MSc Corporate Finance
This highly specialised degree will provide you a practical understanding of a wide range of corporate finance services and corporate transactions.
At a glance
- Study for one of the most recognised Masters courses within the corporate finance sector, affiliated with the CFA Institute.
- Study one of the most in-demand topics in the Finance Industry
- Gain knowledge and skills required by major corporate employers and investment banks
- Delve into highly specialised topics such as private equity, corporate governance and mergers and acquisitions and chose from over 15 other elective modules in a wide array of finance topics
- Experience a practice-centred delivery approach including hands-on workshops, case study based learning, financial analysis and trading simulations and programming sessions.
- Benefit from professional exam exemptions from the Corporate Finance Consultant Certificate (CFC) Programme
- Our masters graduates secure positions at prestigious employers worldwide, earning competitive salaries. Explore our graduate outcomes.
- Locations
- Whiteknights campus (Reading)
- Subject area(s)
- Finance (ICMA Centre)
- Start Date
- September 2025
- Duration
- 12 months
- Attendance
- Full-time
- Programme Director
-
Dr Dina Ghanma
Overview
(Class of 2023 careers outcomes)
(Class of 2023 careers outcomes)
Corporate financial management and investment banking is at the core of this Masters programme and the skills acquired are sought after in the City of London. In this MSc course, you will learn through hands-on sessions and extensive use of case-study based learning and financial analysis simulations. You'll be fascinated by the exciting world of investment banking, venture capital, private equity, corporate governance and mergers and acquisitions. You will specialise in corporate investment and capital budgeting decisions, IPOs, payout policy, capital structure, financial analysis, valuation and modelling, as well as risk management. You will also gain an in-depth understanding of financial markets, securities trading and quantitative techniques. You will also be able to specialise further through a wide range of additional elective topics.
The MSc Corporate Finance is affiliated with the CFA Institute. This is in recognition that this degree covers at least 70% of the CFA Program Candidate Body of Knowledge, the CFA Institute Ethical and Professional Standards, and other requirements. Parallel with your studies, you will also have the opportunity to prepare for the CFA level 1 exam.
Along with a comprehensive Finance focused careers development programme you will also have the option to undertake a summer work placement as part of your studies.
"The course offerings are expertly created and highly practical. There are diverse assessment methods, eliminating the need for filler papers. With many Chinese inhabitants and Chinese supermarkets, Reading is a very liveable and comfortable city that makes life very convenient. "
The MSc Corporate Finance is affiliated with the CFA Institute. This is in recognition that this degree covers at least 70% of the CFA Program Candidate Body of Knowledge, the CFA Institute Ethical and Professional Standards, and other requirements.
Parallel with your studies, you will also have the opportunity to prepare for the CFA level 1 exam.
Along with a comprehensive Finance focused careers development programme you will also have the option to undertake a summer work placement as part of your studies.
As a MSc Corporate Finance graduate, you will have the advantage of exemption from the Corporate Investment exam of its CFC qualification.
(Financial Times 2024)
(Financial Times 2024)
Graduate success
Key statistics for our Class of 2023 Finance graduates
((Class of 2023 careers outcomes))
(Class of 2023 careers outcomes)
(Class of 2023 careers outcomes)
Finance graduates one year after graduation are employed at the following organisations:
- Deloitte
- Boston Consulting Group
- UBS
- KPMG
- Société Générale
*The statistics on this webpage relating to careers and employment were obtained from the responses of Finance graduates who completed the Henley Masters Career Outcomes survey 12 months after their graduation, in Autumn 2024.
Careers, accreditation & progression
Continuing your career
There is a demand for professionals who combine an understanding of the financial markets with knowledge of the financial decisions facing companies in their day-to-day operations. Such professionals also need a clear insight into related fields including accounting, risk management, capital budgeting, debt and equity finance, financial planning, venture capital and mergers and acquisitions.
As a MSc Corporate Finance graduate, you will be well equipped to join careers in investment banks in the City of London and other international financial centres, professional services firms. This includes management consultancies and accountancy practices, and small, entrepreneurial ventures where an in-depth knowledge of finance will be of direct benefit to the owner/managers seeking to build their business.
