What Do You Do In a Master of Finance?
Discover what’s involved with studying for a Master of Finance degree. Let’s explore the subjects and coursework, career paths, and benefits.
Prepare for jobs in portfolio management, corporate finance, financial analysis, and more.
When you study for a Master of Finance degree, you do advanced financial training to prepare you for careers in areas such as investment banking, business finance, financial analysis, and wealth management.
The core subjects in your program may include corporate finance, financial markets and institutions, investments, portfolios, risk management, and quantitative methods. Some programs, especially shorter ones, require you to have a strong financial background before commencing.
As a graduate, you will have skills to pursue lucrative careers in the finance industry. You will stand out in a competitive job market and have greater earning potential. The highly recognised qualification serves as a permanent, strong endorsement of your financial capabilities.
What Do You Do in the Program?
A Masters in Finance normally consists of several core subjects and a set of electives in specialised fields. Lerna Courses reviewed the curriculums of more than a dozen programs to identify which subjects are being taught at Australian universities. Here are the results, along with related careers.
Salary source: Seek job listings
1. Portfolio management
Almost every finance master's program in Australia covers the topic of portfolio management. Students learn to plan and manage investment portfolios to achieve defined financial goals. To succeed in this career, you need skills to analyse market trends, assess risk, and allocate assets. Professionals in this field analyse investment opportunities, manage risks, and optimise returns. They meet the financial objectives of clients, which may be individuals or institutions.
Job titles: portfolio manager, investment analyst, financial advisor, asset manager, fund manager.
A portfolio manager typically earns around $140k annually in Australia. Portfolio managers oversee investment strategies. A managed portfolio should align with clients' goals while maximising returns and handling risks.
2. Corporate finance
Another core subject in postgraduate finance programs is corporate finance. In this field, you learn how to manage a company's financial activities, from capital investment decisions to financial planning and risk management. The curriculum covers topics like capital structure, funding, and investment strategies. Students develop skills in financial analysis, budgeting, and strategic planning.
Job titles: corporate finance manager, financial analyst, chief financial officer, director of finance, financial controller.
A finance director typically earns around $200k annually in Australia. The role is to oversee a company's financial planning and budgeting processes. Finance directors guide a company towards financial stability and growth based on strategic analysis.
3. Financial analysis
In financial analysis classes, you learn to evaluate a company's financial data to assist decision making. Coursework includes training in financial statement analysis, forecasting, and valuation techniques. Students develop the ability to interpret finances, identify trends, and provide insights within professional compliance frameworks.
Job titles: financial analyst, investment analyst, business analyst, equity analyst.
The average salary for a financial analyst is $110k per year. Financial analysts examine financial data, create reports, and provide recommendations to help businesses to makes investments, manage costs, and plan strategically.
4. Investment management
Investment management is where you manage assets and investments for individuals, companies, or institutions. Courses cover portfolio theory, asset allocation, and investment strategies. Students gain skills to analyse market trends and evaluate investment opportunities.
Job titles: investment analyst, investment manager, portfolio manager, fund manager, asset manager.
An investment analyst makes an average salary of $125k in Australia. They evaluate financial data and market trends to provide recommendations. Investment managers, who earn about $190k per year, oversee investment portfolios.
5. Risk management
Risk management is an essential component of many finance master's programs. In this field, you learn to identify, assess, and mitigate financial risks that businesses face. The coursework covers risk assessment techniques, regulatory compliance, and strategies for risk mitigation.
Job titles: risk manager, risk analyst, compliance officer, risk consultant.
A risk manager typically earns around $140k annually in Australia. Risk managers assess potential financial threats, develop strategies to minimise risk, and ensure that companies comply with regulations.
6. Ethics in finance
Ethics in finance is a common core subject in finance master's programs. Students explore topics such as ethical decision-making, corporate governance, and regulatory compliance. You learn to identify ethical dilemmas and develop skills to handle them responsibly.
