MSc Investment Analysis

Work towards obtaining CFA Charter Holder status on our MSc Investment Analysis course and advance your career as a successful finance professional.

Investment Analysis

Key facts

  • Award Masters / MSc, Postgraduate Certificate, Postgraduate Diploma
  • Start date September 2023, September 2024
  • Application notes For students who need a visa: we are closed for September 2023 entry. Applications for 2024-25 entry will open in September 2023.
  • Duration MSc full-time: 12 months, MSc part-time 24 months
  • Mode of study full time, part time
  • Delivery on campus


Chartered Financial Analyst (CFA)

 Logo for University Affiliated Program CFA Institute


The University of Stirling MSc Investment Analysis has a world-class reputation and is the UK’s longest-established postgraduate course in the field. It is also one of very few masters degrees in the UK to be recognised under the Chartered Financial Analyst (CFA) Institute University Affiliation Program (UAP). This acknowledges that the course covers at least 70 percent of the CFA Program Candidate Body of Knowledge and places emphasis on the CFA Institute Code of Ethics and Standards of Practice. The course positions students well to obtain the Chartered Financial Analyst designation, which has become the most respected and recognised investment credential in the world.


Our Investment Analysis students have successfully competed in the prestigious CFA Institute Research Challenge, winning a place in the UK Final in ten out of twelve years. The competition is considered the “investment Olympics” for university students, and requires participants to assume the role of investment analysts and produce a report on a publicly traded company with a buy, hold or sell recommendation. The opportunity to be a part of our CFA Institute Research Challenge team gives you a unique opportunity to test your knowledge in a 'real-world' scenario.

On this Masters course you’ll:

  • study the use of qualitative and quantitative techniques to value investments
  • develop and evaluate portfolio management strategies
  • cultivate the ability to extract essential information from financial reports
  • understand risk management tools
  • assess macroeconomic and market trends
  • analyse financial data relating to investments
  • learn about the techniques used to value investments and investment portfolios
  • understand the importance of investment regulation and ethics

The course syllabus has a distinctly international focus. This reflects the globalised nature of financial markets and the investment management profession. Students on this course come from a wide variety of educational and professional backgrounds and cultures, providing a unique opportunity for the development of worldwide contacts.


Amplify Trading Boot Camp

The course also includes our week-long Amplify Trading Boot Camp. This won the CFA Institute Innovative Delivery of Education (IDEA) global award and gives you the chance to participate in highly realistic computer-based simulations that replicate the experience of trading in financial markets. By letting you trade in a simulated environment with virtual money, the Boot Camp bridges the gap between an academic understanding of financial markets and how they function in practice.

Student Managed Investment Fund

Our students have established a Student Managed Investment Fund (SMIF), with the support of our academics within the Accounting and Finance Division. The SMIF allows you to gain practical experience of managing investments. A student-led project, it helps to enhance your employability before you graduate – giving you exceptional practical understanding of investment valuation. Particular emphasis is placed on the principles of responsible investment, including the use of Environmental, Social and Governance (ESG) criteria when selecting stocks. Find out more about the Student Managed Investment Fund, the regular guest speakers and how you can get involved at the SMIF website.

Hear from one of our students


Preparing business leaders of the future

Postgraduate education at the University of Stirling Management School goes beyond text books and lecture rooms, as we also focus on your personal and professional development. Our unique Flying Start Leadership Programme equips you with the awareness, knowledge and techniques essential for building a successful career. These range from practical skills, like effective public speaking, to developing ways to work under pressure in difficult situations and manage conflict. Find out more about Flying Start.

Top reasons to study with us

Course objectives

Developing Real-World Experience

As part of our focus on enhancing your employability we offer our Amplify Trading Boot Camp. Delivered on campus in conjunction with industry training specialist Amplify, the course helps you to bridge the gap between academic theories of financial markets and the real world.

See more about our trading boot camp.

