10 Best Countries to Study Finance: Top Universities, Fees, & Starting Salaries

Career
26 Jun 2024
16 mins read
Written by pranit

The best countries to study finance are the USA, UK, Canada, Australia, Singapore, Germany, Switzerland, France, the Netherlands, and Hong Kong.

 

A finance career is lucrative and fulfilling, with high demand worldwide. If you’re detail-oriented, organized, and skilled in data analysis, consider pursuing finance abroad. Higher quality education, booming employment opportunities, and rich global exposure are some benefits you can get by enrolling for an accounting and finance degree abroad. 

 

We have listed the 10 best countries for masters in finance to help you make an informed decision. 

Do you know?

  • An annual salary survey by Robert Walter suggests that around 37% of surveyed financial professionals expect a good pay increase in 2024.[1]
  • About 126,500 job openings for auditors and accountants are projected annually, for over a decade.[2]
  • According to the US Bureau of Labor Statistics (BLS), finance jobs offer an average salary of $ 76,850, about 66% higher than all the others.[3]

Why do students pursue finance abroad?

  • High-quality education: This is the primary reason an increasing number of Indian students are going abroad to pursue their finance degrees. Many countries offer excellent finance degree programs with top-notch curriculums and reputed faculties that may not be available in domestic institutes. 
  • Global exposure: Studying finance abroad exposes you to global financial markets, trends, regulations, and best practices. This, in turn, empowers you with an international perspective while helping you enhance your skills. 
  • Better career opportunities: Most students choose finance programs abroad due to lucrative job opportunities in the global finance sector. In other words, numerous high-paying job prospects are available right after your finance degree program. 
  • Networking opportunities: Studying abroad allows you to connect with professionals in the global finance industry. This, in turn, opens doors to thriving prospects and a chance to accelerate career growth. 
  • Unique cultural experiences: Above all, pursuing a career in finance goes beyond lucrative job opportunities and financial stability. It offers an opportunity to gain unique experiences by meeting new people, learning about new cultures, and expanding your professional horizons. 

Quick glance: 10 best countries to study finance

 

Countries to study abroad

Top Universities

Single Person Estimated Cost of Living (USD per month)

United States

  • Harvard University 
  • Stanford University
  • Massachusetts Institute of Technology (MIT)
  • University of Pennsylvania
  • University of Chicago

$2433

United Kingdom

  • London School of Economics and Political Science
  • University of Cambridge
  • Oxford University 
  • Imperial College London
  • Warwick Business School

$2183

Canada

  • University of Toronto
  • McGill University 
  • University of British Columbia
  • University of Alberta

$2042

Australia

  • University of Melbourne 
  • University of Sydney 
  • ANU College of Business and Economics
  • Monash University
  • University of New South Wales

$2293

Singapore

  • National University of Singapore
  • Singapore Management University 
  • Nanyang Technological University 
  • INSEAD
  • SIM University 

$3007

Germany

  • Frankfurt School of Finance and Management 
  • EU Business School
  • Ludwig Maximilan Universität München 
  • Goethe University Frankfurt 

$1581

Switzerland 

  • ETH Zurich
  • University of Zurich
  • University of Geneva
  • University of Lausanne

$2896

France

  • HEC Paris Business School
  • INSEAD
  • ESSEC Business School
  • Emlyon Business School

$1542

Netherlands 

  • Erasmus University Rotterdam
  • University of Amsterdam 
  • Tilburg University 
  • Maastricht University 

$1945

Hong Kong

  • University of Hong Kong
  • The Chinese University of Hong Kong
  • City University of Hong Kong

$2614

 

Source: Cost of living (Livingcost.org)

 

Notes: 

  • Cost of living includes average costs for transportation and basic amenities like food and grocery bills, etc. The cost of living excludes rent.

10 Best countries to study finance abroad

Choosing the perfect location to study finance abroad is the initial stride toward crafting a thriving international career. Here’s a list of prime destinations to study finance overseas, simplifying your decision-making.

 
1. United States of America

The USA tops the list for the best country to study finance for Indian students. From prestigious universities like Harvard and MIT to a wide range of finance programs, there are many reasons why the USA is a highly sought-after destination for pursuing bachelor’s and master’s degrees in finance. In addition, students pursuing finance in the States benefit from the increasing job prospects and networking opportunities provided by top universities. 

