MIT MFin Why so many people apply MIT MS Finance this year?

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calsky

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Hi everyone, I heard that MIT master of finance has received more than 900 applications. Last year, they only receive 175+ applications. As you know, it is a new, expensive program without any internship. Even NYU, Princeton, Berkeley cannot have so many appliants.

Can someone explain why? Is it only MIT or every school that has such a terrible increase in applicants?
 
I'd like to see the source of your 175+ and 900+ numbers.

Here is the profile of their first class
Class Profile

Admission rate 21%
Male 70%
Female 30%
Age 25
U.S./International 55%/45%
Average Undergraduate GPA 3.6
Average Years Experience 1.5
GMAT Range 700-750
GRE Quant Range 790-800
GRE Verbal Range 590-650
 
I got an email from MIT fin program saying my application is complete but I dont think it says anything about the number of applicants. 900 is quite ridiculous. Where did u get this from?
 
96K is a lot of money for a one year program, even by MIT standard. From 175 to 900 is unheard of.
I contacted the program's director for verification and a few more queries. Will let you all know if they respond.
 
I think probably it's a substitute for the MBA program to some applicants because its curriculum isn't really quantitative. The applicants pool must include more prospective MBA students who want to finish the degree soon.
 
Anyone with a question about this program, feel free to PM me within the next 10 minutes.
I will be on the phone with the director of the program to do a short interview.
 
Is this program quantitative as any Financial Engineering program ?
Should it be categorized in the same group with all those MFin/MFE programs ?
 
roni said:
Is this program quantitative as any Financial Engineering program ?
Should it be categorized in the same group with all those MFin/MFE programs ?
Click to expand...

Good question. From the curriculum, it seems a Masters in Finance.
Most MFE I've seen will have a large portion of Math and at least 3, 4 classes explicitly core requirements in this area (e.g. PDE, probability, stochastic calculus)
 
It helps to read their FAQ
Why not offer a degree in Financial Engineering?
Finance is broader than just financial engineering, which suggests “quants and traders only.” The M.Fin. addresses the broader area of finance.
 
Hi Andy:

I work in the MIT Sloan admissions office and handle admissions and marketing. We do not talk about the applicant pool of our programs until decisions are released and we have wrapped up the admissions cycle. We will make numbers available in the spring.

Regards,
Julie Strong
Click to expand...
There you have it. If they do not release the number until Spring then the 900+ number is just a rumor because nobody outside of their admission office knows the number.
 
As Andy posted below, last year they admitted 175 people, and admittance rate was 21%, which means they had around 850 applicants. So 900 appl sounds absolutely reasonable
 
No, they had 175 applicants last year of which they admit 21% which means 36 people. The first class has 20-ish students with a plan to expand to 60 this year. This is directly from the director's email.

That said, I do not expect 900 people to apply for an 100K/year program. That's kind of number is reserved for long established programs with proven placement track record in good year, not a first year program, even if it's MIT.
 
Iuliia Palamar said:
As Andy posted below, last year they admitted 175 people, and admittance rate was 21%, which means they had around 850 applicants. So 900 appl sounds absolutely reasonable
Click to expand...
I'm afraid that statistics was misunderstood.

From the following article on WSJ.com

Alternatives to the M.B.A. Becoming More Popular - WSJ.com

"Many of these programs are still small—including MIT's new finance program, which is in its first year. The current class is just 27 students, although the school plans to eventually expand that number to 60."

In that case, if the admitted students is around 36 and 27 of them enrolled, 36/21% = 172. That's approximately the number of applications last year.
 

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