Earlier this week, MIT Sloan School of Management announced two changes to its Master of Finance (M.Fin) program: an additional round of admissions with an application deadline of March 15, and the availability of partial tuition fellowships for a select group of highly qualified candidates. The moves are in response to growing student and industry demand for the specialized degree.
Launched in 2008, the intensive one-year program prepares students for entry-level positions in corporate finance, capital markets, asset management, research, government, and financial engineering. In its first two years, the size of the program more than doubled from 26 to 59 students. The Class of 2013 will have about 120 students. The first two round application dates were November 1 and January 4.
“In this tight employment market, recruiters are looking for job candidates with technical training and state-of-the-art analytical skills,” says Heidi Pickett, the Program Director, in a press release. “MIT Sloan’s M.Fin program provides a competitive advantage for young people—particularly high-potential college seniors–to deepen their financial expertise and sharpen their professional skills before they enter the job market.”
In last year’s class, 92% of students had job offers within three months of graduation. Most took positions in sales and trading, risk management, hedge funds, financial consulting, and the public sector.
The school has also established the Dean’s M.Fin Fellowships for a select group of admitted students who demonstrate exceptional academic records, outstanding personal achievements, and high professional promise.
The M.Fin. program primarily targets students with 0-2 years of work experience. Students in the M.Fin Program take 10-12 specialized courses, which differs from the typical MIT Sloan MBA course of study where students have the option to take up to eight finance courses. Through a curriculum that combines theory and action learning, M.Fin candidates study the current and future best practices in using finance models, including a deep understanding of their limits.
“Building on the strength of our MBA program and record of successful finance graduates, our goal is be a magnet for the next generation of global financial leaders who can help lead the way in confronting the great global challenges we face,” says Pickett. “We want to cultivate innovative, principled leaders who have an appreciation of the ethical implications of finance, including the profession’s responsibility to society.
“Expanding our class size, launching an additional round of admissions, and offering fellowships to reduce the cost of an MIT Sloan education, we ensure that we will continue to attract the best and brightest students who go on to advance financial management practice and improve the world.”