MS-Finance Admissions Info

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MS-Finance Admissions Info
MS-Finance Course Exemptions, Waivers & Transfers
FAQs about Admissions

MS-Finance Admissions Criteria
The School of Management accepts applications from those holding a bachelor degree or its equivalent from an accredited college or university. All credentials and documents submitted become the property of the University of Michigan-Dearborn School of Management. Applicants are carefully appraised on the following criteria:

Academic Records
Applicants’ undergraduate and graduate records will be heavily considered in the admission decision. Transcripts will be examined not only for overall grade point average but also for trends of grades and particular scholastic capabilities.

Scores from the Graduate Management Admission Test (GMAT)
All applicants must take the GMAT before admission is granted. GMAT scores older than five years will not be considered. GMAT Verbal and Quantitative scores will be heavily considered in the admission decision. The GMAT Analytical Writing score will be used to assess an applicant’s writing proficiency. Applicants with an Analytical Writing score below 4.0 will be directed to participate in an online writing enhancement program offered through the School of Management. Students must complete the writing enhancement program within their first two terms of enrollment.

Exceptions Policy for GMAT Scores
Applicants to the MS in Finance degree program who meet certain provisions will be considered for admission without submitting a GMAT score. If, upon review by the Graduate Programs Office, the applicant is considered admissible without a GMAT score, that requirement will be waived. The following provisions qualify an applicant to be considered for the GMAT waiver:

• An advanced degree (e.g. master’s, doctorate, JD, etc.) in business, economics, law, or related field, or in a discipline involving a significant quantitative component (e.g. engineering, science, statistics).
• A CPA or CFA/CFM certification.
• A bachelor degree in business with a cumulative gpa of 3.20 or higher, earned within the past five years from a business school accredited by AACSB-International.

The School of Management reserves the right to request a GMAT score from an applicant even if these conditions are met.

Work Experience
There is no work experience requirement for admission to the MS-Finance, although an applicant's experience in employment, military service and extracurricular activities will be considered as part of the admission process.

References
At least one letter of reference is required, from someone able to evaluate the applicant’s academic potential and/or professional work performance.

MS-Finance Admission Prerequisites
The following academic prerequisites for admission must be completed with grades of C or better prior to the first term of enrollment.

Financial Accounting Requirement
Three credits of financial accounting equivalent to the SOM undergraduate course ACC 298, Financial Accounting.

Mathematics Requirement
Quantitative skills and reasoning are important and frequently used in graduate business courses. An applicant’s mathematics background will be considered in admissions decisions. The minimum requirement for admission is demonstrated proficiency in mathematics as evidenced by successful completion of courses through pre-calculus or finite mathematics.  If an applicant’s university transcripts do not show satisfactory completion of pre-calculus, finite mathematics, or higher-level math courses (e.g. calculus), the burden will be on the applicant to explain and document that they have math knowledge equivalent to pre-calculus or finite mathematics.

The following UM-Dearborn courses will satisfy the mathematics admission requirement.  Math 104 Pre-calculus: Management, Life, and Social Science, 4 credits, or MATH 105 Pre-calculus, 4 credits. The prerequisite for both courses is at least two years of high school Algebra, or Math 090 Intermediate Algebra and one year of high school Geometry.

Statistics Requirement
An undergraduate course in statistics is required for admission to the MS-FINANCE and the MS in Finance programs. This course may be taken at UM-Dearborn or other four-year university or college.
The following course is offered by the School of Management and will satisfy the appropriate statistics and probability prerequisite.

• DS 300   Quantitative Modeling and Analysis I (3 credit hours). Prerequisite: MATH 113 or 115, and MIS 120.

Other UM-Dearborn courses that satisfy the statistics prerequisite include:

• ECON 305 Economic Statistics
• MATH 325 Mathematical Statistics I
• STAT 325 Applied Statistics I
• IMSE 317 Engineering Probability and Statistics

Computer Applications
The faculty expect every graduate student to be proficient in word processing and spreadsheets, including spreadsheet math and statistical functions. Prior to enrollment in SOM graduate courses, students must have completed a college-level computer applications course equivalent to the SOM undergraduate course MIS 120, Fundamentals of Information Systems, or they must have acquired equivalent expertise through training or work experience.

Taking UM-Dearborn Undergraduate Courses
Please check the Schedule of Classes online for course availability each term. To register for any of the above prerequisite courses as a non-degree student (personal enrichment) prior to entry in a graduate program, telephone the Undergraduate Admissions Office for admission information, (313) 593-5100 or online at  www.umd.umich.edu/prospective/admissions.html.

Applicants deficient in either the mathematics or statistics admission prerequisites may be considered for admission contingent upon their completing the appropriate course during their first term of enrollment in the graduate degree program.

Application Dates
MS-Finance students may be admitted for the fall (September), winter (January), and summer terms (May). Applications are reviewed on a rolling basis. Written notification is sent shortly after the decision date.

Please note that because of prerequisites, MS-Finance students may have a limited number of courses that they are qualified to take if they enter in the Winter or Summer term.  A full-time class load may not be possible.

Fall Term Admission
Applications are accepted through August 1. Applications received after August 1st for the Fall Term are accepted on a space-available basis.

Winter Term Admission
Applications are accepted through December 1. Applications received after December 1st for the Winter Term are accepted on a space-available basis.

Summer Term Admission
Applications are accepted through April 1st. Applications received after April 1st for the Summer Term are accepted on a space-available basis.

Application Fee
A non-refundable fee must accompany every application for admission.  Fees are subject to approval by the Regents of the University and may be changed at any time.

Transcripts
An official academic transcript from each college and university attended, including the University of Michigan-Dearborn, must be submitted to the School of Management. All credentials and documents submitted become the property of the University of Michigan-Dearborn School of Management. To be considered official, transcripts must come directly from one university to another. Transcripts cannot be accepted if sent by the student. When requesting transcripts from one of the three University of Michigan campuses (Ann Arbor, Dearborn, or Flint), inter-office copies are sufficient for admission consideration.

Recommendation Form
At least one letter of recommendation is required for admission. A form is included with the application for this purpose. The reference letter should come from an individual who is familiar with your academic accomplishments and/or job performance. The form should be sent directly to the School of Management by the person who is asked to complete it.

Graduate Management Admission Test (GMAT)
MS-Finance Applications will not be considered without GMAT scores, unless one meets the terms of the GMAT exceptions policy (see above). Applicants are encouraged to make every effort to take the GMAT test at the earliest possible date and request that score be reported to the University of Michigan-Dearborn.  The Graduate Management Admission Test (GMAT) is administered as a computer-adaptive test. The GMAT website at http://www.mba.com/ describes the GMAT, where it is given, how to schedule an appointment, what to expect at the test center, about your GMAT scores, and how to prepare for the test.

How to Apply
Applications may be completed and submitted online. If you prefer, the application form may be printed, completed, and mailed, along with all supporting documents, to the Graduate Office, School of Management Graduate Programs, University of Michigan-Dearborn, 168 Fairlane Center South, 19000 Hubbard Drive, Dearborn, Michigan 48126-2638. Inquiries on the status of applications should be directed to (313) 593-5460 or gradbusiness@umd.umich.edu.

In addition, you should arrange to have your scores on the Graduate Management Admission Test (and TOEFL, when necessary) reported directly to the School of Management.

Deferred Admission
Admission to a graduate program is good for one year after the term for which admission was granted. If an admitted applicant decides to defer admission, written notification must be sent to the School of Management Graduate Office or email gradbusiness@umd.umich.edu prior to the start of the term for which initial admission was granted.