 

Top Universities

 

Top Universities

QS World University Rankings 2024 

Harvard University 

4

Stanford University 

5

Massachusetts Institute of Technology 

1

 

Top finance courses

  • MBA in Finance
  • Chartered Financial Analyst Program (CFA)
  • M.Sc in Finance

 

Average tuition fees

  • For Bachelor’s Degree in Finance: USD 20,000 – USD 50,000 yearly. 
  • For Master’s Degree in Finance: USD 20,000 – USD 90,000 yearly. 

 

Student visa cost

The student visa cost for the USA ranges between USD 500 to USD 550. 

 

Part-time jobs

Students can work up to 20 hours per week during their semesters in the USA. Some of the highest paying part-time jobs in the US include Sales Representatives, Call Centre Representatives, Tutors, Librarians, etc. 

 

Starting salary

The starting salary for finance jobs depends on various factors such as level of education, job title, company, etc. Based on these factors, it can range from USD 72K to USD 100K per year. 

 
2. United Kingdom

The United Kingdom is the global financial hub making it an attractive destination to pursue finance education abroad.  Many world-class institutions like the University of Cambridge, Oxford University, London Business School, etc., offer unparalleled opportunities for students to grow their careers and access a huge network of finance professionals. 

 

Top universities

 

Top Universities

QS World University Rankings 2024 

University of Oxford

4

London Business School

13

University of Cambridge 

7

Imperial College London 

20

The London School of Economics and Political Science

6

 

Top finance courses

  • B.Sc in Finance
  • M.Sc in Finance
  • Master of Finance 

 

Average tuition fees

  • For Bachelor’s Degree in Finance: £15,000 to £35,000 yearly. 
  • For Master’s Degree in Finance: £25,000 to £45,000 yearly. 

 

Student visa cost

The cost of obtaining a student visa for the UK is approximately £363 plus health surcharge based on individual profile.

 

Part-time jobs

International students in the United Kingdom can work up to 20 hours per week during their semesters and up to 40 hours per week during their semester breaks. The highest paying part-time jobs in the UK include waiter, tutor, lab assistant, etc. 

 

Starting salary

Depending on the level of education and type of course, a finance student can earn a base pay ranging from £32K to £63K per year. 

 
3. Canada

Canada’s diverse learning environment and multicultural and robust financial market make it a perfect destination for pursuing a master’s and bachelor’s in finance. 

 

The best part about studying finance in Canada is the availability of high-paying jobs after completing the course. With in-demand positions like Financial Analysts, students can earn up to CAD 80k-85k per year, in the initial phase of their careers. 

 

Top Universities

 

Top Universities

QS World University Rankings 2024 

University of Toronto 

15

University of British Columbia 

26

McGill University 

48

University of Alberta

101-150

 

Top finance courses

  • Master of Finance 
  • Chartered Financial Analyst (CFA)
  • MBA/BBA in Finance 

 

Average tuition fees

  • For Bachelor’s Degree in Finance: CAD 15,000 to 50,000 yearly. 
  • For Master’s Degree in Finance: CAD 30,000 to CAD 88,000 yearly. 

 

Student visa cost

The student visa cost for Canada is approximately CAD 150 to CAD 160. 

 

Part-time jobs

Part-time jobs are readily available for international students in Canada. Such jobs allow them to manage their living expenses during their studies. Some of the best part-time jobs in Canada include dog walker, tutor, customer representative, etc. 

 

Starting salary

The estimated base pay for finance jobs in Canada ranges from CAD 52K to CAD 88K. 

 
4. Australia

Australia is known for offering some of the best finance study programs in the world. It is an emerging financial hub with ample perks like higher salaries, great work-life balance, notable social security benefits, and more.

 

Studying in Australia provides a high return on investment (ROI) due to its abundant career opportunities compared to other countries.

 

Top universities

 

Top Universities

QS World University Rankings 2024 

University of New South Wales

20

University of Melbourne 

24

University of Sydney 

28

Monash University 

35

Australian National University 

42

 

Top finance courses

  • B.Com in Finance
  • M.Com in Finance
  • Master of Applied Finance

 

Average tuition fees

  • For Bachelor’s Degree in Finance: AUD 20,000 to AUD 50,000 yearly. 
  • For Master’s Degree in Finance: AUD  22,000 to AUD 50,000 yearly. 

 

Student visa cost

The total cost of obtaining a student visa for Australia is around AUD 650 to AUD 700.

