Common Questions

What is the MFin class size at MIT Sloan?

 The MFin Class entering on July 2019 is composed of 116 students. Each year, we look to seat a class of 110 to 120 students. 

What is the difference between the MFin program and a finance-focused MBA from MIT Sloan? The MFin program is geared towards early professionals who are looking for a finance-specific program that includes a deep dive into quantitative courses using modeling and computer programming skills. While MBA students can pursue a finance track at MIT Sloan, the program also equips graduates with a broader general management skill set and knowledge base. The applicant's career goals will largely determine which type of program to choose. Additionally, MFin students are able to use both MIT Sloan and MIT career resource centers, a huge bonus for MFin students

Where can I view the class profile?

The class profile can be found online. This contains all of the statistics we have for our current class.

How busy is the program’s schedule? What time of day are classes?

The MFin program is rigorous and intensive to ensure that students have a strong understanding of the fundamentals of financial theory, quantitative modeling and industry practices. Balancing job searching with academics is also a challenge, but students have support along the way. Classes generally run between 8:30 a.m. and 4:00 p.m. Typically on Fridays, students will work on recitations which is a review of the week's problem sets and lessons learned.

What are the classes like? Are they individually driven or team based?

The curriculum is team driven, in homework, projects, and case studies. The midterms and exams, however, are individual. You can typically customize the number of classes between four and six each week. Each class is two lectures and a recitation.

What’s the MFin curriculum like? Is the curriculum more quantitative oriented?

There is flexibility in the curriculum, and you may choose what kind of courses you want to take. However, there are several required courses that are rigorous in quantitative skills—think stochastic calculus, financial econometrics, and simulation. Take a look at the MFin Curriculum page for more information about our courses and electives. 

Do MFin students have SIP and IAP?

MIT Sloan Intensive Period is held one week in October and one week in March. Independent Activities Period is MIT-wide and occurs during the entire month of January. MFins are free to do what they wish during IAP—Finance Research Practicum^SM, travel, job search, etc. There are many optional, fun non-credit activities, sessions, lectures, and workshops held across campus. MFins are welcome, but not required, to participate in any of these.

Is it possible to do an internship during the program?

Practical training is an important component of a student’s preparation. MFin students are expected, when possible, to take advantage of the many practical learning opportunities offered at MIT Sloan. In the 18-month format, students have the option to participate in a summer internship during their second summer semester. The 12-month format does not include a traditional internship. However, it offers students the optional Finance Research Practicum^SM during the month of January. The Finance Research Practicum^SM, available to both 18-month and 12-month students, is a student team-based project working on a high-impact business challenge facing a company sponsor who needs a real-time solution. During the Finance Research Practicum^SM, students spend one month working directly with client teams tackling high-impact challenges at companies like Goldman Sachs, JP Morgan, Credit Suisse, BlackRock, and Fairhaven Capital. International students must check with the International Students Office to ensure compliance with immigration regulations before participating in practical training.

Additionally, the Finance Proseminars are one-semester action learning courses that offer students experience in the complex task of developing and communicating solutions to the challenging financial problems facing businesses today. Students work in teams to tackle issues posed by company sponsors and present findings to the company sponsor and their fellow classmates.

What advantage do you believe the MIT Sloan MFin program has over other top MFin programs?

The brand name of MIT Sloan is extremely strong, particularly around the world. Unlike other MFin programs, we have consciously designed the MFin to be a great foundation study for the pillars of modern finance—so you can take a wonderful breadth of finance courses, but also tour the whole MIT campus for depth in technical areas you may want. It’s essentially broader than a financial engineering degree, but gives you the capacity to go deep if need be.

How long does it take to complete the program?

We offer the program in two formats: 12-months and 18-months. The degree requirements are the same for both formats. Students in the 12 months spend the summer plus two academic terms (fall and spring) in residence, and graduate in June. The 18-month format consists of four academic terms (summer, fall, spring, fall) and the opportunity to complete a summer internship and graduate in February. MIT undergraduates who have fulfilled specific Course 15 work may be able to complete the program requirements during the fall and spring terms. Additionally, MIT undergraduates will need to take the Programming Literacy Assessment Test (PLA) and Math Assessment Test (MAT) at the start of the program in July.

Can MFin students enroll in any of the MIT Sloan Certificates?

Yes, students are able to enroll and earn a certificate in one of the following three options while pursuing the MFin degree: Business Analytics, Healthcare or Sustainability.

