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The University of Texas at Austin McCombs School of Business TEXAS MSF Full-Time Master of Science in Finance

Texas MSF Brochure

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Page 1: Texas MSF Brochure

The University of Texas at Austin McCombs School of Business

TEXAS MSF

Full-Time Master of Science in Finance

Page 2: Texas MSF Brochure

The Master of Science in Finance ProgramMcCombs School of Business

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Page 3: Texas MSF Brochure

JAY HARTZELL, DEPARTMENT CHAIR

THOMAS GILLIGAN, DEAN

GREG HALLMAN,PROGRAM DIRECTOR

The Texas Master of Science in Finance (MSF) program at the McCombs

School of Business provides a unique opportunity for students to receive

graduate-level training in order to prepare for careers in finance, especially

those requiring analytic rigor and quantitative skills. The program is designed

for students from a wide variety of backgrounds, including liberal arts, natural

sciences, engineering and business. No previous work experience is required,

and the program can be completed in less than a calendar year.

The program seeks candidates who display mathematical

aptitude and demonstrate the ability to handle quantita-

tive material. Students with an undergraduate degree

from an accredited institution who are able to demon-

strate such skills through their undergraduate course-

work and GRE or GMAT scores are invited to apply.

Employment opportunities in the financial services

industries are projected to continue to grow at higher

than average rates and employers seek candidates with

the strong financial modeling skills, numerical computa-

tion abilities, and detailed understanding of the technical

areas of finance that the Master of Science in Finance

provides.

Housed in the McCombs School of Business at the

University of Texas, the Texas MSF program connects

its students with the unparalleled career resources

and alumni networks available to McCombs students.

Centrally located in Austin, Texas, the program provides

students with excellent access to employers at the

increasing number of investment management firms,

energy firms and major corporations in the capital city,

Dallas and Houston, as well as those located in major

financial centers such as New York, London, Chicago and

San Francisco.

Students in the MSF Program will also benefit from the

wealth of activities that stem from the McCombs Depart-

ment of Finance’s centers of excellence. These include

the Real Estate Finance and Investment Center; the Hicks,

Muse, Tate & Furst Center for Private Equity Finance; the

EDS Financial Trading & Technology Center and the Center

for Energy Finance Education and Research.

The Master of Science in Finance ProgramMcCombs School of Business

Page 4: Texas MSF Brochure

The University of Texas at Austin

WHAT STARTS HERE CHANGES THE WORLD

The University of Texas at Austin consists of 17 colleges

and schools and some 150 research units situated on 350

acres in the center of the state’s capital city. More than

51,000 students are enrolled in over 100 undergraduate

and 170 graduate programs. The students come from all

50 states and more than 100 countries around the world.

The university is a national leader in graduate degrees

awarded and boasts more than 450,000 living alumni. Here

students connect to a learning community of substantial

worldwide renown, and upon graduation, become part

of one of the largest and most powerful professional

networks in the world.

The university plays a vital role in providing human and

financial capital not only for Texas, but also for the rest of

the country and the world. Its 150 research units are funded

by over $640 million annually in federal, state and private

grants, fueling groundbreaking research programs that have

led to the filing of nearly 800 patents since the institution’s

founding. It is estimated that $5.8 billion in economic activity

is generated in Texas alone as a result of the university’s

presence. The University of Texas at Austin has truly come

a long way since its founding 130 years ago. Its 21st century

future promises to be just as spectacular as its rise to

preeminence in the last half of the 20th century.

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Page 5: Texas MSF Brochure

The McCombs School of Business

The hallmarks of an education at the McCombs School of

Business include world-renowned faculty, exceptional

student culture and a powerful global network of corporate

and alumni contacts. Through rigorous coursework and a

vast array of hands on and experiential opportunities,

McCombs’ faculty prepare business leaders who can meet the

demanding and complex challenges of today’s business world.

One of the first established business schools in the nation,

the McCombs School graduated its first class of bachelor of

business administration degree students in 1922 and is among

the preeminent business schools in the world today. It awards

undergraduate, master’s and doctoral degrees and is actively

involved in executive education for professionals.

