Considering A Master’s In Finance? Here’s How To Apply And Get Accepted
For those considering Master's in Finance programs, we break down the key information on admission requirements, cost, and application tips for the HKUST-NYU Stern MSGF
From tapping into the latest opportunities in fintech to exploring connecting with top investment banks, Master’s in Finance programs are a great opportunity to network, travel, and accelerate your career.
Even executive level workers can benefit from a refresher on their industry, especially in the dynamic world of finance, where the fundamentals of banking, economics and investment are constantly changing.
The post-experience Master of Science in Global Finance (MSGF), a joint venture between HKUST and NYU Stern, brings together executive-level professionals from across the globe to learn from expert faculty in the financial centers of New York, Shanghai, and Hong Kong.
So, when researching a post-experience Master’s in Finance, what should you look for? From admission requirements to fees and application tips, we break down everything you need to know.
MiF Admissions Requirements
Admissions processes vary between schools, with some taking rolling applications and others with clear rounds. Nearly all will require you to attend an interview, submit references, and write an essay explaining what makes you a strong candidate.
For the HKUST-NYU Stern MSGF, the process begins with a preliminary information form where you submit your CV, and then an informal interview with the admission's team where you can ask questions and discuss your suitability to the program. After this comes an online application, which includes an essay element, followed by a more formal selection interview.
Master's in Finance courses are separated into pre-experience Master’s courses, for recent bachelor’s graduates with limited work experience, and post-experience courses, that require you to have worked in the sector before enrolling.
The HKUST-NYU Stern MSGF is a post-experience master's, with the 2020 cohort bringing an average of 11 years work experience to the classroom, and representing 14 nationalities.
Applicants who have worked for financial giants like Bloomberg, Goldman Sachs, and HSBC are sure to stand out, but the course can also be used to pivot into finance if you’ve worked in an adjacent field like tech or consulting.
If you are applying with the goal of switching your career, it’s worth reflecting how your individual experience is applicable to the finance sector, and explaining this clearly in the interview and essays.
The MSGF also requires clear evidence of quantitative skills, which can be demonstrated through your previous experience, or through taking the GMAT or GRE test.
Master’s in Finance courses are an investment in your future. The MSGF fee comes in at between $70-80,000.
There are lots of different ways to fund your degree, from loans and scholarships, to crowdfunding or company sponsorship. Different MiF programs may have various available sources of funding which you should check before submitting your application.
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MiF Application Tips
When looking for the right master’s in finance for you, don’t be afraid of getting in touch with faculty and admissions staff to gather as much information as possible before you decide to apply.
You’ll need a clear idea of your long-term career aspirations. Are you hoping to pivot into a different department, or gain exposure to a foreign market? It’s worth outlining these ambitions clearly in your application essays, and showing how the specific course you're applying for can help you realize your goals.
“My learning experience on the MSGF was a two way street between the professors who taught the content, and my peers who discussed how this could be applied across the different sectors they had a background in,” says Dan Wen Soh, who used the MSGF as a springboard to transition from working in HR at Merrill Lynch to becoming vice president investor relations at Maison Capital.
Given this peer-to-peer aspect, top-tier programs will value applicants who have strong communication skills, a collaborative mindset, and a unique perspective to bring to the classroom.
When it comes to your application, particularly in the interviews and essays, it’s important to get across how you will contribute to this collaborative atmosphere, as well as what you are hoping to gain from it.
Overall, the stand-out applications are often the ones that are most genuine, and allow your personality to shine through. Keep this in mind, and you’re sure to put in a competitive application.