We help students gain knowledge and skills in investment and financial markets. You will also explore the best practices in developing financial strategies used by leading Russian and international companies.
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Master of Finance
Recruitment closed
Online
Full-time online master's degree HSE
2025 year
Program starts
Full-time, fully online
Format
2 years
Duration
State-recognized Diploma with a Supplement Translated into English
Relevance of the Program
Financial analysts, who directly influence company profit growth, are in high demand on the market. According to the Institute for Statistical Studies and Economics of Knowledge at HSE University, this profession ranks among the TOP 25 jobs of the future.
According to projections by the U.S. Bureau of Labor Statistics, demand for financial analysts will grow by at least 6% by 2029.
According to projections by the U.S. Bureau of Labor Statistics, demand for financial analysts will grow by at least 6% by 2029.
What Financial Analysts Do
Search for investment solutions and resources to grow businesses
Apply financial innovations to create new products and services
Develop financial models and forecasts
Analyze and manage financial risks
Participate in financial optimization
State-owned corporations and fintech
Where Our Graduates Work
Asset management and investment firms
Consulting and audit firms
IT companies and banks
Financial institutions
Salaries by Experience
from 100,000 ₽
Auditor
from 150,000 ₽
Financial Analyst
up to 1 year of experience
1–3 years of experience
from 200,000 ₽
Finance Director
3+ years of experience
Career Opportunities
Graduates will be able to build careers in financial analysis and apply for positions such as financial analyst, strategic and financial manager, finance and investment director in top companies, including:
Sign Up for a Consultation
We'll contact you to discuss the program details and answer any questions you have - completely free of charge.
About HSE Online
HSE Online is the virtual campus of HSE University. We have over 30 years of experience in education and research, along with more than a decade of expertise in online education.
You will be taught by professors, researchers, and industry experts who combine academic and practical work.
You will be taught by professors, researchers, and industry experts who combine academic and practical work.
96%
of students find jobs in their field during or immediately after graduation
Leader
38
Online Higher Education Programs
More than 7500
Students
Award Winner
“Breakthrough of the Year”
“Best Youth-Oriented Project”
“Online University of the Year”
#1
Russian University according to HeadHunter Ranking
Gold in the international online education ranking
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About the Program
Master of Finance is a unique online Master’s program developed by HSE University based on international standards. You will learn about cutting-edge approaches to investing in financial markets and apply them in practice through seminars, workshops, and project work.
Faculty members are industry leaders, board members, heads of departments at major financial institutions, and holders of CFA, FRM, and ACCA certifications.
Faculty members are industry leaders, board members, heads of departments at major financial institutions, and holders of CFA, FRM, and ACCA certifications.
In the previous academic year, students rated the course content 4.5 out of 5, and teaching quality 4.4 out of 5.
*According to student assessment of the teaching process
Advantages of Distant Learning
On-demand Theory
Watch lectures at your own pace and convenience.
Full Access to Materials
All course materials are available from day one.
Flexible Schedule
Webinars, master classes, and project work are held live with recordings available afterwards.
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3
2
Practice-Oriented
The program includes mentor-led seminars, project labs, and career events.
Personalized Learning Path
You choose elective courses, set your schedule, and manage the pace of learning.
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5
Course Content
Module 1
Quantitative Methods in Finance
Macroeconomics (Advanced Level)
Module 2
Quantitative Methods in Finance
Macroeconomics (Advanced Level)
Module 3
Corporate Issuers
Econometrics (Advanced Level)
Time Series Analysis
Module 4
Financial Markets: FX, Debt and Equity Market
Investment Banking. Merges and Acquisitions
Project and Venture Financing
Entrepreneurship and Financial Environment
Stochastic Analysis in Finance
Theory of Finance
Theory of Finance
Financial Reporting and Analysis
Core Courses
Elective Courses
Module 1
Alternative Investments
Derivatives and Financial Engineering
Module 2
Portfolio Management and Wealth Planning
CFA Ethic and Professional Standards
Module 3
Financial Risk Management
Financial Modelling
Module 4
Graduation Thesis
Business Valuation
Forecasting at the Financial Markets
Core Courses
Elective Courses
Faculty
Skills After Graduation
How to Apply
Review the program curriculum
Sign up for a consultation to get answers to all your questions
Upload your documents to your personal account
Successfully pass the entrance exams
Sign the contract
Start learning and become a sought-after specialist
Student Testimonials
My name is Anton, I graduated with a Bachelor’s degree from HSE program Economics and Statistics after which I entered the Master’s program Finance.
