MS In Finance In Ireland: An Overview
MS in Finance in Ireland is a 1-2 year course designed to give the students advanced specialist knowledge and a practical understanding of finance theory. It is suitable for graduates with an educational track record in business, economics, finance or any degree with a significant quantitative element.
- Annual tuition fees of universities offering MS in Finance in Ireland is between 12,000 EUR to 24,000 EUR.
- This program is among the top 40 ranked programs by Financial Times.
- Students can earn an average of 143,000 EUR per annum after completion of MS in Finance from Ireland universities.
Why Study MS in Finance in Ireland
- All of the Irish universities are public and therefore state-funded.
- Five of Ireland’s universities are in the top 500 QS World University Rankings of 2020. The highest-ranked of these is Trinity College Dublin – the University of Dublin, which is placed at 108th. The next highest-ranked is the University College Dublin, which is placed at 185th.
- Half of the world’s top 50 banks, including Citigroup, Deutsche Bank, State Street, Credit Suisse, Bank of America and JP Morgan, have internationally-focused operations in Ireland.
- International banks, investment managers, insurers, aircraft leasing operators and an array of other financial firms employ over 42,000 people and contribute 2.3bn euros each year in taxes.
Top Universities offering MS in Finance in Ireland
Table below provides a list of top universities offering MS in Finance in Ireland:
|THE World Ranking 2020||Universities||Courses Offered and Duration||Annual Fees (in euros)||Application Deadline|
|164||Trinity College Dublin||Master of Science [M.Sc] Finance (1 year);|
Master of Science [M.Sc] Financial Risk Management (1 year)
|201-250||University College Dublin||Master of Science [M.Sc] Finance (1 year)||24,169||-|
|251-300||National University of Ireland, Galway||Masters in International Finance (1 year)||14,990||January 06|
|301-350||Maynooth University||Master of Science [M.Sc] Finance (2 years);|
Master of Science [M.Sc] Finance (1 year)
|301-350||University of Limerick||Master of Science [M.Sc] Risk Management and Insurance ( 1 year);|
Master of Science [M.Sc] Financial Services (1 year);
Master of Science [M.Sc] Computational Finance (1 year)
|601-800||Dublin City University||Master of Science [M.Sc] Finance (1 year)||16,831||December 07|
|Master of Science [M.Sc] Financial Mathematics (1 year)||15,779||December 07|
|801-1000||Technological University of Dublin||Master of Science [M.Sc] Finance (1 year)||12,097||April 30|
|Master of Science [M.Sc] Banking And Finance (2 years)||16,042||April 30|
Specializations offered in MS in Finance in Ireland
MS in Finance allows students to choose from an array of core finance topics, such as accounting, corporate finance, financial valuation, behavioral finance, derivatives, capital markets, econometrics, financial modeling, quantitative methods, investment management, financial regulation, and financial reporting. Some of the topics are explained below:
- International finance: It is a broad branch of financial economics concerned with interrelating monetary and macroeconomic perspectives. The topics covered here include international monetary systems, international taxation, exchange rates, foreign direct investment, translation exposure and political risk.
- Financial management: A specialization in financial management is a good option for candidates interested in pursuing financial careers in the corporate, banking, insurance, and financial services sectors. Topics covered are likely to include corporate finance, accounting, financial markets, capital budgeting, shareholder dividend policies and allocation of assets.
- Financial econometrics: This branch examines the relationship between econometrics and finance at the methodological and empirical levels. Topics covered may include quantitative asset pricing, financial derivatives, and topics relating to volatility processes, continuous-time processes, extreme values, long memory, endogenous sampling transaction data and microstructure of financial markets.
- Financial markets: An ideal subject for those interested in the financial/banking sectors, financial markets. This topic explores financial institutions and regulation, monetary policy, debt and foreign exchange markets, equity and derivative markets, and international financial architecture and macroeconomic analysis.
- Financial engineering: Financial engineering is a highly technical multidisciplinary field involving the application of computational engineering, software engineering, and computer programming skills along with mathematical and statistical theory to analyze and manage financial opportunities. It includes learning how fundamental finance theories and models are used in the measurement and management of risk using mathematical and programming tools.
- Financial planning: The field of financial planning involves learning about how to achieve financial goals through proper planning and wealth management – for both individuals and organizations of various sizes. It includes retirement planning, risk management or employee benefits, as well as learning how to build and maintain client relationships, the factors that can affect financial decision-making, the psychology of money, emotional intelligence and decision theory.
Typical course content of MS in Finance:
- Advanced derivatives
- Asset markets
- Behavioral finance
- Corporate finance
- Economics/ econometrics
- Financial mathematics
- Financial markets
- Financial management
- Financial planning
- Financial accounting
- Financial engineering
- Financial reporting
- International finance
- Private equity
- Risk management
- Venture capital
Admissions Process for MS in Finance in Ireland
Popular universities in Ireland have admission committees who review and assess the applications and compare the international qualifications to the Irish entry requirement for MS in Finance in Ireland.
Eligibility for MS in Finance in Ireland Admission
- An honours bachelor's degree in:
- Business/Commerce to include a number of quantitative subjects such as Economics or Finance
- Engineering, Mathematics, Physics or a Finance related area with a minimum 2.2 award at NFQ Level 8 (or international equivalent) in a. or b. above.
