It's not just for business students...
If you've got a strong background in maths, stats or econometrics – maybe from undergrad study in those areas or related subjects like science or business – you might benefit from life as a finance postgrad. Here are some of the things it can offer...
1. You'll go deep into the subject
Undergrad study gives you a broad, solid grounding and starts you on the journey of exploring an area that interests you, and for lots of people it's everything they need.
But if you want more, postgrad study will take you further. A finance Master's (or a related one like finance and economics, mathematical finance, or finance and accounting) will go in two directions: into the theory, and into the practice. You'll spend more time looking at the systems and ideas that underpin modern finance, and balance that exploration with a look at how to really apply that knowledge.
In short: postgrad study means levelling up, in all kinds of ways. You'll love your shiny new knowledge and the achievements it unlocks. Even better, so will employers.
2. You'll make professional connections
If you want, you can take all of that deep know-how and just enjoy having it - it will come in handy and give you unique insight into the workings of the world.
On the other hand, you can harness the power of the business school where you study to build an enviable network that will power up your career. Part of a finance Master's will involve learning from financial services professionals, economists, tech entrepreneurs and more, either as part of your studies or at networking events.
Why is that good? You'll gain insight into the sector as it really is and meet people who can help guide you through it as you begin to establish yourself. You'll also make friends and connections with the folks on your course – ones that will stay with you throughout your working life, as a support network, sounding board and source of different opportunities.
That was Luke Jeeves’ experience on a financial mathematics Master's programme. “Within the first week the school organised seminars from industry experts across a wide array of sectors, to give students insight into a variety of careers.”
In a way, this is one of the most important things postgrad study offers, as unis have had decades to build their links with employers and experts. It's all there for you. Take an open-minded approach and by the time you leave you'll have plenty of industry expertise and people in your network ready to help you get skills, find jobs and uncover new ideas.
3. You'll develop skills for now
You can expect a finance Master's course to introduce you to the essential theories, economic models and concepts that you'll need to work in a finance-related role. You'll probably be using group problem-solving exercises, case studies and presentations to make sure you can apply your knowledge in the real world.
Course modules should demonstrate real-world applications of theoretical content. In other words: you'll know why the ideas matter, and also what they look like inside living, breathing businesses.
Business schools know that you'll need tech skills to make it in the modern workplace, so you'll spend time in computer labs using the latest software to simulate economic conditions, make calculations and think about the road ahead. Which leads us to...
4. You'll develop skills for the future
The pace of change is accelerating all the time, especially in areas like artificial intelligence and machine learning. How are they going to impact our economic forecasts and models? What changes will they bring to the way we understand financial markets, commerce, even the very concept of trade or transactions?
Business schools are already pondering these questions, and will aim to equip you with the knowledge to either understand and work with these new systems, or be at the forefront of designing and developing them. (Although if anyone suggests robots and wild west theme parks, walk away.)
5. You'll change the way you think
We're talking about shifting your mindset from 'receive' to 'send'. Sure, a finance Master's can give you the skills and show you how to apply them. But it should also encourage you to interrogate the systems and theories you study. How could they develop? What new ideas can you bring to them?
You'll also consider the consequences of the way businesses and markets operate, covering key areas like ethics, financial regulation and corporate governance. It's going to be up to you to make sure the system behaves itself in the future. We're relying on you to keep those markets and machines in line.
Wherever you take it - a career in international finance, starting your own UK business, even running a juice shack on a beach somewhere - a finance Master's can enrich your understanding of the world and help your options add up to an interesting future.
Our partnership with Lancaster University Management School
Lancaster University Management School (LUMS) is one of the longest-established business schools in the UK and home to a thriving and truly international community.
We are a triple-accredited research-intensive business school that combines world-class research with excellent teaching and high levels of student satisfaction. We welcome students and staff from more than 180 countries and have a presence in 24 countries, including campuses in China, Germany, Ghana and Malaysia.
We challenge and support our creative staff, students and partners to realise their ambitions as they experience a transformational journey that leads to real impact on whole industries, societies and economies.
Lancaster University is among the best in the UK, and has been the top university in the northwest of England for more than a decade.
To find out more, visit the Lancaster University Management School website.