 

Part-time jobs

There are plenty of part-time jobs available for international students in Australia. However, students are limited to 48 hours of work within 15 days.. The highest paying student jobs in Australia include caregivers, tutors, servers, kitchen helpers, etc. 

 

Starting salary

After completing their finance studies in Australia, freshers can earn between AUD 70K and AUD 100K. 

 
5. Singapore

Singapore is considered the top financial centre of Asia and a world leader in terms of innovation and economic growth. Moreover, the government of Singapore promotes finance education by offering several incentives and scholarships to attract international students. 

 

By completing your finance degree in the diverse educational landscape of Singapore, you can ensure a successful and fulfilling career. 

 

Top universities

 

Top Universities

QS World University Rankings 2024 

National University of Singapore 

14

Nanyang Technological University 

22

Tsinghua University 

25

Singapore Management University 

59

 

Top finance courses

  • M.Sc in Financial Management 
  • BBA in Finance 
  • Chartered Financial Analyst Program

 

Average tuition fees

  • For Bachelor’s Degree in Finance: SGD 10,000 to SGD 75,000 yearly. 
  • For Master’s Degree in Finance: SGD 20,000 to 45,000 yearly. 

 

Student visa cost

The cost of obtaining a student visa for Singapore is around SGD 60 to SGD 90. 

 

Part-time jobs

Although part-time jobs are available in Singapore, there are certain restrictions on students. This is mainly to prevent students from hampering their studies due to work. 

 

Starting salary

The average base pay range for finance professionals in Singapore is SGD 3,000 to SGD 6,000 per month. 

 
6. Germany

Germany is known for its world-class education system. It is home to some of the most reputed universities in the world offering a wide range of finance-based programs. Germany is the best country for Indian students who want to study finance abroad but have a limited budget. Plenty of reputed public universities offer finance programs at zero tuition fees. 

 

Top universities

 

Top Universities

QS World University Rankings 2024 

Universität Mannheim

81

Ludwig-Maximilian Universität 

92

Goethe University Frankfurt am Main

101-150

Humboldt Universität 

101-150

Technical University of Munich

101-150

 

Top finance courses

  • M.Sc in Finance 
  • B.Sc in Finance 
  • MBA in Finance

 

Average tuition fees

  • For Bachelor’s Degree in Finance: From no tuition fees at public universities to up to €15,000 annually at private universities.
  • For Master’s Degree in Finance: €10,000 to €17,000 per year (at private universities), no tuition fee at public universities. 

 

Student visa cost

The cost of obtaining a German student visa is around €75 to €80. 

 

Part-time jobs

In Germany, students can work 20 hours per week or up to 80 hours per year during their studies. Some of the highest-paying part-time jobs in Germany are receptionist, delivery driver, tutor, kitchen staff, etc. 

 

Starting salary

The average salary for finance in Germany is around €66,000 per year. Most fresh graduates can earn a base pay ranging from €46,000 to €75,000 based on their level of education and expertise. 

 
7. Switzerland

Switzerland has a reputation for its proficiency in the banking and financial sector making it one of the best countries to study finance abroad. With a growing economy and multicultural society, Switzerland provides a wonderful environment for finance enthusiasts to study and grow their careers. 

 

Top universities

 

Top Universities

QS World University Rankings 2024 

ETH Zurich

40

University of Zurich

87

University of St. Gallen

88

University of Lausanne

101-150

University of Geneva

201-250

 

Top finance courses

  • Executive Masters in Finance 
  • M.Sc in Banking and Finance
  • B.Sc in Banking and Finance 

 

Average tuition fees

  • For Bachelor’s Degree in Finance: CHF 20,000 to 40,000 per year. 
  • For Master’s Degree in Finance: CHF 11,000 to 44,000 per year. 

 

Student visa cost

The cost of getting a Switzerland student visa ranges from CHF 88. 

 

Part-time jobs

The hourly pay rates of part-time jobs in Switzerland are very impressive compared to other countries. Most students take up jobs in tutoring, hospitality, office management, etc., to sustain a comfortable lifestyle in Switzerland. 

 

Starting salary

The starting salary for finance in Switzerland ranges from CHF 97K to CHF 100K yearly. Please note that the salary can vary based on education level, job profile, location, and other factors. 

