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Strategy to apply MSc in Finance & Investments

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Joined: 24 Apr 2017
Posts: 10

Kudos [?]: 1 [0], given: 9

Location: United Kingdom
GMAT 1: 620 Q44 V31
GPA: 3.1
WE: Accounting (Transportation)
Strategy to apply MSc in Finance & Investments [#permalink]

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New post 12 Nov 2017, 04:56
Hello,

I'm a Spanish 28-year old looking to apply for an MSc in Finance. I have studied "Business Administration and Management" at an average Spanish University and have work experience abroad (UK) in transactional finance (Accounts Departments) out of the financial services industry. My GPA is quite low (around 7.4/10) and my GMAT is 620 (Q44 V31) but I hope to reach higher levels (650-670) in the following month.

Due to my low profile, I plan to apply for several schools in Europe. However, they have different application deadlines and requirements and cannot apply to m dream schools until the end of December. I have B options that are encouraging me to apply as soon as possible (now). However, I'm afraid of doing it and receiving an offer from my B options before knowing the answer from my dream school.

I have before gone through all these application processes so I don't really know how it works. Once you receive an offer from a business school, how much time do you usually have to give an answer? If you accept, do they require immediate payment? Can you back off if you later receive a better offer?

I'm wondering if I should hold my applications (slightly damaging my chances within B options) and apply to all of them at the same time to receive the answer within a similar period of time.

How do usually people manage this issues? I would feel terribly bad accepting a B option and getting a letter of acceptance from my dream school, having to reject it.

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Re: Strategy to apply MSc in Finance & Investments [#permalink]

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New post 13 Nov 2017, 01:26
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luigidt wrote:
Hello,

I'm a Spanish 28-year old looking to apply for an MSc in Finance. I have studied "Business Administration and Management" at an average Spanish University and have work experience abroad (UK) in transactional finance (Accounts Departments) out of the financial services industry. My GPA is quite low (around 7.4/10) and my GMAT is 620 (Q44 V31) but I hope to reach higher levels (650-670) in the following month.

Due to my low profile, I plan to apply for several schools in Europe. However, they have different application deadlines and requirements and cannot apply to m dream schools until the end of December. I have B options that are encouraging me to apply as soon as possible (now). However, I'm afraid of doing it and receiving an offer from my B options before knowing the answer from my dream school.

I have before gone through all these application processes so I don't really know how it works. Once you receive an offer from a business school, how much time do you usually have to give an answer? If you accept, do they require immediate payment? Can you back off if you later receive a better offer?

I'm wondering if I should hold my applications (slightly damaging my chances within B options) and apply to all of them at the same time to receive the answer within a similar period of time.

How do usually people manage this issues? I would feel terribly bad accepting a B option and getting a letter of acceptance from my dream school, having to reject it.


First piece of advice:
Get a better GMAT. You only do B-school once, and the salary you get out of B-school is in direct relation to the school you go to, which is in direct relation to your GMAT score. A 620 is pretty low today. And it's probably the easiest thing to fix. So do it.

For all the rest, don't worry about that yet... But essentially, yes it is better to hold all your applications at the same time. And normally you get an answer within 2-4 months after deadlines, and then matriculate the next year.


But things work a bit different in Europe as some schools have 2 intakes (INSEAD, HEC, etc.) and some like IE have rolling deadlines.

Anyhow, first things first - kill that GMAT!

Best of luck!
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Jon Frank
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Kudos [?]: 1001 [1], given: 49

Intern
Intern
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B
Joined: 24 Apr 2017
Posts: 10

Kudos [?]: 1 [0], given: 9

Location: United Kingdom
GMAT 1: 620 Q44 V31
GPA: 3.1
WE: Accounting (Transportation)
Re: Strategy to apply MSc in Finance & Investments [#permalink]

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New post 16 Nov 2017, 01:55
Thank you for the advice. Getting a better GMAT is definitely on my plans. I will sit the exam again in around 1 month.

In any case, some of the Universities I want to apply for do not ask me for a GMAT and they encourage me to apply as soon as possible. I am just holding the application in order to apply all of them at the same time and hear from my dream schools at the same time than my "B" options, but I do not know if this is the right decision.

I don't know anything about this process and I would like somebody to explain it to me. For instance, what happen when you receive a letter from a Business School offering you a place in their programme? How much time do you have to give an answer? What happen if you accept? Do you have to pay the cost of the programme immediately? Can you hold back your application if you also receive acceptance from your dream school after saying "yes" to the "B" option? What are the consequences of doing this?

I am not planning to apply to INSEAD, HEC, LBS, LSE or IE as my GPA is not high enough to get an scholarship and I cannot afford their prices. My applications will go to top40 business schools such as RSM, SSE, Lund, Tilburg, Strathclyde, Durham, etc... Hence, they do not usually have any "rounds" and most deadlines are open until April 2018. In any case, most of them recommended me to apply the sooner the better.

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Re: Strategy to apply MSc in Finance & Investments [#permalink]

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New post 25 Nov 2017, 00:31
I would think about leading with the schools you most want to get into and then following that up with your B schools if you are dead set on this year. Your GMAT will be really important so a retake is key. Generally you want to apply when your profile is strongest but fi you are afraid of missing out on a potential later round dream admit consider the plan above
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Kudos [?]: 257 [0], given: 0

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Joined: 30 Nov 2009
Posts: 5768

Kudos [?]: 1001 [0], given: 49

Location: Chicago, IL
Schools: Brown University, Harvard Business School
Re: Strategy to apply MSc in Finance & Investments [#permalink]

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New post 29 Nov 2017, 09:39
luigidt wrote:
Thank you for the advice. Getting a better GMAT is definitely on my plans. I will sit the exam again in around 1 month.

In any case, some of the Universities I want to apply for do not ask me for a GMAT and they encourage me to apply as soon as possible. I am just holding the application in order to apply all of them at the same time and hear from my dream schools at the same time than my "B" options, but I do not know if this is the right decision.

I don't know anything about this process and I would like somebody to explain it to me. For instance, what happen when you receive a letter from a Business School offering you a place in their programme? How much time do you have to give an answer? What happen if you accept? Do you have to pay the cost of the programme immediately? Can you hold back your application if you also receive acceptance from your dream school after saying "yes" to the "B" option? What are the consequences of doing this?

I am not planning to apply to INSEAD, HEC, LBS, LSE or IE as my GPA is not high enough to get an scholarship and I cannot afford their prices. My applications will go to top40 business schools such as RSM, SSE, Lund, Tilburg, Strathclyde, Durham, etc... Hence, they do not usually have any "rounds" and most deadlines are open until April 2018. In any case, most of them recommended me to apply the sooner the better.


Well, good luck on your exam!!

As for your questions, you ask good ones, but a bit too much to write about here. And most of this info is readily available by googling. But basically, the deadlines are in Sept/Oct then January then round 3 in March. You usually get an answer within 2-3 months. And you don't have to pay it immediately. Yes, you can say no to schools. And sometimes you can defer.


I'd also mention that if a school doesn't want a GMAT, I'd suggest looking very carefully to see if they can get you a job.

Best,
_________________

Jon Frank
Founder, Admissionado

Admissionado | Packages | Success Stories | Team

If you like the post, give it a KUDOS!

Kudos [?]: 1001 [0], given: 49

Re: Strategy to apply MSc in Finance & Investments   [#permalink] 29 Nov 2017, 09:39
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