Studying Finance Abroad: Countries, Cost, Universities, and Colleges

In the modern world, professionals in the field of finance are in high demand in the international job market. One way to obtain high-quality higher education in finance is through studying abroad. In this article, we will explore the advantages, features, and opportunities of studying finance in foreign educational institutions, as well as provide recommendations for choosing a suitable university and program.

Education Specializations in the Field of Finance

The choice of a specific specialization may depend on the interests, career goals and individual needs of the student. In this section, we will consider specializations available to students choosing education in finance abroad:

  • Financial Analysis: This is the process of analyzing financial information to make informed economic decisions. Specialists in this field study the financial statements of companies, evaluate their profitability and financial stability, as well as predict potential risks and returns.
  • Investments: Specializing in investments involves studying the investment process, developing investment strategies and portfolios, as well as analyzing market data. Students studying this specialization can work in investment banks, funds, insurance companies and other financial institutions.
  • Corporate Finance: This field involves financial planning, control, and analysis of company activities. Specialists in corporate finance may also be involved in mergers and acquisitions, issuing stocks and bonds, as well as managing corporate risks.
  • Banking: Banking programs provide students with the knowledge and skills necessary to work in the banking system. Programs include studying various banking products and services, credit procedures, risk management, and compliance with regulatory requirements. Graduates of this specialization can hold positions in commercial and investment banks, central banks and regulatory bodies.
  • Insurance and Risk Management: Specializing in insurance and risk management covers a wide range of topics related to insurance, risk assessment, and management of various types of risks. Students study insurance principles, actuarial methods and models, as well as risk assessment and mitigation methods. Graduates can work in insurance companies, financial institutions and consulting firms.
  • Financial Planning: This specialization involves creating individual financial plans for clients, assessing their financial status, and assisting in achieving financial goals. Specialists in this field help clients plan and manage their personal finances, including investments, retirement planning, taxes and insurance.

Bachelor's Degree in Finance Abroad

A Bachelor's Degree in finance is an academic degree that prepares students for careers in finance, investments, and banking. The curriculum covers a wide range of disciplines such as corporate finance, financial analysis, portfolio investments and financial management.

  • High school graduates with good grades in mathematics, economics and other related disciplines.
  • Students interested in finance, investments and fund management.
  • Candidates with analytical thinking skills, attention to detail and the ability to make informed decisions.

  • High scores in secondary education or equivalent exams (e.g., SAT or ACT for admission to American universities), especially in Mathematics and Economics.
  • Secondary School Diploma or its equivalent.
  • Proficiency in the English language at a level required by the university (for international students, the level is typically confirmed by taking the IELTS or TOEFL exams).
  • If necessary, recommendation letters from teachers or professionals in the field of finance, confirming your preparation and motivation to study finance.
  • Motivation letter in which Statement of purpose explaining the interest in the program and future plans.

  1. Familiarize yourself with the requirements and admission conditions of the universities you are interested in.
  2. Gather the necessary documents: high school diploma, exam results, recommendation letters and a statement of purpose.
  3. Prepare for and take English language exams (IELTS, TOEFL) if required for international students.
  4. Submit your application and documents to the university within the specified deadlines. Pay close attention to the deadlines as they may vary depending on the institution and country.
  5. Await the selection results. Universities typically review applications for several months and communicate their decisions via email or through the university's online portal.

In some cases, students may be offered scholarships or tuition discounts. Prepare for your move and the start of your studies: obtain a student visa if required, search for accommodation and familiarize yourself with the academic calendar and university regulations.

Master's Degree in Finance Abroad

A Master's degree represents the highest level of professional education and prepares students for a successful career in finance and investments. The degree program provides students with the knowledge and skills necessary to work in the banking sector, investment companies, auditing firms, insurance companies, and other financial organizations. 

Master's in Finance (MOF or MFin) or Master of Business Administration (MBA) with a concentration in finance are the two degree types available. MOF programs tend to be shorter, around 18 months, and are designed for financial professionals who want to further their financial knowledge and technical skills.

