Master in Finance In UK
In recent years, globalisation has taken place significantly, affecting every section of society, be it any individual or organisation, as it has led to the integration of financial markets, allowing for more cross-border investments and capital flows. UK universities, known for their high academic standards, have taken this seriously and launched various courses to train tomorrow’s young investors and financial professionals.
In this blog, we have presented detailed information on the Master’s in Finance in the UK along with top UK universities offering them, including their rankings, fees, application process and more.
- Master’s in Finance in the UK: Introduction
- Top 5 Reasons to Pursue M.Sc in Finance in the UK
- Top Universities in the UK for Master’s in Finance
- Master’s in Finance in the UK: Popular Specialisations
- Master’s in Finance in the UK: Course Structure & Subjects
- M.Sc in Finance in the UK: Eligibility Criteria
- M.Sc in Finance in the UK: Required Documents
- Master’s in Finance in the UK without GMAT
- Career Opportunities after Pursuing Master’s in Finance in the UK
- How to Apply for Master’s in Finance in the UK?
- Conclusion
- FAQs
Master’s in Finance in the UK: Introduction
A Master’s in Finance course is a 1-2 years graduate finance program that imparts knowledge and understanding of money, financial assets, and investments. It provides an arena where an individual who desires to pursue a career in accounts and Finance can gain expertise in money management skills.
The M.Sc in Finance course is designed to cater to the needs of the global economy, where there is a requirement for professionals who can understand financial theories and analysis to provide assistance to institutions in planning and implementing economic policies more effectively.
Top 5 Reasons to Pursue M.Sc in Finance in the UK
The UK is one of the top European countries which are prioritised by thousands of Indian students every year to pursue business, finance and management courses because of the following reasons:
Top Class Universities: The UK is the home to the world’s best universities, such as the University of Cambridge, University of Oxford, Imperial College, etc., which are known for their expertise in teaching financial education by providing the best academic standards.
This helps students apply what they have learned in real-world scenarios. The QS world university ranking 2024 includes 10 UK universities in the top 50 institutes list providing Masters in Finance courses.
Higher Employment Rate: According to the Financial Times, approximately 90% of the graduates found employment within 3-6 months after concluding their M.Sc in Finance program. The UK universities provide a sense of independence to the students to pursue their dream careers after completing their programs.
Global Financial Hub: The economy of the UK is a highly developed social market economy, which is the 6th largest in the world by GDP and the 9th largest in the world by purchasing power parity. London is the main centre of financial activities, housing the stock exchange, with a market capitalisation of over $4.3 trillion as of 2023.
Destination of Top Financial Institutions: In the UK, London houses approximately 500 institutions with offices for insurance, banking, foreign exchange, energy trading etc. A few of their examples are CitiGroup, Barclays Bank, HSBC, etc. Leeds and Edinburgh are the other major UK cities favourable for the financial sector and related services.
Second Home for Indian Students: The UK is considered as the second home to Asians, particularly Indians, Pakistanis, Bangladeshis, etc., whose cultures and traditions are almost similar to each other. This does not make students feel homesick or alone when they study and take part in extracurricular activities together. Almost half of the total Asian population in the UK consisted of Indian students.
Top Universities in the UK for Master’s in Finance
As of 2024, The QS world university ranking 2024 includes 10 UK universities in the top 50 institutes list providing Masters in Finance courses. Times Higher Education has listed 7 UK universities, and the US News & World Report has listed 6 UK universities in their respective top 50 global institutes that provide education in M.Sc in Finance and related courses. Below, we have listed the top UK universities providing M.Sc in Finance courses, including their respective QS ranking, specialisations, and annual tuition fees.
| University | Course | QS Master in Finance Ranking (2024) | Tuition Fee |
|---|---|---|---|
| Said Business School (University of Oxford) | M.Sc in Financial Economics | 1 | GBP 55,630 |
| London Business School | M.Sc in Financial Analytics | 3 | GBP 47,500 |
| Cambridge Judge Business School (Cambridge UK) | Master of Finance | 6 | GBP 55,080 |
| London School of Economics | M.Sc in Finance | 8 | GBP 44,928 |
| Imperial College Business School London | M.Sc in Finance | 13 | GBP 45,400 GBP 46,900 (Extended work placement option) |
| Warwick Business School | M.Sc in Finance | 19 | GBP 41,750 |
| Alliance Manchester Business School | M.Sc in Finance | 26 | GBP 34,500 |
| University of Edinburgh Business School | Master in Finance | 29 | GBP 39,500 |
| Lancaster University Management School | M.Sc in Finance | 34 | GBP 31,500 |
| Durham University Business School | M.Sc in Finance | 36 | GBP 32,750 |
Master’s in Finance in the UK: Popular Specialisations
Following are the some of the top speacialisations which Indian students study about in their entire academic curriculum while pursuing the Master’s in Finance in the UK. These specialisations are the part of both core module and optional module, depending on the university:
Corporate Finance: Corporate Finance deals with studying financial planning and management within the corporates, including capital structuring, funding strategies, and mergers and acquisitions.