At the moment I work in IB in M&A, the main focus of my activity is to support M&A deals on Sell-Side and Buy-Side sides, as well as implementation of projects on raising private equity, bank and mezzanine financing.
The online format has exceeded all expectations, all elements of control are fully built in the format of tests and project
At the moment I work in IB in M&A, the main focus of my activity is to support M&A deals on Sell-Side and Buy-Side sides, as well as implementation of projects on raising private equity, bank and mezzanine financing.
The online format has exceeded all expectations, all elements of control are fully built in the format of tests and project
Anton Ivanenko
Student of the program
My expectations from the program were fully met, I gained a lot of new knowledge, as well as consolidated the existing knowledge in the field of investment analysis and corporate finance.
I would like to mention the instructors separately: all of them are practicing professionals and CFA chartholders, each of whom actively shared their experience. I would like to emphasize Sergey Zakharov’s course on Investment Banking and Anatoly Potashov’s courses, which helped me a lot in the future and were as helpful as possible.
I would like to mention the instructors separately: all of them are practicing professionals and CFA chartholders, each of whom actively shared their experience. I would like to emphasize Sergey Zakharov’s course on Investment Banking and Anatoly Potashov’s courses, which helped me a lot in the future and were as helpful as possible.
Artem Karapetyan
Student of the program
I am the president of Blagochein LLC and an IT entrepreneur. The online format of the classes allows me to learn without taking time off from my business and business trips, I can connect to the classes from my office, airport lounge, hotel.
It is important for me that the lectures are held in real time. And if for some reason I could not attend the webinar, I can watch it in the recording, ask questions about the material or practical tasks in chat with the teacher and get an answer. I would like to note
It is important for me that the lectures are held in real time. And if for some reason I could not attend the webinar, I can watch it in the recording, ask questions about the material or practical tasks in chat with the teacher and get an answer. I would like to note
Alexander Belanov
Student of the program
Student of the program
Anna Meshkova
I work in the finance sector at one of Russia’s leading metal-producing companies. Enrolling in the Master of Finance program at HSE, taught entirely in English, has been a transformative step in my professional journey, and I couldn’t be happier with the experience. I had been searching for a program like this for quite some time, and it has exceeded all my expectations.
The online format is outstanding, offering incredible flexibility for busy professionals like me. I can attend lectures at my own pace, whenever my schedule allows, which makes studying not
The online format is outstanding, offering incredible flexibility for busy professionals like me. I can attend lectures at my own pace, whenever my schedule allows, which makes studying not
During the program I was convinced of its applied orientation and relevance for professional development in corporate finance. Recently, I received an invitation to an internship in KPMG’s Deal Advisory Department. Preparation for the selection was largely based on the knowledge and skills acquired during the training process.
The course structure, well-developed materials and the opportunity to explore a topic of interest in depth through coursework provided a good basis for passing the tests
The course structure, well-developed materials and the opportunity to explore a topic of interest in depth through coursework provided a good basis for passing the tests
Mariam Abildina
KPMG, Intern, Deal Advisory Department
In the summer of 2023, I graduated from the Master’s program in Finance. I am grateful to my professors who helped me not only to better understand finance, but also to decide on my career path. Vyshka Online creates an ideal learning environment thanks to experts in economics and finance, enthusiastic classmates, and a responsive administration. These two years of study have been an unforgettable experience and I have met some amazing people — energetic, experienced and always ready to help!
Svetlana Makeeva
Graduate of the program
Student of the program
Anton Ivanenko
My name is Anton, I graduated with a Bachelor’s degree from HSE program Economics and Statistics after which I entered the Master’s program Finance.
At the moment I work in IB in M&A, the main focus of my activity is to support M&A deals on Sell-Side and Buy-Side sides, as well as implementation of projects on raising private equity, bank and mezzanine financing.
The online format has exceeded all expectations, all elements of control are fully built in the format of tests and project assignments, which allows you to combine work and study and does not cause any discomfort.
My expectations were met, against the background of the experience of studying at the bachelor’s degree I noticed that there are practically no side subjects on the program, all the material is close to reality and deals with practical knowledge.
Feelings are extremely positive, I think that this program is the best in the online segment of financial education.
At the moment I work in IB in M&A, the main focus of my activity is to support M&A deals on Sell-Side and Buy-Side sides, as well as implementation of projects on raising private equity, bank and mezzanine financing.
