Finance, M.Sc.

  • N/A
    Application Deadline
  • 24 months
  • Tuition
    Tuition (Year)
    Tuition (Year)
  • English (take IELTS)
University rank #201 ,
The Master's Programme in Finance at Aalto University prepares students for jobs in the world’s most selective companies in the financial industry. The Finance programme provides a dynamic, demanding, but supportive learning-centered environment which prepares students for jobs in the world’s most selective companies in the fields of international banking, management consultancy, and related areas.


Students develop a solid scientific approach to financial problems. The programme encourages the development of the broader communication, teamwork, ethical, quantitative, and intercultural skills that students will need both in general management positions and as active citizens able to discuss the issues of the day.

Learning outcomes

After completing the Master’s Programme in Finance students have:

  • a thorough understanding of the models and theories of corporate financing and investment decisions
  • skills necessary to apply these ideas independently and analytically in working life
  • knowledge of the features of the capital markets

The graduates are able to:

  • analyse corporate risk factors quantitatively
  • evaluate the value of e.g. derivative instruments using sophisticated evaluation tools
  • apply financial tools to a number of situations both in strategic decision making of the firm (e.g. mergers and acquisitions) and in day-to-day management (e.g. portfolio and risk management)
  • work in a world where financial services are global, significant to the economy, and in constant change
  • adapt to a financial environment which is increasingly aware of system-wide risks, conflicts of interest, and regulatory challenges

The general management skills the programme aims to foster include:

  • analytical skills, teamwork skills, and problem solving skills
  • opportunity to consider challenging issues in business ethics and to develop international business communications skills at an advanced level
  • Career prospects

Finance students have an excellent placement record in the job market. Most Finance graduates find their first jobs in the financial industry, such as investment and commercial banks, brokerage firms, mutual fund companies, and insurance companies. Management consulting companies, industrial corporations, and public institutions are also important employers of Finance graduates.

Programme Structure

The students have the opportunity to tailor their degree by specialising in one of two areas of concentration: corporate finance or financial markets.

In the corporate finance area, students focus on such questions as analysing and choosing investment projects, mergers and acquisitions, agency theory, investment banking and obtaining funds from the primary markets, project and trade finance, and capital structure and dividend decisions. The corporate finance area prepares students for entry-level positions in e.g. investment or commercial banking, management consulting, or the finance and corporate planning functions of industrial firms.

In the financial markets area, students focus on issues such as the behavior and determinants of security prices, their implications on portfolio management, behavioral finance and investor psychology, venture capital, risk management, as well as pricing options, futures, and other derivatives. The financial markets area prepares students for entry-level positions in e.g. investment management and strategy, venture capital and private equity, and risk management.

Detailed Programme Facts

  • Full-time duration 24 months
  • Study intensity Full-time
  • Credits
    120 ECTS
  • Languages
    • English
  • Delivery mode
    On Campus

English Language Requirements

You only need to take one of these language tests:

  • Minimum required score: 6.5

    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

    Take IELTS test
  • Minimum required score (Grade C): 180

    The CAE test – or the Cambridge Advanced English – is an exam for applicants who wish to get a Certificate in Advanced English. To receive the Advanced certificate, test-takers must score between 142 and 210 on the Cambridge English: Advanced test. Read more about CAE.

    Note: degree programmes and applications may require a more specific minimum score for admission.

  • Minimum required score: 580

    The TOEFL – or Test OF English as a Foreign Language – offers a paper-based test (PBT). The final, overall PBT score ranges between 310 and 677, and is based on an average taken from the three test components (listening, structure, and reading). The writing part of this test is scored separately on a scale of 0-6. Read more about TOEFL (PBT).

  • Minimum required score: 92

    The TOEFL – or Test Of English as a Foreign Language – offers an internet-based test (iBT). The final, overall iBT score ranges between 0 and 120, and includes a scaled average from the four components (reading, listening, speaking, and writing). Read more about TOEFL (iBT).

Academic Requirements

You need the following GMAT score:

Required score: 550

The GMAT is specifically designed for admission to business or management schools, and is meant to test how prepared you are for a business degree programme

1. General admission requirements

The application must first fulfill the general eligibility requirements before it is sent to the Master's programme for academic evaluation. Please read carefully the general admission requirements, selection schedule, required application documents and application instructions on our website section admission. See also language requirements.

In addition to the general eligibility requirements, each Master's programme has programme-specific evaluation criteria.

2. Programme-specific requirements

Academic evaluation criteria of the Master's Programme in Finance is based on considering the following areas:

  • GMAT/GRE test score. Note that this receives the most weight in selection (exact weightings are not disclosed).
  • Academic achievement (considering absolute and relative performance, the type of degree and the reputation of the institution granting it).
  • Motivational letter, preferably less than 300 words
  • Video phone (e.g., Skype) interview for selected candidates

It can be considered an advantage to have completed the basics of finance (discounting and present value, cost of capital, basics of asset pricing and portfolio theory, basics of financial institutions and financial markets). Students with little background in finance selected to the programme may be required to complete one or two B.Sc. level finance courses (such as Corporate Finance and/or Financial Markets and Institutions and/or Econometrics for Finance) during their first year of studies.

Tuition Fee Per Year

  • EUR 15000 International
  • Free EU/EEA


There are several ways to fund your studies at Aalto University. Prospective non-EU/EEA students applying to Aalto University Bachelor’s and Master’s programmes as well as Nordic Master programmes are eligible to apply for scholarships awarded from the Aalto University Scholarship programme. Certain international joint degree programmes have their own tuition fees and scholarship schemes. There are also some possibilities to apply for a scholarship outside Aalto University.
Aalto University Scholarship programme

Aalto University Scholarship programme seeks to recognize talented non-EU/EEA students across the world by awarding academic excellence. Scholarships may cover 50 % or 100 % of the tuition fee. The number of scholarships awarded is limited and depends on the budget available to the programme.

Aalto University is also building an incentive scholarship system in which an additional waiver will be rewarded to students who have made good progress in their studies.

Applicants apply for the scholarships at the same time they apply for their preferred study options with the same application form. The scholarship decision is given together with the admission decision. The decisions on the awarded scholarships are made on the basis of the academic merits of the students selected to study in the programmes.

At the moment, Aalto University does not offer any scholarships to cover living costs in Finland. Students are expected to cover all living expenses (app. EUR 800 per month) and other study related costs from their own financial resources. Scholarship recipients must still be able to fund their living costs, as per the requirements of the Finnish Immigration Service.

Students who were selected during the application period 2016 to English-taught bachelor’s or master’s programmes will not be required to pay tuition fees and cannot apply for scholarships.

StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

Testimonial Registration Module

The Global Study Awards: get funded with up to £10,000 to study abroad

Together with the ISIC Association and British Council IELTS, StudyPortals offers you the chance to receive up to £10000 to expand your horizon and study abroad. We want to ultimately encourage you to study abroad in order to experience and explore new countries, cultures and languages.