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shaping new leaders  2010-11  


master of finance

MIT Sloan Master of Finance

      >>> . and approach. program. What then determines return on investment? How do financial markets interact with the rest of the economy?”   —   eonid Kogan. organizations. answers. The program is  The MIT Sloan Finance Group was formed long before other business schools recognized   finance as a distinct area of study.)  program was launched as a direct response   to these new challenges. Our goal is to advance the field of finance. who know well the models’ limitations — the art of the science. >>> new questions. MIT Sloan  faculty continue to push the frontiers of finance. Financial breakthroughs developed here continue to influence financial practice:  “Should the long-run equilibrium trajectory of financial markets be affected by irrational investors? It depends.   MIT Sloan’s Master of Finance (M. Merton. culture. instruments. Using modern theoretical tools shows that even in a perfect market with unrestricted competition.Fin. dynamic portfolio choice.   Global financial leaders are rethinking financial  markets.  designed to develop innovative leaders who  will create and build the next generation   of financial markets. while  generating innovations and advanced management practices critical to leading in today’s   complex global economy. is the ideal place to take up this task — educating the next generation. and long-run risk management. leaders The world of finance is changing rapidly. Professor of Finance        Nobel laureate Robert C.  Many leaders in the field consider MIT the birthplace of modern   finance — a proving ground for breakthroughs that continue to shape both theory and practice. irrational traders may affect asset returns over exceedingly long periods of time.” —  Robert C. because of its history. Merton rejoins the faculty of MIT Sloan School   of Management this year to teach primarily in the M.Fin.pioneers in finance MIT Sloan has been a pioneer in finance for over 40 years. Building on pathbreaking  work in market efficiencies. Nippon Telegraph and   L Telephone Professor of Management > the Black-Scholes-Merton derivative pricing model > the Modigliani-Miller theorems on corporate financing and evaluation > the Cox-Ingersoll-Ross model of the term structure of interest rates “We need people in the private sector. We need people who know how to build models. and institutions. but also have the breadth of finance knowledge and judgment to make sound abstractions. but also in finance ministries and central banks who understand how the system works and how to improve it… people with strong quantitative skills who understand complex instruments and how risk is transferred. products   and services. MIT.

 For M. each trip is a  partnership among the organizers. Our project was working with the manager of MIT’s endowment to determine the value of the option to reallocate liquid investments during times of crises and how it compared to the illiquidity premium on certain private equity and hedge fund investments. Proseminars allow students to  M. which features the most dynamic movers  and shakers of the day. the room provides  students with hands-on experience in trading  and finance. and engineering. SF ’67 sparked the digital trading revolution when in 1982 he founded Trade Plus.Fin. this lab is designed to promote  qualitative research in financial engineering  Required Fundamental & Advanced Courses   Finance Theory I & II (Summer Term)   Corporate Financial Accounting   Analytics of Finance Electives   Practice of Finance    Entrepreneurial Finance   Investments   Advanced Corporate Finance   Options and Futures Markets   Fixed Income Sample General Elective Options   Financial Economics   Real Estate Finance and Investment   Capital Markets   Taxes and Business Strategy     ntrepreneurship and the   E   Management of Technology   Operations Management     ny Graduate-Level Course in Electrical  A Engineering and Computer Science. and speaker events at MIT. alumni. computer science. Management.   The most anticipated of these visits are the talks  given as part of the Dean’s Innovative Leader  Series. Inc. Proseminars (Project-based Subjects)   Financial Engineering   Financial Management   Security Design and Corporate Finance      usiness Analysis Using   B Financial Statements   Mergers and Acquisitions   Valuation “MIT Sloan’s Proseminar in Financial Engineering was an outstanding opportunity to work with leading industry practitioners in solving a real-world industry problem. through which the world’s first online trade took place on July 11. M. flexible by design At MIT Sloan. Its goals are to  spur advances in financial engineering and to  develop new methods for teaching students  and executives how to apply financial technology  in corporate settings. treks. coursework and career development programs  followed by two semesters of required   and elective courses. ’10 over the world to make trades in real time. statistics. and accounting.Fin. and faculty sponsors. They plunge in to foundational  put theory into practice on real-world projects  directed by leaders in finance. to enable customers all — Shane Torchiana. students are   required to complete courses in finance   theory and corporate accounting.  Structured by students. finance. MIT Sloan Trading Room Opened in 1996 as the first state-of-the-art  trading room at a university. All M.   to network with alumni and industry leaders. concept-based action learning is delivered by offering exceptional learning opportunities outside  the traditional confines of the classroom. .  corporate hosts.analytically rigorous The MIT Sloan Master of Finance is an intensive  12-month program designed to prepare   students for a broad range of careers in the   financial industry — careers requiring   analytical rigor and the ability to innovate  around market challenges. and a  proseminar. and serves as a research facility  >>> to shape innovations in the practice of finance. Treks & Spring Trips These trips offer an opportunity to visit  targeted industries in diverse markets and   Speaker Series MIT Sloan invites more than 400 of the world’s  top business leaders to campus every year.  Lab for Financial Engineering Created as a partnership between academia  and industry. he launched a subsidiary called E*Trade Securities.   Economics.Fin. operations   research.Fin. 1983. the program allows  students to explore the intellectual ties among finance and mathematics.. realizing he could compete with the major brokerage houses.” Bill Porter. this begins with the proseminars and extends   to a host of laboratory courses. A decade later. students. Beyond the traditional synergies among economics. or Mathematics   Optional Research Project or Thesis and computational finance. an electronic brokerage service bureau for stockbrokers. an advanced  course in the analytics of finance. students arrive at MIT Sloan in the  summer. The questions we addressed were on the leading edge of portfolio management and highly relevant.