More than 200 McCombs faculty teach 6,000 students

each semester and engage in original research both

independently and through the school’s 15 research

centers. Many are also actively engaged in consulting

for major corporations in their fields of expertise.

The school has more than 68,000 graduates who reside in

all 50 states and in 118 countries. Alumni hold important

leadership positions in business and related fields and

together make up a diverse and influential business

network available to graduates.

Start your journey here, and your ensuing career opportunities will take you wherever you want to go.

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Page 6: Texas MSF Brochure

The Texas MSF Program affords students the opportunity to work with and learn

from our world-class faculty. Renowned for their teaching at both the graduate

and undergraduate levels, the McCombs Finance Department consistently ranks

among the top finance departments in the world. In addition, the department has an

outstanding research reputation, utilizing many of the McCombs School centers of

excellence to support and disseminate their work.

FACULTY

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Page 7: Texas MSF Brochure

JAY HARTZELL

Research Areas: Corporate Finance, Real Estate Finance, Corporate Governance

Classes: Financial Management, Real Estate Capital Markets, Empirical Corporate Finance

“The MS Finance program will provide an opportunity for students to develop valuable skills in finance over a short period of time. By taking quantitatively skilled students and providing them with a rigorous academic program and exposure to current problems and solutions, we will be able to position our graduates for success in the immediate job market and ultimately, over the course of their careers.”

SHERIDAN TITMAN

Research Areas: Energy Finance, Corporate Finance, Investments

Classes: Energy and Corporate Finance

“With an ideal setting at a top research university in a vibrant city, the Finance Department of the McCombs School is uniquely positioned to deliver an outstanding graduate program. By leveraging our faculty’s capabilities in both corporate finance and investments, the MS Finance program provides students with the knowledge and training that is critical to competing in today’s global financial markets.”

LAURA STARKS

Research Areas: Corporate Governance, Mutual Funds, Financial Markets, and Environmental Social and Governance Investing

Classes: Empirical Methods, Portfolio Management, and Environmental, Social and Governance Investing

“What I enjoy about teaching McCombs students is that the combination of their curiosity, enthusiasm, and unique experiences make classroom discussions not only interesting and informative, but also fun.”

JOHN GRIFFIN

Research Areas: International Finance, Structured Finance/CDOs, Hedge Funds, Institutional Investors

Classes: Empirical Methods in Finance, Global Finance, International Finance

“Learning finance is not just memorizing formulas, but also learning how to think about the underlying economic forces at work in financial markets. Our goal is for students to have the tools both to understand the complexities of real-world financial issues, and the ability to think critically in order to reach meaningful solutions.”

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Page 8: Texas MSF Brochure

PURVA PANCHAL

Undergraduate Institution: UT San Antonio

Undergraduate Major: Middle Grades Math Education

“After teaching for a few years, I decided to put my love of mathematics and problem solving to an alternative use by choosing to pursue an MSF degree from the McCombs School of Business. I know my decision will open the door to a world of opportunities at top companies and provide me a variety of career paths to choose from. My newly acquired knowledge and skill-set coupled with the reputation of McCombs will lead me to a promising career in finance.”

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Page 9: Texas MSF Brochure

JARVIS UZOIJE

Undergraduate Institution: University of South Alabama

Undergraduate Major: Finance

“Not only does the program

offer students an opportunity

to gain an in-depth

understanding of finance,

but it also gives students a

chance to network with many

of the school’s prominent

on-campus recruiters. With

an amazing job placement

record, fantastic career

service advisors, and world

class faculty, choosing to be a

part of the McCombs School

of Business MSF program is a

simple choice.”

SIMEON BOCHEV

Undergraduate Institution: UT Austin

Undergraduate Major: Electrical and Computer Engineering

“The curriculum of the MSF

program provides me with

the opportunity to apply

my financial analysis skills

through a practicum that

will enable me to provide

targeted client investment

objectives, value creation

strategies and business

valuation decisions, which

are all essential knowledge

for a strategy consultant.”

