Strengthening MSF Application
Hi Guys,
So I'm planning on going to grad school next year (hopefully) and was hoping you guys could give me some advice. I've been doing a lot of reading on the board and elsewhere but can't seem to find the information I'm looking for.
To give you a bit of background I graduated last spring (Economics) from a regional UG with no brand name or OCR. Due to extenuating circumstances I graduated with a sub 3.0 GPA.
I want to get into a top tier MSF program and was looking at ways in which to polish up my app and remove or put less emphasis on my bad UG GPA.
I know I have to kill the GMAT.
I'm a URM so idk if that helps my chances.
Should I take the CFA level 1 to show I can handle the material?
I'm also presently employed in a non-banking role (bills don't pay themselves).
My ultimate goal is banking. Mostly interested in AM or PE but IB is fine.
Any tips or pointers will be greatly appreciated.
Thanks!
First you can clarify what you mean by "My ultimate goal is banking. Mostly interested in AM or PE but IB is fine." So you want to be a banker... then go on to say you're mostly interested in stuff that isn't banking?
I'd crush the GMAT and maybe consider a certificate program to give you a second gpa. CFA L1 might be good to show you can handle the material.
IMO, at this point you're going to want a really great gmat score. Being URM isn't as huge a benefit for msf programs as it is for MBAs. TBH, being a woman is way more in demand since msf programs are nearly all male.
Definitely address your gpa and the extenuating circumstances in your essays.
Don't say this during your interview.
my suggestion is to simply look up tons of people here who are prospects, current students and graduates of MSF program.
Don't ask generalized questions such as what you've asked. Idenfity your deficiencies and Fill in the gaps.
imaseo, AFAIK within a financial institution (a bank) there are various departments. Those that I mentioned were just a few. If you consider bankers to only be those who work in IB then that's a different story.
TNA thanks for the advice. What sort of certificate programs do you recommend?
In case I wasn't clear, I'm looking for ways to separate myself from a bad GPA. I'm fairly confident I can do well on the GMAT and thus was hoping you guys might be able to point me to some other things I might be able to do help me stand out like the certificate program TNA suggested.
No
Ok fine you win. Truth is I'd love IB but it's kind of a long shot and as much as an MSF is the reset I need I'm much more likely to land outside IB.
Find an IB internship and make sure your current job is at least remotely related to business/Finance. Try and spin it as something that provides you with skills necessary to transition to banking. Most (good)MSF programs only admit applicants they know they can help find jobs. So you need to find a way to talk about how you have many of the skills one needs for IB, you just need to refine them further through the program.
I worked at a MM consulting firm and dropped my FT role to get an IB internship at a boutique firm before my MSF program begins this August.
I went to the MSF program at Boston College. It was challenging to get an interview for an IB Analyst role. All the BBs didn't want to talk to me - they just wanted a rising senior in undergrad. You will have to target MM banks and really sell the story.
It is unfortunate but a lot of people do not know what the MSF degree is. I had one MD tell me that I had effectively wasted my money when I was trying to network. He said "I've worked in this industry for 20+ years and never heard of an MSF."
Personally I think the MSF is more valuable than an MBA if you want to go to the buyside. You'll go deeper in the analytics than an MBA. I was happy with the degree, just a little upset that it wasnt as valuable in interviews as an MBA etc.
Best of luck!
It's pretty comical that a grown adult would say something like that. It's a graduate degree in finance. If someone told me they had a masters in cow shit I'd be able to figure out easily that they did a graduate degree in the droppings of a bovine.
Masters = graduate degree
Finance = subject studied
Pretty simple to get. I wonder if he has heard of a masters in astronomy or any other subject and if his lack of hearing about something would equate it to a waste of money lol.
I agree to a certain extent, but I also see why MSF can seem abnormal... because UG gets the dirty jobs, MBAs get the Associate jobs, and MSF is a stuck-in-the-middle without full-time work experiences to compare with MBAs, older and too-much-salary than UGs
Agreed. The guy had an ego. He was very senior at a large fund. When you have those meetings you just need to laugh it off and move onto the next meeting.
frattisimus101 Congrats on the internship and getting into an MSF program. I wouldnt mind dropping my FT for an IB internship but the problem is getting one. First off there are very few locally (S.FL) and with my numbers it seems impossible unless I can strengthen my resume."
@TNA" I've been looking into certificate programs and Stanford has an online Quantitative Methods in Finance certificate that looks promising. Would something like that help?"
Thanks again for all the input guys!
The only things MSF programs care about is GPA, GMAT and presentability (the latter making up for deficiency in the first two). Relevant work experience is not too important unless you're at a certain age (25+) at which point, it MAY become a factor. In order to make up for your low GPA, you're going to have to kill the GMAT and present yourself well. You're going to have to demonstrate that you're employable, motivated and flexible (i.e., one of the candidates that's NOT fixated on PE/VC/IB).
Adcoms are most worried about (a) students that pass and don't find work, damaging employment statistics and (b) students that openly complain about the program. Show that you don't fit into either of these categories.
Edited
Relevant internships and work experience are big with every adcom I speak with. CFA L1 is helpful if you have a non finance background or struggled. GMAT is important, but those class averages are squewed a lot by International applicants.
But I agree, ability to place students is a big consideration for these programs.
Esuric Thanks for the advice. I'm pretty confident that I can score a 700+ since I test well and have ample time to study. Would a certificate program like TNA suggests help to show that I am motivated and interested in finance? It would also give me a second GPA to throw on there. Or is the CFA L1 a better alternative?"
Honestly if you are absolutely deciding between the two, I would choose the CFA since it's a well known brand in Finance, is probably cheaper and will open more doors for you than say a certificate course.
That was originally my plan but since TNA mentioned it I thought I'd look into it. There are some certificates that seem pretty legit. There's one thats offered by Stanford that looks pretty good. The thing is its much more expensive than prepping for the CFA.
You don't have to actually take the CFA level 1. It's sufficient to just register for it in December. This shows interest and demonstrates that you're not completely lost. There will also be significant overlap between the material taught in the program and the content of the test (level 1 at least).
Lets just say I actually took it (CFA L1) and passed, and did well on the GMAT (700+). Would I have a shot at a program like Vandy or UVA?
Really appreciate the advice guys.
Hey Guys,
Just wanted to give you an update. I've been in contact with admins at Vandy and an admissions consultant and so far they both advised I take some quant classes. I'm signing up for Calc 2 for Fall and then Calc 3 in the spring at my local CC. You guys have any recommendations for some other quant courses I can take? I was looking at HarvardEx's STAT E-104 online but options are pretty limited when it comes to upper level stats.
Oh and the admissions consultant pointed out some fellowships I am going to try to apply to. They're for minorities though but they look pretty promising. ML4T and Toigo Foundation.
Thanks again!
Why would yOu need to take calc 3 for an MSF? And vanderbilt offers generous scholarships and fellowships to qualified applicants. Make sure to discuss this with vandy.
What are your stats?
??
Why do you need to take calc 3 for an MSF?
Don't take Calc 3 - instead take some courses like linear algebra, stats, econometrics
Well the thing is there just are not many quantitative classes available so i just assumed calc 3 would work. The admissions rep at vandy said:
"We do require students to have a significant level of quantitative training in mathematics and statistics. At a minimum, it is expected that students will have completed one year of calculus as well as courses in statistics. We do not require prior coursework in finance."
I always assumed most people took calc 3 before linear algebra. I would much rather take upper level stats courses but i cant find any. I took basic econometrics for my BA. The thing is I want to take a solid 3-4 classes and Id want them to be quantitative so that theyll carry some weight with adcoms.
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