Master of Science in Finance by Boston College

carroll school of management

msf

Master of Science in Finance

Globalization, new technologies, ever-evolving regulations, and novel financial instruments: the landscape of finance is constantly changing. To succeed in this constantly evolving environment, industry professionals need a thorough grounding in the enduring principles that underlie financial markets. By focusing on fundamental economic principles, the Boston College MSF Program prepares students to navigate and manage unpredictable economic landscapes. BC MSF students gain valuable experience through case studies, internships, field study, and realworld consulting projects. Classes are small, fostering a strong sense of community and collegiality, and students have remarkable access to some of the finest teachers and researchers in the world.

Master of Science in Finance program details The BC MSF Program helps students deepen their knowledge of finance, broaden their opportunities within the industry, and become recognized leaders in their fields. It is designed to meet the diverse needs of finance professionals at different stages of their careers. It is also suited for recent undergraduates beginning their careers in finance, and for mathematicians, economists, engineers, computer scientists, and others who are considering a new career in the world of finance. The BC MSF Program ranked seventeenth in the 2015 Financial Times Masters in Finance rankings among pre-experience programs.

SCHEDULING OPTIONS Full time Students in the full-time program can complete the BC MSF in one full year of study. Students progress through the program as a cohort, fostering exceptional camaraderie and creating a supportive network—one that continues long after the program comes to an end. Part time The part-time option meets the needs of individuals who wish to continue their careers while pursuing advanced study. While course enrollment is flexible, part-time students typically complete the program in 20 months. Part-time students pursue the same courses as their full-time counterparts, and also benefit from access to Boston College’s world-class faculty.

Jill Glaser, MSF ’04 Equity Research Associate Analyst, Credit Suisse “At PricewaterhouseCoopers I gained practical experience in the field of accounting. Then I chose to invest a year in the Boston College MSF Program for broader exposure to financial markets and deeper knowledge of what drives the value of firms. The curriculum provided a full understanding of corporate finance, capital markets, and investments. The faculty drew on real-world examples to illustrate the material, and my classmates contributed knowledge from their diverse backgrounds, making the classroom discussions interesting and informative. My experiences at BC proved to be invaluable as I started a career in equity research following completion of the program.”

Sample Curricula and Course Sequences full time core COURSES

part time credits

fir st year, fir st semester*

credits

Investments

Corporate Finance

Financial Econometrics

fir st year, second semester

Management of Financial Institutions

Financial Econometrics

Management of Financial Institutions

Derivatives and Risk Management

one of the following Theory of Corporate Finance; Corporate Valuation and Restructuring

one of the following

credits 3 credits

Portfolio Theory; Fixed Income Analysis

elective COURSES

credits

Three Electives total credit hours/courses

9 30/10

credits 3 3

fir st year, third semester

credits

Derivatives and Risk Management

One Elective

second year, fir st semester

credits

Corporate Valuation and Restructuring

One Elective

second year, second semester

credits

Portfolio Theory

One Elective

total credit hours/courses

30/10

* Students who choose the part-time option may begin the program in September or January.

PROGRAM REQUIREMENTS All candidates are required to complete the following courses prior to beginning the program: accounting, calculus, financial management, and statistics. Economics, if not already completed, may be taken as part of the MSF Program and is a requirement for graduation.

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www.bc.edu/msf

APPLIED LEARNING Experiential learning is an integral part of the curriculum for MSF students at Boston College. The Curriculum in Investment Research and Management (CIRM) Program, for example, offers a realitybased curriculum that merges theoretical learning with hands-on workshops. For qualifying students, the program culminates in “live money” portfolio

Graduate students at the Carroll School fulfill the University’s tradition of service by serving as mentors, role models, or tutors in underserved communities, or by providing pro bono professional services to local nonprofit organizations. Numerous student clubs, including the Graduate Management Association and the Graduate Finance Association,

management. The BC MSF also offers off-campus opportunities for graduate students to learn directly from industry professionals. Our TechTrek course features visits to Silicon Valley, Seattle, and New York City, allowing students to tour some of the nation’s hottest tech firms and meet with venture capitalists, CEOs, and entrepreneurs. The International Management Experience culminates in an international trip to interact with business leaders and government officials. And in the International Consulting Project, students travel to countries such as China or Peru to work with clients on specific business challenges.

provide additional opportunities for students to gain significant leadership experience as well as develop their personal and professional interests.

www.bc.edu/msfappliedlearning

Faculty Ian Appel

Alicia H. Munnell

Assistant Professor; PhD, University of Pennsylvania

Peter F. Drucker Professor; PhD, Harvard University

Pierluigi Balduzzi

Dmitriy Muravyev

Professor; PhD, University of California, Los Angeles

Assistant Professor; PhD, University of Illinois at Urbana-Champaign

Michael Barry Associate Professor of the Practice; PhD, Boston College

Thomas J. Chemmanur Professor; PhD, New York University

Vyacheslav Fos Assistant Professor; PhD, Columbia University

Clifford G. Holderness Professor; MSc, London School of Economics; JD, Stanford University

