Master's in Finance (MMF)
Frequently Asked Questions
Admission Criteria and Procedures
Specific Application Requirements
International Applicants
Application Cycle
Course of Study
MMF vs. BS in Business Administration
with a major in Finance
Dual MBA/MMF Degree
Career
Program Miscellaneous
Housing & Transportation
Answers to Frequently Asked Questions
Admission Criteria and Procedures
- What are the prerequisites of the program?
You must have a US equivalent Bachelors degree (i.e., 16 years of education), preferably in a business-related field, and an undergraduate GPA of 3.0 or better.
- Do I have to graduate and receive my Bachelors degree before I can apply?
No, you can apply during your last semester for Fall admittance. Proof of degree and official final transcripts will be required prior to start of the MMF program for a student receiving a Bachelors degree from a school other than The University of Arizona.
- Do I need an undergraduate degree in Finance, Economics or Accounting?
No, though you may be required to take up to three prerequisite courses during the Summer semester before beginning the MMF program if you have a Bachelors degree in another field.
- Is work experience required?
Work experience is not required for our program, and many students start the program directly after completing their Bachelors degree. Other students have work experience and wish to refine their technical and analytical skills before entering the job market. Students benefit from a diversity of age, gender, culture, work experience and background in the program.
- What GMAT score do I need for admission?
There is no minimum GMAT score required for admission to the program, though the desired score is 600 or above. If your score is below 600, you will not be automatically excluded from the applicant pool. The department admissions group considers all parts of your application, including your statement and letters of recommendation, in addition to your GPA and test scores.
- What if my GPA is not high enough, but I still want to enroll?
Our minimum GPA requirement is a guideline and not a hard cut-off point. If your GPA is below the minimum required, you will not automatically be excluded from the applicant pool. In addition to your GPA, the department admissions group considers your statement, resume, letters of recommendation and test scores. The University of Arizona requires students to have at least a 3.0 on your last 60 units of credit from your undergraduate degree or a 3.25 for 12 credit units of graduate courses. However, it is possible, if your other application information shows your potential to succeed in the program, that you may receive a "provisional admission," which will require that you achieve at least a 3.0 GPA in your first semester coursework.
Due to enrollment limits, the Eller School does not find it possible to admit all applicants who meet the minimum entrance requirements. The Eller School, therefore, reserves the right to:
• Refuse admission to any applicant, and
• Require withdrawal of any student whose condition endangers his or her well-being or the well-being of others, and
• Require the withdrawal of any student whose condition precludes him or her from doing the required work.
- Where do I get an application package and what do I need to apply?
You can find a listing of the application package requirements on the Admissions Package Requirements page of Finance Departments website. Information for prospective students is available at The University of Arizona Graduate College website. You will need to send the original completed application and fee to the UA Graduate College. Do not send the fee or financial guarantee information to the Finance Department.
The Finance Department should receive a copy of your application (original sent to the Graduate College), resume, Statement of Intent, two letters of recommendations (in sealed, signed envelopes) transcripts (in sealed, stamped envelopes), copies of your GMAT and TOEFL (if applicable) scores. You should have original GMAT and TOEFL results sent to School Code #4832, Program Code
5ZT-9Z-04.
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Specific Application Requirements
- What standardized exams do you accept and how old can my score be?
The GMAT is the preferred standardized exam for admittance to the MMF program. The GMAT score must be less than four years old at the time you take your first class in the MMF program. The GRE results are accepted only on rare occasion for UA undergraduate and graduates applying for a change of degree. TOEFL is the standardized exam required for international students. Unofficial scores may be submitted with your application package, but official scores are necessary for your official admission to UA.
- Who should write my letters of recommendation?
Your letters of recommendation can be written by a person in academia or in industry (for example, a professor in a relevant course or employer). Because the MMF program is quite technical and analytical and requires full-time dedicated study, you may ask that the letters address these qualities. Please ensure that the letters of recommendation are sent in a sealed envelop, signed on the seal by the author of the recommendation.
- Do I need to send original transcripts?
You are required to submit original transcripts from all of the institutions, other than The University of Arizona, that you attended previous to applying to our program. International students must submit official transcripts and diploma in the original language as well as an English translation. The official transcript should be stamped by The University issuing the transcript and be submitted in a sealed envelop. Transcripts are not required for courses or degrees from The University of Arizona.
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International Applicants
- Do you accept International Students?
