Masters of Science in Economics or Finance or Accounting
The Masters of Science in Economics / Finance / Accounting is a degree for those seeking to learn specific skills relevant to economic or financial spheres. The degree is generally one-year and made up of narrowly focused courses in either economics or finance. The degree enables students to quickly develop expertise in a single field, and thus to move more quickly up the ladder in that field.
Some courses may overlap with an MBA program that has a finance concentration, but the MBA also provides more time for exploration outside of a single interest area and the development of more comprehensive leadership and management skills than the Masters of Science does. For some, the broader focus of the MBA may be helpful, for others, who already have gained management training or are interested in a PhD, or are just starting out, the Masters of Science might be a better choice.
The Masters of Science attracts people at a different point in their careers than MBA, EMBA or part-time MBA degrees.
· On average younger than the full-time MBA student, candidates are not necessarily required to have work experience. Thus it attracts more recent college graduates.
· Not as interested in learning to manage. The degree is more academically focused, teaching skills that are relevant to a particular track.
Though certainly varying from program to program and degree to degree, post-graduation many go into banking, some to economics, or development economics, and some to PhD programs.
Also of interest, in Europe the Masters of Science in Economics or Finance is considered particularly valuable and almost a more traditional path than the MBA. Graduates of Masters of Science programs are seen as skilled but also more flexible in terms of management style and thus companies can train individuals as they see fit.
In an analysis of a b-school application, it is certain that some traits are going to be viewed positively by business schools across the board, for example, high GMAT scores or a high undergraduate GPA. However, certain schools such as MIT Sloan are looking for more particular characteristics in those they accept.
MIT Sloan seeks applicants with a background in Economics or Accounting. This may provide additional insight into the type of students that attend Sloan. In a similar vein, Sloan sees the Quantitative score on the GMAT as being particularly important in their evaluation. Certainly, if you do not see these parts of your application as being particularly strong and have your heart set on applying to Sloan, these facts alone should not deter you. Sloan also prefers a student body made up of people who have engaged in a range of professional sectors and have unique personal interests too.
Overall, it’s good to keep in mind that Sloan is about more than technology; it’s about creativity as well. So show in your application an ability to creatively reflect on who you are and if you are invited to interview, be prepared to respond spontaneously to an interviewer’s unconventional approach.
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