Would the summer session occupy the full summer term?

The summer term is an intensive program that begins the first week in July and ends in late August. Over the summer term, all students take intensive courses in finance theory, corporate financial analysis, and financial mathematics. Students will also participate in the MFin Career Bootcamp.

When is the MFin Program start date?

Applicants admitted to the MFin program in 2019 were required to be on campus the first week of July. After the summer term, all MFin students attend the MFin Integration Day in early September 2019. This event is an important component of the MFin program and is focused on building a cohesive and inclusive cross-class community as we welcome back our returning 18-month MFins and introduce them to our new class. The activities include numerous community building exercises and networking opportunities. 

Why not offer a degree in financial engineering?

Finance is broader than just financial engineering, which suggests “quants and traders only.” The MFin program addresses financial engineering as well as the broader area of finance. Students who are interested in a deeper dive into this area have the option of taking the Financial Engineering concentration offered in the program.

Can students complete the MFin program part-time or via distance learning?

No, the MFin program is full-time only and takes place on the MIT campus.

 

What’s the difference between the Chartered Financial Analyst and the MFin program?

There are a number of differences between the CFA program and the MIT Sloan MFin program. First, the CFA program is focused on investment management, whereas the MFin program is broader and prepares students for careers in investment banking, corporate finance, finance-related consulting, risk management, financial technology, trading, central banking, and securities regulation, as well as investment management. Second, the CFA program, while focused on investment management, is a generalist program. That is, the level of depth at which it treats any given topic is determined by the question, “What does an investment professional who is not an expert on this topic need to know about the topic?” The MFin program, while providing this generalist perspective, also goes into considerable depth. Third, the CFA program is a distance learning program, whereas the MFin program is residential. This allows for a more intensive, total immersion experience, including significant peer learning. Finally, the CFA is a professional designation that involves becoming a member of a professional society, including subscribing to a code of ethics. The MFin program is a degree program that ends when you graduate; while we encourage alumni to stay connected to the School and to one another, this is not the same as being a member of a professional society.

Does the MIT MFin program accept transfer students from another MFin or MFE program?

The MIT Sloan MFin program does not accept any transfer credits and it is not possible to shorten our program based on work done elsewhere.

Is it possible to write a thesis while enrolled in the MFin program?

Yes, the thesis is optional and fulfills two of the three required general electives. The degree is the same (Master of Finance) for all graduates, whether they choose to write a thesis or not.

What if my transcript is not in English?

 We require all transcripts to be submitted in the original language, accompanied by an English translation. We accept translations issued by an institution or professional translating service, such as World Education Services (WES). If you are currently earning a degree, please submit your most up-to-date transcript.

If I have an international transcript, do I need to have an outside credential service evaluate it and provide you with a report?

While some applicants choose to have an outside credential service evaluate their transcript, it is not mandatory.

Is there a minimum GPA?

There is no minimum GPA. View our class profile to see the average GPA of our current MFin class.

How do I submit letters of recommendation?

You will provide the recommenders’ contact information on the online application, and then your recommenders will submit their recommendations online. We prefer that you provide a professional or academic email address for your recommenders and not a personal one.

Should recommendations be in a question-answer format, or should they be in letter format?

We prefer the question-answer format because we require that the recommender answer all of the questions that we ask. If the recommender thinks the recommendation would be better suited to a letter format, that is fine, as long as all questions are covered.

Can I submit my application even though I have not yet received the Analytical Writing Assessment score for my GMAT?

Yes, you may submit the application without an AWA score; however, this could delay our decision on your application.

Is there a minimum GMAT or GRE?

There are no minimums for applying to the MFin program in any category. View our class profile to see the average GMAT/GRE score of our current MFIn class.

Is it possible to waive the GMAT/GRE for any reason (e.g., already having a PhD)?

All applicants are required to submit valid test scores for either the GMAT or the GRE.

I have a low score. Should I still apply?

Our selection process is holistic and applications are reviewed based on each component of your application being as strong as possible to provide an entire picture of your background and experiences. Because of this, it is possible to offset a low GMAT, GPA, etc., by succeeding in some other area. Also, whom we select depends on the pool for the given year because we are looking to enroll the most qualified and diverse class. Given our selection process, we do not offer admissions advice based on one piece of data, such as your GPA or test score or something else.

Are some parts of the application weighted more than others?

No single factor is more important than any other.  For example, a low GMAT or GRE score may be successfully offset by strengths in other areas.