Yes, just remember that the application deadline is December 1 for the following Fall semester. Additional information for International Students is available at the UA International Affairs website at
internationalstudents.arizona.edu/
index.shtml
and The UA Graduate College Admissions website at http://grad.arizona.edu/Prospective_Students/Admissions_Requirements/
International_Students.php.
- I am not a United States citizen but am living in the United States.
Do I need to apply as an international student?
Yes, you must apply as an international student, a student must be a U.S. Citizen to apply as a domestic student. In addition, students whose native language is not English must meet the minimum required TOEFL score of 600 (paper-based test) or 250 (computer-based). This requirement is waived only if you have completed a four-year Bachelor's degree from a U.S. college or university.
- Do I need to take the TOEFL and how old can my score be?
The TOEFL score must be less than 2 years old at the time you take your first class in the MMF program, unless you have been living and studying in the United States since taking the TOEFL. The Eller College of Management requires international students to have a minimum TOEFL score of 250 (computer-based test) or 600 (paper-based).
- Is a financial guarantee required?
Yes, students on non-immigrant visas must certify that they possess adequate financial resources to support themselves (and their families if they accompany the student to the U.S.) while in residence at The University of Arizona. The financial guarantee is not needed by the application deadline. If you are admitted, you will then have to submit a guarantee for the appropriate amount to the UA Graduate College. Send all bank statements and/or letters of support with the financial guarantee to the Graduate College Admissions Office as soon as possible. Delays could hold up the processing of your admission and I-20 form.
All international students applying to a university program in the US currently are required by the U.S. government to pay a $100 SEVIS fee before they can begin the application process. As a gesture of good will, The University of Arizona Graduate College will give each newly admitted MS degree seeking graduate international student a $100 tuition scholarship toward out-of-state tuition or in-state fees as reimbursement for the $100 SEVIS fee during the first semester in which they matriculate.
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Application Cycle
- When is my application due? When is the earliest I can apply for the program?
The deadlines for applications are:
December 1: International Applications.
 Includes those currently studying in the U.S.
February 1: Domestic Applications.
U.S. citizens or permanent residents only.
All applications will be reviewed at one time, but you may apply as early as October 1.
- Does my application need to be complete to apply?
No, however applications are not considered complete until all paperwork is received. If you are scheduled to take the GMAT or TOEFL exams after the submission deadline, please include a note and the scheduled exam date with your application. Similarly, for recommendations and official transcripts, include a note indicating the school or reference and that these have been requested to be sent directly to our office.
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Course of Study
- How long will it take to finish the MMF degree?
The MMF program normally takes one calendar year (three semesters) to complete. Students start in the fall semester.
- How many classes does a student take each semester?
The first fall semester you will take three and one-half required classes plus one elective. The second spring semester you take two and one-half required classes plus three electives. During both six week summer semesters, you take three credit hours (a total of six credit hours) for your Masters project, which may be completed in pairs, with your final presentation of the project in August.
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MMF vs. BS in Business Administration
with a major in Finance
- I will be graduating with a BS - Finance, why should I pursue an MMF?
By pursuing the MMF degree, you distinguish yourself from other graduates by your willingness to immerse yourself in the year long analytical study of finance, demonstrating that you are truly interested in the study and application of financial skills. Company recruiters understand the dedication and commitment you required to complete a Masters degree in finance.
Because of the advanced analytical and technical financial skills you will develop in the year long program, the MMF degree places you in greater demand by company recruiters, such as investment management firms that need staff analysts with more technical training than you received in your undergraduate program. The MMF degree allows you to provide needed detailed analysis to decisions making managers, without the longer work experience and curriculum requirements of other graduate degrees.
The professional credential of an MMF may also position you to pursue a CFA (Chartered Financial Analyst) designation. Since the MMF program does not require prior work experience, you can complete and obtain a masters degree without major life disruption.
- What is the difference between the life of an MMF student and a Finance undergraduate student?
The MMF program is a very intensive, technical and analytical program and requires full-time focus on your part. Students who succeed in the program live and breathe the coursework, financial topics and current business, economic and market events. Compared to your undergraduate program, you will find the coursework more difficult, more demanding and much more time consuming. The reward is that you will be technically proficient in financial analysis in a broad-range of finance industries positioned for advancement after you graduate.
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Dual MBA/MMF Degree
- What is the application process for applying to dual degree?
Students need to apply to each program and generally start with the MBA coursework. To obtain a dual MBA and MMF degree, the student must satisfy all requirements for the MBA degree, which includes a minimum of 60 units of coursework. The student must complete a minimum of an additional 18 units of coursework in the Finance Department.