While ethics in finance is not typically a standalone career, it is integral to most roles. Professionals such as financial analysts, investment managers, and risk managers adhere to ethical standards to maintain trust and credibility in their work.
7. Financial markets
Financial markets is a subject covering market dynamics, regulatory frameworks, and financial instruments. Students learn how financial markets operate and how institutions like banks and investment firms function within these markets.
Job titles: head of finance, chief financial officer, financial controller, director of financial planning and analysis, investment banking analyst.
A financial controller has an average annual salary of around $150k. Financial controllers oversee financial reporting, budgeting, and compliance. This career requires a strong understanding of financial markets to manage risks and support strategic decisions.
Related: Best Finance Degrees Online in Australia
What is a Master of Finance?
A Master of Finance program offers specialised training for careers in corporate finance, financial analysis, financial planning, and investment management. These careers require advanced skills beyond what a business or commerce bachelor's degree provides.
Programs typically last 1 to 2 years, depending on your background. Longer programs include introductory subjects for those new to finance, while shorter programs focus on advanced topics for finance graduates. If you lack finance qualifications, consider a longer master's program or start with a Graduate Certificate in Finance.
Electives allow you to adapt your studies to your interests and career goals. Some programs offer majors or minors through grouped electives.
Popular electives include Entrepreneurship and Innovation, Law Regulation and Ethics, Technical Tools for FinTech, Decentralised Finance, Robo Advisory and Portfolio Optimisation, Principles of Programming, International Financial Management, and Strategic Management.
Master of Applied Finance programs focus on practical application, with less theory. The term applied finance refers to the practical application of financial knowledge and techniques.
Why This Degree is Worth it
A Master's degree in Finance is often worth the investment because you gain a strong grasp of a high-value business discipline. The skills learned, including analytical ability and decision making, are respected and in-demand across industries.
Financial expertise is valuable in many fields, including corporate management, strategic planning, investing, risk management, and other areas that rely on sound money management and financial decision-making.
The salary potential for graduates is high, with most finance professionals in Australia earning six-figure base salaries. Additionally, earning the master's degree can open doors to leadership roles.
While the program can be challenging, requiring students to grapple with sophisticated concepts, the education is valuable. With the right mindset, preparation, and dedication, students can succeed in their studies and careers.
Related: Is a Master of Finance Worth It?
Learning Outcomes
Finance programs help you achieve professional goals. You are taught financial knowledge and how to analyse and evaluate money issues. Students also learn how to effectively communicate complex financial information.
A Master of Finance in Australia teaches financial management principles, the workings of markets, and specialised skills. Graduates are knowledgeable about a broad range of money-related fields, skilled in modelling, and are problem solvers on monetary matters.
Specific learning outcomes include an understanding of business finance, securities trading, investments, portfolio construction, derivative pricing, and risk management. Graduates are able to apply theory to company valuation. They are also know how to conduct financial research, and can work independently or collaboratively on problems.
Highest Paying Jobs
Some of the highest-paying jobs for MFin degree holders include directing finances, corporate finance, investment banking, private equity, portfolio management, and risk management.
Top 10 average salaries for finance jobs in Australia
| Rank | Top 10 Jobs | Average Salary |
|---|---|---|
| 1 | Chief Financial Officer | $225,000 |
| 2 | Finance Director | $200,000 |
| 3 | Investment Manager | $190,000 |
| 4 | Head of Finance | $185,000 |
| 5 | Financial Controller | $150,000 |
| 6 | Portfolio Manager | $140,000 |
| 7 | Risk Manager | $140,000 |
| 8 | Finance Manager | $130,000 |
| 9 | Investment Analyst | $125,000 |
| 10 | Financial Manager | $120,000 |
Source: Seek job listings. Updated: 27 June 2024.
Other lucrative opportunities are available but with smaller sample sizes that make it hard to determine the average salary reliably. Further examples of high-paying executive roles are director of financial planning and analysis, hedge fund manager, investment banking managing director, and private equity vice president.