MASTER OF FINANCE FREQUENTLY ASKED QUESTIONS
Q: How many applications were received last year and how large is the current class?
A: For the summer 2012 application cycle, we received 647 applications for 120 spots. For summer 2013, we anticipate increasing the class size to 165 spots.
Q: When do students matriculate each year?
A: The MFIN program begins in late June with an intensive summer session. We do not offer Fall matriculation for the MFIN program.
Q: How long will it take to complete the Tulane MFIN program?
A: The MFIN is an intensive full-time program, with new enrollments starting each summer. Students complete 34 credit hours over 11 months (summer, fall, and spring) and graduates earn a Master of Finance degree.
Q: Can I extend the length of the program?
A: No. The program is designed to be completed in one academic year, starting in the summer and ending in spring of the following year. Exceptions are only allowed in the case of serious illness, with a written recommendation from a U.S. physician.
Q: Can I complete the program on a part-time basis?
A: No. The MFIN is a full-time program, with no part-time option available.
Q: When will I attend classes?
A: Classes are held at various times from Monday through Thursday. Individual student schedules may vary. Please note that the start date or class schedule days may change from year-to-year based on current enrollment numbers or other reasons.
Q: Will I take classes with other graduate business students at the Freeman School?
A: MFIN students take all core courses with fellow MFIN classmates, but would have limited opportunities to take classes with other graduate business students in elective courses. Students can bolster their interaction with other graduate business students by participating in various student organizations.
Q: Will the Tulane MFIN program prepare me for the Chartered Financial Analyst (CFA) exams?
A: As a Program Partner with CFA Institute, Tulane's MFIN Program has been shown to cover at least 70% of the material on the Level I CFA exam. It should be pointed out that a student could take a set of electives that do not cover CFA-related materials, and therefore reduce their preparation for the exam. The MFIN program should also not be thought of as a review session or "cram course" for the CFA exam. CFA suggests an average of 250 hours of preparation for each exam. Your coursework within the MFIN program at Tulane should be thought of as one part of a multi-faceted preparation process as you sit for Level I of the CFA exam.
Q: What are the advantages of the Tulane MFIN being designated as a CFA Program Partner?
A: Tulane's status as Program Partner provides several benefits for our students. First, we offer several awards each year to help students defer part of the cost of taking the CFA Level I exam. Second, a workshop is given each year on the Ethics portion of the CFA Body of Knowledge using materials provided directly from CFA Institute. Third, Tulane MFIN students have access to a free online practice test to help them prepare for the Level I exam. Lastly, CFA provides data feeds to a variety of financial market news and analysis for our students to review during their studies at Tulane.
Q: May I defer my admission to the following year?
A: The Freeman School does not defer admission decisions; however, we keep all application materials on file for two years. If you have previously applied to program, please contact the Office of Graduate Admissions for information on reactivating your application.
Q: Do you offer conditional admission to the programs?
A: The Freeman School does not offer conditional admissions under any circumstances. Applicants must submit all required application materials in order to be reviewed for an admission decision.
Q: Does the Freeman School accept transfer credits?
A: We do not accept transfer credits from any other institution. When we promote our programs to employment recruiters, we want to ensure that all Freeman graduate business students have acquired certain financial fundamentals and skill sets.
Q: What factors does the Admissions Committee consider when evaluating my application?
A: The Admissions Committee reviews applications holistically, which includes all required application materials (application form, essay, resume, academic background, recommendations, and test scores), to assess an applicant's motivation, maturity and ability to successfully complete a graduate business degree.
Q: How can I gauge my chances of being admitted to the Tulane MFIN program?
A: It is impossible for the Admissions Committee to access your suitability to the program without reviewing a complete application. Please refer to the Class Profile (link PDF) to compare your credentials with successful candidates to the program.
Q: Does the Admissions Committee require specific courses or majors as prerequisites?
A: Currently, the Tulane MFIN does not require any specific course prerequisites; however, the Admissions Committee will look for demonstrable quantitative skills. Typical candidates have business, economic, engineering or computer science academic backgrounds or have taken coursework in finance, statistics, economics, accounting, engineering, or some other quantitatively oriented field.
Q: Does the Admissions Committee require post graduate work experience?
A: We do not require post graduate work experience in the Tulane MFIN program; however, internship experience in a finance related industry is a plus.
Q: What are your application deadlines?
A: Please refer to our MFIN Application Calendar for application submission, decision notification, and confirmation dates.
Q: When should I apply to the Tulane MFIN?
A: We have seats available for each application deadline, so you should not rush to apply to meet the earliest deadline. Applicants should apply when they can provide their most competitive application. For example, if you are planning to retake the GMAT, you should wait to apply with your most competitive score. International applicants should apply by the February 1 deadline in order to ensure adequate time for I20 processing.
Q: What credentials should I submit to complete my application?
