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Education Master's and PhD degree programmes International Financial Management
Header image International Financial Management

International Financial Management

Study international financial management in Groningen and get uniquely equipped to have a career in finance and be a part of the management team in multinational companies and financial institutions.

Do you want to learn the international aspects of corporate finance, management and financial accounting, and to become an expert in solving complex financial challenges in the global business world? Can you see yourself making decisions on using the latest finance and risk management tools and techniques for managing international financial activities? With a Master’s degree in International Financial Management, you can join the global workforce that will fulfill positions to contribute to financial decision-making in public, private, and government organizations in an ethical and sustainable manner.

The MSc International Financial Management (MSc IFM) teaches advanced academic knowledge, understanding and skills required to define, analyze and evaluate real and complex international financial management problems on both the level of companies and institutions, as well as on a societal level. You gain knowledge from a wide range of study fields such as finance, accounting, control, and management under ethics, sustainable and responsible principles. This programme will teach you to think strategically, explore new ideas, apply research methods and address complex financial problems and opportunities in multinational companies and international financial institutions and organizations. Additionally, our master programme brings together students with diverse backgrounds. We value each student's unique perspective and encourage open discussions in our classes.

If you are ambitious and want to challenge yourself, you can earn two Master's degrees by studying International Financial Management in Groningen in your first year and Banking and Finance in Milan, Italy, in your second year. Read more about this Double Degree option with the Università Cattolica del Sacro Cuore in Milan.

Facts & Figures
Degree
MSc in International Financial Management
Course type
Master
Duration
12 months (60 ECTS)
Croho code
60683
Language of instruction
English
Start
February, September
Faculty
Economics and Business
AACSB accredited
Why study this programme in Groningen?
  • Teaching philosophy of the MSc IFM programme is unique as it relies on thinking strategically and exploring how new ideas can be initiated and managed. Our professors teach research methods to address financial problems multinational companies and financial institutions are faced with.
  • We prioritize internationalization, diversity, and inclusion in all courses. For example, political risk factors faced by multinational companies from engaging in other countries are examined from several points of views, including some intercultural aspects.
  • We prepare you to become professionals who can understand and apply the latest finance and risk management tools, management control techniques, and international accounting principles in managing international financial activities or providing consultancy services to different types of organizations.
  • You will work on real-life business cases and learn to use software such as Tableau, which is a tool used in many businesses today, next to Stata and Excel.
  • Broaden your horizon by selecting two electives from other MSc programmes our faculty offers, or from Focus Areas, such as Energy Transition and Climate Change and Future Prosperity and Sustainability.
  • The MSc IFM programme focuses on both finance and accounting from an international perspective, balancing advanced theory with hands-on practice. You learn from highly qualified, experienced lecturers and guest lecturers, diverse teaching methods, and real-life case studies.
  • The programme has been internationally accredited by the AACSB and EQUIS, ensuring a high-quality education, which only 1% of universities achieve worldwide.
Programme

During the one-year programme, you gain advanced knowledge in several specific fields in international financial management, such as international risk management, including exchange rate and political risks, international financing opportunities, as well as corporate governance and social responsibility. Courses like international management accounting and control, and international financial reporting examine accounting and control aspects of international business and the international econom

To specialize in an area of your interest, we give you the opportunity to choose from a wide variety of elective courses in topics such as trade, environment and growth, inclusive finance, sustainability in business and economics, energy transition, and many more (check the Ocasys course catalogue for the full list).

You will learn to collect and analyze data, plan and design a research project, and undertake academic writing. You will also build computer models, present in public, and work in diverse teams. The academic and professional skills you develop are highly sought after and will give you access to exciting job opportunities. You will wrap up the programme by writing and presenting a research paper.

Do you want to know the difference between MSc International Financial Management and MSc Finance? Find out more about this: https://www.rug.nl/feb/education/study-programmes/international-financial-finance.

