Introduction
The University of Michigan Master in Finance degree prepares students for exciting jobs in corporate finance, financial institutions, and investment management. The University of Michigan MFin can help you thrive in finance-related careers, whether you choose the corporate finance or investments emphasis.
The University of Michigan-Dearborn students have a competitive advantage. Its Bloomberg Finance Lab allows students to evaluate a massive amount of real-time market data while earning their Bloomberg certification. In addition, students can manage an investment fund with real money in their Investment Fund Management course, and they can also use the lab on their own.
| Tuition Fees | $14,944 |
| Program Length | 12-16 months |
| Program deadline | February 9, 2024 April 5, 2024 |
University of Michigan MFin Class Profile
The class profile of the University of Michigan Master in Finance program will be extremely diverse, as students from different nations join the program and come from different sectors. The class profile showcases a blend of academic excellence and global representation. With an average undergraduate GPA of 3.73, the students demonstrate strong academic backgrounds. Despite the fact that the students join the Michigan MFin to learn, their unique experiences, and mindset bring a new perspective to the class.
| Class Size | 77 |
| Average Age | 28 |
| Average GPA | 3.3 |
| Average GMAT | 532-610 |
| Average Work Experience | 5.4 Years |
| Application Fees | $60 |
Acceptance Rate
The acceptance rate of the University of Michigan Master in Finance is 49%. So, the majority of the applicants have a fairly high chance of getting accepted by the university for Michigan MFin program. Of course, students need to meet the bare minimum criteria for admission and submit all the relevant documents to confirm their seat at the university.
Acceptance Rate: 49%
Program and Curriculum University of Michigan MFin
The University of Michigan MFin Program comprises two concentrations that equip them to deal with all the financial aspects encountered at the workplace.
Students must select either the Corporate Finance or the Investments concentration below.
These concentrations and the core courses for both are listed below:
Corporate Finance Concentration
The University of Michigan MFin with Corporate Finance Concentration is available to the students on campus, online or a combination of both. The Corporate Finance Concentration prepares students to work with financial methods and tactics to solve financial problems in any enterprise. This concentration comprises Foundation courses, Required courses, Accounting electives, and General electives.
Foundation Courses
The Foundation Courses at the University of Michigan Ross School of Business's Master of Finance (MFin) program serve as the bedrock for students, laying a solid groundwork for their advanced financial education.
| Course | Description |
|---|---|
| Developing and Interpreting Financial Information | Explore financial reporting and analysis, interpret financial statements, and make informed business decisions. |
| Economic Analysis: Firm and Consumer | Delve into microeconomic principles, analyze firm and consumer behavior, and understand market structures and pricing strategies. |
| Applied Statistical Modelling | Develop proficiency in statistical modeling techniques for decision-making, analyzing financial data, and assessing risk. |
| Finance Fundamentals and Value Creation | Gain foundational knowledge in finance principles, exploring risk and return, time value of money, and value creation strategies. |
Required Courses
The Required Courses in the Michigan Ross Master of Finance (MFin) program are carefully curated to provide students with a well-rounded and in-depth education in finance
| Course | Description |
|---|---|
| Topics in Corporate Finance | Dive into advanced concepts like capital structure, mergers, and financial decision-making in a dynamic business environment. |
| Corporate Valuation and Strategy | Learn corporate valuation intricacies and their role in strategic decision-making, contributing to effective business strategies. |
| Derivatives and Risk Management | Explore financial derivatives and risk management strategies, gaining insights into hedging techniques and risk optimization. |
Accounting Electives
The Accounting Electives offered in the Michigan Ross Master of Finance (MFin) program provide students with the opportunity to delve deeper into the intricate world of financial reporting and analysis.
| Course | Description |
|---|---|
| Financial Reporting | Explore principles and practices of financial reporting, preparing and analyzing financial statements with adherence to regulations. |
| Advanced Financial Accounting I | Dive into complex financial accounting topics, covering advanced reporting issues, consolidation, and accounting for multinational corporations. |
| Cost Management | Understand principles of cost accounting and management, exploring methods for analyzing and controlling costs to support decision-making. |
| Introduction to Federal Income Taxation | Gain an overview of federal income taxation, understanding fundamentals of taxation laws and their implications for individuals and businesses. |
| Information Technology Auditing | Explore the intersection of information technology and auditing, learning to assess and manage IT risks for the integrity of financial information. |
| Management Control Systems | Delve into management control systems guiding organizational performance, exploring techniques for planning, monitoring, and improving decisions. |
| Financial Statement Analysis | Develop skills in analyzing financial statements for decision-making, understanding how to assess a firm's performance, health, and risks. |
| Advanced Federal Income Taxation | Build on your understanding of federal income taxation, covering advanced topics and regulations with a focus on complex tax issues and planning strategies. |
General Electives
The General Electives in the Michigan Ross Master of Finance (MFin) program offer students the flexibility to tailor their academic experience to align with their specific career aspirations and interests within the finance domain.