Investment Banking: This specialisation teaches students the basics of the functioning of equity, debt, and derivatives markets. It also deals with the study of facilitating the buying and selling of securities and other financial instruments.
Financial Technology (FinTech): Financial technology is one of the fastest-growing fields. It involves the study of integrating technology with financial services to innovate and improve products and services such as blockchain cryptocurrencies, digital payment, big data and analytics, etc.
Quantitative Finance: It involves using a mathematical modelling system, statistical system, and computational tools to analyse the financial markets. This specialisation helps identify, analyse, and mitigate the risks associated with financial investments.
International Finance: The international finance specialisation deals with financial transactions across international territories, such as foreign investments, currency exchange, global financial markets, etc.
Risk Management: This specialisation teaches students about the analysis, identification, and mitigation of financial risk to ensure the stability and sustainability of financial institutions and corporations.
Master’s in Finance in the UK: Course Structure & Subjects
In any given intake, the master’s in finance courses in the UK is a 1-2 years full-time intensive study program whose duration may vary depending on the institute. The credit corresponding to the program holds 120 UK credits for theory subjects, whereas 60 UK credits for dissertation work.
It includes approx 1800 hours of classroom study, assignment and project work. Below, we have provided the structure and syllabus of the M.Sc in Finance course. It should be noted that it might also vary depending on the university or business school.
Foundational Coursework
Some universities like Imperial College London provide foundational coursework to fresher students so that they can understand the financial sciences before heading for the main course. The foundational coursework offers 4-5 options of subjects, out of which students can choose any one of them. Some general subjects in the foundational coursework are:
Foundations in Finance (Business Valuation): Exploration of accounting and corporate valuation tools.
Foundations in Finance (Markets & Securities): It provides the introduction to securities trading, pricing and investment.
Foundations in Finance (Financial Modelling): It provides the understanding of probability theory and review matrix algebra and statistics.
Core Modules
The core moduled include the mandatory subjects required for semesters 1 and 2. Depending on the university, students must complete 5-7 core modules throughout the program. Core modules can include the following:
- Accounting
- Corporate Finance
- Financial Econometrics
- Investment & Portfolio Management
- Financial Mathematics
- Macro Finance
- Ethics in Finance
- Accounting & Financial Analysis
- International Financial Market
- International Banking
- Quantitative Methods for Finance
- Treasury Management
- Assest Pricing
- Cross Sectional Econometrics
- Economics
- Data Analytics for Finance
- Financial Reporting & Analysis
Optional Modules
The optional module includes the optional subjects that can be chosen for semester 3, depending on interest and motivation. Students can take 4-5 optional subjects, which the university offers. Optional module can include the following:
- Behavioural Finance
- Portfolio Investment
- Current Issues in Financial Markets
- Derivative Securities
- Management Accounting
- Equity Analysis
- Financial Modelling
- Credit Risk
- Asset Allocation and Investment Strategies
- Blockchain and Applications
- Climate Finance
- Entrepreneurial Finance
- Innovation and Strategy in FinTech
- Wealth Management
- Sustainable Finance
- International Finance & Exchange Rates
- Digital Assets
Research Project
The research project work can be chosen independently. Still, before this work, research project classes are usually conducted to demonstrate to students the basis for the project work, the nature of research work in finance and the writing and structuring of research reports. These classes are not to be evaluated, but attendance is compulsory. In some UK universities, there are various types of project work, such as:
Equity Research Project: Students prepare presentations and write a report of about 3,000 words regarding the investment potential, buying or selling a company, assessing equity, etc. It is conducted in a group.
Consulting Project: This includes preparing a group project report on desired roles or sectors by applying ideas from the financial sciences.
Individual Project: The student collaborates with the faculty supervisor to create and present a dissertation on the allotted topics.
The project report generally includes:
- Case Study and Literature Review
- Financial Analysis of an Organisation
- Applying the tools and techniques of Financial Economics
M.Sc in Finance in the UK: Eligibility Criteria
Following are the general entry requirements for the Master’s in Finance in the UK at top business schools. The specific eligibility criteria depend on the institute.
- A bachelor’s degree in any field, particularly 3-5 years long, with a minimum grade of A or 70-75% from the government-recognised institute.
- Some UK universities accept the applications of those students who have completed their undergraduate programs in institutes like IITs, IIMs, the University of Delhi, the University of Mumbai and the University of Calcutta, where the marking system is tough to get 70%. In this case, the minimum grade should be B or 55%.
- Candidates should have a minimum GRE score of 270-300 (depending on the university, as some institutes don’t require a GRE score).
- Candidates should have a minimum GMAT Focus score of 565-655 (depending on the university, as some institutes don’t require a GMAT score).
