Master of Science in Finance, Carroll School of Management
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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 MSF Program at Boston College prepares students
to navigate and manage unpredictable economic
landscapes. MSF students gain valuable experience
through case studies, internships, field study, and real-
world 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.
program detailsThe 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 math-
ematicians, economists, engineers, computer
scientists, and others who are considering a new
career in the world of finance.
schedUling options
fUll time
Cohort (accelerated) format » Students in the
accelerated program can complete the 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.
Quantitative track » Designed for full-time students,
the quantitative track MSF offers a thorough
grounding in technical and analytical skills. The
quantitative track consists of 11 courses, including
five doctoral-level courses, and can be completed
in three semesters.
part time
Self-paced option » The self-paced option meets
the needs of individuals who wish to continue their
careers while pursuing advanced study. While
course enrollment is flexible, self-paced students
typically complete the program in 20 months.
Master of Science in Finance
Jill Glaser, MSF ’04Equity Research Associate Analyst, Credit Suisse
“At PricewaterhouseCoopers I gained practical ex-perience 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 invest-ments. The faculty drew on real-world examples to illustrate the material, and my classmates contributed knowledge from their diverse back-grounds, 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
program reQUirementsAll 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. Prior to applying to the quantitative track
MSF Program, applicants must have the following
coursework: three semesters of calculus, one semes-
ter of linear algebra, and one semester of statistics.
» www.bc.edU/msf
fUll time
cohort (accelerated) msf
fall coUrses credits
Investments 3
Corporate Finance 3
Financial Econometrics 3
Management of Financial Institutions 3
spring coUrses credits
Theory of Corporate Finance 3
Two of the following: Fixed Income Analysis; Portfolio Theory; Derivatives and Risk Management
6
One Elective 3
sUmmer coUrses credits
Financial Policy 3
One Elective 3
total credit hoUrs/coUrses 30/10
QUantitatiVe tracK msf
first year, fall coUrses credits
Math for Economists 3
Statistics 3
Corporate Finance 3
Investments 3
first year, spring coUrses credits
Econometrics 3
Capital Markets 3
Derivatives and Risk Management 3
Fixed Income Analysis 3
second year, fall coUrses credits
Empirical Asset Pricing 3
Portfolio Theory 3
One Elective 3
total credit hoUrs/coUrses 33/11
part time
self-paced msf
first year, first semester* credits
Investments 3
Corporate Finance 3
first year, second semester credits
Financial Econometrics 3
Management of Financial Institutions 3
first year, third semester credits
One of the following: Fixed Income Analysis; Portfolio Theory; Derivatives and Risk Management
3
One Elective 3
second year, first semester credits
Theory of Corporate Finance 3
One of the following: Fixed Income Analysis; Portfolio Theory; Derivatives and Risk Management
3
second year, second semester credits
Financial Policy 3
One Elective 3
total credit hoUrs/coUrses 30/10
* Students who choose the self-paced option may begin the program in September or January.
applied learningExperiential learning is an integral part of the cur-
riculum for MSF students at Boston College. The
Curriculum in Investment Research and Manage-
ment (CIRM) Program, for example, offers a reality-
based curriculum that merges theoretical learning
with hands-on workshops. For qualifying students,
the program culminates in “live money” portfolio
management.
The School 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.
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,
provide additional opportunities for students to gain
significant leadership experience as well as develop
their personal and professional interests.
» www.bc.edU/msfappliedlearning
dUal-degree programsThrough the Carroll School’s Master of Business
Administration/MSF and Master of Science in
Accounting/MSF programs, MSF candidates gain
additional skills and knowledge as well as a broader
perspective on the field of finance. Individuals
with advanced training in multiple disciplines also
enjoy a competitive edge. Candidates can complete
the requirements of dual-degree programs in signifi-
cantly less time than it would take to pursue each
program separately.
» www.bc.edU/msfdUaldegrees
» www.bc.edU/msffacUlty
Faculty
Pierluigi BalduzziProfessor; PhD, University of California, Los Angeles
David ChapmanAssociate Professor; PhD, University of Rochester
Thomas J. ChemmanurProfessor; PhD, New York University
Clifford G. HoldernessProfessor; MSc, London School of Economics; JD, Stanford University
Edith HotchkissAssociate Professor; PhD, New York University
Oguzhan KarakasAssistant Professor; PhD, London Business School
Darren KisgenAssociate Professor; PhD, University of Washington
Nadya MalenkoAssistant Professor; PhD, Stanford University
Alan MarcusMario J. Gabelli Endowed Chair and Professor; PhD, Massachusetts Institute of Technology
Alicia H. MunnellPeter F. Drucker Professor; PhD, Harvard University
Dmitriy MuravyevAssistant Professor; PhD, University of Illinois at Urbana-Champaign
Helen Frame PetersProfessor; PhD, University of Pennsylvania
Jeffrey PontiffJames F. Cleary Chair in Finance and Professor; PhD, University of Rochester
Jun QianAssociate Professor; PhD, University of Pennsylvania
Jonathan ReuterAssistant Professor; PhD, Massachusetts Institute of Technology
Ronnie SadkaProfessor; PhD, Kellogg School of Management, Northwestern University
Philip E. StrahanJohn L. Collins, S.J., Chair in Finance and Professor; PhD, University of Chicago
Robert A. TaggartProfessor; PhD, Massachu-setts Institute of Technology
Jerome TaillardAssistant Professor; PhD, Ohio State University
Hassan TehranianGriffith Family Millennium Chair, Professor, and Chair-person of the Department; Director, Center for Asset Management; PhD, Univer-sity of Alabama
Jun QianAssociate Professor, Finance
“You can’t teach advanced finance out of a textbook because the field is constantly changing. A text written three years ago would look ridiculous today. In my classes, I incorporate case studies that examine real issues facing real companies.