 lead.. please visit:   http://mitsloan...............   application...  engineering........... job searching...800 Computer. 4..  M..... MIT Sloan draws its power from a paradox: it is a place for visionary  pragmatists........Fin. résumé  building.. 2010 .......000 Food ... mathematics.... three  recommendations.......  educational... $72...500 Fees .   F & Fixed Income Markets The application process is designed to allow  you to introduce yourself to us and to help us  understand how you think..... Financial institutions that had visited MIT Sloan in the fall hosted students for 12 formal receptions and presentations...” Treasury Operations & Corporate Finance Asset Management   Investments       oundations of Institutional   F Portfolio Management     lternative Investments: Private Equity   A & Hedge Funds   Mergers & Acquisitions   Entrepreneurial Finance   Valuation   Proseminar: Financial Management — Glenn Cunningham........000 alumni from around the world....418 *Includes medical insurance For more information about the program..advancing careers M..3.......... multiple-language speakers...   and conferences provide an exciting way to build relationships around shared interests.. students understand the evolution taking place in finance and  want to be at the center of it. graduates join MIT’s network of over 100. The  social and professional opportunities offered by more than 60 on-campus organizations................... M.............. M...   and individualized career planning advice.. ALFREDO RAMIREz Citigroup Quantitative Trading and Analysis YING CAO General Motors Treasury Analyst ADAM BADR DOMAT Morgan Stanley Global Capital Markets SHA NA Citigroup Beijing Corporate Finance join us Sample Careers “The January Asia Finance Trek is one example of how the CDO can leverage MIT’s tremendous global relationships to create exciting programs and events for students. funding The goal of the Admissions Office is to admit  the most qualified candidates regardless   of their financial means... This includes skills  assessment... Our culture is diverse and collaborative by design............ 2.... and pursue  your goals..... 272 Personal* ... students have a dedicated career services  advisor in MIT Sloan’s CDO.Fin..  There are dual citizens.....13. Educational loans  are available.........496 Sample Courses   Options & Futures Markets   Investment Banking   Proseminar: Financial Engineering     oreign Exchange....000 Books & Supplies .... academic transcripts.. $100.. domestically and globally.... all learning together in an integrated environment... interview preparation workshops... The CDO is   a true partner and resource for employers   and students alike... 2.....   a global network Like MIT itself.. networking................ Undergraduate Majors: Business and Commerce: 20% Computer Science: 7% Economics: 32% Engineering: 22% Humanities/Social Sciences: 2% Math: 14% Science: 3% To find yourself at MIT Sloan is to find yourself surrounded by remarkable thinkers and leaders  from all over the world... Commodities. sports.... Master of Finance Advisor. allowing students to set up individual meetings with companies while they are in the region........ computer science... Application Deadline: November 2.............. We also created a Trek resume book that is shared with companies before the trek... or funding............. The application includes: your cover  letter...  Total ........ students contribute diverse backgrounds in finance.. CDO Risk Management & Insurance   Security Design & Corporate Financing   International Financial Management   Analytics of Financial Engineering   Financial Crisis   Advanced Corporate Risk Management Investment Banking 2010–11 Tuition and Costs (for one student for one year) Tuition..... clubs............. MIT Sloan’s  Career Development Office (CDO) plays a vital  role in connecting students with leading ......... and professional experiences............. and other disciplines – what they all share is a passion for finance........................ All this is  surrounded by the arts.. Class Profile: Male: 67% Female: 33% Age Range: 20–28 years Average Experience: 13 months Average Undergraduate GPA: GMAT Range: 700–770* GRE Quant Range: 700–770* GRE Verbal Range: 420–730* *Middle 80% Intellectual life at MIT is of the highest caliber..1....Fin........... and nightlife of America’s most quintessential college cities:  Cambridge and Boston..... and students with a rich array of life.. three essays.........500 Transportation .. for hands-on thinkers — for people who dream of changing the world and have the  drive and discipline to make it happen.. and GMAT or GRE results..850 Housing ..... They benefit from  the integrated career planning and recruiting  services of both MIT and MIT Sloan’s Career  Development offices........

