The Application Process

Hello Everyone,
Since deciding last year to make a career switch into finance, I've been looking into my educational options. I looked into MBA programs first but found out that I probably can't get into a good school because of my lack of relevant work experience. So, I've started looking at MS Finance programs, most recently the Kelley Direct program at Indiana (just applied, so waiting to see if I got in). I was wondering if someone could give me feedback on my chances of getting into a good MS Finance program.
Here's my background. I had previously planned to become a pastor, so my undergrad was in Theology and Biblical Languages. I graduated with a 3.72 gpa. I only have about two years of full-time experience, with another few years of part-time experience while I was also working on my Masters at seminary. Furthermore, my work experience is not what good schools are usually looking for (for example, right now I work in the call center at a bank, and before that I was a teller). I didn't finish the degree due to switching career paths, but had a 3.79 gpa while there. I scored a 760 on the GMAT (49 in quant, 45 in verbal). Obviously my weak points are work experience and undergrad major, while my strong areas are gpa and GMAT. Any thoughts would be appreciated.

ChadTroll,

You will certainly for top MS Finance programs based on your 'numbers.' Given your work experience, your big challenge will be presenting savvy post-degree goals and showing that you have the knowledge of finance to know why an MS Finance degree helps you get there. There are many ways to show this due diligence, including showing that you have done informational interviews in the industry and simply explaining well in your personal statement where your interest in finance comes from. Of course, also show that you know your target programs well and have focused study interests. Feel free to send me your resume for a closer look: [email protected].

--Paul S. Bodine, www.paulsbodine.com, Great Applications for Business School

ChadTroll wrote:Hello Everyone,
Since deciding last year to make a career switch into finance, I've been looking into my educational options. I looked into MBA programs first but found out that I probably can't get into a good school because of my lack of relevant work experience. So, I've started looking at MS Finance programs, most recently the Kelley Direct program at Indiana (just applied, so waiting to see if I got in). I was wondering if someone could give me feedback on my chances of getting into a good MS Finance program.
Here's my background. I had previously planned to become a pastor, so my undergrad was in Theology and Biblical Languages. I graduated with a 3.72 gpa. I only have about two years of full-time experience, with another few years of part-time experience while I was also working on my Masters at seminary. Furthermore, my work experience is not what good schools are usually looking for (for example, right now I work in the call center at a bank, and before that I was a teller). I didn't finish the degree due to switching career paths, but had a 3.79 gpa while there. I scored a 760 on the GMAT (49 in quant, 45 in verbal). Obviously my weak points are work experience and undergrad major, while my strong areas are gpa and GMAT. Any thoughts would be appreciated.

Paul,
Thanks for the feedback. I will try to demonstrate my knowledge of finance, as I have been studying it on my own. I am especially interested in corporate finance; for instance, I have enjoyed learning about how to analyze companies' financial statements. As far as career focus, I admit that I am still relatively open, having never studied finance formally, but I have been most interested in investment banking. I've also considered financial analyst. Even though I originally looked at MBA programs, I'm convinced now that an MS Finance program would probably give me a deeper knowledge of finance and allow me to break into the industry. If later an MBA is necessary to move into management, I could always pursue that degree at that time.

Very good point: earning an MS Finance now does not preclude you from pursuing an MBA down the road...

ChadTroll wrote:Paul,
Thanks for the feedback. I will try to demonstrate my knowledge of finance, as I have been studying it on my own. I am especially interested in corporate finance; for instance, I have enjoyed learning about how to analyze companies' financial statements. As far as career focus, I admit that I am still relatively open, having never studied finance formally, but I have been most interested in investment banking. I've also considered financial analyst. Even though I originally looked at MBA programs, I'm convinced now that an MS Finance program would probably give me a deeper knowledge of finance and allow me to break into the industry. If later an MBA is necessary to move into management, I could always pursue that degree at that time.

Your GPA and GMAT are above the average for pretty much all MSF programs in the US. You have some work experience which will help you. The big issues are you undergraduate degree. Did you take any math and stats classes, or business classes? You might want to start reading financial periodicals and brushing up on basic finance.

My recommendation to you would be to look at Dukes and Wake Forests MMS degree and the UVA MS in Commerce. Duke would love your non traditional background and the MMS degree would provide a much needed business understanding. You can use it to go into finance or management, up to you.

Master in Finance HQ
www.MSFHQ.com