Master of Finance at Massachusetts Institute of Technology (MIT)

The Massachusetts Institute of Technology (MIT) is renowned for its innovative and rigorous academic programs. The Master of Finance program is offered by the MIT Sloan School of Management, a prestigious department within the university. This program spans 12 months, providing an intensive and comprehensive education in finance. Prospective students should be aware that the tuition fee for the Master of Finance program is USD 91,250. To gain admission, applicants need to demonstrate their English language proficiency. MIT accepts scores from both the IELTS and TOEFL exams. When considering this program, it's important to also check the GyanDhan Grading for a detailed understanding of the course's quality and outcomes. By choosing MIT, students position themselves at the forefront of financial education, benefiting from the university's cutting-edge resources and expert faculty.

• MIT's Master of Finance program offers a strong STEM curriculum that lasts for 18 months. Students have the option to fast-track and complete it in 12 months. The program focuses on understanding how markets operate, using the latest financial theories, complex quantitative models, and current industry practices.
• Students can choose to focus on one of four areas: financial engineering, impact finance, capital markets, or corporate finance. Choosing a concentration is optional and not necessary to earn the degree.
• The program includes essential and advanced courses, limited elective options, hands-on learning experiences, ethics lessons, a programming literacy test, and an optional master's thesis.

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12th Grade

There is no specific cutoff mentioned for 12th-grade requirements.

Graduation

Applicants need to have a four-year undergraduate degree or a three-year equivalent from outside the U.S. by the time of joining. The program is challenging, and listing courses like Linear Algebra, Multivariable Calculus, Probability, and Statistics is important. Proficiency in Python is preferred and expected before joining. The Admissions Committee values academic excellence, personal achievements, communication skills, and a strong commitment to finance.

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GRE

Marks: No specific cutoff mentioned

Submitting GRE is optional for the MFin program.

TOEFL

Marks: No specific cutoff mentioned

No specific cutoff mentioned for TOEFL.

IELTS

Marks: No specific cutoff mentioned

No specific cutoff mentioned for IELTS.

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Application Process for Massachusetts Institute of Technology (MIT)

Step 1: Prepare Your Application Documents

Letters of Recommendation (LOR): MFin applicants need to provide three letters of recommendation. These letters are crucial as they give us insights into your skills and impact. Choose people who can effectively discuss your qualifications:

• One letter should highlight your quantitative skills.
• If you are currently a student, provide two letters from your school and one from a recent internship, ideally from a supervisor.
• If you are working full-time, one letter should come from your employer and another from an academic source, such as a former professor. The third can be either academic or professional.

Resume (CV): Submit a one-page resume. Follow these formatting tips:

• Limit to one page.
• Use Times New Roman font, size 10.
• Acceptable formats: Word or PDF.

Step 2: Additional Required Documents

• Academic records from all attended colleges and universities.
• Submit GMAT or GRE scores.
• Provide English Language Proficiency scores.
• Answer two video questions. Follow these guidelines:
• Video Question 1: Introduce yourself to future classmates. Be yourself, be conversational, and let your personality shine. Guidelines:
• Maximum length: 1 minute (60 seconds).
• Single take, no editing.
• Speak directly to the camera.
• No background music or subtitles.
• Video Question 2: This will appear within your application once other parts are completed.
• Short Answer Questions:
• Question 1: Discuss your academic and professional experiences that prepare you for the Master of Finance program. Include relevant achievements in finance, math, statistics, and computer science.
• Question 2: Share your short-term and long-term career goals. Explain how the MFin degree will help you achieve them.
• Question 3: Describe personal qualities that will help you contribute to our mission.
• Question 4: Explain how your background, including family, culture, and community, has shaped who you are today.

Step 3: Start Your Online Application

Begin your application process by visiting the MIT Admissions Portal.

Step 4: Application Fees

The application fee for this course is USD 150, which is approximately INR 12.64 Thousand. You can pay via credit card.

The MIT Monthly Payment Plan allows you to spread your term bill over five payments, instead of paying it all at once.

Calculated at the exchange rate of 1 USD = INR 84.27 | Tuition & expenses were last updated in December 2024"