MIT MTIn information session 记录 12月13日

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小妹把今天的MFin 的online chat的内容全部记录下来了，请各位参考。

MIF MFin online chat 记录整理

Q:	I am thinking of applying to the 18th month program because I think doing an internship in an American corporation will be a tremendous advantage for my early career as an international student and moreover having the chance to write a thesis afterwards in my last term. What other advantages do you think are included to the 18 month program?
A:	The degree requirements for the 12 month and 18 month format are exactly the same. The major differences are the length of the program and that the 18 month allows an opportunity for a summer internship. In addition, the 18-month format allows for students to take additional electives if they choose.

Q:	I am curious how quantitative is master of finance?
A:	The MFin program is a deep dive into finance theory and methodologies, so there is a significant amount of quantitative coursework.

Q1:	Do I able to waive for English Test requirement if my entire undergraduate degree was in English?
Q2:	I’m from India where courses are taught in English, do I still need to take the English proficiency test?
A:	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). Applicants who studied in English in other countries, for example, India, Pakistan, the Philippines, Hong Kong, Singapore, etc., are not exempt from the English language requirement.

Q:	Could you reveal some admission statistics data?
A:	Last year we received over 2,000 applications. Generally, after the application deadline, there is a review of applicants and a subset are invited to interview in person. There are several hub cities where we conduct interviews including on campus. About 1/3 of the applicants are invited to interview and we typically seat a class of between 115-125 students.

Q:	I am wondering can I use three academic reference?
A:	If you have had any full-time or internship experiences, we require a professional recommendation.

Q:	I am seven years out school. Can I use three professional references and can they sent the letters they wrote to admission, instead of answering specific questions online?
A:	You can use the professional references in your case. We prefer that they answer the specific questions however. Do not have to be in Q&A format, but can be in paragraph form too.

Q:	How many students will this program take next Fall?
A:	We will be looking to admit between 115-125 students.

Q1:	Hi I am wondering whether a heavy quantitative background is a prerequisite for the program. I have a finance undergraduate degree but haven't taken many of the mathematics classes mentioned in the application process at a college level?
Q2:	Do I need a strong quantitative background to enter?
A:	Having a significant amount of the maths or additional relevant coursework is very helpful as the program requires students to take advanced courses in financial mathematics among others.

What is in your opinion the major advantage of the MFin of MIT compared to other Universities in for example Europe?

The MFin program provides students with the opportunity to collaborate with students from a variety of backgrounds as well as with students from MIT overall. That translates into being on class projects potentially with students in the MBA, EMBA, Sloan Fellows and PhD programs who bring many years of prior experience and backgrounds. Additionally, MIT Sloan has a strong emphasis on Action Learning e.g. applying the theory learned in the classroom with practical application. During the month of January, for example, there are no classes at MIT and students have the ability to take an Action Learning lab in Finance assigned to a company sponsor who has a real world problem to solve. Additionally, our students can cross-register with Harvard.

How you would describe an ideal candidate for your program?

We do not have a standard typical candidate for our program as the students who join our program come from a diverse set of backgrounds. The traits that many of our applicants have in common is evidence of strong academic success, a sense of collaborative team spirit and a passion for finance. Given the quantitative rigor of our program, having a strong quantitative background is also very helpful.

Q:	I am curious to know the top 3 qualities in candidates you are looking for?
A:	It's hard to point out 3 specific qualities we look for as there are many qualities that can make a candidate successful in our program. Qualities such as strong undergraduate academic performance, a strong quantitative foundation, curious problem solvers, collaborative team players and a passion for finance are all qualities we seek to find in our applicants.

Q:	What’s the time breakdown would you say that we will spend on theory and applications?
A:	The breakdown on theory vs application will depend on your course selection. Some of our courses are action learning labs that are strictly practical learning, whereas other courses will be a combination of theory and application.

Q:	How competitive was the pool last two years?
A:	Last year is the most relevant and we received over 2000 applications to seat a class of 114.

Do students do part-time internship while they attend school?

