Masters in Finance in UK is one of the most popular courses for international students. UK has some of the top-ranked universities of the world offering Masters in Finance degrees like the University of Oxford, University of Cambridge, Imperial College of London. MS in Finance in UK prepares students to evaluate and optimize assets and financial resources. To secure admission in Masters in Finance in UK an international student requires an average academic score of 60% along with GMAT scores. 

The average tuition fee for MS in Finance in UK ranges between 23,000 GBP to 47,000 GBP which is around 21,38,135 INR to 43,69,235 INR for an Indian student. With recruiters like Goldman Sachs, JP Morgan, and Google employing finance graduates from UK universities, international students can secure high-paying jobs in UK. Depending on the role you take up, salaries for a fresher can range from 49,000 GBP to 111,000 GBP Per Year.

Top Universities for Masters in Finance in UK

When planning to study abroad an international student's priority is to study at any of the most reputed institutes. According to the QS World University Ranking for Accounting and Finance of 2022, the following are the top universities offering Masters in Finance in UK along with their application deadlines.

University Program Offered Application Deadline
University of Oxford MSc in Financial Economics 8 March 2023 (October)
University of Cambridge Masters in Finance 16 May, 202330 June, 2023
Imperial College of London MSc Finance 16 May, 2023
University of Edinburgh MSc Finance Round 4: 26 April 2023
Round 5: 7 June 2023
University of Manchester MSc Finance 3 March 2023 (October)
London School of Economics and Political Science MSc Finance 27 April 2023
University of Bristol MSc Finance and Investment 31 July 2023
University of Warwick MSc Finance 02 August 2023
University of Glasgow MSc Finance & Management May 7, 2023
University of Sheffield MSc Finance 31 July 2023

Click here and check out more than 120 Universities in UK for Finance!

Why Study Masters in Finance in UK

  • According to the Financial Times in 2022, around 91% of the graduates from the Master of Finance have been employed within 3 months of graduation. 
  • UK has some of the top-ranked universities of the world offering Master in Finance degrees like the University of Oxford, University of Cambridge, Imperial College of London.
  • The top 3 companies in the UK employing people in the finance sector are Goldman Sachs, JP Morgan, and Google.
  • Accroding to Institute for Fiscal Studies, U.K. Finance Worker Pay has currently (2022) spiked 31% Since Start of Covid Pandemic. The salaries of accounting and finance employees increased by 8% from 2016 to 2019.

Also Check: UK-India Knowledge Partnership Suggested to Increase Indian Students in the UK

Masters of Finance in UK Program Details

The most common degree available for master's in finance and any other finance specialization course is the Master of Science (MSc) or MFin. The course curriculum of most of the universities for Masters in Finance in UK is designed as follows:

  • Foundation Modules: The foundation modules contain topics that will help understand the basics and main financial instruments like debt, equity, financial derivatives, concept of market efficiency, portfolio risk, and diversification. Also, information about important techniques of statistics and probability is included in this. This module will be very helpful for students who are not from a financial background.
  • Core Modules: The core module introduces challenging topics like Corporate Finance, Derivatives, Ethics & Professional Standards in Finance, Financial Econometrics, Investments, and Portfolio Management, Macro-Finance, Mathematics for Finance.
  • Electives: The elective courses are tailored to meet the career ambitions and match the interests of the students. Some of the key electives are: Advanced Corporate Finance, Applied Trading Strategies, Advanced Options Theory, Asset Allocation & Investment Strategies, Banks, Regulations & Monetary Policy, Credit risk, Fixed Income Securities, Macroeconomics & Finance for Practitioners, Introduction to Quantitative Investing 
  • Projects: This course also provides some projects to enable the integration of theory and practice.

Masters of Finance: Program Highlights

Number of Universities 127
Duration 9 months to 1 year
Average Tuition Fees 23,000 GBP - 47,000 GBP (21,45,496 INR  -43,84,275 INR)
Intake Month July
Job Positions Financial Analysts, Commercial or Investment Bankers, Stock, Insurance or Real Estate Broker, Economist, etc.
Top recruiting companies Goldman Sachs, JP Morgan, Google, Morgan Stanley, BlackRock, HSBC, UBS, Barclays, Citi, Bank of America Merrill Lynch
Average Salaries 115,000 GBP

Masters of Finance in UK Admissions

Applications for MS in Finance in UK are mostly accepted for the intake in September. Students are required to have a bachelor's degree in finance or a related field to apply in UK universities. The basic admissions process for pursuing master's in finance in UK has been described in the sections below. Applicants must note that some of the required scores and documents are generic; hence, they should always visit the university website before preparing their application package. 

