M.S. in Finance

By mastering the enduring principles that underlie financial markets, MSF students broaden their career opportunities and make names for themselves in their fields. Our program emphasizes financial analytical skills that students can bring to workplaces in corporate finance, asset management, and investment banking.

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At a Glance

How may courses are required?


The program requires 10 courses.

How long will it take?


Full-time students have 12 months to complete the program while part-time students will take approximately 20 months.

What else is required


All M.S. in Finance students are required to complete 10 hours of community service in order to graduate.

196,000+

Boston College Alumni

43,000+

Carroll School Alumni

#19

Financial Times Faculty Research Ranking

(Average ranking over the past five years)

Curriculum

Program Length

Students have 12 months to complete the 10-course program. Full-time students typically take four classes in each of the fall and spring semesters, and finish their degrees by taking two classes during the summer.

Students will complete Managerial Statistics, which is a self-paced online course, during the summer prior to arriving on campus. Students will receive instructions and information about the course from the Graduate Student Services Office in June. All assignments for this course will be due by mid-August.

7

Core Courses

Fall

  • Investments (MFIN8801)
  • Corporate Finance (MFIN8807)
  • Management of Financial Institutions (MFIN8820)
  • Financial Econometrics (MFIN8852)

Spring/Summer

  • Quantitative Portfolio Management (MFIN8803)
  • Derivatives & Risk Analytics (MFIN8860)
  • Advanced Corporate Finance (MFIN8881)

3

Elective Courses

These electives must be at the MFIN66XX or MFIN88XX level (MFIN77XX level courses are for Full-time MBA students only). Electives may have more than one pre-requisite. Please check Agora under "Course Information and Schedules" for specifics.

Program Length

The quantitative finance track is a STEM-designated track, and allows you to complete the 10 total courses required for the MSF in one full year of study (12 months). Full-time students can typically take four classes in each of the fall and spring semesters, and finish their degrees by taking two classes during the summer.

Students will complete Managerial Statistics, which is a self-paced online course, during the summer prior to arriving on campus. Students will receive instructions and information about the course from the Graduate Student Services Office in June. All assignments for this course will be due by mid-August.

8

Core Courses

Fall

  • Investments (MFIN8801)
  • Corporate Finance (MFIN8807)
  • Management of Financial Institutions (MFIN8820)
  • Financial Econometrics (MFIN8852)

Select four of the following spring/summer courses

  • FinTech and Cryptocurrencies (MFIN6650)
  • Quantitative Portfolio Management (MFIN8803)
  • Global Macro and the Financial System (MFIN8850)
  • Derivatives and Risk Analytics (MFIN8860)
  • Behavioral Finance (MFIN8865)
  • Data Analytics in Finance (MFIN8870)
  • Fixed Income Analysis (MFIN8880)

2

Elective Courses

These electives must be at the MFIN66XX or MFIN88XX level (MFIN77XX level courses are for Full-time MBA students only). Electives may have more than one pre-requisite. Please check Agora under "Course Information and Schedules" for specifics.

STEM Designation

Boston College’s Master of Science in Finance (MSF) Quantitative Finance Track is a STEM (science, technology, engineering and math) designated program. This classification allows international MSF graduates on an F-1 visa to potentially qualify for an additional 24 months of training in their field of study (called Optional Practical Training or OPT) beyond the standard 12 months. Eligible F-1 nonimmigrant students with a STEM degree from a Student & Exchange Visitor Program (SEVP) certified U.S. school who participate in an initial period of regular post-completion OPT (typically 12 months) may be eligible to apply for a STEM OPT extension.

To qualify for a 24-month STEM OPT extension, an F-1 student must:

  • Have completed a degree in an eligible STEM field from an SEVP certified U.S. school.
  • Maintained lawful F-1 status during the standard 12 month period of OPT.
  • Have employment through an employer enrolled in USCIS’s E-Verify employment eligibility verification program.
  • Work with the employer to complete a formal training (I-983) and learning objectives.
  • Be employed at least 20 hours per week in a position directly related to the STEM degree.

STEM OPT Help Hub

Program Schedule

The part-time option offers a flexible schedule, enabling you to earn your degree while continuing to advance your career. Part-time students take two classes per semester on average. At this pace, the total duration of the 10-course program will be approximately 20 months.

Students will complete Managerial Statistics, which is a self-paced online course, during the summer prior to arriving on campus. Students will receive instructions and information about the course from the Graduate Student Services Office in June. All assignments for this course will be due by mid-August.

7

Core Courses

Required Courses

  • Investments (MFIN8801)*
  • Corporate Finance (MFIN8807)*
  • Management of Financial Institutions (MFIN8820)
  • Financial Econometrics (MFIN8852)
  • Derivatives & Risk Analytics (MFIN8860)

* As Investments and Corporate Finance are prerequisite courses for most other finance classes, students should plan to take these courses first.


