The Banking and Finance sector is unarguably one of the most dynamic industries in the world. The Banking and Finance space provides several career opportunities. If you’re intrigued by the financial markets, stocks, bonds, and other investment vehicles, and you also like to think about numbers, then a major in finance is worth considering. In this post, we will look at the top business schools in the world for banking and finance jobs.
A person with Banking and Finance background will always have high chances to go up to the top level management. Finance and Banking are two distinct topics. Finance deals with accounting services like managing account payable, payroll processing, bookkeeping, receivable, financial reporting, reconciliation, and tax preparation. In contrast, banking deals with day to day transaction.
From a small scale industry to large corporates, every entity needs Banks and financial institutions. All the decisions related to the financial matters are taken by considering the decisions of the finance and banking departments in the organization Every part of the world needs a bank and every bank needs professional banking and finance employees, which reveals that demand of the banking and finance professionals in the world.
For specializing in Finance, you could study either Masters (MS or MSc) in Finance or an MBA with specialization in Finance.
Masters (MSc/MS.MFin) vs MBA Finance
Master in finance can become a stepping stone to enter into any renowned organizations in the world. Studying in renowned top universities add up so much to the career. The name of the college itself opens the opportunities to the graduate. A master degree in Finance opens up the skills and provides you the in-depth knowledge regarding the subject. Top universities help you get both practical and theoretical knowledge regarding the subject. An MBA with specialization in Finance is also a great career path.
You can enroll in a Masters in Finance program immediately after Bachelors. This makes MS Finance a great option for freshers without work experience (though few may have a minimum work experience requirement). An MBA program applicant would be expected to have at least three to five years of work experience while applying.
MS Finance is a focused program, specializing in the technical aspect of finance and quantitative methods. It will enable students to understand complex financial strategies through tools, mathematical models, and frameworks that will aid them in applying finance principles to businesses.
An MBA program will provide the option to specialize in the Finance. But, there would be a limitation to the level of detail covered and the scope of topics dealt with.
At the same time, MBA program covers a broad spectrum of core business topics and electives. It provides you with multiple options to choose your career across a wide range of industries and roles, some of which include marketing, HR, operations, strategy, Information Technology, entrepreneurship or finance. It also helps manage a career transition into a new area.
An MBA graduate may be the recruiter’s first choice for jobs on Wall Street or for a role in an investment bank’s mergers and acquisitions department or a role in corporate finance.
However, in certain specialized areas of Finance such as risk management, equity research firms, asset management, advisory services, investment research, security analysis, brokerage which need quantitative finance experts with a deep analytical knowledge, an MS in Finance graduate would get an upper hand.
Last but not the least, a Masters in Finance will cost you something between USD $50,000 to $75,000; whereas an MBA will cost you $100,000 to $150,000.
Both tracks have their own pros and cons. The right program depends on your profile, career stage, and objectives. Graduates of both MBA and MS Finance programs can expect a quality education that can’t help but further their career paths.
While an MBA offers more flexibility in terms of curriculum and ability to take classes part-time, it is becoming a more crowded space while business schools are becoming more competitive. A Master of Finance is a good alternative for students seeking a finance-specific career while devoting only one year to earning their degree.
Now, we will move on to the list of the top business schools in the world for banking and finance jobs.
Top Business Schools in the World for Banking and Finance
London Business School
London Business School provides the masters of Science in Finance course which ranks fourth among the top universities for finance and banking. It’s a specialized program which is executed through a group of experts in the finance field. New technics in finance, newest monetary instruments and methods were taught to the graduates to understand the current world with ease and techniques. A well-recognized university permits the student to understand the theoretical subject in a practical way by providing the internships before getting out of the universality with a master’s degree.
Masters in Finance is the program at MIT provides in-depth knowledge in banking and finance along with a job at reputed institutes in the world. MIT is also considered to be an active research center in the world for Finance.
The MBA finance at MIT Sloan is designed to provide you with an in-depth knowledge and exposure to the various finance theories, their applications, various practices as well as the career choices you can opt for.
