MSc Corporate Finance degree

Entry requirements
2:1 +
Full-time
1 year
Part-time
Not available
Start date
September 2020
UK / EU fee
£13,800
International fee
£23,200
Location
Loughborough
Application status
Open

We've made some changes to our master's degrees to provide reassurance and flexibility for applicants wishing to join us in 2020/21. Read our options to start a master's degree in 2020/21 to find out more.

Overview

Our MSc Corporate Finance programme is aimed at students who wish to prepare for a career in the treasury department of a large company or for the corporate finance team of an investment bank. It would also prepare you for a management consultancy role with a finance focus or an advisory role with an accounting or professional services company.

Corporate finance encompasses diverse topics such as mergers and acquisitions, issuing capital, cash management, corporate payout policy, managing foreign exchange exposure and executive compensation. Our MSc Corporate Finance programme will provide you with tools to evaluate corporate finance issues and to improve financial management practice.

Our MSc Corporate Finance is an applied master’s programme that provides students with knowledge and skills to work in corporate finance roles. You will be taught by internationally renowned academics who are able to bring fresh insights into their teaching; both from their research, and their advisory roles on government policy and in industry. Research strengths include Corporate Finance, Accounting, Financial Markets and Corporate Governance. Teaching is academically rigorous and strong emphasis is placed on practical relevance. Our MSc Corporate Finance programme shares a common taught first semester with MSc Finance ,and MSc Finance & Investment before specializing in Corporate Finance in semesters two and three.

MSc Corporate Finance is accredited by the Chartered Institute of Management Accountants (CIMA); the world's largest body of management accountants. It offers at least 6 exemptions from CIMA's professional examinations. This is strong recognition of the professional relevance of this programme for students wishing to work in the Finance function of a business or multinational organisation.

CIMA Logo

Our Trading Room, which incorporates Thomson-Reuters Eikon financial trading software, is integrated into the programme and will provide the platform for many of the computer lab sessions, enabling you to practically apply concepts you have learned during the programme. Currently students have access to the Trading Room in the evenings and at weekends. You can work independently towards a certificate of competency in EIKON which is awarded by Thomson-Reuters.

 

On successful completion of the programme, you should be able to:

  • Appraise the core theories of finance and assess the empirical evidence on these
  • Critically discuss the financing arrangements and governance structures of business entities
  • Evaluate the factors influencing investment behaviour
  • Demonstrate a critical awareness of how financial markets operate in different settings
  • Debate the role of finance in society and the wider economy
  • Critically evaluate arguments and evidence related to the practice of treasury management

Who should study this programme?

Our MSc Corporate Finance programme is ideal for graduates who wish to prepare for a career in the treasury department of a large company, for the corporate finance team of an investment bank; for a management consultancy role with a finance focus; or an advisory role with an accounting or professional services company.

Why you should choose us

Why you should study this degree

What makes this programme different?

  • CIMA accredited
  • use of our Trading Room
  • opportunity to gain a certificate in EIKON
  • we're a top 10 UK University
  • taught by internationally renowned academics
  • scholarships available for the best candidates.

What you'll study

The following information is intended as an example only and is based on module information for the 2019/20 year of entry. Modules are reviewed on an annual basis and may be subject to future changes. Updated Programme and Module Specifications are made available ahead of each academic year. Please see Terms and Conditions of Study for more information.

Methods for Financial Data Analysis (15 credits)

This module will provide you with a solid foundation in the mathematical and statistical techniques and skills used both in your other MSc modules and in the financial industry. You will develop an understanding of the standard mathematical and analytical techniques used by financial analysts and financial market participants, and an awareness of the strengths and weaknesses of these methods. You will also be able to apply basic techniques of data description and analysis to financial data.

Topics studied may include:

  • mathematical relationships and functions
  • basic calculus, including maximisation and minimisation
  • descriptive statistics and graphical data summary
  • statistical inference and hypothesis testing
  • regression analysis
  • multicollinearity
  • heteroscedasticity
  • serial correlation
  • basic diagnostic testing.