Take part in the CFA Institute Research Challenge

Student teams, selected on a competitive basis from the MSc Investment Analysis, have won the UK Final of the prestigious global CFA (Chartered Financial Analyst) Institute Research Challenge competition twice. Considered to be the ‘Investment Olympics’ for university students, the Investment Analysis course has had a team reach the UK Final in 10 out of 12 years, a feat not achieved by any other UK affiliated partner university.

Walter Scott Global Investment Management Prize

A prize of £1,250 is awarded to the top student on the course.

Professional accreditation

The MSc Investment Analysis is a member of the CFA Institute University Affiliation Program (UAP), a designation awarded to academic institutions that embed a significant portion of the CFA Program Candidate Body of Knowledge into their curriculum. We're one of very few affiliated partner institutions in the UK, and one of a select group globally.

CFA Institute is the largest association of investment professionals in the world. Successful completion of the CFA Program leads to the award of the Chartered Financial Analyst credential, the most respected and recognised investment management designation globally.

To become a CFA Charter Holder, you must study a prescribed curriculum and take exams at CFA levels I, II and III. At least 70 percent of the learning outcomes of all three levels of the CFA curriculum are covered on the MSc Investment Analysis. This makes the course an ideal route for those wishing to achieve the CFA qualification.

Research overview

80% of our research impact in Business and Management Studies is classed as world leading or internationally excellent (REF 2021). 

Entry requirements

Academic requirements

A minimum of a second class Honours degree or equivalent. Applicants without these formal qualifications but with significant appropriate/relevant work/life experience are encouraged to apply.

In addition, if you have professional qualifications such as The Chartered Financial Analyst (CFA) Level 1, we encourage you to apply.

Other routes of entry

If you don't currently meet our academic requirements, INTO University of Stirling offers a variety of preparation programmes that can earn you the qualifications and skills you need to progress onto some of our courses. Explore INTO University of Stirling to see the pathway and pre-masters routes available.

International entry requirements

View the entry requirements for your country.

English language requirements

If English is not your first language you must have one of the following qualifications as evidence of your English language skills:

  • IELTS Academic or UKVI 6.0 with a minimum of 5.5 in each sub-skill 
  • Cambridge C1 Advanced (CAE) 169 overall with a minimum of 162 in each sub-skill
  • Cambridge C2 Proficiency (CPE) 180 overall with a minimum of 162 in each sub-skill
  • Pearson Test of English (Academic) 60 overall with a minimum of 59 in each sub-skill
  • IBT TOEFL 78 overall with a minimum of 17 in listening, 18 in reading, 20 in speaking and 17 in writing
  • IBT TOEFL Special Home Edition Test 78 overall with a minimum of 17 in listening, 18 in reading, 20 in speaking and 17 in writing
  • Trinity ISE II Pass overall with a Pass in each sub-skill, ISE III Pass overall and in all sub-skills, ISE IV Pass overall and in all sub-skills
  • Aptis (4 skills) CEFR B2 overall and B2 in all sub-skills
  • LanguageCert International ESOL B2 Communicator - High Pass overall with minimum 25 in each sub-skill

Last updated: 23 August 2022

For more information on ways that you can meet our English language requirements, including options to waive the requirement, please read our information on English language requirements.

Pre-sessional English language courses

If you need to improve your English language skills before you enter this course, our partner INTO University of Stirling offers a range of English language courses. These intensive and flexible courses are designed to improve your English ability for entry to this degree.

Find out more about our pre-sessional English language courses.

Course details

The MSc Investment Analysis is a one-year, full-time course. You’ll undertake nine taught modules over two 11-week semesters followed by a supervised dissertation. The dissertation gives you the opportunity to apply your knowledge by undertaking research on an area that matches your interests and career objectives. You may opt to produce an investment analysis case study of a specific company or an empirical analysis of an investment-related academic topic.



The module information below provides an example of the types of course module you may study. The details listed are for the current academic year (September 2022). Modules and start dates are regularly reviewed and may be subject to change in future years.

Course Details


Teaching is carried out through lectures, seminars, problem-solving lectures, computer workshops and practical case study sessions.

