IE MASTER IN FINANCE ACCEPTANCE: SHOULD I ATTEND???

[Isaac Kinsy]

I WAS RECENTLY ACCEPTED FOR THE IE MASTER IN FINANCE PROGRAM IN MADRID, SPAIN.

SHOULD I ACCEPT?

CONSIDER THAT I MAY EXPECT AN OFFER FROM DARDEN FOR THEIR MBA PROGRAM.

 

[tentop]

HI!

Congratulations!! Well I think it really depends on your experience and what you really want out of a program. If you're someone with substantial work experience, then MBA looks more attractive in my opinion. I know that IE has two finance programs, one for experienced professionls and other one for fresh undergrads. So which one did you get accepted into? Also if you don't mind, do you mind sharing your profile. I'm also thinking about applying to IE master in Finance program.

thankz

 

[Isaac Kinsy]

Hello tentop,

Thank you! My Resume is attached to profile my professional experience. I am also applying to the Darden and Cornell MBA programs.

I applied for the Master in Advanced Finance program, but was accepted for the Master in Finance program. I am of the opinion (for very good reason) that the typical accepted person for the Advanced Finance program has about 5 years of substantial experience (even though the application requests a minimum of 2 years). Fortunately, the Finance program is almost the same in course structure as the Advanced Finane Program with the exception of a few courses (which is why the Advanced program is two months longer). To make myself standout, I would take courses in SQL, Java, and C++ before enrolling to become proficient in developing programs related to financial derivates, and the like. Plus, I would work extremely hard to leverage these skills to secure an associate level position upon graduating.

Based on my experience outlined in my resume, do you think the IE Master in Finance or a Dardej MBA is more attractive for working in international markets?

Also, if I did go the Master in Finance route at IE, then I would still eventually go back to school for an MBA, but for a one-year program at IE, INSEAD, or LBS.

 

[tentop]

Hey Issac,

Thanks for sharing your profile. Well looking at your work experience, I'm not so sure how much you can gain from an MBA. Unless you have well mapped out plan i would think twice. But if you are really set on doing an MBA and the point really is to bypass analyst postions and onto Associates, then you should also consider applying to one year MBA programs such as ones IE and Insead offer. Those programs while being less traditional, have a great global brand and are specifically geared towards working in international markets. Another observation that might give you something to think about, it seems that you're interesed in the quant aspect of finance (ie. deriv, programming), if thats the case you should consdier applying for Financial Engineering programs. There are some good ones in the US that are not too difficult to get into as long as you have the necessary coursework.

In terms of Masters in Finance, since you're seeking beyond entry level postions you should look to apply to programs that have a good mix of entry level candidates and experienced professionals (ie. LBS, LSE, Oxford). That way you'll have a shot at an associate postion coming out of a Masters. The Master in Finance at IE seems geared specifically for entry level positions, ie. analyst. So not sure how that would work.

These are just my opinions and frankly I don't know much about the IE master Finance program. I do find it a little odd that there isn't any mention of the IE program on online discussion about top Master Finance programs. Maybe you can share your opinion on the IE finance program and its job prospects. Also, if you don't mind sharing, did you take the GMATs for IE and what did you score?

 

[Isaac Kinsy]

Hello tentop,

Thanks for your advice. However, I have decided to not apply to any more programs (other than the ones I previously mentioned) this year. I am satisfied with the choices I have made. However, I think the same issue of getting an analyst versus associate position may occur for me because of my age, which is typically brought up in my interviews (I recently turned 22). I have accomplished quite a bit in my career for my age, thought I believe I could still get an associate position out of the IE Master in Finance program if I were to start networking yesterday. And as I mentioned before, I would become proficient in C++, SQL, and Java programming as it relates to finance before program start date. For me, it is easy to get an interview; the challenge is convincing a hiring manager why I should get a job over more seasoned applicants.

And regarding the IE Master in Finance Program, although it is not marketed as a financial engineering program, the program includes Financial Programming courses for learning C++, MATLAB, and Visual Basic; and it does include programming for derivaticves (I learned this from an IE representative).

I also found it odd that there was no mention of the IE program. However, the forums list of top programs are all American.

The career placement report is attached. Top firms recruit from the program, including UBS, Nomura, and Satander. The average starting salary is low (mainly because most of the graduates are analyst), however, job placement can be largely increased by a person's ability to network and persuade (two things I do very well).

Overall, I believe the IE program is very great in terms of course structure, exposure to professionals from top investment firms, faculty (most of whom are practictioners and graduates of top universities). The program also offers a cultural and linguistic education; student can choose to learn Spanish during the program and take intensive Spanish language training during the 2 months prior to program start date (which I plan to take advantage of (yes, I am ending with a preposition)). The backdrop of Madrid is a draw to many students outside of Europe, including myself.

The career statistics leave much to be desired. Though this can be easily circumvented with determination; I was able to start my career at 20 with a degree from a "crappy state college". And I know several persons whom graduated with me who got job offers at Lehman in I-Banking, GE Real Estate in financial analytics, and Citi in Derivative Analystics, despite attending "a crappy state school" and earning lower than a 3.5 GPA. It is possible, and my career is also proof to that fact.

And regarding my GMAT score.......620! It is not great by no means. But consider this, my application has to be super strong to pull the attention of Admission Officers from IE, Darden, and Duke!!!