Students do not typically take on formal internships during their course of study, although there are multiple opportunities for practical, hands on learning during the program. The Finance Research Practicum is a graduate-level finance elective course in which students work in teams on projects proposed by external sponsors. The goal is to provide students with an outstanding opportunity to work with leading industry practitioners on important business problems, while helping them bridge the gap between theory and practice, and introducing them to the broader financial community. In addition, students in the 18 month format will have the opportunity for a formal summer internship.

Q:	Hi, what kind of transcripts do we need to provide? Do we scan it and upload it online?
A:	We require transcripts from all schools in which you have earned a degree or taken courses that count towards your degree. You will be asked to upload those directly into the application.

For those of us applying with many (seven) years of experience, can you talk about internship and job opportunities - are there more senior so to sy internships and do companies recruit for VP or similar positions out of the program? How many vs junior position etc? Any color is appreciated?

Although every year there are a few students who have more than 4 years prior work experience, the program is geared towards entry-level or early-stage professionals. As such, the types of jobs that our students are entering are at the analyst level. However, it is up to the employer to determine which job level is appropriate and make those decisions. I would encourage you to visit our Employment Report on the website for much more detail.

Q:	Is it common for people from various backgrounds, like civil engineering in my case, to apply to your program? In my case, having done two internships triggered my interest and thus I pursue studies in Finance ever since. How do you think I should write about this career change in my cover letter? I only have 500 words so I need to be careful?
A:	Our students come from a variety of backgrounds and disciplines. There are some students who have an engineering background and certainly demonstrating quantitative and analytical skills will be helpful. I would explain in your essay how you believe your background aligns with an advanced finance program and provide insight into your understanding of the subject and career goals.

Q:	My major is BA Economics. I didn't take too many math courses at school. Is it a big problem to apply for MFin?
A:	Given the quantitative rigor of our program it is helpful to have a strong quantitative foundation prior to joining our program, though it is not required.

Q:	Can you explain the difference between Finance Research Practicum and Finance Proseminars. I was confused by the information on the website?
A:	The Finance Research Practicum is offered only in the month of January when there are no classes so it is a longer time period to spend on the company sponsor project. Our students typically take both a proseminar and FRP.

Q:	How long before applying should one take the GMAT?
A:	Applicants can take the GMAT as late as our application deadline on January 5, 2017. As long as you have scores available to self report by our deadline, you are eligible to apply. You will also need to ensure that an official score report is sent to us.

Q:	Malaysia government do not have educational loan for oversea study. Therefore, I need loan or grant to cover for daily living expenses. Is there study loan for international Student?
A:	We offer a limited number of fellowships to admitted students based on merit; however, the fellowships will not cover the full cost of tuition. There may be other scholarships and/or loans that we list on our website and most students will pursue funding in a variety of sources.

Q:	I heard that last year some applicants who didn't get in MFin would have a chance to try Master of Business Analytics, is it true?
A:	Applicants are eligible to apply to both our MFin and Masters of Business Analytics program. The MFin application deadline is on January 5, 2017 and the Masters in Business Analytics deadline is January 9, 2017. The application processes are completely separate and applications will be reviewed by two separate admissions committees.

Q:	How do the admission timeline look like? Do you usually start reviewing candidate profiles only after deadline?
A:	There is one deadline on January 5th and we review applications after the deadline. A subset of applicants will be invited to interview and the interviews will take place in several hub cities globally during the month of February as well as on our campus.

Q:	Will the result of MFin application affect my future applications, say MBA program?
A:	All of our MIT Sloan programs have separate admissions processes and you may apply to multiple programs.

Q:	Since academics are a major consideration, apart from the undergrad scores/ GMAT scores, are there any extra courses that could help make my application stronger?
A:	Taking quantitative coursework such as Calculus, Statistics, Linear Algebra, Probability, Econometrics, Programming, etc would be a valuable asset to an application.

Q:	Can an applicant submit the English proficiency score after submission of the online application form? Or does it have to be submitted along with the form?
A:	We expect applicants to provide all of their materials by the January 5th deadline and we accept self-reported language and GMAT/GRE test scores.

Q:	I have applied to a two year program in France which has the option of doing the MFin in MIT in the second year so as to complete a dual degree. Is it possible for me to apply to the MFin in MIT now and defer it by one year?
A:	we ask that you apply to the program in the year you are planning to enroll.

