About a Master’s in Finance abroad
Let’s begin by talking about what a finance degree is, specifically the MS in Finance. To begin with, finance is the foundation that the world of business is built on. Everything, from stock markets and banking, to personal and business operations, use finance. An MS in Finance (whether general track or specialized) is a degree that gives you the skills and knowledge needed to succeed in the financial industry.
When it comes to an MS in Finance, there are many specializations you could opt for. The most common combinations are listed as under:
- Economics and finance degrees: An MS in Finance with an economics background can never go wrong. It’s a classic choice that opens up roles in many industries, from banking to public sector.
- Banking and finance degrees: If you are sure that banking is your calling, an MS in Finance with a banking specialization will lead you straight into investment banking.
- Accounting and finance degrees: An MS in Finance with an accounting track will open up roles for you in accounting, consulting, and even investment banking.
Now, note that as an MS in Finance is a highly quantitative degree, there is a fair amount of academic caliber in mathematics required for a finance degree. However, the benefits of a finance degree far outweigh the efforts required to get in.Now, in the next section, we’ll look at which are the best countries to study an MS in Finance abroad.
Top countries to study an MS in Finance
Let’s look at the best countries to study an MS in Finance abroad:
- The United States
Somewhat unsurprisingly, the USA tops the list of the best countries to study an MS in Finance abroad. A staggering 31 out of the top 100 universities for an MS in Finance are located in the USA, according to the 2024 QS Universities Rankings. Globally renowned universities like MIT, UC Berkeley, and USC feature on the QS rankings list of MS in Finance courses.
- The United Kingdom
Close on the heels of the USA is the United Kingdom, with 19 out of the top 100 universities for an MS in Finance abroad. Also note that the #1 position on the list is shared between the UK and France (Oxford and HEC Paris). On the list are schools like Judge Business School (Cambridge), the London School of Business, and the London School of Economics. Note that while the USA has 3 schools in the top 10, the UK has 4. And while the UK has 6 schools in the top 20, the USA only has 3.
- France
This may come as a surprise to some, but 5 of the top 20 universities for an MS in Finance abroad are in France. Also, 13 of the top 100 MS in Finance programs are taught in the country, including the #1 ranking program, at HEC Paris. Pursuing an MS in Finance in France is great because the program lasts only 9 months. This means you can finish your degree fast and start working sooner.
- Spain
2 of the top 20 universities for an MS in Finance are in Spain. Spain also has two more universities on the list for a total of 4 in the top 100. Additionally, the market for jobs after an MS in Finance in Spain is relatively unsaturated, as compared to the rest of the world.
And with the countries being covered, let’s look at the best universities for MS in Finance programs in those countries.
Top universities in the world for an MS in Finance
Below is the list of the top 25 universities for an MS in Finance, as per the 2024 QS Universities Ranking list, by program.
| Rank | University Name | City | Country | Department (School) Name | Program Name |
| 1 | HEC Paris | Paris | France | HEC Paris | Master in International Finance |
| 1 | Oxford | Oxford | United Kingdom | Said School of Business | MSc Financial Economics |
| 3 | London Business School | London | United Kingdom | London Business School | MSc in Financial Analysis |
| 4 | MIT | Cambridge (MA) | United States | MIT Sloan School of Management | Master of Finance |
| 5 | UC Berkeley | Berkeley (CA) | United States | UC Berkeley Haas School of Business | Master of Financial Engineering |
| 6 | Cambridge | Cambridge | United Kingdom | Judge Business School | Master of Finance |
| 7 | ESSEC Business School | Paris | France | ESSEC Business School | Master in Finance |
| 8 | London School of Economics | London | United Kingdom | London School of Economics | MSc Finance |
| 9 | UCLA | Los Angeles (CA) | United States | UCLA Anderson School of Management | Master of Financial Engineering |
| 10 | Bocconi University | Milan | Italy | Bocconi University | MSc in Finance |
| 11 | IE Business School | Segovia | Spain | IE Business School | Master in Finance |
| 12 | Copenhagen Business School | Copenhagen | Denmark | Copenhagen Business School | Master In Finance |