Receive dedicated support from our award-winning careers team
We have an award-winning careers team that will support you through your postgraduate studies and four years after graduation.
Here is how Henley Careers can help you:
Careers Consultant appointments
Our Careers Consultant are here to help and support you with any careers related concern that you might have. Whether it’s CV advice, practicing for an interview, providing feedback if applications aren't successful or support planning your career goals. We are here to help empower you to progress in your career.
Events
Henley Careers organise numerous events aimed to help you build your confidence, develop the skills employers are looking for. Additionally, network with employers and expand your industry knowledge.
Alumni support
You can continue to book one-to-one appointments with your Careers Consultant and use our online resources. For up to four years after graduating we’re here to help and support in your career.
Career Smart
Get a head start in securing a graduate job by taking part in our online course, Career Smart. You can expect to learn about the graduate recruitment cycle in the UK. As well as where to look and how to start applying to jobs, and the different roles available to you.
For more information please see our Careers page.
Professional accreditations
Why Choose ICMA Centre?
The ICMA Centre is among the pioneers in finance education and renowned for its strong links with the financial services industry. The Centre was ranked number 7 in the UK for its Masters in Finance programme in 2023 (Financial Times Masters in Finance Ranking). It is also part of Henley Business School – among an elite group of 75 business schools in the world to hold triple-accredited status from the leading UK, European and US accrediting bodies: AMBA, EQUIS and AACSB.
The Centre’s unique practice centred approach includes a number of finance education innovations. These will provide you with a solid grounding for a career in the industry. The approach aims to equip you with a skill set that sets you apart from graduates of other finance programmes. Your employability track record is also bolstered by an in-house comprehensive career development programme.
Reading has proximity to the world’s top financial centre (25 minutes from London Paddington). Several leading professional bodies including the CFA, CISI, GARP and ICS validate our programmes and offer exam exemptions to our students.
Joining one of the top schools of finance in Europe, you will benefit from state-of-the-art facilities. You will have access to the latest technology and will be taught by world-renowned faculty and industry experts. Our innovative teaching and learning environment includes trading and financial analysis simulations. We also have the latest financial data and programming software. Our three dealing rooms are one of the largest facilities of its kind in the world. They provide an ideal setting for understanding how businesses and markets function in practice.
Our students’ learning experience is a top priority for academic faculty and administrative staff at the ICMA Centre. This is reflected in the latest student satisfaction rates in the PTES and NSS student surveys.
How we teach you
Our on-campus MSc programmes are available only on a full-time basis, studying for 12 months.
Students will be resident and undertake full-time study in the UK, taking a combination of compulsory and elective modules throughout the academic year.
Course Structure
September - December: Semester 1
January - February: Semester 1 Assessments
February - May: Semester 2
May - June: Semester 2 Assessments
June - September: Summer Semester
August - September: Summer Assessments and Semester 1 & 2 Resits
Assessments can also be due during the teaching weeks. Summer Semester resits are scheduled as needed and could be as late as January/February of the following year.
Master the Language of Business: Your Competitive Edge at Henley
Success in business isn’t just about practical skills but also how you communicate your ideas, influence others, and collaborate across cultures. That’s why, as a Henley Master’s student, you have the exclusive opportunity to join our Effective Communication: Language Skills for Business module, designed to boost your confidence and fluency in English for academic, professional, and networking success.
This free, non-credit-bearing course runs in parallel with your studies and is delivered by Henley Business School in partnership with the International Study and Language Institute (ISLI) at the University of Reading. It is part of a series of innovations at Henley designed to support your academic and professional development, ensuring you graduate with the skills to succeed in a global business environment.
The course is designed to help you:
- Express yourself clearly and persuasively in seminars, presentations, and discussions.
- Write with impact, from emails and reports to case studies and reflections.
- Master the language of business, learning industry-specific terminology and communication styles.
- Boost your employability with key professional communication skills, from networking to interview preparation.
Who Can Join?
- Students who meet the selection criteria based on their English level will be invited to take part.
- Any other student who wishes to enhance their communication skills can voluntarily join, ensuring everyone has access to this career-boosting opportunity!