I often include my own research into class discus-sions as well, especially of hot-button issues like CEO compensation and credit ratings. Doing so allows us to talk about these issues in greater depth.
Members of the finance faculty at Boston College are all deeply involved in research; at the same time, each of us pays close attention to teaching. For me, it’s an honor and a privilege to be here.”
Jun Qian’s research focuses on theoretical and empirical corporate finance and financial institutions. He is particularly interested in the global connections among financial contracts, laws and institutions, and economic growth. He also studies the development of financial systems in emerging markets. A research fellow at the Wharton Financial Institutions Center, he is a member of the American Finance Association and Western Finance Association.
fUll-time cohort (accelerated) msf Job placement data (2010–2012)
compensationEighty percent of salaries fall between $55,000–$85,000.
employment by indUstryConsultingConsumer Banking Consumer Goods/Retail
Financial ServicesInsuranceManufacturing
representatiVe list of hiring companiesBarclays CapitalThe Boston Company
Asset ManagementCanaccord GenuityCredit Suisse GroupDeloitte ConsultingDuff & PhelpsEuroConsultFidelity InvestmentsIM John HancockLoomis Sayles
Marvin Windows and Doors
NomuraPiper JaffrayPricewaterhouseCoopersProvidence Equity PartnersRBS Citizens, N.A.StaplesState StreetTowers WatsonUBS Wealth ManagementWilmington Trust
Data is not yet available for the quantitative track MSF. The first class matriculated in fall 2012.
part-time cohort (accelerated) msf entering class of 2013 profile*
academic profileAverage GMAT 606Average undergraduate GPA 3.1Average years of work experience 8.2
class compositionAverage age 31Age range 23–50Women 19%International students 6%
* Placement data not available for graduates of the self-paced MSF.
» www.bc.edU/msfcareers
fUll-time cohort (accelerated) msf entering class of 2013 profile
academic profileAverage GMAT 703Average GRE 1356Average undergraduate GPA 3.53Years of work experience 0–6
class compositionAverage age 24Age range 21–36AHANA (African American, Hispanic, 7%
Asian American, and Native American) Women 37%International students 78%
total international enrollment Includes: Canada, China, France, Ivory Coast, Lebanon, Russia, Taiwan, United Kingdom, Vietnam
UndergradUate maJorsAccounting 5%Business/Commerce 15%Double major 27%Economics 7%Engineering 3%Finance 32%Humanities/Social Science 2%Math/Physical Science 2%Other 7%
Entering class profile data as of July 15, 2013.
Careers and the Alumni Network
MSF graduates typically go on to jobs in corporate
finance, asset management, and investment banking.
Boston College’s Career Strategies office provides
career guidance and support through workshops as
well as on-campus company information sessions,
industry lunches, and roundtables.
Graduates of the MSF Program join a loyal and
influential alumni network. Today, the Boston College
alumni community encompasses more than 162,000
individuals all over the world, including more than
35,000 graduates of the Carroll School.
Admission
The Boston College MSF Program seeks students with
outstanding potential for leadership and academic excel-
lence. 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 applyEach candidate must complete an application for
admission, which includes transcripts of all academic
work, two essays, and two letters of recommendation.
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
Boston College Carroll School of Management publications contain current information regarding the University calendar, admissions, degree requirements, fees, regulations, and course offerings. They are not intended to be and should not be relied upon as a statement of the University’s contractual undertakings.
accreditation information may be accessed at: www.bc.edu/offices/irpa/ir/heoa/accreditation_info.html
nondiscrimination statement may be accessed at: www.bc.edu/offices/diversity/compliance/nondiscrim.html
campUs safety and secUrity program may be accessed at: www.bc.edu/offices/hr/resources/programs/campussecurity.html
carroll school of managementoffice of gradUate admissions
140 commonwealth aVenUe
chestnUt hill, massachUsetts 02467–3808
t: 617–552–4488 | f: 617–552–8078 | e: [email protected]
www.bc.edU/carroll