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Undergraduate needs suggestions/help!

SPH

Joined
11/5/10
Messages
8
Points
11
Hello everyone! I am new and delighted to be here.

I will provide my stats and then move on to the specific questions:

-I go to a state school in the United States
-I have an average GPA 3.4-3.5
-I am an Accounting and Business Economics double major
-I have had 2 finance internships (local firms)
-I have one accounting internship (fortune 100 company) I am working at part-time

Currently I am in a dilemma. I have not been able to get job offers from any accounting firms (most probably due to my weak GPA). I had an interview at a bank however I got rejected. Right now I do not know what to do, I am lost, confused, frustrated.

Now that we have the sobbing story out of the way, I want to know my options. I am looking at masters programs in finance and accounting. I am interested more in the finance/economics side.

I also have yet to take my GMAT.

I would like advice on the necessary steps I should take regarding the Masters in Finance programs. I am obviously keeping the Masters in Accounting program at my current school a back up if I don't get into a Masters in Fin program. However the Masters in Fin is my first choice. I am interested in learning about financial analysis, investments, valuations, capital markets in general, etc. I would like a job in anything that relates as well :)

1) Is a Masters in Fin a good choice for a person with my background?
2) Which Masters in Finance programs should I be looking at?
3) What kind of GMAT score should I target for those programs?
4) Can a Masters in Accounting get me to where I want to be as well?




Sorry for the long read. Any help and guidance is very appreciated! I can also provide a resume in Private Messaging if you want to see it.

Thanks.

I hope I posted this in the right forum (even though I only see MFE threads). However if I am wrong, then please delete this.
 
Thanks for the link, so far I have found the Villanova M Fin program which seems to be perfect for me!!

Are there any other M Fin programs that I may have overlooked that would be great for me?

And also, am I doing the right thing by wanting to pursue an M Fin despite my background?

Thanks!
 
I think the first step would be to establish a clear career goal. MFin/MBA/MFE are just means for your goal. Without a clear goal, we can waste lot of time and money.

what have you learn during your internships. What part of it that you enjoyed/hated most?

This site specializes in MFE degrees but there are certain overlap between MFin programs so it's not always a clear cut on which degree is best for you.

Anthony who run msfhq site is also a member here and he helps out with MFin question. A Villanova student to boost.
 
Andy-Based on my experience/research done so far I have my eyes on Capital Market analyst positions at banks. I found the following description to be 100% accurate on what I am aiming to do as I was browsing through bank websites:
* Developing and maintaining financial models
* Creating various financial analyses, including valuations and merger consequences
* Performing comprehensive and in–depth company and industry research
* Preparing presentation and other materials for clients
* Participating in due diligence sessions and client meetings
* Communicating and interacting with deal team members and clients

I hope this is more clear.


However just like any sensible person, I do not want to limit myself to one field (aforementioned) given my average background. This is why I am looking at the Masters in Accounting program.
 
Hi Ken,

I realize there is overlap between MFE programs and M Fin programs, however I am only talking about M Fin programs. I do not even have the proper math background for MFE programs.

I want to start a career that will let me focus on getting experience and knowledge on capital markets, equity/debt investments and economic and financial information analysis for developing/undeveloped countries (Private Equity and Asset Management: This is my long-term goal).

Of course I am just being general here. So I want to start by finding a job that I have described in my last post. And to find a job, I am looking at M Fin programs that will tailor to my interests and help me get to where I want to be.

I know an MBA requires several years of work experience to be truly valuable however I need to have a way to get this work experience.

I probably sound like I am completely lost right now. I just need some guidance to get me on the right track!
 
MFHQ

Honestly, I was in the same boat as you, our goals are pretty much the same in what we want to do short-term and long-term. I played around on the MFHQ site for about 2hrs and it provided me with all the information I needed to know about MSF programs, such as what I should look for in a program, the admission stats, whether it a MBA, MSF or a hybrid program, etc. I even found out something new about my interest. Very impressive site I may add and I would definitely start there.
 
Thanks for the tip Neuron. I am quite fond of the site now!

May I know what kind of approach you took after your undergrad as far as the kinds of jobs/programs you pursued?

Thanks
 
SPH, I know dozens of people in private equity and sit on my firm's investment and valuation committees for this business. I am unaware of any quants among them. They are all very smart but all have very general business backgrounds. A masters degree in finance does not provide optimal preparation for this.
 
I'm not an expert but I dont see anything wrong with your background. I do agree that you need a clear goal in mind as to what you want to do post-MFin. I came on this site a few months back in a similar situation so PM with any questions you may have.

But Anthony is the expert and has been a great help.

Villanova, from what I have read and heard is a great school. But Anthony advised me to determine where I wanted to work following my MFin, because they are quite territorial. So something to bear in mind.

You should look at schools like Boston College, MIT (they've extended their deadline), WUSTL, UIUC, Claremont, Duke's MMS is damn impressive and my first choice, Vanderbilt.

All these schools have great placement rates.