You’ll also be able to interact with peers having similar interests. Your elective choice will help you get a better understanding of the area of your choice. You can also participate in the onsite events or seminars and various social events outside class to strengthen your network.
IE Business School
IE Business School’s International MBA + Master in Advanced Finance Dual Degree program offers an opportunity to become the most competitive candidate in your chosen profession. In less than two years, by completing the International MBA + Master in Advanced Finance Dual Degree can easily secure your position for highly demanded exceptional professionals for the art of specialized management with one of the best finance educations worldwide.
The SDA Bocconi Full-Time MBA program maximizes the learning opportunities in a limited scope of time. It is a program with a practical and innovative curriculum, catering to the realities of the marketplace by encouraging students to go beyond conventional business models through creative thinking and responsible problem-solving.
HEC Paris, MBA in Finance program provides a consistent set of finance courses, combining academic courses and hands-on courses taught by HEC best research faculty and practitioners. This set of specialized courses will advance your knowledge in corporate finance, financial analysis, corporate valuation, asset management, financial credit and sustainable investments.
The UCLA Anderson School of Management offers MBA in finance in specialized formats. These include Corporate Finance, Investment Management, and Accounting. In addition, there are options for (dual-degree) programs, which allow students to earn an MBA while achieving another UCLA graduate degree in a combined track. This allows the students to develop their knowledge both theoretically and practically in another program simultaneously while completing the MBA studies.
Oxford ranks consistently among the best universities in the world for Finance. The University of Oxford provides Masters of Science in Financial Economics with an excessive score for employability and knowledge. MFE provides 4 programs pricing, economics, corporate finance and monetary econometrics with about five electives to provide extensive knowledge regarding the subject to the student.
Esade Business School
ESADE, MBA Program is best in excellence, international outlook and its focus on the development of personal and professional competencies. As a platform for business education, innovation, and dialogue, it continuously searches for new solutions in CSR, knowledge management and entrepreneurship.
St. Gallen MBA Program provides advanced academic training in selected subject areas. This involves both theoretical and practical training. Through research experiences, students will confront complex academic and practical problems, working independently to develop a clearly defined academic profile.
Imperial College Business School
Imperial College London has consistently ranked in the top ten in the world and top five in Europe. The MBA programs at Imperial covers modules on Finance, Corporate Finance, Investments and Risk Management, and Decision Analytics.
The London location, industry tie-ups, expert faculty, and practically oriented courses are the hallmarks of the Master’s program. Students from the Macroeconomics and Finance for Practitioners module visited Dubai to learn more about monetary and fiscal policy issues in a different economy. Additionally, MSc students gain buy-side practical skills by launching a £100,000 student-led investment fund.
Masters in Finance at Stanford covers the detailed study regarding stocks, bonds, commodities and other relevant banking services. Students will gain knowledge on economic subjects, together with the pricing and valuation of property, the conduct of economic markets, and the construction and monetary decision-making of corporations and monetary intermediaries.
Under the MBA curriculum, the first year covers the general management topics to create a solid foundation. The second year offers a flexible curriculum where you can take the electives of your choice or choose among courses offered at other Stanford schools.
A lot of finance-related seminars and courses are offered and you can personalize the course of your study in the areas of your choice.
The University of Cambridge is a public research university in England, founded in 1209 and ranks fifth in the list. Judge Business school, Cambridge provides the M-Fin course whose main focus is on the theory and practical knowledge in finance. The research center in the university is known for its excellent and expert lecturers who guide the student at each and every step during the program. This university has strong links with banking and finance industry in the world.
NYU Stern, specialization in Finance offers insight into how financial markets function. Stern’s Finance department provides the necessary education for students seeking positions in industry, financial institutions or in government or nonprofit institutions. Students here get the opportunity to work with field leaders and have the opportunity to participate in real-world learning programs.
NYU Stern offers Masters programs in Global Finance, Quantitative Finance, Risk Management, Accounting, Business Analytics, and Data Analytics & Business Computing.