Principles of Finance (15 credits)

This module will give you a broad understanding of the core issues in finance and develop your numerical reasoning and data interpretation. It will enable you to explain and interpret rates of return, interest rates and basic bond pricing, critically discuss the advantages and disadvantages of using various capital budgeting techniques and undertake a detailed Net Present Value calculation, including calculating the weighted average cost of capital and incorporating taxation. The module will also also explore the rudiments of portfolio selection and how the Capital Asset Pricing Model follows from this environment and evaluate the impact of capital structure on the value of the firm.

Topics studied may include:

  • rates of return
  • interest rates and the time value of money
  • capital budgeting
  • portfolio theory
  • Capital Asset Pricing Model (CAPM)
  • the efficient market hypothesis
  • the weighted average cost of capital
  • basics of capital structure.

Financial Markets and Institutions (15 credits)

This module will give you an overview of the financial system, including an understanding of the organisation and operation of the major financial institutions and markets, and an appreciation of the economic problems that financial institutions and markets seek to overcome. It will also explore the impact of technology and regulation on the evolution of the industry and how alternative structures of financial systems seek to solve common problems.

Topics studied may include:

  • an overview of the financial system
  • a short history of money
  • banking and banking relationships
  • bonds and bond markets;
  • money markets and liquidity
  • equity finance and corporate governance
  • equity markets and equity trading
  • payments systems and financial infrastructure
  • derivatives and proprietary trading.

Financial Reporting and Company Performance (15 credits)

This module will enhance your financial literacy and develop your ability to analyse and interpret company financial performance. You will define and critically evaluate fundamental principles and concepts of financial reporting and analyse and interpret financial reports prepared in accordance with International Financial Reporting standards. The module will also allow you to apply fundamental accounting concepts, principles and techniques in the preparation of both cash and accruals based financial reports, and calculate appropriate ratios for analysis and interpretation of financial information.

Topics covered may include:

  • the nature and purpose of financial reporting in theory and practice
  • published financial statements and their relevance to stakeholder needs
  • analysing the financial strengths and weaknesses of an organisation within its environment
  • international regulation of financial reporting
  • accounting for pensions.

Business Communication for Finance (15 credits)

This two-semester module will see you develop an understanding of the financial professional's role in managing company performance. It will develop your understanding of the interplay between financial and non-financial performance measurement, and explore key theoretical and practical approaches to communication skills development (including self-awareness and team working) and to leadership. The module will also allow you to define, apply and appraise a suitable framework for business performance management.

Topics studied may include:

  • analysis of financial information
  • use of Balanced Scorecard approaches to develop strategic understanding of business performance
  • self-management: exploring key issues in the areas of developing professional skills such as time management, interpersonal skills and self-learning.
  • team working: key theories of team working
  • leadership: key theories and practical issues around areas such as project management and decision making.

Corporate Finance (15 credits)

This module will develop your understanding of modern corporate finance theory and its associated concept in an international business context. It will provide you with a deeper understanding of the key financial decisions made by public limited companies within the international financial environment in which they operate and enable you, through the application of appropriate tools and techniques, to both evaluate and solve complex corporate finance problems.

Topics studied may include:

  • sources of long-run financing
  • dividend irrelevance theory and factors affecting a company's dividend policy and alternatives to cash dividends
  • firm capital structure and firm value.
  • mergers and acquisitions
  • firm cash management.

International Financial Management (15 credits)

This module will build on the pre-requisite module, Principles of Finance, and will develop a thorough understanding of the practice of financial management in companies operating in the international environment. You will also develop critical reasoning skills in the context of international financial risk management, including the operations of the foreign exchange market and particularly different potential foreign exchange rate regimes.

Topics covered may include:

  • foreign exchange markets and parity relations
  • management of foreign exchange exposure and political risk
  • currency derivatives
  • financing
  • net present values
  • capital structure decisions in international business.