Edith Hotchkiss Associate Professor; PhD, New York University

Oguzhan Karakas Assistant Professor; PhD, London Business School

Darren Kisgen Associate Professor; PhD, University of Washington

Leonard Kostovetsky Assistant Professor; PhD, Princeton University

Nadya Malenko Assistant Professor; PhD, Stanford University

Alan Marcus Professor and Mario J. Gabelli Endowed Chair; PhD, Massachusetts Institute of Technology

Jordan Nickerson Assistant Professor; PhD, University of Texas at Austin

Helen Frame Peters Professor; PhD, University of Pennsylvania

Jeffrey Pontiff Professor and James F. Cleary Chair in Finance; PhD, University of Rochester

Jonathan Reuter Associate Professor; PhD, Massachusetts Institute of Technology

Ronnie Sadka Professor and Chairperson of the Department; PhD, Northwestern University

Philip E. Strahan Professor and John L. Collins, S.J., Chair in Finance; PhD, University of Chicago

Robert A. Taggart Professor; PhD, Massachusetts Institute of Technology

Hassan Tehranian Senior Associate Dean of Faculty, Professor, and Griffith Family Millennium Chair; PhD, University of Alabama

Richard McGowan, SJ Associate Professor of the Practice; DBA, Boston University

www.bc.edu/msffaculty

Edith Hotchkiss Associate Professor, Finance “I teach advanced topics in corporate finance and I draw heavily on my research expertise, especially in corporate restructuring and debt markets. It’s a rapidly changing area, so both the course material and the research are constantly being updated. You don’t teach this material just by lecturing. You’re guiding students through a case study, helping them discover on their own why a situation played out the way it did. It’s not about learning a static model and applying it the rest of your life. It’s about learning how to take a complex problem and break it down, ask the questions, move it forward. It’s very discussion-based. Our faculty has close contact with students at all levels. And I think you see that in the longevity of the relationships with students, after they leave Boston College. That’s a big part of why I like teaching at Boston College.” Edith Hotchkiss publishes widely on topics such as valuation and restructuring mechanisms for financially distressed firms. Among other current projects, she is studying the impact of leveraging on company innovation. She has also served as a board director of the Turnaround Management Association and as an independent economist for the Financial Industry Regulatory Authority.

Careers and the Alumni Network BC MSF graduates typically go on to jobs in corporate finance, asset management, and investment banking. Boston College’s Career Development office provides career guidance and support through workshops as well as on-campus company information sessions, industry lunches, and roundtables. Graduates of the BC MSF Program join a loyal and influential alumni network. Today, the Boston College alumni community encompasses more than 168,000 individuals all over the world, including more than 35,000 graduates of the Carroll School.

The financial job market is extremely challenging, and employment expectations should be tailored to this reality. Due to economic conditions and government regulations, opportunities for international students are especially limited.

Full-Time MSF Job Placement Data: Class of 2014 Employment Percent of students accepting job offers within three months of graduation: U.S. students 55% International students 19%

Compensation

FULL-TIME MSF 2015 ENTERING CLASS PROFILE Academic profile Average GMAT Average GRE Average undergraduate GPA Years of work experience

685 318 3.52 0–11

Class Composition Average age Age range AHANA (African American, Hispanic, Asian American, and Native American) Women International students

24 21–32 13% 41% 59%

Average total compensation: U.S. students International students

$69,375 $61,667

Representative List of Hiring Companies Analysis Group Bank of the West Berkeley Research Group Capital One China Everbright Limited Duff & Phelps

Gilmore Consulting Services Loomis, Sayles & Company NASDAQ OMX Group Piper Jaffray State Street Towers Watson

part-TIME MSF fall 2014 ENTERING CLASS PROFILE*

Total international enrollment

Academic profile

Includes: Colombia, France, Germany, Greece, Lebanon, P.R. of China, Portugal, R.O.C. Taiwan, Saudi Arabia, Venezuela

Average GMAT Average GRE Average undergraduate GPA Average years of work experience

Undergr aduate Major s Accounting Business Double major Economics Engineering Finance Math/Physical Science Other Entering class profile data as of June 15, 2015.

10% 13% 13% 22% 6% 28% 3% 6%

606 311 3.11 4.9

Class Composition Average age Age range Women AHANA

28 22–36 20% 12%

* Placement data not available for graduates of the part-time MSF.

www.bc.edu/msFcareer s

Admission The Boston College MSF Program seeks students with outstanding potential for leadership and academic excellence. While notable for the diversity of their individual achievements, our students all present a consistent record of taking initiative, leading change, and demonstrating a desire to make an impact in the world.

how to apply Each candidate must complete an application for admission, which includes transcripts of all academic work, essays, and recommendations. Prior work or leadership experience as well as evidence of management potential are significant criteria in the admissions process. All applicants are required to take the Graduate Management Admissions Test (GMAT) or the Graduate Record Examination (GRE). Applicants whose native language is not English must take the Test of English as a Foreign Language (TOEFL), the Pearson Test of English (PTE), or the International English Language Testing System (IELTS). All candidates must be graduates of accredited colleges or universities.

www.bc.edu/msfadmission

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carroll school of management office of graduate admissions 140 Commonwealth Avenue Chestnut Hill, MAssachusetts 02467–3808 T: 617–552–4488 | f: 617–552–8078 | e: bcmsf@bc.edu www.bc.edu/carroll