The University of Chicago is a private university which is culturally and ethnically diverse educational research college. It is the seventh best university to get the Masters in Finance. Chicago University has a finance curriculum with both the banking and finance streams which gives an in-depth knowledge about corporate finance, investments, risk management and other aspects in the finance. The University provides the essential support to the student to deal with the ongoing projects in the companies to understand well how the finance industry works.
In MBA, you can opt for finance or analytic finance concentration. The finance concentration covers both corporate finance and investments. The analytic finance concentration dwells on various financial theories and application of these theories in the business world.
You can also keep yourself busy by participating in various activities and events held by various groups that will give you more exposure to the finance world and help develop network and skills.
Kellogg Finance Department is considered to the award-winning research and teaching college in the world. The renowned faculty teaches the various aspects of the finance like pricing, corporate finance, capital market dynamics, household finance, macroeconomics, and econometrics. Many numbers of journals were published on behalf of the university which reveals the standards and ethics in the department.
The Finance major is the more popular option and covers the entire range of career options and industries. You can also opt for the Analytical Finance major which is a recent addition. This major goes deeper into the technical side of financial markets and modeling.
The Wharton School at the University of Pennsylvania is one of the best and most prestigious schools in the world ranked by Forbes, U.S. News & World Report, Washington Monthly, QS World University Rankings.
The MBA curriculum offers flexibility in terms of opting to take the entire core course or being able to waive several courses and focus on the electives that suit your interest or career goals. The MBA program allows you to choose your two-year focus.
There are various options like an entrepreneurial focus, marketing focus, financial services focus on others. The school uses a combination of lectures, case study, and simulations as well as practical methods to deliver the latest updated content to give you the best possible learning experience.
UC Berkeley Haas
The University of California, Berkeley’s Haas School of Business provides the Master of Financial Engineering program to the graduates. A one year program prepares the student to know every aspect of the banking and finance dealing with an organization. A newly designed degree gives enough knowledge regarding various skills which are required for the finance or FinTech industry. The university provides the clear-cut knowledge regarding the investment banks, commercial bank, and other firms in the world. Haas School of Business stands tenth I the top list of universities in Finance and Banking industry.
The curriculum starts with an introduction to finance topics as a core course. The other finance areas that are covered include corporate finance, entrepreneurial finance and asset management.
The school is located close to San Francisco’s financial district. This opens doors to various job or internship opportunities in the finance sector. You can explore various clubs as per your interests or take advantage of the dedicated team in charge of financial services recruiting.
Harvard Business School
Harvard is a private Ivy League research university in Cambridge which is devoted to its teaching, learning and tremendous research programs in the world. Although HBS does not rank highly on the list of Master’s programs, it’s a top school on the list of MBA programs.
Harvard University provides an executive MBA in finance program which deals with the scientific and practical reasoning in Finance department. It also offers Business Economics doctoral programs for the doctorate aspirants.
Comparison of the Top 10 Business Schools in the World for Banking and Finance as per MS & MBA Rankings
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Other Top Business Schools in the World for Banking and Finance
- Yale School of Management
- USC (Marshall)
- Edinburgh Business School
- Texas (McCombs)
- ESSEC Europe
- Grenoble School of Business
- EMLyon Business School
- Duke Fuqua
- Michigan Ross
- ESCP Europe
- EDHEC Business School
- IESE Business School
- NYU Stern
- UCLA Anderson
- Columbia Business School
- Duke Fuqua
- Dartmouth Tuck
- University of Hong Kong
- Nanyang Business School
- NUS Business School
- Frankfurt School of Finance & Management
- Skema Business School
- Manchester Alliance
- Cass Business School
- Copenhagen Business School
- Rotterdam School of Management
- Stockholm School of Economics
- WHU (Otto Beisheim)
- WU Vienna
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Acknowledgment: This article has been co-authored by Parinita Gupta, a banking professional & digital marketing expert.
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