Financial Statements and Business Valuation (15 credits)

This module will deepen and broaden your understanding of conceptual and theoretical issues in accounting and financial management through real life examples. It will also develop your understanding of the analysis of firms' financial reports relevant to the investment decision and firms' valuations.

This module uses the published accounts of major corporations to derive value metrics usable in fundamentals driven trading strategies.

Content may include:

  • uses of financial statements
  • accrual accounting and valuation models
  • analysis of reformulated financial statements.

Business Communication for Finance (15 credits)

This two-semester module will see you develop an understanding of the financial professional's role in managing company performance. It will develop your understanding of the interplay between financial and non-financial performance measurement, and explore key theoretical and practical approaches to communication skills development (including self-awareness and team working) and to leadership. The module will also allow you to define, apply and appraise a suitable framework for business performance management.

Topics studied may include:

  • analysis of financial information
  • use of Balanced Scorecard approaches to develop strategic understanding of business performance
  • self-management: exploring key issues in the areas of developing professional skills such as time management, interpersonal skills and self-learning.
  • team working: key theories of team working
  • leadership: key theories and practical issues around areas such as project management and decision making.

Optional modules (choose one)

Portfolio Management (15 credits)

This module will develop the skills you need to apply knowledge and understanding to complex issues in portfolio management. It will see you apply tools of analysis to critically evaluate portfolio management issues and performance outcome, and build on the skills/knowledge from the semester one module, Principles of Finance, and selectively apply these in a portfolio context.

Topics studied may include:

  • term structure of interest rates
  • bond portfolio management
  • stock selection
  • multifactor asset pricing models
  • investment funds and equity portfolio strategies
  • portfolio performance evaluation.

Global Financial Markets and the Financial Crisis (15 credits)

This module will analyse in-depth the causes, implications and regulatory responses to the recent global banking crisis. In particular, the module will review and analyse the theoretical basis of financial innovation and its impact on financial institutions and markets (and the role of derivative instruments in the banking crisis), and review and analyse price- and credit derivative instrument. You will also analyse in depth the nature, causes, policy responses and implications of the global financial crisis, and consider post-crisis scenarios for bank business models and regulation.

Topics covered may include:

  • financial innovation and instruments
  • securitisation and credit derivatives
  • banking and the financial crisis
  • financial regulation.

Business Economics (15 credits)

This module will give you an understanding of the economic concepts and models appropriate to business decision-making. It will use economic theory to explain and analyse the behaviour of consumers, organisations and the economy in general, discuss how economics has developed as an explicit ethical science and how its theory can be used to help management decision making.

Topics studied may include:

  • an introduction to economics
  • microeconomics
  • economic models
  • supply, demand and market equilibrium
  • competition
  • pricing
  • market failure
  • aggregate demand and supply
  • inflation
  • unemployment
  • growth
  • trade.

Small Business and Entrepreneurship (15 credits)

This module will present a range of issues affecting small and medium-sized enterprises (SMEs). It will, amongst others, assess the economic contribution of the SME sector, describe the growth patterns of SMEs and identify the characteristics of entrepreneurs, evaluate the funding of SMEs and appraise the relationship between SMEs and their principal financiers.

Topics studied may include:

  • the small business sector and start-ups
  • entrepreneurs and owner-managers
  • elements of business plans for SMEs
  • strategy and growth in SMEs
  • growth models for SMEs
  • the financing and financial management of SMEs
  • management strategies in small firms
  • UK government policy towards SMEs
  • contemporary issues in the small firm sector
  • idea generation and evaluation
  • SMEs and innovation.

Corporate Financial Analysis (15 credits)

This module will develop the skills you need to analyse a given company and industry in great depth. You will explore a company's corporate finances and assess the industry environment within which it operates, identify appropriate tools of analysis and apply these to company or industry complex case studies, and critically assess different corporate finance strategies.

The module is case-study based and will see you will cover several examples related to corporate financial analysis.

