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Discover this place Shape your world TM. Master of Science in Finance. Open doors to a career in finance. Agenda. Employment opportunities for finance graduates Graduate degrees in finance The Vanderbilt MSF Next steps. The Vanderbilt MS Finance.

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master of science in finance

Discover this place

Shape your world TM

Master of Science in Finance

Open doors to a

career in finance

agenda
Agenda
  • Employment opportunities for finance graduates
  • Graduate degrees in finance
  • The Vanderbilt MSF
  • Next steps
the vanderbilt ms finance
The Vanderbilt MS Finance

Employment Opportunities for Finance Graduates

employment
Employment
  • The employment market for graduates is improving.
  • Hiring of 2013 graduates is expected to increase 13% over 2012*.
  • Most sought after majors are:
    • Finance
    • Computer and Information Science
    • Accounting
    • Business Administration/Management
    • Mechanical Engineering

* NACE Job Outlook Survey 2013

jobs in finance
Jobs in Finance
  • Many different roles in finance:
    • Investment banking
    • Investment management
    • Investment research
    • Sales and trading
    • Real estate finance
    • Private wealth management
    • Advisory services
    • Corporate finance
    • Etc…
  • Can be hard to decide which is best for you.
  • Important to take the time to explore all of your options and work towards making a decision.
investment banking
Investment Banking
  • Investment banking covers a range of different roles, including:
    • Investment banking or corporate finance
    • Sales and trading
    • Research
  • The investment banking division includes:
    • Capital markets (raising funds via issuing equity or debt)
    • Mergers and acquisitions (advisory role for bidders or targets)
  • Generally organized along industry coverage (e.g. healthcare) and product coverage (e.g. M&A or leveraged finance)
  • Investment banking requires long hours and lots of flexibility.
  • Often have very structured analyst programs.
  • Viewed as an excellent launching pad for other finance roles.
investment management
Investment Management
  • Investment managers seek to grow capital and generate income for their clients.
    • Involves researching and analyzing potential investment opportunities and allocating clients’ funds according to their investment objectives.
  • Client may be retail (individuals) or institutional (companies and municipalities).
  • Includes hedge funds, mutual funds, pension funds, university endowments, etc.
  • Investment managers are on the “buy-side”.
  • Also known as asset management.
private wealth management
Private Wealth Management
  • Provide banking, asset management, insurance and fiduciary and tax services to high net worth individuals.
  • Coordinate a network of bankers, investment managers and other specialists.
    • Interact with multiple divisions.
  • Communication and “people” skills are very important.
  • UK / Vandy MSF graduates
    • Sam Gillespie ’13 (JP Morgan, New York)
    • Tony Cox ’09 (Goldman Sachs, Atlanta)
investment research
Investment Research
  • Conduct “fundamental” research:
    • Analysis of factors and trends driving an industry’s growth prospects
    • Analysis of companies within an industry
    • Company-specific financial analyses and forecasts
    • Valuation of companies’ securities
  • Activities include gathering information, writing reports, and selling research to clients.
  • Can be “buy-side” or “sell-side”.
  • You need to write well and be okay with an early start!
corporate finance
Corporate Finance
  • Many different roles when working inside a corporation:
    • Divisional Financial Analysis
    • Corporate development and strategic planning
    • Treasury
    • Cash management
  • Dealing with financial decisions of the company.
  • Combination of finance and accounting skills is important.
  • Often corporate roles have a better work/life balance than other roles in finance.
real estate finance
Real Estate Finance
  • Involves buying, selling, leasing, management, and development of property.
  • Network is extremely important and the working environment can be less corporate than other finance roles.
  • UK / Vandy grads:
    • Jonah Hescock ’10 (Healthcare Realty Trust, Nashville)
    • Ken Vereen ’11 (Deutsche Bank, Jacksonville)
    • Dallas Rose ’12 (Goldman Sachs, Dallas)
finance recruiting
Finance Recruiting
  • Most but not all entry level jobs are called “analyst” positions.
    • “Associate” in investment research.
  • Many firms have 2 year analyst programs.
  • The recruitment cycles for different finance jobs are not the same.
    • Investment banking: Sept-Oct
    • Corporate finance: Oct-Dec
    • Investment research and real estate: just-in-time
  • Networking is the number one way that people land jobs in finance.
where to find out more information
Where to find out more information
  • Websites:
    • www.vault.com
    • www.wetfeet.com
    • www.careers-in-finance.com
    • www.mergersandinquisitions.com
    • www.streetofwalls.com
    • www.wallstreetoasis.com
  • Visit your undergraduate career services center
  • Start talking to people
    • UK alumni
    • Local firms
  • Get an internship
the vanderbilt ms finance1
The Vanderbilt MS Finance

