MSc Finance application process (HSG, RSM... where else?)
Hi guys, I'm new to this forum, therefore I introduce myself. I'm a recent economics graduate from Italy. As I'm currently in the grad school application process for MSc's in Finance, I would like to discuss some concern with you.
First, my profile: 22 years' old. Bachelor's degree in economics from non-target university (final grade 105/110 and grade average of 26,5/30 according to the Italian grading system). Top grades at finance-related subjects. No work/practical-experience except a curricular internship at a local company. TOEFL 103 (R 28; L 27; S 23; W 25) GMAT 640 (Q 43; V 35; AWA 5.0) Looking for MSc programs in finance in Europe and either 1 or 2-year in lenght, but preferably the latter (since I have no work experience and I might decide to return to Italy in the future; in this case a 2-year program would be the only way for my degree to obtain fully recognition in my country); the cheaper the better, but I'd be willing to spend more for a valuable degree in case it's really worth it.
Not the best profile and my GMAT is currently on the low side. From my point of view, and from what I've learned on this forum as well as on other sources, RSM (Finance&Investments) would be the among the best choices, given the first-come-first-serve admission policy, my low GMAT, the lack of work exp and the good overall placement. However, it is a 1-year program and I know that there are obviously programs out there that place much better. Plus I still have some time before the deadlines expire for 2017 income.
Therefore I'm considering retaking the GMAT in one or two months and trying to get into more reputable programs. HSG, and maybe Imperial, Warwick and Bocconi are on my list, but HSG would actually be my top choice in this case for many reasons. I know it's hard to get a serious improvement on the GMAT (at least 720) in such a short period of time, but I want to try anyways. I'm just a little bit concerned about the placement after St. Gallen given the fact that I will have only 1,5-2 years to learn German language at a high level. It does seem to be a great program, but I'm still wondering if it's worth it to keep studying hard to get a high score on the GMAT or if I better stick with RSM or look somewhere else.
Where else should I apply?
I really appreciate any advice you can provide.
Retake the GMAT sooner rather than later. Currently you're scores aren't good enough for HSG (website says you need a minimum of 680) and Bocconi's 3rd round ends Feb 28 (not sure how it works at Bocconi but I assume later rounds are harder to get into). I also don't think your scores are good enough for Imperial (their website says average GMAT is 700, also deadline is Feb 23).
If you can, retake the GMAT in a few weeks so that you can apply to HSG and Warwick quickly (both are rolling admissions). If you're not confident in your GMAT ability consider taking the GREs to see if its a better fit. Retaking your exams in a few weeks also gives you one more shot at it if you're scores still aren't high enough.
If your scores improve also consider applying to LSE Accounting and Finance. A huge improvement would be needed for LSE MSc Finance, but their Accounting and Finance program is a bit easier to get into.
Thanks for your reply,
Unfortunately the TOEFL cutoff at LSE is 107. I got only 103 and it took me three attempts to do it as I started studying with a relatively poor level of English. I committed myself to study hard and do any possible activity in English with severe time constraints and so I eventually got my score, but I don't really think I can score more than that.
I will retake the GMAT soon. Just a question: how do you foresee Warwick and Imperial placements in the near future given Brexit prospectives? Considering that those programs are very costly I want to make sure not to waste my money in case I get into one of them. That's why I'm wondering whether or not St. Gallen can be a better choice. Moreover, it is indeed true that the minimum at HSG is 680, but I think that in order to have good chances I will have to score 720+ given my profile. Am I wrong?
You didn't mention RSM. Can I ask you why? I heard different opinions about it, looking forward to hearing yours as well. The school is highly ranked but I know rankings can be misleading. Is it very far from HSG, Bocconi, SSE and other continental Europe schools?
If you have any suggestions, I'm open to hear them. Thank you again.
Imperial places very strongly in London, I have no idea what the outcome of Brexit will be but I think that Imperial will continue to place strongly in London in the future. Also, if Brexit occurs and you aren't authorized to work in England - studying at Imperial will give you six months after graduation to find a job in England as an international (under current Visa agreements international students of Bath, Oxford, Cambridge, and Imperial get 6 months to find a job. International students of other schools only get 3 months).
Warwick employment reports also show that the school finds jobs for most of its students, and I know that there are a few Warwick alumni in different banking functions. The school seems well regarded in England, but I don't know if Warwick is recognizable outside of England.
In short, if you'd like to work in England, Imperial and Warwick are both good schools to be at but Imperial is better and safer.
As for HSG, they have a scorecard on their website that tells you how they grade different parts of your application; the score card basically tells you whether or not you will be admitted. They have scores for GPA, motivation letter, GMAT/GRE, and extra curricular. Find it on their website and calculate your projected score to know if you'll get in or not.
Sorry I don't know anything about RSM. In general though, its usually best to study in the country that you would like to work in because it makes networking easier.
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