SPH said:
Thanks for the link, so far I have found the Villanova M Fin program which seems to be perfect for me!!

Are there any other M Fin programs that I may have overlooked that would be great for me?

And also, am I doing the right thing by wanting to pursue an M Fin despite my background?

Thanks!
Click to expand...
 
Ken,


I will keep that in mind as I continue doing more research.

What do you think I should do as a senior in undergrad to prepare myself to be one of those people who work at your firm?

The main purpose an M Fin/MSF degree for me is to break into the industry as an analyst. Get the work experience I need and I assume (as you said) earn an MBA.
 
Obviously this is a sample of one, but an old high school and college acquaintance of mine works for a large PE firm, and he does happen to have a PhD in math. But what actually got him into that line of work is a few years in a consulting company, and then--and most importantly--several more spent working for an energy company.

As far as I can tell, what's useful in PE is knowledge of the business in particular and a good grasp of management practice. That means experience and horse sense are needed, in addition to just being smart.

A lesson I might suggest from the thumbnail above is that the best path into this field might not lie via finance at all, but instead through work in the "real world," where you gain firsthand knowledge of a specific market area you find interesting.
 
The advice on here is golden! I just hate how naive I sound right now, hah! The problem is I have been too structured with the way I think. I have always wished to open up more doors for myself, discover ways to stand out from the rest of the crowd, pursue different things from the rest of the class, etc.

At the same time, I have just doubted myself constantly which is no good.

I think I am slowly narrowing down my career goals and focusing on what I truly want to do. I think the masters program sounds like a great start!
 
Wow, I've be away celebrating Diwali and look at all that I miss.


MSF degree basically serves 3 purposes.

1) Re-branding with a finance focus
2) Another shot at recruiting if you couldn't get where you want in UG
3) A graduate education in finance, the subject you should be passionate about


Princeton and MIT are really the "premier" schools at this point. Princeton is amazing, but you really need almost MFE level math to get in. MIT is not as stringent in the level of math you need, but both schools get deluged in application so be prepared for a battle.

Outside of those schools you have strong regional schools with pretty good brand names. Villanova (Philly, NYC) , BC (Boston, NYC), Vandy (Down South, NYC), Claremont McKenna ( Cali), Purdude, UIUC, Ohio State (Midwest, Chicago).

All of these schools will require calc, econometrics, stats, stuff like that, Some math, but nothing like in a MFE program. Some schools offer specialized tracks, but most will give you applicable finance knowledge. You will learn how to do a DCF, LBO modeling, financial statement analysis, portfolio analysis, derivatives, etc. Some are more trading focuses (Tulane).

This is what I mean when I tell people to decide where they want to start their career and also decide what they want to do.


As far as PE goes, most likely you would want to start in banking and progress into PE. I am extremely familiar with Villanova (went there and I know all the alumni, etc) and I can say out of the 80 alumni we currently have, maybe 5-8 went directly into PE. About 10-15 are in PE right now, but they did the normal Banking--> PE route. You really have don't bring a lot to the table directly out of school to go into PE.


Now there are 3 schools that are outside of the MSF realm, but people look at them and use them as spring boards for banking just like they use the MSF. These include Duke, UVA and Wake Forest (more UVA and Duke).

Duke's MMS is really shaping up and after speaking to a bunch of their representatives and some former and current students my respect for the program has grown. I still think it is ideally suited for people with an engineering or liberal arts background. That being said, business students will find value in the program. Do realize that if you are hardcore into finance you will not have that tight knit group like you would have in an MSF program. The Duke name is pretty alluring though.

UVA's program is top notch. Total respect for it. It is also tough to get into because you cannot have a business UG and you have to go right from UG to the program. That excludes you.

Wake Forest has been around for a while and they offer the Masters in Management. Take a look.


Your profile (sans GMAT) looks good and I would say you are competitive for all the programs (except MIT & Princeton). If you school high enough on the GMAT MIT might be in range, but you don't have the math for Princeton. If you want to work in NYC I would look at Duke, Vandy, Villanova and maybe BC. BC is a great program, but I think it really is Boston focuses with asset management as the exit. I am still trying to talk to some BC admins so if you are reading this PM me.


I have contacts at most schools so PM me or ask on here and I can give more info.
 
Anthony-Thanks so much! You have been a big help! I see you are very active on promoting the M Fin program which is always a great thing.
I will definitely keep these programs you have mentioned under consideration. This will all depend on my GMAT score however and I do intend to really go at it this winter break.

My concern however is with deadlines and meeting them. I know I can find this information out on an individual basis for each university. But I am planning on applying to these programs in January! I hope it will not be too late.

My other concern is with work experience which I will not have any of when I am planning to these programs. Will this negatively affect me?
 
With exception of Princeton and a handful of other MSF programs, WE is not required. Having internships will be a good thing and having 1 year of WE will help you out.

Many schools offer rolling deadlines so I would start studying for the GMAT and begin filling out grad applications. Many schools will let you submit your app without the GMAT and as soon as you get the score you can let them know.
 
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