The online format has exceeded all expectations, all elements of control are fully built in the format of tests and project assignments, which allows you to combine work and study and does not cause any discomfort.
My expectations were met, against the background of the experience of studying at the bachelor’s degree I noticed that there are practically no side subjects on the program, all the material is close to reality and deals with practical knowledge.
Feelings are extremely positive, I think that this program is the best in the online segment of financial education.
Graduate of the program
Artem Karapetyan
My expectations from the program were fully met, I gained a lot of new knowledge, as well as consolidated the existing knowledge in the field of investment analysis and corporate finance.
I would like to mention the instructors separately: all of them are practicing professionals and CFA chartholders, each of whom actively shared their experience. I would especially like to emphasize Sergey Zakharov’s course on Investment Banking and Anatoly Potashov’s courses, which helped me a lot in the future and were as useful as possible for the area of finance in which I am developing.
The online format of training was also very helpful, thanks to it I was able to combine my studies with work without losing the effectiveness of the program. I recommend all applicants to enroll in this master’s program!
I would like to mention the instructors separately: all of them are practicing professionals and CFA chartholders, each of whom actively shared their experience. I would especially like to emphasize Sergey Zakharov’s course on Investment Banking and Anatoly Potashov’s courses, which helped me a lot in the future and were as useful as possible for the area of finance in which I am developing.
The online format of training was also very helpful, thanks to it I was able to combine my studies with work without losing the effectiveness of the program. I recommend all applicants to enroll in this master’s program!
Student of the program
Alexander Belanov
I am the president of Blagochein LLC and an IT entrepreneur. The online format of the classes allows me to learn without taking time off from my business and business trips, I can connect to the classes from my office, airport lounge, hotel.
It is important for me that the lectures are held in real time. And if for some reason I could not attend the webinar, I can watch it in the recording, ask questions about the material or practical tasks in chat with the teacher and get an answer.
I would like to note the teaching staff and the selection of supervisors for writing term papers and master’s theses — they are top experts in their field.
The Master of Finance program opens horizons of professional development for me in the subject that I am interested in and that inspires me. The knowledge gained makes me a more valuable expert in the market, and I understand how to grow further.
It is important for me that the lectures are held in real time. And if for some reason I could not attend the webinar, I can watch it in the recording, ask questions about the material or practical tasks in chat with the teacher and get an answer.
I would like to note the teaching staff and the selection of supervisors for writing term papers and master’s theses — they are top experts in their field.
The Master of Finance program opens horizons of professional development for me in the subject that I am interested in and that inspires me. The knowledge gained makes me a more valuable expert in the market, and I understand how to grow further.
Student of the program
Anna Meshkova
I work in the finance sector at one of Russia’s leading metal-producing companies. Enrolling in the Master of Finance program at HSE, taught entirely in English, has been a transformative step in my professional journey, and I couldn’t be happier with the experience. I had been searching for a program like this for quite some time, and it has exceeded all my expectations.
The online format is outstanding, offering incredible flexibility for busy professionals like me. I can attend lectures at my own pace, whenever my schedule allows, which makes studying not only manageable but truly enjoyable. This convenience has enabled me to stay fully engaged while balancing my demanding career and personal commitments seamlessly.
The program content is insightful, practical, and directly applicable to real-world challenges in finance. Being taught in English adds an international dimension, making it even more relevant and enriching. I’m genuinely excited to implement the strategies and knowledge I am still gaining into my work. The Master of Finance at HSE is an exceptional program that I highly recommend to anyone seeking to advance their career and deepen their expertise in finance!
The online format is outstanding, offering incredible flexibility for busy professionals like me. I can attend lectures at my own pace, whenever my schedule allows, which makes studying not only manageable but truly enjoyable. This convenience has enabled me to stay fully engaged while balancing my demanding career and personal commitments seamlessly.
The program content is insightful, practical, and directly applicable to real-world challenges in finance. Being taught in English adds an international dimension, making it even more relevant and enriching. I’m genuinely excited to implement the strategies and knowledge I am still gaining into my work. The Master of Finance at HSE is an exceptional program that I highly recommend to anyone seeking to advance their career and deepen their expertise in finance!
KPMG, Intern, Deal Advisory Department
Mariam Abildina
During the program I was convinced of its applied orientation and relevance for professional development in corporate finance. Recently, I received an invitation to an internship in KPMG’s Deal Advisory Department. Preparation for the selection was largely based on the knowledge and skills acquired during the training process.
