Cambridge Master of Finance - Class Profile, Cost & Curriculum

US and UK Schools have taken on the dormant Master’s in Management and Master of Finance degrees, which were earlier dominated by European schools. Cambridge Master of Finance is one such program. In this analysis, we cover:

•    Class Profile
•    Pre-MFin: Finance Industry Areas
•    Tuition and Fees
•    Scholarships and Funding
•    Curriculum
•    Program Schedule
•    Pathways – Six
•    Application Process and Essay Questions
•    Personal Statement (Question) (500 Words)

Class Profile

The latest Cambridge MFin Class has a class size of 89 students representing 31 nationalities, the program fosters a rich cultural exchange and a broad range of perspectives. Notably, 52% of the class comprises female students, reflecting a commendable gender balance in a traditionally male-dominated field. 

The students bring an average of four years of work experience, underscoring their readiness to engage with advanced financial concepts. The range of finance experience spans from 2 to 13 years.
 

Pre-MFin: Finance Industry Areas

The pre-MFin industry distribution of the Cambridge MFin Class of 2024/25 reveals a diverse array of finance-related backgrounds. 

Accounting and Professional Services dominate the cohort, with 16.85% of students having prior experience in this area, indicating a strong presence of individuals with broad, industry-wide expertise. A significant portion, 10.11%, worked in finance roles within non-financial companies, suggesting that many students bring a unique perspective on how financial principles apply across different sectors.

Investment Bankers, at 15.73%, joined the latest class, a pivot from MBA, where the demographic typically targets. 
Financial Consulting (13.48%), Commercial and Retail Banking (7.87%), Regulatory (7.87%), and Asset Management (6.74%) also represent notable segments, showcasing a cohort with significant advisory and high-stakes investment experience.

Smaller, yet important, contributions come from areas like Wealth Management/Private Banking (3.37%), Real Estate (3.37%), and Insurance & pension services (3.37%)

Tuition and Fees

The Cambridge MFin program's attendance cost in 2024/25 is £73,740. This includes tuition fees of £55,080 and living costs totaling £18,660. The breakdown of living expenses includes accommodation at £10,080, food at £3,360, personal items at £1,860, social activities at £1,740, study costs at £360, and miscellaneous expenses at £1,260.  

Scholarships and Funding

Cambridge MFin program offers a total of 21 Funding Options that comprise 7 Loans, 5 Cambridge Judge Scholarships, and 15 External Scholarships. 

The funding at Cambridge Mfin program covers a wide range of amounts from as low as £5,000 to Full tuition funding. 

The External Scholarships extend to nationals from India, the US, Canada, Australia, New Zealand, France, Lebanon, and the Middle East. 

Curriculum

The Cambridge Master of Finance (MFin) is a one-year program designed to provide a deep and understanding of key finance principles while addressing cutting-edge industry issues. Tailored for professionals with experience in finance, the curriculum is crafted in consultation with the banking and finance industry, ensuring its relevance and alignment with market needs. 

The program balances core courses, electives, projects, and professional development opportunities, offering students the flexibility to shape their education according to their career aspirations.

Orientation: The program begins with a two-week orientation period that is designed to acclimate students to Cambridge, their peers, and the MFin team. This period includes refresher classes in mathematics and statistics.

Core Courses: The core courses form the backbone of the MFin curriculum, offering a comprehensive grounding in finance theory, accounting, and quantitative methods.

Courses like Economic Foundations of Finance, Equity Valuation, Financial Institutions and Markets, and Financial Reporting and Analysis ensure that students gain an understanding of essential financial concepts. These core courses are spread across the Michaelmas and Lent terms.

Electives: Electives offer students the flexibility to tailor their learning experience according to their interests and career goals. 

With a wide range of options covering advanced topics such as Advanced Corporate Finance, Algorithmic Trading, Private Equity, and Machine Learning for Finance Practitioners, students can deepen their knowledge in specific areas of finance. 

Each MFin student is required to take at least seven electives, which can be chosen based on their professional aspirations. These electives, which vary from year to year, are typically taken during the Lent and Easter terms.

Cores and Electives

Projects

Projects are a central feature of the MFin program, allowing students to apply their classroom learning to real-world scenarios. 

The program includes two compulsory projects: the Equity Research Project and the Group Consulting Project. 

The Equity Research Project involves students working in groups to research, write, and present an investment thesis on a listed company, providing hands-on experience in equity analysis. 

The Group Consulting Project offers the opportunity to work on a real assignment for a host company, often with international exposure. 

