ESCP Master’s in Finance - Class Profile, Cost & Curriculum

The ESCP Master in Finance is a rigorous 15-month program designed to provide students with the skills and knowledge needed to excel in the financial industry.  

For the analysis, we cover

• Class Profile
• Tuition and Fees
• Berlin vs. London vs. Paris vs. Madrid vs. Turin vs. Venice Cost
• Curriculum Overview
• Scholarships and Funding for ESCP Master’s In Finance
• Application Process and Essay Questions

Class Profile

The ESCP Master in Finance Class is a diverse and academically strong cohort. Business school graduates make up 40% of the class, while 38% have backgrounds in Economics, Management, or Finance, and 22% come from engineering schools. This mix of disciplines enriches the learning experience with varied perspectives.

The class is highly international, with 67% of students coming from outside the host countries, reflecting ESCP's global focus. Women represent 33% of the class, showcasing the program's efforts toward gender diversity in a traditionally male-dominated field.

Tuition and Fees

The ESCP Master in Finance program for the 2024/2025 academic year comes with a tuition fee of €29,100 ($32,571), which can be paid either in full at the start of the year or in four installments from November to February. For students needing additional coursework to meet the program's entry requirements, an online summer semester is available for an extra €3,200.

Beyond tuition, students should account for living expenses, which vary depending on the campus location.

Berlin vs. London vs. Paris vs. Madrid vs. Turin vs. Venice Cost 

In Berlin, the cost of living is estimated at €21,600 ($24,170), while in London, it reaches £24,000 ($31,722). Paris offers a slightly more affordable option at €18,000 ($20,147), followed by Madrid at €15,000 ($16,789). The most budget-friendly locations are Turin and Venice, each with an estimated cost of €10,000 ($11,193).

Students are responsible for accommodation and transport costs while attending courses at any of the school's campuses, whether in Berlin, London, Paris, Madrid, Turin, or Venice.

 

Curriculum Overview

The ESCP Master in Finance is a rigorous 15-month program designed to provide students with the skills and knowledge needed to excel in the financial industry. The program offers two specializations: Investment Banking and Financial Markets, allowing students to tailor their education to their professional aspirations. 

The curriculum combines academics with practical insights from industry professionals for high-responsibility financial roles such as Sales, traders, Equity Research and Credit Research analysts, Hedge Funds, M&A analysts, ECM, Private Equity, Rating Agencies, Regulators, etc. 

The program is conducted in two main locations—Paris and London—and is available in English.

Semester 1: Fundamental Courses (8 Weeks)

The program begins with an 8-week foundational course for students with less than 240 ECTS credits or equivalent. These online modules, covering core management topics such as Economics, Statistics, Accounting & Finance, Marketing, Leadership, and Strategy, are critical for ensuring that all students have a uniform understanding of essential business concepts before they move on to more advanced topics. This preparatory phase is crucial for leveling the academic field, especially for those without extensive professional experience, although exemptions are available for those with three or more years in relevant roles.

Semester 2: Common Core (September to October)

In the second semester, the curriculum transitions into a set of common core courses from September to October. This segment serves as a foundational introduction to the world of finance, covering essential topics like Financial Economics, Future Options and Derivatives, and Ethics & Business Conduct. 

Job Training: The inclusion of job-specific training and interview coaching highlights the program's emphasis on preparing students for the competitive job market. The common core phase lays the groundwork for specialization, ensuring that all participants have a solid grasp of the basic principles that underpin the financial industry.

Semester 2 & 3: Specialization Tracks (22 Weeks)

Following the common core, students enter a 22-week specialization phase from November to April, selecting either the Investment Banking track or the Financial Markets track:

Investment Banking Track: This track delves into the technical and strategic aspects of corporate finance. Courses such as IFRS Standards, Mergers & Acquisitions, Advanced Assessment, and Debt Products are designed to provide students with the detailed knowledge needed for careers in areas like mergers and acquisitions, corporate finance, and equity capital markets. The curriculum emphasizes the analytical and technical skills required to succeed in investment banking.