Masters in Finance in UK Documents Required

While filling out the application form, some of the supporting documents should be uploaded to successfully apply for Masters in Finance in UK:

  • Mark sheets of 10th, 10+2, and all semesters of the bachelor's degree.
  • Scorecard for English language tests like IELTS, TOEFL or Duolingo
  • Scores of standardized exam scores like GMAT or GRE
    • Average GMAT: 680 | Average GRE: 325
  • References from the last institute/current institute attended or from the workplace. 
  • 2-year experience in core finance or finance-related roles (in some institutes internships are also considered)
  • CV containing all personal information, academic qualification, work experience, expertise, etc.
  • Essay of not more than 500 words, explaining the purpose of choosing this course and this institute and how will the course help in developing a better future

Also Check: 

Sample of SOP for UK Sample of LOR for UK

Masters in Finance in UK Admission Eligibility

Master of Finance in UK admission requires a bachelor's degree in any discipline preferably commerce, accounting and mathematics. The eligibility requirement varies depending upon the university you apply to. Mentioned below are the academic and english language requirement for top universities offering MS in Finance in UK:

University Minimum % Required in Bachelor English Proficiency Score
University of Oxford 87% overall IELTS: 7.5
TOEFL: 110
University of Cambridge 75% overall IELTS: 7.5
TOEFL: 110
Imperial College of London 75% overall IELTS: 7.0
TOEFL: 100
University of Edinburg 60% overall IELTS: 7.0
TOEFL: 100
University of Manchester 60% overall IELTS: 7.0
TOEFL: 100
University of Bristol 60% overall IELTS: 6.5
TOEFL: 88
University of Warwick 60% overall IELTS: 6.5
TOEFL: 90
University of Glasgow 60% IELTS: 6.5
TOEFL: 88

Masters in Finance in UK: Cost of Study

While applying for an international institute, there are various types of expenses that should be taken care of like the pre-arrival cost, tuition cost, living cost, etc. IT is always helpful for an international student if they are familiar with the expenses they will incur. This helps in planning ahead and giving an estimate to the students about the overall costs they may have to spend. 

Tuition fees for the Masters in Finance in UK range from 23,000 to 47,000 GBP. The University of Cambridge has the highest annual tuition fee of 47,125 GBP. The tuition fees of University of Sheffield is the lowest ie. 23,750 GBP. The range of pursuing Masters in Finance in UK for Indian students is around 23 lakhs to 47 lakhs. When a student invests this much amount of money on their education, high returns are expected to flow in quickly. Given below is a graph comparing the cost of study at some of top finance colleges in UK : 

Tuition Fees for Masters in Finance in UK

University Total Program Fees in GBP Total Program Fees in INR
University of Oxford 52,560 48,89,656
University of Cambridge 51,000 47,44,530
Imperial College of London 39,000 36,28,170
University of Edinburgh 34,700 32,28,141
University of Manchester 32,000 29,76,960
London School of Economics and Political Science 39,984 37,19,711
University of Bristol 32,700 30,42,081
University of Warwick 38,250 35,58,397
University of Glasgow 29,370 27,32,291
University of Sheffield 26,200 24,37,386

Cost of Living in UK

The average monthly cost of living in the UK for international students is 1300 to 1500 GBP. The following table provides a general estimate of living expenses. It should be noted that your cost of living in UK will vary highly depending upon the choice of accommodations, lifestyle, and various other factors.   

Particulars Average monthly Cost in GBP Average monthly Cost in INR
Rent 760 to 1,350 60,999 INR to 1,08,355 INR
Food 230 18,347 INR
Mobile Phone & Internet 85 6,850 INR
Stationery Items 50 3,669 INR
Clothing & Laundry 115 9,180 INR
Transportation (Monthly Pass) 75 5,974 INR
Miscellaneous 50 3,669 INR

Masters in Finance in UK with Scholarships

Universities of UK and other agencies provide financial aid to students in the form of scholarships, awards, and bursaries. Pursuing Masters in Finance in UK can be cumbersome for international students. Some of the scholarships for international students in UK that can help in reducing the expenses are given below:  

