UCL School of Management

MSc Finance

Overview

Start date: September 2018
Duration: 12 months full-time
Fees: UK/EU - £28,370, and Overseas - £28,370
Application deadline: 29 June 2018 (possibly earlier if this programme is filled)
Entry: Minimum of 2:1 or equivalent in a relevant discipline (International students - please note that UCL’s English language requirements must be met (an ‘Advanced Level’ IELTS test is currently required for this programme)
 

Programme

The MSc Finance is a specialist master’s degree designed for those targeting finance as a professional career, or seeking career development.

This full-time programme is delivered by UCL School of Management and UCL’s Department of Economics, providing a study of finance underpinned by a blend of quantitative and qualitative components. It is based in UCL School of Management’s new home in Canary Wharf, the heart of London’s dynamic financial centre. It aims to provide individuals with the knowledge, understanding and skills to enable them to engage with specialist roles in the modern global financial industry. Such roles are likely to be located in a range of organisations, including banks, asset management companies, investment and hedge funds, insurance companies, rating agencies, broker/dealers, large and medium, and boutique financial companies. 

All participants study four core modules in term one, providing a robust quantitative underpinning in key areas of finance. In term two, two further core modules are studied, again reflecting a quantitative thrust, together with other modules selected from the range of optional modules and/or research methodology sessions, the latter being linked to the Finance research project across the summer. Other selections from the range of optional modules may be studied in term three and across the summer. The optional modules enable participants to develop their interests in a number of specialist areas. Currently, the intention is to offer optional modules drawn from areas such as mergers, divestments & IPO analysis, fixed income modelling, and finance-related big data analytics. Additionally, in term three and across the summer, participants engage in the design, execution and delivery of a finance research project. This will be supported by compulsory research and investigation workshops, drawing where appropriate on sessions offered in term two, and a range of other workshops with a focus on topical issues in finance.

The syllabus for this programme takes place across three terms and the summer, and is outlined below:

Term One Term Two Term Three and Summer 2018

MSING063 Asset Pricing

MSING064 Corporate Finance

MSING065 Financial mathematics

MSING066 Financial Econometrics                  

MSING067 Advanced quantitative
methods for finance

MSING068 Advanced Derivatives
modelling and portfolio theory

MSING069 Fixed income modelling (optional)

MSING070 Advanced corporate finance (optional)

MSING073 Behavioural finance (optional) 

Finance research project  

Research methodology sessions    

MSING071 Big data analytics (optional)      

MSING072 Mergers, divestments and IPOs (optional)

Programme dates

This programme is full-time for one year, starting in September 2018 and ending in September 2019.

All students must be in London prior to 24 September 2018, which is the first day of the first term.

Core and optional module lectures, and any workshops, normally take place on weekdays between 08:00 – 21.00 hours but may be scheduled for weekends, and particularly on Saturdays.

Modules

Asset pricing

This module introduces students to the modern theory of asset pricing and portfolio theory. Topics covered include the stochastic discount factor, Arrow-Debreu prices and equivalent martingale measures, market completeness, the law of one price and absence of arbitrage, CAPM and APT, mean-variance analysis

Corporate finance

Corporate finance includes topics such as static and dynamic capital structure, risk management, and real options. The module also considers security design, restructuring, bankruptcy, corporate control and governance, functions and operations of capital markets, analysis of consumption and investment decisions of investors, valuation theory, financial securities and risk analysis among other relevant corporate finance topics.

Financial Mathematics

Financial Mathematics will cover financial modelling and asset pricing techniques. The module covers linear algebra, real and complex analysis, probability theory, stochastic calculus, and numerical methods.

Financial Econometrics

This course covers econometric and statistical methods that are essential for analysing financial data. Topics to be covered include linear regression, maximum likelihood, generalised method of moments, Bayesian inference, Monte Carlo and resampling methods, and quantile regression, and nonparametric regression among other topics.

Advanced Quantitative Methods for Finance

This course builds on the quantitative skills acquired in the courses Financial Mathematics and Financial Econometrics and presents a range of state-of-the art quantitative methods for the empirical analysis and forecasting of financial data, in particular time series data.

Advanced Derivatives Modelling and Portfolio Theory

The aim of this course is knowledge development on more technical aspects of modern theory of asset pricing, portfolio theory, and derivatives pricing. It is a follow-up for Asset Pricing I. We will cover stochastic calculus and its implication in finance, and financial market frictions.

Applications

Student profile

Who is this programme designed for?

If you are passionate about finance and want to push yourself in your quest to forge a career in finance, or want to develop your knowledge of finance and use quantitative skills to enhance your career, this programme will be instrumental in achieving your goals.

MSc Finance students will already have high-level knowledge in core finance and associated economics and quantitative underpinnings, seeking to take their knowledge to the next level. To get to that next level, we expect a lot from our students, so if you choose to study with us, you can expect to be working hard, challenging yourself as we challenge you, and regularly finding yourself out of your comfort zone.

Our students come from different academic backgrounds including finance, economics, mathematics, engineering, economic theory, science and statistics. Degrees from other disciplines may be considered if they are related to finance and/or economics and/or mathematics.

