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World credit crunch makes a Masters in Finance more relevant than ever
The most cursory of glances across the headlines over the last few months will have left an impression on those interested in finance and business. The �credit crunch,� a slow down in the global economy, increasing concerns over the viability of some of the world�s largest banks - not to mention hastening inflation - have all brought the financial world sharply in focus.
While economists and central bankers suggest strategies to steer the global economic environment away from recession, much of the mechanics of the financial markets is firmly in the hands of those with specialized skills in finance and its many related areas. The current uncertainty illustrates to many the need to train and educate more graduates fluent in international finance. Increasing sophistication and interdependence in the markets has sparked a demand for candidates with the necessary skills to meet the needs of corporate, public and institutional employers. Whether you seek a career as a trader or an analyst, developing quantitative models to help manage risk, or another specialization in the sector, choosing a Masters program in finance is likely to result in excellent career prospects.
Masters programs in finance come in all shapes and sizes, depending on the country in which you choose to study and the nature of the program.
Masters programs in finance come in all shapes and sizes, depending on the country in which you choose to study and the nature of the program. Investment finance, risk analysis and management, financial regulation, corporate finance and international banking and securities are some of the more commonly found programs available to international students, with many more titles available depending on your own area of interest. Renowned programs exist in universities and business schools in Australia, Canada, France, Singapore, the UK and the US, many of which have developed enviable links with national and international employers to support their graduates into the labour market.
The programs offered by the University of Melbourne in Australia are recognized for their quality and relevance to the workplace. Sean Pinder, Senior Lecturer in the Department of Finance and coordinator of the Postgraduate Diploma in Finance, the Masters of Financial Management and the Masters of Applied Finance judges the benefits of Melbourne�s programs clearly: �Our standards are set high and in turn our graduates are highly sought after by major employers. We also pride ourselves on the credentials and experience of our academic and industry presenters and believe that our programs offer the appropriate mix of theory and practice which is essential to prepare our graduates for the challenges they will face in an ever changing and increasingly globalized financial world.�
Melbourne, like a number of the other top universities around the world, offers specific programs in finance depending on the professional experience of their applicants. For example, the Masters of Applied Finance is designed for those candidates with two or more years of work experience in a related area and is intended to develop their practical and career-orientated skills and expand their area of finance-related knowledge. The added advantage of such programs is that they often include a professional qualification or certification, essential in the increasingly regulated financial world in which many businesses and individuals operate. The Melbourne program meets a number of the requirements of the Australian Finance and Treasury Association, the Australian Securities and Investment Commission, CPA Australia and the Australian Securities and Investment Commission�s training course.
Other Masters degrees in finance aim to develop very specific areas of subject interest directly relevant to the most dynamic of financial careers.
Other Masters degrees in finance aim to develop very specific areas of subject interest directly relevant to the most dynamic of financial careers. Intended to meet the demands of the current complex international financial environment, the University of Reading�s ICMA Centre, based just west of Central London, has recently launched a new Masters degree in Financial Engineering. The program, due to begin in October 2008, will provide students with the opportunity to develop the skills necessary to operate in the international derivatives sector � particularly in the areas of equities, foreign exchange, interest rates and credit risk. With recruitment now open, applications are already being received from international students with strong backgrounds in the areas of finance, mathematics, business and accounting.
