Finance is the study of decision-making under risk. Students will learn to think analytically about risks, measure them, and weigh them against potential returns. These principles can then be applied across financial contexts – from corporations that are seeking different financing options to investors who are putting together an investment portfolio.
This programme delivers foundational knowledge, not only about how corporations raise funds, but also about broader global issues – like sustainability and climate change – within finance and beyond. The field must also be increasingly aware of system-wide risks, conflicts of interest, and regulatory challenges. This requires the wide theoretical knowledge and practical skills taught in the programme.
In short, all global challenges – business-related or not – require an understanding of how financial markets work.
Finance graduates will have:
Graduates will be able to apply analytical thinking and financial tools both in the strategic decision-making of a firm (e.g., mergers and acquisitions) and in day-to-day management (e.g., portfolio and risk management).
The language of instruction is English.
Aalto University’s tuition fee for master’s programmes taught in English is 15 000 euros per academic year. Tuition fees apply to citizens of countries other than those of the European Union (EU), the European Economic Area (EEA) or Switzerland.
Aalto University has a scholarship programme to support non-EU/EEA citizens who study in a fee-charging degree programme. The scholarship may cover 100% or 50% of the tuition fee.
More information on tuition fees and scholarships at Aalto University is available at the Scholarships and Tuition Fees webpage.
The Master’s Programme in Finance organised by the School of Business comprises a total of 120 ECTS credits. The two-year programme consists of:
Students have the opportunity to complete minor studies (24 ECTS) at an official exchange programme partner of the School of Business.
In addition to courses in finance and related fields, students are encouraged to complete a minor or individual courses organised by other Aalto Schools.
Students can also apply to a double degree programme and complete two degrees in parallel: the Master of Science (Economics and Business Administration) degree at the Aalto University School of Business (one year) and a master's degree at the partner university, University of Cologne (one year).
At the beginning of their studies, students define their Personal Study Plans (PSP) together with an academic advisor. The primary purpose of PSP is to ensure that the studies support the student’s interests and are completed in a logical order.
Is a bachelors in finance required to apply for the programme?
No. Applicants with bachelors outside the field of finance, or even outside business, are also encouraged to apply. Students with backgrounds in engineering, computer science, or otherwise can be a great fit – more important is that the student comes equipped with the drive to do well in the programme. Basic finance courses can be completed in the first year as needed.
There are two areas of specialisation to guide your choice in elective courses: Corporate Finance and Investments. Corporate Finance considers how corporations should finance their activities and innovations, while Investments examines how investors should allocate their resources. These specialities are not formalised or mutually exclusive, so students are encouraged to explore both.
Beyond these core streams, there are courses that address emerging topics in the finance sector, such as Fintech and Sustainable Finance. Whether students lean more towards corporate finance or investments, these current topics can be of significant interest and utility.
Financial markets are global – and so is the finance industry.
Aalto University is also international by nature, welcoming thousands of degree and exchange students from abroad each year. These students join the diverse Aalto community not only through studies, but also through the many events, activities and celebrations held around the campus. Programme administrators, active tutors and student support services work vigorously to help international students adapt to Nordic culture and feel at home in Finland.
Finance students at Aalto receive world-class instruction from professors and doctoral students who have international experience from the world’s top universities, like Wharton, Harvard and Berkeley.
Because the programme is flexible, many Finance students decide to participate in an exchange programme at one of Aalto’s top-tier partner universities.
After graduation, finance students will have excellent employment opportunities abroad – for example, in nearby financial hubs such as London, Paris and Frankfurt.
The degree provides excellent preparation for the world’s leading PhD programmes.
The world’s most discriminating companies in the financial sector fiercely compete for our ambitious and analytical finance graduates. Potential employers range from investment and commercial banks to management consultancies, and from brokerage and mutual fund companies to insurance and venture capital firms.
The applicability and demand for the skills that finance students acquire is extremely broad, and well suited to roles outside the financial sector. Approximately 50% of Aalto's Finance graduates find their career within the field of finance. The remaining 50% find employment in diverse industries, with management consultancy being the most common.
While studying, students will benefit from frequent exposure to potential future employers, both domestically and internationally. Much of this interaction comes via informal events organised through the student-run Aalto Finance, whose mission is to provide opportunities for students to get acquainted and connect with the faculty, and develop networks with people working in related industries.
Common post-graduate positions include:
Information about finance research at Aalto can be found on the Department of Finance website.
Aalto University and the departments involved in the programme collaborate with many top-quality universities worldwide.
Students can take advantage of studies in other Aalto University Schools, studies in other universities (through JOO, the flexible study right agreement) and studies through student exchanges or the international sites connected to the major.
In addition, professionals from outside companies often visit Aalto as guest lecturers, providing valuable real-world insights and networking opportunities.
Multidisciplinary opportunities
Finance studies are flexible when it comes to choosing minor and elective courses from different majors and different schools. For example, behavioural finance lends itself to courses in psychology, sociology and the behavioural sciences, and entrepreneurial minds often find paths towards financial technology, corporate venturing, and start-up investing. Similarly, the chance to take a minor or electives in fields like computer science, engineering, or the arts is a distinctive and valuable offering not found everywhere.
