FINANCE Move Forward in Finance

Master of Science in FINANCE Move Forward in Finance

From the first day I stepped into Whether you’re newly starting out or looking to the Carlson School building, I knew extend your reach, the Carlson School’s MS in I was going to have a productive and Finance program provides a solid foundation for illuminating year. I was actually an your future as a finance professional. engineering student, but I had a little financial experience in the banking Designed to prepare students for a variety of industry. The MSF program built career possibilities, the Carlson School program upon this knowledge and took me combines expert instruction in finance theory with to places I never thought possible. practical application and experiential learning. Its mix of core and elective classes Top-ranked finance and economics faculty teach provided me with the skills and hands- students how to create real business value—the on experience needed to become a kind that’s in demand across industries. risk analyst at a universal bank. Now, nearly every day, I make impactful business decisions by drawing on what I’ve learned and experienced in the program. I believe the year spent in the Carlson School’s MSF program is the Start Here, Succeed Anywhere most worthwhile investment I have ever done. If I were given the chance to Carlson graduates enter the job market ready to succeed in a variety of roles, and many do it again, I would definitely do so.” options are available to professionals with an MS in Finance. Pursue any of the following and be able to pivot from one area to another when the desire or opportunity arises. —Chia-En Yu, ’17 MSF Mortgage Market Risk Analyst, US Bank

Corporate Security Analysis Investment & Risk Management Consulting Finance & Portfolio Commercial Management Banking Earn Your Degree Go on to Great Careers from a Top University

TOP Demand for finance professionals Tejaswini Kulkarni 10 The University of Minnesota’s Carlson BNY Mellon is strong, and the opportunities School of Management is highly Vice President, are as diverse as they are Liquidity Risk Research ranked among business schools 95% interesting. MS in Finance PLACEMENT University in the U.S. and beyond. The deep graduates now work at some within 6 months of #14 expertise of our faculty, a recognized William Fafinski of the world’s most well-known MS in Craig-Hallum graduation reputation for excellence, and a Capital Group financial institutions. Piper Finance Top 100 worldwide alumni network provide Equity Research Associate Class Jaffray, BNY Mellon, Citibank, of 2017 Program in U.S. Business #13 Carlson students with the means to Ameriprise Financial, and U.S. Bank QS World Rankings launch—or transform—their careers. 2017 School have all hired from the program, as Worldwide Rankings The MS in Finance program proves have consulting firms like Deloitte and 2013-17 Huaixi Yao University of Texas- the point, having vaulted to the top of Citibank (China) Co., Ltd Accenture. Our graduates build finance Management Associate Dallas 2018 the rankings after just one year. careers at companies in the U.S. and around the world.

Philip Zimring Piper Jaffray & Co. STEM Designated Healthcare Investment Banking Analyst Employment by Region The MS in Finance program is recognized by the Department of Homeland Security as Chia-En Yu a STEM-designated US Bank Mortgage Market Risk 41% program. STEM 6% Analyst programs allow 6% greater flexibility for international students. Suyog Dahal Columbia 6% Threadneedle Investments Associate Fixed Income 41% china Analyst

