TL;DR
• China currently leads salary outcomes among Master's in Finance programs, with Europe following closely behind
• Several European schools deliver strong overall performance even if salary figures sit slightly lower
• Pay is only one measure of ROI—career mobility, location, and long-term progression matter too
A Master's in Finance (MiF) degree can open doors to global banks, fast-track technical development, and build a network that follows graduates into top finance roles.
If you’re weighing programs by financial return, it’s worth asking which MiF programs produce the highest-paid alumni. The Financial Times MiF Ranking tracks average earnings three years after graduation, placing salary level and salary growth among its core metrics.
Using the ranking, here are the programs delivering the strongest financial outcomes for their graduates.
Master's in Finance programs with the highest salary potential
Which Masters in Finance programs offer the highest graduate salaries?
Tsinghua University School of Economics and Management produces the highest-earning MiF graduates in the ranking, reaching an average of $225,947 three years after graduation and recording an 86% salary increase from pre-program earnings.
China appears to be the strongest performer in terms of salary outcomes, taking the top three places. Both Peking University Guanghua and the Shanghai Advanced Institute of Finance also report graduate earnings above $200k, reinforcing China as one of the most lucrative markets for finance grads.
HEC Paris leads Europe with an average post-MiF salary of around $176k and an 82% increase, the strongest salary jump among European schools. ESCP Business School, Skema Business School, and Essec Business School sit close behind, all reporting salaries in the mid-$160k range. Three more European institutions round out the top ten, with the University of St. Gallen, Esade Business School, and London Business School remaining competitive.
The only US school to break into the top 20 is the University of Texas at Austin McCombs School of Business. Despite placing 20th overall, it still offers one of the strongest post-MiF salary outcomes in the region, averaging just over $120k.
Why salary isn't the whole story
The quality of a Master in Finance program isn’t just determined by your pay packet, however. Return on investment for graduates comes in many forms, including career transition and relocation.
Several European schools perform strongly in the overall ranking but fall lower on salary outcomes. Vlerick Business School, for example, places 14th overall in the FT ranking, yet reports an average salary of around $113k three years after graduation. Cost of living is often a factor here, and the appeal of working and living in cities such as London, Paris, and Berlin, outranks salary for many professionals.
In India, for example, MiF graduates from Institute of Management Technology Ghaziabad earn just over $84k after three years—around a third of the salary acheived by Tsinghua's graduates—but that number carries far more weight in the local economy.
What counts as a strong outcome varies by geography and by the type of finance roles students pursue. Investment roles in top financial centres tend to pay the most, while domestic markets usually start lower but still offer solid progression.
Return on investment can also be measured by the number of students who achieve their career goals, as reported in the ranking. At Stockholm School of Economics in Sweden, graduates’ average salary is $106k, less than half of some schools at the top of the ranking. Yet 92% of graduates achieved career aims, while 90% were employed three months after graduation, according to the FT.
If you’re comparing MiF programs, it’s easy to be drawn quickly to postgraduate salaries and salary increases, but a Master in Finance can offer far more by way of helping graduates achieve their career ambitions and aims that go far beyond earning potential.