masters in finance abroad

Pursuing a master's degree in finance after a bachelor's confirms international students to land a bright job opportunity in financial management and analysis.According to the present Occupational Outlook Handbook of the U.S. Bureau of Labor Statistics, the demand for financial analysts will cultivate by 11% through 2026, faster than the average for all occupations.

The course is planned to equip international students with skills needed in a career like investment banking, management, corporate finance and others. Students will also learn more in-depth about data-driven subjects such as financial planning and rating, quantitative finance, investment banking, risk management, controlling and auditing. Furthermore, by pursuing MS or MBA in finance abroad, you can also go for PhD in financial engineering and contribute original research to the field.

Some international students are jumbled as to whether they should pursue an MSc in Finance or an MBA with a specialisation in finance. Both master’s degrees can lead you to job positions in investment banking and corporate finance. Below we have mentioned some of the best reasons why one should pursue a finance degree from abroad:

1. Get Global Finance Perspective

Students taking up MS in finance will get a global perspective of the subject. The finance master's program is designed keeping the international finance market in mind. Students will have practical experience on how the finance industry works.

2. Prepare for the Professional Career

The job market is very modest, and there are many qualified candidates. A Master’s in finance degree can aid you in getting a job in the field of finance or offer you the knowledge and skills to begin your own business. And start planning early in college so that you have time to discover which career and degree are most suited for you.

3. Learn to Apply Different Skills

When you are learning MS in finance, you will learn different skills you can apply in the professional area. Whether you are establishing your own company or working for a company, you can understand and apply concepts like profit and loss ratios, payroll administration, and other things in the process of finance management. With your accounting skills, you can use sheets and ledgers to manage your budget and expenses at home efficiently.

4. Highly Demanding Degree

Masters in finance are highly in demand among international students. Once you complete the course, you can move to PhD or any specialised course in finance. Although the masters in finance syllabus changes, the area remains almost similar.

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Top Countries to Pursue Masters in Finance

Some of the top countries where students can pursue Masters in Finance in abroad are:

• UK
• USA
• Canada
• Ireland
• Australia

Students, while pursuing a master's in finance, will spend learning practical computer software experience, attending lectures, and other methods. You will also have opportunities  to share your learning in seminars and work groups during MS in finance course. Let us check the course structure for the master's in finance.

MS in Finance Course Duration

MS in finance colleges globally offer this course with a duration of 1-2 years. Most countries also have placement options and paid internships for students participating in the program.

MS in Finance Core Courses Structure

Besides finance analysis and management, students through the course structure will be able to build leadership and communication skills. The core course structure involve:

• Investments
• Financial planning
• Insurance
• Commercial banking
• Trading
• The future of finance

There are many changes happening at the global financial level, and students need to stay prepared to adopt these changes. One way to understand the global financial level is to start with a master's degree in finance. Besides general subjects like accounting and financial modelling, the masters in finance syllabus include:

1. Quantitative Methods
2. Portfolio Management
3. Managerial Economics
4. Quantitative Finance
5. Computational Finance
6.  Private Equity

A typical MS in Finance program starts with solid core courses to build a strong groundwork in finance principles in quantitative methods, accounting, microeconomics, forecasting & risks analysis, financial analysis and valuation and more. The following specialisation available in the finance field are:

1. Asset Management
2. International Finance
3. Financial Management
4. Financial Engineering
5. Financial Markets

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The world is in continuous need of finance professionals, so your knowledge will always be in high demand. Studying a master's degree in finance means you'll need to be able to think accurately while confirming your communication skills are excellent as you coordinate and team up with your fellow cohort. Some of the skills required are:

1. Proficiency in Finance Software

The financial job includes using tools and popular spreadsheet software to a large extent. A financial expert should be proficient enough in software for managing projects, financial statements, and compliance. You must be well-versed in tax software if you plan to prepare taxes.

2. Problem Solving

Problem-solving skills are vital when dealing with the ups and downs of finance, so it is essential to have these skills while pursuing a master's in finance. Practise analysing industry trends, begin a solid grip on how mathematical principles can be used to avoid loss during stock falls and use your data to formulate comprehensive reports on your findings.