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Page 10: Texas MSF Brochure

The Finance Department and the McCombs School of Business host a variety of

finance-related centers of excellence, designed to promote cutting-edge research

and curriculum development and support the role of the McCombs School of

Business at The University of Texas at Austin as a leader across the nation and a

key player in the university’s push to address some of society’s most pressing problems.

of ExcellenceCENTERS

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Page 11: Texas MSF Brochure

REAL ESTATE FINANCE AND

INVESTMENT CENTER

Our Real Estate Finance and Investment Center is the first

research center at a leading university to specialize in the

intersection of real estate and finance. With its home in the

Department of Finance, the center takes advantage of the

exceptional finance faculty in the department to cultivate

cutting-edge research on finance-related real estate issues

such as the valuation of mortgage-backed securities, the

financial structure of real estate investment trusts, the

agency issues associated with real estate financing agree-

ments and the efficiency of real estate investment markets.

ENERGY MANAGEMENT AND

INNOVATION CENTER

The McCombs School of Business established the

Energy Management & Innovation Center to serve

as a center of excellence to promote energy-related

research and instruction. EMIC takes an integrative

and multidisciplinary approach toward energy

problems. EMIC aims to educate students in energy

management and innovation, create intellectual capital

of use to industry and policy-makers, and link the

McCombs School’s activities to the university’s energy

initiatives.

HICKS, MUSE, TATE & FURST CENTER

FOR PRIVATE EQUITY FINANCE

The Hicks, Muse, Tate & Furst Center for Private Equity

Finance supports research on issues related to private

equity finance, capital markets, corporate finance,

investments, real estate, and other associated areas. The

finance faculty at the McCombs School includes a number

of highly accomplished researchers who study areas of

finance related to the private equity market. The center

supports research by faculty as well as by the students

who work with them. The objective of this research is

to better understand the private equity market and the

financial activities of the participants in this market.

of Excellence

AIM INVESTMENT CENTER

The AIM Investment Center is the nexus for integrating

financial research, investment education and practice at the

University of Texas at Austin, bringing together financial

support, information resources, and intellectual capital in

support of those who teach and learn, those who further

knowledge in the field through research and those who use

the efforts of both to enhance the practice of investment

management.

EDS FINANCIAL TRADING AND

TECHNOLOGY CENTER

The EDS Financial Trading and Technology Center is a

state-of-the-art trading, research and teaching facility in

the McCombs School of Business. Its mission includes

assisting students, faculty, executives and the community

to better understand the growing flow of financial data and

to manage the impact of that flow on financial markets;

enabling center users to participate in the development of

new applications of information technology to finance; and

providing technology resources and technical support for

the AIM Investment Center, the Center for Energy Finance,

Education and Research, The Hicks, Muse, Tate & Furst

Center for Private Equity Finance, and the Real Estate

Finance and Investment Center. Success in our mission

depends on providing state-of-the-art facilities, access to

current financial data, and accessibility and support for

those who use the center.

CENTER FOR ENERGY FINANCE

EDUCATION AND RESEARCH

The Department of Finance has identified energy finance

and financial risk management as key areas for innovative

research and curriculum development. Energy and capital

markets are undergoing fundamental transformations that

require the creation of new curriculum and research. More-

over, there is a critical need to better prepare managers to

understand, quantify, monitor, and manage the financial

risks created by volatile energy prices, foreign exchange

rates, and interest rates. The University of Texas established

the Center for Energy Finance Education and Research

(CEFER) in the Department of Finance at the McCombs

School of Business in order to meet the need for a

preeminent academic program in energy finance.

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Page 12: Texas MSF Brochure

The MSF program builds on a wide variety of backgrounds,

providing students with the technical skills required to be

successful in many areas of finance. Typical employment

opportunities include:

CORPORATE FINANCIAL ANALYST

Employing strong analytical skills, accounting knowledge,

and interpersonal skills, corporate financial analysts work

with companies like Frito-Lay, Wal-Mart, and Dell, providing

acquisition analysis and financial assessment of target

companies, performing industry and peer group analysis,

and preparing budgets. They also engage in corporate finan-

cial forecasting, long-range financial planning, and expendi-

ture analysis.

