The Master of Finance is a Postgraduate degree awarded by Universities or Graduate Schools.

Schools prepare students broadly for careers in Finance, Risk Management, Investment Management, and Investment Banking. It is a popular graduate business degree after the MBA. The degree is often titled Master in Finance (abbreviated M.Fin., MiF, MFin), or Master of Science in Finance (MSF in North America, and MSc in Finance in the UK and Europe).

Top Master in Finance programs are in Europe such as HEC Paris, ESCP Business School, and ESSEC Business School. MIT Sloan School MiF program in the US and Singapore Management University program underlies the increasing popularity of these programs in the Americas and Asia. Interestingly, many of the first MiF programs in France, such as HEC Paris and ESCP Business School, were set up by French chambers of commerce in order to create the next generation of leaders in the financial industry.

Compared to specialized Masters, MFin is second to none in the path to top jobs at the world’s leading financial institutions. At HEC Paris, the world’s best Master in Finance program according to the Financial Times, companies like Goldman Sachs, JP Morgan, and BlackRock ranks among the top employers of MiF graduates. The same goes for top-ranked programs like MIT Sloan in the US and Shanghai Advanced Institute of Finance in China, which act as stepping stones to financial hubs like Wall Street or the Shanghai Stock Exchange.

Career prospects for an MFin graduate are very wide in terms of business sectors and functional roles. Business sectors include Banking, Consulting, Asset Management, Investment Funds, Industry (Energy, telecom, ICT, etc.), and others. Scope of functional roles span from Corporate Finance, Portfolio Management, Investment Banking, M&A, Transactional services, Trading, Investment research, Accounting, Audit to Risk management.

Furthermore, among specialized master’s programs, Masters in Finance graduates earn some of the highest salaries. The Corporate Recruiters Survey by the Graduate Management Admission Council (GMAC) found the median starting salary for US MiF graduates to be $80k.

Salary Ranking of Top Schools in Finance (Source: Financial Times):
Masters in Finance pre-work experience 2021

Pre-work experience Master in Finance programs is meant for students who recently passed out of undergrad program and wish to make a career in Finance, and very young professionals (1 to 2 years of work experience) who want to further increase their specialization in finance and improve their career prospects.

Salary Ranking of Top Schools in Finance (Source: Financial Times):
Masters in Finance post-work experience 2021

Post-work experience Master in Finance programs are meant for experienced finance
professionals (2 to 5 years of work experience) who would like to update their financial toolset and enhance their professional network.

In terms of the cost of the program, MS in Finance program is relatively costly compared to other MS programs. However, being usually a 1-year program, MFin is cheaper than an MBA. European programs like the Master of International Finance at HEC Paris come in at $37,350 in tuition, London Business School Master in Finance tuition fee is GBP 52,200 while US MiF programs like that at MIT Sloan cost $82,150(12 months) and $113,700 (18 months).

For those looking to shore up their job prospects, and strengthen their employability, a Master in Finance is sure to be a good investment.

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