Example topics for these case studies may include:

  • capital structure choices within the firm
  • cash management and firm liquidity
  • corporate valuation
  • mergers and acquisitions
  • capital budgeting and shareholder value.

Advanced Corporate Finance (15 credits)

This module will build on the Corporate Finance module by developing the skills you will need to analyse financing and investment decisions in corporations in greater depth. You will employ and assess advanced investment appraisal techniques that take into account real options, evaluate the role of internal capital markets in enabling corporations to finance investment projects in the presence of agency problems and information asymmetries, and appraise mechanisms that corporations may use to respond to various financial and operational risks.

Topics studied may include:

  • investment appraisal using real options
  • external financing capacity and credit rationing
  • internal capital markets
  • corporate finance and product market competition
  • corporate risk management.

Corporate Governance and Responsibility (15 credits)

This module will develop an understanding of corporate governance and responsibility and explore different governance mechanisms. You will assess the role of corporate governance in the broader corporate environment, analyse key aspects of current governance regulation and evaluate the operation and effectiveness of various corporate governance mechanisms on company behaviour.

Topics covered may include:

  • theories of corporate governance
  • regulation of corporate governance
  • boards of directors
  • ownership and control
  • executive remuneration
  • accountability and corporate social responsibility
  • international aspects of corporate governance.

How you'll be assessed

Modules are assessed by a combination of examinations and skills-based coursework. In general, the weight on examinations is higher than on coursework.

How you'll study

  • Lectures
  • Seminars
  • Tutorials
  • Independent study
  • Group work
  • Supervision
  • Workshops

Your personal and professional development

MSc Corporate Finance is ideal for students seeking to follow a career in the Financial Management function of a Business, Corporate Finance roles in Banks, as well as Accountancy and Management Consultancy.

Graduate destinations

Example initial job titles include:

  • Financial Management Trainee
  • Investment Banker – Financing / Corporate Deals,
  • Treasury Analyst
  • Corporate Finance Associate
  • Management Consultant
  • M&A Advisor

Your personal development

As part of our ongoing commitment to supporting you with your personal and professional development, all our Business and Economics postgraduate students have the opportunity to attend an impressive range of extra-curricular masterclasses and public lectures – all on campus and free of charge.

Entry requirements

Our entry requirements are listed using standard UK undergraduate degree classifications i.e. first-class honours, upper second-class honours and lower second-class honours. To learn the equivalent for your country, please choose it from the dropdown below.

Entry requirements for United Kingdom

A 2:1 honours degree (or equivalent international qualification) in business, accounting, maths, physics, engineering, computing, economics or a minor in finance.

Applications will also be considered from those who do not meet this criteria but who can demonstrate numerical proficiency and have either:

  • an appropriate professional qualification in finance
  • more than one year of relevant work experience if they have at least a lower second class honours degree (2:2).

Afghanistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Masters 95% 85% 70%

Albania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diplomë e Nivelit të Pare (First Level (University) Diploma (from 2010) 9.5 8.5 8

Algeria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licence (4 year) / Diplome d'Inginieur d'Etat / Diplôme d'Etudes Supérieures 16 14 12

Argentina

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Argentina 8.5 7.5 6.0

Armenia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalavri Kochum 90% 80% 70%
Magistrosi Kochum 3.9 3.5 3.0

Australia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Honours degree (AQF level 8) First Class, 80% Upper Second, 70%, H2A Lower Second, 60%, 2B
Ordinary degree - AQF Level 7 pass (mark 46 or 50) High Distinction (80% or 85%) Distinction (75% or 80%) Distinction (70% or 75%)

Austria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree/ Diplomstudium / Magister degree A (or 1.5) mit Auszeichnungbestanden 60% or B or 3.0 (or 2) 50% or C or 2.7 (or 3)

Azerbaijan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalavr Diplomu 4.5 4 3.5
Diplomu (Specialist Diploma) 90% 80% 70%