Semesters
CoursesCourse Catalog >1a1b2a2b
Empirical Methods (5 EC)
Financial Management for Multinationals (5 EC)
International Management Accounting & Control (5 EC)
Electives MSc IFM (10 EC)

A few examples are: Business Ethics; Globalization Debates; Sustainability in Business and Economics; Sustainable Finance; Energy Transition & Innovation; International Finance and Development; Business Research and Consulting; Value-based Management. The full list of electives can be found on Ocasys.

International Financial Institutions and Governance (5 EC)
International Financial Reporting (5 EC)
International Risk Analysis and Research (5 EC)
Master's Thesis (20 EC)
Programme options
Double Degree Master International Financial Management (Milan) (specialization)

Are you interested in a career in financial markets, international finance and risk management?

The Faculty of Economics and Business (University of Groningen) and Università Cattolica del Sacro Cuore (UCSC Milan) have joined forces to set up a high-quality, two-year double degree master in the fields of banking, risk and financial management, and international finance.

More information about this option

Double Degree Master International Business and Finance (Shanghai) (specialization)

Are you interested in an international career in or involving China?

Study in Shanghai after your FEB Master's programme in Groningen and gain first-hand knowledge and experience of China and the economy, finance and culture.

More information about this option

Healthy Society Focus Area (specialization)

Focus on tackling problems that impact healthcare providers and their societal partners in their day-to-day work. Issues such as scarce human resources combined with a higher, more complex demand for care, and more demanding citizens require solutions, which you will think about and design.

More information about this option

Finance and Development Focus Area (specialization)

Focus on the blended realms of Finance and Development. Explore the dynamic relationship between empowering individuals as micro-entrepreneurs and fostering sustainable growth and engage in the ongoing discussion about the role of financial development in enhancing growth and reducing poverty. Your skills and knowledge will prepare you to contribute to the debates on these topics and to work at national and/or multilateral development banks.

More information about this option

Future Prosperity and Sustainability Focus Area (specialization)

Focus on the sustainable developments in our current society by the increasing influence of the Sustainable Development Goals (SDGs) of the United Nations. The upcoming impact of the SDGs force companies to redefine their purpose and seek a path for meaningful contribution. But, what are companies responsible for, and who bears the burden of the consequences? Your skills and knowledge will prepare you to actively contribute to the strategic developments in this dynamic field.

More information about this option

Energy Transition and Climate Change Focus Area (specialization)

Focus on the serious changes within the energy sector by dealing with issues such as how firms adapt to renewable energy, how the higher taxes are managed during this transition and how to deal with the weather dependent production of energy systems. Gain the knowledge and skills to shape a sustainable future in this evolving energy sector.

More information about this option

Master Internship (specialization)

Opportunity to gain work experience by doing an internship in the second semester of your study.

You will be rewarded 15 ECTS on top of your programme. Your thesis will be postponed to the third semester.

More information about this option

Study abroad

  • Study abroad is optional

The second year of the two-year DDM programme, you will study at USCS in Milan.

Entry requirements

Transfer options

Transferring from...

Study programmeOrganizationTransition
All Universities of applied sciences

Via a pre-master with a maximum of 45 EC

More information:

The Faculty of Economics and Business (FEB) has introduced the 30 EC and 45 EC Pre-Master's programmes. Depending on the HBO degree you will obtain, you will be able to follow the 30 EC or 45 EC variant. Read more: https://www.rug.nl/feb/premaster

Study programmeOrganizationTransition
Econometrics and Operations ResearchUniversity of GroningenNo additional requirements
Business AdministrationUniversity of GroningenNo additional requirements
Economics and Business EconomicsUniversity of GroningenNo additional requirements
International BusinessUniversity of GroningenNo additional requirements
Industrial Engineering and ManagementUniversity of Groningen

Additional requirements

More information:

For students with completed courses: Financial Accounting and International Financial Management.

PsychologyUniversity of Groningen

Via a pre-master with a maximum of 45 EC

More information:

You need to first complete the 45 EC (or less) Pre-Master's programme. For information about the Pre-MSc application and entry requirements, please check https://www.rug.nl/feb/premaster.

