Are you thinking about taking a master’s degree in financial management? This guide will cover what you need to know about taking an online master’s degree and key questions to ask when comparing courses and universities.
Why Study Financial Management?
If you are already working in finance or accounting and looking to move up the career ladder, gaining qualifications in financial management can demonstrate your motivation and suitability for that next promotion.
In addition, further study can help you specialise in one of the many rewarding fields of financial management required for organisations and corporations to maintain their profitability and, ultimately, their success.
Financial Management at Postgraduate Level
At postgraduate level, financial management courses are designed to enhance both your theoretical knowledge and practical skills to be able to develop and lead a company’s strategy to maximise profits and secure long-term sustainability.
You’ll typically gain hands-on experience by applying theory to case studies, simulations, and projects to help you better understand and implement what you have learned to real-world situations. Studying at this level requires previous experience and qualification in finance or related fields.
What Will You Study?
Each Financial Management Master’s degree will have a slightly different structure and syllabus. Some programmes may only cover a few of the areas listed below, while others may have a broader curriculum but with less depth.
Main areas of Financial Management
- Financial Planning and Analysis (FP&A)
- Investment Management
- Capital Structure Management
- Working Capital Management
- Risk Management
- Treasury Management
- Financial Reporting and Compliance
- Tax Management
- Corporate Governance
- Payroll and Compensation Management
MSc Financial Management Course Structure
Online Master’s degrees in financial management typically start with compulsory core modules covering fundamental areas of finance, followed by a choice of one or more elective/specialisation modules allowing you to choose an area of specialisation.
The module examples below are indicative. When researching courses, you will find a wide range of core and specialisation modules offered by UK universities.
Core Module Examples:
- Financial Decision Making
- Data Analysis and Statistical Techniques
- Corporate Finance
- Ethics, Governance and Regulation in Treasury
- Financial Modelling
- Business Valuation and Financial Statement Analysis
Specialisation/Elective Module Choice Examples
- Mergers and acquisitions
- Financial Instruments
- Financial Markets and Investments
- Business research methods
- Corporate Risk management
The final third of a master’s degree comprises a dissertation or self-directed final project. For online students, this work can be leveraged to solve an existing problem in the organisation you are working for in exchange for support with the fees from your company. If you want to stay with your current employer, pitching this as a benefit can be used to get company funding for your studies. This guide has more information about approaching your employer for help with course fees.
Online Learning Format
Online MSc Financial Management courses are usually 100% online, although some courses have optional campus workshops.
Most online Master’s degrees don’t require you to attend live lectures or tutorials. Universities do understand, though, that students taking their online courses are usually balancing work and study, so they generally offer flexibility around live events if they have them as part of the course.
Studying at postgraduate level, learners are expected to be proactive, self-disciplined, and able to work through the course with the tutor offering support to ensure their studies are on the right track.
Flexibility can be a key factor in selecting where to study for online students juggling work and family commitments. Most universities have invested in providing dedicated support for their online students in addition to tutors. When comparing online programmes, it’s good to ask what support is available, with some universities offering optional short classes on study skills and time management.
We have more information about online learning in this guide.
Course Duration
A master’s degree in Financial Management comprises 180 CATS points (Credit Accumulation and Transfer Scheme), or course ‘credits’. This equals approximately 1,800 total study hours. When reviewing courses, you will often see modules given credit values. A 15-credit module is considered to involve 150 hours of study.
Online part-time study allows you to break down your study hours into manageable chunks to fit your studies around your other commitments. Our part-time study calculator will give you an idea of how long it would take to finish your MSc based on the hours you could dedicate to the course on a typical week.
Effective time management is critical when studying for an online master’s alongside your full-time job and other commitments. When researching your course options, we advise asking how flexible the course schedule is and how many hours a week they recommend you will need to help you determine whether you can manage the course commitments.
Accreditation and Recognition
When comparing Financial Management MScs, you will come across programmes with additional professional body accreditation. The two main finance and accounting bodies in the UK are the ACCA (the Association of Chartered Certified Accountants) and CMI (Chartered Management Institute).
Professional body accreditation can reassure some applicants about the course quality and, upon graduation, normally means a fast-track application to become a member of that professional body. However, getting the accreditation can be a costly and time-consuming process, which some universities simply do not bother with. This means that accreditation is “nice to have”, but not having accreditation does not reflect a course’s quality.
Additionally, if you are an international student exploring online Financial Management courses, it’s important to keep in mind that for universities to have degree-awarding authority in the UK, they need to be recognised and accredited by the UK Government – find out how to check if a university is accredited in the UK.
Entry Requirements
To apply for an MSc in Financial Management, you’ll usually need:
- A 2:2 UK Bachelor’s honours degree or international equivalent in a relevant subject
- An IELTS score of 6.5 or above if English isn’t your first language
If you don’t have a degree, some universities may also consider relevant work experience and professional qualifications for their Master’s programmes. If this applies to you, we advise you to check with your preferred university to see whether you meet their entry requirements based on your professional experience.
Start dates
Start dates for online MSc Financial Management courses are usually in January and September each year, but some UK universities may offer monthly or quarterly enrolments.
Application Deadlines and Process
Finance is a popular subject, and places on some online MSc Financial Management courses can be competitive, so it’s wise to submit your application as early as possible.
We recommend that you apply at least three months before the deadline. This will give you enough time to prepare your documents and organise course funding.
The documents you need to apply for an online MSc in Financial Management usually include:
- An online application form
- CV
- Personal statement
- Previous certificates and transcripts
Age and Experience
Online MSc Financial Management courses are popular among working professionals who want to change careers and move into finance or build on their existing finance knowledge and skills.
Studying an online MSc Financial Management as a mature age student gives you the opportunity to:
- Gain a promotion and higher salary within your current organisation, or pursue higher-paid and more senior finance roles with other organisations.
- Leverage your professional experience to drive success in your studies.
- Expand your finance knowledge, skills and career opportunities through a global network of like-minded professionals on your course.
Course Costs
Costs involved in studying an online MSc Financial Management include:
Tuition fees – These can range from £7,000 to £34,000, depending on the university. Check course pages for specific fee details.
Other costs – If your chosen course requires you to complete exams, you may also need to pay fees for exams, including travel-related expenses if you need to travel to an exam centre.
We recommend that you ask the admissions team if any additional costs are involved on top of the tuition fees.
Funding Options
Financial Support
If you’re a UK resident studying for a master’s degree online , you could be eligible for a Master’s Loan — a government-funded loan that can cover the costs of your course. With a Master’s Loan, you’ll only need to make loan repayments once you earn over a set amount. This article has more information about getting a Master’s Loan for an online study.
See our guides on funding options for online study.
Scholarships and Grants
Many UK universities offer grants, scholarships and bursaries. That’s why it’s a good idea to check with your chosen university if they offer any of these options before you decide how you’ll fund your studies.
You can also visit The Scholarship Hub website for information on UK grants, scholarships and bursaries that may be available.
If you’re a registered UK Study Online subscriber and meet our eligibility criteria, you’ll be entered into a draw to receive a scholarship that can be used towards your course tuition fees.
