MSF Advice - Senior this upcoming fall
I will be a senior this upcoming fall, majoring in Finance with a specialization in Actuarial Sciences (my school calls it a specialization, but it is essentially a minor). I attend a Big Ten university and am interested in continuing my education at a MSF program. I should graduate with an overall GPA in the 3.2 to 3.3 range, and my core GPA (including my actuarial courses) is about a 3.5. I don't have any real internship experience (my working experience is basically limited to small summer jobs, i.e. bank teller at Bank of America one summer), and I plan on taking the GMAT this summer/fall. I know all the top tier schools are basically a pipe dream, so I'm interested in applying to schools such as Vandy, BC, etc. Obviously by my major and specialization, I will have taken any necessary math and stats courses. I am also looking to one day eventually work in a risk management position, whether that be at an investment bank or in corporate finance.
Any advice as to how I should approach the application process this upcoming fall? I know the job opportunities are slim pickins for someone without internship experience, hence why I am considering continuing my schooling. Given my grades, what should I shoot for on the GMAT? Ideally, I would like to get into a program starting fall 2011.
Sorry for the long post, and thanks in advance!
Iloiled into the bc program and it sucks
1) do Vandy- it places reasonably well into regional middle markets 2) 700+ on the GMAT
Do you think given my lower overall GPA and lack of real work experience that a fall 2011 program is somewhat of a stretch? I've seen threads where some people said they have been admitted to programs (including Vandy) with similar GPAs as mine, however, their resumes include internships. Also, do you guys know anything about LSU and University of Alabama's programs? As you can tell, I'm interested in going to warmer weather climates, haha.
going anywhere except for Vandy and BC for non-quant and CMU, WUSTL, Baruch, Columbia, Princeton for quant/masters in fin maths is going to be a waste of time. especially UA or LSU.
if you want to stay in the USA, look at the programs above or a masters in accounting from a top program. if you are willing to go to europe, there are several highly regarded masters in finance such as Warwick, LSE, Oxford, Cambridge, Bococni, HEC, SSE and St. Gallen.
With your 3.2 GPA, you will need a 700+ to be considered for any of these programs- and you will be auto-rejected from LSE, Oxford and Cambridge (require a 3.5+)
I wouldn't say other programs are a waste of time. There are other programs that place very well into their respective regions; i.e.
UVA - NY Claremont Mckenna - California Villanova - Philly & NY UF - Southeast (Florida, Georgia etc.) Tulane - Texas
Try getting a BC or Vandy guy placed into Cali and you're going to run into all sorts of problems. If you look at the aforementioned programs' websites, you'll see placements have been decent and people have landed BB jobs. Some of the newer programs like UVA and Claremont Mckenna have done decent in the first year and are going to be doing great next year since they will be leveraging their network to the hilt.
To the OP:
Even if you get into a good program, your MSF alone won't get you a job. Recruiters always look at the big picture; i.e. experience, grades, extra-curricular achievements and all.
Vandy is probably the top 2nd tier school for non quant finance in US. Overall, I concur with Affirmative's take.
Villanova might be a perfect fit for your ambitions. "I am also looking to one day eventually work in a risk management position, whether that be at an investment bank or in corporate finance." ~ Nova places pretty well with IB's and F500 companies in the Philly/NYC area. Also, your profile would be competitive there as long as you score 650+ on the GMAT (I believe their class profile is something like 3.5 avg. GPA and 620 avg. GMAT).
Good luck.
Thanks for all the input. I guess my biggest concern is that my low GPA and lack of work experience may hinder my admission into a program. Do you guys think that realistically I have a legitimate shot at a program like Vanderbilt given my current stats? Also, does anyone have any info about a Masters in Quantitative or Computational Finance? I don't know much about these types of programs, how do these they compare to a MSF in terms of what my eventual goals are? Are they beneficial? Thanks again, and thanks in advance for any additional advice!
I don't necessarily think your GPA is low for admission to Vandy. I think the class of 2009 had a profile that looked like:
Avg. GMAT: 705 Avg. GPA: 3.42
Considering that your GPA is somewhere in the range of 3.3-3.5 (depending on how you look at it) and is in a very quantitative major, I think you will clear the GPA hurdle. Study like hell for the GMAT to get 700+ (maybe 720+ to compensate for lack or internship/work experience) and write solid essays and you should be fine.
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