The financial centre will grow all the better for having the required skills in Monaco.
Dr. Grégory Moscato, Lecturer at the International University of Monaco and Director of the Master of Science in Finance.
Can you describe the IUM Master of Science in Finance for us?
It is a high school +5 years of further education training course lasting 16 months with 530 hours of lectures. It is very intense. The first 10 months are devoted to courses at the University, and in the last 6 months the students do internships in the financial industry, where they write a dissertation that they will present before a jury. This course has been in existence since 2005 but it has evolved, and within the Master we currently offer two specialisations: an International Wealth Management and Private Banking specialisation and a Hedge Funds and Private Equity specialisation. All students take a common core course, however, as whatever their future specialisation, they need to master a broad range of financial knowledge and fundamental techniques. At the end of the first term their strengths and interests are well understood, and the course director, together with the careers advisor, approves (or otherwise) their initial specialisation choices.
What is the students’ profile?
Very hard-working, above all: 530 course hours over 10 months, plus preparatory work, homework, revision, projects and presentations, which can amount to 50 to 80 hours a week. They are young graduates who have completed their bachelor’s degree, and some of them (50%) already have advanced training in finance. We also have working finance professionals who want to strengthen their technical level or move their career to specific sectors. They are of all nationalities and from all continents; Europe, the Nordic countries and Eastern Europe are well represented, as well as South America, the USA and Canada, Africa, the Middle East and even Asia (India especially).
And the lecturers?
The tenured faculty, representing two thirds of the academic staff, all have a PhD in finance, economics or mathematics. We also seek professional experts in their field who have real teaching ability.
Our students are exposed to the current best practices. Teaching is firmly directed to the needs of the financial industry. Lecturers interact with their peers, as well as with professionals, located in continental Europe, England, Italy and the USA. This results in the continuous evolution of our programme.
Do students get into the labour market easily?
Our placement rates are indeed very high. We constantly ask ourselves the question, “What does the financial industry expect of young professionals?” Our goal is not to ‘push out’ overcrowded promotions, but rather excellent students. The proportion of young graduates hired in Monaco is quite high, considering those who have a European visa, of course. Our Private Banking specialisation is highly appreciated. We regularly have students who go to work for hedge funds, pension funds, or who opt for trading financial and physical assets. For these specialised brokers Monaco is also a chosen place. Those students who wish to work in Private Equity go instead to the City of London or Germany. But we are increasingly working with MVCA (Monaco Venture Capital Association), AMAF, AMCO and Monaco for Finance, as the Monaco financial centre will grow all the better for having the required skills on the spot.