The structure of the courses, the well-developed materials and the opportunity to explore a topic of interest in depth through coursework provided a good foundation for the tests and interviews.
It helped me to better understand in what direction I want to develop in the field of finance.
I would also like to mention the high level of teaching and clear organization on the part of the administration — all this creates a productive environment for development during the course.
The structure of the courses, the well-developed materials and the opportunity to explore a topic of interest in depth through coursework provided a good foundation for the tests and interviews.
It helped me to better understand in what direction I want to develop in the field of finance.
I would also like to mention the high level of teaching and clear organization on the part of the administration — all this creates a productive environment for development during the course.
Benefits of Online Master’s Degrees
Study and work simultaneously
Study from anywhere in the world
Practice-oriented approach
Military draft deferral
Flexible study format
Access to HSE’s online resources
Individual learning trajectory
Tax deduction
Sign Up for a Consultation
We’ll contact you to discuss the program details and answer any questions you have — completely free of charge.
To learn more about our discounts, book a consultation
Total duration: 4 semesters
220 000 ₽
Tuition per semester
FAQ
- Financial Reporting and Analysis — you’ll learn about the current IFRS and GAAP financial reporting systems. The course also covers key financial documents, analysis of current assets, and long-term assets.
- Quantitative Methods in Finance — topics include time value of money, probability theory, correlation analysis, and regression.
- Financial Markets: FX, Debt and Equity Market — dive into the workings of the modern currency market, cryptocurrency usage, hedging and arbitrage techniques, and equity market infrastructure.
- Corporate Finance — covers corporate governance, dividend policy, and investment decision-making.
- Portfolio Management — learn how to manage investment portfolios for individuals and legal entities. The course also includes analysis of pension plans and bonus packages.
- Alternative Investments — covers real estate investment, venture capital, private banking, hedge funds, illiquid securities, and commodity valuation.
- Derivatives and Financial Engineering — covers derivatives including forwards, futures, options, swaps, credit derivatives, and structured products, as well as the market infrastructure and pricing.
- CFA Ethics & Professional Standards — introduces ethical and professional standards required for the modern financial market and CFA certification.
It depends on your entrance portfolio. We welcome applicants interested in finance, economics, mathematics, and modeling. Studying will be easier for those who already have a foundation in math, economics, and finance.
To strengthen your skills, we recommend our free online prep courses.
To strengthen your skills, we recommend our free online prep courses.
The minimum requirement is B1.
Don’t worry about grammar mistakes — they’re not a problem. If you’re uncomfortable asking questions aloud in English at first, feel free to type them in the chat instead.
Don’t worry about grammar mistakes — they’re not a problem. If you’re uncomfortable asking questions aloud in English at first, feel free to type them in the chat instead.
Seminars, workshops, and project work take place on weekday evenings and Saturdays. Lectures are provided as recordings, so you can integrate studies into your schedule and continue your career.
We recommend allocating around 20 hours per week for classes and independent work.
We recommend allocating around 20 hours per week for classes and independent work.
You will receive a state-recognized Master’s degree in Finance and Credit (code 38.04.08) from HSE University.
The diploma does not indicate that the program was completed online.
The diploma does not indicate that the program was completed online.
Yes, tuition can be paid in 4 installments.
The first payment is due when signing the study contract; the rest are paid before the start of each semester.
The first payment is due when signing the study contract; the rest are paid before the start of each semester.
No, you don’t need to visit HSE in person.
All documents are submitted and the master’s thesis is defended online.
All documents are submitted and the master’s thesis is defended online.
The program lasts for 2 years, and it’s fixed.
You will defend your thesis at the end of the second year.
You will defend your thesis at the end of the second year.
In addition to pre-recorded lectures, you will have live seminars, project work, and masterclasses.
You’ll be able to interact with instructors during sessions and ask questions via the platform and messengers.
You’ll be able to interact with instructors during sessions and ask questions via the platform and messengers.
A government-supported educational loan helps students who are enrolling in paid programs. You don’t need to pay the full semester cost when entering a paid program at HSE Online — the bank will do it for you.
During your entire study period and for 9 months after graduation, you’ll pay only 3% annual interest — the remaining amount can be paid over 15 years. Book a free consultation where we’ll guide you through the loan application and answer all your questions.
During your entire study period and for 9 months after graduation, you’ll pay only 3% annual interest — the remaining amount can be paid over 15 years. Book a free consultation where we’ll guide you through the loan application and answer all your questions.
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