Masters in Finance Degrees: US vs Europe

Included in the QS World University Rankings: Business Masters Rankings is the Masters in Finance Rankings 2019, which features 158 of the world’s top business schools for this degree, based on a methodology in which each institution was considered using five indicators: employability, value for money, alumni outcomes, thought leadership and diversity.

55 of the top business schools in the ranking are based in the US, while 79 are based in Europe. If you’re thinking of studying a master’s in finance degree in the US or Europe, how can you decide which suits you the best? Read on as we compare and contrast important pieces of information to help you decide.

United States

Looking firstly at the top business schools in the US for master’s in finance degrees, and its top three entrants are all ranked within the global top 10: Massachusetts Institute of Technology (MIT)’s Sloan School of Management is the country’s top entrant at third in the world, while UC Berkeley’s Haas School of Business is eighth and UCLA’s Anderson School of Management is 10^th.

Sloan achieved a perfect score for the thought leadership category, demonstrating its excellent reputation and strong history of ground-breaking ideas in management and finance, such as the Black–Scholes model. The school’s next highest scores are for alumni outcomes and employability, with 92 percent of its Master of Finance students in employment three months after graduation, earning an average starting salary of US$80,000. Tuition fees for this course are over double the global average of $33,073, currently standing at $78,000.

Of course, Sloan is by no means the only top business school in the US charging high tuition fees, but for many students, the high price tag will be worth every penny when you consider the huge probable return on their investment. Graduates of US master’s in finance courses typically earn a starting salary of $67,890. When you narrow the results down by the value for money indicator, the highest-ranked US institution is UC Berkeley’s Haas School of Business – its Master of Financial Engineering costs $68,725, but students have a starting salary of an incredible $160,083 – double that of MIT’s Sloan.

If you place importance on your master’s in finance classmates and faculty members being diverse, Florida International University, appropriately enough given its name, is the leading US institution in the diversity indicator, with 63 percent of students and 60 percent of faculty members coming from outside the US. Overall, around 68 percent of students in US master’s in finance classes are international, with eight nationalities represented – this is slightly below the global average of 71 percent of students being international, made up of 10 nationalities. And in terms of gender, US business schools have the same percentage (41 percent) of female students enrolled in master’s in finance courses as the global average.

Europe

Across the Atlantic, Europe is home to 79 of the world’s top business schools for master’s in finance degrees, including 25 in the UK. Of the UK entries, four are in the global top 10, with London Business School (LBS) taking the top spot for the second time this year for its MSc in Finance degree, which earned its strongest scores in the employability and alumni outcomes indicators. 92 percent of LBS’ Class of 2017 graduates accepted job offers three months after graduation, with an average starting salary of a whopping $91,522. Tuition fees for this course currently stand at £45,250, equivalent to around US$51,500.

While this is undoubtably a lot of money, this fee is still lower than global average, $56,798. Master’s in finance courses are on the whole about $4,400 lower than the global average, and $15,500 lower than the US. However, average starting salaries are also lower, standing at $52,376, while the global average is $56,798.

Elsewhere in Europe, other strong business schools for this program include France’s HEC Paris (ranked second in the world for its Master in International Finance degree) which earns the highest score in the ranking for the alumni outcomes indicator, with 99 percent of graduates finding employment within three months. Also featured in the top 10 is Spain’s ESADE, ranked seventh for its MSc in Finance program, again with a very high score for alumni outcomes.

If you’re interested in choosing a highly diverse place to study, LBS is again ranked number one for the diversity indicator, with 95 percent of students and 83 percent of faculty members coming from outside the UK. Overall, 80 percent of students at ranked master’s in finance degree classes are from outside their host country, higher than the global average of 71 percent. 16 nationalities are represented in a typical class, which is twice as many as the US. 

Alternatively, if you want to study at a business school which offers an excellent value for money and return on your investment, the strongest European school for the value for money indicator is Spain’s ESIC Business & Marketing School (ranked 101+ overall for its Master in Financial Management) ranked second in the world for this indicator. The tuition fee is only $16,200, and 2017 graduates earned an average starting salary of an impressive $87,500, far higher than the global average.  

At a glance: Master’s in Finance Degrees in the US and Europe

Below you can see how the top 10 US and European business schools compare for factors such as average starting salary and tuition fees.

United States

Europe

 Which one gets your vote? Let us know in the comments below, and find out more about studying in a particular country with our study destination guides.