 
8. France

Paris is the financial capital of Europe, no wonder why it is the dream destination of students planning to build their careers in France and globally. Studying finance in France opens doors to global markets and interactions with multinational financial firms.

 

Besides, studying in France also allows you to become a part of the vibrant culture of the country and add to your lifetime experiences. 

 

Top universities

 

Top Universities

QS World University Rankings 2024 

HEC Paris Business School 

18

INSEAD

41

Université PSL

57

ESSEC Business School 

74

Université Paris 1 Panthéon-Sorbonne

79

 

Top finance Courses

  • B.Sc in Finance 
  • M.Sc in Financial Engineering 
  • BBA/MBA in Finance 

 

Average tuition fees

  • For Bachelor’s Degree in Finance: €10,000 to 35,000 yearly. 
  • For Master’s Degree in Finance: €12,000 to €40,000 yearly. 

 

Student visa cost

The student visa cost for France is around €99. 

 

Part-time jobs

Students’ jobs in France are available in abundance. Students can earn enough to cover their necessary expenses while studying. The most popular part-time jobs include language instructors, waitstaff, tutors, receptionists, tour guides, etc. 

 

Starting salary

The estimated base pay range for finance in France is €40K to €60K yearly. In addition, an additional cash compensation ranging from €3K to €10K is also offered above the salary. 

 
9. Netherlands

The Netherlands is known for its fast-forward and innovative approach to the financial sector. There are many business schools with moderate fees to set up a successful career in banking and finance. Besides, there are many other advantages of studying in the Netherlands. These include a higher quality of life, affordable living costs, and a multicultural environment. 

 

Top universities

 

Top Universities

QS World University Rankings 2024 

Erasmus University Rotterdam 

42

University of Amsterdam 

49

Tilburg University 

61

Maastricht University 

151-200

University of Groningen

151-200

 

Top finance courses

  • B.Sc in Finance
  • M.Sc in Financial Management 
  • Master of Financial Management 

 

Average tuition fees

  • For Bachelor’s Degree in Finance: €8,000 to 10,000 per year. 
  • For Master’s Degree in Finance: €8,000 to €20,000 per year. 

 

Student visa cost

The student visa fee for the Netherlands is around €80 to €100. 

 

Part-time jobs

Although many part-time jobs are available for international students, They’re limited to 16 hours of work per week during semesters.

 

Both on-campus and off-campus jobs are available -such as Student Assistants, cashiers, waiters, delivery agents, babysitters/senior caregivers, etc. 

 

Starting salary

The starting salary range for finance jobs in the Netherlands is around €50K to €80K per year. The pay range can vary based on job profile, location, work experience, education level, and more. 

 
10. Hong Kong

Hong Kong, the Special Administrative Region of China, is the most prominent financial region in the world. 

 

This Asian city is home to thriving financial firms, banking institutions, trading markets, etc. offering a rich practical experience to students enrolled in its finance universities. 

 

Top universities

 

Top Universities

QS World University Rankings 2024 

University of Hong Kong

31

The Hong Kong University of Science and Technology 

34

The Chinese University of Hong Kong

36

Hong Kong Polytechnic University 

61

The City University of Hong Kong

70

 

Top finance courses

  • BBA in Finance 
  • Master in Finance 
  • Chartered Financial Analyst (CFA) Program

 

Average tuition fees

  • For Bachelor’s Degree in Finance: HKD 100,000 to HKD 200,000 yearly. 
  • For Master’s Degree in Finance: HKD 90,000 to HKD 265,000 yearly. 

 

Student visa cost

The cost of obtaining a student visa for Hong Kong is around HKD 200 to HKD 250. 

 

Part-time jobs

Similar to other countries, international students can take up part-time employment to support their living expenses while studying. The most popular student jobs in Hong Kong are waitstaff, retail sales assistants, officer admins, tutors, etc. 

 

Starting salary

The starting salary of finance professionals in Hong Kong ranges from HKD 18K to HKD 40K per month. Besides, an additional cash compensation ranging from HKD 2,700 to HKD 6,600 (approximately) can be expected. 

