# MIT MFinMIT Master of Finance Employment Statistics?

#### PennyLess

##### Active Member
Does anyone who has attended an information session for MIT's master of finance program, or one of those online chats, found any information on employment statistics for the class graduated in June 2010?

I believe a lot of people are curious about this as well. With a tuition rate much higher than schools of equivalent ranks, MIT should have some convincing statistics to support the tuition charge. Has anyone attending an information session raised the question?

#### alain

##### Older and Wiser
With a tuition rate much higher than schools of equivalent ranks, MIT should have some convincing statistics to support the tuition charge.

Why? They don't owe a job to anybody. They don't have to publish this piece of information, and they can charge whatever they want. If you want to attend that program that's what you have to pay. If you don't like, there are plenty of choices.

if a lot of people are curious, guess what? they could remain curios or pony up the money to find out by themselves.

#### DominiConnor

I have long since lost faith in the numbers emitted by any MFE program which bear a curious resemblance to ads for cosmetics.

#### achilles

##### Active Member
I have long since lost faith in the numbers emitted by any MFE program which bear a curious resemblance to ads for cosmetics.

Could u plz explain it further Dominic.
are those numbers false ?? or do they include the year end bonuses ?

Why? They don't owe a job to anybody. They don't have to publish this piece of information, and they can charge whatever they want. If you want to attend that program that's what you have to pay. If you don't like, there are plenty of choices.

if a lot of people are curious, guess what? they could remain curios or pony up the money to find out by themselves.

I dont think this post is of any relevance to anybody other than ur intention to take on a new member. :p
Ofcourse, they can choose to hide their facts as long as they desire to. But its obvious to reveal some gud facts to buttress their new program and the associated 'highest' fees .

Anyway, most of them accept the fact that any day its "The MIT " (the number of applicants last yr supports the fact ) and it just boils down to one's ability to pay the tuition, (after being accepted !)

##### Well-Known Member
Dude, MIT is providing a $100 K loan to ALL the DOMESTIC and INTERNATIONAL students with NO CO-SIGNER and NO COLLATERAL REQUIRED. Therefore your risk is basically zero. If you do not get a job, you can just get on an airplane and fly back home. They are 100% confident that they will get you a good job once they admit you. They are also 100% confident that all the students whom they admit will repay their loans. They also provide a similar loan of$180K to ALL the MBA students.

YOU CANNOT POSSIBLY GET A BETTER DEAL THAN THIS.

If you knew what an alumni network Sloan School of Management has on Wall Street, you will not ask such a foolish question about jobs. They are even better alumni network than UC-Berkeley and CMU.

#### DominiConnor

Could u plz explain it further Dominic. are those numbers false ?? or do they include the year end bonuses ?
I believe that programs massage the numbers to look good.

I'm not sure that Traderjoe is quite right that a 100K loan can be seen as risk free.
But...it is a strong signal of their confidence, sort of.

They are in effect lending to themselves, and the marginal cost of a student is very low.

In my view the most economically efficient way of funding professional education is by equity, not debt. The school takes X% of your pay, which means if you fly they do well, but if you bomb, then they don't.

Why is that superior to debt ?
Area under the curve...

It gives an incentive for them to ensure that you have a good career, not just a first job.
TJ cites the case of some schools that have excellent alumni networks, as part of what I think of as "after sales care". I've elbowed my way into running a chunk of my old college alumni network and it's hard work, but until I started we pretty much didn't have one at all.
The CQF works on a 'lifelong learning' principle, where you can sit in or new or old lectures years after you finished. Doesn't cost anything, so why do so few MFEs do it ?
A good example is the recent recession. Some people found themselves with skills that were focused upon business areas that were both bad and likely to stay bad for a while. An equity model of education would provide a powerful incentive for a school to suck these people back and help them retool. That ain't expensive when you're teaching the next batch anyway.

Incentives in the tails.
For many reasons, some people struggle, and having a financial interest in their whole career will provide an incentive to help them. Some places take a sink or swim view even during the course.
Also, some will become very rich, which makes punting excellence very lucrative.

Equity is less of a burden to the student.
At (say) 1% of income, it won't destabilise your finances at the start of your career, and is low enough that few will try hard to avoid it.

Content of Course
A common complaint is that the syllabus is stuffed with pointless junk.
But a newbie simply isn't in a position to judge that very well, I'm 48 and use things that I thought were pretty marginal when I was taught them. I don't believe many MFE lecturers teach stuff that they believe to be useless, but also that many don't try all that hard to seek out useful things either.
There is a trust relationship in education. When I tell people that learning econometrics is more useful than real options, they often literally have no other plausible source of information. I therefore have an obligation to research that. Hence you will find comments from me from 6 years ago that C# was a pile of shit that existed only because Microsoft wanted to screw with the Java bandwagon, and that it would quietly disappear. I now consider it a viable choice in which language to learn, not as good as C++, but easier.
Providing an incentive to keep the curriculum up to date and making informed bets on what areas will be valuable is good.

#### PennyLess

##### Active Member
I went to the online chat and I asked about placement: They said it will be published next month and that so far only about 3 persons have not yet found positions. They also said the career guy will be on the next chat to clarify the data.

Thanks, helpeye, for the info. Out of a class of 60 people, if 3 people still haven't found jobs since graduation - that's a 95% placement rate 5 months after graduation. Good luck with them paying back the 100k loan if they have taken one. However I believe the MIT Sloan name will still pay off in the long run for them.

#### marina

##### Well-Known Member
Does anyone know what percentage of the international students will take the \$180K loan, and then go home immediately after they get the degree? This seems to be a very high risk which these universities are taking by giving out these loans to the international students with no co-signer and no collateral required.
Why do you want to know? Are you going to bail them out?

#### Andy Nguyen

##### Member
All of this talk makes the loan seems like a pile of cash waiting for the students to pick up. Why do you think it's easier to secure this loan than say for Americans to get a loan from their banks.

Students must meet MITFCU underwriting requirements as well minimum credit score criteria to be approved for a loan.
Until you go through the paperwork, you don't know what the requirements and criteria are.

#### marina

##### Well-Known Member
All of this talk makes the loan seems like a pile of cash waiting for the students to pick up. Why do you think it's easier to secure this loan than say for Americans to get a loan from their banks.

Until you go through the paperwork, you don't know what the requirements and criteria are.
In countries like India, there is no Credit Score. What criteria will they use?

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