HELP! Claremont McKenna vs. MIT (MFin)

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I recently was admitted into both programs!

CMC has amazing career resources but MIT has the "Ivy League Prestige." Assuming money isn't the issue, which program would you take?

I'm mainly looking to get into either banking or consulting (with corp fin as a back-up)

Comments (32)

 
Mar 22, 2013 - 10:39pm

MIT. no question

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."
 
Mar 22, 2013 - 11:58pm

In terms of student profiles both schools seem very similar: 10% admissions rate, 730 GMAT, etc.
*MIT has a higher average GPA but that could be due to a "softer" conversion from all their international applications.

CMC: http://msfhq.com/claremont-mckenna-master-in-finance-update/
MIT: http://mitsloan.mit.edu/cdo/employment-reports/current-reports-mfin.php

Why would one be significantly better based on such a similar class in terms of stats?

ANT, feel free to chime in :D

 
Mar 23, 2013 - 12:18am

MIT is a household name in the IB community. Not to mention they have a fantastic placement record for IB/trading/quant. It will take you further without a doubt.
As for comparing the class profiles, it is irrelevant. Instead, focus more on the employment statistics and post-graduation networking/opportunities that a program offers.
Congrats on the offers.

 
Mar 23, 2013 - 12:43am

humble_dude:
MIT mostly quant/trading, not much in IB, actually very few.

From what I heard it's practically impossible to break in at the bulge bracket level with a MFin from either school because the BBs are going to be filling 90% of their FT positions with their own summers and the rest of the 10% will be SAs from other banks looking to upgrade (BAML SA -> MS FT)

 
Mar 23, 2013 - 8:37am

CREDO:
humble_dude:
MIT mostly quant/trading, not much in IB, actually very few.

From what I heard it's practically impossible to break in at the bulge bracket level with a MFin from either school because the BBs are going to be filling 90% of their FT positions with their own summers and the rest of the 10% will be SAs from other banks looking to upgrade (BAML SA -> MS FT)

This is not accurate at all. First, both of those schools are targets. Second, sure 90% of FT classes are filled w/ SA's, but the following 10% aren't just reserved for those trading up, wtf?

'Before you enter... be willing to pay the price'
 
Mar 23, 2013 - 2:54am

MIT MFIN 2012 Employment Stat:

Job Acceptances by Functional Area
Consulting 18.0%
Finance: Sales & Trading 18.0%
Finance: Analyst 14.0%
Finance: Investment Banking 14.0%
Finance: Investment Management 12.0%
Finance: Other 10.0%
Finance: Research 10.0%
Leadership Development Program / General Management 2.0%
Other 2.0%

Seems like you'll get a decent chance for consulting and IB. Not sure where you got your info, but MIT MFIN is considered one of the elites among these types of programs.

 
Mar 24, 2013 - 9:36pm

Go with MIT. I absolutely love Claremont and the program they have is top notch, but MIT is simply a household name. If you are 100% married to only West Coast and you went to a target undergrad I might say CMC, but otherwise MIT is your best bet. The brand will carry on long after you are done and it will help you more later on in your career or when you are applying to grad school.

 
Mar 24, 2013 - 10:19pm

I don't know what people are telling students, but I know people getting banking jobs from all the MSF programs people talk about. The thing is not everyone will get a banking gig, but that goes for every school and program. People need to be realistic about their work ethic, resume, interview abilities, etc.

 
Mar 24, 2013 - 11:01pm

TNA:
I don't know what you are talking about CREDO. CMC and MIT both have bulge bracket placements. As does Duke, UVA, etc.

CMC and MIT both have Bulge Bracket placement (MS/GS/JPM etc.) but they are not for banking. I know CMC has placed people into BB banking before but that's because their program starts in August so those kids did their SA with that bank.

MIT, on the other hand starts in July, and most of the students I've talked to said that you practically had no shot at getting the FT offer since most banks don't even come out to recruit for FT. They only come in November for SA recruiting and a one-year masters disqualifies you for that.

 
Mar 25, 2013 - 12:54am

http://claremontmckenna.edu/mastersinfinance/career-management/placement-information/

So Goldman and Credit Suisse are not bulge bracket? You have Cowen, Houlihan, Harris Williams, all in banking. You have Wells Fargo in commodities and Citi as a trader.

I don't know man, those placements look really good to me. I mean listen, if you think it is impossible to get into BB banking then you should reconsider going to either program. I'd also suggest you open up your mind to other banks and opportunities. Beggars can't be choosers my friend and if you are considering an MSF then by default you don't having a banking gig.

Personally, I wouldn't want to work for a BB bank. With the layoffs, the scrutiny, the regulation, etc, I would rather work at a true investment bank without the depositors to deal with. But hey, that's just me.

IMO, go with MIT and be happy with it. Have an open mind to more than just bulge bracket investment banking and you will be fine.

 
Mar 25, 2013 - 10:29pm

For those of you PMing me about my stats:

West Coast Target
3.7 GPA (STEM major)
740 GMAT
2 years of on-campus research under a well known professor
Taking Level III of the CFA this June

But at the same time, I'm an undocumented immigrant (lived in the US since 2nd grade)
Graduating after only 2 years because I didn't have access to financial aid (until this semester, but the amount is still very small)
Landed an SA position with a top BB but was rescinded because I didn't have a SSN

Under the Dream Act, I applied for my green card in 2010 and I'm finally expected to get it this coming May

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