MSc Behavioural Finance

12 Months On Campus Masters Program

University of Reading

Program Overview

The MSc Behavioural Finance at the ICMA Centre helps you understand why people really make financial decisions, combining solid finance theory with insights from psychology to explain how markets behave in practice. It’s a great fit if you’re interested in investments, asset management, consulting, or policy roles and want an edge by understanding both numbers and human behaviour.

Curriculum structure

Year of study

At the start of the programme, you’ll build a strong grounding in core finance while being introduced to behavioural thinking. Modules such as Investments, Financial Securities and Markets, and Psychological and Behavioural Sciences for Finance help you understand how financial instruments work and how cognitive biases, emotions, and social influences affect investor decisions.

As the programme progresses, you’ll focus more directly on applying behavioural insights to real financial problems. Through modules like Behavioural Finance and Investment Portfolio Management, you’ll learn how behavioural concepts challenge traditional finance models and how portfolios are designed, evaluated, and managed in real-world market conditions.

In the final stage, you’ll put your knowledge into practice by completing a Research Project or choosing a Work Placement and Project, allowing you to explore a behavioural finance topic in depth or gain valuable industry experience. Optional modules such as Sustainable Investments and Private Equity and Venture Capital let you tailor the degree to your career goals.

Focus areas (in a string): behavioural finance, investment decision-making, financial markets, portfolio management, psychology of investors, applied financial research

Learning outcomes (in a string): ability to analyse financial markets using behavioural insights, understanding of investor biases and decision processes, practical investment and portfolio skills, strong research and analytical capability

Professional alignment (accreditation): aligned with the CFA Institute University Affiliation Program and recognised by the Chartered Institute for Securities & Investment (CISI)

Reputation (employability rankings): ICMA Centre finance programmes ranked among the UK’s top finance schools with strong global recognition and excellent graduate employability outcomes

Experiential Learning (Research, Projects, Internships etc.)

On the MSc Behavioural Finance, learning goes far beyond lectures and theory. At the ICMA Centre, you’ll regularly work with real financial data, professional-grade tools, and applied projects that mirror how decisions are made in the finance industry. You’ll build practical skills in analysing markets, understanding investor behaviour, and communicating insights — all within a setting that feels much closer to a financial workplace than a traditional classroom. As you progress, you’ll also have the option to gain hands-on industry experience through a structured work placement, helping you graduate with both knowledge and confidence.

That hands-on experience is built into the programme through the following opportunities and facilities:

ICMA Centre Dealing Rooms: You’ll study and practise in purpose-built dealing rooms equipped with Bloomberg and Refinitiv terminals, allowing you to analyse live market data and work with the same platforms used by investment banks and asset managers.
Finance Simulations and Applied Coursework: Selected modules incorporate trading and market simulations, helping you apply behavioural finance concepts to realistic pricing, risk and investment scenarios.
Independent Research Project: You’ll complete a supervised research project focused on behavioural finance, giving you the chance to investigate a topic that matches your interests while developing strong analytical and research skills.
Work Placement and Project Option: If you choose the placement route, you can spend up to three months working with an external organisation, gaining real-world experience and professional exposure alongside your academic project.
Programming and Technical Preparation: Optional preparatory courses such as Coding with Python for Business & Finance and Maths and Statistics for Finance help you strengthen your technical skills before and during the programme.
Careers and Professional Development Support: You’ll receive dedicated careers guidance from Henley Business School, including CV support, interview preparation, employer events and networking opportunities — available throughout your studies and after graduation.

Progression & Future Opportunities

Graduates from the MSc Behavioural Finance leave ready to step straight into roles where they can combine finance know-how with insights into human behaviour. Many go on to positions like Financial Analyst, Investment Consultant, Behavioural Research Associate, or Risk/Portfolio Analyst, working for global banks, consultancies, or investment firms. The programme’s practical approach and real-world exposure give you a clear edge in the job market:

Henley Careers Support: From the start of your studies and up to four years after graduation, you’ll have one-to-one guidance, CV and interview coaching, workshops, and networking events with leading employers.
Strong Employment Outcomes: Recent surveys show that almost 9 in 10 finance graduates were employed within a year, with an average starting salary of around £44,600, demonstrating the value of your skills to employers.
Industry Connections: Graduates have gone on to work at top organisations including Deloitte, UBS, KPMG, Boston Consulting Group, and Société Générale, giving you both inspiration and potential networking opportunities.
Professional Recognition: The programme’s affiliation with the CFA Institute University Affiliation Program and recognition by the Chartered Institute for Securities & Investment (CISI) means your degree carries long-term credibility and global recognition.
Flexible Career Paths: Beyond traditional finance roles, your skills in analysing markets and investor behaviour are valuable in consulting, regulatory agencies, or specialised research roles, giving you versatility in your career journey.

Further Academic Progression:
If you’re keen to continue studying, this Master’s sets you up perfectly for a PhD in finance, behavioural science, or related fields, opening doors to advanced research roles, academic careers, or high-level industry positions where deep analytical and behavioural expertise is prized.