Search button

Mestrado emFinance

ISEG offers you a Masters in Finance that’s just right for you. It’s innovative, competitive, and up to date.

You’ll find it reassuring to know that our Masters in Finance graduates can easily find their way in the competitive financial industry or any other industry or organisation around the world. Recent distinctions can also measure their success, as consecutive winners of the CFA Research Challenge Portugal from 2017 to 2020 and Portugal’s selected participants in the EMEA Finals of the CFA Research Challenge in Prague, Dublin, Zurich and the Dead Sea region, in Jordan. We did it again in 2022 and in 2023, champions of CFA research challenge.

Global Rankings and International Recognitions
The Financial Times Finance Master’s Ranking places ISEG’s master’s degree among the 23 best in the world and in the European top 21. ISEG climbs 11 positions in the world ranking, the biggest rise among all the schools ranked, and was the only Portuguese school to rise in the ranking.
ISEG’s Master in Finance is a CFA® University Affiliation Programme. Our programme covers more than 70% of the CFA curriculum. 9 annual scholarships are awarded for the CFA® exams.
ISEG’s Master in Finance is a GARP® academic partner. Our programme covers more than 70% of the body of knowledge and 100% of the ethics/professional conduct required for the FRM® exams. 9 annual scholarships are awarded for FRM® exams.
ISEG’s Master in Finance is a CAIA Association® academic partner. Up to 8 annual scholarships are awarded for CAIA® Charter Program exams.
ISEG’s Master in Finance recognizes essential topics from the Certificate in ESG Investing from CFA® Institute. This professional certificate offers both practical application and technical knowledge in the field of ESG investing.
Merit Awards
Best Student award
Best Student of the UC “Derivatives” award
Acreditação
Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para

Top 9 reasons to do the Master’s in Finance

01

ISEG’s Masters in Finance is placed again at no. 23 in the Financial Times global rankings.

02

ISEG’s MFinance is a CFA® University Affiliation Program. The program covers more than 70% of the CFA curriculum.

03

Workshops in IT Skills: “Financial Modelling in Excel” (SEM 1); “Python for Finance” (SEM 2); and “Databases and Stata in Finance” (SEM 3).

04

International placement in finance-related jobs.

05

International exchange in highly reputed international universities – Bocconi, Italy; EDHEC, France; Goethe, Germany; FGV, Brazil, to name a few.

06

Five-day field trip* to Frankfurt, the most important financial centre in Europe – visiting ECB (European Central Bank), EIOPA (European Insurance and Occupational Pensions Authority), Deutsche Boerse (German Stock Exchange), Bundesbank (Central Bank of Germany), Goethe University, several companies (examples: BASF, BMW, Deutsche Bank, SAP, Volkswagen). *Note: No additional fees are charged for travel and accommodation expenses. The trip can only materialise next year if the pandemic situation allows.

07

Solid education in the 3 pillars of finance: Corporate Finance, Derivatives, Investments.

08

Nine annual scholarships for the CFA® exams.

09

Highly qualified faculty with experience in top international schools, e.g., London Business School, Manchester Business School, Carnegie-Mellon University, The London School of Economics, Stockholm School of Economics, UCLA or Imperial College London.

Field Trip to Frankfurt

The global approach of the Masters in Finance is also materialised in the annual field trip to Frankfurt, which is part of our students’ personal development program.

Students and faculty travel together to Frankfurt and visit important organisations, such as the ECB (European Central Bank), EIOPA (European Insurance and Occupational Pensions Authority), Goethe University, Deutsche Bundesbank, and the Frankfurt Stock Exchange.

Over the last few years, we have attended talks and interacted with high-ranking representatives of large companies, among which are BASF, Deutsche Lufthansa, SAP, EY, Volkswagen, or Helaba Bank.

This is certainly an unforgettable experience you can’t miss!
— Fingers crossed for the pandemic situation to evolve favourably.

shape

CFA® Champions

ISEG's MFinance is a CFA® University Affiliation Program. The program covers more than 70% of the CFA curriculum. ISEG's Team is the Winner SEG's Team is the Winner of the National CFA Research Challenge (in Portugal) for the past years: 2022, 2020, 2019, 2018 and 2017 and EMEA Vice Champions 2020 – 2018

Want to help us

Win some more next year?

10 things you’ll gain by joining ISEG

An outstanding faculty and benchmark research centres are responsible for placing ISEG at the forefront of Economics, Management and Finance.
Top 10 Reasons

The Next Step in Your Career

Your partner in achieving your career goals. Our consultants guarantee you all the necessary support, helping you prepare for your job search or find an internship.
Career Office

Broaden your horizons.