Bahamas

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Bahrain

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.8

Bangladesh

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
BUET or 'Good Private' University - 4 year degree BUET - 1st (70%) / 3.5 BUET - 2nd (60%) / 3.0 BUET - 2nd (55%) / 2.75
Other universities - Masters (1-2 years) following a 3 or 4 year degree 80% / 4.0 65% / 3.25 50% / 2.5

Barbados

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Barbados - Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Belarus

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Specialist Diploma (5Yr) 9 7 5

Belgium

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor degree Magna Cum Laude Cum Laude 60%/12
Licenciaat 80% 70% 60%
Licencie 17 14 12

Belize

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Benin

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Maitrise 18 15 or Bien 12 or Assez Bien

Bermuda

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Bolivia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
A Licenciado, 4 years Private (public/private) 85/78 75/66 67/55

Bosnia and Herzegovina

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma Visokog Obrazovanja / Diplomirani 10 9 8

Botswana

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's degree A or 80% B or 70% C or 60%

Brazil

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Brazil - 4 yr Bacharel or Licenciado/Licenciatura or Título Profissional 8.5 (A) 7.5 6.0

Brunei

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Brunei First Upper Second (60%/B/3.1) Lower Second (50%/C/2.7)

Bulgaria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
5 yr Diploma za Zavarsheno Visshe Obrazovanie (Diploma of Completed Higher Education) 6 5 4

Cambodia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 years 90% or 9 or 4.0 80% or 8 or 3.5 70% or 7 or 3.0

Cameroon

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor degree or Diplome d'Etudes Superiures de Commerce 1st or 15 2:1 or 14 2:2 or 12.5
Diplome d'Ingenieur or Diplôme d'Ingénieur de Conception or a Maitrise or a 4 year Licence 20 or GPA 3.7 20 or Bien (GPA 3.4) 20 or Assez Bien (GPA 3.1)

Canada

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0/percentage scale 3.7/85% 3.3/75% 2.7/68%
Out of 9 8 6 5
Out of 12 10 8 6

Chile

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Grado de Licenciado / Título (Profesional) de [subject area] (4 years) 6 5.5 5

China

Students are required to have a bachelor degree (4 years) for entry to a postgraduate programme. The University uses the Shanghai Academic Ranking of World Universities to identify the required final mark, as outlined on the table below:

First class (70%) Mid 2:1 (65%) 2:1 (60%) Mid 2:2 (55%) 2:2 (50%)
Shanghai Rank Top 250 85% 81% 80% 78% 77%
Shanghai Rank 251-500 89% 84% 83% 81% 80%
Shanghai Rank 501+ 92% 87% 86% 85% 82%

Affiliated colleges

The University will consider students from Affiliated Colleges in the following way:

Applicants from colleges affiliated to universities in the top 250 Shanghai rankings will considered if they have achieved or are likely to achieve final marks of 80%-84%.

Applicants from colleges affiliated to universities which are 251-500 in the Shanghai rankings will considered if they have achieved or are likely to achieve final marks of 82%-87%.

Applicants from colleges affiliated to universities which are above 500 in the Shanghai rankings will considered as follows:

  • School of Business and Economics: not considered
  • All other programmes if they have achieved or are likely to achieve final marks of 82%-87%.

Universities given special consideration

Applicants from a small number of Chinese universities that specialise in business, management, finance or creative arts will be given special consideration by the University. The full list of these universities and the Shanghai band under which they will be considered can be found in the PDF below.

Download the list of Chinese universities given special consideration here

Students who do not meet the above requirements may occasionally be considered if they have a relevant degree, can show good grades in relevant subjects, and/or have substantial relevant work experience.