Guest lectures

As a student on the MSc Investment Analysis you’re given the chance to participate in regular guest lectures. These are typically held on a Wednesday afternoon and are delivered by eminent speakers drawn from leading financial institutions, think tanks, regulatory and professional bodies. Previous speakers include:

  • Russell Napier - Co-founder and Chairman of Electronic Research Interchange
  • Nick Bartlett - Head, Practice Analysis at CFA Institute
  • Ross Lorrimer - Performance Analyst at abrdn
  • Maxim Skornyakov - Investment Manager at Walter Scott Global Investment Management
  • Richard Dunbar - Head of Multi-Asset Research at abrdn
  • Kweku Adoboli - Former Trader at UBS
  • John Goodwin - CEO, Lego Foundation
  • Colin McLean - CEO, SVM Asset Management
  • Kim Catechis, Head of Investment Strategy, Franklin Templeton Investment Institute
  • Lorna Blyth - Investment Proposition Director at Aegon
  • Nicholas McLoughlin - Global Head of Multi Asset Research at HSBC Global Asset Management
  • Michael Nicol - Investment Manager at Aegon Asset Management 


Our Masters degree is awarded on satisfactory completion of a dissertation. Dissertation topics range over all areas of relevance to investment analysis, and allow completion of a case study or research topic dissertation.

Course director

Dr Kevin Campbell

+44 (0)1786 467455

Dr Kevin Campbell

Hear from Dr Kevin Campbell who researches primarily in the fields of corporate finance and corporate governance.

Read more about Dr Kevin Campbell

Fees and funding

Fees and costs

  2022/23 2023/24
Students from the UK£9,850£10,350
Students from the Republic of Ireland£9,850£10,350
Overseas (non-EU) students£21,345£21,845
European Union students£21,345£21,845

Students from the UK

Course fees

Fees shown are for a full-time, one-year Masters course.

If you need to extend your period of study or repeat study, you will be liable for additional fees.

If you are studying part time, the total course fee will be split over the years that you study. The total fee will remain the same and will be held at the rate set in your year of entry.

For more information on courses invoiced on an annual fee basis, please read our tuition fee policy.

Students from the Republic of Ireland

Course fees

Fees shown are for a full-time, one-year Masters course.

If you need to extend your period of study or repeat study, you will be liable for additional fees.

If you are studying part time, the total course fee will be split over the years that you study. The total fee will remain the same and will be held at the rate set in your year of entry.

For more information on courses invoiced on an annual fee basis, please read our tuition fee policy.

European Union students

EU Postgraduate Scholarship

Eligible EU students will automatically receive our EU Postgraduate Scholarship, which provides a 40% fee discount on full-time, on-campus postgraduate degrees at the University of Stirling.

Course fees

Fees shown are for a full-time, one-year Masters course.

If you need to extend your period of study, you will be liable for additional fees.

If you are studying part time, the total course fee will be split over the years that you study. The total fee will remain the same and will be held at the rate set in your year of entry.

For more information on courses invoiced on an annual fee basis, please read our tuition fee policy.

Overseas students (non-EU)

We offer a range of funding options for overseas students.

Course fees

Fees shown are for a full-time, one-year Masters course.

If you need to extend your period of study, you may be liable for additional fees.

If you are studying part time, the total course fee will be split over the years that you study. The total fee will remain the same and will be held at the rate set in your year of entry.

For more information on courses invoiced on an annual fee basis, please read our tuition fee policy.

Postgraduate tuition fee loans

This course is eligible for a postgraduate tuition fee loan from one of the UK’s governments. See the section, below, for more details.

Additional costs

There are some instances where additional fees may apply. Depending on your chosen course, you may need to pay additional costs, for example for field trips. Learn more about additional fees.

Scholarships and funding

The Karen Napier Scholarships

The Karen Napier Scholarships are available on a competitive basis to applicants for the MSc Investment Analysis. Each scholarship meets all of the course fees and provides a £5,000 maintenance award. 