INVESTMENT BANKING ANALYST

Graduates employed as investment banking analysts work

for companies like Goldman Sachs, JPMorgan Chase or

Citigroup where they construct financial models, analyze

financial statements, and conduct due diligence investiga-

tions. Investment banking analysts are expected to generate

prospectuses and are proficient at research, both of market

trends and of potential investors or buyers. These jobs

require excellent interpersonal skills and the ability to work

as a team member, as well as technical proficiencies like

utilizing Excel and writing macros in Visual Basic for

Applications (VBA).

ENERGY FINANCE ANALYST

Energy companies, such as Exxon Mobil, BP, and

ConocoPhillips, employ financial analysts in a wide range

of roles. These include positions that are similar to other

corporate finance jobs, but often place special emphasis

on the understanding and valuation of natural resource

investments, as well as assessing risks and sources of

information from the commodities markets. Similarly, the

top consulting firms, investment banks, and commercial

banks all hire analysts that are dedicated to the energy

industry.

FINANCIAL CONSULTANT

Whether working for large corporations, small consulting

firms, or individual investors, financial consultants are

tasked with analyzing and evaluating a client’s financial

situation, identifying investment objectives, and providing

recommendations on investment services and opportunities.

Financial consultants also advise clients on value creation

strategies, economic forecasting, and business valuation.

Employers include consulting firms like McKinsey, Deloitte,

BC, and Charles River Associates.

PORTFOLIO ANALYST

Portfolio analysts work to monitor and manage investment

portfolios, either for the clients of an investment or finan-

cial services firm, or for the corporation at which they are

employed. Using optimization techniques and risk models,

portfolio analysts manage portfolios, research investment

strategies, develop and implement analyses for portfolios

under management, and analyze and report on portfolio

trends, performance vs. expectation, and strategy validation

and forecasting. Portfolio analysts are employed by compa-

nies like GE, Citigroup, and Fidelity.

CAREERS The McCombs School of Business and the Finance Department have relationships

with a number of prominent employers in investment management, banking, and

corporate sectors who are seeking to hire students who have strong financial

modeling and numerical computation skills, a detailed understanding of the

technical areas of finance, and strong written and verbal communication skills.

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Page 13: Texas MSF Brochure

The Practicum in FinanceThe Practicum is an intensive program spanning the

last half of the fall semester and the first half of the

spring semester during which students work directly

with sponsoring companies on a wide variety of finance

problems.

Students may indicate an area of interest for their

Practicum project in early fall. Students work in small

groups under the supervision of the MSF program

director to complete the project, earning practical

experience and developing a strong relationship with

corporations and potential employers.

The MSF program director and Finance Department

faculty work with various finance-related organizations

to design projects that are valuable to MSF students and

benefit the sponsoring group. Projects are designed to

be accomplished within the Practicum time frame and

culminate in a written report and presentation of work to

the sponsoring company and program faculty.

MSF students have an exclusive career services adviser

to help formulate a strategy that incorporates leadership,

teamwork, and effective communications skills. Employ-

ers have provided direct feedback and input into the

program in order to prepare graduates to enter into the

business world and become leaders within the business

community.

CAREER SERVICES COURSES

Recruitment for MSF students begins very early in the pro-

gram. Therefore, Career Services has integrated a career

course into student orientation that focuses on creating

strong resumes and cover letters as well as familiarizing

the students with the extensive on-campus recruiting tools

that are available. The curriculum continues after the

summer intensive with a career strategies course designed

to improve professional correspondence writing and net-

working skills as well as company research and interview-

ing abilities. These skills are further practiced and utilized

during the semester through career services events, includ-

ing mock interviews and company treks.

CAREER ADVISING AND RESOURCES

MSF Career Services staff is dedicated to the needs of MSF

students and is available to assist you in navigating all the

phases of your future, including career choices, resume

development, interviewing techniques, job search strategies

and offer evaluation.