| Course | Description |
|---|---|
| The Global Economy: Crisis and Growth | Examine the global economy, crises, and growth opportunities. Analyze economic trends, policy implications, and strategic responses internationally. |
| Investment Process, Analysis and Management | Gain insights into the investment process, analyze financial instruments, assess risk-return profiles, and make informed investment decisions. |
| Banking, Insurance, and Fintech | Explore the financial landscape with a focus on banking, insurance, and fintech. Understand the impact of technology on traditional financial models. |
| International Financial Management | Navigate the complexities of managing finances globally. Explore international capital markets, currency risk, and strategic financial decision-making for multinational corporations. |
| Fixed Income Securities | Delve into the world of fixed income securities. Understand bond markets, valuation techniques, and the role of fixed income instruments in investment portfolios. |
| Investment Fund Management | Explore the principles and practices of managing investment funds. Learn portfolio management strategies, asset allocation, and the responsibilities of fund managers. |
Student Club
There are numerous student organizations at the University of Michigan to choose from. Student clubs are a fantastic way to gain new skills, meet new people, and become more involved in the University of Michigan community.
Sponsored Student Organisations
- Doctoral Student Organisation (DSO)
- Health Informatics Student Organisation (HISO)
- Master of Applied Data Science Association (MADSA)
- School of Information Master’s Association (SIMA)
Voluntary Student Organisations
- A2 Data Dive
- Alpha Theta Delta (ATD)
- American Library Association (ALA)
- Black@SI
- Developer Student Club (DSC)
- Kappa Theta Pi
- Learning and Education Technology at the School of Information (LETSI)
- Michigan Sports Analytics Society
- OUTformation
- Reach Consulting Group
- Society of American Archivists (SAA)Student Organisation for Computer-Human Interaction (SOCHI)
- Student Organisation for Data and Analytics
- Tech for Social Good (T4SG)
- Upsilon Pi Epsilon (UPE)
- Professional Student Organisations
- Alpha Kappa Psi
- American Marketing Association (AMA)
- Beta Alpha Psi (Accounting and Finance Honours)
- Financial Management Association
- Information Systems Management (ISM) Association
- Society for Human Resource Management (SHRM)
- Supply Chain Association (SCA)
- Women in Business
Eligibility and Requirements
Eligibility
Here is a list of University of Michigan eligibility and requirements:
- A student seeking admission to the University of Michigan Master in Finance program must have completed a four-year bachelor’s degree from a recognized university in the USA or an equivalent degree in a related field of study.
- A “C” or better in college algebra, finite maths, pre-calculus, or calculus courses as undergraduates. (If you haven’t met this prerequisite yet, the university will work with you to find a suitable system before or after you are admitted.)
- You must have taken the GMAT or GRE within the last five years. The GMAT and GRE may be waived for applicants with three years of professional job experience and a degree in business or engineering.
- Since the University’s whole curriculum is taught in English, international students must demonstrate English competence by clearing one of the following tests with a minimum score: 220 on the Computer-Based TOEFL, 80 on the MELAB, 84 on the Internet-Based TOEFL, 6.5 on the IELTS.
- Applicants who have obtained or will acquire an approved bachelor’s or master’s degree from a college where the mode of instruction is English are excused from taking an official English proficiency test.
- Personal statement showing the purpose of joining the program inspired by the applicant’s real-life experiences. The personal statement should be brief and clear.
Application Fees
- The application fee for Michigan Ross MFin cost may vary each year, so it's recommended to check the official website or contact the admissions office for the most accurate information.
- Application fees are typically non-refundable and must be paid during the application submission process.
Application Documents
- Online Application
- Statement of Purpose
- Resume or CV(2-page limit for Masters applicants)
- Letters of Recommendation
- College/University Transcripts
- English Language Proficiency
- Test Scores (GRE/GMAT)
- International Transcript Evaluation
University of Michigan MFin Deadlines
The College of Business at the University of Michigan has 3 intakes for its MFin program. Students can apply for either Fall (September) intake or Winter (January) intake or Summer(May) intake. Below table shows the deadline dates for the three intakes for both domestic and international students enrolling for the University of Michigan Master in Finance:
| Deadlines | Dates |
| Round 1 | February 9, 2024 |
| Round 2 | April 5, 2024 |
Employment And Placement
Students at the College of Business learn about business outside of the classroom by participating in professional activities. Students at the University of Michigan Master in Finance gain experience by participating in industry-specific clubs and organisations.
Internships and other resources, such as iLabs and the BELL, provide them with practical experience. In the career coaching programme and at flagship events like the Executive Speaker Series, they network with corporate executives. The university also offers support and resources to help students thrive, whether it’s establishing a career or seeking extra assistance in a class.