CFA Student Scholarships

CFA Student Scholarships are available for seven MSc Investment Analysis students each year and are awarded on the basis of academic performance during the course. The scholarships allow those students to sit level I of the CFA exams at a significantly reduced fee. A full set of CFA study materials is available at the University.

Commonwealth Shared Scholarships

Commonwealth Shared Scholarship are for candidates from developing Commonwealth countries, looking to study selected postgraduate Masters courses.

Stirling Management School postgraduate scholarships

Stirling Management School is committed to investing in academically talented students, helping you to further your education with one of our degree courses. There are various categories of funding available to support the cost of your studies.

Postgraduate tuition fee loans

Scottish students may be eligible to apply to the Students Award Agency for Scotland (SAAS) for loans of up to £11,500 to cover tuition fees and associated living costs.

English students can apply for a loan of up to £12,167 each year as part of the Postgraduate Masters Loan Scheme.

Welsh students can apply for financial support of up to £18,770 as a combination of grant and loan from Student Finance Wales.

Northern Irish students can apply for a postgraduate tuition fee loan of up to £5,500 from Student Finance NI.

Scholarship finder

If you have the talent, ability and drive to study with us, we want to make sure you make the most of the opportunity – regardless of your financial circumstances.

Learn more about available funding opportunities or use our scholarship finder to explore our range of scholarships.

Cost of living

If you’re domiciled in the UK, you can typically apply to your relevant funding body for help with living costs. This usually takes the form of student loans, grants or bursaries, and the amount awarded depends upon your personal circumstances and household income.

European Union and overseas students won’t normally be able to claim living support through SAAS or other UK public funding bodies. You should contact the relevant authority in your country to find out if you’re eligible to receive support.

Find out about the cost of living for students at Stirling

Payment options

We aim to be as flexible as possible, and offer a wide range of payment methods - including the option to pay fees by instalments. Learn more about how to pay

After you graduate

The University of Stirling Management School has a dedicated Employability Manager. From the very beginning of the course your career is our focus, and you’ll take part in our innovative week-long Amplify Trading Boot Camp run by our trading partner, Amplify.

Many of our graduates hold senior positions in the investment profession. Others have developed successful careers in related fields, such as banking, financial media and business consultancy.

You will have career opportunities in both the ‘buy side’ and the ‘sell side’ of the investment industry, including with insurance firms, hedge funds, broking firms and investment banks.

Our graduates work around the world for organisations including:

  • Baillie Gifford
  • Citibank
  • Horwarth Capital China
  • HSBC
  • Investec Securities
  • JP Morgan
  • Schroders
  • Standard Chartered Bank
  • Vodafone

HigherEd Global Talent Portal

As a Management School student, you'll have access to the HigherEd Global Talent Portal where you’ll find internships, trainee positions, apprenticeships and graduate positions from companies around the world. It helps international students looking for placements back at home and local students that want to explore an international experience.

The global talent portal is in addition to all other existing initiatives and resources available for you through the Careers and Employability Service, and the Target Connect vacancy and events system.

Employability skills

Everything you do while studying here is designed to help you build the personal skills that will make you stand out to future employers.


You’ll start your course on our Flying Start leadership programme which will challenge your perspective of culture and develop your self-awareness, as well as team-working, problem-solving and presentation skills.

You also have the chance to gain real life experience through our Amplify Trading Boot Camp and our Student Managed Investment Fund.

Read more about how we prepare you for the world of work.

What our students said

Saumil Shah
Saumil Shah
MSc Investment Analysis
I recommend the Stirling experience to anyone – both the quality of the teaching at Stirling Management School, and the calm and pleasant campus environment.
Read Saumil's story
Evans Boamah
Evans Boamah
MSc Investment Analysis
The enormous level of support and guidance from course staff, as well as the excellent teaching facilities, undoubtedly added to my experience at Stirling.
Read Evans's story
Disha  Tekchandani
Disha Tekchandani
MSc Investment Analysis
I instantly liked the fact that the course was accredited by the CFA Institute and offered the opportunity to participate in Amplify Trading Boot Camp and Ben Graham’s Trading Challenge.
Read Disha's story

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