MIT MFin Why so many people apply MIT MS Finance this year?

[MBrowning]

96K is a lot of money for a one year program, even by MIT standard. From 175 to 900 is unheard of.
I contacted the program's director for verification and a few more queries. Will let you all know if they respond.

The tuition is actually only $72,000. And that includes 3 terms, Summer 2010, Fall 2010, and Spring 2011. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p>
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Many other MFin programs are two years long, so the tuition seems like less, but you're just spreading it out over two years. MITs program will definitely be more rigorous, as it shoves 2 years worth of material into just 3 terms, but the price tag is actually the same if you keep in mind that at other schools you pay $35,000 tuitions twice. <o:p></o:p>
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The rest of the anticipated cost of living at MIT Sloan is very inflated (For example, they allot $5000 for the purchase of a computer).<o:p></o:p>
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So while the price may seem a little steep to dish out for just one year, I guess you have to keep in mind that you're actually paying for a 2 year degree, even though you get to be out in 1 year (which sounds like an advantage to me.)<o:p></o:p>

Source: MIT Sloan Master of Finance brochure that I got in the mail.

 

[Andy Nguyen]

Here is the conversation between Ms. Julie Strong, admission office of MIT Sloan and Quantnet

1) Do you plan to eventually expand the program another semester so students can take internship during the second semester?

Currently, there are no plans to extend the length of the program.

2) What do you provide in term of job placement, career help? What kind of jobs these graduates would be an ideal candidate?

M.Fin. students benefit from the integrated career planning and recruiting services of both MIT and MIT Sloan's Career Development offices, including skills assessment, job search, networking, resume building, and interview preparation workshops tailored to M. Fin. students, and individualized career planning advice.

Depending on the students area of focus sample careers could include: Investment Banking: Sales & Trading/Capital Markets, Structured Finance, Derivatives Research; Asset Management: Analytical Positions, Asset Management, Private Wealth Management; Treasury oOperations/Corporate Finance; Risk Management/Insurance.

3) Can one defer admission to next year? Do you require deposit once admitted? Do you have a waiting list? When do you start to release decision?
The M.Fin. program does not defer admission. We do require a deposit. We will have a waitlist for M.Fin. applicants. Decisions for M.Fin. will be released on March 1, 2010

 

[MBrowning]

Do we have a guess on how many applications they got this year?

 

[Andy Nguyen]

Ms. Julie Strong will write a guest post on behalf of the MIT Sloan Admission office about the MS Finance program.

 

[ksaroya]

has anyone received an interview invite yet?

 

[AMEM]

No, I haven't received an interview invite....at least not so far

 

[banbuzz]

MIT Mfin Interview

Hey , do we know how many people they might be calling for interview . and what will be the format of interviews ???

 

[byongsoo]

two ppl on GD have reported that they rcvd invites last night

 

[banbuzz]

whts GD ??
hey i even got the invite last night ..
but i have no idea wht will be its format ?
does anyone know why kind of interview will it be ?

 

[Joy Pathak]

GD= Global Derivative.

 

[Joe Yu]

add my name to the interview invite list too. MFIN at MIT does not seem as quantitative as top FE programs. However, I also feel that MFin students can probably benefit a lot from MIT Sloan brand name. What do you guys think?

 

[byongsoo]

i am very curious about the format as well... this is the only school i'm applying to... what are some typical interview questions i can expect in a MFin/MSF/MFE program?

 

[Joe Yu]

i am very curious about the format as well... this is the only school i'm applying to... what are some typical interview questions i can expect in a MFin/MSF/MFE program?

I think this is the first year MIT starts interviewing applicants. When is your interview? Mine is 2/16.

 

[Andy Nguyen]

Would be really nice if you guys add your timeline to the Application Tracker. That would help future applicants to get a good estimate of how long it takes.

Less stress = world peace.

 

[banbuzz]

hey ..
has anyone given the interview yet . ??

pls post ur interview exp .. will help us get an idea about the interview format.

 

[ilanitsh]

I guess it's no longer a rumor...
I've just gotten MIT's decision regarding my application. They explicitly stated that this year 900 applied for the Master of Finance program.

 

[Joe DeLaura]

Yep, I just got denied admission by MIT. Direct quote:

"Dear Mr. DeLaura:
The Admissions Committee of the MIT Sloan Master of Finance (M.Fin.) Program has considered your application and has regretfully concluded that we cannot offer you a place in the incoming class.

As you no doubt realize, the MIT Sloan School is comparatively small, with approximately 60 M.Fin. students entering each year. While our size offers advantages to both our students and faculty, it also creates an extremely difficult selection process––this year, over 900 candidates competed for the 60 places in the class. I think it is no exaggeration to say that the majority of our applicants would be good students for our program. Since we have so few spaces to offer, the problem is not only choosing academically and professionally qualified applicants, but also choosing the very strongest candidates from a field of extraordinarily talented individuals.

We realize this news comes as a disappointment. I do hope, however, that you will accept our best wishes for your success.

Sincerely,


Rod Garcia
Director of Admissions
P.S. Unfortunately we cannot conduct post-evaluative interviews with candidates we could not admit. As you can imagine, with over 900 applicants that procedure would consume almost the full-time attention of two employees. We are simply not staffed to be able to provide that service."

 

[goodstudent]

I think the main reason is because MIT's program is less quantitative than MFEs:

Do I need an undergraduate degree in a particular field in order to apply?
"No. We receive applications from economics, management, science, engineering and mathematics majors, as well as other disciplines."


That opens the door to a lot of business students who haven't taken too much math and CS.

 

[Andy Nguyen]

MIT will continue to release its admission decisions in the next few days.

If you have not added your case in our Tracker, please do so.
If you already have a case there, please update the case with decision as soon as possible.

thanks a lot.

 

[DanM]

I think the main reason is because MIT's program is less quantitative than MFEs:

Do I need an undergraduate degree in a particular field in order to apply?
"No. We receive applications from economics, management, science, engineering and mathematics majors, as well as other disciplines."


That opens the door to a lot of business students who haven't taken too much math and CS.

But MFEs also accept students (albeit a very small percentage) with undergraduate degrees in business. As long as you have the necessary math/programming courses, your major doesn't matter. Those who want to apply to quantitative programs in finance and don't have the prereqs typically go back to school to obtain them.