Applicants for Masters in Finance program

Question

I have seen this forum for a while now, although I just made an account and decided to post and before I go rambling on, I doubt many of you would have heard of it, but its the best in Pk we have. Anyway I am trying to get in a good MS Finance program as I am graduating this year but then as it turns out I am not going this year but next year, so the one place I had applied and admitted, Tulane's MFin program, I have deferred for Summer 2009. Now the question I have for all the big wigs on this forum to help me out is: Since I have an year and will probably be working in xyz can I do better than Tulane?

My Gmat's 690 (90th) V:38 (84) Q:47 (81) A: 5.0/6

CGPA: 3.25/4, Trust me xyz is tough in grading, but I simply can not convince you as you probably don't even know about the University.

Notable Extra-curriculars but I doubt they would make a difference if I put them here in much detail, stuff like Society President and Top ten ranking in Regional Chess Tournaments etc.

I have heard Tulane to be good from some places, and some seem to just brush it aside, I mean the Financial Times ranked it tenth in Finance in the World and US news b-school ranking dropped it to 54 from 45, similarly on forums and all, so what I really want to know as I said before, can I do better than Tulane and if I can what are you suggesting?

Would really appreciate a candid response.

Thank you.

sam77sam7 · Answer

Your stats seem in range for many schools...

Can I ask why you would like to pursue a MFin instead of an MBA? A 690 is nothing to slouch at, and a 3.3 is average for most schools, even into the top 10. I wouldn't brush aside achievements such as a top 10 ranking in chess, even if it is regional.

Admittedly, I don't know a ton with regards to MFin programs, but I would think you could be competitive at many schools in the top 10, or top 15.

~Sam

MJ2009 · Answer

Well there are many reasons for pursuing MFin as opposed to a MBA; no experience, I will be graduating in May 2008!, MFin is a one year degree, a big factor for me as an international student, both b/c of the cost and time involved. That said I do plan to get an MBA from somewhere really nice after the Masters in Finance and a few years work experience.

And my CGPA is more likely to be 3.2 by the time I graduate, not 3.3 (Grades for the last quarter are yet to come in). I am not slouching at 690, but frankly its not in the top league either and I just want to spend my money on a degree thats really worth it as Scholarships are not really up for grabs for international students. If I go to Tulane I am spending something like $65K (living, tution, everything), so I am just wondering can I pay round about the same amount and get into a better place. You are saying top 10 or top 15 might be possible, tell me the #15 and I might be ready to go there.

Up till now I have been eyeing Rochester and Vanderbilt, I would really appreciate if you have something to suggest. Please don't hesitate to be frank and candid, I will be glad if you or anyone can help me out here. I sure hope to retun the favor to someone, someday.

Thanks.

CerealsMBA · Answer

What about the MFin at the London School of Economics, or another school in the UK? I definitely believe that a MFin from there will open you far more doors than one in a non financial center such as New Orleans...

Just my 2 cents...

Just my 2 cents...

kwam · Answer

I agree, you have also nothing to loose by trying LBS, Princeton, etc....

You have already one egg in your hand, and your chances may be Doable as you're a very unique international student (I may be thinking as an MBA adcom, though).

If I were you, I'd try for the big names... As I mentioned you have nothing to loose...

MJ2009 · Answer

I get what you are saying in already having the Tulane admission but, (trying not to sound ungreatful), I really do want to go to a better place, 3.2 just doesn't cut for places like LSE or Princeton, maybe for LBS but after a good deal of work exp. I still would nonetheless try LSE and Princeton, but other than that is there some other University or program that I might be over looking in my research.

And kwam, I really want to know how am I "a very unique international student", just so I can use that on my application. If you are thinking of the top ten Chess ranking, its regional and trust me Pakistan doesn't really have great Chess players.
And one more thing I didn't understand, what does "MBA adcom" mean?

Thanks again.

lsuguy7 · Answer

I'll play devils advocate on this one, while I think that LBS and Princeton are better schools, you won't find better weather, culture, and people than in New Orleans. I can't stress how prestigious Tulane is to us in Louisiana, and if you look at other universities in the South it usually does well in a regional setting.

Tulane was recently ranked one of the best places to study finance by FT (I know doesn't mean much) and other than Emory, and Rice there isn't a lot of competition for Tulane in the South.

Of course I love Louisiana so I'll always be biased.

KingKREEP · Answer

Someone whose job is to drive people insane with e-mails at all odd hours and whose whims and fancies decide the fate of countless others. They are also largely responsible for the shortened life expectancy of MBA applicants. And oh yeah, they invented the word 'holistic'. In other words MBA adcom = MBA  Ad missions  Com mittee.

MJ2009 · Answer

Yes thats about all I get regarding Tulane, a wonderful setting and culture and all, very honestly thats not high on my priority as much as a culture conscious person I am. Infact its probably on the list either. My major concern as intn'l student is that I am spending a lot of money on this degree and I want to get it from a good university, something of the name tag thing as well. Does Rochester or Vanderbilt have that brand name that puts them above Tulane? And seriously to the big wigs and (those that have posted here: "sam77sam7", and "kwam", is there any chance my intn'l student profile might impress LSE or Princeton MFin? Some feedback on that would be great. I would really like to hear more from some of the Adcom sort of people? some answers to the "how to" questions, please.

lsuguy7 · Answer

I think the MFin cost a lot of money for a one year degree and I don't think you're going to get the wow factor out of it that you will get from a top notch MBA. If you don't care at all about "fit" at the school and you just want the higher ranked - I'd say Vandy has an edge over Tulane as it has more of a national name. Also I think the Vandy program is shorter, so you get into the work world a little faster.