SociologyUniversity of Groningen

Via a pre-master with a maximum of 45 EC

More information:

You need to first complete the 45 EC (or less) Pre-Master's programme. For information about the Pre-MSc application and entry requirements, please check https://www.rug.nl/feb/premaster.

Study programmeOrganizationTransition
Econometrics and Operations ResearchErasmus University RotterdamNo additional requirements
Economics and Business EconomicsErasmus University RotterdamNo additional requirements
Fiscale EconomieErasmus University RotterdamNo additional requirements
International Business AdministrationErasmus University RotterdamNo additional requirements
Business AdministrationErasmus University RotterdamNo additional requirements
Study programmeOrganizationTransition
Public Administration ScienceLeiden University

No additional requirements

More information:

For profile Economics, Public Administration and Management.

Computer ScienceLeiden University

No additional requirements

More information:

For profile Informatica & Economie.

Study programmeOrganizationTransition
Business AnalyticsMaastricht UniversityNo additional requirements
Business EngineeringMaastricht UniversityNo additional requirements
Econometrics and Operations ResearchMaastricht UniversityNo additional requirements
Economics and Business EconomicsMaastricht UniversityNo additional requirements
Fiscale EconomieMaastricht UniversityNo additional requirements
Global StudiesMaastricht UniversityNo additional requirements
International BusinessMaastricht UniversityNo additional requirements
Study programmeOrganizationTransition
AccountancyNyenrode New Business SchoolNo additional requirements
Business AdministrationNyenrode New Business SchoolNo additional requirements
Study programmeOrganizationTransition
Business AdministrationRadboud University NijmegenNo additional requirements
Economics and Business EconomicsRadboud University NijmegenNo additional requirements
Study programmeOrganizationTransition
International Business AdministrationTilburg UniversityNo additional requirements
EconomicsTilburg UniversityNo additional requirements
Entrepreneurship and Business InnovationTilburg UniversityNo additional requirements
Econometrics and Operations ResearchTilburg UniversityNo additional requirements
Fiscale EconomieTilburg UniversityNo additional requirements
Study programmeOrganizationTransition
Actuarial ScienceUniversity of AmsterdamNo additional requirements
Business AdministrationUniversity of AmsterdamNo additional requirements
Business AnalyticsUniversity of AmsterdamNo additional requirements
Econometrics and Data ScienceUniversity of AmsterdamNo additional requirements
Economics and Business EconomicsUniversity of AmsterdamNo additional requirements
Fiscale EconomieUniversity of Amsterdam

Via a pre-master with a maximum of 45 EC

More information:

You need to first complete the 45 EC (or less) Pre-Master's programme. For information about the Pre-MSc application and entry requirements, please check https://www.rug.nl/feb/premaster.

Study programmeOrganizationTransition
International Business AdministrationUniversity of TwenteNo additional requirements
Study programmeOrganizationTransition
Economics and Business EconomicsUtrecht UniversityNo additional requirements
Study programmeOrganizationTransition
Management and Consumer StudiesWageningen University

Via a pre-master with a maximum of 45 EC

More information:

You need to first complete the 45 EC (or less) Pre-Master's programme. For information about the Pre-MSc application and entry requirements, please check https://www.rug.nl/feb/premaster.

Economics and GovernanceWageningen University

Via a pre-master with a maximum of 45 EC

More information:

You need to first complete the 45 EC (or less) Pre-Master's programme. For information about the Pre-MSc application and entry requirements, please check https://www.rug.nl/feb/premaster.

Study programmeOrganizationTransition
Business AnalyticsVU University Amsterdam

Via a pre-master with a maximum of 45 EC

More information:

You need to first complete the 45 EC (or less) Pre-Master's programme. For information about the Pre-MSc application and entry requirements, please check https://www.rug.nl/feb/premaster.

