It is not always easy taking a decision to study abroad by Nigerian students, especially when there are so many parameters to consider before travelling out. When there are so many needs calling for one’s attention, one may get lost in the sea of an endless search for what should take more priority over the other.
Studying abroad is one of the best ways to improve your social, academic and language skills while adding unequalled complexity to your proficiencies. Studying abroad would give you a competitive advantage over your mates back in Nigeria. When it comes to employment, employers seek out job seekers who have some additional feathers to their caps.
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Course Outlook
Choosing to study banking and finance abroad, you must consider the university tuition fees, top universities in international rankings and available career opportunities for graduates. With that, you can choose the best and most appropriate place to study banking and finance degree based on your budget, how prestigious the university is and how many chances you have when it comes to employment opportunities.
Having a banking and finance degree will teach you how to manage and keep track of funds. You will be taught all the stages involved in acquiring and allocating resources that are necessary for capital development. Most business schools focus on preparing their banking and finance students on how to evaluate and boost assets and financial resources so as to meet the purposes of the company or individuals involved.
As a Nigerian banking and finance student, if you are wondering where to study finance, you may want to give the following countries a shot, every decision is worth it.
- The United States of America
The United States holds so many opportunities for students looking to study banking and finance abroad. It has the best schools, experiences and jobs readily available after graduation. You will also likely meet many Nigerians already living in the country, so, you are not going to be alone there.
About half of the top financial schools and companies the world could boast of are situated in the United States of America. The Bureau of Labor Statistics estimates that there would be a growth of 5-7% in the field of finance in the United States in the next ten years. Numerous investment groups and leading banks in the world have their headquarters in the US. Cities like Chicago is trading hub, while Boston is famous for its asset management market and booming industries.
With the above, you know that the United States is worth giving a thought to. However, it is not pocket friendly studying in the country.
Top schools in the US for studying banking and finance are Harvard University, Massachusetts Institute of Technology (MIT), University of North Texas, St John’s University, New York and Stanford University.
The estimated cost to live in the USA is around $10 000 to $12 000 per annum, which averages around $700 to $1 000 per month. The tuition fee ranges from $5 000 to $50 000 per year, depending on the type of school and courses offered.
- Germany
If you are looking for a pocket-friendly destination to study banking and finance where you would not get into debt studying, you might have to consider Germany. Almost all public universities in Germany offer free bachelor’s and master’s degree programmes. It applies to all degree programmes and international students, regardless of their country of origin benefit from this magnanimity of the German government.
All you need to pay as a student is 100 – 350 EUR per semester that covers for administration fee.
In addition to the free tuition fees, getting a banking and finance job in Germany is like a walk in the park. For instance, Frankfurt is a city that is known for its thriving economy. It houses large institutions like the Deutsche Bank and other business corporations which are eager to recruit the best hands to occupy their financial positions.
Living expenses do not cost more than 1000 EUR per month.
- France
You might think the UK would be the best study location for banking and finance, judging by its antiquity as a finance centre, you might think again. France is a great study destination in terms of tuition fees and other factors. All international students pay tuition not exceeding 1000 EUR per semester in public schools at all study levels. So, if you are a banking and finance student on a budget, you might have to consider France as your study destination. French institutions also have a global reputation for offering the best education, the reason you should not worry about their standard of education.
In addition, France has some of the best business schools around the world, according to TopMBA.com. Students also undergo a six-month internship which enables the students to experience the best of life top financial markets could offer. Studying in France would offer you the best opportunities to secure job interviews with top banks, consulting firms and multinationals in Europe, such as BNP Paribas, JP Morgan Staley, and Unilever.
Healthcare in France is quite affordable, with 70% of medical expenses reimbursed by the French government if you apply for a Carte Vitale. Your university is burdened with the responsibility of helping you find the best medical insurance and student accommodation in France.
After graduation, you would be allowed to stay in France for over 12 months before you would be required to apply for a status change, provided you hold an acceptable qualification and are able to find a good job.
Living costs in France is also quite affordable. You are likely to spend between 800 to 1000 EUR per month. However, Paris is an exception. Due to its high standard of living, you might be spending between 1 500 and 1 800 EUR per month.
- China
Hong Kong, a Special Administrative Region (SAR) of China, is one of the most powerful cities that Asia could boast of. Banking, wealth management and trade markets are located in expansive amounts in China and this makes the country an attractive location for international trade.
Studying banking and finance in China aims to help international students, particularly, Nigerian students to develop competence in banking and financial business operations, financial risk prevention, defusing financial risks, comprehensive analysis, organisation, communication and innovation. They are also provided, through the programmes, with specifically designed core courses like macro and microeconomics, money and banking, financial markets, finance, international commercial law, international trade among others.
To earn a bachelor’s degree in China as a Nigerian, would require four years of intense study in the country. The time for acquiring the degree may be shorter, depending on the school and courses. To earn a master’s degree in China might require a period of two to five years, while that of a PhD takes about three years in the country. There are also associate degree programmes, though mainly offered by technological and technical schools.
Top universities offering banking and finance to international students in China include Fudan University, Shanghai, Peking University, Beijing, Zhejiang University, Hangzhou, among a host of others.
Depending on the city and type of apartment, students pay 150 to 1000 USD for residence halls or renting a flat. Living with a Chinese family costs between 350 to 550 USD per month. Total living costs per year in China is around $9 266.
- Dubai
Dubai is gradually becoming the financial hub of the United Arab Emirates (UAE). The answer is found in its fast development. Uncountable organisations of international repute are opening most of their branches in Dubai. This creates an enormous opportunity for finance professionals.
The UAE is constantly expanding its education and research activities. Much development has been carried out by the local authorities at various financial institutions of the country, ranking them among the best in the world.
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As a Nigerian student, you are opportune to learn from the best hands and most courses are taught in English language, including banking and finance. Participating in outdoor activities such as sky diving, dune bashing, camel riding, desert safaris, and much more, are some of the ways you could unwind during the weekends. So, studying in Dubai is not just about books, there is so much fun as well.
Furthermore, financial managers supervise the financial operations of a company or organisation. Banking and finance have always been attractive courses for Nigerian students, especially for those who want to become the leaders of banking and financial institutions. Their salaries are also quite attractive, making it an enviable course to study.
Understanding how financial institutions work, with emphasis on international trade and associated financial markets is part of the core topics to study abroad. Your professional capabilities will give you a competitive edge for a globally focused career. The course work and research components are designed to complement professional practices in financial industries. To become more proficient as a professional, you will be imparted with analytical and decision-making skills as a student.
There is no better way to become all this except to study banking and finance at an internationally recognized university. This was one of the reasons we compiled the above countries for you to make the best choice. However, it is advisable to visit the website of individual universities and institutions in your choice of country to understand what they have in stock for you. Not all schools are designed to give you exactly what you need, due to their numerous programmes and their combinations. Therefore, do not settle for less.