| 13 | Imperial College Business School | London | United Kingdom | Imperial College Business School | MSc Finance |
| 14 | ESCP Europe | Paris | France | ESCP Europe | Advanced Master in Finance |
| 15 | Toronto | Toronto | Canada | Rotman School of Management | Master of Financial Risk Management |
| 16 | WU Vienna University | Vienna | Austria | WU Vienna University | Quantitative Finance |
| 17 | EMLyon Business School | Lyon | France | EMLyon Business School | MSc in Finance |
| 18 | Esade Business School | Barcelona | Spain | Esade Business School | MSc in Finance |
| 19 | Warwick Business School | Coventry | United Kingdom | Warwick Business School | MSc Finance |
| 20 | McGill | Montreal | Canada | Desautels Faculty of Management | Master of Management in Finance (MMF) |
| 21 | EDHEC Business School | Roubaix | France | EDHEC Business School | Master in Finance |
| 22 | University of St.Gallen | St. Gallen | Switzerland | University of St.Gallen | Master of Arts in Banking and Finance |
| 23 | Peking University | Shenzhen | China (Mainland) | Peking University HSBC Business School | Master in Finance |
| 24 | WHU | Koblenz | Germany | WHU Otto Beisheim School of Management | Master of Science in Finance |
| 25 | Erasmus | Rotterdam | Netherlands | Rotterdam School of Management | Master of Science in Finance & Investments |
| 26 | Manchester | Manchester | United Kingdom | Alliance Manchester Business School | MSc Finance |
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Next, let’s talk about the curriculum for finance degrees, including the MS in Finance.
Course curriculum for an MS in Finance
Each university will have different syllabi for their MS in Finance programs. Also, the same university may have a different curriculum for different “streams” of the same course. This is so that you can specialize in an area, for better prospects after your finance degree.
Below is (a general guide on) what you can expect to study as part of your MS in Finance courses abroad:
| Core Areas of Study | Topics Covered |
| Practical and Experiential Learning | Action learning projects, finance labs, field courses, real-world financial problem-solving |
| Emerging and Innovative Topics | Fintech, blockchain and cryptocurrencies, venture capital finance, strategic equity finance, sustainable investing |
| Corporate Finance | Fundamentals of corporate finance, financial operations, corporate restructuring, corporate financial strategy, advanced corporate finance |
| Financial Analysis and Valuation | Financial statement analysis, discounted cash flow valuation, pricing theory, valuation of firms and projects, real estate valuation |
| Macroeconomics and Global Economy | Macroeconomic policy, global economic environment, international financial markets, economic policy in global markets |
| Investment Management and Markets | Investment management, capital markets, portfolio management, securities, financial instruments, trading strategies |
| Regulation and Ethics in Finance | Finance ethics and regulation, corporate governance, fiscal crises, shareholder activism |
| Risk Management and Derivatives | Financial derivatives, risk management practices, financial engineering |
| Quantitative and Analytical Methods | Financial mathematics, analytics of finance, data science for finance, financial engineering, quantitative methods |
| Specialized Finance Areas | Energy finance, healthcare finance, real estate finance, distressed investing, ESG and impact investing |
Please note that no one program covers all the topics here — you’ll most likely have a selection from the ones above. And with the curriculum for an MS in Finance covered, let’s talk about the entry requirements for the program.
Eligibility for an MS in Finance
Just like with the curriculum, each university will have a different take on the requirements for entry to an MS in Finance. However, certain basic requirements will be common to most programs, which we’ve listed below:
- You must have a bachelor’s degree from an accredited institution.
- Some programs require work experience, typically ranging from 1 to 3 years.
- Minimum GPA requirements vary, but a competitive GPA is often necessary.
- Some programs require GMAT or GRE scores.
- Non-native speakers need TOEFL or IELTS scores to demonstrate English proficiency.
- Usually, two or three letters of recommendation are required, preferably from professional references.
- Applicants also need to submit a personal statement. This should outline their career goals and reasons behind wanting to pursue an MS in Finance.
