Master of Finance
How to Apply
Before beginning the online application, read the application instructions thoroughly.
The application process is designed to allow you to introduce yourself and to help us understand how you think, lead and pursue your goals. We are ideally looking for applicants from a variety of educational and professional backgrounds. The most attractive candidates for admission to the MIT Sloan Master of Finance program have a diversity of strengths. The admissions committee looks for a high level of excellence in test scores, grades, communication, leadership, teamwork, innovation and professional experience. Although, the average work experience for our applicants is 0-4 years, an internship or previous work experience in the financial industry has proven helpful.
In response to the challenges of teaching, learning, and assessing academic performance during the global COVID-19 pandemic, MIT has adopted the following principle: MIT’s admissions committees and offices for graduate and professional schools will take the significant disruptions of the COVID-19 outbreak in 2020 into account when reviewing students’ transcripts and other admissions materials as part of their regular practice of performing individualized, holistic reviews of each applicant.
Ultimately, even in these challenging times, our goal remains to form graduate student cohorts that are collectively excellent and composed of outstanding individuals who will challenge and support one another.
For additional information visit the MIT Graduate Admissions website.
To apply to MIT Sloan, please prepare a variety of materials to help us assess your qualifications. Remember, all materials must be submitted online by the application deadlines.
The Admissions Committee reviews all applications and will notify applicants of their decision on or before the deadlines listed below. Please note that in the interest of confidentiality, we will only deliver official decisions via your online application.
MFin Program Deadlines – for July 2020 Entry
Monday, January 6, 2020, 3:00 p.m., EST
The admissions committee notifies applicants of their decisions:
Thursday, March 12, 2020
Admitted applicants must reply to their offers:
Wednesday, April 15, 2020
A complete application for 2020 entry consists of the following:
Please submit a one-page resume (Times New Roman 10-point font preferred) that includes your employment history and academic record. Other information appropriate to a business resume is welcomed and encouraged, including extracurricular activities, awards, and achievements.
For formatting purposes, please use the template and keep in mind these guidelines:
- Education - please list institutions where degree is in progress or was awarded in reverse chronological order. Please feel free to include information about study abroad activities, relevant awards, scholarships, professional societies
- Work Experience - please list in reverse chronological order and include: company name, title, results-oriented bullets that demonstrate your skill set, and dates.
- Additional information - languages, extracurricular activities/community service, technical skills/certifications, special skills/interests (if appropriate)
Short Answer Questions
The mission of the Master of Finance program at MIT Sloan is to create the next generation of principled, global financial leaders with state-of-the-art training in modern finance theories and methods. The goal of our program is to attract students who go on to advance financial management practice and improve the world.
Using relevant, verifiable details, such as awards, rankings, media references, etc, please respond to the three short answer questions below. Each response should be 200 words or less.
Question 1: Please discuss past academic and professional experiences and accomplishments that will help you succeed in the Master of Finance program. Include achievements in finance, math, statistics, and computer sciences, as applicable.
Question 2: Describe your short-term and long-term professional goals. How will our MFin degree help you achieve these goals?
Question 3: Please share personal qualities that will enable you to contribute to the advancement of our mission.
Video Question 1
Please upload a one-minute (60 second) video introducing yourself to your future classmates and letting us know why you are interested in the finance industry. The video should be a single take (no editing) and lasting no more than one minute, consisting of you speaking directly to the camera. We recommend using an application such as QuickTime or iMovie to record yourself.
Video Question 2
All MFin applicants must submit a brief video statement in response to a simple, open-ended general interest question. The question is designed to help us get to know you better; to see how you express yourself and to assess fit with the MIT Sloan culture. It does not require prior preparation and will not be a technical question. The Video Question 2 is a part of your required application materials and will appear as a page within the application, once the other parts of your application are completed.
Applicant receives a randomly generated question and has one minute to prepare a 60 second response.
Letters of Recommendation
Applicants must submit three letters of recommendation. One letter of should come from an academic source, one letter of recommendation from a professional source, and the third letter of recommendation can be from either. If you are currently a student, we strongly suggest that the third letter of recommendation be from an academic source. If you are currently working full time, we strongly suggest that the third letter of recommendation be from a professional source. Please note:
- We do not accept recommendations from family members.
- Recommendations must be submitted online. We do not accept letters of recommendation via mail.
Please choose recommenders who are able to provide specific answers to the following questions:
How long and in what capacity have you known the applicant?
- How does the applicant stand out from others in a similar capacity?
- Please give an example of the applicant's impact on a person, group, or organization.
- Please give a representative example of how the applicant interacts with other people.
- Which of the applicant's personal or professional characteristics would you change?
- If you are an academic/technical recommender, please tell us how well the applicant mastered the subject you taught or supervised and in what ways the applicant demonstrated this mastery.
- Please tell us anything else you think we should know about this applicant
All letters need to be submitted by the application deadline.
Academic Records (Transcripts)
The Admissions Committee would like to see all of your transcripts, please include electronic copies of all of your academic records whose courses counted toward a degree. Do not mail in your official academic records or transcripts.
If your transcripts are not in English, you are required to translate them. There are several companies, such as WES, that offer translation services. We ask that you scan both the original and translated copies and submit them with your application.
Relevant Coursework: We are interested in relevant classes that you are currently taking or have previously completed. Using short answer fields in the application you’ll be asked to include details of courses you have completed from the following areas: Calculus, Multivariable Calculus, Linear Algebra, Probability, Differential Equations, Statistics, Computer Programming, and Econometrics.
Applicants admitted to the program will be required to provide an official signed and sealed transcript from each school attended. All admitted students will receive further mailing instructions after the acceptance notification, regarding where to send the materials. Any discrepancies between the scanned transcripts and official transcripts may result in a candidate’s rejection or a withdrawal of our offer of admission.
GMAT or GRE
If you are a current MIT student or graduate from MIT who meets the eligibility requirements, with a cumulative GPA of 4.2 or higher, the GMAT/GRE is not required.
For those not in this category, the GMAT or GRE is required of all applicants. We accept both the GMAT and GRE test results and have no preference for one over the other. Test scores are only valid for five years. Please include percentiles when submitting your score.
A valid test score (GMAT or GRE) must be taken on or after January 6, 2015.
Additional scores will not be accepted after you have submitted your application.
GMAT School Code: X5X-QS-69 GRE School Code: 3845
TOEFL and IELTS
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 on or after January 6, 2018.
Receiving your undergraduate degree in a country that lists English as an official language such as India, Pakistan, Hong Kong SAR, or Singapore does not exempt you from the English language proficiency requirement. TOEFL School Code: 3935 IELTS School Code: MIT Graduate Admissions
Submitting your online application
The online application is due by Monday, January 6, 2020 at 3PM Eastern Time. You may complete and submit the online application at any time before the deadline. Save your work frequently, and print a copy for your own records.
Application Fee: $150.00
The non-refundable application fee is payable by credit card when you apply online.
We offer fee waivers to the following applicants:
- College seniors with U.S. citizenship, graduating from a U.S. institution in 2020
- Active U.S. military personnel
- Teach for America members/alumni
- Peace Corps members
Applicants who qualify must submit the fee waiver form at least ONE week before the application deadline. Your request will be reviewed and you will receive an email with the results. If your fee is waived, you will be able to proceed to submit your application.