MPhil in Finance

9 Months On Campus Phd Program

University of Cambridge

Program Overview

The MPhil in Finance at the University of Cambridge is an intensive 9-month master’s program that blends rigorous taught courses with research-driven learning, perfect for students who want to dive deep into quantitative finance. It’s designed for high-achieving students aiming for competitive roles in finance or preparing for a future PhD.

Curriculum Structure

Preparatory Phase (September)

Before the main program begins, you complete a compulsory online pre-course in mathematical and statistical methods. This ensures that every student enters the program with a strong foundation for the advanced finance modules ahead.

Core Academic Year (October–June)

Throughout the year, you take six core courses and select three electives, or choose to complete a research dissertation. Core modules include Corporate Finance I, where you explore investment decisions, valuation methods, and concepts such as WACC, APV, and real options.
In Asset Pricing I, you study how financial securities are priced through models like CAPM, multifactor models, return predictability, and term-structure models.
You also take courses such as Econometrics I (with the option to progress to advanced econometrics) and modules covering competitive market fundamentals or microeconomic theory, equipping you with tools to perform empirical research and understand market behavior.
Electives allow you to specialize in advanced finance, economics, or mathematical topics—useful for both industry-focused and research-focused pathways.

Focus Areas

Quantitative finance; corporate finance; asset pricing; econometrics and empirical research methods; microeconomic and market theory.

Learning Outcomes

You will develop strong analytical and quantitative skills, gain mastery over corporate finance and asset pricing models, and learn to apply econometric tools to real financial data. By the end of the program, you’ll be equipped to conduct high-level research or step confidently into competitive finance roles.

Professional Alignment (Accreditation)

The program is delivered by Cambridge Judge Business School in collaboration with the Faculty of Economics and the Faculty of Mathematics. Its research-intensive structure makes it a top pathway for students planning to pursue a PhD or technical roles in investment banking, asset management, financial consulting, or economic research.

Reputation (Employability Rankings)

The University of Cambridge is consistently ranked among the top universities globally, with outstanding outcomes for graduates in finance and economics. The MPhil in Finance is internationally recognized for its academic rigor, faculty excellence, and strong progression into elite finance careers and doctoral programs.

Experiential Learning (Research, Projects, Internships etc.)

In the MPhil in Finance at Cambridge Judge Business School, you step directly into the analytical world of modern finance. Before the program even begins, you complete a mandatory online pre-course in mathematics and statistics — this ensures you’re fully equipped for the rigorous quantitative work ahead.

Once on campus, your learning blends lectures, weekly research seminars, empirical analysis, and advanced theory. You’ll work hands-on with financial datasets, professional databases, and academic research tools. If you choose the dissertation pathway, you receive personalised one-to-one supervision, allowing you to conduct genuine academic research with guidance from Cambridge faculty.

You don’t just study theory — you apply it. You’ll run models, test hypotheses, evaluate real financial data, and engage with the same tools used in investment banking, trading, and asset management.
And from this practical approach, you transition naturally into structured opportunities such as:

✅ Experiential Learning Highlights:

Research-led learning environment: A blend of lectures, seminars, independent readings, case analysis, and optional dissertation research with direct supervision.
Professional finance databases and digital tools: Students gain access to Bloomberg, Capital IQ, Compustat, CRSP, Datastream (via LSEG Workspace), FAME, Fitch Ratings Pro, MSCI ESG datasets, and more — giving you hands-on experience with industry-standard platforms.
Quantitative skill development: Courses include mathematical and statistical methods, asset pricing, corporate finance, and advanced modules that involve real data modelling and quantitative implementation.
Electives across faculties: You can select courses from three powerhouse departments — Cambridge Judge Business School, the Faculty of Economics, and the Faculty of Mathematics — allowing you to strengthen technical or theoretical expertise based on your goals.
Peer learning and small-cohort collaboration: The program intentionally admits a small, international cohort, creating space for collaborative discussions, group work, and presentations that build clarity of thought and communication skills.
Preparation for industry or PhD pathways: The dissertation track allows deep engagement with empirical or theoretical research while the coursework route emphasises breadth across advanced finance topics.

🎯 How This Prepares You for Your Future

You graduate with strong quantitative and analytical capabilities — a distinguishing advantage in competitive finance roles.
You gain hands-on experience with real industry databases, making your technical skill set workplace-ready.
You develop research thinking, ideal for careers in asset pricing research, economic analysis, risk modelling, or progression to a PhD.
You benefit from Cambridge’s global academic reputation and its interdisciplinary strength across business, economics, and mathematics.

Progression & Future Opportunities

University career support
- Through Cambridge’s Careers Service you get 1-to-1 guidance, workshops, employer presentations, and recruitment events, giving you access to top global finance employers.
- You become part of a large, global alumni network — a long-term resource for mentorship, opportunities, and connections.
Excellent employment outcomes
- Graduates from this programme have gone on to well-known employers like major banks, consulting firms, and global financial institutions — from investment banks to advisory firms. The degree’s prestige and rigorous selection make MPhil students “highly competitive in the job marketplace.”
Strong academic & industry integration
- The curriculum is taught jointly by faculties of Economics, Mathematics, and the Business School — giving you a truly cross-disciplinary finance education.
- You’ll have access to top-tier financial databases and tools (e.g. Bloomberg, Capital IQ, DataStream, etc.), giving you practical data-analysis and research skills that employers value.
Long-term credibility & flexibility
- As one of the oldest and most prestigious master’s-level finance programmes globally, this MPhil carries weight across academia, banking, consulting, and financial research — making it a strong long-term credential.
- Because you gain both theoretical and empirical skills, you remain flexible — whether you aim for corporate finance, research, policy, or further academic study.
Graduation outcomes: career vs further study
- Some alumni choose to go into industry with roles in banking, consulting, asset management, or global financial firms.
- Others build on the MPhil as a stepping stone to doctoral studies: many graduates successfully progress to PhD programmes at Cambridge (or other top institutions worldwide).

Further Academic Progression:
If, after the MPhil, you decide you want to dive deeper into research or academia, you could pursue a PhD in Finance (for example at Cambridge itself) or in a related field like Economics or Financial Economics — thanks to the programme’s strong quantitative training and research-oriented curriculum.