- Some programs may require an interview as part of the admissions process.
And with the eligibility done, let’s talk about competitive exam scores — specifically the GMAT and the GRE.
GMAT/ GRE requirements for studying an MS in Finance
At the outset, note that outside of banking finance degrees, GRE and GMAT scores are not usually compulsory. Of course, this also depends on your target institution. For instance, HEC Paris requires GMAT scores for a complete application, but Texas McCombs does not.
However, understand that while a university may not require GMAT or GRE scores for an MS in Finance program, you can still submit them. For instance, people who are looking to “pivot” to finance from other non-quant fields (like the arts) usually submit GMAT scores. Or, people who don’t have the best undergraduate GPA may also benefit from submitting GMAT or GRE Quant scores.
With that said, it is possible to get into an MS in Finance degree without the GMAT or GRE. The caveat is that you either have prior finance experience, or a quantitative undergraduate degree.
And now that we’ve talked about the entry requirements and exams, let’s go over the options you have for financial aid.
Scholarships to study an MS in Finance abroad
The cost of studying for an MS in Finance degree abroad can be quite expensive. That is why most students look for some form of financial aid to study their chosen course. To that end, certain general scholarships can provide some help towards the cost of your degree. Some examples are:
| Source | Scholarship Type | Details |
| Inlaks Shivdasani Foundation | Overseas Scholarships | Awards scholarships to young Indians for full-time Master’s programs at top global institutions. |
| J. N. Tata Endowment | Loan Scholarships | Provides loan scholarships for Indian students pursuing postgraduate studies abroad. |
| Tata Trusts | Merit and Need-Based | Offers scholarships for Indian students for higher education both in India and internationally. |
| Government of India | Various | Various scholarships offered by the Indian government ministries and bodies for studying abroad. |
| Aga Khan Foundation | Need-Based | Offers scholarships to outstanding students from developing countries for postgraduate studies abroad. |
However, these scholarships are quite saturated, receiving lakhs and lakhs of applications for an ever-reducing number of awards. That is why the major source of funding for finance degree opportunities is from the universities themselves. Most universities have their own funding programs that are usually open to international students as well. Some examples of these are given below:
| University | Aid Details |
| MIT | MIT Sloan offers fellowships and assistantships based on academic excellence and professional promise. All candidates admitted to the MBA program are considered for these awards without the need for a separate application for most. |
| Bocconi University | Offers a range of merit-based scholarships and need-based financial aid for international students. Scholarships are awarded automatically to the most outstanding applicants upon admission. |
| UCLA | UCLA Anderson offers merit and need-based scholarships to its MBA candidates. These are considered automatically upon admission. International students may also explore external scholarships and fellowships provided by private organizations. |
| ESSEC Business School | Provides merit-based scholarships and need-based financial aid. International students are automatically considered for scholarships upon admission and can also apply for various external scholarships. |
| Harvard University | Offers need-based financial aid and merit scholarships. All admitted students are automatically considered. Specific programs also exist for international students, including loan programs that do not require a co-signer. |
Note: Scholarships are great to reduce your financial burden, however, most students still need education loans to cover the rest of the expenses. When you find the best education loan, you can save lakhs of rupees with low interest rates. That’s where FundRight comes in, connecting you with 15+ top lenders so you can compare offers and secure an education loan with the best terms.
And now, with the financial aid out of the way, let us look at the career paths after an MS in Finance abroad.
Career scope of an MS in Finance
MS in Finance graduates often find employment in the following industries:
- Corporate Finance
Manage company finances, plan budgets, and find ways to increase profits. They also help in making big financial decisions and ensuring the company stays financially healthy.
- Investment Banking
Help companies raise money, advise on buying or merging with other companies, and manage large investment portfolios. They play a crucial role in the financial growth of businesses.
- Asset Management
Oversee investments for individuals and organizations. They focus on growing wealth while minimizing risks, making sure investments are safe and profitable.
- Financial Planning
Develop financial strategies for individuals and businesses. They help clients plan for the future, manage their money, and achieve financial goals like saving for retirement or buying a home.