Econometrics and Operations ResearchVU University AmsterdamNo additional requirements
Economics and Business EconomicsVU University AmsterdamNo additional requirements
International Business AdministrationVU University AmsterdamNo additional requirements
Business AdministrationVU University AmsterdamNo additional requirements

Admission requirements

Specific requirementsMore information
previous education

To be eligible for admission to this Master, you need to hold an academic Bachelor's or Master's degree from a research university in one of the following - or closely related - fields: Business Administration, Economics and Business Economics, International Business.

To assess whether your educational/academic background meets the specific programme requirements, we will consider the level and curriculum of your previous studies. For more information, please visit: https://www.rug.nl/feb/apply-msc.

other admission requirements

The information about entry requirements is an indication of your admissibility. Every application will be reviewed individually by the Admissions board so the admission decision may differ from the indication in this table.

Registration procedure

Students with a Dutch diploma can apply directly to Studielink. More information on the steps to apply .

Application deadlines

Type of studentDeadlineStart course
Dutch students01 May 202401 September 2024
15 October 202401 February 2025
01 May 202501 September 2025
15 October 202501 February 2026
EU/EEA students01 May 202401 September 2024
15 October 202401 February 2025
01 May 202501 September 2025
15 October 202501 February 2026
non-EU/EEA students01 May 202401 September 2024
15 October 202401 February 2025
01 May 202501 September 2025
15 October 202501 February 2026

Admission requirements

Specific requirementsMore information
previous education

To be eligible for admission to this Master, you need to hold an academic Bachelor's or Master's degree from a research university in one of the following - or closely related - fields: Business Economics, Business Administration, Economics and Business Economics, International Business, Technology Management.

To assess whether your educational/academic background meets the specific programme requirements, we will consider the level and curriculum of your previous studies. For more information, please visit: https://www.rug.nl/feb/apply-msc. If you have any questions concerning admission to this programme, please contact our Admissions Office: https://www.rug.nl/admissions.

certified competences

A GMAT/GRE test is required from all candidates who obtained their bachelor's degree from a university in a non-EU/EEA country. For specific scores and exemptions, please see https://www.rug.nl/feb/gmat-gre.

  • Both GMAT and GRE are now being offered by mba.com and ETS as an online option to take from home worldwide. Please check their websites for more information.
language test

IELTS Academic overall score 6.5 (Speaking 6, Writing 6.5); TOEFL internet-based overall score 90 (Speaking 20, Writing 24); Cambridge C1 Advanced or C2 Proficiency (overall score 176, Speaking 169, Writing 176).

  • ETS is offering the TOEFL tests as an online option to take from home worldwide. Please check their website for more information.
other admission requirements

Not meeting the pre-education requirements for direct entry? Please read more about our pre-Master programmes .

Registration procedure

Students have to apply via Studielink and the Progress Portal (replacing the previous system, Online Application System OAS) of the University of Groningen. After you apply for the programme of your choice, the Admissions Office will evaluate your educational background and assess your eligibility. Your application will be assessed on an individual basis. More information on how to apply.

Application deadlines

Type of studentDeadlineStart course
Dutch students01 May 202401 September 2024
15 October 202401 February 2025
01 May 202501 September 2025
15 October 202501 February 2026
EU/EEA students01 May 202401 September 2024
15 October 202401 February 2025
01 May 202501 September 2025
15 October 202501 February 2026
non-EU/EEA students01 May 202401 September 2024
15 October 202401 February 2025
01 May 202501 September 2025
15 October 202501 February 2026
Tuition fees
NationalityYearFeeProgramme form
EU/EEA2023-2024€ 2314full-time
non-EU/EEA2023-2024€ 17800full-time
EU/EEA2024-2025€ 2530full-time
non-EU/EEA2024-2025€ 20800full-time

Practical information for:

After your studies

Job prospects

The knowledge of academic theory and practical tools that you will have acquired are highly valued in the labour market and your specialized expertise will contribute enormously to your employability. You will be able to take up positions in which you contribute as a specialist in international financial management, decision-making in multinational companies and financial institutions. You will also be in demand among consultancy firms, and international financial institutions (e.g., Regional Development Banks), as well as the European Central Bank (ECB), and other governmental institutions.