Past projects have been conducted in locations such as China, Hong Kong, Abu Dhabi, Mongolia, and Portugal, and have involved partnerships with leading companies like BNY Mellon, IMF/World Bank, Barclays, Citibank, and BlackRock.

An optional third project is available during the summer term, where students can choose to undertake an internship or work placement, further enhancing their practical experience.

City Speaker Series: The City Speaker Series provides students with regular opportunities to interact with finance professionals and industry leaders. These sessions, which run throughout the Michaelmas, Lent, and Easter terms, offer insights into applied finance and allow students to expand their professional networks. Some of the recent speakers are Kristine Braden (Managing Director, Head of Europe Global Subsidiaries Group, Citi) and Paul Tucker (Partner at Egerton, Egerton Capital).

Personal and Professional Development Program: Throughout the year, students have access to one-on-one coaching, job search workshops, and interview preparation sessions. This comprehensive support is designed to equip students with the skills and insights needed to succeed in their careers. The program culminates in recruitment and networking events, including alumni panels, providing students with valuable connections and opportunities in the finance industry.

Summer Term: The summer term offers a range of activities, including internships, work placements, research projects, and additional elective courses. 

Students can also participate in the summer program at Tsinghua University, PBC School of Finance in China, providing a global perspective on finance. This term allows students to consolidate their learning and gain practical experience before completing the program.

Program Schedule

Pathways – Six (Investment Management, Corporate Finance, Quantitative Finance, Asset Pricing, Artificial Intelligence, and Cryptocurrency)

The Cambridge MFin program offers a highly customizable curriculum that allows students to tailor their education to align with their career aspirations. Through a diverse range of electives, the program provides in-depth knowledge across various finance disciplines, including investment management, corporate finance, quantitative finance, asset pricing, artificial intelligence, and cryptocurrency. 

These electives are designed to equip students with the specific skills and expertise needed for their chosen career paths, ensuring they are well-prepared to navigate the complexities of the financial industry.

The electives are categorized into three broad career pathways: Corporate Finance/Valuation, Quantitative Finance/Analytics, and Buy-side/Investment Management.

• Corporate Finance / Valuation Path: Ideal for those pursuing careers in corporate finance advisory, M&A, private equity, equity research, or venture capital. This path focuses on developing a strong understanding of corporate valuation and financial strategies.

• Quantitative Finance / Analytics Path: Suited for students interested in roles requiring high-level quantitative and analytical skills, such as risk management, sales/trading, hedge funds, quantitative asset management, and fintech. This path emphasizes advanced quantitative methods and financial modeling.

• Buy-side / Investment Management Path: Designed for those aiming for a career in investment management, with a focus on portfolio construction, asset valuation, and understanding diverse asset classes. This path provides the skills needed for managing investments and navigating global financial markets.

Application Process and Essay Questions

Application Process

The Cambridge MFin program’s application process is structured to identify candidates who not only meet the academic and professional requirements but also demonstrate a clear vision for their career in finance. 

The admissions for the September 2025 entry open on 2 September 2024, and the process is conducted on a rolling basis until the final deadline. 

Early Application – For Scholarship

Early application is recommended to take advantage of scholarship opportunities and student loans, which may have earlier deadlines.

Application Material

Applicants should begin by thoroughly preparing their materials. This includes gathering academic transcripts, certificates, and evidence of at least two years of professional financial work experience.

English Proficiency

Additionally, a certificate of English proficiency, references from three referees (academic, work supervisor, and work colleague), and a personal statement are required. The online application portal is designed to be user-friendly, allowing applicants to save their progress and return to it as needed. A £120 application fee is charged upon submission.

Academic Experience – UK 2:1 or Equivalent

The program emphasizes a strong academic background, expecting applicants to have a high UK 2:1 or equivalent in their undergraduate studies. While the program is open to graduates from various disciplines, candidates must show proficiency in mathematics and statistics, essential for the curriculum. Professional experience is a crucial component, with a preference for candidates with at least one year in a front-office finance role or an equivalent position.

Personal Statement (Question) (500 Words)

We expect you to provide us with a reasonably clear idea of your future career aspirations and how you expect the MFin to help you meet them. We ask you to do this by writing a personal statement of up to 500 words. 

We hope to learn more about you as a person from this statement so please be thoughtful and candid in your writing – share with us your influences, passions, values and aspirations. We are also looking for your statement to be clearly written, succinct and engaging; it is worth spending some time preparing.

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Reference

• Cambridge Master of Finance