University Scholarship Amount Offered in GBP
Imperial College of London MSc Finance Future Leaders Scholarship 35,900
University of Edinburgh Business School International MSc Scholarship 4,000 - 10,000
University of Manchester Alliance MBA Masters Scholarships for UK/ EU/ International Students Full tuition fees
London School of Economics and Political Science Graduate Support Scheme; LSE Master's Award 5,000 - 15,000 depending on financial need
University of Bristol Global Accounting and Finance Scholarship 5,000
University of Warwick WBS Scholarships 25 - 50% of the tuition fees
University of Glasgow Adam Smith Business School Scholarship 10,000
The University of Sheffield International Merit Postgraduate Scholarship 25% of the tuition fees
University of Cambridge MFin Program Scholarship 5,000 - 25,000
University of Oxford Alumni Annual Fund Scholarship 10,000
Oxford Said - HEC Montreal Scholarship 53,000

Master of Finance graduates can build their careers in financial management or insurance to commercial banking and hedge funding. Making a career in the finance sector is quite challenging but the salary packages are quite good depending on the experience, position, and industry. The average person working in the UK in the field of accounts and finance usually earns a salary of around 115,000 GBP. Salary increases up to 32% experience of up to 2 - 5 years.

Masters in Finance in UK Placements

Job Profiles Average Annual Salary (GBP) Average Annual Salary (INR)
Finance Manager 64,627 60.12 lakhs
Financial Director 72535 67.47 lakhs
Financial Controller 57,012 53.03 lakhs
Banking Operations 37,135 34.54 lakhs
Senior Financial Analyst 45,961 42.75 lakhs
Associate Portfolio Manager 66,656 62.01 lakhs
Financial Analyst 38,282 35.61 lakhs
Risk Analyst 45,351 42.19 lakhs

MS in Finance Top Recruiters

Master of Finance graduates from universities and business schools in the UK often get employed by some of the top recruiting companies in UK. Mentioned below are the top recruiting companies in UK along with the average salaries they offer to MS in Fiancne graduates

Sector Recruiters Average Starting Salary in GBP Per Year
Professional Services EY, PwC, Deloitte, KPMG 90,000
Retail Banking and Building HSBC, Barclays, Lloyds Banking Group 80,000
Investment Banking Morgan Stanley, Deutsche, JP Morgan 75,000
Insurance Admiral Group, Aviva, Allianz, AXA, Prudential 72,000

With starting salary packages like these and a two year stay-back on the visa, UK assures a postgraduate in finance a bright future. Masters in Finance in UK is a degree catering to motivated meritorious graduates planning to make a career as financial leaders. UK has a lot to offer to a maters in finance aspirant, including short duration of the program, high returns on investment, relatively a cheaper degree, etc. For applicants who are interested in pursuing Masters in Finance in UK, one thing can be guaranteed, that it will not leave you empty-handed. 

FAQs

Ques. Which country is best for pursuing a master's in finance?

Ans. As per QS World University Rankings, United Kingdom tops the list for the best countries for pursuing master's in finance. Followed by USA, as another top study destination for the program, UK tops the list because of the Oxford Said Business School which makes it to the top of QS Top Universities for Finance rankings.

Ques. How much do masters of finance degree cost in UK?

Ans. Masters of finance degree will cost you around 23,000 GBP to 47,000 GBP. Though this is only the tuition fees for pursuing the program. Additionally, international students will require around 1500 GBP a month to live in UK. The overall cost will be around 41,000 GBP to 65,000 GBP for a one-year master's program in finance. 

Ques. Does a master of finance degree pay off?

Ans. A master's of finance in UK can help you earn as much as 251,000 GBP annually. The salary package of finance graduates from some of the top universities offering the program ranged between 68,000 GBP to 111,000 GBP. Your salaries will highly vary from the choice of firm, graduating from university, previous industry exposure, and such factors. 

Ques. What is the eligibility for Masters in Finance in UK?

Ans. For applying to Masters in Finance in UK, an applicant requires an average of 75%in bachelors, IELTS score of 6.5 or TOEFL score of 90, 2 years work experience, and GRE scores (not mandatory).  

Ques. Is work experience mandatory for pursuing Masters in Finance in UK?

Ans. Though having work experience is not a qualifying requirement to enter the master of finance courses in UK, but having one can be a great deal breaker. Work experience, internship, or any exposure to the industry additionally add to the value of your application.