  • Candidates should have a bachelor's degree in economics, business, finance, mathematics, or statistics;
  • Candidates with other majors may also be accepted if they demonstrate a high motivation to study finance and possess the necessary skills and knowledge for successful education in finance master's programs abroad.

  • Bachelor's Degree from an accredited university or college;
  • Excellent academic performance and high GPA;
  • Sufficient proficiency in the English language for instruction (TOEFL or IELTS if the program is taught in English);
  • Work experience or internships in the financial field (not always mandatory);
  • Recommendation letters from professors or employers confirming the candidate's academic and professional achievements;
  • Motivation letter in which explaining the interest in the program and future plans;
  • Results of standardized tests (GMAT or GRE): not mandatory for all universities.

  1. Research various master's programs and choose suitable educational institutions based on your goals, financial capabilities and preferences.
  2. Gather the necessary documents: diplomas, academic transcripts, recommendation letters, statement of purpose, test scores and language exam results.
  3. Register and take standardized tests such as GMAT or GRE if required for your chosen program.
  4. Fill out the online application form on the educational institution's website, upload the documents and pay the application fee (if applicable).
  5. Await the decision of the admissions committee, which usually takes several weeks to several months.

Top Universities in the World for Finance Education

The financial industry is a dynamic and vital sector of the economy, offering a wide range of career opportunities. Highly qualified professionals who can adapt to constantly changing market conditions are in high demand. The top universities in the world provide quality education in finance, enabling graduates to secure prominent positions in various sectors of the economy.

The list below includes the best universities in the world for finance according to the QS World University Rankings.

Stanford University, USA

Stanford University is a private research university located in Stanford, California, USA. The university offers a range of programs in finance, including a voluntary student organization called Stanford Finance, which supports student interest in finance. The organization provides education, preparation, and building of a global professional network for Stanford students interested in the finance industry.

Massachusetts Institute of Technology (MIT), USA

Massachusetts Institute of Technology (MIT), located in Cambridge, Massachusetts, USA, offers a Bachelor of Science in Finance and a Master of Finance (MFin) program. MIT is a prestigious institution with a world-renowned faculty and a comprehensive finance program.

Oxford University, UK

Oxford University, located in the UK, is one of the most famous and ranked institutions in the world. Oxford University offers a range of finance programs, including a Bachelor of Science in Finance program, two Master of Finance programs, and a range of other finance-related courses. The university attracts high-achieving students from diverse backgrounds, providing an opportunity to build a strong professional network.

Arden University, UK

Arden University is an innovative online university that provides flexible education to students worldwide. The undergraduate programs in accounting and finance include BSc (Hons) Accounting and Finance with a foundation year and BSc Accounting and Finance, which provide students with the opportunity to acquire key skills and knowledge in finance, accounting, and management.

London School of Economics and Political Science (LSE), UK

The London School of Economics and Political Science (LSE) is a world-leading center for financial research and teaching, offering a diverse range of finance programs. LSE's finance programs aim to equip students with the necessary quantitative skills, core analytical methods in finance and financial economics, and in-depth knowledge in a range of finance subfields, preparing them for successful careers in finance.

The Berlin School of Business and Innovation (BSBI), Germany

The Berlin School of Business and Innovation (BSBI) is a prestigious educational institution located in the center of Berlin, offering business education programs focused on innovation and entrepreneurship.

The Master's in Finance and Investment (MSc Finance and Investment) provides students with up-to-date knowledge and skills in finance, investment, and risk management. The program covers topics such as portfolio investments, corporate finance, financial markets and instruments and financial modeling.

University of Economics and Human Sciences, Poland

The University of Economics and Human Sciences in Warsaw is a prestigious educational institution specializing in economics and humanities. The university actively cooperates with numerous foreign universities, offering double degree programs, summer schools, holiday courses, and in-service training for foreign partners.

London South Bank University LSBU, UK

LSBU is a modern educational institution located in the heart of London. The university offers a wide range of programs in various fields, including business, finance, economics, and management.

