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Why Pursue Masters in Finance in the UK?

Updated on 26 March, 2024

Neha Uppal

Neha Uppal

Sr. Content editor

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.

Interested to Study In UK? Apply for Free Counselling

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

Top ranked 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
UniversityQS Subject Rankings 2022Courses OfferedCourse DurationApplication DeadlineTuition Fees
University of Oxford4th
  • MSc in Financial Economics
  • MSc in Taxation
9 monthsIntake: September£52,560
University of Cambridge6th
  • Masters in Finance
12 months31st May£68,668
London School of Economics and Political Science7th
  • MSc in Finance
  • MSc in Finance(Part-time)
  • Masters in Finance & Private Equity
  • Masters in Finance & Economics

Full time: 10 months 

 

Part time: 21 months

April£19992 to £ 39984
London Business School11th
  • Masters in Finance
  • Masters in Financial Analysis
10 to 16 MonthsAugust£52,200
University of Manchester18th
  • MSc in Financial Managment
12 months31st October £32,000

Source: Official University Websites

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Program Highlights

Post-graduation courses finance include:

  • Master of Science (MSc)
  • Masters in accounting and finance in the UK–MSc 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 – 

ModuleTopics 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
ProjectsIn 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 UKOver 100
Course Duration9 Months to 24 Months
Average Course FeesINR 23,00,000 – INR 47,00,000 (23,500 – 47,000 GBP)
Top UniversitiesThe University of Liverpool, University of Oxford, University of Cambridge, Imperial College of London, etc.
JobsFinancial Analysts, Equity Research Analyst, Investment Banker, Insurance, Fund manager, etc.
Top recruitersGoldman Sachs, Morgan Stanley, JP Morgan Chase, BlackRock, Barclays, CitiGroup, etc.
Average SalaryINR 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.
YearSalary
2016103,000 GBP (INR 1,02,55,013)
2017106,000 GBP (INR 1,05,53,703)
2018108,000 GBP (INR 1,07,52,829)
2019110,000 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

UniversityMinimum % Required in BachelorsEnglish Language Proficiency (ELP)
University of Oxford87% overall

IELTS: 7.5

 

TOEFL: 110

Imperial College of London75% overall

IELTS: 7.0

 

TOEFL: 100

University of Cambridge75% overall

IELTS: 7.5

 

TOEFL: 110

University of Manchester60% overall

IELTS: 7.0

 

TOEFL: 100

University of Warwick60% overall

IELTS: 6.5

 

TOEFL: 90

University of Edinburgh60% overall

IELTS: 7.0

 

TOEFL: 100

University of Bristol60% overall

IELTS: 6.5

 

TOEFL: 88

University of Glasgow60%

IELTS: 6.5

 

TOEFL: 88

The University of Liverpool60.0%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 ExpensesCost
Application Fees50 to 120 GBP
Visa Application Fees348 GBP
IELTS Registration Fee150 GBP
IELTS Registration Fee140 GBP
GMAT application fees194 GBP
GRE application fees159 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.

UniversityTuition FeesMS Finance Salary
University of Oxford45,000 GBP

1,11,162GBP     

 

(INR 1,10,67,648)

University of Sheffield 23,750 GBP

68,696 GBP 

(INR 68,39,596)

University of Cambridge47,125 GBP

1,07,916 GBP 

 

(INR 1,07,44,466) 

University of Warwick35,500 GBP

81,140 GBP 

(INR 80,78,561)

University of Edinburgh31,350 GBP

86,820 GBP 

 

(INR 86,44,080)

University of Bristol29,600 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.

ExpensesCost per month
Rent (for 1 bedroom flat)500 GBP
Council Tax125 GBP
Other Utilities200 GBP
Travel Cost (via public transport)55 GBP
Mobile Phone Plan40 GBP
Other Costs (food, internet, groceries, etc.)250 GBP
Total Monthly Cost1170 GBP
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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.

UniversityScholarshipAmount Offered
University of ManchesterAlliance MBS Masters Scholarships for International studentsFull tuition fees
Imperial College of LondonMSc Finance Future Leaders 35,000 GBP
University of CambridgeMFin Program Scholarship5,000 – 25,000 GBP 
London School of Economics and Political ScienceLSE Master’s Award

5,000 – 15,000 GBP

University of EdinburghBusiness School International MSc Scholarship4,000 – 10,000 GBP
University of GlasgowScholarship: Adam Smith Business School 10,000 GBP
University of BristolGlobal Accounting and Finance Scholarship5,000 GBP
University of WarwickWBS Scholarships25 – 50% of your tuition fees
University of SheffieldInternational Merit Postgraduate 25% of your tuition fees
University of OxfordOxford Said – HEC Montreal Scholarship53,000 GBP
Alumni Annual Fund Scholarship10,000 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 –

SectorEmployersAnnual Average Salary
Hedge FundsCapula Investment Management LLP, Man Group, Brevan Howard Asset ManagementTrader Salary – 1,34,971 GBP

Portfolio Manager – 2.59.356 GBP 

Investment BanksMorgan Stanley, JP Morgan Chase, BlackRock, etc75,000 GBP
Commercial and Retail BanksBarclays, Royal Bank of Scotland Group, Lloyds Banking Group80,000 GBP
InsuranceAxa, AIG Europe, Liberty Mutual Insurance Europe, etc.75,000 GBP
Professional ServicesRSM, Smith & Williamson, Moore Stephens, Deloitte, KPMG, PwC90000 GBP

 

Job wise expected average salary –

JobsAnnual average salary
Portfolio Manager250,000 GBP
Financial Analyst125.000 GBP
Fund Manager160,000 GBP
Trader in Hedge Fund130,000 GBP
Private Equity Analyst126,000 GBP
Investment Banker  75,000 GBP
Financial Analyst126,000 GBP
Finance Officer129,000 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.

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FAQs

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

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

Sr. Content editor

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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