Key Takeaways
Program Overview: The MIT Master of Finance is a comprehensive program aimed at equipping students with the necessary skills and knowledge to excel in the finance industry. The curriculum covers a wide range of topics including financial engineering, risk management, and quantitative analysis, ensuring graduates are well-prepared to tackle complex financial challenges.
Class Profile: The MIT MFin Class of 2023 is composed of a diverse group of students. With a median GMAT score of 730 and an average GPA of 3.8, the program attracts top talent from around the world. Students bring varied professional experiences, contributing to a rich learning environment.
Average Salary and Employment: Graduates of the MIT MFin program enjoy excellent career prospects. The average base salary for our graduates increased 13% to $125,354, and the median base salary increased over 9% to $120,000. The program boasts a high employment rate, with the majority of students receiving job offers within three months of graduation.
Tuition Fees: The tuition fee for the MIT MFin program is $91,250 per year. Additional costs, including living expenses and other fees, bring the total estimated cost for the program to approximately $124,875 for 18 months.
Introduction
Are you considering pursuing a Master of Finance (MFin) at MIT?
The MIT Sloan School of Management offers one of the most prestigious MFin programs, designed to prepare students for a thriving career in finance. With a rigorous curriculum, unparalleled faculty, and access to a powerful network, the MIT MFin program stands out as a top choice for aspiring finance professionals.
In this blog post, we'll delve into the key aspects of the program, including the class profile, employment statistics, average salary, and tuition fees, to help you make an informed decision.
| Tuition Fees | $124,875 for 18 months |
| Program Length | 18 Months |
| Program deadline | 1 April 2024 3 August 2024 |
| Application Fees | $250 |
Class Profile of MIT MFin
The MIT Master of Finance program is a highly selective and rigorous graduate program that attracts top talent from around the world. The USA has some of the best colleges for an MFin program.
| Average GMAT | NA |
| Average GRE | 166-170 |
| Average GPA | 3.83 |
| Average Work Ex. | 17 months |
| Average age | NA |
| International Students | 90% |
| Class size | 127 |
| Women MFin 2023 |
36% |
| Country Represented MFin 2023 |
32 |
The MFin Student Experience-
MIT MFin Rankings
The MIT Master of Finance (MFin) program consistently ranks among the top finance programs globally. According to the QS Business Master’s Rankings 2024: Finance, the MIT MFin program is recognized as one of the leading master's in finance programs
| Rankings | Position |
| QS Business Master’s Rankings 2024: Finance | 4 |
| QuantNet 2024 Rankings: Best Financial Engineering Programs | 10 |
Program and Curriculum of MIT MFin
The MIT Master of Finance offers the experience in 12-month and 18-month formats and combines required courses and electives and also MIT MFin curriculum is very diverse as it provides thr basics as well as advanced foundation to it's students.The exact degree requirements would be completed over three or four semesters. In addition, the 18-month format allows students to complete an internship and some additional coursework in the fall intake.
- Finance Theory: This course delves into the fundamental principles of finance, including the time value of money, risk and return, and asset valuation.
- Financial Mathematics: Students learn advanced mathematical techniques used in financial modeling and analysis.
- Financial Accounting: This course provides a solid grounding in accounting principles and practices, essential for analyzing financial statements and making informed financial decisions.
- Data Science and Machine Learning: An introduction to data science methods and machine learning techniques applied in financial contexts.
Electives
The program offers a wide range of electives that allow students to tailor their education to their specific interests and career goals. These electives cover various advanced topics in finance and related fields, such as:
- Derivatives Markets
- Fixed Income Securities
- Quantitative Investment Strategies
- Risk Management
- Corporate Finance
Research Centres
The MIT Sloan School of Management is home to several renowned research centers that support the MFin program by providing students with opportunities to engage in cutting-edge research and practical applications of finance theories. Notable centers include MIT Laboratory for Financial Engineering (LFE), MIT Center for Finance and Policy (CFP), MIT Golub Center for Finance and Policy (GCFP).
The Impact of Action Learning
Fees & Financing
The MIT Master of Finance services (MFin) program involves several costs, including tuition, application fees, and other mandatory fees. Below is a detailed breakdown of these expenses:
| Tuition Fee for 18 months | $124,875 |
| Tuition Fee for 12 months | $91,250 |
| Health insurance for 18 months | $3,237 |
| Health insurance for 12 months | $3,237 |
| Application fees | $250 |
Note: Cost of Health Insurance (unless waived): $3,237 ($1,349 fall/$1,888 spring).
