Presentation

Track 104 “Research in Finance” of the Master Finance at PSL Research University Paris-Dauphine  (M2 104) aims to give students an in-depth knowledge of finance in both theoretical and operational terms. This second year of the Master is entirely taught in English. With an education through research approach, it covers  the main areas of finance: corporate financial decision-making, capital markets, valuation of securities and derivatives, portfolio management, quantitative tools (econometrics, programming langages),  etc. With the range of courses on offer, each student can create their own tailor-made study course.

The M2 104  Research in Finance offers education through research, "at the fore-front of knowledge". Students are required to write a Master’s thesis on an innovative topic, which enables them to gain true expertise in the field of finance. Every year, 4 to 5 students out of a class of 25  go on to write a thesis.

Past students pursue careers in Risk Management, Asset Management, Financial Research, the General Inspectorate of Finance, Quantitative Research, Capital Market Trading, Trading, Consulting and Academia (French and foreign universities, French grandes écoles).

 

The M2 104 Research in Finance was created at Dauphine in 1975 (DEA 104) and over the years has seen more than 1,000 graduates go on to pursue careers in finance or become academics at prestigious French and foreign universities. The courses are taught by professors at Dauphine, but also by professors from other French and foreign universities, all of whom are experts in their field, as shown by their numerous publications in the field of finance and their international prominence. The M2 104 gives students the chance to see whether they are ready for a career in research via an in-depth Master’s thesis possibly leading to a doctorate, or they can lay the groundwork for a career in the finance industry after completing an internship of several months. This 2nd year of Master course covers a broad spectrum of the various areas of finance, even though quantitative methods do play a large part in the curriculum. What characterizes this course is not so much a specialisation in finance, but rather that it teaches students to look at the big picture when analysing financial decision-making and associatedrisks. A rigorous selection process, outstanding teaching and the opportunity to complete a long-term internship are key to the success of the M2 104 Research in Finance.

Delphine Lautier
Director of M2 104, Professor at PSL Research University Paris-Dauphine

Testimonies

Romain Friedman, Graduated in 2014, Equity Analyst, Tikehau IM

I joined the M2  104 after completing the first year of the Master Finance  at Dauphine, it seemed like the natural next step. The tailor-made courses and the education through research approach teach students autonomous study techniques, which I consider key to being up-and-running immediately after graduation. It also means that students who join the labour market are aware of the latest developments in academic research which is why this M2  is so highly regarded for the technical skills of its students. The wide range of profiles of students (engineers, economists, mathematicians, finance) creates an open-minded atmosphere and is reflected in a varied career opportunities and an extensive alumni network. Personally, I greatly appreciated the opportunity to design my own tailor-made course which gave me access to varied courses (Corporate Finance, Derivatives, Commodities etc.) which are all important in my current career as an investment fund analyst. After my internship at Tikehau, I was hired directly after graduating from the Master.

Alexandre Despras, Graduated in 2013, Consultant ALM - Liquidity Risk, Ernst & Young

After the first year of the Master Finance at  Dauphine, I chose the M2  104 because of its theoretical and quantitative approach to market finance covering a wide variety of models, which was greatly appreciated during my internship in the front office.
But beyond the quantitative approach, I think the real value of this research track  lies in the way we approach a model or problem by assessing the initial assumptions and various underlying assumptions. This enables students to look at the big picture. This approach brings true value to me as a consultant as I address a wide range of issues with varying degrees of complexity in the different banks that I work with.

François Bourriguen, Graduated in 2011, Bernheim, Dreyfus & Co

The M2 104, Research in Finance  has many benefits, including high-quality teaching, varied profiles of the students and the career opportunities. The education through research approach provides a detailed knowledge of the fundamental theories of finance, giving students a thorough scientific approach and the tools necessary to understand the markets and their participants. The varied profiles of students, some with an engineering background, others from economics/management universities generates an excellent learning experience, especially due to the many group projects involved. For employers, this M2  guarantees that the graduates have the requisite technical skills, self-reliance and a critical mindset. The Master’s thesis requires hard work, especially during the last semester , but is often a key discussion point during job interviews. Finally, the range of courses on offer enables every student to choose their specialization, providing career prospects in Corporate Finance and Quantitative Research. As an analyst in an investment fund, I use the varied skills I acquired on a daily basis. Our strategies are based on fundamental research, that are applied to markets on an ongoing basis.

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