Graduate Business Degrees

graduate business degrees
Graduate Business Degrees
  • MBA
    • Established and well known.
    • Generalist business degree, will include classes on strategy, marketing and accounting as well as finance.
    • Can specialize in one or two areas.
    • Generally requires work experience.
    • Usually a 2 year degree with summer internship.
    • Usually a terminal degree.
    • MBAs go into jobs that require work experience. Often called an “associate” in finance.
graduate business degrees1
Graduate Business Degrees
  • MSF
    • Designed for recent graduates with little to no work experience.
    • Focused on financial economics and analytical skills.
    • Usually 1-1.5 years.
  • Financial Engineering programs
    • More quantitative than MSF.
    • Often run by a math department.
    • May require work experience.
    • Graduates target heavily quantitative finance roles (“quants”).
  • PhD
    • 5 year research degree.
ms finance degrees
MS Finance degrees
  • MSF degrees are increasingly common but are still relatively new.
  • Attractive to:
    • Students with a non-finance major who want to transition into finance
    • Students who want additional finance training in a graduate b-school setting
    • Students from “non-core” recruiting schools who want access to a broader recruiting market
    • Students seeking a “brand” on their resume and to broaden their network
  • Lots of different programs available
things to keep in mind
Things to keep in mind
  • When choosing a business school some things to think about are:
    • Size
    • Location
    • Career management resources
    • Alumni base
    • Curriculum—electives vs “lock step”
    • Faculty
    • Brand
    • Cost
how to find the best school for you
How to find the best school for you
  • Do your research
    • School website
    • US News & World reports
    • FT rankings (mostly European schools)
  • Talk to people and ask lots of questions
    • Alumni
    • Admissions personnel
    • People like me
  • Go for a visit
  • Decide what is important to you and whether the school can help you achieve your goals
goals of the msf
Goals of the MSF
  • Develop a strong finance backbone in one year
  • Gain practical finance and business skills, such as:
    • Portfolio theory
    • Derivative pricing
    • Asset pricing
    • Firm valuation
    • Risk management
  • Work side-by-side with experienced MBA students from a variety of backgrounds and learn from their experiences
  • Expand your career opportunities in a competitive field
the msf curriculum
The MSF Curriculum
  • 32 hours of coursework
  • A strong core of required courses with a variety of advanced MBA electives
  • 7-week modular system
  • You can take more courses and have more flexibility to customize your degree
  • I will work closely with you to design your curriculum to suit your career goals
august orientation
August Orientation
  • MSF students arrive on campus in late July / early August and attend intensive classes for two weeks.
fall semester
Fall Semester
  • Modules I and II are mostly MSF “core” classes:
  • Students with prior accounting classes may be exempt from Introduction to Accounting.
spring semester
Spring Semester
  • Modules III and IV are all electives:
customize your degree
Customize Your Degree

Choose from a variety of electives, including:

  • Active Portfolio Management
  • Advanced Financial Reporting
  • Advanced Spreadsheets
  • Bond Markets
  • Business in the World Economy
  • Corporate Financial Policy
  • Corporate Restructuring
  • Derivative Securities Valuation
  • Equities Markets
  • Ethics in Business
  • Federal Income Taxation of M&A
  • Financial Data Analysis
  • Financial Institutions

Financial Reporting

Financial Statement Analysis

Game Theory & Business Strategy

Intl. Financial Markets & Instruments

Launching the Venture

Mergers and Acquisitions

Negotiation

Real Estate Financial Analysis

Real Estate Investment & Development Analysis

Risk Management

Taxation of Corporations & Joint Ventures

discover your career path
Discover Your Career Path

A selection of likely career paths includes:

  • Quantitative Finance Track
    • Sales & Trading, Investment Research, Proprietary Trading, Private Equity, Investment Banking and Risk Management
    • Asset/Investment Management/Brokerage, Treasury and Securities, Insurance, Mortgage Banking
  • Corporate Finance Track
    • Corporate/Industry Finance: Divisional Financial Analysis, Corporate Development & Strategic Planning, Treasury, Cash Management
    • Commercial Banking, Credit Card Services and Operations
  • Other
    • Real Estate
    • Consulting
    • Financial Economics/Finance PhD preparation
spring semester1
Spring Semester
  • Quantitative finance track:
spring semester2
Spring Semester
  • Corporate finance track:
career management
Career Management
  • What is the Career Management Program?
    • Personalized support to help you meet your career goals
    • A multi-step series of interactive workshops and coaching sessions that prepare you for all steps of the job search
  • Goals of the program are:
    • To help you be successful in pursuing your career goals
    • To build skills necessary to plan and conduct a successful career search
career management1
Career Management
  • What is the Career Management Program?
    • Professional Development and Communications class
    • Resume and cover letter review
    • Mock interviews
    • One-on-one coaching and career advice
    • MBA Peer coaches
    • Networking treks: Wall Street, Houston, Asia
  • Professional clubs at Owen are another important career resource
    • Finance club
    • Consulting club
    • Max Adler Student Investment Fund
next steps
Next steps
  • Learn more about finance careers
    • Internet
    • Career center
    • Tap into your network
    • Internships
  • Visit Vanderbilt to learn more about MSF
    • Next campus visit day is Monday March 18.
    • Attend class, meet current students, experience b-school.
    • Welcome to attend on any other day.
    • Contact: msfinance@owen.vanderbilt.edu