Our mobility programs allow students to explore any part of the world while studying abroad for a semester.
International Mobility Office

Programme Details

Holders of the Masters in Finance degree will be able to have professional roles in various areas:

(i) Financial Intermediation (banks, insurance companies, dealers, portfolio or fund management, as well as at the supervision or regulatory authority;
(ii) Financial analysis and consultancy;
(iii) CFO positions in the industry;
(iv) Administrator/Director positions;
(v) Public (local or national) financial administration;
(vi) Specialized Finance media.


Syllabus

Year 1 – SEM 1Credits
Corporate Investment Appraisal6
Financial Analysis and Reporting6
Investments & Portfolio Management6
Derivatives6
Data Analysis in Finance6
Workshop 10
Year 1 – SEM 2Credits
Fundamentals of Financial Economics6
Corporate Financing and Planning6
Fixed Income Products and Markets6
Risk Management6
Elective I
  Real Options
 Real Estate Finance
  Corporate Governance
  Monetary & Financial History
6
Workshop 20
Year 2 – SEM 3Credits
Industry Elective
  Financial Engineering
  Applied Portfolio Management
  Equity Research
6
Financial Data Science6
Ethics and Research Methods In Finance12
Elective II
  Sustainable Finance
  Mergers, Acquisitions and Restructurings
  International Financial Markets
  Banking and Insurance
  International Taxation
6
Workshop 30
Year 2 – SEM 4Credits
Masters Final Work – MFW
  Dissertation
  Project
  Internship
30

See the description of each Curricular Units here.

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para

Field Trip to Frankfurt

In the first year of the Masters in Finance, students and faculty travel to Frankfurt – the most important financial centre in Europe – for a five-day field trip. This is a very important part of this Masters programme and a great opportunity to students interact with each other and have a different learning experience, outside the classrooms.

In 2023, the Masters in Finance group with more than 80 students visited Frankfurt from 3rd to the 7th of May. They visit the European Central BankEIOPA (European Insurance and Occupational Pensions Authority), Deutsche Börse (Frankfurt Stock Exchange), and Goethe University, for a series of lectures to complement the theoretical knowledge taught in lectures, and they explored the city and the culture. The visit to important organisations was essential for students to understand more about the Eurosystem and European financial and monetary policys, and where they asked important questions to the representatives of each organisation.

Students also had the opportunity to visit the Geldmuseum (Money Museum), which is located in the Deutsche BundesBank headquarters, to learn more about the origin of money, money language, global money, and monetary policy, which enabled them to immerse themselves in the world of money in an interactive way.

This amazing experience encourage our students to open their horizons and adquire new knowledge while simultaneously networking abroad.

What our Masters in Finance students have to say….

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para
shape

Henrique Tiago

It was a great opportunity to be at European Central Bank, EIOPA, Deutsche Bundesbank and Frankfurt Stock Exchange. We discussed relevant topics about the future, regarding Monetary Policy, Digital Currency and Regulation.

shape

Henrique Crespo Correia

I had the great pleasure to travel with the Masters in Finance to Frankfurt. Thank you all for this incredible opportunity where I was able to broaden my vision on the European financial system and enlight my passion for the stock market.

shape

Marcela Murcia

I had the opportunity to travel with my colleagues and coordinators of the Master in Finance and it was an amazing experience, we were able to visit the European Central Bank (ECB), European Insurance and Occupational Pensions Authority (EIOPA), Central Bank of Germany and Frankfurt Stock Exchange. These institutions shared with us many interesting topics that allow us to integrate the academic knowledge of financial markets with practical experience, as well as talking about trends in finance like sustainability and digitalization. I believe this is a unique experience and it adds so much value to the contents of the master. I would add that visiting one of the most important European Financial centers reinforces the vision of the University.

Admissions & Fees

Applications for all masters at ISEG are online.


Admissions Requirements

Candidates for the Masters in Finance:

  • Undergraduates in national or foreign institutions in Management, Economics, Finance, Accounting, Mathematics Applied to Economics and Management, or other relevant to the study cycle. Applicants with other degrees are considered on a case-by-case basis.
  • IIn accordance with Article 17 d) of Decree-Law No. 74/2006 of the 24th of March, altered and republished as Decree-Law No. 65/2018 of the 16th August, other applications considered to be appropriate by the selection panel will be evaluated on the basis of a curricular analysis.
  • Those students who have not yet completed the 1st Study Cycle (Bachelors) are eligible to apply conditionally, provided that they satisfy the conditions for obtaining the degree by the end of September (of the same academic year as their application).

Ranking and Selection Criteria

1. The ranking is based on a Score awarded to each candidate and calculated according to the process described below. This only applies to students who have satisfied the prerequisites. Whenever necessary, the Masters Coordinating Committee may decide to interview candidates. Most students are excused from the interview and their score is the weighted average of points according to Table A).

