9 Comments
 

Apply First round to the Oxford MFE with 720, definitely improves your chances. If you have a First class degree (>3.7 GPA) or atleast an upper second class degree (>3.5 GPA) in a reasonably quantitative subject, you will atleast get an interview for the Oxford MFE. Interviews are generally tough and unpredictable, and are the ultimate decider - the rest of your application is somewhat redundant if you've gotten to the interview.

The Cambridge MPhil cares less about the GMAT (it is not a requirement, but is recommended), but literally 100% of the class has a First class degree - so I wouldn't bother applying unless you do. Regardless, no point retaking the GMAT.

You quant score would be slightly below average at MIT, but still no reason to retake it unless you have a very weak quant background - in which case I'm not sure it would make sense applying anyway, as it's unlikely that you would get in even with a Q51 score.

TL;DR: Don't retake the GMAT.

 

Thanks a lot for the comments - greatly appreciated! May I ask if you completed any of the above programs? You sound to know a lot.

If so what's your impression? Also among the above 4 what pros / cons different programs have? Heard Oxford's MFE is particularly strong

 
Best Response

I got accepted and will be attending the Oxford MFE starting in September 2014. I got a 720 on the GMAT with a verbal score and quant score identical to yours. I also have a 3.8 GPA from a Canadian University with 1.5 years work experience (actuarial). I would say that it would be useless to retake the GMAT as a higher score on the GMAT will not make a difference in your application. In terms of the interview, I can't shed any light because I was accepted without one( although I have heard a lot of people were accepted without one).

In terms of the different programs, when I was appliying my 4 (top) choices in no particular order were Oxford MFE, LSE Finance&Economics, MIT MFin, and Princeton MFin. I did apply in the second round for Oxford and because of this I was required to put a 4900GBP deposit within 30 days from acceptance (Mid december). At this point the Princeton Mfin applications and MIT Mfin applications were not even due yet and only started interviews in mid February.

I would say though that if you wait for Oxford's third round of applications, it will be more competitve and therefore you will reduce your chances there if that was your first choice ( A very good choice I might add). It might be worth it to pay the deposit and then apply to the US schools because the US schools are equally as good (if they are your first choice) and you want a guarantee for acceptance somewhere (assuming you were accepted to Oxford). .

In terms of the three programs you mentioned I would say that Oxford MFE is more applied to industry than Cambridge MPhil because Cambridge's program is more focused on research (leads directly into a PhD). Though to compare Oxford MFE and MIT would be very difficult. If you want to work in the US then you would go to MIT, and if you want to work in London, Asia, then Oxford would probably be your best bet. I did want to try and work in Europe therefore Oxford was a no brainer... Let me know whether you have any more questions

 

Thanks a lot - this is great. One question - I know you said you didn't have an interview, was your background quantitative? Something like econ / math?

 

Hi Nishika23,

How did the interview go? Hope all is good. I suppose the asked questions based on your background, right?

I took the GMAT and scored 730 (Q49, V40), but was fairly surprised to see that Q49 is just the 79th percentile nowadays.. It used to be that Q49 was around 85th percentile, and 10 years ago, it was as high as 92nd.

The MFE adcom stated that they seek quant scores of about the 90th percentile, but I hope that a Q49 wouldn't be a dealbreaker.. If they were strict on this, then only Q51 would cut it, since even Q50 is below 90th %ile now.

Would you say 720 vs 740 or 730 vs 750 make a big difference, or is the GMAT seen as a hygiene factor as with MBA apps, namely that once you reach a certain level each 10 point increment is less significant? I do nevertheless have a feeling that they put a lot of weight on gmat scores since MFE is also a pre-experience program, so that the GMAT is one of the few ways of showcasing your academic potential, esp. if no/little work exp.

Other metrics: fairly unrepresented demographics, top 10 european business school with a solid GPA (think top 10%), finance major, exchange program with a reputable Canadian Uni, solid ECs.

And one final question for the more experienced members: how would you say that round 3 differs from round 4 in terms of the admittance rate? My intuition: round 3 - stronger applicant pool, but more places, round 4 - vice-versa. Which round could be more suitable for my case?

 

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