Colombia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado / Título de [subject area] 4.5 3.75 3.2

Costa Rica

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado 9 8 or 80 7 or 75

Croatia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Baccalaureus / Prvostupnik 4.5 3.8 3.0

Cuba

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4-year Titulo de Licenciado / Licenciatura 5 4 3

Cyprus

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Cyprus 8.5 7.0 6.5

Czech Republic

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalár (after 2001) 6 yr integrated Magistr 1 1.5 2

Denmark

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
5 year Candidatus/Candidata Magisterii or Bachelor degree (7 point scale) 12 10 7

Dominican Republic

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 year Licenciado 3.8 Magna Cum Laude 3.5 Cum Laude 3.2
Título de [subject area] - 85% 82%

Ecuador

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Título de Licenciado 8.5 8 7
Título de [subject area] 85% 80% 70%

Egypt

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Egypt 3.5 3.2 2.8
Universities only BA 90%, BSc 85% BA 80%, BSc 75% BA 65%, BSc 65%

El Salvador

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
5 year Licenciado 8.5 7.5 6.5
Título de Ingeniero 85% 75% 65%
Arquitecto - Muy Bueno Bueno

Estonia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalaureusekraad or Magister or Magistrikraad 5 or A 4 or B 3 or C

Ethiopia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's A/GPA 4.0 A/GPA 3.5 B/GPA 2.8

Finland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Kandidaattii/Kandidat (out of 3) 3 2 1
Maisteri/Magister (out of 5) 4.5 3 2.5

France

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licence (3 years)/ Maitrise/ Diplôme d'Ingénieur 14 12 11

Georgia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4-year degree (% = new system) 5 (95%) 4.5 (85%) 4 (75%)

Germany

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
German Bachelor/ Diplom, Magister Artium / Zeugnis über den Zweiten Abschnitt der Ärztlichen Prüfung 1.5 2.5 3.0

Ghana

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Ghana First Upper second/60% Lower second/50%

Greece

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
AEI 8.5 7.0 6
TEI 8.5 7 6.5

Grenada

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of West Indies - classification 1st 2:1 2:2
Degree from University of West Indies - grade / percentage A B / 75% C / 55%
Degree from University of West Indies - GPA 3.6 3.0 2.0

Guatemala

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Liceniado / Titulo de (subject area) - 4years 90% (public university) / 95% (private university) 80% (public university) / 85% (private university) 60% (public university) / 70% (private university)

Guyana

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's GPA 4 GPA 3.5 3.0

Honduras

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Título de Licenciado / Grado Académico de Licenciatura (4 year degree) - GPA out of 5 GPA 5 or 90% GPA 4 or 80% GPA 3.5 or 70%

Hong Kong

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.5

Hungary

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Alapfokozt or Egyetemi Oklevel / Bachelor 5 4 3

Iceland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Baccalaurreatus degree or Kandidatsprof/Candidatus Mag 8.5 7.5 6.5

India

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Institutions listed on the Indian Ranking of Higher Educational Institutions Framework 65% (First) 60% (First) 55% (Upper second)
All other Indian institutions 70% (First with distinction) 65% (First) 60% (First)

Indonesia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sarjana I (S1) from A (or B) credited Universities 3.7 (4.0) 3.3 (3.7) 3 (3.3)

Iran

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Iran 17 15 13

Iraq

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Iraq 80% 75% 70%

Ireland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Republic of Ireland First (70%) Upper second (60%) Lower second (50%)

Israel

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
3 yr Bachelor Degree 90% 80% 70%

Italy

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma di Laurea 109/110 104/110 (or 27) 100/110 (or 26)

Ivory Coast

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diplome d'Etude Approfondies, Diplome d'Etude Superieures or Diplome d'Etude Superieures 16 14 (Bien) 12 (Assez Bien)

Jamaica

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
For degrees studied at The University of West Indies or degrees accredited by UCJ and CCCJ 1st (GPA 3.6) 2:1 (GPA 3.0) or B 2:2 (GPA 2.0) or C

Japan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Japan 85% 80% or B or 3.0 70% or C or 2.0

Jordan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3 or 3.5/5 or 75% 2.8 or 65%

Kazakhstan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 5.0/percentage scale 4.5 or 90% 4 or 85% 3.5 or 80%
GPA 4.33 scale 3.9 3.7 3.2
GPA 4.0 scale 3.7 3.4 3