TABLE A) Students excused from interviewWeightPoints
(1) GRADE: Highest academic degree (bachelors, masters, etc.) average grade obtained. OR average grade in all course units completed up to now (for students without a degree yet).  OR average grade in the course units made as extra curricula in the M. Finance of ISEG.    40%0 – 20
(2) SCHOOL: Track record of the university and school(s) attributing the degrees(s) in (1), according to international and/or national rankings available.  30%0 – 20
(3) AREA: Relevance of previous degrees’ study fields, quantitative knowledge and professional experience.20%0 – 20
(4) ENGLISH: certificates and/or language proficiency.10%0 – 20

2. In case the Masters Coordinating Committee finds an interview necessary, the score results from the weighted average of points according to the Table B).

TABLE B) Students with interviewWeightPoints
(1) GRADE: Highest academic degree (bachelors, masters, etc.) average grade obtained. OR average grade in all course units completed up to now (for students without a degree yet).  OR average grade in the course units made as extra curricula in the M. Finance of ISEG.    30%0 – 20
(2) SCHOOL: Track Record of the university and school(s) attributing the degrees(s) in (1), according to international and/or national rankings available.  22.5%0 – 20
(3) AREA: Relevance of previous degrees’ study fields, quantitative knowledge and professional experience.15%0 – 20
(4) ENGLISH: certificates and/or language proficiency.7.5%0 – 20
(5) INTERVIEW: General assessment from the interview.25%0 – 20

Application Documents

  • Certificate of the undergraduate degree
  • Academic Transcript
  • Curriculum Vitae
  • Motivation Letter
  • English Diploma (optional)
  • Reference Letter (optional)

All candidates should have an effective command of the English language, written and spoken.


Tuition Fee

These are provisional tuition fees for 2024/25, subject to confirmation by the Universidade de Lisboa statutory bodies.

Students fromFirst YearSecond YearTotal
Within the European Union€ 5,900€ 2,000   € 7,900
Outside the European Union    € 7,450€ 2,500 9,950

Financial restrictions should never come in the way of your access to higher education, and that is why we believe in providing equal opportunities for everyone.

A specific tuition fee payment schedule may be agreed upon request by the student.


Student Visa

If you are not an EU, EEA, or Swiss citizen, you need a Student VISA.
Once you have decided to join the master’s programme and paid the 1st tuition fee to secure your place, you can issue the acceptance letter on the FENIX Portal. This document will be needed later to apply for a Student Visa. The student visa must be requested at the nearest Portuguese Embassy or Consular Office in the country of origin.

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para

Admissions & Fees

Applications for all masters at ISEG are online.


Admissions Requirements

Candidates for the Master in Finance are:

  • Undergraduates in national or foreign institutions in Management, Economics Finance, Accounting, Mathematics Applied to Economics and Management, or other relevant to the study cycle. Applicants with other degrees are considered on a case-by-case basis.
  • In accordance with Article 17 d) of Decree-Law No. 74/2006 of the 24th of March, altered and republished as Decree-Law No. 65/2018 of the 16th August, other applications considered to be appropriate by the selection panel will be evaluated on the basis of a curricular analysis.
  • Those students who have not yet completed the 1st Study Cycle (Bachelors) are eligible to apply conditionally, provided that they satisfy the conditions for obtaining the degree by the end of September (of the same academic year as their application).

Application Documents

  • Certificate of the undergraduate degree
  • Academic Transcript
  • Curriculum Vitae
  • Motivation Letter
  • English Diploma (optional)
  • Reference Letter (optional)

All candidates should have an excellent command of the English language, written and spoken.


Tuition Fee

These are provisional tuition fees for 2023/24, subject to confirmation by the Universidade de Lisboa statutory bodies.

Students from    First Year Second Year Total
Within the European Union€ 5,900€ 2,000 € 7,900
Outside the European Union     € 7,450 € 2,500   € 9,950

Financial restrictions should never come in the way of your access to higher education, and that is why we believe in providing equal opportunities for everyone.

A specific tuition fee payment schedule may be agreed upon request by the student.


Student Visa

If you are not an EU, EEA, or Swiss citizen, you need a Student VISA.
Once you have decided to join the masters programme and paid the 1st tuition fee to secure your place, you can issue the acceptance letter on the FENIX Portal. This document will be needed later to apply for a Student Visa. The student visa must be requested at the nearest Portuguese Embassy or Consular Office in the country of origin.

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Duration
4 semesters
Schedule
Daytime Classes in Year 1
Daytime Classes in Year 2
Taught in
English
Numerus Clausus
60
Precisa de alguma ajuda?
Por favor, envie-nos um e-mail para
Rankings
Member
Accreditation & Partnerships