Taught in an interactive, business-focused format, this module integrates real-world business scenarios, digital tools, and personalised feedback to help you thrive at Henley and beyond.
Course structure
Exclusively available to Henley Business School offer holders, the Pre-study course suite comprises of innovative short courses designed and developed by Henley faculty on the Futurelearn platform, one of the leading online learning platforms.
Building blocks of finance (-)
An innovative short course designed and developed by Henley faculty on the Futurelearn platform, one of the leading online learning platforms.
Building blocks of maths and stats for finance (-)
This pre-study interactive course is designed by ICMA Centre faculty to prepare you for your learning journey at Henley if you are undertaking postgraduate study in any finance-oriented subject.
Future of Work: Coding with Python for Business & Finance (-)
A course delivered online by Henley faculty and you will receive online support from one of our teaching staff members and be able to interact with other prospective students in your course.
Study skills for success (-)
This course will provide building blocks of knowledge to help you prepare for your learning journey in the area of your choice as well as equip you with key employability and study skills for successfully navigating your studies and professional career.
Below is a list of programme modules that will be available in 2024/25, please note that some of these modules are new for the academic year. For any other modules which are available for both this academic year and next, follow the “More Information” link to see more.
Investments (ICM401)
20The module aims to equip students with the main principles of Investment Theory. It begins with an overview of the interaction between users and suppliers of capital and the theory behind investor behaviour towards financial risk and reward.
Financial Securities and Markets (ICM402)
20This module focuses on fixed income and equity securities evaluation and provides an introduction to international financial markets and an overview of financial institutions.
Part I of the module applies general valuation methods to specific financial instruments: fixed income and equity securities. It describes the basic characteristics of each security and develops practical strategies for finding its value and assessing its risk.
Econometric Analysis for Finance (ICM337)
20This module equips you with the quantitative tools used by market participants. The module uses a mixture of (1) lectures where the theory and concepts are introduced and (2) seminars and workshops where we apply the knowledge to practical cases.
It is an introductory applied econometrics module with an emphasis on finance.
Corporate Finance and Financial Reporting (ICM405)
20This module aims to offer students an introduction to corporate finance theory and an appreciation of practical applications, including capital budgeting. The module will explore how management decisions relating to financing and payout can affect firm value. Confidence will be built in using financial reports and statements to comment on a firm’s performance and value.
Below is a list of programme modules that will be available in 2024/25, please note that some of these modules are new for the academic year. For any other modules which are available for both this academic year and next, follow the “More Information” link to see more.
Investment Portfolio Management (ICM340)
20This investment portfolio management module covers key topics, techniques and discussions, including investment styles, in relation to constructing and maintaining an optimal investment portfolio. The teaching approaches all topics from academic and market, practical perspectives. More detailed aims and learning outcomes are included below.
Private Equity and Venture Capital (ICM513)
20The principal aim of the module is to familiarise students with the private equity (PE) and venture capital (VC) fund raising and investment process and with M&A deals. The purpose is to develop students’ appreciation of the practical aspects of investing by PE and VC firms, understanding the dynamics between the PE and VC investor and the entrepreneur, and also the practicalities of raising PE&VC funds from institutional investors and transacting M&A deals.
Corporate Financial Modelling for Investment Banking (ICM512)
20The module is designed to develop practical corporate financial modelling skills that can be applied in roles within corporations, investment banks, and investment firms. It provides a rigorous grounding on the practice of valuation in application to a real-world company with a focus on Mergers and Acquisitions. The module is co-taught by Financial Edge, a leading industry trainer for analysts at top investment banks.
Students select 20 credits from the following;
Behavioural Finance (ICM302)
20Financial theories have traditionally assumed that rational, risk-averse investors trade in efficient and free-flowing asset markets. Academic research and practitioner experience have cast doubt on this paradigm, instead proposing that investors may not be utility maximisers, and that there may be impediments to the functioning of markets. This module will describe recent developments in the application of principles drawn from psychology to financial issues.
Research Project (ICM218)
20The aim of the research project is to allow students to define and execute a piece of research in finance on a topic of their choice, with direction from an academic supervisor and with assistance from a doctoral student support supervisor.
