A unique one-year master’s programme in collaboration between Hanken and Umeå University

The programme directors are Dennis Sundvik, associate professor of accounting, and Jesper Haga, associate professor of finance at Hanken. They describe the programme as consisting of traditional teaching in finance and accounting with a clear sustainability perspective.

“The aim of the programme is to respond to companies’ need for a better understanding of sustainability from a financial perspective, particularly in response to the EU’s new regulations,” says Haga.

Sundvik explains that the programme is developed in close cooperation with the corporate sector.

“Because we have a strong export industry focused on the green transition here in Vaasa, we have the opportunity to arrange excellent company visits.”

Haga adds that the collaboration with Umeå also strengthens cross-border cooperation in the Kvarken region. He highlights the local funding the programme has received (see fact box below) as a sign that such a programme is needed.

Student life in two cities

Students spend the autumn semester in Umeå, Sweden, and the spring semester at Hanken in Vaasa, Finland. According to Sundvik, there are many advantages to running a programme across two study locations.

“Students get to experience two countries and student life in two cities. They also take courses together with other students outside the programme, giving them good opportunities to build networks. You can see it as two exchange periods.”

Haga notes that the programme has attracted a diverse group of students.

“We currently have students with an educational background from, for example, Germany, Poland, and the United Kingdom. To be admitted, you need previous studies in accounting and finance, but the bachelor’s degree requirement is interpreted broadly. For example, engineers who have taken courses in finance and financial management can be admitted.”

Engaged lecturers

One of the international students in the programme is Sidney Schär from Solothurn, Switzerland. Before joining the programme, Schär completed a bachelor’s degree in business administration at a university of applied sciences in Switzerland, while working part-time in accounting and finance roles.

“In my last year I specialised in financial management, and we also covered some sustainability topics and sustainability reporting, and that’s how I became interested in the link between sustainability and finance. During my bachelor’s degree, I did an exchange semester in Sweden, and I knew I wanted to return to the Nordics. That’s what led me to choose this programme.”

Schär is very pleased with the programme and commends the lecturers at Hanken who are passionate about their subjects and create interaction in the classroom.

“The best part is that there is always a sustainability connection — not only in sustainability reporting but in everything. I believe the future is heading in that direction: no matter which part of business you work in, the sustainability perspective will be essential.”

Schär notes that it is challenging to settle in when you only live about four months in each city. However, he still appreciates the chance to experience different cultures and everyday life.

“Umeå and Vaasa are not far apart, but they are in two different countries. The two cultures teach you how to interact with different people. It’s good training beyond the studies,” says Schär, who would like to stay and work in the Nordics after graduation.

A deeper insight

Vaasa locals Salli-Sylvia Nyström and Frida West are also attending the programme. Both have a bachelor’s degree in business administration and worked full-time before applying for the master’s programme. West previously worked at Vasa Andelsbank, and Nyström at ABB, where she continues to work part-time alongside her studies.

“This programme gives a deeper insight into topics that were only mentioned during our previous studies. I have also always wanted to live abroad, so it was great to try that and to study in English,” says Nyström.

West says she initially felt nervous about starting a new degree in another country, but the stay in Umeå went very well — not least because she and Nyström lived together and supported each other. The spring semester at Hanken in Vaasa has also been a positive experience.

“Since Hanken is a smaller school, it feels more familiar. The lecturers often know who you are, and that creates security. I would definitely recommend the programme to others. The one-year structure is very practical,” says West.

Nyström highlights that it is possible to combine the programme with part-time work, even if it can be demanding at times. She says it’s positive that students are encouraged to write their thesis in pairs, as it can make the intensive one-year structure easier to manage.

“I really appreciate the opportunity to study in English and to earn a double degree. The combination of sustainability and finance is also quite unique.”

“Yes, it feels like attractive qualifications for the future, as sustainability is becoming more and more relevant,” adds West.

Text: Jessica Gustafsson
Photo: Dennis Ståhl

The programme, taught in English, comprises 60 ECTS credits and offers a total of 60 study places. In Umeå, students complete 30 ECTS in financial analysis and risk management, and at Hanken in Vaasa they complete 15 ECTS in sustainable finance and ESG analysis, as well as a master’s thesis worth 15 ECTS. More information about the programme and the next application period: Master's Double Degree Programme in Sustainability Reporting and Financial Analysis
 

The following institutions have contributed to funding the programme:
City of Vaasa, Aktiastiftelsen i Vasa, Aktiastiftelsen i Korsholm, Handlanden Gustaf Svanljungs donationsfond, Harry Schaumans Stiftelse and Svensk-Österbottniska Samfundet r.f.