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World's Best Masters In Finance Programs | 2020 Financial Times Ranking

Find out which business schools offer the best masters in finance programs in 2020 according to the Financial Times

Mon Jun 15 2020


A Master in Finance (MiF) remains the most popular specialized master’s program at business schools. Given that it’s a pathway for some of the most coveted jobs in finance, and yields some of the highest postgraduate salaries, it’s not surprising that MiFs are so popular. 

So where can you find the best masters in finance programs?

Read our report on the latest 2021 FT Masters in Finance Ranking

France leads the Masters in Finance ranking

HEC Paris is home to the best MiF program, according to the 2020 Masters in Finance Rankings by the Financial Times (FT). The rankings return after a one year hiatus in 2019. 

The French school stands out for its impressive graduate salaries—a whopping average of $149,750 within three years of graduation—as well as a 94% salary increase. 

HEC Paris has long dominated the MiF rankings since they started in 2011, topping the list every year except for 2017. It also continues an impressive run of form for the school, which topped the FT's European Business School and Executive MBA rankings in 2019, as well as coming second in the Master in Management rankings.

Overall, the 2020 rankings are a resounding success for French schools, who occupy all of the top five places. ESCP Business School, whose main campus is in Paris (with campuses in London, Turin, Madrid, Warsaw, and Berlin), comes in second place. Achievements for ESCP include topping the careers service ranking criteria.

In third place is SKEMA Business School, which has its main campus in Lille, while Essec Business School and EDHEC Business School, who topped the rankings in 2017, sit in fourth and fifth place. 

France’s dominance—with seven schools in the top 25—can be explained by the connection between business schools and local chambers of commerce, which set up schools like ESCP and HEC to hone local talent. This has created a close link between schools and the finance industry. Fees also tend to be subsidised, with schools offering MiF programs at a lower cost.

25 Best Masters in Finance Programs

Global Masters in Finance programs

It’s not just France who can celebrate 2020’s MiF rankings. Overall, European schools continue to offer the best MiF programs, filling all but four positions in the top 25. 

The UK trails France with four schools in the top 25, including two in the top 10—Imperial College Business School and Oxford Said—while Spain has three in the top 25. 

Looking outside of Europe, China contributes three schools to the top 25, with Shanghai Advanced Institute of Finance at 13th, Tsinghua University SEM at 15th, and Guanghua School of Management at Peking University at 17th. 

MIT Sloan School of Management is the only US school to appear in the top 25. You have to look down as far as number 42 to find the next placed US school, Bentley University. 


The FT surveyed 80 schools offering pre-experience MiF programs—programs aimed at students with little or no professional experience—for its 2020 ranking.

To be considered for the ranking, programs had to be full-time, cohort-based programs, with a minimum of 30 graduates each year, and AACSB or Equis-accredited. 

There are 17 criteria considered overall. Seven are informed by an alumni survey, while the other 10 are from school data. The FT surveyed close to 6,000 alumni.

Jobs criteria remain the most important. Salary and salary percentage increase account for 20% and 10% in weighting, while other criteria like careers service, career progress, aims achieved, and employment after three months all account for 5%. 

The ranking also gives weighting to certain course and class criteria, like international students and faculty, and female students and faculty.

Read More: MBA vs Master In Finance | How To Choose


Student Reviews

Bayes Business School




On Campus

Best Journalism school in Europe

When I first stepped onto the campus of City, University of London, I knew I was in for a ride - and not just on the Tube! With its vibrant energy and an impressive repertoire of programs, City U became my home away from home. The Journalism program was kind of a big deal. Rumour was that we were the best in Europe! The lecturers were not just experts in their field; they’re practically journalistic royalty. They were invested, passionate, and had a knack for turning the most flat press release into a riveting news story. With their guidance, I’ve learned to navigate the chaotic world of media like a pro. The campus was a melting pot of every culture, being that we had such a diverse international crowd. Being in the heart of London, I had the world at my fingertips - there was always a new corner to explore, a hidden gem of a cafe to discover, or a street performer! City, University of London wasn't just a university; it was a chapter in my life story that I’ll never forget.




On Campus

Learning environment

The teacher-learner ration is manageable, giving each learner a chance to gain personal attention. It is also easier following up on the progress of a student, as the numbers per class is not large. the conducive environment for learning includes clean classes, standard desks, world class instructional facilities and the opportunity to engage lecturers even after their sessions. The team spirit at City is above board, with learners getting chance to learn both from instructors and colleagues. This is the university of choice; the place to be.




On Campus


I liked that each class had a manageable number of learners, making the professor-learner ratio favor knowledge acquisition. I also liked that study schedules were manageable, and not overwhelming. The focus on talents and gifts even within the learning environment makes it possible for learners to achieve the best of their potential, and this has worked to the advantage of those that have schooled at City, University of London




On Campus


The diversity at City University facilitates interactions and is a direction toward the unity of the world. The classes are well built to match the number and needs of all students regardless of the elements of diversity that set people apart. The use of technology in delivery makes learning even more interesting and achievable. At City University there is no distinction pegged on the issues that make people unique.




On Campus


The team of lecturers at the Uiversity are well experienced. Their level of insight and the methodologies of delivery works for the interes of the leaeners. My learning experience was largely boosted by the level of knowledge of the professors at the institution, and their passion to transfer the same to learners. I appreciate every class I attended because of the level of insight I was able to gather




On Campus

The best university I’ve been to

The campus and the people I've met have made it a wonderful experience. I was reared in a small town with a graduating class of only 88 individuals, so moving to City University was a huge adjustment for me. My dorm has more residents than my whole high school combined! I enjoy the atmosphere here, and everyone is so friendly. Outstanding academic options and a stunning campus. Really great from beginning to end. The educators genuinely love what they do, and the students are ready to learn. On or around college, there is always something to do with friends, and the social scene is particularly warm.




On Campus

Bayes Business School

As a student at City university attending Bayes Business School I would totally recommend choosing this university as the experience is exceptional with great social networking opportunities . Professors are significantly helpful, delivering with excellence and professionalism. Everyone is happy to help and make you feel welcomed in such an esteem university as City, offering exceptional development and guidance through out the course.




On Campus

Economics and Politics

Incredibly amazing university, the way they polish students and help them boost their morale and think intellectually is worthwhile. Many universities have international partnerships to allow exchanges between their students. The most obvious subjects for these opportunities would be those that involve languages, and the study of people and places.




On Campus

Clinical biology

I really like it it’s perfect for me with not too many people and not too few either. All the modules are amazing. I love the toy bar. I love all the societies that I’ma part of. Especially the colour Bollywood society