What is the application procedure for re-applicants?

Re-applicants must submit a new application every year. There is no difference in the application process for re-applicants as opposed to first-time applicants. For re-applicants, we look to see what has changed in your application and how you have grown as a person and a professional over the course of the year. These changes and improvements to your candidacy can be shown through writing a new essay and having updated recommendations supporting the changes and improvements you have made.

Can you provide feedback on my chances of being admitted?

Each year we receive more applications than places in the class. Unfortunately, we do not have the resources within our staff to provide individual application feedback, even if the applicant expresses a desire in re-applying for a future year. In your experience, what is the most important thing that a current student applicant should be aware of? In general, strong prior academics and understanding of how the MFin program will help achieve your career goals is valuable. You should have a strong motivation to build a career in the finance; some students are experienced in the industry through full-time work and/or internships and some show learning ability through university coursework, student clubs, competitions and extracurricular activities. Who evaluates the applications?

The applications are evaluated by a professional Admissions Committee, composed of staff on the admissions, career and program teams, along with members of the finance faculty. Students and alumni are not part of the assessment process. 

Is it best to have a recommendation letter from someone who knows you better even if he or she isn't your direct supervisor?

We request that one of the letters of recommendation will be from a direct supervisor. If this is not possible and you choose to get someone else at your current or former employer, then you will need to explain the absence of the supervisor’s recommendation in the optional/supplemental portion of the application.

One of my recommenders doesn’t speak or write in English. Is it okay if she composes the letter in a foreign language and I translate it into English?

Someone other than the applicant should translate the letter of recommendation; perhaps the recommender has an assistant who could help. 

Can my recommenders submit their letters of recommendation after the application deadline?

All required application materials, including letters of recommendation, must be submitted by the deadline.

Does the MFin program prefer applicants with specific undergraduate majors?

We accept candidates from a diversity of academic disciplines and backgrounds, such as business and commerce, math, science, engineering, humanities, economics, etc. 

Is an internship considered working experience?

Yes, an internship is professional work experience and will be considered in your application.

Are there any required courses students have to take in order to be admitted?

We do not have prerequisite courses, but many students have found it helpful to have background in calculus, statistics, linear algebra, probability and programming. Students have also found it helpful to take a course (online is acceptable) in computer programming such as R or Python. Check out our Suggested Background page for additional details on recommended coursework.

Do you think having a master’s degree in another area before applying to the MFin program is a plus?

We consider all aspects of your application when reviewing your candidacy. If you have already earned a master’s degree, we’d be interested to learn what type of study you pursued and what post-graduate goals you have planned.

Is there a rolling admission for the MFin program? The MFin program does not have rolling admissions. Applications will be reviewed after the deadline.

Who can apply to the MFin program?

Applicants will need to earn an undergraduate degree before enrolling in the program. We accept applicants from three-year bachelor’s programs. MIT undergraduates who enroll in the MFin as a fifth-year student will be permitted to receive both the SB and the MFin degrees together if preferred, but all undergraduate requirements must be completed prior to enrolling formally in the MFin program.

Do I need work experience in order to apply?While some applicants may have several years of experience, this is not a requirement for admission. On average, our students have 0–4 years of prior work experience.  A significant population of our students come directly from undergraduate schools, but those students will typically have completed an internship during their undergraduate study.

Can I apply to MFin and another MIT Sloan program concurrently?

While we do not offer a dual degree option, prospective students can apply to multiple Sloan programs; however, each program makes admission decisions independently. Additionally, you must complete each application and pay each application fee. The application system will prompt you to use a different email address for each one.

Can I transfer credits to the MFin program from another Master’s Program?

We do not accept transfer students.

Will the Admissions Committee expedite my application if it is submitted before the application deadline?

The Admissions Committee will begin reviewing all applications immediately after the application deadline. Unfortunately, we are not able to conduct any application reviews prior to the application deadline.

Is an interview required? Yes, an interview is required but interviews are by invitation only. All students accepted into our program will be interviewed. An invitation to interview signals that your application has reached an advanced stage of consideration, but does not guarantee admission. Arrangements and detailed information will be provided if an interview invitation is extended to you. 

What percentage of the pool gets an interview invitation? There is no set number as it depends on the applicant pool in any given year.  We interview approximately one-third of the applicant pool for each class.

Is it possible to waive the application fee?

