Finance Schools Application Process can be quite challenging as more and more people are applying. You need to stand out of the crowd.
When applying to finance school, you will find that the admissions process can be rather extensive. Begin by applying to your school of choice as soon as possible. Most finance schools have either two or three application deadlines/rounds.
Finance Schools Application Process
Applying in the first round will increase your chances of admission, because there are more empty spots available. By the time the third round has commenced, many students have already been accepted, which lessens your chances considerably.
Your Grade Point Average or GPA is very important in your finance school application process. The higher it is, the better your chances. In general, your GPA should be around 3.6. If not, you still may have a chance if the rest of your application stands out.
The Graduate Management Admission Test or GMAT exam measures basic verbal, mathematical, and analytical writing skills. With a maximum score of 800, the best finance schools prefer applicants with scores around 700. You should prepare this test as professionally as possible including having a strategy for the day of the test. Few people know that the test is adaptive, meaning the better your answers, the harder the next questions and of course the higher your score. On the other hand, if your first few answers are not correct, it will not be possible for you to get a good score. So make sure you answer the first 8 to 10 questions correctly to have a chance of scoring well.
Also, in your Finance Schools Application Process, recommendation letters are often used. Schools will generally require 2 letters. They should be written by people who know you well, be they professors or your manager at work if you have working experience.
When applying to finance schools, you will be asked to write numerous application essays in which you should convince them of the quality of your application. In other words, why should they pick you instead of another applicant, what skills will you bring to the class, to the school, and/or how will you impact the world that we live in… You may have to produce around half a dozen essays, each about ~3,000 words.
If you are successfull through all these steps, you may get to the interview phase. Interview processes depend on the schools. Some will even ask you to interview, independently from the rest of your Finance Schools Application Process.
Other Considerations for Finance Schools Application Process
Of course, if you are considering a finance degree very early, the recommended high school preparation for a finance major includes the following years of study in each subject: four years of English, two years of algebra, one year of geometry, one year of trigonometry, two years of lab science, two years of social studies, and two years of a foreign language. The high school course recommendations vary slightly depending on which area of finance you choose to major in (e.g. public finance, corporate finance or personal finance) for your Finance Schools Application Process.