“The resources at MIT are amazing in the sense that you can get access to great professors, research opportunities, and classes.”
Are there networking events available during the Fall term? And are these exclusive to MFin students, or do they cater to MIT Sloan as a whole?
Yes, the majority of networking events are in the fall — our recruiting partners typically dictate who gets to attend. It’s usually split between intern presentations (First-Year MBAs) and full-time presentations (Second-Year MBAs and MFin students).
A large amount of the recruiting is done early in the year. How can the MFin program prepare me for recruiting if I haven't had enough academic experience yet?
The Career Development Office provides you with the necessary resources (i.e., network, cover letter, résumé, interview workshops, etc.). Networking and alumni connections here are simply the best. You get to work with and learn from MBA students, Sloan Fellows, and MSMS students. Also, you will have access to the MIT Sloan alumni network, many of whom are very involved in the recruiting process.
Does the lack of an internship period in the program make it difficult to find jobs?
It does hurt to not have a financial internship on your record, so it is advisable to seek one before enrolling in the MFin program. However, even without an internship being a part of the program, every student is usually able to find a suitable jobthrough a combination of extra effort, displaying a real passion for finance, and having the MIT Sloan name behind them.
How will international students be placed? Does this make recruiting difficult?
There are some difficulties associated with placing international students, both in that it is often not possible for international students to work in the United States, and companies from outside the United States find it difficult to travel here just to recruit. However, as you know, a majority of students this year are from outside the United States. Frankly, some of the best opportunities available to our students are international positions — you only have to look at the growth of Asia relative to the rest of the world in terms of IPO deals, etc., this year. In an attempt to be a part of this growth, each year we lead a trek of students to the Asia region to introduce our students to employers there. This year, we are expanding from just Hong Kong to include Beijing and Singapore.
If I am interested in a very quantitative job, would MIT Sloan’s MFin program not be appropriate for me, and should I opt for a quantitatively driven financial engineering program instead?
That is not the case at all. A great number of students come to the MFin program wanting to target quantitative job roles, and they have all found plenty of courses to meet their needs. Keep in mind that in addition to the classes offered specifically by MIT Sloan, students are also entitled to enroll in any class at MIT, including the other graduate departments, such as engineering, computing, mathematics, and statistics.
Did all of the students of the MFin students who were seeking employment find a job?
Yes, all the students seeking jobs had secured an offer by September (when the typical benchmarking takes place). Roles included positions in Sales & Trading, “Classic” IBD, quantitative finance, traditional corporate finance roles, and financial leadership programs. Students were split about 50/50 between domestic and international positions.
Has placement improved in the last year?
First, I want to give all our students full credit for earning their job offers last year. We do not “place” people, in the traditional sense. However, we do offer a number of support services through the Career Development Office shared with all of MIT Sloan.
What are the typical salary ranges we can expect after leaving the MFin program?
Salary is extremely dependent on experience. Analyst-level roles typically are compensated in the $60K-$80K range, while associate-level roles typically pay $100K or more. But remember, recruiters typically expect at least 3–5 years of experience in the workplace before they will consider candidates for this level.
What percentages of the class went into which fields, post-graduation?
About 15 percent went into sales & trading, 15 percent classic international business development, 15 percent finance leadership programs, 15 percent consulting, 10 percent quant roles, 10 percent investment management, 10 percent treasury/CFO path roles, and 10 percent management training.
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"The demand that we’re trying to fill is for specialized people, professionals in the financial industry, ranging from managers, traders of hedge funds, and risk managers at major financial institutions."