- Bloomberg Finance Lab
- Business Communication Lab
- iLabs student Opportunities
- Internship and Career Management Centre
| Average starting salary | The Michigan Ross Master of Finance (MFin) program boasts an impressive average MFin salary for its graduates, with a reported figure of $104,000. This robust salary statistic reflects the program's success in preparing students for lucrative financial roles. |
| Employment Report | The Michigan Ross Master of Finance (MFin) program prides itself on an outstanding employment report, with an impressive average placement rate of 95%. This remarkable statistic underscores the program's commitment to providing students with the skills and knowledge required to secure rewarding positions in the finance industry. |
Top Sectors Hiring
Top sectors actively hiring Michigan Ross MFin alumni include investment banking, asset management, consulting, and financial technology (fintech). The program's comprehensive curriculum, coupled with industry connections and career support, equips students with the skills and knowledge demanded by these sectors.
| Consulting | Finance | Technology |
| EY | MidCap Financial | Amazon |
| McKinsey & Co. | Citi Bank | Apple |
| PricewaterhouseCoopers | Matercard | Intel |
| Bain & Co. | Wintrust Financial Corp. | IBM |
| KPMG | HSBC | Accenture |
Alumni Info
Students of University of Michigan Master in Finance get a chance to join a vast Alumni network of a whopping 5,75,000 alumnus belonging to diverse educational and professional backgrounds. The Graduates of the Last Decade Alumni Affiliate (GOLD) gives recent UM-Dearborn graduates the chance to network with other alumni and connect to the university. GOLD also connects current students with recent graduates and alumni events. Providing a way for those who graduated within the last ten years to remain involved:
- With other Alumni
- With the help of the university
- With New and Experienced Students
In addition to this, students can also connect with the alumni through the following ways:
- Taking up the College to Career Coaching Program
- Sponsoring a Class Project
- Visiting or Speaking in a Class
- Participating in Mock Interviews
- Engaging in Professional Development Programs
- Connecting with Student Organisations
Some Famous Alumni
David Barger – Co-founded JetBlue Airways as president and chief operating officer
Lauren Weiner – CEO and co-founder of WWC Global
Niklas Zennstrom – Co-founder of Skype
Martin Lau – President of Tencent Holdings
Application Essay
Michigan Ross University's MFin program which is one of the best MFin Colleges in USA) typically asks applicants to respond to specific essay prompts. These prompts are designed to evaluate your understanding of finance, your career goals, and how the MFin program aligns with your professional aspirations. It's essential to read each prompt carefully and understand what it's asking before you begin writing.
Letter of Recommendation
The University of Michigan' Master in Finance will require only 1 letter of recommendation from its applicants to the MFin program. The letter of recommendation can come in from either an academic referee or a professional referee. If you have considerable work experience then a letter of recommendation must preferably be from a professional referee.
Interview Questions
Preparing for the Michigan Ross Master of Finance (MFin) interview involves a thorough understanding of the program and a strategic approach to showcase your skills and aspirations. Typical interview questions for the MFin program may cover your academic background, professional experience, reasons for pursuing the MFin, and how the program aligns with your career goals.
SET 1
Q: Do you have a system for managing your time?
Q: Describe a time when you had to work under high pressure.
Q: What is the most difficult (work-related) decision you have ever made? What happened? What did you learn?
Q: How do you define leadership?
Q: Describe a time when your leadership made a difference.
Q: Describe a situation when you had to provide negative feedback to a team member or co-worker.
Q: Describe a time when your leadership was challenged. How did you respond to it?
Q: Discuss a situation where you had to persuade someone to agree with your point of view.
Q: Describe a time when your initiative made the difference in achieving a personal or group goal.
Q: Describe a time when you took the initiative to create or improve something.
SET 2
Q: What are the biggest mistakes you have made and your greatest accomplishments?
Q: What is your biggest disappointment/failure in life?
Q: Give an example of an instance when you developed a strategy and executed it.
Q: How do you usually make decisions?
Q: Talk about a time when you had to make a decision without complete information.
Q: Talk about a time when you challenged or changed the status quo.
Q: Tell me about a time you came face to face with an ethical dilemma.
Q: Who do you admire? And Why?
Q: What do you perceive to be more important, intelligence or hard work?
Q: Describe a time when you had to learn something that was difficult for you. How did you approach learning it?
What Makes University of Michigan MFin Unique
Is MFin worth it? Here are a few facts about University of Michigan Master in Finance that makes it unique-
- A Michigan Ross MFin allows you to work for some of the world’s most prestigious companies.
- Michigan Ross’s MFin helps you get where you want to go and do what you want to do and prepares you to make an immediate impact.
- The majority of Ross Full-Time MFin graduates are job changers. Within three months of graduation, a large percentage of graduates obtained job offers.
- Over half of Michigan Ross MFin graduates work in technology or consulting, with Amazon, McKinsey, Deloitte, and Microsoft among the top MFin employers. They’re also drawn in by the school’s reputation.
Conclusion
One of the best options for courses that provides in-depth learning in finance is the Master of Finance. Dearborn is consistently ranked among the top institutions in the world and offers an MS in Finance from the University of Michigan. Due to the high graduate employment rate at the University of Michigan, Dearborn, international students favour this course.
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