Our experts tell us what’s new in the world of finance and how RMIT students are getting the skills to succeed.
Want to learn the skills and practical knowledge required to excel in finance, using live data from the world’s leading source of intelligent information for businesses and professionals?
In the new Master of Finance at RMIT, it's possible. At RMIT, you’ll learn using live market data feeds in the unique environment of the RMIT Trading Facility, and use industry-standard tools to graduate with the complete set of skills in demand for finance professionals.
We asked Dr Angel Zhong, a senior lecturer in finance and program manager of Master of Finance in the School of Economics, Finance and Marketing to tell us what’s new in the recently revamped Master of Finance at RMIT.
What’s new in the Master of Finance?
A new feature of the postgraduate degree is its duration. The Master of Finance can now be undertaken in as little as 18 months, giving graduates the opportunity to advance their careers and lead what's next sooner.
RMIT’s Master of Finance has also recently been affiliated with the Chartered Financial Analyst (CFA) Institute - and is responding to the needs of the evolving finance industry with a stronger focus on quantitative finance and advanced modelling skills, as well stronger international exposure for students.
“Research shows an increasing demand in the finance industry for digital literacy, business analytics and innovation and we’re adapting to market demand for graduates with advanced modelling skills in finance and the ability to innovate in the world of finance,” Zhong says.
“Deloitte’s 2018 Future of Work report also highlights strong demand and severe shortage of coding and programming skills in the investment management industry.”
“In the era of digital finance, our programs widen the knowledge of our students across diverse areas in finance. Our program is quantitatively oriented and provides both depth and breadth in finance. Our program reflects contemporary professional practice in finance. We equip our students with the necessary skills required to embrace the changes in finance in the complex economy.”
Every year, the CFA Institute also runs its CFA Research Challenge. This is an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis and professional ethics. It's a platform where teams of finance students from universities all over the world test their financial analytical skills in competition.
Master of Finance students will have the chance to compete in this challenge, and be tested on their analytical, valuation, report writing, and presentation skills. Students gain real-world experience as they assume the role of a research analyst. For the past two years in the challenge, RMIT students have placed in the top three.
What opportunities will I get to apply my knowledge?
Studying in the RMIT Master of Finance, you’ll gain the competencies and knowledge you’ll need as a business professional of the future. You’ll stay up to date with industry trends and make valuable connections to industry through guest lectures given by current specialists, as well as internships and mentoring.
The RMIT Trading Facility is the only facility of its type in Australia and one of the largest tertiary-based facilities in the world. In the simulated trading facility, students get access to live market data feeds from Refinitiv Eikon, and use the financial analysis tools used by world-leading banks and investment firms.
“We conduct our teaching in the state-of-the art RMIT Trading Facility," Zhong says. "Students will experience first-hand what professionals in the world’s leading banks and investment firms do with the same tools and information to analyse news, data and conduct market research.”
“Our students are running simulated trading using live market data, as if they’re trading as a fund manager in real life. Compared to trading with static data, our data gets updated every millisecond. It’s very authentic because students see the changes as they happen, so they learn to adapt.”
In the RMIT Trading Facility, students use market data in real-time trading simulations and technical workshops for multi-asset portfolio and risk analysis, hedging, money market and foreign exchange instruments trading. This innovative facility is unique for giving students a realistic, hands-on work environment, facilitating experiential learning without incurring real financial risks and costs.
Students of the Master of Finance and other economics and finance courses will also have the opportunity to compete in the RMIT Finance Trading Competition. Held at the RMIT Trading Facility in July, the competition is a unique experience where students can gain real-world trading experience, buid skills in collaboration and leadership, and have fun at the same time. The competition is sponsored by RMIT's industry partner Refinitiv, a subsidiary of London Stock Exchange Group.
Who studies the Master of Finance?
The masters degree is suited to people already working in the finance industry wishing to advance in their careers, who already hold a relevant bachelor degree or equivalent, as well as those wanting to make a career change to enter the diverse field of finance and economics.
Master of Finance alumnus David Matthew Brown was working as a geologist in Ireland before he moved to Australia and decided to make a career change to finance. He completed the RMIT Graduate Certificate in Finance before progressing to the masters.
“There are a lot of opportunities I can pursue with my finance degree, and being in my current role (as a Pricing Analyst for Bendigo and Adelaide Bank) has provided me with a lot of work-life balance,” Brown says.
The RMIT Trading Facility is the only facility of its type in Australia and one of the largest tertiary-based facilities in the world.
Why should I study Finance at RMIT?
RMIT has been teaching the Master of Finance for over 30 years. We have a 5-star QS ranking for excellence in higher education, and in the QS World University Rankings 2021, we rank 18th in the world among universities less than 50 years old. We also rank highly for graduate employability, which includes employer reputation, alumni outcomes, partnerships with employers and employer-student connections.
RMIT is also ranked in the Top 10 in Australia for study and research in finance in ShanghaiRanking's Global Ranking of Academic Subjects 2020.
Graduates of the Master of Finance typically move into high-demand positions like financial investment advisors and managers, financial brokers and fund managers. These are all positions with strong future growth, as projected by the Australian Government’s Job Outlook.
Brown chose RMIT because he wanted a degree that would give him a head start in his career.
“What I found distinct about the RMIT degree is that it’s tailor-made to give students a very deep and niche knowledge in finance methodology,” Brown says.
“It’s strongly industry-partnered, which meant that I was talking to people already working in the industry, not just reading from a textbook.”
Story: Hilary Jones