Bond and Money Markets: Pricing, Trading and Portfolio Strategies (ICM519)
20The main aims of the module are to provide the tools for understanding the functioning and pricing of money markets, their connection with bond markets and central bank interventions, the fundamental determinants of interest rate markets and the commonly used trading strategies and portfolio management strategies.
Governance, Power and Accountability (ICM336)
20This module introduces students to the theory and practice of governance with a particular emphasis on corporate governance. The module then focuses on a critical discussion of power and accountability, with a particular focus on corporate power and corporate accountability to societal stakeholders
Ethical Dilemmas in Finance (ICM515)
20This module prepares students for careers in finance. It is also useful for those considering careers in government or in multilateral organisations.
The module encourages the development of critical perspectives
on whether and why ethics matter. Students will explore why ethical
decision-making in finance matters, given the extent of power that is moderated
by global finance.
Sustainable Investments (ICM516)
20This module explores how financial investors incorporate sustainability considerations and environmental, social and governance (ESG) criteria into their investment decisions. The module offers an introduction to the main sustainable investment strategies, the main players (governments, supranational institutions, corporations, investment funds, banks) in the sustainable investment space and the application of sustainable investment in different asset classes.
Students take one optional module;
Advanced Finance Theory with Empirical Applications (ICM289)
20This module is designed for advanced Master’s students and doctoral students. It has a very high technical content. It aims to equip the students with the foundations of theoretical asset pricing and with the relevant skills for performing empirical tests. Additionally, a few important corporate finance topics will be covered in the format of student presentations. The objective of the module is to prepare students to become independent and quality researchers.
Work Placement and Project (ICM309)
20This module gives students the opportunity to pursue a work placement with an external organisation broadly related to the general sphere of their degree studies. The aim of the module is to allow participants to gain work experience in a career path of interest, develop a wide range of employability skills, build their network and enhance market awareness. The maximum duration of the placement is 3 months and it takes place during the summer period (June-August). Placements should be secured by students independently. The Centre’s career development office can support students in their search and application process. Placements secured by students are subject to the approval of the module convenor. The module is assessed by a 3,000-word project based on the work experience gained.
Alternative Investments and Structured Products (ICM613)
20This module aims to provide students with an understanding of financial decision making in the context of alternative investments and to introduce the key principles and techniques of financial engineering used in structured product design.
Stock Index Futures (ICM308)
20The module is less quantitative option open to all MSc students that builds on the coverage of futures contracts from term 1. By the end of the module it is expected that students will be aware of the different ways of constructing stock market indices and the implications of these differences, how futures contracts are traded and the identity of some of the close substitutes for trading index futures, how futures can be priced using an arbitrage relationship, how futures can be used for hedging the price risk of the underlying, and the various uses that fund managers make of these instruments.
Algorithmic and High Frequency Trading (ICM612)
20Industry participants estimate that 70-80% of equity trades are executed through computers. Market-makers in equity, fixed income and currency markets use algorithms to automatically adjust their quotes.
Sustainability in the Business World (ICM614)
20Sustainability is becoming a priority not only in government policy but also in business strategy. The role of the private sector in achieving sustainable production and consumption models is key to preserve fast depleting natural resources, improve social justice and reduce inequalities, address climate change and loss of biodiversity. This module explores how sustainability can be incorporated in business practices and balanced with corporate growth objectives.
Modules or course content marked as optional are indicative and may be subject to change. Please note, constraints in timetable scheduling may mean you are unable to take some optional modules at the same time as others.
Fees & funding
| Fees | |
|---|---|
| 2025 entry | £15,500 |
Scholarships
Scholarships for 2025 are now open. For more details, visit our scholarships webpage.
Current scholarships
Entry requirements
- Undergraduate Degree – A good second class honours degree or the equivalent from an Internationally recognised University*
- Degree Discipline – Any degree discipline, but must have a satisfactory existing level of numeracy
- Building Blocks of Maths and Stats for Finance course – We may ask you to complete and pass the free online two-week Building Blocks of Maths and Stats for Finance course developed by the ICMA Centre on the FutureLearn platform, if we think it is appropriate in your individual case. For example, if you have been out of education for more than a few years or have little evidence of any numerical ability.
* Please note that due to increasing competition for places on our Masters programmes our entry requirements may change.