3. Able to Prepare Financial Statements

Financial statements represent the overall finance situation of the organisation. You should be able to prepare finance statements, and balance sheets before starting a new employment. These statements offer a regular view of the financial health of your firm.

4. Communication and Teamwork

In a business setting, you may need to give presentations to executive groups, which requires oral and written communication skills. With good communication and teamwork, you can take up challenges. These skills are essential in today's corporate working culture.

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Many colleges offer best masters in finance which is of 1-2 years course and is a full-time course taught in business schools and colleges abroad. We have listed below top countries and colleges offering masters in finance.

1. Top Universities for Masters in Finance in USA

There are hundreds of colleges and universities in the USA offering masters in finance with a duration of 1-2 years. Students get different subject options including finance, audit, management, etc under MSc and MBA in finance courses. These courses give a solid corporate exposure and are able to connect with top finance experts. The average annual fees for MS in finance in the USA is around USD 33,805.74- 75,045.50 (INR 27, 00,000- 60, 00,000) per year.

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2. Top Universities for Masters in Finance in UK

When studying MS in finance in UK, students will have a great learning experience. The duration of the course is around 1-2 years. Since the finance centre, London, is located in the UK, students will get excellent financial sector exposure. The curriculum covers theoretical learning as well as practical to get industry experience. Students will be prepared for different potential careers after completing their course. The annual fees to study masters in finance in the UK is around- (USD 17568- 37561.93- INR 14, 04,663- 30, 00,000) per year.

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3. Top Universities for Masters in Finance in Australia

Australia is known for its top-notch educational institutions offering masters in finance for international students. The duration of the course is around 1-2 years. Another element luring students to this nation is the standard of living there which is quite average compared to other countries. The average annual fees for the masters in finance Australia is around USD 22,000 - 55,661.58 (INR 18 lakhs - 47 lakhs) per annum.

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5. Top Universities for Masters in Finance in Canada

Students choose to complete their master's in finance in Canada because of the top learning experience. The duration of the course is around 1-2 years. It's an excellent country for students to live, learn, and work because of its easy visa application process and multicultural society. Masters finance in Canada is an in-demand course, with 30+ Canadian universities offering programs. A master’s degree in finance is called MSc or MA, depending on the university. The average annual fees for MS in finance in Canada is around USD 19,000 - 38,000 (INR 116 lakhs - 32 lakhs) per year.

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6. Top Universities for Masters in Finance in Ireland

Many of the Irish universities provide quality education in masters in Finance. The duration of the course is around 1-2 years.There are some top universities that offer quality course structure for students to get a practical and theoretical learning experience. The average course fees for masters in finance in Ireland is USD 15,000 - 37,522 (INR 12 lakhs - 31 lakhs) per year.

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International students wanting to pursue masters in finance courses in top colleges have to fulfil the eligibility criteria and provide important documents for admission. Here is an overview of the requirements to qualify for the MS in finance colleges.

1. Bachelor’s Degree
2. English Language Proficiency Test Scores
3. GRE/GMAT Scores
4. Work Experience
5. Passport & Student Visa

So, these are some of the basic requirements to study finance masters programs. Let know it in detail:

1. Bachelor’s Degree

It is the most common requirement international students need to fulfil for the admission process. Students need to have a bachelors’ degree in the field of finance or accountancy from a recognized university with 70-80% marks and the CGPA should be around 3.7. /4

2. English Language Tests Scores

IELTS, TOEFL, or PTE scores are yet another important requirement to pursue the masters in finance course. This is a crucial prerequisite that needs to be met for both visa and admission purposes. The language score required for admission are:

3. GRE/GMAT Scores

More and more international students are now seeking admission to masters in finance courses offered by top universities. International students must also submit their GMAT or GRE scores. To get into any good university, the recommended GMAT/GRE score required is:

• GMAT: 700
• GRE: 320
  

4. Work Experience

It is not a mandatory requirement needed by universities abroad. But some universities ask for minimum work experience of 2 to 3 years.