Kenya

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Kenya First / 70% / A Upper second / 60% / B Lower second / 50% / C

Kosovo

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Kosovo 10 9 8

Kuwait

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.6 3.0 2.8

Latvia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Latvia 9 7 6

Lebanon

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
American 90% (3.5) 80% (3.2) 70% (2.8)
French 18 15 12

Liberia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's 4.0 or 90% 3.5 or 85% 3 or 80%

Libya

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
BSc Engineering, Architecture, Medicine 85 (3.6) 75 (3.0) 65 (2.5)
Other bachelor's degree from a university 90 (4.0) 85% (3.6) 75% (3.0)

Lithuania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Lithuania 9 8 7

Macau

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Macau 1st or GPA 3.7 2:1 or GPA 3.0 2:2 or GPA 2.5

Macedonia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Macedonia 10 9 8

Malawi

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's only MSc 75% MSc 70% MSc 65%

Malaysia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification First Class 2.1 2.2
GPA 4.0 scale 3.5 3.0 2.8

Malta

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Malta 1st (80%) 2:1 (70%) 2:2 (55%)

Mauritius

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Mauritius 1st or 70% 2:1 or 60% 2:2 or 50%

Mexico

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Mexico 9 8 7

Moldova

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma de Licenţă (Diploma of Licentiate) 10 9 8

Mongolia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Диплом Специалиста (Specialist Diploma) 90% or 3.5 80% or GPA 3.2 70% or GPA 3.0

Morocco

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Morocco 17 15 13

Mozambique

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 year Licenciatura 16 14 12

Myanmar (Burma)

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
2 year Master's degree 5 or 85% 5 or 75% 4.5 or 65%

Namibia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Namibia 80% or A 70% or B 60% or C

Nepal

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's (after 3 year bachelor degree) 90% or 3.9 GPA 80% or 3.8 GPA 65% or 3.3 GPA

Netherlands

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Netherlands 8 7 6

New Zealand

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 Year Honours degree (480 credits) - Level 8 First (7.0) Upper Second (6.0) Lower Second (4.0)

Nicaragua

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciatura (4 year) 90% 80% 70%

Nigeria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
7 point Scale 6 5 4
5 point scale 4.5 3.8 3.5
4 point scale 3.5 3 2.5

Norway

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Norway A B C

Oman

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.5

Pakistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Public Universities 4 Year degree only First with distinction (75%) / 4.0 First (65%) / 3.2 Second (59%) / 2.6
Private Universities 4 Year degree only First with Distinction (85%) First (75%) First (65%)
2 or 3 year bachelor's plus Master's First (60%) Second (55%) Second (50%)

Palestine

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor Degree A / 90% / 3.7 B+ / 85% / 3.3 B / 80% / 3.0

Panama

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 Year Licenciado / Título de [subject area] 91 (A) 81 (B) 71 (C)

Papua New Guinea

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Papua New Guinea 1st 2:1 2:2

Paraguay

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Paraguay - 4 3.5

Peru

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 Year Título de Licenciado / Título de [subject area] 14 13 12

Philippines

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from prestigious state universities or Centres of Excellence (COE) Summa Cum Laude 4.0 / 96% / 1.0 Magna cum Laude 3.5 / 92% / 1.5 Cum Laude 3.0 / 87%/ 2.0

Poland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor Degree (post 2003) Magister (pre- 2003) 5 4.5 / 4+ 4

Portugal

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Portugal 18 16 14

Qatar

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.8

Romania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma de Licenta/ Diploma de Inginer 9 8 7

Russia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Russia 4.5 4.0 3.5

Rwanda

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 year bachelor (Hons) degree (480 credits) 1st, 16/20 (80%) 2:1,14/20 (70%) 2:2, 12/20 (60%)

Saudi Arabia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.8
GPA 5.0 scale 4.5 3.75 3.5

