Masters in Finance or M.Fin. or MSc in Finance is a highly lucrative post graduate course for students who want to make a successful career in the field of Finance. Masters in Finance covers up all the topics and areas of finance while giving a little weightage to management as well. This program is also considered to be an equivalent to an MBA.
The program focuses on areas such as investment management, corporate finance, investment banking and analysis. This program is more doable as you can pursue it even if you don’t have any prior work experience.
Structure of the Course
The structure of the course may vary from university to university, but some core courses are there in all the universities.
These core courses are:-
- Economic Foundations of Finance
- Corporate Financial Accounting
- Equity Valuation
- Principles of Finance
- Financial Reporting and Analysis
- Finance Ethics and Regulation
- Fundamentals of Credit
Apart from these core courses, university also offer some students to choose among some electives, such as:-
- Entrepreneurial Finance and Venture Capital
- Investment Management
- Advanced Corporate Finance
- Healthcare Finance
- Financial Data Science and Management
- Advanced Data Analytics and Machine Learning in Finance
To be eligible for the M.Fin. program, following are the requirements that you must fulfill:-
- Bachelor’s Degree with strong GPA
- Internship experience (Optional)
- Proficiency in english language
- Good GMAT score as per the university requirement
Here is a list of the documents that you will require while applying for MFin. Program in different universities:-
- Transcripts of University
- Score of IELTS/TOEFL
- GRE/GMAT Score
- Statement of Purpose (SOP)
- Letters of Recommendation (LOR)
- Identity Certificates (Passport, Photographs, etc.)
One thing to keep in mind is that these are some documents that are essentially required, but these are not the only one required. For other requirements it suggested that you visit the university’s website for further details.
Fees Structure and duration of the program
Masters of finance is a postgraduate course and it may vary anywhere between 12-24 months. Although some part time courses may be even longer, but this is the maximum limit. Also, different universities have different duration of their program. Some programs may be just 10 month long. Masters in finance in Europe can be one of the best thing if you are applying for studying abroad.
The fees of the program varies from university to university. There are several factors that play a key role in determining the fees of the program. The type of university also determines what the fees can be, for example; a public university may charge less fees, while private universities may have a costly fees structure.
The fees for the masters of finance program may range from $50,000 to $75,000.
Job prospects and average salary
Finance in itself is a very vast field with various opportunities and roles for the individuals. And after Masters in Finance, there are way more opportunities that are open for a graduate.
Some of the high paying roles after completion of masters in finance are:-
- Investment Banker
- Financial Analyst
- Investment Manager
- Portfolio Manager
- Equity Research
- Stock Broker
And many more, these jobs are just the tip of an iceberg, there are way more options.
The employment rate of the program is also high at 98%. 95% fresh graduates get a well paying job after 3 months of graduation and almost 84% of the graduates have multiple options to choose from.
You can expect a salary of $84,000 at the entry level and this can go upto $97,000 within the first 3 years of employment. Also the salary may fluctuate depending upon the role as well specialization of the individual.
As I have mentioned before, there are various roles for an individual in the field of finance. Also there are various key factors that you should consider while choosing finance as a career.
Do check various top programs of different universities before applying in a single one, do check programs of various universities and their websites for information such as application deadlines, fees etc.