Choose One of the Following Courses

  • Quantitative Portfolio Management (MFIN8803)
  • Fixed Income Analysis (MFIN8880)


Choose One of the Following Courses

  • Advanced Corporate Finance (MFIN8881)
  • Corporate Valuation and Restructuring (MFIN8821)

3

Elective Courses

These electives must be at the MFIN66XX or MFIN88XX level (MFIN77XX level courses are for Full-time MBA students only). Electives may have more than one pre-requisite. Please check Agora under "Course Information and Schedules" for specifics.

Course Information and Schedules

Course Waivers

Incoming students who took an MSF core course as an undergraduate may be eligible to waive the course, and to replace it with an elective, by passing a waiver exam. Waiver exams must be completed no later than the deadline of August 1. Incoming students requesting a course waiver must submit requests to Professor Michael Barry. Students will be notified of the results of their waiver exam prior to the start of the Fall semester.

MSF students who received an undergraduate degree from Boston College and who achieved a minimum grade of B+ in an MSF core course taken at Boston College will be allowed to replace that course with an elective, provided they have taken the course within the past five years. Students who received a grade of B or lower or who took the course more than five years prior to starting the MSF program may take a waiver exam or they may retake the course with a professor other than the one who taught their undergraduate course.For more information please contact the Office for Graduate Programs at 617-552-3773.

Community Service

The Carroll School has a proud tradition of service to our community. In keeping with that tradition and with our Jesuit heritage, all M.S. in Finance students are required to complete 10 hours of community service in order to graduate.

Community Service Guidelines

Class Profile

Class entering Fall 2023

Full-Time Students

Academic & Professional Profile

Average Undergraduate GPA3.31
Average GMAT Score665
GMAT Score 80th Percentile Range610–720
Average GRE Score322
GRE Score 80th Percentile Range304-334
Average Full-Time Work Experience<1 year
Work Experience 80 Percentile Range0–1 year

Diversity

Women39%
AHANA*11%
International78%
Average Age23
Age Range20–35

*African-American, Hispanic, Asian and Native American.

Note: All class profile information is accurate as of September 12, 2023

International Enrollments

Bangladesh

Canada

China

Denmark

Hong Kong SAR

India

Indonesia

South Korea

Sweden

Taiwan

United Kingdom

Undergraduate Majors

Part-Time Students

Academic & Professional Profile

Average Undergraduate GPA3.43
Average Full-Time Work Experience>2 years

Diversity

Women38%
AHANA*46%
Average Age25
Age Range21-47

*African-American, Hispanic, Asian and Native American.

Note: All class profile information is accurate as of September 12, 2023

Tuition & Aid

An MSF from the Carroll School is an excellent investment in your future. We offer merit-based scholarships and financial assistance to qualified applicants. Loan and work study programs are also available.

Alumni Experiences

Rosie Rui
Rosie Xue Rui ’20, Quantitative Financial Analyst, Zenith Stone Asset Management

“The BC MSF offers a perfect blend of quantitative and qualitative classes, industry exposure, and programming—all of which aligned perfectly with my goals.”

Madison Borrelli
Madison Borrelli ’21, Ph.D. in Finance Candidate, University of Central Florida

“Not only was I being academically challenged inside of the classroom, but I was also strengthening my networking and communication skills, while making lifelong connections.”

Cole Conderman
Cole Conderman ’22, Advisory Associate, KPMG

“I chose to pursue my MSF at Boston College due to the reputation of the Carroll School name, BC’s proximity to America’s major financial hubs, and the program’s world-class educational experience.”

Udaypaul Chilana
Udaypaul Chilana ’22, Investment Analyst, Cambridge Associates

“The professors are what make Boston College unique. They are some of the top minds in their fields, with extensive academic and professional achievements.”

FAQ

Does the MSF program prepare students for the CFA exam?
<p>The primary purpose of the MSF program is to prepare students for careers in finance, not to pass the CFA exam. However, our students have achieved a high success rate on the exam in the past several years.</p>
bc:schools/carroll/admission/search-tags/msa-msf-prepare-cfa
How do I apply for the MSF Quantitative Finance (STEM-designated) Track?
<p>While filling out your application, you should just apply to the MSF program as a whole. Upon admission, we will ask you in the enrollment form to indicate if you are interested in pursuing the STEM-designated track.</p>
bc:schools/carroll/admission/search-tags/msa-msf-stem
Is work experience required for admission to the MSF program?
<p>The MSF program is open to both those with work experience and those without. For international students, however, we highly recommend that students have some work experience, particularly if they are seeking post-MSF employment in the United States due to the increasingly competitive US employment market. The MSF Program is designed to meet the diverse needs of finance professionals, career changers, and recent undergraduates. To learn more about our current students’ academic backgrounds and work experience, <a href="https://www.bc.edu/content/bc-web/schools/carroll-school/graduate/ms-programs/ms-in-finance.html">view the class profile</a>.</p>
bc:schools/carroll/admission/search-tags/msa-msf-work-experience-msf

Connect

Virtual Coffee Chats

Chat with a current student and learn more about the BC MSF program.