Q:	Do you accept more than 3 recommendation letters?
A:	We can only accept 3 recommendation letters.

Q:	I know that MFin program in MIT is one of the most competitive MFin master programs in the states. I wonder what is the profile of students who were admitted to the program in previous years? To your knowledge, what is the GPA and GRE scores to be considered qualified in term of scores?
A:	I encourage you to take a look at our current class profile to get a sense of applicants who have been successful in being admitted to our program. Our profile highlights academic backgrounds, GPA, GMAT scores, etc. You can find the profile here on our website: http://mitsloan.mit.edu/mfin/admissions/

Q:	If we select both 12 and 18 month program, I know that I'll firstly be considered for 18 program. But if it is not applicable to 18month, will my application be further proceeded in 12 month?
A:	If you select both program formats, you will be admitted to the 12 month and we will let you know whether you have also been admitted to the 18-month or on a waitlist.

Q:	I wonder that do you have some target schools for admission?
A:	We admit students from students from a wide variety of academic institutions across the world. We seek to have a diverse group of students from a variety of different backgrounds, both academically, professionally and culturally.

Q:	Since it is not required to submit a TOEFL, how do you measure English speaking ability?
A:	Actually, we do require the TOEFL or IELTS. We measure this during personal interviews. This is our best gauge of English ability. We will also use the verbal sections of the GMAT or GRE to evaluate English language ability.

Q:	I've successfully gotten one of my referees to submit his recommendation letter; however, another referee is having issues with receiving the email reminder. Has there been other people who have reported this issue? It is not going to their junk folder, either?
A:	Could you please email mfinadcom@sloan.mit.edu and someone will provide help regarding your referee's issue.

Q:	Do you have a cut-off TOEFL or IETLS score line?
A:	We do not have cut-off scores for any of our test requirements.

Q:	Do students without a strong maths background still have an opportunity to get into the program?
A:	Math is one of the ways an applicant demonstrates quantitative and analytical abilities. That said, there are other disciplines and courses that provide insight into these skills.

Q:	How many percentages of 125 incoming students are taking 12-months track?
A:	We are targeting 115-120 students total for our incoming class: 30-40 students for our 18 month format with the remainder of students being in the 12 month format.

Q:	I am thinking of submitting a recommendation letter from one of my former employers. It was an internship unrelated to finance but I think he would speak highly of me. What do you think about that?
A:	As long as you are comfortable with the other background information you provide us about your interest in pursuing finance and it is from your most recent internship, that would be helpful.

Q:	Can I mention about my academic project during undergrad even if it is more than 3 years ago?
A:	We recommend using examples from the past three years, but if you feel it would be valuable for the admissions committee to know about it, you should feel free to include it.

Q:	Just a quick question, the deadline is Jan 5th, is it possible take GRE again at the end of December?
A:	Yes, we will accept your self-reported scores by the deadline.

Q:	May I ask what kind of information are you looking for or say the criteria you assess in 18 month program? Thanks a lot?
A:	We are looking for specific detailed information on why you would like to be considered for the 18 month format and how the 18 month format will be helpful for you in achieving your goals.

Q:	If we do pick up some additional courses, are there specific websites/ organizations that are recognized?
A:	We do not have websites that we recommend for additional coursework. You would need to upload the certificate and grades in your application.

Q:	Would a 2 year work experience in Financial Due Diligence with a Big 4 company suffice?
A:	Having work experience prior to joining our program can be helpful, but is not required. On average, our students have 0-4 years of work experience with a bulk of our students in the 0-2 range. This year approximately 70% came directly from their undergraduate studies.

Q:	Can a student apply to the 12 month format and shift to the 18th month format while at MIT?
A:	If you are unsure about which format suits your goals and objectives, please check the box for both 12-month and 18-month.

Q:	Do you give importance to AWA and IR part of GMAT?
A:	The AWA and IR part of the GMAT are additional data points in our assessment, but do not carry a lot of weight.

