Vanderbilt MS Finance 2015 Viewbook

Vanderbilt MS F ina nce 20 15

Master of Science in Finance

Your fast track to a career in Finance.

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vanderbilt MS Finance

Credit Suisse Deutsche Bank Goldman Sachs Morgan Stanley Raymond James Just a few of the firms that hire Vanderbilt MS Finance students.

Jump start a rewarding career.

In just nine months.

This nine-month program can open the door to a wide array of career possibilities in corporate finance, investment banking, sales and trading, asset management, real estate, consulting, investment research and more. You’ll learn from the faculty in Vanderbilt’s world-renowned, industry-shaping finance department. And you’ll reap the rewards of a rigorous yet flexible curriculum that allows you to tailor your studies with MBA-level electives. Some of the benefits of the Vanderbilt MS Finance program include: n One-on-one

career coaching and interview preparation

n Small,

diverse cohort that offers close relationships with classmates and professors

n Designing n A

a curriculum based on your interests and background

global network of Vanderbilt finance a lumni

n On-campus n Hands-on

company information sessions and recruiting

leadership development program

Program length

Nine months, full-time

Designed for

Recent college graduates with strong analytical skills and a quantitative aptitude.

Class profile* Class size—41 Age—24

Undergraduate GPA—3.58 GMAT—700 Women—26%

Foreign Nationals—35% Firms that hire

Bank of America Merrill Lynch, BlackRock, Bridgewater Associates, Capital One, Credit Suisse, Deutsche Bank, Exxon Mobil, Goldman Sachs, Jeffries, JPMorgan, Microsoft, Morgan Stanley, Raymond James, Robert W. Baird, SunTrust Robinson Humphrey, Wells Fargo

98

%

The percentage of students from the class of 2014 who accepted a job offer within 90 days of graduation.

50

%

The percentage of your coursework that is customized with electives.

9:1 Approximate ratio of Vanderbilt Business students to faculty. Our programs are small by design.

* Multi-year average

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owen.vanderbilt.edu/msfinance

Please take note of our Finance department.

Wall Street already does.

Vanderbilt’s Finance faculty aren’t just world-class. They’re world-renowned.

One literally changed the way NASDAQ does business. Another created the “Fear Index” (VIX) for the Chicago Board Options Exchange (CBOE) to measure market volatility. One served as Chief Economist and Director of the SEC’s Division of Economic and Risk Analysis.

Yet another is one of the foremost experts on hedge funds. Well, you get the picture.

Along with Wall Street, recruiters have also taken note of Vanderbilt’s Finance department. As a result, we have a strong history of placing students with the world’s top financial services institutions.

1.027

$

billion

The total amount paid in settlements after Vanderbilt Finance Professor Bill Christie helped uncover a collusion scheme among NASDAQ traders that was shortchanging investors.

Professor Bill Christie

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80.86

The highest closing on record in the last two decades of the CBOE’s Market Volatility Index (VIX), a critical gauge to measure the “fear” sentiment among investors. The index was developed by Vanderbilt Finance Professor Robert Whaley and closed at its peak on November 20, 2008, two months Source: CBOE after Lehman Brothers filed for bankruptcy.

Professor Robert Whaley

Former Chief Economist for the U.S. Securities and Exchange Commission

Professor Craig Lewis

The post that Vanderbilt Finance Professor Craig Lewis was tapped to fill by former SEC chairman Mary Schapiro from 2011 to 2014. Lewis, a widely published researcher, has played an instrumental role in helping the SEC implement the detailed regulations that accompany a sweeping set of financial reforms passed by Congress in 2010.

Now he’s back at Owen pioneering research that searches keywords in regulatory filings to help flag potential fraud.

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Professor Nick Bollen

The number of Nobel Laureates who have attended the Vanderbilt Financial Markets Research Center (FMRC) conference over the past five years.

The number of suspicious patterns Vanderbilt Professor Nick Bollen has identified in fund returns to detect the kind of investment fraud perpetrated by people like Bernard Madoff.

