France's HEC Paris and Cambridge Judge Business School of the UK took the top spots.
The FT compiles two rankings for master in finance programs: one for pre-experience courses and one for post-experience programs.
The pre-experience ranking is the most significant; the majority of finance masters programs are for those with little or no work experience. The degrees are focused on professionals hoping to strengthen their knowledge of finance and are usually designed in consultation with the banking and finance industries.
HEC Paris took the top spot for pre-experience programs after similar success last year. The business school was ranked highly for its international mobility. Some 98% of its master in finance graduates are employed after three months, earning average salaries of $96,260, up by $3,647 on last year.
ESCP Europe, IE Business School, EDHEC Business School and MIT Sloan of the US complete the top-five. Nine of the top-10 ranked masters in finance programs are based in Europe.
Europe's success in the finance program rankings comes as the continent's business schools rise across the board. Last year the MBA at INSEAD, established in France, was ranked as the best in the world. Europe's schools also dominated the FT's ranking of executive education programs in May.
Cambridge Judge scored highly in the FT's ranking of post-experience programs thanks to its internationality and strong employment figures. Graduates’ salaries are increased by 68% on average three months on, to $130,203.
“We are particularly pleased with our fine showing in career-oriented metrics at a time of difficult job markets in the financial services industry,” said Simon Taylor, director of Cambridge Judge's master in finance program.
London Business School claimed second place in in the post-experience ranking.