A: In order to complete an application for review, we require the following application materials:
- Online application form
- Current resume
- Post-secondary transcript(s)
- One essay
- Two letters of recommendation
- GMAT/GRE score
- TOEFL/IELTS score (international applicants only)
- Affidavit of Support with supporting financial documents (international applicants only)
Our application process is entirely paperless and all required documents must be submitted electronically via the online application. We require official documents (transcripts and test scores) at the time enrollment is confirmed.
Q: Should I provide you with hard copies of application materials or any supplemental materials?
A: Our application process is entirely paperless; therefore applicants should not mail hard copies of application materials to our office. All required application materials should be submitted via the online application system. We will not process or review any supplemental materials (personal statements, research papers, thesis, hard copies of recommendation letters, etc.) mailed to us. If you are admitted and decide to enroll in the program, we will notify you of any official hard copies we require from you.
Q: Do you provide feedback to applicants who were denied admission to the MFIN program?
A: No, due to the large volume of applications, the Admissions Committee is unable to provide specific feedback to individual applicants on admission decisions.
Q: How many applicants are placed on the waitlist and do you rank the waitlist?
A: The number of applicants placed on the waitlist varies each year. The Admissions Committee does not rank waitlisted applicants. Each applicant is reviewed both individually and against the entire applicant pool.
Q: What are my chances of being admitted from the waitlist?
A: Each year, applicants are admitted from the waitlist.
Q: Can I apply if I haven't taken the GMAT/TOEFL yet?
A: You may start your application at anytime; however, you will not be able to submit your application until you have provided all required application materials. Please note, the Admissions Committee will review applications with unofficial copies of transcripts and test scores; however, if admitted, all official credentials should be submitted prior to enrollment in the program.
Q: If I take the GMAT/TOEFL more than once, will the Admissions Committee average the scores or take the highest one?
A: The Admissions Committee utilizes the highest total score for review. Please self-report your highest score report information in the online application as well as upload a screenshot of your unofficial score report.
Q: Can my GRE score replace the GMAT requirement?
A: Yes, you may submit a GRE score in lieu of the GMAT.
Q: What is the GMAT reporting code for the Tulane MFIN program?
A: The MFIN GMAT reporting code is XVC-SG-55.
Q: What is your GRE institution code?
A: The Tulane MFIN institution code is 6832-02.
Q: Is there a minimum GPA or GMAT score required for admission?
A: We do not have a minimum GMAT or GPA requirement. Please refer to the Class Profile (linked to PDF) to compare your competitiveness against successful applicants to the program.
Q: If my GMAT or GPA is below the average, should I still apply?
A: The Admission Committee reviews applications holistically. Therefore, a below average GMAT or GPA is not an automatic disqualification to apply. However, the ranges are useful indicators of admissible standards.
Q: My educational institute does not use a 4.0 GPA scale. How should I report my GPA in the online application?
A: You should report your cumulative GPA based on the GPA reporting scale of your institution. You do not need to convert your GPA to the 4.0 scale.
Q: Who should I choose to write my recommendation letters?
A: References should be limited to those people who can speak to your skills and abilities in an academic or professional setting. References from friends or relatives will not carry the same weight. Applicants should choose professors who can speak to the applicant's skills and abilities in quantitative or finance related coursework specifically. A supervisor from a finance related internship is also a good choice for a recommendation letter.
Q: May I submit more than two recommendations?
A: The Freeman School requires two letters of recommendation. The online application will only allow you to request two letters of recommendation. We do not accept recommendation letters via mail, all recommendation letters must be submitted via the online application.
Q: Can my recommenders submit their letters of recommendation once I have submitted my online application?
A: Yes, the recommenders can submit their recommendation letters either before or after your application has been submitted. However, your application will not be completed for review until both recommendation letters have been received. Recommendations are the only part of the application process that is not under applicants' direct control, so we advise applicants to request recommendations very early in the process.
Q: What is Freeman's policy on interviews?
A: After a preliminary review of a complete application, the Admissions Committee may request an interview of select applicants.
Q: What can I expect during the interview?
A: Applicants can expect to talk about themselves, their experiences and aspirations, their undergraduate record, their leadership and group activities, and their motivation for pursuing a graduate degree at the Freeman School. Due to the geographic diversity of the Freeman applicant pool, the majority of interviews are conducted via Skype or phone. The interview is also an opportunity for you to ask the school representative questions about the program.
Q: Are there additional requirements for international applicants?
International applicants are required to submit the Affidavit of Support along with supporting financial documents (such as bank statements) in order for their application to be completed for reviewed. Additionally, international applicants we need to provide proof of English language competence by providing TOEFL or IELTS scores.
Q: What are your TOEFL or IELTS waiver eligibility requirements?
A: International students who completed two years of study at in institution where English is the primary language of instruction are eligible for a TOEFL or IELTS waiver. Please denote your waiver eligibility in the international section of the online application.
Q: What is the TOEFL institution code for the Freeman School at Tulane?