Financial Markets Track: This track is oriented toward students interested in the dynamics of trading and market analysis. Subjects like VBA, Portfolio Management, Exotic Options, and Trading are central to this track, which equips students with the quantitative and programming skills necessary for roles in trading, asset management, and financial analysis. The focus on practical application is evident, with courses that simulate real-world financial market scenarios.

In both tracks, a mandatory seminar on Ethics, Environmental, Social & Corporate Governance (ESG) reflects the growing importance of ethical considerations in today’s financial landscape.

Semester 4: Professional Mission (Final Phase – April to December)

The program’s final phase, from April to December, involves a professional mission where students engage in internships lasting at least four months. This component is essential for translating academic knowledge into practical experience, with students taking on roles such as financial analyst, M&A analyst, or trader.

Dissertation & Research Seminar

In addition to the professional mission, students must complete a Master's Thesis during the final semester. This research project, typically formatted as an academic article, demands thorough investigation and analysis on a finance-related topic. 

The thesis is defended before a jury, representing a critical culmination of the student’s academic work. Alongside the thesis, students participate in a research seminar, adding to the program’s emphasis on developing high-level analytical and research skills.

Scholarships and Funding for ESCP Master’s In Finance

ESCP Scholarships: Students may apply for an ESCP scholarship, which offers a 10% reduction in tuition fees based on social and academic excellence criteria. To qualify, students must submit documentation supporting their financial situation.

CROUS Scholarships: Students who have previously been awarded a CROUS scholarship by the French Ministry of Higher Education and Research are eligible for additional tuition fee reductions at ESCP. Depending on the level of support indicated in the CROUS notification, the discount can range from 10% to 50%. This makes it an attractive option for students with demonstrated financial need.

CROUS Paris Scholarships: For those who have studied in France before, the program is also eligible for the CROUS Paris scholarship. Applications for this scholarship must be submitted through the CROUS Paris website, providing another avenue for reducing the financial burden.

Internships and Student Work

Internships: Students in the ESCP Master in Finance program are required to complete a minimum of four months of internship, with most students opting for an average of six months. Internship compensation typically ranges from €500 to €2,000 per month, which can significantly offset tuition and living expenses. 

No Work Permit Required: Notably, a work permit is not required for these internships, but international students must hold a valid residence permit.

On-Campus Employment: In addition to internships, ESCP offers various on-campus employment opportunities, including administrative tasks and research assistance. These positions are compensated at a rate of €10 per hour, providing students with additional means to support their studies.

Student Loans: Students can finance their studies through student loans, which are offered by most banks at competitive rates with deferred repayment options. In France, a guarantor is usually required, so international students may need to apply for loans in their home countries. Four Parisian banks—BNP Paribas, BRED, LCL, and Société Générale—are known to regularly grant loans to ESCP students.

Application Process and Essay Questions

To apply for the ESCP Master in Finance program, candidates must meet the following admission criteria:
•    A Bachelor's degree or equivalent (license)
•    A minimum of 180 ECTS credits
•    Proficiency in English and French

Application Submission: Candidates must submit their applications online, ensuring all required documents are included. These documents consist of a copy of the most recent diploma or a school certificate for the current degree, transcripts from the last two years of study, and a valid passport or identity card. 

An updated resume and recent TOEFL, TOEIC (listening and reading), or IELTS scores are also required, with the test taken within the last two years. Additionally, a passport-sized photo in JPEG format should be attached. 

While optional, it is highly recommended to include two letters of recommendation, which can be sent separately in different formats if necessary.

Interview Process: Once the application is reviewed, eligible candidates are invited to a personal interview. The interview is conducted by the program's Scientific Director and industry professionals, allowing the committee to assess the candidate's fit for the program.

Final Decision: The final admission decision is made by a committee and is communicated via email on the date specified in the admissions calendar.

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Reference

• ESCP Master's in Finance