   617-253-4264. respectively. Room E19-215.6405 Email: mfinadmissions@sloan. and Section 504).edu/mfin/  . Editing: Linda Walsh. Design: Marc Harpin. sexual orientation. Photography: Stuart Darsch. Barry Hetherington.* The Vice President for Human Resources is designated as the Institute’s Equal Opportunity Officer  and Title IX Coordinator. disability. but may favor US citizens or residents in admissions and financial aid. religion. In the  absence of the Vice President for Human Resources or the Coordinator of Staff Diversity Initiatives/ Affirmative Action.253. color. veteran  status. http://mitsloan.258. scholarship and loan programs. Rhumba. and complaints may   be directed to the Vice President for Human Resources.  *  he ROTC programs at MIT are operated under Department of Defense (DOD) policies and regulations. 617-253-3928. The Institute does not discriminate against individuals on the basis of  race. Room E19-235N. US Department of Education. and will replace scholarships of students who   lose ROTC financial aid because of these DOD policies and regulations.Writing: Patty Robertson & Pam Spencer. MA 02142-1347 Telephone: 617. innovative leaders who improve the world and to generate ideas that advance management practice. statutes.5434 Facsimile: Suite E52-126 Cambridge. L. or to the   Coordinator of Staff Diversity Initiatives/Affirmative Action. MIT Sloan School of Management Admissions Office 50 Memorial Drive. ancestry. 617-253-1594. 617-253-6512. genetic information. and regulations (such as Title VI. inquiries or complaints may be directed to the Executive Vice President. compliance with applicable  laws.   Room 3-211. Printing: Universal/Millennium MIT Sloan School of Management’s mission is to develop principled. Room E19-215. and other Institute administered  programs and activities. and do not   T comply fully with MIT’s policy of nondiscrimination with regard to sexual orientation. Inquiries about the laws and about compliance may also be directed   to the Assistant Secretary for Civil Rights. employment policies. The Massachusetts Institute of Technology is committed to the principle of equal opportunity in   education and employment. or to the Director of Labor and Employee Relations. Inquiries concerning the Institute’s policies. Title IX. admissions  policies. MIT continues to advocate for   a change in DOD policies and regulations concerning sexual gender identity. or national or ethnic origin in the administration of its educational policies. Sarah Foote. age.