To see if you qualify for an application fee waiver please visit the Application Fee section in our Application Instructions website.

Can the TOEFL/IELTS requirement be waived?

All applicants whose native language is not English and who have not received their entire undergraduate education in an English-speaking country must submit scores from one of two internationally recognized assessments of English language proficiency, the International English Language Testing System (IELTS) or the Test of English as a Foreign Language (TOEFL).  Test scores are valid for two years. For applicants planning to enter the program in 2020, we will consider scores for tests taken after January 6, 2019. Receiving your undergraduate degree in a country that lists English as an official language such as India, Pakistan, Hong Kong, or Singapore does not exempt you from the English language proficiency requirement.

Can I apply to the MFin program if I already have another master’s degree (e.g., an MBA)?

Yes, you may apply, but we suggest explain why our MFin program will help you achieve your goals and is valuable at this time.

What is the MFin tuition charge?

 Visit here for information about MFin Tuition and Financial Aid. 

Are Research Assistantships (RA) or Teaching Assistantships (TA) available to MFin students?

Students enrolled in the MFin program are expected to be self-funded. Although the MFin program does not offer RA or TA positions, our students are welcome to seek and apply for RA or TA opportunities that may exist in other programs or departments across MIT.

Are fellowships or scholarships available to MFin students?

The MFin program offers a limited number of merit-based fellowships. These fellowships are awarded to admitted candidates of all citizenships and academic backgrounds. All admitted candidates are considered for these fellowships. Fellowships are awarded to individuals with outstanding academic records, personal achievements, and professional promise. Further consideration will be given to candidates who enhance the geographic diversity of the MFin class. A list of available fellowships and scholarships can be viewed here. 

What is the function of the Career Development Office?

 The CDO offers career advising and coaching, curated resources, and a calendar of career events. As an enrolled student, you benefit from the guidance of dedicated career advisors and coaches who know their programs and can assist in all stages of career management, from deciding what’s next, to developing a plan, making connections, preparing for interviews, and negotiating offers. Other resources include alumni, clubs, tracks and certificate staff, and greater MIT. Learn more about the CDO via their website Your CDO.

Are there networking events available during the fall term? 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. MFin Networking Night is an event that takes place each fall when employers come to campus to connect exclusively with MFin students. There are also networking events that are open to students across programs.

A large amount of recruiting is done early in the year. How can the MFin program prepare me for recruiting if I haven't had enough professional experience at that time?

The Career Development Office provides you with the necessary resources to prepare you for recruiting (i.e., networking, cover letter, résumé, interview workshops, etc.). Networking and alumni connections here are simply the best. You get to work with students across all graduate degree programs, including MBAs and PhDs. 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 12-month  program make it difficult to find jobs? How will international students be placed? Does this make recruiting difficult? 

It is beneficial to have a financial internship on your resume, so it is advisable to seek one before enrolling in the MFin program. However, even though a formal internship is not part of the program, typically students are able to find a suitable job through a combination of displaying a real passion for finance, having a clear explanation of how they can contribute to their employer, and a diligent approach to their job search throughout the year. 

If I am interested in a very quantitative job, would MIT Sloan’s MFin program not be appropriate for me? Should I opt for a quantitatively driven financial engineering program instead?

That is not the case at all. Many students come to the MFin program wanting to target quantitative job roles, and there are plenty of courses to meet their needs. In addition to the classes offered specifically by MIT Sloan, students are also able to enroll in any class at MIT, including the other graduate departments, such as engineering, computing, mathematics, statistics, etc., as well as PhD level courses. Employers recognize the strong technical and quantitative skillset of our MFin students.

Do any of your MFin students seek employment outside of the pure-play finance fields?

Yes. While the majority of MFin students pursue careers within the financial services industry, some students seek and secure roles outside of pure-play finance. MFin graduates have accepted data science roles at tech companies, corporate finance and strategy roles at non-financial companies, management consulting roles, and opportunities within the public policy, non-profit, and business development fields.

What are the career prospects for MFin graduates as opposed to MBA graduates?

Generally speaking, MFin students accept roles within the finance industry, while MBAs secure roles across industries. Additionally, MFins have on average 18 months of work experience, including internships, while MBAs typically start the program with 4 or more years of full-time work experience.

Do employers that come to campus look to recruit for analyst-level jobs or associate-equivalent level jobs?

Both! The level for which MFins apply depends upon their previous work experience. As an MFin student, you have access to Campus Recruiting at both the main MIT campus and the business school at MIT Sloan.

