Why Pursue Masters in Finance in the 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.

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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

University	QS Subject Rankings 2022	Courses Offered	Course Duration	Application Deadline	Tuition Fees
University of Oxford	4th	MSc in Financial Economics MSc in Taxation	9 months	Intake: September	£52,560
University of Cambridge	6th	Masters in Finance	12 months	31st May	£68,668
London School of Economics and Political Science	7th	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 School	11th	Masters in Finance Masters in Financial Analysis	10 to 16 Months	August	£52,200
University of Manchester	18th	MSc in Financial Managment	12 months	31st 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 – 

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	Minimum % Required in Bachelors	English Language Proficiency (ELP)
University of Oxford	87% overall	IELTS: 7.5   TOEFL: 110
Imperial College of London	75% overall	IELTS: 7.0   TOEFL: 100
University of Cambridge	75% overall	IELTS: 7.5   TOEFL: 110
University of Manchester	60% overall	IELTS: 7.0   TOEFL: 100
University of Warwick	60% overall	IELTS: 6.5   TOEFL: 90
University of Edinburgh	60% overall	IELTS: 7.0   TOEFL: 100
University of Bristol	60% overall	IELTS: 6.5   TOEFL: 88
University of Glasgow	60%	IELTS: 6.5   TOEFL: 88
The University of Liverpool	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
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.

Expenses	Cost per month
Rent (for 1 bedroom flat)	500 GBP
Council Tax	125 GBP
Other Utilities	200 GBP
Travel Cost (via public transport)	55 GBP
Mobile Phone Plan	40 GBP
Other Costs (food, internet, groceries, etc.)	250 GBP
Total Monthly Cost	1170 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.

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.

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