Job examples

  • Financial analyst
  • Governance and compliance officer
  • Audit trainee
  • Financial manager
  • Corporate finance consultant
  • Internal or external financial consultant
  • Financial or accounting controller
Research

Linking education to research and career preparation

Our research-driven education is strongly rooted in business practice and society. At the heart of our teaching approach is (interdisciplinary) research, and in collaboration with external partners, students and professors conduct projects on societally relevant topics such as healthy society and the economics of healthcare systems, digitalization and how AI is shaping business and societies, leadership and governance, future prosperity and sustainability, climate change and how to tackle the shift to renewable energy. From day one of your degree, we are about making a real impact.

Research institutes related to the MSc programme:

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Contact

The programme blends finance with management, fostering analytical thinking (Susan Dijkema)

The MSc International Financial Management caught my attention because it covers not only corporate finance but also includes risk management, financial accounting, and analytical and quantitative skills. It blends finance with management, instilling analytical thinking. It's more than just numbers; it's about analyzing and planning the next steps. The programme also provides a global perspective on the financial market. Upon completing the programme, I aspire to work in the banking industry, and IFM prepares me thoroughly for this field. All courses offer essential aspects for my future career. Beyond practical and technical knowledge, MSc IFM enhances my critical, creative, and problem-solving thinking, focusing on solutions.

Read more

The programme equips students with analytical skills for addressing global challenges in multinational corporations (Pablo Crespo Vallina)

The MSc International Financial Management captivates me with its diverse curriculum, problem-solving focus, and international market orientation. It equips students with analytical skills for addressing global challenges in multinational corporations, a valuable asset for international firms. My participation in the Sustainable Society Focus Area, delving into contemporary developments and corporate-society dynamics, aligns with the growing emphasis on ethics and sustainability, enhancing my future career prospects. I firmly believe that my acquired knowledge in transaction evaluation, financial analysis, stakeholder considerations, and ESG/CSR practices is exceptionally valuable in today's business landscape.

Read more

The programme offers guest lectures, real-life cases, and in-class projects, enhancing practical career understanding (Britta Bacsa)

I chose to study this Master’s programme, because one of the unique features is the opportunity to do a Double Degree programme, allowing you to study in both Groningen and Milan. What I value most about the MSc International Financial Management are its diverse opportunities. The programme's flexibility allows internships, studying in Milan through the DDM programme, and a valuable job market preparation, including a Career Week, where you engage with potential employers. Furthermore, guest lectures, real-life cases, and in-class projects enhance practical career understanding. Additionally, the mandatory courses greatly emphasize sustainability and digital business, fostering awareness and practical application. I believe the knowledge gained in this programme will be a solid foundation for effectively adapting to real-world work situations.

Last but not least, Groningen is a beautiful historic city with a large student community and is also relatively affordable compared to other Dutch cities.

Read more

What is the difference between MSc International Financial Management and MSc Finance?

Find out more about the difference between the MSc International Financial Management and MSc Finance.

Read more

Study associations

Financial Study Association Groningen

Financial Study Association Groningen, FSG, is the study association for the financially interested student at the Faculty of Economics and Business of the University of Groningen.
FSG is, with over 1800 members, one of the most active and professional study associations of the Netherlands. The goal of FSG is to close the gap between theory and practice that exists in the areas of:* Accountancy & Controlling (A&C)* Finance* International Financial Management (IFM)* Management Accounting & Control (MAC)
https://fsgroningen.nl/home
Read more
Study support

Studying means working independently and planning your studies yourself. But successful studying depends on many different factors, so it is understandable that you may need to consult an impartial expert to discuss your study progress and personal circumstances that influence your studies. The faculty's study advisors are available to help you. Obviously, everything discussed with the study advisor remains confidential.