Curious about our MSc in Finance? Recent graduate Federico and alumna Tina share their experience of the master's degree and how it has helped pave the way for their career and a successful future in finance.
Overview
Who is it for?
This programme is for you if you have a deep interest in finance, strong quant skills and the ambition to succeed in a high-pressure, high-reward industry. You’ll already hold the equivalent of a UK upper second degree, with skills in finance or quantitative methods.
You’re looking for a course that will prepare you for your career in global finance, in sectors such as hedge funds, financial services and investment banking. And you’re ready to make the most of the senior industry contacts and peer group networks you’ll make, while developing your business knowledge and learning advanced quantitative techniques.
I found that Bayes Business School had a lot to offer and was very welcoming to students with diverse backgrounds. A quick research of the Financial Times Masters in Finance ranking page finally convinced me to apply. I believe than on top of all the practical knowledge and understanding the global capital markets better, Bayes taught me how to position myself best in a workplace and how to go through interviews and build relationships with people from many different backgrounds.
Iryna Vushko
Objectives
On our post-graduate programme you’ll reinforce your existing knowledge of finance, corporate finance, accounting and econometrics before choosing electives that tailor your master’s in finance to your own skills, interests and ambitions.
You can specialise – in finance or corporate finance – or take the broader view. Develop new skills, from Python to data visualisation, or explore new areas such as behavioural finance and ethics. And expand your experience by choosing an international elective or study tour.
You'll learn from senior bankers and finance professionals as well as active researchers in finance, gaining a practical understanding of current issues alongside theories, tools and techniques that will equip you for your chosen career.
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Structure
What will you learn
On the Finance MSc postgraduate degree you will:
- Learn with one of the largest and most-respected faculties in the world, from staff who advise leading policy-making institutions.
- Gain exemptions from your CIMA and ACCA exams.
- Benefit from our researchers’ and guest speakers’ expertise in corporate finance, investment management and hedge fund management.
- Create a course to match your aims, choosing from an exceptionally rich offering of options in term 3, international electives in locations such as Madrid, Milan and New York and an optional study tour in term 2.
- Exploit our links to financial institutions close by in the City of London to build your network of professional connections.
Induction weeks
All of our MSc courses start with two compulsory induction weeks which include relevant refresher courses, an introduction to the careers services and the annual careers fair.
Term 1
Core modules:
Corporate Finance and Valuation
- 15 credits
- 3 hours per week in lectures
- 12 hours per week self directed study
The aim of this course is to introduce you to the field of corporate finance. This is achieved by familiarising you with the core theoretical principles and equipping you with the basic and most commonly used practical finance tools.
The material covered in this course is crucial for professional work in the area of corporate finance as well as for further study of more advanced or specialised corporate finance-related courses.
It is relevant for financial officers, economists, investment bankers, analysts and other decision makers.
Financial Reporting
- 15 credits
- 3 hours per week in lectures
- 12 hours per week self directed study
The aim of the course is to provide you with an understanding of the principles and practices of accounting, the characteristics and limitations of accounting data. The course will make it possible for you to:
- Prepare and interpret financial statements
- Comment on accounting policies and to discuss its implication for the financial performance of the business
- Use accounting information to assess the financial situation of a company.
Research Methods in Modern Finance
- 10 credits
- 3 x 3 hour lectures over the ten week term
- 52 hours self directed study over the ten week term
Strong research is a key element of development strategy for companies and institutions large and small.
This module aims to provide a grounding in financial research, particularly financial modelling and information gathering, which you will be able to use to support your learning on the rest of your course.
Data analysis for Finance
- 15 credits
- 3 hours per week in lectures
- 12 hours per week self directed study
Finance theory often makes convenient assumptions that facilitate predictions. However, some of those assumptions may be questionable in practice.
A good grounding in Statistics will enable you to formulate and estimate econometric models that can be used to develop empirical tests for such assumptions. The development of empirical models that are coherent with stylised facts, in turn, indicates directions in which financial theory can be improved.
To facilitate efficient analysis of financial data, a variety of statistical methods are introduced as a necessary tool in today’s information-driven financial landscape.
Financial Markets and Securities
- 15 credits
- 3 hours per week in lectures
- 12 hours per week self directed study
The aim of this module is to provide you with an understanding of the structure and functioning of capital markets, an appreciation of the valuation methods for securities and to introduce the principles of portfolio theory.
Term 2
Core modules:
Asset Management
- 15 credits
- 3 hours per week in lectures
- 12 hours per week self directed study
The aim of this module is to provide you with an understanding of the structure and functioning of the asset management industry and to develop the principles of portfolio theory relevant to professional fund managers.
Derivatives and Risk Management
- 15 credits
- 3 hours per week in lectures
- 12 hours per week self directed study
This course examines derivatives, which are a key part of modern finance.
An understanding of how they are structured, priced and used to hedge financial risks is vital for those considering careers in equity, fixed income or currency portfolio management or trading.
