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    MS in Finance In Ireland: An Overview for International Students


    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. 

    Why Study MS in Finance in Ireland?

    The popularity of MS in Finance from Ireland among International students can be contributed to the following factors: 

    • 2 universities of Ireland rank within the top 50 universities of the world offering Masters in Finance in 2020, according to Financial Times. 
    • Five of Ireland’s universities are in the top 500 QS World University Rankings of 2020.
    • The highest-ranked among these is Trinity College Dublin – the University of Dublin, which is placed on the 108th position. Next is the University College Dublin, which is placed at 185th position.
    • 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 2.3 billion EUR each year in taxes.

    Top Universities offering MS in Finance in Ireland

    The table below provides a list of top universities offering MS in Finance in Ireland, according to THE World University Ranking of 2020: 

    THE World Ranking 2020 Universities Courses Offered and Duration Annual Fees (in EUR) Application Deadline
    164 Trinity College Dublin MS Finance (1 year);
    MS Financial Risk Management (1 year)
    22,827 June 30
    201-250 University College Dublin MS 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 MS Finance (2 years);
    MS Finance (1 year)
    13,675 July 31
    301-350 University of Limerick MS Risk Management and Insurance ( 1 year);
    MS Financial Services (1 year);
    Master of Science [M.Sc] Computational Finance (1 year)
    13,412 -
    601-800 Dublin City University

    MS Finance (1 year);

    MS Financial Mathematics (1 year)

    16,831;

    15,779

    December 07
    801-1000 Technological University of Dublin

    MS Finance (1 year);

    MS Banking And Finance (2 years)

    12,097;

    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, 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. 
    • 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. 
    • Financial Econometrics: This branch examines the relationship between econometrics and finance at the methodological and empirical levels. 
    • 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: 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. 

    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 honors 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
    • Minimum 60% at the undergraduate level
    • Demonstrated strong academic ability in a number of quantitative modules in their degree, such as mathematics, statistics, econometrics.
    • Minimum GMAT score of 650 or equivalent GRE score

    English Proficiency Requirement for International Students

    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 test scores:

    Test Minimum Score Required
    IELTS 6.5 (at least 6 in each component)
    TOEFL (iBT) 88
    PTE 63 (no section below 59)

    Documents Required for MS in Finance in Ireland Admission

    • Official university transcripts (certified translation into English)
    • CV/Resume
    • 2 letters of recommendation
    • English language certificate – for non-native English speakers
    • Photocopy of current passport
    • Passport size picture
    • Statement of Purpose (SOP)
    • Work Experience (if any)
    • Certificates of Extracurricular Activities (if any)

    Visa Requirements for International Students

    International students coming to study in Ireland must have a valid student visa. Documents required to apply for the same are: 

    • Two-color 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 online facility
    • Letter of acceptance from the education institution
    • All academic documents along with IELTS score report
    • Police Clearance Certificate
    • Evidence of financial resources and fee payment made to the University
    • Private Medical Insurance cover and 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.

    Pre-arrival Cost

    Pre-arrival cost includes application fees, fees of tests required to study in Ireland, visa fees, etc. An average of such one-time costs is tabulated below: 

    Type of Fees Cost (in EUR)
    Ireland Student Visa Fee 60
    IELTS  229 - 233
    TOEFL  228
    GRE  187
    GMAT 221
    Application Fee Varies

    Tuition Fees for MS in Finance in Ireland

    MS in Finance in Ireland costs around 12,000 EUR to 24,000 EUR per annum. University of Limerick and Maynooth University charges the lowest tuition fees. 

    Tuition Fees for MS in Finance in Ireland

    Cost of Living in Ireland

    Travel and accommodation costs in Ireland are very similar to other European countries. The monthly expenses vary depending upon the university in which you are studying and the place of accommodation. On average, a student can expect to spend between 7000 and 12000 EUR per year on living expenses.

    An estimate of the cost of living in Ireland is tabulated below:

    Type of Expense Monthly Expenditure (in EUR)
    Rent 427
    Utilities 28
    Food 167
    Travel 135
    Books and class material 70
    Clothes/Medical 41
    Mobile 31
    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

    For more scholarships in Ireland, click here

    Scope after MS in Finance in Ireland

    The diversity of job roles in Ireland in the finance sector are available in both financial and non-financial organizations alike, spanning across 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 graduates are Standard & Poor's, Royal Bank of Scotland, KPMG, PwC, Boston Scientific, Commerzbank, AIB, Bank of Ireland, Goodbody Stockbrokers, Davy, Citco Fund Services, etc.

    A person working in accounting and finance in Ireland typically earns around 143,000 EUR annually. Salaries range from 65,300 EUR (lowest average) to 303,000 EUR (highest average, the actual maximum salary is higher). 

    Given below are salaries of a few job titles for MS in Finance graduates:

    Job Role Annual Salaries (in EUR)
    Finance Relationship Manager 204,000
    Finance Executive 249,000
    Financial Analyst 158,000
    Securities, commodities & financial services Sales Agent 130,000
    Financial Manager 297,000
    Financial Actuary 151,000
    Accountant 107,000
    Financial Officer 175,000
    Financial Consultant 149,000

    The one year full-time and two-year part-time MS in Finance program comprise of core modules covering many aspects of financial management and capital markets. Each university offering this program have their own striking features and help students begin a career in financial markets and institutions, especially in investment banking and asset management. Opportunities are available in the risk management field and finance functions of corporations as well as regulatory bodies too.

    FAQs

    Ques. What are some of the top universities offering MS in Finance in Ireland?

    Ans. Some of the top universities offering MS in Finance in Ireland are Trinity College Dublin, University College Dublin, National University of Ireland, Maynooth University and University of Limerick.

    Ques. What are the requirements for applying to MS in Finance in Ireland?

    Ans. To apply for MS in Finance in Ireland, you are required to have a bachelor's degree in business, commerce, engineering, mathematics, or finance related area. Minimum required percentage is 60%.

    Ques. How much does it cost to study MS in Finance in Ireland?

    Ans. Average annual tuition fees of universities offering Masters in Finance in Ireland is between 12,000 EUR to 24,000 EUR. Approximate cost of living for an international student is around 12,000 EUR per annum.

    Ques. What is the scope after pursuing MS in Finance in Ireland?

    Ans. You can work as Relationship Manager, Executive, Analyst, Financial Actuary, Accountant and Financial Consultant after pursuing MS in Finance in Ireland. Average salary earned by a finance graduate is around 143,000 EUR per annum.