sy160
Hello everyone,
I'm currently a senior at a mediocre university in the United States. I am graduating with summa cum laude. I have a double major in Accounting and Finance, and a minor in Mathematics. I want to apply for masters in finance at MIT. I know it's competitive. I just wanted to get some evaluation of my chances for acceptance at MIT ms finance. Here is my profile:
An international student at a US university
Major GPAs: 4
Cumulative GPA: 3.93
GMAT 710 (Q50/V37)
Honors college: graduating with Summa Cum Laude
two research papers (writing in progress)
President/founder: Financial Management Association (FMA)
Founder of a community library in my hometown (providing access to more than 10,000 individuals)
Election Commission: Student Government Association
Student Ambassador: college of business and economic development
President: high school student council
No work experience: senior at current college. no internship because I'm an international. You all know how difficult it is to get internships and jobs in trump administration.
I am working hard to get into some competitive master programs. Please help me evaluate my profile and suggest me how i can better improve my chances. Thank you,
You have a compelling profile in many respects. Because Masters in Finance AdComs will be more interested in raw intellectual potential rather than work experience (students tend to be younger and less tenured for Masters in Finance programs versus MBA), they’ll be impressed by your 4.0 in Accounting & Finance and the fact that you are minoring in Math. But your GMAT of 710 is low - both in an objective sense against the MIT average and especially in a relative sense if you are from an overrepresented demo (you mentioned being Int’l). If you are from one of the most represented demographics (Indian, Chinese, Bangladeshi, Pakistani), GMAT scores tend to be higher than the school average for admitted students. You still have a year left of undergrad - perhaps you can lift your GMAT a little before you apply?
Although it’s impressive that you were student body president in HS, I’d leave that off your masters-level resume. You’ll look like a “faded glory” if you use stuff that’s that old in your app. And you have great & varied current ECs so there’s no need to go back that far.
While it’s certainly demoralizing and indeed quite difficult to secure an internship as an international student (especially a typical internship like one your peers might have at a fortune 500 company that won’t sponsor internationals), it is likely possible that you could do *something* in your senior year to get work experience on your resume prior to your app submission. Even if it is unpaid, having some work experience is important. The reason why work experience is critical is because schools like MIT want to know that you will be *employable* post masters because employability and exit comp is one of the critical metrics by which masters programs are evaluated by rankings institutions like US News & World Report and The Economist. The best way that you can prove to AdComs that you are employable is based on your previous employment. With COVID, it may be possible to secure an on-campus work-study position or an unpaid academic research internship with one of your favorite finance or accounting professors. If you do a good job, you’ll probably get a great masters rec letter out of it even if you don’t get paid. More importantly, there will be people competing with you for spots who *do* have work experience, so in order to beat them out for the spot, especially if you are applying from an overrepresented demo with a lower-than-average GMAT score, you’ll need to make sure you have some work experience.
If you are intent on pursuing a masters in finance, you might want to explore other schools as well, and hedge your bets with a few different countries. Italy, France, the UK and Canada all have world-class masters in finance programs that are associated with similar professional outcomes and compensation similar to that of MIT. Applying to several different schools in several different countries will maximize your chances of getting into one or more schools as well as maximize your chances of being able to negotiate a scholarship (typically negotiating a scholarship is easier when you have leverage of a better offer -- either a higher ranked school or a scholarship somewhere else -- in hand).
If you are applying with a below-average GMAT score or from a school outside of the top 25, you need to make sure that the strategic positioning outlined in your essays (e.g., what you want to do post-masters, how your ECs in student government and community engagement will enable you to lead as a student in b-school, what sorts of clubs you’ll get involved with, etc.) resonates with and syncs with your prior successes. If talking to an admissions consultant about school choice and strategic positioning may be helpful to you, feel free to sign up for a free consultation here:
https://admissionado.com/free-consultat ... sultation/