Study Trip in Frankfurt - International Student Experience
The study trip is an exciting two day seminar including possible visits and talks to some of the following: ECB, Deutsche bank, Frankfurt Stock Exchange (If remodelling has been completed) Frankfurt Main Tower, Bundesbank, Money Museum Frankfurt, East End & Banking Walking tour as well as a drinks reception in a traditional venue and free time to explore Frankfurt! It usually takes place in Week 6 of Term 2.
Elective modules (two of the following):
Advanced Corporate Finance
- 15 credits
- 3 hours per week in lectures
- 12 hours per week self directed study
The aim of this course is to develop an understanding of modern corporate finance so that the corporate manager, the investment banker and the financial analyst will have the conceptual foundations for making informed corporate assessments of key financial decisions. The course puts significant emphasis on the interactions between capital markets and the value of the underlying real assets.
Fixed Income
- 15 credits
- 3 hours per week in lectures
- 12 hours per week self directed study
The overwhelming majority of all financing is raised in the form of fixed income instruments.
Understanding such instruments is therefore key for all aspects of modern financial practice, whether they relate to fund raising, risk management or investment and speculation.
Starting from an assumption of minimal existing knowledge, the module provides a unified way to think about the theoretical and practical issues related to fixed income instruments.
It introduces some of the main fixed income instruments and explains their practical relevance to asset managers, treasurers, investment bankers, financial analysts, traders and other professionals who work in financial markets.
International Finance
- 15 credits
- 3 hours per week in lectures
- 12 hours per week self directed study
In recent years there has been a trend towards globalisation. That has impacted on all financial decisions and has necessitated the understanding of international financial markets.
Term 3
You may choose from the three following options in your final term.
- Option 1: Students can opt to write a 10,000 word business research project (40 credits) and take one specialist elective module (1 x 10 credits).
- Option 2: Students can take two core modules and three elective modules (5 x 10 credits).
- Option 3: Students can opt to write a 3,000-5,000 words Applied Research Project (20 credits) and take three specialist elective modules.
Core modules
Mergers and Acquisitions
This module aims to provide you with a detailed understanding of the strategic, regulatory, financial and organisational issues within mergers & acquisitions from an international perspective, but focussed on the UK. At the end of the module you should have the ability to form your own views about M&A and should be prepared to make your own creatively strategic and analytically supportable recommendations regarding potential M&A transactions
Trading and Market Microstructure
Projects
Business Research Project
It is important for aspiring professionals to demonstrate, on an individual basis, their ability to apply concepts and techniques they have learned in an in-depth study of a topic of their choice and to organise their findings in a report, all conducted within a given time limit.
To train you to undertake individual research and provide you with an opportunity to specialise in a contemporary business or finance topic related to your future career aspirations.
You are required to submit a project of approximately 10,000 words on any subject area covered in the rest of the Finance programme.
Typical projects can involve any of the following: extracting data from electronic databases or by hand; statistical analysis of large or small populations; interviews; case studies of an industry or a sector or of a business / finance issue in a particular country setting.
Applied Research Project
The aim of this module is to enable you to demonstrate how to integrate your learning in core and elective modules and then apply this to the formulation and completion of an applied research project.
You will be required to demonstrate the skills and knowledge that you have acquired throughout your MSc study.
You will undertake a short piece of applied research on a question of academic and/or practical relevance.
Guidelines will be provided in order to help you identify the research question. Based on your chosen topic, you must write a report of around 3,000–5,000 words that summarises and critically evaluates your method and your findings.
There might also be opportunities to carry out the project at partnering institutions abroad.
Electives offered in 2021
- Advanced Company Valuation
- Behavioural Finance
- Claims Management
- Ethics, Society and the Finance Sector
- Foreign Exchange
- Intro to Python
- Mergers & Acquisitions
- Private Equity Investment
- The Economics of Corporate Governance
- Trading and Market Microstructure
- Visual Basics in Finance.
International electives
- FinTech (taught in Italy)
- Investment Strategy (taught in New York, USA)
- Monetary Policy (taught in Singapore)
- Project Finance and Infrastructure Investment (taught in Madrid, Spain).
Please note that electives are subject to change and availability.
Assessment methods
Assessment
We review all our courses regularly to keep them up-to-date on issues of both theory and practice.
To satisfy the requirements of the degree course students must complete:
- eight core courses (15 credits each) and two additional core modules plus three electives (10 credits each)
or
- three electives (10 credits each) and an Applied Research Project (20 credits)
or
- one elective (10 credits) and a Business Research Project (40 credits)
Assessment of modules on the MSc in Finance, in most cases, is by means of coursework and unseen examination.
Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests and problem sets. Please note that any group work may include an element of peer assessment.