5. Passport & Student Visa

All overseas students who wish to enrol for the MS in finance at any university abroad must have a current passport and a student visa. Ensure to apply for your visa at least 3 months before the anticipated departure date.

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Admission to apply for the best masters in finance in the world requires a set of documents. Some of these important documents are mentioned below.

1. Education transcripts of previous institutions
2. Standardised test scores (GRE-GMAT)
3. Letter of Recommendation (1-2)
4. English Language Test Scores
5. Updated Resume or CV
6. Statement of Purpose
7. Valid Passport
8. Study Permit

As per the QS Ranking, around 156 institutes ranked among the world's best for master's in finance degrees in the newest ranking, including 57 in the US and 26 in the UK. These colleges or universities were measured on five metrics, including employability, thought leadership and worth for money. Here is a step-by-step guide to apply for MS in finance at top universities:

1. Find out the best universities and colleges that offer MS in finance subjects and programs.
2. Now you need to browse the university websites and collect all the information required for admission to these courses.
3. Submit all the documents such as test scores, transcripts, certificates, etc.
4. Fill out your application form with all the necessary details and pay the application fees.
5. After processing your application, you will be asked to attend an interview as a part of the admission process from the university.
6. Once you clear the interview, you will get your admission letter and you can book your seat at the college or university.
7. Pay your tuition fees and start your desired course at the university.

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Scholarships are a great assistance for students seeking masters in finance courses in any country. These grants help students to cover tuition costs and are offered under certain eligibility. Some of the scholarships offered by universities to pursue masters in finance-

1. UNIL Master’s Grants in Switzerland for Foreign Students- Switzerland

The scholarship is offered by the University of Lausanne in Switzerland for students wanting to pursue master’s courses in finance or any course at the university.

Scholarship Eligibility Criteria

• Not to have been recorded with UNIL in the past
•  Students need to have a bachelor's degree from any of the top universities and present a score  of the language level with at least B2 in French or English.

Amount: Monthly stipend of USD 1,594 (INR 1.3 lakh)

2. Hani Zeini Scholarship- USA

The scholarship is offered to international students who have a clear financial need and a willingness to pursue an inventive or entrepreneurial profession.

Scholarship Eligibility Criteria

• All students registered in an accredited college or university from any program may apply for the Hani Zeini scholarship.
• Hani Zeini scholarship students must comprise an 850-word maximum essay that discusses the main business challenges of the 21st century. 

Amount: USD 1,000 (INR 85,912)

3. Chevening Scholarships-UK

Chevening Scholarships is funded by the Foreign and Commonwealth Office (FCO) - targets the next generation of leaders, and opinion-formers early in their careers. It is also offered to students pursuing master’s courses in the UK.

Scholarship Eligibility Criteria

• Be a citizen of a Chevening-eligible country.
• Have at least 2 years (equivalent to 2,800 hours) of work experience.

Amount: USD 21,964 (INR 18 lakhs)

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When you apply for masters in finance courses, it is vital to have a clear  idea about the fees along with the cost of living. The overall masters in finance fees at the best universities can be divided into two categories: tuition fees and cost of living.

1. Tuition Fees

The masters in finance fees in most universities and colleges is around USD 43,779 - 75,000 (INR 37 lakhs - 64 lakhs) per year. In many public universities in countries like the UK, Italy or Germany, students are charged very less for the respective course. But in countries like the USA and UK, the master’s in finance fees is comparatively expensive.

2. Cost of Living

Besides tuition fees, students also need to bear the cost of living in their respective  country. On average, the cost of living that covers transportation, accommodation, food, and others is around USD 1000-2000 (INR 85,000 - 1.7 lakhs) monthly.

Finance is an occupational subject that can open many doors to several career opportunities worldwide, from financial management or insurance to commercial banking and verge funding. They can apply for jobs in different sectors such as accounting, communications, marketing, public relations, etc. Here are some job roles after MS in finance.

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Spending a semester abroad during your masters in finance studies is a life-changing experience you won't miss! United with the professionally challenging subject of finance, you will quickly treasure yourself in the sight of recruiters from well-known companies after graduation. To know more about MS in finance colleges, connect with our Yocket Professionals and clear your doubts easily.