Senegal

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Maitrise, Diplome d'Etude Approfondies,Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees 16/20 or Tres Bien 14/20 or Bien 12/20 or Assez Bien

Serbia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diplomirani/ Bachelor's degree 9 8 7

Sierra Leone

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification - 2:1 2:2
Percentage grading - 60-69% 50-59%
Letter grading - B+ B

Singapore

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification First Upper second Lower second
GPA 4.0 scale 3.7 3.0 2.7
GPA 5.0 scale 4.5 3.5 3.0

Slovakia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Slovakia 1.5 or B 2.0 or C 2.5 or C/high D

Slovenia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Slovenia 9.5 8.5 7

South Africa

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification 1st 2:1 2:2
Percentage scale 75-100% 70-74% 60-69%

South Korea

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA out of 4.5 4.0 / A 3.5 / B 3.0 / C+
GPA out of 4.3 4.0 / A 3.0 / B 2.7 / C+

Spain

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado / Título de Ingeniero / Título de Arquitecto 8.5 7 6.5
UCM grading 3.0 2.0 1.5

Sri Lanka

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sri Lanka 70% 60% 55%

Sudan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sudan (North and South) 1st or 70% or B+ 2:1 or 66% Mid 2:2 or 60% or B

Sweden

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sweden - Overall grade of VG with a minimum of 90 credits at VG Overall grade of G with a minimum of 90 credits at G

Switzerland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Switzerland 6 5 4

Syria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
State universities 4 years of study 80% 70% 60%
Private universities 4 years of study 90% 80% 70%

Taiwan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Category 1 (4 year degree) 80% 75% 70%
Category 2 (4 year degree) 85% 80% 75%

Tajikistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Tajikistan - 4.5 4

Tanzania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Tanzania 1st 2:1 2:2

Thailand

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.2 2.8

Trinidad and Tobago

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
For degrees studied at The University of West Indies or degrees accredited by ACTT 1st or B+ or 70% 2:1 or B or 65% 2:2 or B- or 60%

Tunisia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licence, Maîtrise, Diplôme National d'Ingénieu 15 (tres bien) 14 (bien) 11 (assez bien)

Turkey

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Lisans Diplomasi or a Műhendis Diplomasi 3.5 3 2.5

Turkmenistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Turkmenistan - 4.5 4

Uganda

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Uganda 1st or 4.4 2:1 or 3.8 2:2 or 3.0

Ukraine

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Dyplom Magistra or a Bachelors degree (11 / 5) 11 or 5 9 or 4.5 8 or 4

United Arab Emirates

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.6

United States of America

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.2 2.8

Uruguay

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado (4 year) 10 9 8

Uzbekistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalavr Diplomi / Diplomi (Specialist Diploma) 90% or GPA 4.5 80% or GPA 4.0 70% or GPA 3.0

Venezuela

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado/Professional title. (4 year) 18/20 or 8/9 16/20 or 7/9 14/20 or 6/9

Vietnam

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Vietnam 8.0 7.0 6.0
4-point GPA scale 3.5 3.0 2.2

Zambia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's A or 4.0 or 80% B+, 3.5 or 70% B or 3.0 or 60%

Zimbabwe

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
3/4 year degree 1st or 75% 2:1 or 65% 2:2 or 60%

English language requirements

Applicants must meet the minimum English language requirements. Further details are available on the international website.

Fees and funding

UK / EU fee

Full-time degree per annum
£13,800

International fee

Full-time degree per annum
£23,200

Tuition fees cover the cost of your teaching, assessment and operating University facilities such as the library, IT equipment and other support services. University fees and charges can be paid in advance and there are several methods of payment, including online payments and payment by instalment. Fees are reviewed annually and are likely to increase to take into account inflationary pressures.

The fee stated is for a full-time student undertaking a master’s programme of 180 credits. Part-time students should divide the published fee by 180 credits and then multiply by the number of credits they are taking to calculate their tuition fees.

Find out more about master's degree funding