These universities have a global reputation and strong undergraduate and graduate academic programs in the field of finance. They offer students cutting-edge knowledge and skills necessary for success in the financial industry. By choosing one of these universities, you are investing in your future and opening up new opportunities for career growth.

Careers in Finance

Education in the field of finance opens up numerous career development opportunities, both on and off Wall Street. Some of the most popular careers in finance include investment banker, actuary, portfolio manager, quantitative analyst, securities trader, and financial planner. Some of the highest paying jobs in finance include investment bankers, actuaries, portfolio managers, quants, and securities traders.


  • Number of job openings: approximately 1 million (according to the Bureau of Labor Statistics)
  • Average salary: $71,000


  • Number of job openings: approximately 500,000 (according to Eurostat)
  • Average salary: €60,000 (varies by country)


  • Number of job openings: approximately 200,000 (according to Statistics Canada)
  • Average salary: CAD $75,000

United Kingdom

  • Number of job openings: approximately 150,000 (according to the Office for National Statistics)
  • Average salary: £55,000


  • Number of job openings: approximately 100,000 (according to the Australian Bureau of Statistics)
  • Average salary: AUD $80,000

However, it's important to note that the finance industry can be highly competitive and stressful, with long working hours and continuing education requirements. It's also important to choose a finance career that aligns with your personality, values, and interests. Other careers in finance include accountant, credit analyst, broker, financial analyst, financial lawyer, insurance agent, public accountant, hedge fund manager, and venture capitalist.

Scholarships for International Students in Finance

It's important to note that minimal scholarship aid is available to international undergraduate students, and most of it is reserved for graduate study. However, international students can also explore other sources of financial aid, such as family support and need-based scholarships.

When it comes to scholarships for international students in finance, there are several options available. Some of the opportunities include:

1. VLIR-UOS Masters Scholarships in Belgium and Sweden

2. Swedish Institute Scholarships for Global Professionals

3. Utrecht Excellence Scholarships for International Students in the Netherlands

4. Chalmers IPOET Scholarships for International Students in Sweden

5. ETH Zurich Excellence Masters Scholarships in Switzerland

6. Eiffel Scholarships in France for International Students

7. Radboud Scholarship Programme for International Students in the Netherlands

8. ENS International Selection Scholarships in France

In addition to these, international students can also explore funding opportunities in the United States, such as the Fulbright and the Hubert Humphrey Fellowship, as well as scholarships offered by specific universities.

Frequently Asked Questions about Studying Finance Abroad

Bachelor's and Master's Degrees in finance are higher education degrees that educate students in the analysis, management and planning of financial resources and investments.

A Bachelor's Degree provides the basic knowledge and skills necessary for a career in finance, while a master's degree offers deeper and specialized education, which can be beneficial for career advancement. The choice between a Bachelor's and a Master's Degree depends on your career goals, personal interests and financial possibilities.

International students can be provided with various financial opportunities, such as scholarships, grants, subsidized loans, and on-campus work while studying finance abroad.

Within a Bachelor's and Master's Degree in finance, students study various subjects, including corporate finance, investments, financial analysis, market instruments, banking and risk management.

Obtaining a Bachelor's Degree in finance takes 4 years, while a Master's Degree takes 1-2 years, depending on the program and student's course load.

A Bachelor's and Master's Degree in finance opens a wide range of career opportunities, including work in banking, investments, insurance, financial analysis, corporate finance and asset management. A Master's Degree can also provide advantages when applying for high-paying and leadership positions.

Financial analysis is the process of studying financial data and indicators to evaluate a company's financial condition and make informed investment decisions. Within a Bachelor's and Master's degree in finance, students study methods and tools of financial analysis.

Students pursuing a Bachelor's or Master's Degree in finance can consider obtaining professional certifications such as CFA (Chartered Financial Analyst), CPA (Certified Public Accountant), or FRM (Financial Risk Manager) to enhance their career prospects and gain an additional advantage in the job market.

Students applying for a Bachelor's or Master's Degree in finance should plan their studies in advance, explore various sources of financial assistance, develop time management skills and learn to work in teams.

Leonid Kurza