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owen.vanderbilt.edu/msfinance

Q: Where can an M

There isn’t just one great career path with this degree. You’ll find a range of opportunities open to you, depending on your goals and interests:

Investment Banking

A: Where

Real Estate Finance

Help bank client corporations acquire capital by Impact real estate investment decisions, such as creating and issuing debt and equity securities, helping a firm discover, purchase, develop or sell and play a key role in facilitating company a building or property. financial reorganizations, mergers or acquisitions.

Corporate Finance

Investment Research

Ensure the financial well-being of a specific company by measuring, forecasting and reporting company financial information, creating and running financial models used in making investment decisions, studying possible acquisitions, producing financial statements, developing a capital spending program and more.

Research and analyze company financials and economic trends, and produce reports or financial models used by bank clients or by an investment firm to make investment portfolio decisions.

Private Wealth Management

Advisory Services & Consulting

Build a base of clients with high net worth and provide personalized, comprehensive financial planning, including investment strategies and risk management.

Provide expert advice and support to client companies, such as determining the value of assets, or produce financial analysis used during corporate litigation.

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S Finance take you? do you want to go?

“I’m leaving Owen a completely different person than when I came in. I’ve learned more than I can ever imagine learning—I passed the first level of the CFA and I have my dream job.”

Kelly Smith

Vanderbilt MS Finance | 2013 Private Investment Team Analyst UNC Management Company Raleigh Durham

“The MSF program allowed me to open up the job market and get into some different areas that I wouldn’t have been able to reach coming out of undergrad.”

“This is a very special opportunity. Owen has a unique culture where the faculty are interested and dedicated to investing in you.”

Sam Gillespie

Lubaina Balasinorwala

Vanderbilt MS Finance | 2013 Private Banking Analyst J.P. Morgan New York

Vanderbilt MS Finance | 2012 Analyst KPMG Atlanta

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“The courses are designed to help people from all educational backgrounds learn about finance and succeed in the program.”

thomas sigle

Vanderbilt MS Finance | 2014 Banking Analyst Sun Trust Robinson Humphrey San Francisco

owen.vanderbilt.edu/msfinance

Get an edge get

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in ting a job.

Throughout the nine-month program, you’ll benefit from a wide array of training and resources at Vanderbilt, all focused on your goal: landing a great job after graduation.

Most notably, you’ll receive invaluable one-on-one training with our dedicated career coach, who will help you become more aware of your skills, attributes and interests. Explore various finance-related career paths. Develop a career focus, goals and a specific personal plan. Identify and engage companies you’d like to work for.

Become a more savvy networker. Craft your personal story. Hone your interviewing and negotiating skills. Gain access to some of the world’s most prestigious companies through our alumni network and on-campus interviewing.

Among the other ways we help you launch your career: n

Courses in professional and career development and communications

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Peer coaching from second-year Vanderbilt MBAs concentrating in Finance

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A “Wall Street Trek” to some of the world’s leading financial firms

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Investment banking and corporate finance academies through the Owen Finance Club

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Alumni networking events

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Mock interview training with alumni in target industries

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Industry-leading case interview prep

n

Career development workshops

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On-campus recruiting opportunities

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Vanderbilt’s online career resources

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Leadership Development Program

Owen altered my mindset from “I need to get a job” to “how can I align my skills and passions” and encouraged me to form mutually beneficial relationships instead of just networking. This change to my job search made all the difference.

Joshua Simmons (MSF ’14) Asset Based Lending Analyst SunTrust Robinson Humphrey

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owen.vanderbilt.edu/msfinance

One Day in the Life: Michael Reilly 7:00 AM

Wake up, get ready for class (which, fortunately, is right across the street from my apartment).

8:00 AM

9:30 AM

on networking and landing a job—emailing alumni, scheduling informational interviews, researching companies as potential employers.

Head home (since it’s so close) and grab a quick breakfast.

10:15 AM

Return to Owen to work

11:20 AM

Financial Economics II with Professor Nick Bollen to learn about capital allocation between risky and riskfree assets.

Financial Modeling class with Professor Kate Barraclough. Today we are learning to use simulations to evaluate investment projects.

