Earning a Masters of Finance opens up many opportunities, but there are several important and potentially strict admissions requirements that any who aspire to earn the degree should be aware of. By keeping the following common factors in mind (as well as knowing what factors aren’t requirements but commonly misunderstood as being necessary) can help aspiring graduate students prepare for the admissions process in a way that optimizes their chance at admission.
Resource: 20 Best Online Master of Finance Degree Programs 2016
A strong demonstration of passion and excellence
While many people understand that the graduate school admission process is highly competitive, one of the biggest misconceptions is that eligibility hinges entirely on the applicant’s GPA. Having a high GPA certainly doesn’t hurt an applicant’s chances at being accepted into a Master’s of Finance program, the GPA alone isn’t something guarantees acceptance or rejection. If anything, in a pool of truly ambitious and dedicated applicants, GPA alone may be insufficient to distinguish oneself as a cut above the competition.
Applicants whose GPA isn’t in the top percentile can still be admitted to a masters program if they strongly demonstrate excellence in another area, such as their Graduate Management Admission Test (GMAT), publications, awards, achievements or accolades. Whether it is through their testing score or personal initiative in their field, prospective graduate students will have to show a singular level of dedication and aptitude in finance in order to be a truly competitive applicant.
Providing letters of recommendation with up-to-date contact information
A necessary aspect of eligibility to the program will be the willingness of past instructors, internship supervisors, and other credentialed professionals to vouch for the applicants’ worthiness. Not only should the applicant be able to provide letters of recommendation, but the contact information should also be current and usable for reaching whomever wrote the letters. While some places of employment may not go as far as using the provided contact information to verify the legitimacy of recommendation, being admitted into a graduate-level program will oftentimes entail a brief but important line contact being made with whomever is alleged to recommend the applicant.
An interview detailing past experience with teamwork
Though the graduate program itself is something that can only be passed based on individual merit, the financial field is one in which professionals need to be either adept at or at least willing to work in a team setting. In the interview of the application process, it is common for prospective students to be asked specific questions about their experiences working with others in any projects relevant to the field.
Regardless of whatever the outcome of the project was, applicants will likely be screened for the attitude that they exhibit towards the notion of working with others. The initiative that an applicant has taken in seeing the project through will certainly count as valuable experience, but equally important is the applicant’s readiness and comfort with peer collaboration.
Because so many aspects of the financial industry require the collective efforts and insights of multiple people, even applicants who demonstrate exceptional hard skills and credentials may hurt their chances at being admitted if they’re averse to cooperating on a team.
It’s commonly believed that acceptance into a graduate program depends on academic success. While grades do count for something, some of the most common and important requirements will be related to an applicant’s level of legitimate passion for the field, enterprising actions in relevant areas, and their history of being both dependable and cooperative when working with others.
