The United Kingdom (UK) is a pioneer in higher education, especially when it comes to financing and business. For finance and commerce students, Masters in Finance in the UK can be an excellent way to kick start their career. It is a one-year course that provides an insight into the finance sector while developing analytical skills. Therefore, getting a master’s degree in finance from the UK can ensure an aspiring candidate secure a promising job in the field.
The UK houses some of the best universities globally, which offer high-quality education with practical exposure. There are many scholarship programs available to meet the expense of these universities.
The cost of living in the UK can be made affordable. The country allows international students to work part-time during their course duration. There is a lot of student support available in the country.
The UK’s degrees are recognized worldwide. A degree from any top UK university opens doors to global workspace and opportunities.
English is a universal language, and the students do not face a language barrier in the UK. The student community in the UK is welcoming. The people in the UK are friendly and respect all the traditions and cultures.
The University of Liverpool, University of Oxford, University of Cambridge, Imperial College of London, etc.
Jobs
Financial Analysts, Equity Research Analyst, Investment Banker, Insurance, Fund manager, etc.
Top recruiters
Goldman Sachs, Morgan Stanley, JP Morgan Chase, BlackRock, Barclays, CitiGroup, etc.
Average Salary
INR 1,14,50,000 (115,000 GBP)
Why study Master’s in Finance in the UK?
The reasons why students should pursue masters in finance in the UK are –
The UK has some of the most prestigious colleges and universities that offer masters in finance degrees, such as the University of Oxford, University of Cambridge, Imperial College of London, University of Liverpool, etc.
Many companies, banks, investment banks, hedge funds and mutual fund houses, AMCs, etc., hire people with masters in finance. For example, top recruiters in the UK are Goldman Sachs, Morgan Stanley, JPMorgan Chase, Citigroup, Credit Suisse, etc.
Masters in finance salary in the UK is constantly increasing.
Year
Salary
2016
103,000 GBP (INR 1,02,55,013)
2017
106,000 GBP (INR 1,05,53,703)
2018
108,000 GBP (INR 1,07,52,829)
2019
110,000 GBP (INR 1,10,51,519)
Admissions for Master’s in Finance in the UK
The UK universities generally start accepting the admission application for Masters in Finance around September.
Eligibility Criteria for a master’s degree in finance in the UK are:
Bachelor’s degree in finance, accounts, or any other degree related to finance.
Some universities want students to have mathematics and statistics proficiency
The scores required in the entrance exams to study in the UK.
The average GMAT score required is around 680
The average GRE score required is 325
English Language Proficiency (ELP).
The points mentioned above are generic requirements and can vary from college to college and course to course. You must visit the college or university website before preparing your application.
IELTS: 6.5(With a minimum of 6.0 in each component)
Documents Required for Masters of Finance in the UK
Mark sheets of class 10th and 12th.
Mark sheets of all semesters of your bachelor’s degree
Scorecard for English Language Proficiency (ELP) tests like TOEFL, IELTS and PTE.
Scorecard of entrance exams like GMAT or GRE.
References from the last college/university attended or current college/university. Or if you have work experience, then reference from the workplace.
Some universities require students to have some professional experience. Two years of work experience in any core finance or finance-related job.
CV containing all personal information, academic qualification, Skills & competencies, work experience, expertise, etc.
Essay of about 500 words, where you have to explain why you have chosen this course and this college/university and explain why and how this course will help you develop a better future.
Cost of MS in Finance in the UK
If you plan to pursue your education abroad in the UK, you will have to incur various expenditures. These include pre-arrival and post-arrival costs, travel expenses, tuition fees, rent, food, internet, groceries, and other living expenses, etc.
Pre-arrival costs
Pre-arrival costs include various expenses that a student must pay before arriving in the country. These expenses may include the cost of the application form of the institute, application fees of the exams like GMAT or GRE, English language tests like TOEFL or IELTS or PTE, UK student visa registration fees, and others.
Pre-Arrival Expenses
Cost
Application Fees
50 to 120 GBP
Visa Application Fees
348 GBP
IELTS Registration Fee
150 GBP
IELTS Registration Fee
140 GBP
GMAT application fees
194 GBP
GRE application fees
159 GBP
Tuition Fees for Master’s in Finance in the UK
The tuition fees for the masters in finance in the UK are around 23,500 GBP to 47,000 GBP . The annual tuition fee of the University of Cambridge is 47,125 GBP which is the highest. And the annual tuition fee of the University of Sheffield is 23,750 GBP, which is the lowest.
Return on Investment
When you invest that much money in your education, you expect high returns in the form of a high salary.
University
Tuition Fees
MS Finance Salary
University of Oxford
45,000 GBP
1,11,162GBP
(INR 1,10,67,648)
University of Sheffield
23,750 GBP
68,696 GBP
(INR 68,39,596)
University of Cambridge
47,125 GBP
1,07,916 GBP
(INR 1,07,44,466)
University of Warwick
35,500 GBP
81,140 GBP
(INR 80,78,561)
University of Edinburgh
31,350 GBP
86,820 GBP
(INR 86,44,080)
University of Bristol
29,600 GBP
81,140 GBP
(INR 80,78,561)
Living costs in the UK
The monthly average living cost in the UK for international students is around 1170 GBP. The costs mentioned below are just average costs. Your monthly expenses depend on your choice of lifestyle, accommodation and location.