Like I said before knowing where you want to work is a big deal, if you want to work in Louisiana or Texas - I think Tulane gives you a better chance. If not not go with Vandy if you can't get into LBS or Princeton.

Like I said before knowing where you want to work is a big deal, if you want to work in Louisiana or Texas - I think Tulane gives you a better chance. If not not go with Vandy if you can't get into LBS or Princeton.

MJ2009 · Answer

But how can you get into a top-notch MBA with no exp and a profile like mine? Is there any top notch MBA program that might be potentially willing to take me? ... what international exposure advantage card can I play to get into... A reply with a few names would be really helpful guys.

Thank you

kwam · Answer

I don't agree with the Wow factor completely, if you want to work in heavy quantitative trading positions an MFin or MS would give more opportunities than an MBA. I agree though that it depends on what you want to work with. Princeton has a very small intake - 40 - and is a very prestigious institution, so competition will be tough there. https://www.princeton.edu/bcf/graduate/faq/ The LBS MFin (the other I researched) is a very good program and from what I talked to past students placements were very good (but remember that this was before this whole credit crunch). https://www.london.edu/mif.html I'd say that Princeton is a Long-Shot (it is for everybody in the world, it's like Stanford's MBA). I think you're GMAT is ok (for LBS I heard that 34v and 46q are the limit), if your past school is tough in grading, it would be better to use your ranking in the class, rather than the GPA itself. In your situation, I'd try Princeton, LBS, LSE and other schools (I think UC Berkeley has an excelent Masters in Financial Engineering). You already have Tulane in your pocket, so why not to try? The big problem here is that unlike MBAs these MFins usually do not disclosure as much info about admitted students, so it's harder to trace a strategy.

loom · Answer

Hi musaabjaved:

If you intend to work in the USA, it's very important to consider how your M.Sc. Finance degree will affect your OPT eligibility.

Non-U.S. citizens are given 1-year "Optional Practical Training" authorization in the U.S. usually upon completion of a degree program. During this period, you can work without requiring sponsorship from an employer. If you intend to do an MSF and then an MBA at a later date, bear in mind that you'd have already used up your OPT from the MSF program, which means you would need sponsorship for an H1 Visa right out of graduation from your MBA (very tough to get, but not impossible). A fresh year of OPT is only awarded for each higher degree you obtain (e.g. Bachelors -> Masters -> PhD).

IMO, Tulane is a great school for finance. Very underrated and people seem to forget that before Hurricane Katrina, the university was churning out Wall Street talent each year. Had the New Orleans economy & the university's operations not been so severely affected by the disaster, I think Tulane would have continued to rise in reputation and rankings. Other schools I suggest:

1. Carnegie Mellon: Masters in Financial Engineering (M.F.E.) -  CMU brand name, prestige in Engineering & Sciences 
2. Boston College: Dual Master of Accounting/Master of Finance (M.S.A./M.Fin) -  Location can't be beat. Boston downtown financial district & close to NYC.  
3. University of Illinois at Urbana-Champaign: Master of Science in Finance -  Close to Chicago, a major financial city. 
4. Rutgers University: Master of Quantitative Finance.

MJ2009 · Answer

I sort of get what you are guys are saying but its just that I don't think I am really cut out for the hardcore mathematical finance. I mean, I love finance and the math involved in it but not the other way around. I don't want to do all the coding, just a little exposure would be nice but being a quant and all is a little too much for me. So I think I will pass on those Financial engineering programs, infact on a second thought I doubt I will be able to get in the ones Loom mentioned.

What do you guy think about the M.S in Business Administration in Finance at Rochester?

Also Loom regarding the OPT, do you think an year of OPT could get me a sponsored job? If so , what are the prospects of going for a MBA few years down the line and then still getting sponsored? I hear getting a green card or residency is simply out of the question nowadays. That said could can anyone elaborate a little more on UIUC and Boston College: Dual Master of Accounting/Master of Finance (M.S.A./M.Fin) against the Tulane MFin? In fact really is Tulane considered a decent choice, because where I am coming from people really just know about the top 10 universities in US unless someone's done some research.

Looking forward to some responses.

spinoza · Answer

Hi

I just took the GMAT and got a 720. Have a 3 yr work experience and intend to apply for the MFin in LBS next year. Already have an MBA from FMS, Delhi and work with a foreign bank in the corporate banking division. Would be really helpful if someone could advise on the foll ques :

1) How realistic are my chances of getting an admit
2) Does anyone have an idea on how the placements in MIF have been post 2009

Thanks

chinmaykolamkar · Answer

Hi,
I have completed my Bachelors in Engineering(Information Technology) From India. However I am interested in switching domains and jumping into finance( specifically stock trading, hedge funds etc). I have taken a GMAT date and am planning to apply for MSF program in USA and Canada. I have a few questions regarding the same.

1. Is MSF the right course for me if I am looking forward to a career in stock markets?
2. Which country will be a safe choice as OPT period after the program finishes is only 3 months in USA which means I will have only three months to get a job after which I will be asked to leave. In Canada its over a year.
3. I am currently working in an IT company and no part of my profile reflects any finance background apart from the fact that I have been trading for years. 
i.Is this a reason to worry before applying to universities?
ii. Are there any courses/ Certifications that can help me get a strong profile for getting into a good university?

Kindly reply at the earliest. I have been completely confused over this from quite some time.

Thanks 
Chinmay

hamnajain · Answer

I know this is a late post but for all those who wish to do Master's in Finance, i would like to recommend doing it in University of Wollongong in Dubai (UOWD). I'm suggesting this from my own experience. There are many other streams under which you can select the Finance and Accounting Masters Degree. UOWD is an Australian based university and provide the students with both the opportunity to study overseas, and to graduate with a degree from an Australian institution.

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