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MS in Finance before an MBA in Finance?

perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
A one year MS in Finance degree can assist non business majors develop skills to break into the Finance industry. Lots of business schools seem to be offering these types of mini Masters programs targeting liberal arts and non business majors. Unlike the MBA, these are usually pre-experience degrees.
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Replies to: MS in Finance before an MBA in Finance?

  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    My son just got accepted to the UT McCombs School of Business, Master of Science in Finance Program.

    If you have any questions about this program or MSFs in general, feel free to ask questions
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  • PublisherPublisher 7972 replies82 threadsRegistered User Senior Member
    edited January 7
    @perazziman : What were your son's standardized test scores (GMAT or GRE) that enabled him to get into this masters program or what is the range of scores for accepted students?

    Any post undergraduate full time work experience ?
    edited January 7
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    edited January 7
    Profile

    2013-17: BS TAMU (non-target)
    GPA 3.4
    Major Economics
    Minor Math

    Capstone Research: Math of Financial Options / Derivatives (A)

    (A) grades also in Engineering Calculus Linear Algebra, Differential EQ, Probabily Theory, Econometrics Statistics etc

    AP Calculus AB/ BC 5/5

    Lowerclassmen GPA 3.2
    Upperclassmen GPA 3.6-3.7

    Excellent recommendations from Math and Econ professors

    GRE 330 (equivalent to GMAT 720)

    CFA Level 2 Candidate (June 2018)

    *No relevant work experience*. Seeking MSF to change career paths from seeking a PhD in Economics to Banking
    edited January 7
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    edited January 7
    Here is a list of 30 best MSF Programs. They are ranked from most to least affordable. MIT is least affordable, but ranks #2 in quality. UT is 15th most affordable and ranks #1.

    I would take these rankings with a pinch of salt, but they are a good place to start looking

    https://www.master-of-finance.org/best/affordable-degree-programs/
    edited January 7
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    edited January 8
    The UT Program’s average GMAT is 690. Average GPA is 3.44. Job Placement is 100%. Av. Salary is about $70k
    edited January 8
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    TFE has come out with the 2019 ranking of Masters of Finance Programs. Here are the top 65:

    1 Massachusetts Institute of Technology
    127 Votes

    2 Princeton University
    64 Votes

    3 Washington University in St. Louis
    70 Votes

    4 Vanderbilt University
    75 Votes

    5 University of Rochester
    56 Votes

    6 University of Southern California
    53 Votes

    7 University of Notre Dame
    47 Votes

    8 University of Texas
    44 Votes

    9 Arizona State University
    46 Votes

    10 Brandeis International Business School
    87 Votes

    11 University of Texas at Dallas
    82 Votes

    12 University of Florida
    28 Votes

    13 University of Illinois at Urbana-Champaign
    46 Votes

    14 Boston College
    30 Votes

    15 Georgia State University
    36 Votes

    16 Villanova University
    47 Votes

    17 Ohio State University
    24 Votes

    18 University of Utah
    27 Votes

    19 Michigan State University
    15 Votes

    20 Texas A&M University
    30 Votes

    21 Rochester Institute of Technology
    Rate this (12 Votes)

    22 University of California, San Diego
    25 Votes

    23 Auburn University
    13 Votes

    24 Illinois Institute of Technology
    27 Votes

    25 Louisiana State University
    12 Votes

    26 Temple University
    Rate this (15 Votes)

    27 Santa Clara University
    10 Votes

    28 Syracuse University
    12 Votes

    29 University of Connecticut
    15 Votes

    30 University of Alabama
    8 Votes

    31 University of Arizona
    Rate this (10 Votes)

    32 Purdue University
    15 Votes

    33 Johns Hopkins University
    45 Votes

    34 Tulane University
    11 Votes

    35 Indiana University
    10 Votes

    36 University of Delaware
    Rate this (3 Votes)

    37 University of Maryland
    Rate this (10 Votes)

    38 Florida State University
    12 Votes

    39 Claremont McKenna College
    Rate this (7 Votes)

    40 University of Colorado Denver
    15 Votes

    41 West Virginia University
    11 Votes

    42 Northeastern University
    8 Votes

    43 Pepperdine University
    Rate this (6 Votes)

    44 Hofstra University
    Rate this (9 Votes)

    45 University of Tampa
    28 Votes

    46 University of Tulsa
    6 Votes

    47 Drexel University
    Rate this (3 Votes)

    48 Lewis University
    Rate this (5 Votes)

    49 Baruch College
    3 Votes

    50 Thunderbird School of Global Management
    5 Votes

    51 University of Massachusetts Boston
    Rate this (4 Votes)

    52 University of Illinois at Chicago
    2 Votes

    53 Portland State University
    Rate this (3 Votes)

    54 DePaul University
    3 Votes

    55 Seattle University
    3 Votes

    56 George Washington University
    Rate this (2 Votes)

    57 University of Baltimore
    Rate this (1 Vote)

    58 University of San Francisco
    3 Votes

    59 Virginia Commonwealth University
    Rate this (1 Vote)

    60 Fordham University
    Rate this (2 Votes)

    61 University at Buffalo - SUNY
    Rate this (2 Votes)

    62 University of Denver
    Rate this (3 Votes)

    63 University of California, Riverside
    Rate this (1 Vote)

    64 Southern Methodist University
    Rate this (4 Votes)

    65 Bentley University
    2 Votes

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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    Here is their Methodology:

    30% Mean GMAT Scores
    25% Mean Starting Salary and Bonus
    15% Mean Undergraduate GPA
    15% Acceptance Rate
    10% Full Time Graduates Employed at Graduation
    5% Full Time Graduates Employed 3 Months after Graduation
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    edited February 1
    Please be aware that some of these schools effectively have Financial Engineering Programs not really MSF programs, such as Princeton. Also some of these schools have combined their Finance program stats with MS in Accounting, Analytics, Quant, MBA etc. For example Rochester and Notre Dame MSF programs may not be as competitive as they appear in this ranking.
    edited February 1
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    The Notre Dame MSF for example, is in Chicago where they also hold EMBA classes. It is basically a part time program. The age of an average student is 30 years.

    So this isn’t the typical pre-experience full time MSF Program that helps new college grads get into high finance. The school doesn’t share average GPA or GMAT scores for this specific program. It generally lumps them together with all its Masters programs.

    https://mendoza.nd.edu/visit-notre-dame/visit-chicago/

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  • PublisherPublisher 7972 replies82 threadsRegistered User Senior Member
    @perazziman: Thank you for sharing this information !

    Some of the information from the cite in post #4 is incorrect. For example, second most affordable Texas A&M, listed at about $5,500 for in-state master's degree is incorrect. I believe that the correct figure is over $30,000, maybe over $35,000 for residents.
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    You are welcome @Publisher

    The UT Austin tuition numbers are also incorrect 😁 They charge between $40-40k for the 10 month program

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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    edited February 2
    I’m not sure how TFE ranked Arizona State University in the top 10 (as #9)

    According to the university:

    The Av. Salary is between $50-70k. So about $60k

    Admit 66%

    GMAT 613

    GPA 3.46

    https://wpcarey.asu.edu/masters-programs/finance/class-profile

    https://wpcarey.asu.edu/sites/default/files/fastfacts_finance_2012-13.pdf



    edited February 2
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  • cbreezecbreeze 4682 replies88 threadsRegistered User Senior Member
    $60K was my son's starting base salary in investment banking when he graduated (BSc Economics with finance concentration) back in 2004. Granted that it was NYC salary but still ........
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    edited February 2
    These days base for IB Analysts appears to be around $85k to $90k. So, better MSF programs in the south such as Vanderbilt, Wash U St. Louis and UTA have Average salaries in the $70k range. In the north they are usually 10% to 20% higher

    Is your son still in IB or did he shift to VC HF PE etc.? Also was he recruited in UG? Or did he move into IB after a Masters?

    edited February 2
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  • TomSrOfBostonTomSrOfBoston 14733 replies985 threadsRegistered User Senior Member
    In the north they are usually 10% to 20% higher
    So is the cost of living.
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  • cbreezecbreeze 4682 replies88 threadsRegistered User Senior Member
    My son was in IB for 3 years before switching to hedge fund where he's been ever since. He was recruited out of UG for IB. He has not needed a graduate degree but he is a chartered CFA through self-study.
    He's been very lucky in that he didn't need to look for work; he was recruited by both his employers. Finance can be a very rewarding and highly compensated career.
    Good luck to your son.
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    @cbreeze thank you for sharing
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  • perazzimanperazziman 2357 replies63 threadsRegistered User Senior Member
    @TomSrOfBoston

    You are quite right, cost of living is lower in the south, so starting salaries in the south are lower too.

    I would be wary of MS in Finance Programs in the northeast or west coast or Chicago area with average salaries below $70k claiming to regularly place pre-experience graduates into high finance / IB Analyst positions. This is unlikely since programs in the south that place in high Finance have average salaries of $70k + such as Vanderbilt, U Virgina and UTA etc
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