The Career Services office offers several online resources

for students, including company research portals, resume

templates and literature on interviewing techniques.

MOCK INTERVIEWS

The mock interview process is an opportunity for intensive

practice through simulations in which potential employers

or professional staff members serve as interviewers and

critique the interviewee. These interviews provide valuable

feedback regarding verbal and non-verbal behavior, allow

students to become comfortable with answering spon-

taneous questions, and improve self-presentation skills.

Students also have several opportunities to practice case

interview skills with potential employers.

CAREER WEEK

Career Week occurs during the fall semester and in-

cludes several recruitment-oriented services. The Career

Expo is the largest career fair for the McCombs busi-

ness school with more than 100 recruiters on campus

each year. Additionally, there are several networking

events available to interact with potential employers

across several industries.

ON-CAMPUS RECRUITING

The on-campus recruiting program is a major focus of

Career Services. More than 400 organizations recruit

business students on campus each year using pre-

screen and open sign-up procedures. The on-campus

recruiting system utilized by McCombs is very sophis-

ticated and frequently assessed to maintain McCombs’

standards and integrity among employers and students.

Students also have the opportunity to meet employers

through informational sessions, which are hosted by the

individual companies, to inform students about the job

opportunities, growth potentials and corporate culture

offered by their firm.

Career Services in the MSF Program

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Page 14: Texas MSF Brochure

Tuition and Financial Aid InformationUp-to-date tuition and fee information can be found

on our website. Merit-based fee waivers are available

for outstanding applicants. These waivers do not

require a separate application; all students will be

considered for these.

The MSF program does not offer need-based aid to

any of its students. However, students who need ad-

ditional tuition assistance are encouraged to apply for

financial aid through the University of Texas Office of

Student Financial Services. All financial aid applica-

tions require completion of the Free Application for

Federal Student Aid (FAFSA), and students are urged

to begin this application process as early as possible.

Most aid is in the form of federal or private student

loans.

ADMISSIONS The Admissions ProcessAdmission into the MSF program is competitive. Details

on average GRE and GMAT scores and GPA, as well as

admissions percentages, can be found on our website.

A complete class profile can be found at the back of this

brochure.

A complete application consists of all of the following:

• A completed online application at www.applytexas.org,

including unofficial transcripts,

• Your application fee,

• A Statement of Purpose essay (and 2 optional essays),

• Three letters of recommendation,

• Your resume or CV,

• GRE or GMAT scores, and

• TOEFL scores for international applicants.

These documents are submitted online; directions for upload-

ing them are emailed to each candidate once the ApplyTexas

application is complete and the application fee has been paid.

Deadlines for admission can be found on our website. Only

applications that are complete by each deadline, including

official test scores from the testing agency, will be considered

in each round of admissions.

Qualified candidates will be invited to interview once an

online application and resume are received.

Accepted applicants will be required to submit official

transcripts.

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OUR WEBSITE

The most up-to-date program information is always available on our website, which can be found at

www.mccombs.utexas.edu/msf.

OUR FAQ

Answers to our most common questions can be found on the Frequently Asked Questions page of our website.

EMAIL NEWSLETTERS

Program updates, including admissions announcements, information session dates, and other important news,

are emailed periodically to members of our contact list. To add your name to our list, please check our website.

EMAIL

Program staff is happy to answer direct inquiries via email. Please send your questions and requests to

[email protected]

PHONE

Our program staff can be reached during normal business hours at 512-471-2012.

INFORMATION SESSIONS

Our staff holds frequent information sessions, both in Austin and at various locations around Texas and the

country. Details about these events, including registration deadlines, can be found on the website.

CAMPUS VISITS

If you plan to be in Austin, please contact us at 512-471-2012 or [email protected] to arrange

a visit with program staff and a classroom visit.

For More InformationMore information about our program is available from a variety of sources.

Page 16: Texas MSF Brochure

CONTACT US

www.mccombs.utexas.edu/msf

[email protected]

Phone: (512) 471-2012

Fax: (512) 471-5073