Employment Upon Graduation
The MIT Master of Finance (MFin) program boasts impressive employment statistics for its graduates. The program's strong industry connections and rigorous curriculum prepare students for successful careers in finance. Here are some key MIT MFin 2023-2024 Employment Report outcomes:
| Average salary MFin 2024 |
$125,354 |
| Offer accepted upon three months of graduation | 93.2% |
| Offer received upon three months of graduation | 98.3% |
| Reporting rate | 99.2% |
| Post-program job locations | USA 61.9% ASIA 20.4% EUROPE 16.8% |
| Post MFin industries | Finance 80.0% Consulting 16.5% Other 3.5% |
Know more at: Career Resources | MIT MFin
MIT MFin Application: Essays & Interview
Each applicant must submit MIT Master of Finance essays. This is your opportunity to help reviewers better understand your academic objectives and determine if you are a good match for the field you are applying for.
Essays
The application process for the MIT Master of Finance (MFin) program includes a set of essays that provide candidates with the opportunity to showcase their experiences, goals, and fit for the program. The essays are a crucial part of the application, allowing the admissions committee to understand each applicant's unique background and aspirations. As of the latest application cycle, the required essays include:
Essay 1
Please discuss your past academic and professional experiences and accomplishments that will help you succeed in the Master of Finance program. Include achievements in finance, math, statistics, and computer sciences, as applicable.
Essay 2
What personal qualities will enable you to contribute to the advancement of our mission?
Essay 3
Introduce yourself to your future classmates. Here's your chance to put a face with a name, let your personality shine through, be conversational, be yourself. We can't wait to meet you!
Essay 4
All MFin applicants will be prompted to respond to a randomly generated, open-ended question.
Interview Questions
The interview is an important component of the MIT Master of Finance application process. It is typically conducted by invitation only, following a review of the submitted application materials.
Who attends the MIT MFin program:
- Strong Quantitative and Analytical Skills
- Students need to be adaptable and resilient, able to manage the workload effectively
- Students should be enthusiastic drives motivation and engagement throughout the program
- Ability to work well in teams and exhibit leadership qualities is highly valued
- Strong written and verbal communication skills are essential for articulating complex financial concepts clearly and concisely
- Critical thinking and problem-solving skills are vital
Why MIT is Unique?
Is MIT MFin worth it? The MIT Master of Finance program is a unique program that provides students with an eminently balanced education while also offering access to a global network of alumni.
- Innovative Research and Education: MIT Sloan integrates cutting-edge research with practical application, ensuring students are prepared to tackle real-world challenges with innovative solutions.
- Interdisciplinary Approach: The collaborative environment at MIT encourages interdisciplinary learning, combining insights from various fields to solve complex problems.
- Entrepreneurial Ecosystem: MIT Sloan supports entrepreneurship through resources like the Martin Trust Center for MIT Entrepreneurship, helping students transform ideas into successful ventures.
- Global Impact: MIT Sloan is committed to making a global impact through initiatives focused on sustainability, healthcare, and social innovation.
- World-Class Faculty and Alumni: The faculty includes leading experts and researchers, and the alumni network is filled with influential leaders in business, academia, and government.
- State-of-the-Art Facilities: The campus boasts advanced facilities, providing students with the tools and environments needed for high-level research and learning.
- Culture of Collaboration and Inclusion: MIT Sloan promotes a culture that values diversity, inclusivity, and teamwork, creating a supportive and dynamic learning environment.
Useful Links
| How to Apply | How to apply to the Master of Finance (MFin) program |
| Application Deadlines | Admissions |
| Costs & finance | Financing Your Education |
| Admissions events | Events |
| MIT Alumni | Alumni Network |
| Contact | mfinadmissions.mitsloan@mit.edu +1.617.258.5434 50 |
Conclusion
MIT Mfin is an excellent program to target if you are interested in a global finance career. MIT is already considered one of the best universities, if not the best in the world. The Sloan School of Management at MIT is a top colleges in USA for MS in Finance. Ranking among the top 3 business schools, the MIT Master of Finance program at MIT Sloan is targeted by several students.