How many career fairs do you have each year? Are they for MFin students only, or are they for all MIT Sloan students?

At MIT, there are several career fairs on campus. The fall career fair on main campus is the largest and is open to all MIT students. It's a typical "trade fair" or career fair, with lots of booths and over 300 firms. Main campus also has small specialized career fairs (e.g., European career fair, non-technology career fair) in the spring. There is also a career fair here at MIT Sloan in the spring, but it's very different. This one is for MIT Sloan students only, and firms are only allowed to come if they have a specific role they are looking to fill. They can interview for that role in the afternoon, so it is a much smaller affair and typically involves 20-25 companies. 

If I were to concentrate in financial engineering, what level of expertise would I be able to achieve?

The financial engineering concentration curriculum provides MFins with a deep level of expertise and positions them to be successful in highly quantitative careers. Students interested in quantitative finance have always found more than enough hard-core courses at MIT Sloan and at the broader MIT campus and have been successful in finding competitive quant roles upon graduation.

What distinguishes the MFin from an MBA career-wise?

From a career perspective, employers will have a greater expectation of your depth of technical expertise with respect to the concepts of modern finance, since MFin students typically take twice as many finance courses as compared to their MBA peers. MFin students are perhaps showing a greater commitment to learning about the tools of finance, as opposed to learning about the tools of management in an MBA. The difference in degrees is important, but the level of work experience of each individual candidate is a huge factor, too.

Does MIT Sloan encourage alumni mentors to help students in finding jobs? How does career services encourage communication between alumni and current MFin students?

We certainly do urge our students to connect with both MIT and MIT Sloan alumni. We provide a database by which students can research alumni and connect themselves. This aligns with our broader career philosophy around teaching students how to get a job—both now and for the rest of their careers. Students can also engage in the MIT Advisors Hub to receive advice, insight, and prep directly from alumni.

When does the recruiting process start for MFin students?

The start of the recruiting season varies based on your career interests. Some industries begin recruiting as early as summer, but the majority of recruiting activity starts in September and continues throughout the academic year. A couple of points to consider: The Career Development Office has thoughtfully designed a summer term career curriculum, called Career Core, which provides students with the career tools and resources to prepare for a successful job search. In addition, the CDO shares career development and research resources online even before you arrive on campus. Still, it is a very intensive process combining job search and study—one that requires a strong work ethic and good time management skills to be successful.

How do students from outside the U.S. find jobs? Is recruiting difficult for them?

It can be challenging for international students to find full-time employment, in that it is often not possible for international students to work in the United States, and companies from outside the U.S. find it difficult to travel here just to recruit.  That said, many of our recruiters are interested in the best and brightest candidates they can find, regardless of their country of origin. It's also worth remembering that while the majority of our students are from outside the U.S., the majority of them are successful in finding jobs here. Of the offers received, 63 percent were in the United States.

Do MFin students get job offers in the spring or in the fall? Is the spring career fair only looking for a small number of people since most have already found jobs?

It ranges, but typically 50 percent of MFin students accept their offer in the fall, and 50 percent in the spring. In fairness, the career fair is not a major source of jobs. Most students secure their jobs on the basis of their own networking, reaching out and making connections with contacts in their target sector, and being very persistent in continuing this network until they impress a firm enough with their passion for their target role. On-campus interviews certainly yield jobs, but students are encouraged to be prepared for many months of networking to generate a market for their own labor services.

If I am planning for a complete career change, which program would you recommend?

Your MFin degree is an effective way to kick-start or accelerate your career in the finance industry. For applicants with more than four years of full-time work experience who are looking to enhance their management skills and advance their career, the MBA program may be more suitable.

I am an accounting student and am interested in the Corporate Finance track. Is there anyone here currently tailoring their studies in this track? What is the typical career path for current graduates?

We have had MFin students with accounting backgrounds, but it depends on your interests. We’ve seen students leverage their understanding of the connectivity of the different financial statements to secure international business development roles. Depending on your experience and if you have helped firms improve their financial margins and performance, this can be a great skill set for private equity.

 

I am considering the career path of going to investment banking (IBD) following the MFin program, spending three to five years, and then making a leap to private equity (PE). In the long term, I hope to go to venture capital (VC). Do you think this is a feasible plan or are there better alternatives to realize my long-term goal?