Applying to study MSc Finance

Applications for September 2018 open on 16 October 2017 and are expected to close on 29 June 2018 (possibly earlier if the programme is filled).

Fees

The 2018-19 fees are available online

There are a number of different ways you can fund your graduate study. Take a look at the UCL fees and funding pages for details.

Scholarships

UCL Scholarships

For central additional funding opportunities, please see scholarships and funding

Entry requirements

We look for students with drive, intelligence, vigour, and the right aptitude. To ensure we enroll students who meet those four criteria, we use the following methods to assess applications.

Academic profile

Applicants should have a minimum of an Upper Second Class Bachelor’s Degree from a recognised UK University, or the overseas equivalent from a recognised higher education institution, in the following disciplines: Finance, economics, mathematics, engineering, economic theory, science or statistics. Degrees from other disciplines may be considered if they are related to, or have, a heavy content in finance and/or mathematics. Applications are particularly welcome from those with a strong economics and finance background. Applicants who have not received their final undergraduate degree must be able to prove their current grade average is a 2:1 or equivalent. We will not consider applicants with a degree result lower than an upper second-class degree.

Professional statement

A professional statement is a key component of the application process, and must accompany the initial application. The statement will capture and articulate the motivation to pursue the MSc Finance, demonstrating an understanding of core finance/economics areas, feeding into a statement of well-researched and grounded short and long-term professional and personal objectives. We also require a copy of your CV.

Online maths test

Should you reach the next stage of the application process, we would invite you to complete a short online maths test. Please note that you do not need to prepare for this in advance.

Interview

Applicants who meet the entry requirements, provide an appropriate professional statement, and pass the online maths test may be invited for an online interview via WePow.

Relevant work experience

Demonstration of an appropriate academic background is essential. Experience in the finance and finance-related sector is beneficial, but is not a pre-requisite. Applications with work experience in fields other than finance will be considered on their merits.

International profile

Applicants should highlight any international experience they have, including international exchanges, trips, internships, fluency in other languages, and/or interest in other cultures. These attributes would be advantageous because applicants are likely to be working in a highly diverse and international environment.

English language skills

Applicants whose first language is not English must be able to provide evidence that their spoken and written command of the English language is adequate. UCL’s preferred English language qualification is the International English Language Testing System (IELTS). An ‘advanced level’ is required for MSc Finance, which means an overall grade of 7.5, with a minimum of 6.5 in each of the subtests.

Documentation

Qualifications which are requested to support an application, such as a 2:1 Bachelor’s degree or equivalent, will only be assessed once an application has been completed and submitted. The equivalency of overseas qualifications cannot be assessed until a full application with all supporting documentation such as degree transcripts, references, etc. has been submitted to UCL. We do not require GMAT/GRE scores, but students will need to pass a maths test provided by UCL to be eligible to receive a final admission letter. 

Contact

For further information regarding the MSc in Finance, please contact the Programme Administrator via email: mgmt-finance@ucl.ac.uk

Why choose us

UCL

UCL is one of the world’s best universities, consistently placed in the global top 20 in a wide variety of world rankings.

Our Finance programme is unique in the UK. The modules provide you with an opportunity to develop strong quantitative and analytical skills, an in-depth understanding of how companies work, and a rigorous foundation in the key skills needed to build successful careers in global businesses.

UCL School of Management and the Department of Economics

The programme is delivered jointly by the School of Management and the Department of Economics.

UCL School of Management offers innovative undergraduate, postgraduate, and doctoral programmes to prepare people for leadership roles in the next generation of innovation-intensive organisations. The School works closely with global companies and innovative start-ups at the cutting edge of management and associated finance-related practice. The research performed in the UCL School of Management was rated as “world-leading” by the Research Excellent Framework (REF). The proportion of the School’s research rated as world-leading (4*) was the highest in the UK, together with London Business School and ahead of Imperial, LSE, Oxford and Cambridge.

The Department of Economics is the top department of economics in the United Kingdom (Research Excellence Framework “REF” 2014). The Department of Economics has an outstanding international reputation in key areas of current research. It is the only department of economics in the UK to have received the outstanding grade-point average of 3.78 (out of 4) in the 2014 REF with 79% of all indicators of output rated at the highest 4* level. The REF 2014 has ranked the Department of Economics at UCL as the top Department in the UK in the field of Economics and Econometrics, the top Department at UCL, and the top Department in any field in any university in the UK.

The Department gives students a thorough knowledge of cutting-edge techniques in theoretical and applied economics, utilising robust quantitative underpinnings.

MSc Finance

Organisations need people who can bring to the table core knowledge and critical thinking from the outset, and the MSc Finance programme is designed to equip ambitious students with the knowledge and skills to work for leading financial firms around the world.

The programme offers knowledge, understanding and skills in a range of areas critical to the effective functioning of current and developing finance-related applications. These included asset pricing, derivates, analytics, modelling, and portfolio management. 

On graduation, you will have a set of analytical skills allied with qualitative insights, incorporating other attributes contributing to an ability to work flexibly, creatively and internationally in a range of finance-related areas, including high-growth companies, management consulting firms and the finance and banking sectors.