The Carlson School MS in Finance program is a Program instills a combination of practical skills in CFA University Affiliation Program, as conferred by investment analysis, portfolio management, and the Chartered Financial Analyst Institute. ethical principles. As such, the MS in Finance program covers a By earning the CFA designation, you’ll enhance The best part of the program was getting to work with people from significant portion of the CFA Program Candidate your skill set and professional prospects. Many the finance industry. You interact with experienced professionals from the Body of Knowledge (CBOK) in its curriculum and MS in Finance students choose to sit for the CFA conforms to the CFA Institute Code of Ethics while exams to complement their degree from the industry and learn how exactly the industry functions.” preparing students for the CFA exam. The CFA Carlson School. —Aparna Sen, ’17 MSF Ameriprise Financial Services, Investment Management, Risk Flexible Formats Courses and Structure Essential Education, Choose the format option that meets your SUMMER / 9 CREDITS needs and timeline. MSF 6421: Computing for Finance 2 credits MSF 6221: Fundamentals of Finance I 2 credits Focused on the Future Students desiring an accelerated MSF 6031: Financial Accounting 3 credits 12 option can complete the program MSF 6920: Introduction to Python 2 credits month in three intensive semesters and plan FALL A / 8 CREDITS A comprehensive curriculum provides students foundational be on the job market with their MSF 6422: Financial Econometrics I 2 credits degree in one year. knowledge applicable to corporate finance, security analysis and MSF 6222: Fundamentals of Finance II 2 credits MSF 6022: Financial Statement Analysis 2 credits Alternatively, students can opt portfolio management, investment and commercial banking, risk MSF 6021: Communications for Finance 2 credits 16 for a format that allows time to management, and more. In addition, students work with cutting- month pursue an internship* in addition FALL B / 8 CREDITS plan MSF 6423: Financial Econometrics II 2 credits edge financial software and databases to sharpen quantitative to coursework. MSF 6223: Fundamentals of Finance III 2 credits skills and become technology-savvy financial professionals. *The program does not guarantee placement MSF 6621: Finance within the in an internship Macroeconomy 2 credits MSF 6322: Corporate Valuation & Modeling 2 credits SPRING A / 8 CREDITS MSF 6821: Experiential Learning 2 credits MSF 6522: Derivatives and Risk Management I 2 credits MSF 6321: Quantitative Portfolio Analysis 2 credits MSF 6121: Fixed Income Analysis 2 credits SPRING B / 6 CREDITS MSF 6821: Experiential Learning 2 credits Electives 4 credits SAMPLE ELECTIVES FINA 6325 Behavioral Finance 2 credits FINA 6621 International Financial Management 2 credits FINA 6222 Mergers and Acquisitions 2 credits FINA 6324 Securitization Markets 2 credits FINA 6341 World Economy 2 credits Graduate courses are offered by other departments in the business school upon approval. Note: List of electives could vary per academic year. NON-CREDIT COURSES Noncredit 1: On occasion, external speakers will Get Real-world Experience Advanced Tools be brought in to enhance the experiential learning component of the MS in Finance program. Students Experiential learning is a hallmark of the Carlson School and a key component of the MS in The curriculum exposes students to modern are required to attend such meetings, and their Finance program. Students deepen their learning by tackling challenging projects for real client tools and resources such as: participation will be assessed on a pass/fail basis. companies. This curriculum design provides students with resume-worthy accomplishments that • Python • Excel VBA Noncredit 2: Students will be required to pass routinely attract attention from employers. programming • Factset the online ethics module from the Chartered Project examples: • Bloomberg • Matlab Financial Analyst Institute by the end of the summer. Asset management Corporate Finance Risk Management • Compustat • ModelRisk Successful completion is a requirement of the • Investment product analysis • Capital structure analysis • Currency, interest rate, or • CRSP Fundamentals of Finance II course. commodity risk assessment • Asset/liability study • Retail expansion or market Note: Students enrolled in the 16-month option will move • Portfolio risk analysis analysis • Value at Risk (VaR) analysis one required MSF course and the electives to the Fall • Division profitability analysis semester of the second year. Without a doubt, the best part of the program was the experiential Study with Experts learning component. Not only did I receive an enriching team opportunity outside the four walls of a classroom, MS in Finance students learn from but also I learned something concrete the Carlson School’s globally ranked that I could tie into my own career faculty. These scholars are engaged #11 path. Experiential learning allows in innovative and influential research, students, faculty, and industry for professionals to work together and have a wealth of experience working business with leading companies, and are explore different ways of tackling well-informed about the challenges Research complex business problems. This experience is something that I will today’s organizations face. Such KUBS Worldwide Business Research Rankings draw back on and it added color to experience expands the classroom 2017 the stimulating coursework. Overall, and provides students with a more I wanted to be armed with a skill set dynamic learning experience. that would play to my curiosity and make me competitive for a wide array of finance opportunities down the road. The MSF program was all that and more. It opened doors that were previously closed, and allowed me to be Meet a Few Professors nimble in business in a broad way.” —William Fafinski, ’18 MSF Equity Research Associate, Craig-Hallum Capital Group

Robert Goldstein Tracy Yue Wang Colin Ward Professor, C. Arthur Williams Associate Professor Assistant Professor Jr./ Minnesota Insurance Expert in corporate governance, Expert in asset pricing. Recipient Industry Chair law and economics, empirical of the AQR Insight Award. Expert in term structure of corporate finance. interest rates, credit risk, capital structure theory. Serves on the editorial boards of top finance journals. Admissions Recent college graduates and early-career Welcome to the professionals with experience or interest in finance are encouraged to apply. Prerequisites Bold North include: • Completion of university-level courses APPLICATION in statistics and calculus is required due dates Dynamic, diverse, and growing, the Minneapolis-St. Paul metro has • Completion of linear algebra course is Round 1 • November 1 preferred, but not required emerged as one of the country’s best places to build a business, a Round 2 • January 4 • Professional work experience is career, and a life. The Twin Cities and surrounding suburbs are home Round 3 • February 1 preferred, but not required to 19 Fortune 500 companies in various industries, a thriving start-up Round 4 • March 1 Round 5 • April 1 Detailed admissions requirements and scene, and major private companies like agribusiness giant Cargill. The application instructions are available state is also known for a mix of arts, culture, recreation, and natural online at z.umn.edu/MSFApply amenities that offer residents an incredible standard of living. JULY Program begins in July

CONTACT US Carlson MS in Finance Program Carlson School of Management University of Minnesota 321-19th Avenue S., Suite 1-110 Minneapolis, MN 55455-0438 Phone 612-625-5555 E-mail [email protected] web carlsonschool.umn.edu/degrees/ master-science-in-finance

student life #1 #4 The University of Minnesota’s lively urban clubs and organizations representing an array campus overlooks the beautiful Mississippi River of professional, social, cultural, and recreation Minnesota Best City and is well-connected by transit to the rest of interests. From the Carlson Finance Club to the the Twin Cities. Consulting Club, and from Outdoor Adventures top state for Job Seekers Club to Carlson 4 Community, there are plenty for business Carlson School students meet, socialize, and Nerd Wallet of ways to get involved. CNBC Top City #1 learn from one another through 20+ student in the World Healthiest for Attracting city in America Recent Graduates Forbes LinkedIn #3 Master of Science in Finance Carlson School of Management University of Minnesota

321 Nineteenth Avenue South, Suite 1-110 Minneapolis, Minnesota 55455-0438