Overview
Master’s in Finance, popularly known as MFin, is a post-graduate degree awarded by the universities to students planning their careers in financial management, investment analysis, corporate finance, and financial analysis. A typical Master’s in Finance program comprises core courses like economics, financial theory and markets, corporate accounting, and investment management. In addition, universities around the globe are offering Masters’s in Finance programs.
Conventional Master’s in Finance programs prepare students for a breakthrough in their careers by introducing them to the primary business and financial concepts and principles. However, students aiming to study while working and looking after their families can opt for an online master’s in Finance. The course structure for this program caters to the needs of mid-career professionals aiming to progress in their careers or switch their fields altogether. And also the detailed Masters in Finance program focuses primarily on the fundamentals of managerial finance and quantitative financial management methods. In addition to this, students get to learn more advanced topics like portfolio management, managerial economics, mergers and acquisitions, financial modeling, financial engineering, financial economics, stock market analysis, etc.
Why should you study master’s in Finance?
The growing importance of finance and managing financial instruments and records are indispensable. So, the need for financial management and finance-related jobs cannot be disposed of so easily. A Master’s in Finance degree will provide you with the advanced skills and knowledge required for any finance professional. Now, let’s explore why you should pursue a Master’s in Finance degree.
- Finance is pervasive: A finance department is require everywhere in any organization or institution. The type of industry you work in does not matter, as every company must have a finance department to evaluate the company’s financial performance. Maintaining cash flow statements, distributing dividends, reinvesting surplus reserves for product innovation, preparing balance sheets and profit & loss accounts. These are a part of the mundane job responsibilities of any finance professional.
- Building Quantitative Proficiencies: Most financial calculations require computational skills. So, people pursuing a Master’s in Finance will automatically develop excellent quantitative and analytical skills. Therefore, people having strong computational and analytical skills usually stand out. Moreover, employers desire candidates with strong analytical and problem-solving skills. So, candidates aiming for managerial positions must possess a strong analytical ability to understand financial calculations.
- A journey towards becoming a solid problem solver: Being a finance professional, you need to master MS Excel and other finance-related software like tally, SAP, Oracle, ERP, and others. Analyzing financial data and computations to derive actionable business solutions to critical problems enriches finance professionals with problem-solving skills. Turning quantitative data into actionable insights to solve business problems is a valuable skill in demand.
- Extensive Curriculum: Master’s in Finance program covers several core subjects like stock exchange analysis, business management, investment banking, financial management, and risk management.
- Variety of Job Roles: Master’s in Finance graduates can work in both public as well as private sectors. They get to choose from a variety of job roles such as budgetary examiner, risk manager, financial analyst, corporate banker, investment banker, hedge fund manager, personal financial advisor, etc.
Read the article: Bachelors Study in Canada – A Comprehensive Guide
Prerequisites for Masters in Finance
- Students require an excellent grip on mathematical tools, econometrics & statistical applications, and programming languages, depending upon the specialization they choose.
- A Student choosing to work in the stock exchanges might require some basic coding skills in C and C++ programming languages.
- Students focusing on market research must be well equipped with computational and management tools like MATLAB software.
- A Student having a bachelor’s degree in business and STEM fields can easily understand the complexities of financial computations and make it a prerequisite for Masters’s in Finance program.
- Students must have exceptional communication skills. The proficiency of communication skills must be supported by IELTS/TOEFL/PTE or any other English proficiency exams.
- Students must give the GMAT/GRE exam to get admission to top universities around the world and they must score reasonably high in these exams owing to the high competition.
- And also students must have practical knowledge of computational tools like Risk Statistics, Probability, Operational Optimization, Economic Theory
Top 5 universities to study Masters in Finance globally
- HEC Paris: This world-renowned university offers MSc in International Finance with a program duration of 10 months. After graduating around 93% got jobs at top companies with an average annual salary of $135,873. During the program, students can choose from unique specializations,i.e., Corporate Finance and Capital Markets. Students choosing corporate finance specialization can build their careers in Mergers and Acquisitions, consulting, private equity, and large multinational corporations. On the other hand, students from capital markets specialization can choose to work in trading, market analysis, corporate structuring, and wealth and asset management companies.
- ESCP Europe: This prestigious European university offers a Specialised Master in Finance program with a 13-month program duration. Around 99% of ESCP graduates got placed at top-notch companies earning an annual average salary of $111,341. For a total of 15 weeks, this program provide at two ESCP campuses. After 8 weeks of the fundamental courses in finance, students can choose their field of specialization; Corporate Investment Banking and Financial Markets. Additionally, students must complete a 4-month internship and present a professional thesis in front of a jury.
- EDHEC Business School: This business school in France offers a 15-month MSc in Finance program. A finance graduate from EDHEC can earn around $104,552 per annum. Around 90% of finance graduates got good placement opportunities. Thus, this program is apt for students who want to build a career in International Finance. Students can choose from subjects like Asset Pricing, Financial Accounting & Analysis, Portfolio Management, Corporate Finance, and Quantitative Techniques in Finance.
- Skema Business School: This business school offers an 18-months MSc Financial Markets and Investments program. Finance graduates from Skema can earn up to $87,764 per year. And also this program provides students with expert knowledge in areas like trading, sales, risk management, investment advisory, and structuring finance.
- ESSEC Business School: This business school in France offers a 13-month MSc Financial Markets and Investments program. Around 93% of graduates got placed at top finance companies, earning an annual average salary of $109,917. Students can choose to get to choose unique electives like Commodity Markets, Real-Estate Finance, Business Analysis and Value creation.
Conclusion
Master’s in Finance is a competitive program so students must be abreast with all the pre-requisites essential to meet the admission criteria for top business schools. Working in the finance domain can get you a handsome salary package around the world. So, go ahead and plan your career in finance.