IBD is probably the best first step if you really want PE, but both of these are very competitive careers to secure—still if you make it, you may not want to pursue VC. VC funds typically like professionals with deep industry background, since they are growing small companies, while PE shops do more financial re-engineering.

Is there an internship option in January?

In January, you have a Finance Research Practicum^SM option. It is somewhat similar to an internship where teams of four students fulfill an academic project while working hand in hand with companies (many times on-site), solving real and rigorous problems agreed upon by the professors.

What career management activities are offered at MIT Sloan?

We have a deep offering of career programs to help you. Once you enroll in the MFin program, you’ll receive access to career resources to help you hit the ground running. Then, once you arrive to campus, we start with a full day of career programs, call Career Boot Camp, that happens during Orientation so you are informed and prepared from the on-set. Throughout the summer, we offer Career Core which consists of tailored career education sessions to advance your career development and prepare you for recruiting. We run sessions on building and writing a strong résumé and cover letter, working on your career story, studying interview and networking techniques, and doing mock company presentations. MFin NY Finance Day is a great opportunity during the summer term for students to meet with employers and learn directly from industry professionals. In the fall, we ramp up our mock interviews and our individual advising sessions.

My research experience is mostly mathematical. I do not have work experience, but I really enjoy analyzing complex datasets. What do you suggest?

We do have students coming into the program with primarily research backgrounds (and limited professional experience), and we feel the program can be a very good fit for someone with your credentials. In the end, it really depends on what you want to get out of the program and the kind of position you are looking to get at the end of the program. Many companies value strong researchers.

International students often times require work authorization. Does this make recruiting difficult?

Since the MFin program is STEM-approved, MFin graduates are eligible for an OPT extension, allowing up to 3 years of work authorization in the U.S. post-graduation. While the majority of MFin students are international, the majority of our students secure jobs in the U.S. post-graduation. That said, there are some recruiting challenges for international students. It can be hard for international students to secure employment in the U.S., and some companies from outside the U.S. find it difficult to travel here just to recruit. 

What are the employment statistics for the MFin Class?

The current MFin Employment Report can be found here.

There are two formats for the MFin program, an 18-month and a 12-month option.  Does the 18-month require the same number of credits to graduate as the 12-month format?

 Yes, the degree/credit requirements are the same for both MFin formats.

In terms of course design, how does the 18-month differ from the 12-month format? What will we be doing in the second fall semester? During the other semesters (including summer), are the courses the same for both program options?

The degree requirements are the same for both the 12-month and 18-month formats. Course design is consistent with our current degree requirements. The extra fall term includes required courses but also allows students to spread out their degree requirements over four terms, take additional courses, or use the extra time to write a thesis. It is really up to the individual student.

Are there any limitations on how many courses I can take?

Yes, there are unit limits per term, which is consistent with our practice today, and with all MIT Sloan degree programs. The maximum number of units per term is 66, of which MIT Sloan units cannot exceed 60.

Can students in the 18-month format take classes during the second summer term?  Are they given the full academic resources of MFin students again in the second fall term?

For those in the 18-month program, no courses are offered during the second summer term, as that time is reserved for summer internships. Courses will resume again during the second fall term.

Can courses counted towards a concentration be taken as electives in the fall and spring as part of a normal course load?  Since concentration requirements are in addition to the MFin requirements, does that imply a greater-than-normal course load or an extra term?

There is room within the unit limits to take concentration requirements in addition to degree requirements. Concentration requirements may be completed in either 12 or 18 months.

Is it possible to complete more than one of the three concentrations; Financial Engineering, Corporate Finance and Capital Markets?

MFin students are limited to only one concentration.

When should I decide whether or not to choose a concentration?

We will ask if you have an interest in pursuing a concentration in the MFin Application, which is not binding at that time. However, if you are considering a concentration, you should plan your courses accordingly before the first fall term bidding process. Dedicated MFin program advisors can help you navigate this process.

What are the course requirements for each concentration?

You can find a document detailing the concentration requirements on the MFin website. 

Are 18-month program students eligible to participate in Action Learning opportunities in their last semester?

Students are not allowed to take Action Learning Labs that extend into IAP.

ADMISSIONS FAQS

If I am accepted in the 18-month format, will I be given time to decide between the 12-month and 18-month formats prior to the start of the summer term?

If you are offered a seat in the 18-month, you may choose between the 12-month and 18-month formats, and will have several weeks after decisions are released to reply. Accepting the select 18-month format is a binding decision. 

