When people contemplate returning to school for a graduate degree, they usually pick disciplines where they have strong interests and that give excellent returns on their time and monetary investments. Analytical types often choose to pursue Master of Finance degrees because of the resultant high potential for career advancement within the financial industry and beyond. Besides having an interest in mathematics and quantitative analysis, top ranked schools desire those entering their programs to also have some work experience in the financial industry as a prerequisite for beginning the challenging journey towards a Master of Finance degree.
Academic Preparation For A Master Of Finance Degree
Adequate early preparation in mathematics and the sciences during secondary school education builds the foundation for success in later academic settings like graduate school. Both private and governmental agencies recognize the current and ever-widening skills gap in the areas of science, technology, engineering, and mathematics (STEM). As a result, educators have revamped secondary school curricula to include more courses that are laser focused on developing these highly valued analytical skills. High school students who participate in these courses typically pursue technology or engineering undergraduate degree majors. However, as a recent New York Times article pointed out, the STEM skills taught in advanced high school courses are not just valuable for students pursuing STEM related undergraduate degrees; students pursuing degree programs in business and the arts greatly benefit from STEM skills during their academic and professional careers.
Entrance into a Master of Finance degree program typically requires students to have an undergraduate degree in a business, mathematics, physics, or engineering discipline. Students with undergraduate degrees in business-related concentrations other than finance gain the fine tuned quantitative skills needed to conduct business within the financial industry. Students who already have strong mathematical or technical backgrounds learn how to apply those skills to challenging business problems using economic principles taught in Master of Finance degree programs.
Traditional Entrance Examination Requirements
The barriers to entry into top ranking Master of Finance degree programs are moderately high. Most schools require students to take a graduate level entrance exam like the GRE or the GMAT. While some schools purposefully do not have a minimum score requirement, it is an understood rule that top-tier schools generally only accept students with quantitative scores above the national average. Because these schools consider quantitative skills as corner stones of their finance degree programs, they typically want to ensure that students possess the foundational skills needed for success. To gain this assurance, some schools require all incoming students to attend probability and statistics refresher courses before the degree programs officially start.
Conclusion
Although no degree guarantees a career opportunity or success, the Master of Finance is a step in the right direction. Additionally, having a strong quantitative background definitely helps one gain the most out of a finance degree program. In addition to a well-earned graduate level finance degree, one experiences career success by developing the technical skills valued by employers and possessing the interpersonal abilities needed to express ideas effectively. Excellent Master of Finance degree programs help students become the well-rounded financial professionals sought after by employers.