Q:	I notice that in the employment report on your website, the average full-time work experience prior to MIT Sloan is 17.5 months. It is being said, although working is not a prerequisite, it is highly recommended? How large percentage of students from a class has working experience? Thank you?
A:	The 17.5 months of work experience includes any internships as well. That said, working is not a prerequisite; however, it is helpful to see that you have had some internships while at university.

Q:	I will submit my application in a couple of days in order to prevent any delays for my recommenders to submit their letters of recommendation, however I won't obtain certain certifications I claim in my resume and application until late December -- still before the deadline. Is it ok to submit my application earlier, and then email you these extra certifications in a pdf form?
A:	I highly recommend that you wait until you have all of your information before submitting your application. There is no benefit to submitting your application before our January 5th deadline as we will not begin reviewing files until after the application deadline.

Q:	I had a question on the 18-month program. Since the 18 month program has 30 seats and 12 month program significantly more, would it lower my chances to apply for the 18-month program or am I automatically considered for the 12-month program too?
A:	There is no special way to approach the choices in the application. If you truly would like to be considered for both formats, you should by all means check that box.

Q:	Just to clarify on the requirement for submitting GMAT, as the website says self-reported score accepted, does it mean a report directed issued from Pearson is not necessary prior to the submission?
A:	You must request the official report from the testing services for all required tests--we accept the self-reported scores for the purposes of having your file be complete by the deadline.

Q:	Does an excellent GRE score balances out an average-good GPA? In my case, even though I ranked at the top 10% of my class, my GPA is 8.1/10 my GPA is not with honors. Does the GPA conversion takes into account the percentile performance among my peers? Should I convert it to a scale of 4.0?
A:	You do not need to convert your GPA to a 4.0 scale. In the application, you will be asked to submit your GPA as well as the scale. A strong GRE can certainly balance out a lower GPA. Keep in mind that our application process is very holistic and we are looking at all of your attributes.

Q:	Possible to work in US after graduate from MIT Sloan for international student since most of the company refused to sponsor the work permit for international student?
A:	Graduates of the MFin program have been able to find opportunities to work in the US...please take a look at our current Employment Report on the website for more details. That said, it is up to the individual employer to make the decision as to whether they hire an international student.

Q:	Is it the same for TOEFL? As long as i have scores available to self report by the deadline?
A:	Yes, as long as you can self report your scores by our deadline, that is fine. Similar to the GMAT/GRE, we also ask that you ask TOEFL to send your official score report to our office.

Q:	1. What should I write in my PS and how long should it be? 2. When will I know the result of the application if I complete my application just by the deadline?
A:	There are 3 parts to the main essay in our application that you should answer for a total of 500 words or less. After the January 5th deadline, we will review applications and invite a subset of applicants to interview in person in the month of February.

Q:	Is there a minimum score for the TOEFL?
A:	we do not have a minimum TOEFL score. We will be using your TOEFL score a one assessment of your English language skills. English will be further assessed during the interview process.

Q:	I have applied to a two-year program in France which has the option of doing the MFin in MIT in the second year so as to complete a dual degree. Is it possible for me to apply to the MFin in MIT now and defer it by one year?
A:	Please apply only in the year that you are planning to enroll in the MFin program and not in advance as we do not typically approve deferrals, but will consider on a case-by-case basis.

Q:	How should a student with a science background for undergraduate studies such as Biology, Chemistry, or Physics prepare for MS in finance?
A:	I would encourage you to take advantage of an internship in finance to demonstrate your interest in pursuing the MFin degree.

How many current students choose to have a concentration?

Students are not required to choose a concentration. We encourage students once they are admitted to begin thinking about a concentration and whether or not they would like to pursue one as it does require some advance planning to complete the requirements during the duration of the program. We will not have specific concentration data until the end of this year when we can see exactly how many students have completed the concentration requirements.

Q:	Can you tell me approximately how many of your students come with more than 4 years of experience? Can a student apply for MBA and MFin and does that impact chances of admission to either?
A:	About 70% of our students come to the MFin program directly from undergraduate/bachelor’s degree. You can apply to multiple MIT Sloan programs and each program has their own admissions processes.

Q:	What kind of questions are you asking in the interview rounds? Are they about the candidate or more technical questions?
A:	Our interviews are behavioral and we will be asking questions regarding your past accomplishments and experiences.

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