardized tests like GRE and GMAT are excellent ways to show your quantitative aptitude and reasoning capabilities. Majority of top masters in finance ask for a gmat or gre score to validate your competence. Some universities allow GMAT waivers for Masters in finance programs as well. Here is a list of top masters in finance programs that do not require a GMAT score.
- English Proficiency tests: If you are from a non-English speaking country you will need an English proficiency test like IELTS or TOEFL score to prove your verbal competence. You might get a waiver if your undergrad degree was in english.
- Statement of Purpose: A well crafted SOP and essays can be your gateway to winning your dream school admit. Make sure you highlight all your accomplishments and narrate your journey as a story which would help the admissions officers understand how suited you are to the programme. Here's our secret ingredient to spice up your profile for this 2025.
- CV: A well-structured CV or resume is a very important part of your application. Add all the relevant skills , accolades, accomplishments you made in your academic journey and beyond.
- Letters of Recommendation. Arrange a few referees to write your LORs that will outline your outstanding capabilities and diligence to work. Generally an academic supervisor and/or professional supervisors are needed , one who has watched you work close and supervised your actions. Make sure to highlight your leadership skills as well.
Some universities ask for other documents as part of your application as well. Generally it can be a letter of intent or research proposals. You will find all the details on the admissions page of the masters in finance degree you are interested in.
Popular MFin Specialisations
Universities abroad offer several types of MSc finance courses. The curriculum in these Mfin programs includes basics of finance in term 1 and then in the second year/term they offer a particular specialization. It is very important to choose the masters in finance program that best suits your line of work and field of interest to further advance your careers. Some popular Masters in finance specializations in 2024 include the following,
- MSc in International Finance
- MSc in Accounting and Finance
- MSc in Banking and Finance
- MSc in Financial Markets
- MSc in Applied Finance,
- Msc in Fintech
In this article we discuss various types of masters in finance programs available globally. We will then delve deeper into their area of focus within the finance industry and the role they play in helping you advance your career in the niche to fulfill your career goals.
Types of Masters in Finance Programs
- MSc in International Finance
MSc in International Finance is a program that provides basic knowledge about international trade, and covers the fields of both Corporate Finance and Financial Markets. MSc in International Finance is also widely known as Masters in Finance, name varying depending on the graduate schools offering the courses. This course aims to equip students with advanced analytical skills and solid knowledge of financial concepts, in order to prepare them for real world contributions to the field of finance.
This course is relevant in various multinational businesses and trade settings. Investors rely heavily on the guidance and reports prepared by the International Finance experts while setting targets and priorities for their investment portfolios. The skills and knowledge gathered through this course can include banking, stock-broking, investment management, project management, risk management as well as the study of corporate finance. Thus, this course provides many exciting career prospects including investment banking, private equity, asset management, trading and venture capital.
MSc in International Finance usually includes 1-2 years of coursework, and is a highly marketable course for candidates to add to their profile.
Top Masters in Finance Programs
UNIVERSITY | LOCATION | COURSE | DURATION | TUITION |
MIT | Maschussetes, USA | Masters in Finance | 12 months | $91,250 |
HEC Paris | Jouy-en-Josas, France | Masters in International Finance | 16 months | 40,900 Euros |
WHU | Vallender, Germany | Masters in Finance | 17-21 months | 30,300-37,200 Euros |
EDHEC | Croix, France | Masters in International Finance | 18 months | 28,950 Euros |
London Business School(LBS) | London, UK | Masters in Finance | 10-16 months | 62,500 GBP |
Schulich School of Business | Ontario, Canada | Masters in Finance | 1 year | $30,915 |
University of Toronto (Rotman) | Ontario, Canada | Master of Finance | 20 months | $94,000 |
Cambridge University | Cambridgeshire, UK | Master of Finance | 12 months | 55,080 GBP |
London School of Economics (LSE) | London, UK | MSc Finance | 10 months | 62,500 GBP |
IE Business School | Madrid, Spain | Master of Finance | 1 year | 41,000 Euros |
2. MSc Accounting and Finance
MSc in Accounting and Finance is a masters program aimed at providing candidates valuable skills to pursue their careers in the accounting niche. The courses are usually designed in a manner to develop critical thinking and analytical skills that are essential to building a global accounting career.
MSc in Accounting and Finance can be a 12-month course in some B-schools while a 2 year course program in others. The coursework includes core accountancy knowledge as well as well-rounded business skills required to function in today’s competitive industry.
Some of the top graduate schools to apply for MSc in Accounting and Finance would include Harvard University, London School of Economics and Political Science, University of Oxford, University of Cambridge based on their world QS ratings for the course.
3. MSc in Banking and Finance
The banking and finance industry is one of the most coveted fields for exemplary job opportunities and building a credible career for candidates. It provides a spectrum of career opportunities and a person with the banking and finance background has great chances of advancing to the top management level in the span of their careers. Here, while the finance deals with the accounting and reporting services, banking deals with the day to day transaction.