Apart from the above, graduates can also work in non-conventional industries like the following:
- Technology
Help tech companies manage finances, analyze financial data, and make investment decisions, supporting innovation and growth.
- Healthcare
Manage financial operations in hospitals, clinics, and other healthcare organizations, ensuring they run efficiently and profitably.
The diverse skills acquired through an MS in Finance make graduates valuable across various sectors. Now, let’s explore the top companies that actively recruit MS in Finance graduates.
Top recruiters after an MS in Finance
Below are some examples of companies that frequently recruit graduates of MS in Finance courses:
- Corporate Finance: General Electric, Johnson & Johnson, Procter & Gamble, Coca-Cola, IBM, PepsiC
- Investment Banking: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America Merrill Lynch, Citigroup, Barclays
- Asset Management: BlackRock, Vanguard, Fidelity Investments, T. Rowe Price, PIMCO, State Street Global Advisors
- Financial Planning: Charles Schwab, Edward Jones, Ameriprise Financial, Raymond James, UBS, Wells Fargo Advisors
- Technology: Google, Apple, Microsoft, Amazon, Facebook, Intel
- Healthcare: Pfizer, UnitedHealth Group, Merck & Co., Abbott Laboratories, Medtronic, Amgen
Job prospects and salaries offered after studying MS in Finance
The job data below is sourced from the class profiles of the top 5 universities on the QS list for an MS in Finance. The salary data is sourced from Glassdoor and ZipRecruiter.
| Job Title | Average Salary |
| Financial Analyst | $79,141 |
| Investment Banker | $105,000 |
| Risk Manager | $112,000 |
| Financial Planner | $95,000 |
| Asset Manager | $120,000 |
| Corporate Finance Manager | $110,000 |
| Portfolio Manager | $120,000 |
| Overall Average Salary | $105,877 |
Remember that with a few years of experience, these figures could increase by a lot. Overall, the opportunities after an MS in Finance degree open up a world of possibilities.
And with that, we come to the end of this guide on the MS in Finance abroad. We hope you found it useful, and we’ll see you in the next one.
Frequently Asked Questions
1.Why should you study an Accounting and Finance degree?
Studying for an Accounting and Finance degree provides a solid foundation in both financial theory and practical accounting skills. This combination equips you with the ability to analyze financial statements, manage budgets, and understand the financial health of organizations. It also opens up diverse career opportunities in fields such as auditing, taxation, and corporate finance, making you a versatile candidate in the job market.
2.What is a Business Finance degree?
A Business Finance degree focuses on the financial management of businesses. It covers topics such as financial planning, investment analysis, and capital management. The degree aims to develop skills in managing financial resources, making strategic financial decisions, and understanding the financial implications of business operations. Graduates are prepared to work in various roles, including financial analyst, financial manager, and investment advisor.
3.What are the benefits of a Finance degree such as an MS in Finance?
An MS in Finance offers advanced knowledge and specialized skills in financial analysis, risk management, and investment strategies. It enhances your analytical and quantitative abilities, making you proficient in financial modeling and decision-making. The degree also provides a competitive edge in the job market, often leading to higher salary prospects and opportunities for career advancement in sectors such as investment banking, asset management, and corporate finance. Additionally, it lays the groundwork for professional certifications like CFA or CPA, further boosting your credentials and career opportunities.
4.How does an MS in Finance differ from an MBA in Finance?
An MS in Finance is a specialized program focusing deeply on finance-related subjects such as financial analysis, quantitative methods, and investment strategies. It is ideal for those who want to build a career specifically in finance. On the other hand, an MBA in Finance includes a broader business education, covering areas like management, marketing, and operations, along with finance. This makes it suitable for individuals aiming for leadership roles that require a broader understanding of business operations.
5.How long does it take to complete an MS in Finance?
The duration of an MS in Finance program typically ranges from 12 to 18 months for full-time students. Part-time programs may take longer, usually around 2 to 3 years, depending on the course load and schedule. Accelerated programs are also available at some institutions, allowing students to complete their degree in a shorter timeframe.