Careers

As London’s Global University, we at UCL are better qualified than most to realise that any organisation is only as strong as the individuals who work for it.

This, allied to the innovation and flexibility needed in today’s organisations, means that recruiting the right person has never been more important.

The MSc Finance programme enables you to make an early and substantial contribution to your future employer. Each of our students are prepared for their future through career workshops, one-to-one advice, exclusive employer events and access to our alumni community.

Whatever your nationality, experience or background, you will leave UCL equipped with the tools to become a high achiever in your chosen field.

As an MSc Finance student, you will benefit from a bespoke Careers and Employer Engagement programme and a dedicated careers team who will help you present yourself to leading graduate employers with confidence.

Our portfolio of careers support for MSc Finance students includes:

  • Individual career coaching sessions with Careers Consultants dedicated to the School of Management
  • Weekly careers and professional development workshops on topics including marketing yourself as a candidate, interviews, assessment centres and planning your next steps
  • Exclusive industry insight sessions and employer-led events accessible only by School of Management students to inform your career choice.
  • Access to UCL School of Management alumni keen to support you with your career

For further information on the Careers provision for UCL School of Management, please see our Careers page.

In addition to the bespoke activities within the School of Management, you also have access to the central UCL Careers provision. 

Every year over 1,000 employers/organisations attend events arranged by UCL Careers, including careers fairs, employer presentations and sector ‘themed weeks’, which may include employer forums, networking events, talks on how to get into the sector, and one-to-one advice sessions.

Our students go on to careers in a range of sectors; the most common destinations for our students are financial institutions of diverse nature, banking, and consulting firms. Graduates from the School of Management have been able to secure jobs in a variety of high-profile companies.

FAQs

How can I apply?
Due to extremely high volumes of applications, we are no longer accepting applications for the September 2017 intake. Information regarding applications for 2018 will be available soon.
Can I find out if I am a suitable candidate for the programme before applying?
Unfortunately, we are not able to comment on a candidate’s suitability for the programme before we receive a completed application form. Our minimum entry requirements can be found above.
Will it improve my chances of being accepted if I apply for more than one MSc course?
No, in fact, if you apply for more than one MSc it will indicate that you are unfocused regarding your career ambitions and is more likely to lead to you being rejected for both courses. We currently offer a wide variety of MSc programmes, so please refer to the UCL course finder before applying to the MSc Finance, to define the programme which best suits your careers goals and ambitions.
I am an international student; how can I find out what the degree equivalency is for my home institution?
International Students may ascertain qualification equivalents from the UCL international students website. UCL Admissions check qualification equivalencies before forwarding application forms to our School. We are unable to comment on international qualifications.
I am currently studying and do not yet have my final results, should I wait to receive my transcript before applying?
If your predicted final results meet our minimum entry requirements, you can apply before receiving your final degree results. You should include details of your predicted results on your application form, and an official transcript of your results so far. If we are able to make you an offer of study, it will be conditional and you will need to prove that you meet the condition before the beginning of the course.
My degree results are just under a 2.1, can I be considered anyway? 
No, unfortunately, we are not able to consider any candidates below the minimum entry requirements. This includes applicants with a current average grade below a 2:1 or equivalent.
What documents are required for the application?
You will need to include a degree transcript in one of the suggested disciplines, two references, and a personal statement. Overseas applicants should also supply evidence of their English language ability usually via an IELTS test.
I have studied in English; do I need to take a language test?
All candidates whose first language is not English require a minimum score of 7.5 with minimum scores of 6.5 in each of the subsets in the IELTS. All students whose first language is not English must take the IELTS. More information on our English language requirements can be found on the prospective student pages
I am going to take an English test later in the year, can I still apply now?
You may apply now for a place on a programme without a current English test as long as you send your qualification as soon as your receive it. If you are offered a place, it will be conditional on your providing evidence of English before the start of the course.
My referees are not able to provide references electronically; can I provide hard copy reference letters? 
Yes, you can post hard copies to the Admissions Office to be uploaded to your application form.
What are the fees for the programme?
Information regarding fees and costs can be found on the UCL Graduate Taught website.
I want to start the programme in January, is this possible? 
No, we only have one intake a year in September.
How long is the programme and what are the term dates?
The programme lasts for a full calendar year from September to September. Term dates are available each year on the UCL website. It is important to recognise that the programme involves study and engagement across all three terms, and across the summer.
Can I obtain a scholarship or funding?
Information about the School’s scholarships is available above. Information about financial assistance is available here.
What careers support is available to students studying on this programme?
Please visit the careers website for information regarding our dedicated careers support.
May I schedule an appointment with the Programme Administrator or Programme Director to discuss my qualifications and interest in the programme?
Due to the extremely high volume of applications received, it is not possible for staff to meet personally with applicants before they have been given an offer of study.
My application has been unsuccessful. Can I find out why and request to be reconsidered?
Unfortunately, we are not able to give details on why a particular application has been unsuccessful, and cannot reconsider the decision.
Last updated Thursday, 14 December 2017