This spontaneous, multidisciplinary environment naturally sparks innovative ideas, brings together enthusiasts, and gives birth to friendships, networks – and every so often – start-ups.
Are you wondering what it is like to study at Aalto? Come chat with our students about all things Aalto on Unibuddy chat platform.
Applicants meeting Aalto’s general eligibility criteria for master's studies are evaluated and ranked according to the evaluation criteria decided in advance for each study option.
The applications to Master’s Programme in Finance are evaluated based on the following criteria.
Bachelor’s degree from a university in Finland
| What is evaluated? | Previous studies |
|---|---|
| Admission requirements |
Applicants are expected to be familiar with the basics of finance (discounting and present value, cost of capital, basics of asset pricing and portfolio theory, basics of financial institutions and financial markets). Students accepted into the programme with little background in finance may be required to complete one or two B.Sc. level finance courses (such as Fundamentals of Corporate Finance and/or Fundamentals of Financial Markets and Institutions and/or Econometrics for Finance and/or Fundamentals of Investments) during their first year of studies. The applicants are ranked according to the following criteria. |
| Evaluated documents | Transcript(s) of records, degree certificate(s) |
| Criticality | Critical (0 points = rejection) |
Please Note! Remember to submit course descriptions for the previous studies.
If your previous studies were evaluated in other scale than the ECTS then you need to attach an informal description regarding the evaluation scale to the application.
| What is evaluated? | Weighted GPA of previous studies |
|---|---|
| Admission requirements | Considering absolute and relative performance, the type of degree and the reputation of the institution granting it. Applicants with a weighted GPA of previous degree lower than 3.50 (Finnish ECTS evaluation) are not eligible for admission. |
| Evaluated documents | Transcript(s) of records, degree certificate(s) |
| Criticality | Critical (0 points = rejection) |
| What is evaluated? | Motivational letter and CV |
|---|---|
| Admission requirements | Motivation letter is written in English and it should be less than 300 words. |
| Evaluated documents | Motivation letter and CV |
| Criticality | Critical (0 points = rejection) |
| What is evaluated? | Applicant’s further applicability to the study option, motivation, and commitment for studies/communication skills |
|---|---|
| Admission requirements |
Based on the above evaluation criteria, the best applicants are invited for an interview. The applicants’ skills and ability to communicate in English are evaluated. The applicants are asked a series of questions regarding their motivation, abilities, and attitudes. The final acceptance of applicants will be made based on the interviews. |
| Evaluated documents | Interview |
| Criticality | Critical (0 points = rejection) |
Bachelor’s degree from a university of applied science in Finland or from a higher education institution abroad
| What is evaluated? | Previous studies |
|---|---|
| Admission requirements |
Applicants are expected to be familiar with the basics of finance (discounting and present value, cost of capital, basics of asset pricing and portfolio theory, basics of financial institutions and financial markets). Students accepted into the programme with little background in finance may be required to complete one or two B.Sc. level finance courses (such as Fundamentals of Corporate Finance and/or Fundamentals of Financial Markets and Institutions and/or Econometrics for Finance and/or Fundamentals of Investments) during their first year of studies. The applicants are ranked according to the following criteria. |
| Evaluated documents | Transcript(s) of records, degree certificate(s) |
| Criticality | Critical (0 points = rejection) |
Please Note! Remember to submit course descriptions for the previous studies.
If your previous studies were evaluated in other scale than the ECTS then you need to attach an informal description regarding the evaluation scale to the application.
| What is evaluated? | Analytical and quantitative skills |
|---|---|
| Admission requirements |
GMAT/GRE test score receives the most weight in selection, exact weightings are not disclosed). Applicants with a GMAT result lower than required are not eligible for admission. GMAT or GRE is obligatory in admission group 2 (minimum score 650 in GMAT, 595 in GMAT Focus edition or GRE score of 160 verbal reasoning - 161 quantitative reasoning). |
| Evaluated documents | GMAT/ GRE test results |
| Criticality | Critical (0 points = rejection) |
| What is evaluated? | Weighted GPA of previous studies |
|---|---|
| Admission requirements | Considering absolute and relative performance, the type of degree and the reputation of the institution granting it. Applicants must demonstrate good academic performance. |
| Evaluated documents | Transcript(s) of records, degree certificate(s) |
| Criticality | Critical (0 points = rejection) |
| What is evaluated? | Motivational letter and CV |
|---|---|
| Admission requirements | Motivation letter is written in English and it should be less than 300 words. |
| Evaluated documents | Motivation letter and CV |
| Criticality | Critical (0 points = rejection) |
| What is evaluated? | Applicant’s further applicability to the study option, motivation, and commitment for studies/communication skills |
|---|---|
| Admission requirements |
Based on the above evaluation criteria, the best applicants are invited for an interview. The applicants’ skills and ability to communicate in English are evaluated. The applicants are asked a series of questions regarding their motivation, abilities, and attitudes. The final acceptance of applicants will be made based on the interviews. |
| Evaluated documents | Interview |
| Criticality | Critical (0 points = rejection) |
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