MSF Program Advice/Information
Hello Everyone,
I am exploring MFin options and was wondering if anyone had useful information/advice on which programs to recommend I explore. I graduated in 2018 and worked in insurance/PWM for a year at a F500 before transitioning to a smaller insurance firm. I am looking to use my degree to go into private banking in New York. I graduated from a good (semi-target) school with a degree in political science, GPA was not great (3.1) but showed upward improvement over my last two years. If anyone has any useful information please send it my way. Thanks.
RamsesII, sorry there are no responses yet. Maybe one of these topics can point you in the right direction:
Fingers crossed that one of those helps you.
The FAQ is a great way to get started: https://www.wallstreetoasis.com/frequently-asked-questions/education#fa… Make sure to go through all the links b/c they have lists of schools and programs.
The key part of MsF programs is that they can be 1 year or 2 year, with the 1 year programs generally for people with 2yr work experience, and those with >2yr work experience ineligible to apply. The 2 year programs are a lot more like applying to a traditional Masters program. I don't want to paste links to external websites, so just search "2 year masters in finance" to find lists of programs.
If you really want to apply, then crank out that GRE or GMAT now, especially since applications for all the MsF programs are already open. There are usually several rounds, but you already missed the best round in Jan. You only have Feb and Mar rounds remaining. For domestic applicants the application season usually runs from Nov (early decision) to Jan-Apr.
Ultimately, you need to have a good vision of where you want to be if you are going to spend 50-100k on this degree. They are usually used as a second chance for people who were unable to break onto wall st during undergrad. The 1 year programs sometimes prohibit business majors, so they are more geared to people trying to switch careers.
Since you already have 2 years of experience and likely are no longer eligible for most 1 year programs, and you haven't said if you've taken GRE/GMAT yet, you might want to consider working for another 1-2 years while studying for GMAT, aim for that 750 GMAT, and apply for MBA. Its a lot of $$$ and income lost to do 2 year MsF, get to wall st, but realize after 2 years you still need MBA.
How set in stone is the 2 year requirement for most 1 year programs?
I'm seeing several programs that run for 1 year requesting 2 years work experience at a minimum, Chicago MSF being an example.
This post will be in in reply to both of your posts above. The short answer is that MSF programs are cash cows for the school, so if they have empty slots to fill, they will still accept you even if you don't meet the exact work experience requirements (whether too much or too little), as long as you are otherwise a very strong candidate.
I know of someone who got into a 1 year program having greater than the maximum work experience.
As another example, say hypothetically there is a program that has maximum 2 years work requirement. Depending on your background, you can also say you worked less than 2 years and use the optional essay to explain your special circumstance of why you didn't start FT immediately. This is not uncommon since the country is full of fresh college grads who don't find a job for months.
Also, internships generally don't count towards years of work experience (because a senior applying to enter the program immediately after graduating is considered 0 work experience), but you would have to double check each program's description to make sure. Some schools also count work experience as the number of years you will have had by the time you enter first day of classes, but no general rule.
Regardless I would recommend you write the optional essay for every program since your GPA is a little low, but at least not 3.0.
Since you came from a semi-target, you have a good chance of getting "upgrading" to T2 university, but only if you get killer GRE/GMAT (90th percentile) which is very doable if you start studying now. It also depends on writing great essays, which you have time to prepare for also.
Good luck!
Current MSF (semi-target) student here. I'd say your undergrad matters quite a bit if you can't get into those super quant programs (think MIT, NYU math, Princeton, UChicago). Those top programs basically get hired right out of the program into quant role (S&T, derivatives...). The semi-target programs has to network like crazy to get semi-quant jobs.
I know quite a few alums got into rating agencies and small structured products shops but only a few got into BBs every year. I would definitely suggest you explore what function you want to get in after the program. If it's pure-finance, then I wouldn't suggest. Classes are not too different than undergrad finance courses. But if it's the quant functions that you want to get in, then definitely start polishing your programming skills.
How much experience did you have when you applied? I have 2 years (graduated May 2018); I want to wait until this fall so I can apply round 1, also since I don't have GRE yet. If I do that I can graduate by the time i'm 25. Did you intern the summer before you applied?
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