Other upcoming emerging countries to study finance abroad

Apart from the ones listed above, many other countries have started offering great undergraduate and postgraduate programs for finance. Some of the best ones are as follows:

  • UAE
  • China
  • Brazil
  • Malaysia
  • South Africa

Top 10 highest paying jobs in finance

 

Job title

Annual salary range  (USD)

Chief Financial Officer (CFO)

$330,800 to $560,200 

Chief Compliance Officer (CCO)

$206,001 to $290,201

Hedge Fund Manager

$123,771 to $153,016

Portfolio Manager

$99,990 to $140,240

Economist

$80,149 to $108,947

Insurance Advisor

$73,393 to $91,484

Management Analyst

$73,393 to $91,684

Financial Analyst 

$71,000 to $103,000

Investment Banker

$56,759 to $479,332

Tax Accountant

$49,965 to $108,940

Why is Instarem the best Option for International students?

 

Pursuing a career in Finance abroad is rewarding. However, the study abroad brings challenges of its own. 

 

One of the most common issues encountered by international students abroad is making cross-border fund transfers. Issues like hefty exchange rates, security threats, higher transaction costs, etc., cause a lot of inconveniences. 

 

This is where you need a reliable international money transfer platform like Instarem. Ranked among the best money transfer options for international students, Instarem offers affordable@ transfer rates, cost-efficient currency exchange rates and a secure fund transfer channel. 

 

With Instarem’s easy-to-use fund transfer application, you can make transactions in a fast** and obstacle-free manner. What’s more? You earn exciting rewards like InstaPoints that can be redeemed for discounts on future transactions. 

Before you go…

Finance is among the most attractive career options in the world. From increasing job opportunities to high-paying salaries, there are many benefits to pursuing finance in foreign countries. 

 

But to enjoy these perks and ensure a successful future, it is important to pursue the right course from the right university and the best destination. 

 

We have listed the best countries to study finance in 2024 to help you take the first step. Now it’s your turn to make an informed decision by choosing the best destination based on your goals, preferences and budget. 

FAQ’s

Q. Which country is best for finance?

The US is one of the best countries to study finance as it has top ranking universities like Stanford, Harvard, MIT, etc.

 

Q. Which field of finance is most in demand?

While all finance-related specialisations are popular, profiles like financial analysts, financial examiners, Fintech officers, etc. receive an increasing demand.

 

Q. Is finance a good career abroad?

Yes. Finance is an excellent career option abroad due to the increasing demand for finance professionals worldwide.

 

Q. Which country is the cheapest to study master’s in finance abroad?

Germany is one of the cheapest countries to study finance. Most public universities in the country offer a wide range of finance programs at zero tuition fees.

 

Q. Can I study finance after 12th abroad?

Yes. After completing your 12th, you can enrol into undergraduate programs like B.Sc, BBA, B.Com with Finance as a major.

 

Q. Which country is best to pursue masters in finance abroad with a scholarship?

The USA, Germany and Australia are some of the best countries that offer plenty of scholarships for master’s programs in finance.

 

 

Related Blogs:

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10 Best Countries To Study Data Science

Top 10 countries to study MBA

10 Best Countries for Mechanical Engineers

10 Best Countries for Chartered Accountant Jobs

10 Best Countries for Software Engineers

 

 

Citations:

  1. https://www.robertwalters.be/insights/hiring-advice/blog/hiring-trends-accounting-finance.html
  2. https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
  3. https://www.bls.gov/ooh/business-and-financial/home.htm

 

 

Disclaimers:

This article is intended for informational purposes only. All details are accurate at the time of publishing. Instarem has no affiliation or relationship with the products or vendors mentioned.

*Fast meaning 75% of our transactions are completed in 15 minutes. Depending on the funding method.

@ When it comes to affordable exchange rates and fees, it’s worth noting that the cost will vary depending on how you choose to fund your transactions. Credit card funding and bank transfer fees can differ significantly. 

Note: Fees, student visa cost, starting salary, rankings, and average cost of living are taken from different websites on 31th May 2024 and are subject to change.

About Instarem

Instarem stands at the forefront of international money transfer services, facilitating fast and secure transactions for both individuals and businesses. Our platform offers competitive exchange rates for popular currency pairs like USD to INR, SGD to INR, and AUD to INR. If you're looking to send money to India or transfer funds to any of 60+ global destinations, Instarem makes it easy for you. We are dedicated to simplifying cross-border payments, providing cutting-edge technology that support individuals and businesses alike in overcoming traditional fiscal barriers normally associated with banks. As a trusted and regulated brand under the umbrella of the Fintech Unicorn Nium Pte. Ltd., and its international subsidiaries, Instarem is your go-to for reliable global financial exchanges. Learn more about Instarem.

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