- Applicants should have demonstrated strong academic ability (a 1.1 or 2.1) in a number of quantitative modules in their degree, such as mathematics, statistics, or econometrics.
- If GRE scores are submitted, it should be equivalent to GMAT scores 650-770.
- All applicants whose first language is not English and who have not been educated through the medium of English must present one of the following qualifications in the English language:
- IELTS: Grade 6.5 (at least 6 in each component ie. Reading, Writing, Listening, Speaking)
- TOEFL: 88 – internet-based
- Pearson Test of English (PTE) Academic: a minimum score of 63 to be eligible (with no section score below 59)
- University of Cambridge:
- Proficiency Certificate, Grade C or better (CEFR Level C1 or C2);
- Advanced Certificate, Grade C or better (CEFR Level C1 or C2);
Documents Required for MS in Finance in Ireland Admission
- Bachelor degree from an accredited university
- Official university transcripts (certified translation into English)
- 2 letters of recommendation
- English language certificate – for non-native English speakers
- Photocopy of current passport
- Passport size picture
- Application fee (fee is not refundable)
- Statement of Purpose (SOP)
- Work Experience Letter (s) (if any)
- Certificates of Extracurricular Activities (if any)
Visa Requirements for International Students
- Two colour passport-sized photographs not more than 6 months old (photograph requirements are here)
- Original Passport (should be valid for at least 12 months after the proposed date of arrival in Ireland)
- The Visa Application forms and the summary form during online application at AVATS on-line facility
- Letter of acceptance from the education institution
- All academic documents along with IELTS score report
- Police clearance Certificate
- Evidence of financial resources
- Evidence of fee payment made to the University
- Private Medical Insurance cover
- Birth Certificate
- Information or confirmation of any previous Irish visa refusals
Cost of Studying MS in Finance in Ireland
Cost of studying abroad can be divided into two broad categories: Pre-arrival Cost and Post-arrival cost. Pre-arrival cost includes one time expenses incurred before coming to university. Post-arrival cost includes tuition fees and the cost of living.
An average of such one-time costs is tabulated below:
|Type of Expense||Cost (in euros)|
|Ireland Student Visa Fee||60|
|IELTS Fee||229 - 233|
Cost of Living in Ireland
Living costs in Ireland are very similar to other European countries. Precisely the monthly expenses vary depending on the university the candidate is studying in and the place of accommodation. On average a student is expected to spend between 7000 and 12000 euros per year. An estimate of the cost of living in Ireland is evaluated below:
|Type of Expense||Monthly Expenditure (in euros)|
|Books and class material||70|
|Social life/ Miscellaneous||75|
Scholarships for MS in Finance in Ireland
Ireland offers a long list of scholarships which either offer full tuition fee or merit prizes from 2000 to 5000 euros. Below is the list of scholarships for international students in Ireland:
|Scholarships||Providing Universities||Eligibility of International Students||Amount (in euros)|
|Centenary Scholarship Programme||Dublin Institute of Technology||Yes||50% fee waiver|
|Postgraduate merit Scholarship||National University of Ireland, Galway||Yes||2000|
|National College of Ireland Scholarships||National College of Ireland||Yes||2950|
|Max Arthur Macauliffe Special Merit Scholarship||National University of Ireland, Galway||Yes||Full fee waiver|
|Sir Peter Freyer Scholarship||National University of Ireland, Galway||Yes||Full fee waiver|
|MSc Merit-based Scholarship for International Students||UCD Michael Smurfit Graduate Business School||Yes||50% fee waiver|
|Indian Academic Excellence Scholarship for Smurfit||UCD Michael Smurfit Graduate Business School||Yes (only Indian students)||50% fee waiver|
|V.V. Giri Global Excellence Scholarship||University College Dublin||Yes (only Indian students)||Variable|
|JN Tata Endowment Scholarship||Government||Yes (only for Indian students)||Variable|
|Government of Ireland International Education Scholarship||Government||Yes||9,285|
Scope after MS in Finance in Ireland
The diversity of job roles in Ireland in the finance sector means that there are opportunities for MS in Finance in Ireland with any degree background. The finance sector offers a wide variety of roles for graduates in financial and non-financial organizations alike, spanning the public and private sectors.
Employees in Ireland usually have a salary increment of approximately 9% every 16 months with bonus rates in the field of Finance being the highest.
Top Recruiting Companies for Finance in Ireland:
- Standard & Poor's
- Royal Bank of Scotland
- Boston Scientific
- Bank of Ireland
- Goodbody Stockbrokers
- Geneva Trading
- Citco Fund Services
- Standard Life and BNY Mellon
Job Opportunities after MS in Finance in Ireland
A person working in accounting and finance in Ireland typically earns around 143,000 euros annually. Salaries range from 65,300 euros (lowest average) to 303,000 euros (highest average, the actual maximum salary is higher).
Given below are salaries of a few job titles in Finance careers:
|Job Role||Annual Salaries (in euros)|
|Finance Relationship Manager||204,000|
|Securities, commodities & financial services Sales Agent||130,000|
The one year full-time and two-year part-time formats of MS in Finance comprise core modules covering many aspects of financial management and capital markets. Each university offering MS in Finance in Ireland have their own striking features and help students begin a career in financial markets and institutions, especially in investment banking and asset management, or in the risk management and corporate finance functions of corporations as well as regulatory bodies.