Looking for the best countries to study Finance abroad but don’t know exactly where? It’s not usually easy to make a decision, especially when there are lots of variable and factors to bear in mind. Every scholar has their own requirements and preferences — and it’s quite easy to get lost in the amount of endless Bachelor’s and Master’s degree programs in Finance.
In this quick guide, we have made use of three main benchmarks to identify the Best Countries to Study Finance. These criteria are university tuition fees, top universities in international rankings and career opportunities for finance graduates.
This way, you can pick the best place to study a Finance degree, on the basis of available funds, or on the basis of how high-status the university is internationally, or on how high your likelihood of employment are following graduation.
Best Countries to Study Finance: tuition fees
For students that want to study Finance but don’t want to break the bank to do it, there are nations where tuition fees are low, or Finance studies are even without charge:
Almost all state-owned universities in Germany provide free Bachelor’s and Master’s degree programs. This applies to all fields, comprising Finance, and to all foreign students irrespective of their nationality.
As a student, you only have to pay the administration fee of around 100–350 EUR each semester. As for living expenses, you’ll require between 700 and 1,000 EUR each month.
France is another good destination as regards tuition fees. At state-owned universities, all foreign students pay tuition rates of less than 1,000 EUR each year at all study levels (Bachelor’s, Master’s, PhD). You must also know that French institutions of higher education are well respected globally.
In terms of living expenses, you’ll spend about 800–1,000 EUR in most cities, with the major exception being Paris. Here, expenses grow substantially, up to 1,500–1,800 EUR each month.
Norway, Denmark, Finland, Sweden
If you are from the European Union (EU) or the European Economic Area (EEA), you can enrol in a Finance program for free at state-owned universities in Finland, Denmark, or Sweden. Norway gets bonus points for applying the free-tuition policy to all foreign students.
As for expenses of living, these Nordic nations are generally more costly than other European nations. Based on the city in which you’ll reside and study, the monthly budget will vary between 700 and 1,400 EUR.
Best Countries to Study Finance: top-ranked universities
If you will not settle for any university and wish to study at the best of the best, these are the best universities for Finance studies based on the latest QS Rankings:
- Harvard University, the US
- Massachusetts Institute of Technology (MIT), the US
- Stanford University, the US
- The London School of Economics and Political Science (LSE), the UK
- University of Oxford, the UK
- University of Cambridge, the UK
- University of Pennsylvania, the US
- University of California, Berkeley (UCB), the US
- University of Chicago, the US
- New York University (NYU), the US
The schools listed below are other important universities which feature in the top 20:
- National University of Singapore (NUS), Singapore
- University of Melbourne, Australia
- Bocconi University, Italy
- HEC Paris, France
- The Hong Kong University of Science and Technology, Hong Kong SAR
As you can notice, the US and the UK make up the top 10. Therefore, if you wish to study at the best schools for Finance, these are the first places you should look at.
Check out the full QS Finance Ranking.
Best Countries to Study Finance: career opportunities
Not all cities are created the same; this is the reason you should aim to study in a nation or at least an area where Finance jobs — and chances in general — are abundant. Based on Investopedia, these are some of the most exhilarating cities for future Finance graduates:
The United States
- Boston, Chicago, New York, San Francisco
In the United States, the job outlook for roles like ‘Financial Analyst’ or ‘Financial Examiner’ is huge. The US Bureau of Labor Statistics reckons a growth of 5-7% in these fields in the coming 10 years. The median salary of about 81,000 USD each year shouldn’t be ignored either.
Looking for other reasons to become a Finance professional in America?
- New York is generally considered as the finance capital of the world
- A lot of investment groups and large banks have their headquarters in the US
- Chicago is a hotspot for trading
- Boston is famous for its asset management market and excelling businesses
The United Arab Emirates (UAB)
It’s well known that Dubai is looking to become the financial capital of the Middle East. And because of its fast development, it looks like this will be a reality sooner, rather than later. A lot of foreign organisations are opening branches and local offices there, which also brings about new opportunities for Finance professionals.
Furthermore to the option of studying for free in Germany, you can also search for a Finance job in Frankfurt, a city whose flourishing economy makes it the unofficial financial capital of Europe.
Frankfurt also plays host to large institutions, like the Deutsche Bank and other foreign organizations eager to hire the best candidates for their Finance-related roles.
Granted that Bern is the official capital of Switzerland, Zurich is without doubt its financial and banking capital. Main global giants in the banking and trading fields have their main offices here, and you can get a high-paying job at one of them.
Bonus tip: to further enhance your chances, speaking either French or German in addition to English is a great advantage!
- Hong Kong SAR
Hong Kong, a Special Administrative Region of China, is among the most significant financial cities in Asia. The city plays host to thriving banking, trading markets, and wealth management, which make it an appealing place for foreign companies.
If you are looking to earn big in a city where the Western and Eastern mentalities converge, Hong Kong should be at the top of your list.
Discover other cities perfect for Finance experts on the official Investopedia website.
Find more articles on Student Resources here