12:50 PM

Break for lunch with friends, most often at

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Chipotle, Subway or Ken’s for sushi.

2:00 PM

Econometrics class with Professor Cliff Ball. We are continuing our study on volatility models.

3:30 PM

Time for homework or sometimes an informational interview or working on a team project, depending on the day. Most of our classes have team projects, with a new one due each week

Michael Reilly grew up in New York and interned at Nissan North America before starting the MS Finance program at Vanderbilt. Enjoying his time in the South, he decided to stay, accepting an investment banking position after graduation with Stephens, Inc., in Little Rock.

Here’s how he describes a typical day during the busiest time of the program’s nine months.

and a big project at the end of the Mod.

5:00 PM

Head downtown with some classmates for dinner and a Predators game. I was goaltender in college at Cortland State. I’m a big NY Rangers fan but now will forever have a soft spot for Nashville.

10:00 PM

Finish up any homework and go to bed.

For more examples of typical days in the life visit owen.vanderbilt.edu/msfinance

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owen.vanderbilt.edu/msfinance

You’ll get a solid grounding with core curriculum, along with the opportunity to tailor your studies to your own needs and interests.

Choose the courses that are the best fit for you (including many from our highly ranked MBA program). Here, more than half your courses will be electives.

get Rigor. without Things you will study

(required for all MS Finance students) Financial economics Econometrics Accounting Financial modeling Corporate valuation Derivatives markets

Finance courses you may study

(choose at least four) Corporate financial policy International financial markets & instruments Equities markets Bond markets Hedge funds Financial institutions Mergers & acquisitions Venture capital/private equity Risk management Financial data analysis Derivative securities valuation Active portfolio management Corporate restructuring Federal income taxation of mergers & acquisitions Corporate restructuring for distressed firms

Other business electives you may take Business in the world economy Managerial economics Financial reporting Taxation of business & transactions Advanced management accounting Financial analysis of environmental, social & governmental issues Corporate strategies for environmental, social & governmental issues Game theory & business strategy Real estate financial analysis Real estate development Real estate finance & capital markets Property law for business students Commercial real estate transactions Negotiation Ethics in business Advanced financial reporting & analysis Taxation of corporations & shareholders Introduction to law & business Advanced spreadsheets for IT applications Financial statement analysis

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Professor Cliff Ball Professor Kate Barraclough

rigidity.

Professor David Parsley

Professor Kimberly Pace

MS Finance Curriculum at a Glance Module 4

Financial Economics II (2)

Corporate Value Management (2)

Elective

Elective

Econometrics I (2)

Econometrics II (2)

Elective

Elective

Accounting* (2)

Derivatives Markets (2)

Elective

Elective

Financial Modeling (2)

Elective

Elective

Spring Break

Module 3

Winter Break

Module 2

Elective

Commencement

SPRING

Module 1

Fall Break

Orientation Financial Economics I (2) Professional Dev. and Communications (1)

FALL

(x) = credit hours * Students with prior accounting classes may substitute Financial Reporting (411) for Introduction to Accounting (311) with approval of the Faculty Director.

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CLASS PROFILE All Vanderbilt Business students have one thing in common: They’re different. But while there’s no risk that we’ll ever reduce students to statistics and averages, here are a few figures that will give you a picture of who your classmates might be.

MS Finance Profile Class of 2015 Class Size . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 Women . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23% Undergraduate GPA Average . . . . . . . . . . . . . . . . . . . 3.45 Average GMAT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 679* Foreign Nationals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20% Minorities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12% * GRE accepted as well

Partial List of Undergraduate Majors n n n n

Economics Applied Mathematics Accounting American Government

n

n

Journalism & Mass Communication Business Engineering

Partial List of Undergrad Institutions n

n n n n

The George Washington University Furman University Northwestern University Michigan State University Tufts University

n n n n n n

Tulane University The Ohio State University University of Virginia Villanova University University of Alabama Vanderbilt University

application deadlines

We encourage you to apply as early as possible in the admissions cycle.

