It has been forever since I last checked in on the University of Minnesota Masters in Finance program and I wanted to fix this error on my part. I first wrote about the program when it launched a number of years ago. It continues to benefit students and has grown over the years. Since it has been so long since my last post I will use this as a general overview of the program to help anyone considering the degree.
Overview
This is a STEM designated, full time, Masters in Finance program starting in July. Students can choose either a 10 month or 16 month plan of study and complete 39 credit hours for their degree. The Minnesota program focused heavily on technical aspects of finance and incorporates a number of programming classes as well as experiential learning providing real world experience.
For students interested in ultimately pursing a PhD, there is a research track that students can choose. You need to write a personal essay as part of your admissions package on why you want to pursue research and the classes you take will include 8 credit hours of PhD finance classes. Very interesting and one of the few MSF’s that I have seen offering this.
There is also a dual degree option for students looking for both an MSF and a MS in Business Analytics. Two degrees in two years. This is pretty interesting and would combine two specialized degrees.
Admissions
Students interested in this program should ensure that they have completed a university level of statistics. Completion of Calculus is preferred, but not required. Anyone applying is required to write a personal essay, provide transactions, GMAT or GRE (optional if you have a 3.0 or above), Resume, Recommendations (2), Video Essay and an interview if selected.
Application Deadlines
- February 1
Decision notification: April 15 - March 15
Decision notification: April 30 - April 15
Decision notification: May 30
Tuition
The University of Minnesota tuition for the 2022-2023 year is as follows:
- Minnesota Resident – $41,145
- Non-Resident – $58,500
The program offers reciprocity rates to residents of North Dakota, South Dakota, Wisconsin, and Manitoba. This is pretty interesting and beneficial for anyone in these other states.
There are a number of scholarships and financial aid available as well. I encourage everyone to look into this and try and get as much financial aid as possible. The website mentions that 10 scholarships totaling $18,000 will be awarded in the 2023 year for domestic students. Aid is available for international students as well.
Class Profile 2022
I love when schools provide this as I think they are incredibly useful in gauging your overall competitiveness. The UM MSF profile is pretty comprehensive and the scores look great.
- Average GMAT – 661
- Average GPA – 3.52
- Average Work Experience – 1.4 years
- Average Age – 24
The program is pretty evenly split between men and women (59% and 41%, respectively). International students make up the majority right now (76%), but that means domestic students have a good chance at scholarship money. Most undergraduates studied finance or accounting (50%), but the other half is rather diverse, with economics, engineering, business management and other STEM.
Career
This program has some pretty nice career stats. I plan on doing a dedicated post to the placements results for last year, but the highlights are below.
- Of 2021 MS in Finance graduates, 93% received employment offers within six months after graduation.
- Average Salary (last 3 years) – $60,000
- Sample of Hiring Firms
- JPMorgan
- US Bank
- Accenture
- E&Y
- CitiBank
- Amazon
- 3M
A majority of students end up in financial services, but the industry placements is very diverse. Graduates are employed across a multitude of industries, showing the wide range of benefit this degree provides.
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Lot more to come on this MSF degree. This is a well known schools and I run into graduates in Chicago all the time. Placements look great and this program has a number of unique features that should be attractive to a number of individuals. Will keep you all updated on this degree.
Here is a link to the University of Minnesota Masters in Finance Program