Many universities and colleges in the UK provide scholarships to international students. These financial aids can help you to reduce your overall expenses.
University
Scholarship
Amount Offered
University of Manchester
Alliance MBS Masters Scholarships for International students
Full tuition fees
Imperial College of London
MSc Finance Future Leaders
35,000 GBP
University of Cambridge
MFin Program Scholarship
5,000 – 25,000 GBP
London School of Economics and Political Science
LSE Master’s Award
5,000 – 15,000 GBP
University of Edinburgh
Business School International MSc Scholarship
4,000 – 10,000 GBP
University of Glasgow
Scholarship: Adam Smith Business School
10,000 GBP
University of Bristol
Global Accounting and Finance Scholarship
5,000 GBP
University of Warwick
WBS Scholarships
25 – 50% of your tuition fees
University of Sheffield
International Merit Postgraduate
25% of your tuition fees
University of Oxford
Oxford Said – HEC Montreal Scholarship
53,000 GBP
Alumni Annual Fund Scholarship
10,000 GBP
Job opportunities in the UK after MS in Finance
Masters in finance graduates can earn exceptional salaries due to the high demand for finance professionals. Masters in finance graduates can get jobs in an investment bank, hedge fund and mutual fund house, commercial bank, shadow bank, etc.
Sector-wise expected average salary –
Sector
Employers
Annual Average Salary
Hedge Funds
Capula Investment Management LLP, Man Group, Brevan Howard Asset Management
Trader Salary – 1,34,971 GBP
Portfolio Manager – 2.59.356 GBP
Investment Banks
Morgan Stanley, JP Morgan Chase, BlackRock, etc
75,000 GBP
Commercial and Retail Banks
Barclays, Royal Bank of Scotland Group, Lloyds Banking Group
80,000 GBP
Insurance
Axa, AIG Europe, Liberty Mutual Insurance Europe, etc.
75,000 GBP
Professional Services
RSM, Smith & Williamson, Moore Stephens, Deloitte, KPMG, PwC
90000 GBP
Job wise expected average salary –
Jobs
Annual average salary
Portfolio Manager
250,000 GBP
Financial Analyst
125.000 GBP
Fund Manager
160,000 GBP
Trader in Hedge Fund
130,000 GBP
Private Equity Analyst
126,000 GBP
Investment Banker
75,000 GBP
Financial Analyst
126,000 GBP
Finance Officer
129,000 GBP
The UK is a service-dominated economy where the service sector contributes more than 70% of the total GDP of the nation. Masters in Finance graduates can have great career opportunities in the UK. With increasing credit growth and decreasing interest rates, retail money has started to flow heavily in hedge funds, mutual funds, private equity firms, venture capital firms, etc. This inflow of retail money has increased the demand for many financial analysts, fund managers, portfolio managers, traders, investors, research analysts, etc.
Disclaimer: All course fees and salaries are approximate amounts subject to change depending on various conditions.
According to the QS World University Rankings 2022, the University of Oxford is ranked number 2, University of Cambridge ranked number 3, Imperial College London ranked number 7, etc. According to this data, the UK is one of the best countries to pursue a master’s degree in finance.
Is finance a good career in the UK?
Finance is a good career and essential for an economy to succeed. The finance sector also pays good salaries to the employees. For example, you can earn 250,000 GBP (INR 2, 48,90,810) p.a. as a portfolio manager in a hedge fund.
Do international students get jobs in the UK?
There are plenty of job opportunities in the UK. The companies recruit high-performing international students and pay them well. The UK practices a culture of inclusiveness. Hence, all the opportunities are available to international students.
Is an MSc degree in Finance from the UK Recognized in India?
Currently, a master’s in finance from the UK is not recognized in India because UK universities offer a one-year post-graduate program. In contrast, Indian universities offer 2 years post-graduate programs.
What are the subjects in MBA finance in the UK?
Subjects in MBA finance in the UK are Corporate Finance, Investments and Valuation, Portfolio Management, Macro-Finance, Accounting for Managers, Topics in Banking and Finance, Finance for Managers, Strategic Analysis of Business, etc.
What are the best universities to study finance in the UK?
The best universities to study for Masters in Finance in the UK are:
1. University of Oxford 2. University of Cambridge 3. Imperial College of London 4. London School of Economics 5. University of Warwick 6. University Of Liverpool
Neha Uppal is a passionate content creator and editor. She carries 7.5+ years of experience working with leading edutech companies where she worked as a Faculty, Community Manager, and Content Marketeer. At upGrad, she is helping out people keep informed about the scopes and opportunities of studying abroad via informational articles/blogs.
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