- How long will it take to finish the Dual degree?
The Dual MBA/MMF degree will normally take three years to complete, or a total of six semesters not counting an internship under the MBA program.
- What courses count in both programs?
You will be allowed to count 18 units of MBA Finance elective courses toward the 36 units required for the MMF degree. To obtain the second degree (MMF) and dual MBA/MMF degrees, the student must complete an additional 18 units of coursework, including 12 units of coursework in the Finance Department plus the 6 units of MMF project requirement. [Note that neither FIN 510 (Survey of Finance) nor FIN 511 (Introduction to Finance), core requirements in the MBA programs, count toward the 36 units required for the MMF degree.]
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Career
- What types of jobs can I apply for with my MMF degree?
The degree is aimed at producing trained finance professionals to work in money management and investment, capital markets and risk management, corporate finance in industrial and service organizations, banking, real estate finance and investment, and international organizations. Unlike more specialized Masters degreed programs, the UA MMF program is not geared to a specific industry but rather is a broad general finance program that trains people to work in all areas of finance.
- Where are past MMF graduates working?
Our program graduates are working as financial professionals at Hewlett-Packard, UniSource Energy Corp., Honeywell, the United Nations, Morgan-Stanley, Raytheon and Countrywide Finance, to name some of the organizations.
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Program Miscellaneous
- What is the difference between the MMF
and MBA with a concentration in Finance?
The MMF degree is designed for people who wish to gain in-depth technical knowledge in the field of Finance. The MBA is a broader degree, with a focus on general business knowledge and management. MBAs can choose Master level Finance courses as electives. However, MBAs do not get the same level of exposure to technical financial analysis as those students pursuing an MMF.
Students may also obtain an MBA with an emphasis in Finance. This course of study allows students to meet the requirements of both programs. For more information on the MBA with a concentration in Finance, please visit the Eller Graduate School of Management website.
- What is the difference between the MMF and MBA at admissions?
The difference in focus between the MMF and MBA degrees is also seen in the admissions requirements. MMF applicants have often very recently completed a Bachelors degree. The focus in the MMF program is on strengthening and adding to the technical and analytical skills gained in undergraduate school and/or technical financial work experience. MBA applicants generally have at least three years of managerial work experience. Training in the MBA program builds on this work experience to develop the students' broad perspective of business, enhancing the students' managerial skills.
- What other schools offer a degree similar to yours?
There are other one year programs offered throughout the U.S. Visit www.bus.lsu.edu/academics/finance/faculty/dchance/MiscProf/
MSPrograms.htm for one such listing. Another partial list is available at
www.global-derivatives.com/schools/fin-rankings2003-04.php.
- How much does it cost for the MMF degree program? How do I obtain financial aid?
The 2008-09 total tuition and fees for the program are currently projected to be $20,750 for Arizona residents and $33,550 for out-of-state residents. Fees are subject to change by the Arizona Board of Regents, normally during the six months preceeding the start of Fall semester. Link here for a sample current academic year student budget for Arizona residents and out-of-state residents.
You may contact The University of Arizona Office of Financial Aid for information on available financial aid and scholarships. You can also check the International Student Office website for additional information.
- How do I become an Arizona resident for university tuition purposes?
The rules and regulations for establishing Arizona residency are approved by the Arizona Board of Regents. Please visit the Arizona Board of Regents website for details on establishing residency (http://www.abor.asu.edu/1_the_regents/reports_factbook/residency.html).
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Housing & Transportation
- Where can I find information about The UA Graduate College dorm, La Aldea?
The UA offers housing on campus to graduate students at La Aldea (http://www.life.arizona.edu/graduate/index.asp), a graduate student dorm approximately 1/2 mile from McClelland Hall where all Master's in Finance courses are held.
- Where can I find information about off-campus housing?
The most current information about off-campus housing is available through The UA Student Union (http://www.union.arizona.edu/csil/csa/offcampus/index.php ). It provides an up-to-date list of housing options and availability.
- What is it like at The UA?
The University of Arizona campus and surrounding area is a dynamic part of Tucson's urban fabric. The Eller College MBA website provides a good overview at UA Life.
- What is it like living in Tucson?
What's it like to live in Tucson, a multicultural and evolving city in the Sonoran desert? The Eller College MBA website provides a good overview at Tucson Lifestyle.
- What parking and transportation options are available?
A number of options are available to students and described on the Parking and Transportation Options page.
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