- Candidates should be proficient in the English language and must hold any of the language proficiency test certificates:
- TOEFL: A minimum score of 100-110 out of 120 is required
- IELTS: A minimum band score of 6.5-7.5 out of 9.0 is required
- PTE: A minimum score of 65-75 out of 90 is required
- Duolingo: A minimum score of 120-135 out of 160 is required
- Depending on the university, applicants should have scored at least 85% in the English subject in the Class XII examination to showcase their English language proficiency.
M.Sc in Finance in the UK: Required Documents
Below, we have provided the checklist of required documents to gain admission to the Master’s in Finance in the UK. They may vary depending on the institute and specific eligibility criteria.
- Completed university application form
- Previous academic degrees, certificates, mark sheets and transcripts (Bachelor’s program and Class XII)
- GRE/GMAT Scorecard (if applicable)
- Language Proficiency Test scorecard (TOEFL/IELTS/PTE/Duolingo etc.)
- 1 CV or Resume
- 1 Statement of Purpose/2-3 Essays
- 1-2 Letters of Recommendation
- University application fee of GBP 60-120 or INR 6,483-12,967 (depending on the institute)
- Passport
Master’s in Finance in the UK without GMAT
Most UK universities do not need to submit the GMAT Focus score while applying for the Master’s in Finance courses. We have listed some of them as follows:
- University of Cambridge
- Imperial College London
- University of Manchester
- University of Liverpool
- University of Glasgow
- University of Durham
Career Opportunities after Pursuing Master’s in Finance in the UK
As described in former sections, the UK offers abundant opportunities to pursue a career in the accounts, finance, and marketing field after completing an M.Sc in Finance. The financial market holds significant value in providing opportunities to graduates in several sectors. The average salary of a Master’s in Finance graduate ranges from GBP 27,000-87,000 or INR 29 Lakh-94 lakh per year, depending on the employer, experience, area, job post, etc.
| Job Title | Average Salary (Per Year) |
|---|---|
| Financial Analyst | GBP 31,000-51,000 (INR 33 Lakh-55 Lakh) |
| Investment Banking Analyst | GBP 48,000-69,000 (INR 51 Lakh-74 Lakh) |
| Risk Manager | GBP 42,000-74,000 (INR 45 Lakh-80 Lakh) |
| Financial Consultant | GBP 29,000-51,000 (INR 31 Lakh-55 Lakh) |
| Asset Manager | GBP 38,000-65,000 (INR 41 Lakh-70 Lakh) |
| Financial Advisor | GBP 27,000-55,000 (INR 29 Lakh-59 Lakh) |
| FinTech Specialist | GBP 28,000-46,000 (INR 30 Lakh-49 Lakh) |
| Private Equity Analyst | GBP 46,000-69,000 (INR 49 Lakh-74 Lakh) |
| Portfolio Manager | GBP 49,000-87,000 (INR 53 Lakh-94 Lakh) |
How to Apply for Master’s in Finance in the UK?
For pursuing an M.Sc in Finance program in the United Kingdom in any study intake, applicants should start preparation at least one year before the onset of the course and follow the below steps:
- Start researching by listing down the preferred universities according to priority.
- Explore each institute’s details, descriptions, and requirements through their official websites.
- Prepare and arrange all the necessary documents, as listed above, well in advance.
- Select at least 6-7 universities and start applying for the program.
- Complete the application process by filling the required details and uploading the documents.
- Pay the application fee.
- Review and submit.
- Students can expect a response from the university in 2 weeks-3 months.
- The university will provide interview dates if the application is accepted.
Conclusion
To sum up, a master’s in finance course provides the gateway for gaining an understanding of financial markets and investment. Today, when commercialisation and industrialisation have occurred, it is essential to know about strategic money management, which could help small and large organisations align their goals with the current trend. Considering these, UK universities are leaving no stone unturned in providing overseas students with better education and research facilities to enhance their capabilities in reaching their goals.
FAQs
How many years can I stay in the UK after my master's?
Overseas students can stay for upto 2 years after completing their master’s program with the help of a graduate visa. To extend your stay, you must switch to a skilled worker visa.
What is the GMAT score for an MSc in Finance at London Business School?
The GMAT score for pursuing the MSc in Finance program at London Business School should be around 700, with a typical class range of 600 to 800.
Who are the popular employers in the field of Finance?
After completing the Master’s in Finance in the UK, Indian students can find relevant employment in top multinational companies like Barclays, PwC, EY, HSBC, Deloitte, KPMG, Natwest Group, etc.
Is GMAT required to pursue a Master’s in Finance in the UK?
No, most universities, such as the Imperial College London, University of Manchester, University of Liverpool, University of Glasgow, University of Durham etc, don’t required GMAT score for granting admission into M.Sc in Finance.
Is there any entrance exam that needs to be attempted before applying for a Master’s in Finance in the UK?
Apart from GMAT/GRE, no separate entrance exam is conducted by any UK university to admit students into their M.Sc in Finance courses. The only way universities accept admission is through their website, where applicants can apply for the program directly.
If you are an aspirant looking to study at your dream university, book an appointment with AdmitX today and start your applications early to avail yourself of all the benefits.
