Finance MBA in the post-recession era: The evolution of Finance programs in top MBA schools
Love it or hate it, Finance is an area of study, you
just cannot ignore. What caused the sub-prime crisis? Why is there
a need for more socially responsible businesses? How should
companies react to the recession? What is the kind of growth we
will see in banking and insurance sector in the coming years? How
do you fool proof your company against losses during an economic
meltdown? These are just a few questions that become more relevant
today than ever before.
MBA in Finance has traditionally been one of the most
popular programs sought by students because of the myriad career
opportunities it opens up in fields such as investment banking,
retail banking, insurance and securities, institutional finance,
corporate finance, international finance, consulting,
entrepreneurship, etc. However, the economic meltdown has led top
programs such as Chicago Booth, Harvard School of Business, etc.,
to adapt to the recent changes and introduce new courses in their
curriculum. Chicago Booth recently launched, "The Analytics of
Financial Crisis", an advanced course that uses the tools of
corporate finance to analyze financial crises, "The Firm and the
Non-Market Environment" that will examine business lobbying,
regulation, environmental issues, corporate social responsibility
and other topics. "Managing the Financial Firm" that Prof Clayton
Rose of Harvard Business School introduced examines the challenges,
opportunities and responsibilities of leadership in
the financial services industry in the context of the
financial crisis.
Following are some business schools in U.S. with a
strong reputation in finance:
1. University
of Pennsylvania, Wharton: Wharton is by far the
best school to get your MBA from if you want to pursue a career in
finance. Wharton's most popular major, Finance is also a common
choice for a double major. It appeals to those interested in the
finance sector, including investment banking, investment
management, hedge funds, and private equity. Specialization in
Finance is also a good choice for those considering careers in
corporate treasury, retail banking, and consumer finance. Finance
majors often fill management consulting jobs and corporate finance
positions in other industries - for example, in mergers and
acquisitions in the energy sector. The Finance major combines
particularly well with Strategic Management, Marketing, and
Operations and Information Management.
2. University
of Chicago, Booth: In Chicago Booth's legendary
finance curriculum, covering corporate finance and investments,
students learn to evaluate risk and reward through an empirical
lens. Chicago Booth's corporate finance offerings prepare students
at the business level: Should a company buy or build? Should they
borrow money or issue stock? How should they compensate executives?
Should they hedge costs, and if so, how? Investments courses
prepare students to make decisions in financial markets: What
determines stock and bond prices? How does one evaluate a fund
manager? What financial risks carry big rewards, and how should an
investor allocate his or her portfolio to take advantage of them?
Through Chicago Booth's culture of questioning and debate, students
acquire a healthy skepticism that prompts them to look at each
solution and probe for better explanations.
3. New
York University, Stern: The fact that NYU Stern is located in the
business capital of the world definitely has its advantages, but
what is truly attractive about Stern is that it integrates
experiential learning throughout its program. One of the finest in
the world, Stern's Finance department provides the necessary
education for students seeking positions in industry, in financial
institutions or in government or nonprofit institutions. Students
work with field leaders and have the opportunity to participate in
real-world learning programs like the Michael Price Student
Investment Fund.
4. Massachusetts
Institute of Technology, Sloan: Within the MIT Sloan
School's MBA Program, the Finance Group offers the Track in
Finance, which consists of required courses, electives, and
extra-curricular activities designed to prepare MBA students for
careers in the finance industry. Any MBA candidate may elect to
participate in the Track in Finance and, upon completion of the
track requirements, will receive a Track in Finance Certificate in
addition to their MBA degree.
5. Stanford
Graduate Schoolof Business: The faculty of the
Stanford finance group has wide expertise in all major areas of
finance, including:
•
Asset pricing: the study of how security prices and interest rates
are determined in the market
•
Corporate Finance: the study of how corporations raise capital and
make investment decisions
The faculty strives to produce a broad range of finance-related
research that addresses topics of interest to academic researchers,
practitioners, and policy makers. This research is communicated
both through scientific journal publications, and through the
development of relevant and rigorous MBA and Executive Education
programs. Also, future finance scholars are trained and mentored
through the PhD program, which is regarded as one of the top
finance doctoral programs worldwide.
6. ColumbiaBusiness
School: Finance and Economics is the largest division of
Columbia Business School, offering nearly half the courses at the
School. Recruiters consistently rank Columbia among the top schools
in the country for finance, and more than half of the School's
graduating MBAs take finance-related jobs. Columbia's many
distinguished alumni in the financial world provides them with one
of the country's strongest networks of contacts and support.
The strength of the Finance and Economics Division lies in its
alumni, students and faculty members, who include world-class
scholars and award-winning teachers. Wall Street practitioners
supplement the Columbia Business School curriculum with their
insight drawn from the practical world of finance. Because of its
location in the world's financial center, Columbia Business School
offers an unparalleled range of courses, from the broadest
perspective to very specific areas of interest. Columbia's students
boast strong academic credentials, varied business backgrounds and
an array of nationalities, interests and talents.
7. Universityof
California, Berkeley, Haas: The Finance Program at Haas, UC
Berkeley is known world over for its meticulous training from top
scholars and its firm base in real-world applications. About
one-fourth of MBAs from Berkeley-Haas join the financial services
industry. Following are some of the careers students can choose
from post their degree in Finance: Investment banking (which covers
corporate finance, capital markets, equity research, and sales and
trading), Management consulting firms, Hedge funds, Mutual and
buy-side funds, Venture capital and entrepreneurial finance,
Economic development.
Students also get a chance to hone their skills through
initiatives like Internships with top financial firms, a
CEO-mentoring program, participation in the Haas Finance Club,
networking with industry executives at Haas finance conferences and
the Berkeley Entrepreneurs Forum, Extramural real estate
development and finance competitions. Haas Finance Club has been
conducting the yearly Berkeley Finance Conference since 2007 where
the top industry executives and academics as well as the Haas MBA
students participate.
To get complete information on MBA admissions process of
various business schools in the U.S., visit the Gurome website. Our MBA admissions
consultants can help you with your MBA admissions essays and
overall application. Subscribe to this blog and connect with us on
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Posted by kalyani  at Aug 3, 2010 12:02:41 PM | |