Why pursue Masters in Finance in the UK?

masters in finance in uk

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.

Why choose the UK for a Master’s Program?

  • 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.

Top Ranking Universities for Master’s in Finance in the UK

Top ranking universities in the UK for masters in finance are:

  • University of Oxford (M.Sc Financial Economics- master of finance ranking 1 )
  • University of Cambridge (Master of finance ranking 6)
  • Imperial College of London
  • London Business School(M.Sc Financial Analysis- master of finance ranking 4)
  • London School of Economics (M.Sc Finance- master of finance ranking 8)
  • University of Warwick
  • University Of Liverpool

Program Highlights

Post-graduation courses finance include:

  • Master of Science (MSc)
  • Masters in accounting and finance in the UKMSc Accounting, MSc Accounting, and Finance
  • MSc Quantitative Finance
  • Masters of Business Administration (MBA)
  • Financial Law 
  • Corporate Law

The course duration is between 9-24 months, depending on the institution and type of course.

The Masters of Finance course curriculum in the UK is – 

Module Topics and Subjects

Foundation Modules

Investments and Valuation
Security Analysis
Financial Derivatives
Efficient-market hypothesis
Portfolio risk and risk management
Diversification
Statistics
Probability

Core Modules

Corporate Finance
Derivatives
Ethics & Professional Standards in Finance
Financial Econometrics
Investments and Portfolio Management
Modern Portfolio Theory
Macro-Finance
Mathematics for Finance.

Electives

Advanced Corporate Finance
Applied Trading Strategies
Advanced Options Theory
Asset Allocation & Investment Strategies
Banks, Regulations & Monetary Policy
Credit risk
Fixed Income Securities
Macroeconomics and Finance for Practitioners
Introduction to Quantitative Investing
Projects In this course, you will have to do some projects to learn theories and their practical applications.

Master’s in Finance in the UK – Program Features

Number of Universities and Colleges in the UK Over 100
Course Duration 9 Months to 24 Months
Average Course Fees INR 23,00,000 – INR 47,00,000 (23,500 – 47,000 GBP)
Top Universities 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. 
  1. The average GMAT score required is around 680
  2. 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. 

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Masters in Finance in the UK: Eligibility

University Application Deadline Minimum % Required in Bachelors English Language Proficiency (ELP)
University of Oxford Stage 1: November 1 87% overall

IELTS: 7.5

TOEFL: 110

Imperial College of London January 15 75% overall IELTS: 7.0

TOEFL: 100

University of Cambridge May 31 75% overall

IELTS: 7.5

TOEFL: 110

University of Manchester Round 4: June 30 60% overall IELTS: 7.0

TOEFL: 100

University of Warwick July 31 60% overall

IELTS: 6.5

TOEFL: 90

University of Edinburgh June 10 60% overall IELTS: 7.0

TOEFL: 100

University of Bristol July 31 60% overall

IELTS: 6.5

TOEFL: 88

University of Glasgow Not fixed 60% IELTS: 6.5

TOEFL: 88

The University of Liverpool November/December 60.0% 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 (INR 4,978 – INR 11,947)
Visa Application Fees 348 GBP (INR 34,648)
IELTS Registration Fee 150 GBP (INR 14,934)
IELTS Registration Fee 140 GBP (INR 13,938)
GMAT application fees 194 GBP (INR 19,315)
GRE application fees 159 GBP (INR 15,830)

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 (INR 23,39,736) to 47,000 GBP (INR 46,79,472). The annual tuition fee of the University of Cambridge is 47,125 GBP (INR 46,91,917) which is the highest. And the annual tuition fee of the University of Sheffield is 23,750 GBP (INR 23,64,627), 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 (INR 44,80,345) 1,11,162GBP     

(INR 1,10,67,648)

University of Sheffield  23,750 GBP (INR 23,64,626)

68,696 GBP 

(INR 68,39,596)

University of Cambridge 47,125 GBP (INR 46,91,917) 1,07,916 GBP 

(INR 1,07,44,466) 

University of Warwick 35,500 GBP (INR 35,34,495)

81,140 GBP 

(INR 80,78,561)

University of Edinburgh 31,350 GBP (INR 31,21,307) 86,820 GBP 

(INR 86,44,080)

University of Bristol 29,600 GBP (INR 29,47,071)

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 (INR 1, 16,488). The costs mentioned below are just average costs. Your monthly expenses depend on your choice of lifestyle, accommodation and location.

Expenses Cost per month
Rent (for 1 bedroom flat) 500 GBP (INR 49,781)
Council Tax 125 GBP (INR 12,445)
Other Utilities 200 GBP (INR 19,912)
Travel Cost (via public transport) 55 GBP (INR 5,475)
Mobile Phone Plan 40 GBP (INR 3,982)
Other Costs (food, internet, groceries, etc.) 250 GBP (INR 24,890)
Total Monthly Cost 1170 GBP (INR 1,16,488)

Scholarship Option Available

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 (INR 34,84,713)
University of Cambridge MFin Program Scholarship 5,000 – 25,000 GBP 

(INR 4,97,816 – 

INR 24,89,080)

London School of Economics and Political Science LSE Master’s Award

5,000 – 15,000 GBP

(INR 4,97,816 – INR 14,93,448)

University of Edinburgh Business School International MSc Scholarship 4,000 – 10,000 GBP

(INR 3,98,252 – INR 9,95,632)

University of Glasgow Scholarship: Adam Smith Business School  10,000 GBP (INR 9,95,632)
University of Bristol Global Accounting and Finance Scholarship 5,000 GBP (INR 4,97,816)
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 (INR 52,76,851)
Alumni Annual Fund Scholarship 10,000 GBP (INR 9,95,632)

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 (INR 1,34,38,150)

Portfolio Manager – 2.59.356 GBP 

(INR 2,58,22,323)

Investment Banks Morgan Stanley, JP Morgan Chase, BlackRock, etc 75,000 GBP (INR 74,67,242)
Commercial and Retail Banks Barclays, Royal Bank of Scotland Group, Lloyds Banking Group 80,000 GBP (INR 79,65,059)
Insurance Axa, AIG Europe, Liberty Mutual Insurance Europe, etc. 75,000 GBP (INR 74,67,242)
Professional Services RSM, Smith & Williamson, Moore Stephens, Deloitte, KPMG, PwC 90000 GBP (INR 89,60,691)

Job wise expected average salary –

Jobs Annual average salary
Portfolio Manager 250,000 GBP (INR 2,48,90,809)
Financial Analyst 125.000 GBP (INR 1,24,45,404)
Fund Manager 160,000 GBP (INR 1,59,30,118)
Trader in Hedge Fund 130,000 GBP (INR 1,29,43,221)
Private Equity Analyst 126,000 GBP (INR 1,25,44,968)
Investment Banker   75,000 GBP (INR 74,67,242)
Financial Analyst 126,000 GBP (INR 1,25,44,968
Finance Officer 129,000 GBP (INR 1,28,43,657)

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.

FAQs

Q1. Is the UK good for a master’s in Finance?

A. 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.

Q2. Is finance a good career in the UK?

A. 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.

Q3. Do international students get jobs in the UK?

A. 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.

Q4. Is an MSc degree in Finance from the UK Recognized in India?

A. 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.

Q5. What are the subjects in MBA finance in the UK?

A. 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.

Q6. What are the best universities to study finance in the UK?

A. 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

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