Application

Round

Deadline to Apply

Decision Deadline

Deposit Deadline

Early

Oct. 30, 2014

Dec. 19, 2014

Jan. 15, 2015

1

Dec. 17, 2014

Jan. 23, 2015

Feb. 19, 2015

2

Jan. 15, 2015

Mar. 20, 2015

Apr. 21, 2015

3*

Mar. 10, 2015

Apr. 24, 2015

May 20, 2015

4*

May 13, 2015

June 5, 2015

June 15, 2015

*Limited to US Citizens, Permanent Residents or International students with four-year U.S. undergraduate degrees.

Applications are accepted and reviewed after the 4th round on a rolling basis.

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admissions requirementS

ADMISSIONs EVENTS

Successful candidates will have strong academic performance in prior university studies, with significant proven quantitative experience and aptitude. They will be able to demonstrate both teamwork and leadership during their undergrad experiences as well as relevant internships. To be considered, all applicants will provide the following:

Fall Open Houses

n

Online application Undergraduate transcript (and graduate transcript, if applicable) n GMAT or GRE score (you may submit your application prior to taking the exam) n Essays n Two letters of recommendation n Resume n Interview (by invitation only) n

Open houses allow visitors to learn more about the program and interact with current students, faculty and staff.

The day will include lunch with current students, a visit to class and an overview of program resources. Applicants may request an in-person interview. n n

Monday, October 27, 2014 Monday, December 8, 2014

Campus Visits

Interviews

Select applicants are invited to interview with a member of the Admissions team in person or by video call. In some instances, a second interview may be required.

Candidates may be granted an interview during Open Houses and Campus Visits.

Interviews are limited and candidates should register early.

Spring campus visits begin on a Sunday evening and allow visitors to spend time with our community members, attend class and participate in an in-depth career management discussion. n

January 25-26, 2015 March 15-16, 2015 n April 12-13, 2015 n

For applicants from outside the U.S.

International applicants benefit from being able to show familiarity with the culture and business practices of the United States that may include internships or undergraduate work. In addition, these students will require proof of English-language proficiency such as TOEFL. Prerequisites: Students must have completed a semester in statistics and two semesters of calculus or linear algebra from an accredited school, with a grade of B or better. Additional prerequisites may be required on a case-by-case basis. Students may be admitted to the program before these requirements are met. Candidates who do not have the requisite math or statistics class are still encouraged to apply. In these cases, candidates may be required to complete an online course in calculus or statistics.

Welcome Weekend

Welcome Weekend is your time to celebrate with your new classmates. By invitation, admitted applicants enjoy a welcome reception and meetings with students, faculty, deans, Admissions and Career Management team members, plus a tour of Nashville’s great nightlife. n

TUITION AND FINANCIAL AID Merit-based scholarships may be awarded based on achievement and potential.

April 17-18, 2015

Estimated Expenses Tuition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 47,950 Books/Supplies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,842 Rent/Utilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,918 Meals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,986 Personal* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,770 Transportation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,994 Loan Fees**. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,296 * Includes allowance for the University Health Insurance Fee and for the Activity/ Recreation Center Fee (projected). ** Average loan fees incurred by similarly classified borrowers during the previous academic year.

owen.vanderbilt.edu/msfinance

We’re a different type of business school.

We’re competitive, not cutthroat.

We lead with ideas, not egos.

We have a name in Finance you can bank on.

Master of Science in Finance

Vanderbilt University Owen Graduate School of Management 401 21st Avenue South Nashville, TN 37203-2422

Telephone: 615.322.6469 Fax: 615.343.1175 Email: msfinance@owen.vanderbilt.edu Web: owen.vanderbilt.edu/msfinance Hours: 8:00 AM – 5:00 PM, US Central Time

©2014 Vanderbilt and the Vanderbilt logo are registered trademarks and service marks of Vanderbilt University. REV. 12/14 Vanderbilt University is committed to principles of equal opportunity and affirmative action.

Visit owen.vanderbilt.edu for Vanderbilt University’s complete EEO and affirmative action statement.