If I am undecided about the 12-month vs 18-month formats at the time of the MFin application deadline, what choice should I make in the application?

We recommend that if you are undecided about the 12-month vs 18-month option, you should select the “Both 12-month and 18-month” choice in your application so that you will be considered for both formats. You will not be able to change your decision after the application deadline.

CAREER DEVELOPMENT FAQS

Will the students selected in the 18-month format apply for full-time and internship positions simultaneously?

 As an 18-month student, your full-time and internship searches are conducted sequentially, not simultaneously. You will first apply to participate in a summer internship, which typically runs from June to August. You may then choose to conduct a full-time job search when you return to campus in the fall, after your summer internship.

Does the Career Development Office (CDO) have previous experience in helping graduate students find summer internships? What tools and resources does the CDO have in place to help students secure summer internships?

Yes! The CDO has offered tools and resources for a summer internship since the inception of the MIT Sloan MBA program, which also allows for a summer internship. MFins are in a unique position to access both MIT Sloan and MIT main campus career resources and job postings. In additions, MFins also have dedicated career advisors to help them navigate their career exploration process.

Will the same career advisors provide full-time and internship job search support? Does MIT Sloan MFin program have its own career service support?

As an MFin student, you will work with a dedicated career advisor throughout the program, regardless of whether you participate in the 12-month or 18-month program. Your career advisor will work closely with you to provide a truly personalized advising experience.

Is an internship guaranteed, and will it be paid?

Students in the 18-month program format may conduct a summer internship search with the support of the CDO and its employer partners. Internships are typically paid, but the remuneration of an internship will depend on the opportunity. Nearly all students secure internships, but they are not guaranteed.

Will the 18-month format students share the same career assistance in the second fall term as the newly admitted students?

The 18-month participants who are returning for a second fall semester will have access to the same full-time, job-seeking resources as the newly entering class of MFin students.

What are the recruiting schedule and timeline for the MFin 12-month and 18-month options?

Students in the 12-month program will interview for full-time positions starting in the fall semester. During this same time, students in the 18-month program will recruit for internship opportunities during their first fall term. 18-month students may choose to look for full-time positions in their second fall term (after returning from their summer internships), while some may secure and accept returning full-time offers from their internship employers.

Will the students in the 18-month format compete with MBA students who are also looking for summer internships?

Typically, no. The profile for MFin students differs from that of MBAs in terms of work experience and background. It is up to the hiring company to select which MIT Sloan population(s) it is targeting through internship postings.

What impact does completing an internship have on securing a full-time position after the program concludes? 

The opportunity to conduct an internship gives students additional practical experience, which in turn helps with the full-time job search. Some industries and companies focus on internships as a feeder pool for their full-time hiring requirements. For example, the majority of investment banking full-time hiring needs are typically filled from their internship class. When considering whether to apply for the 12-month or 18-month program, we strongly encourage you to research your target industry to understand how important having an internship is to that industry.

Are full-time career opportunities comparable for candidates across both the 12-month and 18-month program options given that the general recruiting cycle targets a summer start?

This really depends on the employer industry, job function and geography. Some of the larger employers with structured training programs may have two intakes to accommodate for different academic schedules (mostly in Asia). Many MFin students also go into the asset management industry, which tends to recruit in the spring. From a career perspective, the 18-month is well suited for students seeking to join an industry where a summer internship would be beneficial to secure a full-time offer.

If an 18-month program student receives a full-time offer to start before February graduation, is he or she allowed to work before the program ends?

MFin students may not begin full-time employment before the program ends. As an 18-month student, you will be eligible to start work in January or February of the year of graduation, pending work authorization in the country of your employment.

I am an international student. Will choosing the 18-month format give me a better chance to find a job in the United States compared to the 12-month format given the summer internship opportunity?

Many factors are involved in a successful job search.  Each student comes with a different background and career goals so there isn't a standard answer to this question. The 18-month format will allow you to gain additional practical training during the summer, but this needs to be taken into consideration with your existing experience and career goals.

I will be graduating in May of this year. What do people usually do to make good use of this 1-1.5-month period before matriculation at MIT Sloan?

Reaching out to your existing contacts to let them know your plans to attend graduate school can be beneficial. Depending on your background, you may also want to take a refresher course in mathematics.  Finally, it would be easier for you to set up the administrative part of campus life (e.g. bank accounts, student cards, etc.) before starting at MIT Sloan in July.