For every firm from small scale to large industry requires banking services and solutions, so does every country across the globe. Thus, banking job roles and profiles are highly required and in demand and pay employees well too.
MSc in Banking and Finance courses can again range between 0-2 years and the coursework can be focused on developing core banking skills over others, while also covering the basic fundamentals of working in the finance industry. Some of the top b-schools for this program include London Business School, MIT Sloan, IE Business School, SDA Bocconi and HEC Paris.
4. MSc in Financial Markets
MSc in Financial Markets is usually a 1-2 years masters in finance program that focuses on market-driven financial study reflecting the constantly changing world of international finance. The main subjects in this type of course would include and focus on risk management, portfolio management, financial trading, asset management, investment evaluation and such providing students with a practical understanding of the international financial markets.
This kind of course study is best for candidates building a career based on the shifts of global financial markets including working for financial services firms, business development or trading in the global markets.
Top universities offering an MSC in Financial Markets:
UNIVERSITY | LOCATION | COURSE | DURATION | TUITION |
Universite PSL-Dauphine | Paris, france | Masters in Finance | 2 years | 243 Euros |
ESSEC | Cergy, France | Masters in International Finance (financial markets track) | 1-2 years | 20,700 Euros |
University of Southampton | Southampton,UK | MSc in Finance | 18-24 months | 28000 GBP |
SKEMA | Suresnes, France | MSc Financial Markets & Investments | 2 years | 25,000 Euros |
London Business School(LBS) | London, UK | Masters in Financial Analysis | 12 months | 62,500 GBP |
A master's in finance degree is too expensive for you? Check out this list of the world’s most affordable top-ranked MFin programs
5. MSc in Financial Engineering
MSc in Financial Engineering is a unique masters in finance course which belongs to a multidisciplinary field that studies financial theory, engineering methods, mathematical tools and programming. This course suits all students interested in receiving full-time training in the application of engineering methodologies and quantitative methods in finance. It is a good course to differentiate yourself from the competition and establish yourself as an expert in a specific area in the financial services sector.
MSc in Financial Engineering is a challenging and technical course that provides incredible career opportunities. The skills and knowledge gathered through this course can include testing and issuing new investment tools and methods of (risk) analysis. Financial engineers usually work with insurance companies, asset management firms, hedge funds, banks and data analytics.
MSc in Financial Engineering programs are spanned over a period of either one or two years, and are being offered by some of the top graduate schools across the globe.
Top Masters in Financial engineering programs
UNIVERSITY | LOCATION | COURSE | DURATION | TUITION |
NYU | New York, USA | Master of Science in Financial Engineering | 18 months | $72,600 |
University of California, Los Angeles (UCLA) | California, USA | Master of Financial Engineering | 13 months | $27,366 |
Carnegie Mellon University | PA, USA | MSc in Computational Finance | 16 months | $58800 |
University of Illinois | Illinois, USA | Master of Science in Financial Engineering | 15-24 months | $47,100 |
University of Birmingham | England , UK | Master of Science in Financial Engineering | 2 years | 27270 GBP |
Imperial College London | London, UK | MSc Risk Management & Financial Engineering | 1 year | 45400 GBP |
HEC Montreal | Quebec, Canada | Master of Science in Financial Engineering | 16-24 months | $23,800 |
6. MSc in Quantitative Finance
MSc in Quantitative Finance is a Masters in Finance program that encompasses learning how to design new financial products and provides advanced knowledge of the main theoretical and applied quantitative finance concepts. It teaches the candidates to build an international as well as multicultural perspective to focus on and solve current issues in the field of finance.
This course teaches skills surrounding asset pricing and investment, CAPM model, Black-Scholes model, interest rate models and derivatives, and theories of finance. Candidates are trained well to specialize in designing and trading financial instruments, finding solutions for pricing and hedging, computer programming and financial mathematics, and building and/or improving research skills in the finance industry and can expect career opportunities matching the same.
Top MSc in Quantitative Finance Programs
UNIVERSITY | LOCATION | COURSE | DURATION | TUITION |
ETH Zurich | Zurich, Switzerland | Master Quantitative Finance | 2 years | 730 CHF |
University of California-Berkeley | Berkeley, USA | Master of Financial Engineering | 13 months | $80,486 |
Carnegie Mellon University | PA, USA | MSc in Computational Finance | 16 months | $58,800 |
Singapore Management University | Singapore | Master of Science in Quantitative Engineering | 12 months | SGD 50760 |
NYU | New York , USA | Master of Science in Quantitative Engineering | 12-20 months | $72,600 |
Erasmus School of Economics (Rotterdam) | Rotterdam, Netherlands | Master Quantitative Finance | 1 year | 16,900 euros |
University of Zurich | Zurich, Switzerland | Master Quantitative Finance | 16-24 months | 1460 CHF |
Getting into the world's top MFin programs is no joke, but don’t worry, we can take care of that. If you wish to crack into a top MFin program of the world, feel free to schedule a call with us.
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