A: The TOEFL institution code is 6832-02.
Q: If I take the TOEFL or IELTS more than once, will the Admissions Committee average the scores or take the highest one?
A: The Admissions Committee utilizes the highest score for review. Please self report your highest score report information in the online application as well as upload a screenshot of your unofficial score report.
Q: Is there a minimum acceptable score on the TOEFL or IELTS exam?
A: Yes, the minimum TOEFL scores are 600 (paper based), 250 (computer based), and 100 (internet based). The minimum IELTS score is 7.
Q. I have a distance learning or online degree. Does this satisfy the educational requirements?
A: We do not accept online or distance learning degrees. International applicants must complete a traditional four year bachelor's degree from an accredited university prior to the program start date.
Q: I will not receive my official degree conferring transcript and diploma certificates until July. Am I still eligible to apply to the MFIN program?
A: Students must complete all degree requirements prior to the start of the MFIN program, but can submit final degree conferring transcripts and diploma certificate as soon as they are available - this is usually by mid to late July for international students.
Q. I have a three-year degree from an accredited university. Does this satisfy your educational eligibility requirements?
A: Please contact the Admissions Committee to determine if your three-year degree meets our education eligibility requirements.
Q: If I'm admitted to the Tulane MFIN program, when will I receive my I20?
A: We do not provide an I20 until after a student has confirmed enrollment in the Tulane MFIN. To confirm enrollment, a student must complete the commitment form, pay the $500 commitment deposit, and submit a photocopy of your passport photo page.
Q: What is current placement rate and average salary for the most recent class of MFINs?
A: to review current Employment Profiles please click here.
Q: What career management activities and resources are offered at the Freeman School?
- Conduct one-on-one coaching to help you create and realize a career plan that works
- Assist you in developing an effective resume and cover letter
- Conduct mock interviews and provide feedback to assist you in sharpening your interviewing skills
- Help you explore and navigate the job market
- Provide referrals for internships and full-time employment
- Host presentations and networking opportunities with employers and alumni
- Assist you with salary negotiations and offer acceptances
- Provide workshops and presentations to student organizations upon request
Q: Can you tell me more about Freeman Days?
Freeman Days is the premier networking, recruiting and corporate connection event that brings some of the best talent the Freeman School of Business has to offer and delivers them directly to your doorstep. Held in four cities (New York, Houston, Chicago, and New Orleans) across the country, students travel to those cities to investigate the opportunities that are available to them.
Q: What are the most common career paths taken by MFIN graduates?
A: Financial Analysts, Consulting, Investment Banking, Sales and Trading, Asset Management, Financial Services
Q: If a large amount of recruiting occurs early in the program, how can MFINs/MMG prepare with so little time at the Freeman School?
Students should start researching companies and opportunities as soon as they decide to enroll in the program. The more students know about the industry and career paths available, the easier it will be for them to focus their time on finding a position that is the right fit for them. Once students start the program it is important to schedule at least one hour each week towards their job search.
Q: Does the lack of an internship during the program affect future job prospects?
Past experiences always play a part in the decision making process for employers. Some students gain experience in the workforce through internships or part-time jobs, while others gain hands-on experiences in the classroom. Employers also prefer students who have been involved in activities outside of the classroom - student organizations, community service, or volunteer work., etc. The most competitive candidates will have a combination of these experiences.
Q: What proactive steps can students take to increase their career prospects after the MFIN degree?
The most important action students can take to increase their career prospects is to develop a strong professional network. In order to effectively do so, students must have (or develop) effective communication and interpersonal skills.
Q: What are the placement prospects for international students in the United States?
Unfortunately, placement prospects for international students are not good. The finance industry is highly competitive for all applicants - foreign and domestic - and international students are at a disadvantage. Companies also are not inclined to pay for sponsorship of an international applicant when they can hire a US citizen for less of an investment.
MERIT BASED AWARDS AND FINANCIAL AID
Q: What are the tuition, fees and program costs?
A: Please see the Cost of Attendance budget.
Q: Do you offer fellowships (scholarships) in the MFIN program?
A: The Freeman School selects a minimum number of domestic (U.S. citizens or U.S. permanent residents) MFIN students to receive partial merit based fellowships. All domestic applicants are automatically reviewed for a fellowship award at the same time as the admissions decision.
Q: What types of financial aid (student loans and work study) are available to students?
A: U.S citizens and permanent residents may apply for federal need-based financial aid in the form of student loans and work study to cover all educational expenses (tuition, fees, room, board, books, travel and miscellaneous expenses) up to the cost of education. In order to be considered for federal financial aid as a graduate student (no parental data required), students must complete the Free Application for Federal Student Aid (FAFSA) by visiting www.fafsa.ed.gov and request that their information be sent to Tulane University.
Q: What types of financial aid are available to international students?
A: International students may apply for an Alternative Loan, however, a credit worthy cosigner who is either a U.S. citizen or permanent resident is required.