Term dates
Term dates 2023/24
- Induction: 11th September 2023 - 22nd September 2023
- Term one: 25th September 2023 - 8th December 2023
- Term one exams: 8th January 2024 - 19th January 2024
- Term two: 22nd January 2024 - 5th April 2024
- Term two exams: 22nd April 2024 - 3rd May 2024
- Term three - international electives: 6th May 2024 - 17th May 2024
- Term three: 20th May 2024 - 5th July 2024
- Term three exams: 8th July 2024 - 19th July 2024
- Resits: 12th August 2024 - 23rd August 2024
- Additional resit week - tests only: 26th August 2024 - 30th August 2024.
Timetables
Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.
View academic timetables (add timetable and search for your programme)
Please note that all academic timetables are subject to change.
Teaching staff
Course Director
Reader in Finance
Together our MSc Finance teaching staff have a variety of practical experience in the financial services sector and many are active researchers in their field.
This knowledge and experience inform the highly interactive lectures that make up the MSc in Finance.
Module Leaders include:
Application
How to apply
Documents required for decision-making
- Transcript/interim transcript
- Grading system used by your university
- Current module list if still studying
- CV
- Personal statement - this should be around 500 words in length and answer the following:
- Why have you selected this course? What are your motivating factors?
- What are your areas of interest within the course?
- What contributions do you feel you can make to the course?
- How do you see the course affecting your career plans?
Documents which may follow at a later date
- Engish language test result if applicable
- GMAT result if applicable
- Confirmation of professional qualification examinations/exemptions/passes, if applicable
- Two references
- For a successful application to receive an unconditional status, all award documents must be verified, and should be provided to the relevant Admissions Officer via one of the methods stated in your offer.
We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.
Individual Appointments
If you would like to arrange an individual appointment to discuss the application process and be given a tour of the facilities, please complete this form.
Please note - these are subject to availability.
Terms and conditions
Students applying to study at Bayes Business School are subject to City, University of London's terms and conditions.
Entry requirements
- A UK upper second class degree or above, or the equivalent from an overseas institution.
- Some level of previous study or evidence of skills in finance or quantitative methods is essential.
- Work experience is not a requirement of this course
GMAT
- GMAT is not required for application, but may be requested as a condition of offer at the discretion of the Admissions Panel.
English language requirements
If you have been studying in the UK for the last three years it is unlikely that you will have to take an English language test.
If you have studied in the UK at degree level for less than three years (e.g. 3+1, 2+1, 2+2, etc.) you will be required to provide the results of an approved English language test and possibly resit the test to meet our academic entry requirements.
Full list of approved English language tests/qualifications and minimum requirements.
Fees
Fees in each subsequent year of study for continuing students (where applicable) will be subject to an annual increase of 2%. We will confirm any change to the annual tuition fee for continuing students in writing prior to commencing each subsequent year of study (where applicable).
Deposit: £2,000 (paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)
First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the start of the induction period)
Second installment: Half fees (paid in January following start of course)
Career pathways
Career destinations for MSc Finance
The MSc in Finance prepares you for a wide range of careers in finance and related areas, in the UK and around the world. Recent graduates are now working as hedge fund managers, investment bankers, financial analysts and consultants for major financial services organisations. If you’re heading for accountancy, obtaining your UK Finance MSc allows exemption from your CIMA and ACCA exams.
Our careers team will support you in your job search, and you’ll also benefit from our strong links to major players in the finance industry.
Class of 2021 profile
Graduates from the MSc in Finance programme secure positions in companies including:
- Analyst, (Structured Credit) -Deutsche Bank
- AssociateFixed Income and Currencies- Jefferies
- Private Debt Intern,Equity Research - Ardian
- M&A Off-Cycle Analyst - ING
- Analyst Mergers and Acquisitions - HSBC
Alumni stories
Hear from our alumni. Discover the real experiences of learning at Bayes and how Bayes helped to boost our graduates' careers.
Read Bo’s storyCourse information and statistics (2022/23 cohort)
Accreditation
Successfully obtaining the MSc allows exemption from the exams of CIMA and ACCA.
See accreditation details
CIMA
CIMA is the world’s leading, and largest, professional body of management accountants.
Students successfully completing the MSc Finance will be awarded exemptions from the following modules:
- BA3: Fundamentals of Financial Accounting
- F3: Financial Strategy
ACCA
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants.
Students successfully completing the MSc in Finance will be awarded exemptions from the following modules:
- F1: Accountant in Business
- F2: Management Accounting
- F3: Financial Accounting
CFA Program Partner
The CFA Institute, the global association of investment professionals, recognises the rigour and the relevance of the MSc in Finance and has awarded this course partner status. CFA Program Partner status is awarded to a select number of universities around the world whose degree courses incorporate at least 70% of the CFA Program Candidate Body of Knowledge. The CFA Program is the essential qualification for those wishing to pursue a career in the finance sector and the CFA Institute recognises the MSc in Finance as strong preparation for their professional exams.
Each year a number of CFA scholarships are available to Bayes students, offering financial assistance with the CFA exam registration fees.