We operate a rolling admissions system and you are therefore advised to apply early in order to be sure of your place on our programmes. We experience high levels of demand, and it is possible we might have to close applications to some programmes once places are filled.
English requirements
Studying in a second language can be challenging. If your English language ability is below the minimum requirement, we may ask for evidence of proficiency. Alternatively, we may ask you to attend an English language course before you begin your studies with us.
| Requirement | Criteria |
|---|---|
| IELTS | 6.5 with no component below 5.5 in any sub-skills |
| IELTS with pre-sessional English | 6.5 with no component below 5.5 in each of the four sub-skills |
Pre-sessional English Programme
The Pre-sessional English Programme is for international students who need to meet their degree programme English language requirements. Our courses equip you with the skills and language needed for academic success, including critical thinking, self-reflection, learner autonomy, research skills and integrating sources. The Pre-sessional English Programme is accredited by the global association of Lecturers in English for Academic Purposes, which guarantees you will receive a high-quality student experience.
Find out about our comprehensive range of Pre-Sessional English courses
Acceptance of LanguageCert Online and DuoLingo English qualifications
We appreciate the difficulties that some students are having with the availability of English Language tests, as the impact of the global pandemic continues. As a result of this, we are pleased to announce that we can now accept the non-SELT version of LanguageCert (which includes the online version) and DuoLingo as suitable English language qualifications. These can be accepted for direct entry onto Undergraduate (except Speech and Language Therapy), Postgraduate Taught (except Speech and Language Therapy) and Postgraduate Research programmes.
For information on individual programme requirements and other English language qualifications, please visit our English requirement equivalent page.
If you require specific advice on your qualification please contact admissions directly by e-mail or telephone on +44 (0) 118 378 5289.
UK visa requirements
You may need to obtain a UK visa. This visa will allow to live and study in the UK. See the UK Border Agency website.
Graduate Route
The UK's Graduate Route post-study work visa allows you to apply to stay in the UK for up to two years after you graduate, with the opportunity to undertake skilled work. Visit the University website for the latest information.
How to apply
Apply for 2025 entry now
Apply online now through the University of Reading’s online application service.
The online application service allows you to complete your application information, and attach electronic copies of your academic transcripts, certificates and other supporting information. It also provides a facility for an email request to be sent to your referees. This enables the referees to send your supporting references directly to us.
When to apply
We operate a rolling admissions system and it is recommended that you apply early to secure your place. There is no specific deadline and applications will be considered until the programme is full. However, to allow us time to process your application we recommend that you apply by the following dates:
| UK/Home applicants | International applicants |
|---|---|
| 1 August | 1 July |
After you apply
You will receive a confirmation email when we receive your application form. Your application is then reviewed by a member of staff. If successful, you will receive a formal offer letter outlining any necessary entry criteria you will need to meet. You'll then be asked to confirm your acceptance of this offer.
If you require a Certificate of Acceptance for Studies (CAS) for your visa, details will be sent by email once all conditions of the offer have been met.
Throughout the admissions process we will keep you updated with key information via email. We also provide opportunities to interact with faculty and staff online.
Find us on Facebook and keep up-to-date with news and events at Henley or ask us a question. In addition, you can speak to a current student, our students are always happy to share their Henley experience.
Chat to our students
Speak to a current student
Contact us
For any questions of academic nature about this programme you are welcome to contact directly the Programme Director, Dina Ghanma at dina.ghanma@icmacentre.ac.uk
Admissions
If you have any questions about admissions, please don't hesitate to contact us.
Email: admissions@icmacentre.ac.ukTelephone: +44 (0)118 378 6497
The school's teaching facilities are advanced and highly practical. The market-making simulation software in the computer lab effectively helps students gain a deeper understanding of the "game" rules and patterns in the financial market.
Corporate and Investment Banking is the most enjoyed aspect of my course. My ability to value companies for merger and acquisition purposes greatly assisted me in securing my current job function and position.
The course offerings are expertly created and highly practical. There are diverse assessment methods, eliminating the need for filler papers. With many Chinese inhabitants and Chinese supermarkets, Reading is a very liveable and comfortable city that makes life very convenient.