In-Person Campus Tours

Enjoy a 30-minute walking tour of Fulton Hall and upper campus.


Application & Requirements

Application Link & Deadlines

Apply Now

Application Fee: All applicants are required to pay a nonrefundable application fee of $100 USD.

Admission Decisions: Applications are generally reviewed on a rolling basis. This means that, provided their applications are complete, applicants may receive admission decisions before the notification deadlines. However, it is important for applicants to understand that decisions are only guaranteed by the official notification date.

Rounds & Final Deadlines: For priority consideration, applicants must submit their applications by the earliest date possible. Applications received after the last deadline are reviewed on a space-available basis.

Full-time MSF 2024 Deadlines

Program Start DateApply ByReceive Decision By
August 2024October 24, 2023December 21, 2023
 January 9, 2024*February 29, 2024
 March 12, 2024*May 23, 2024
 May 7, 2024June 13, 2024

Part-time MSF 2024 Deadlines

Program Start DateApply ByReceive Decision By
January 2024October 10, 2023November 30, 2023
 December 5, 2023Rolling+
August 2024January 16, 2024March 28, 2024
 March 5, 2024May 9, 2024
 July 9, 2024August 8, 2024

* International applicants are strongly encouraged to apply by these deadlines.

+ Rolling notification date: Candidates with complete applications, which include the receipt of letters of recommendation, will receive decisions within ten business days.

Boston College Fifth-Year BC Applicants

Boston College undergraduates currently in the second semester of their junior year or at any point in their senior year are eligible to apply to the Master of Science in Finance program as fifth-year applicants. Once enrolled, students can complete their MSA or MSF degree in as little as nine months from the program start date.

Fifth-year applicant requirements

Resume or CV

Use this component of the application to outline your educational background and professional experience, including part-time and internship roles with months and years in each position.

✓ Application Tip: We recommend limiting your resume to one to two pages. Please also make sure that your resume corresponds to the information submitted in the “Employment” section of your online application.

Transcripts

All applicants must possess a four-year bachelor’s degree from an accredited college or university. You must submit transcripts from every institution where you were enrolled in a degree-granting program. At the time of application, only a self-reported transcript is required but if you are admitted, we will require an official transcript sent directly from your degree-granting institution. Transcripts should include:

  • Course names

  • All grades received (including transfer credits and study abroad programs)

  • Cumulative GPA

  • Degree conferral information

Graduates of non-U.S. institutions must possess a college or university degree equivalent to a four-year U.S. bachelor’s degree. If admitted, international students are required to submit an official English translation of all academic credentials, along with a third-party degree verification from an agency such as SpanTran or World Education Services (WES).

✓ Application Tip: Verify that your degree is equivalent to a four-year U.S. bachelor’s degree before starting your application. Agencies such as WES provide a variety of degree equivalency tools and services.

Standardized Tests

Applicants must submit GMAT or GRE scores from within the past five years. We accept both the GMAT Exam and GMAT Focus Edition. Our test codes are:

  • GMAT school code: 44x-J5-96

  • GRE school code: 3033

GMAT/GRE Waivers

Through a pilot initiative, full-time MSF applicants for Fall 2024 may request consideration for a GMAT/GRE waiver. Learn more and submit a full-time MSF GMAT/GRE waiver request before completing your application.

Part-time MSF candidates may also request consideration for a GMAT/GRE waiver. Learn more and submit a part-time MSF GMAT/GRE waiver request before completing your application.

✓ Application Tip: While Graduate Admissions does not have a preference between the GMAT or GRE, we encourage you to consult class profile data for average test scores in order to gauge where you stand. 

English Proficiency

If you are not a U.S. citizen or permanent resident, you are required to submit an English language proficiency exam score with your application. We accept TOEFL, IELTS, or PTE scores. We do not accept the Duolingo English Test. 

Scores must be from within the past two years, and applicants must meet the following minimum scores:

  • TOEFL, iBT, and TOEFL iBT Home Edition: 100

  • IELTS: 7.5

  • PTE: 68

You are eligible to waive the language test requirement if you meet either of the following criteria:

  • You have completed a four-year bachelor’s degree or a two-year master’s degree (or higher) at an institution where the medium language of instruction is English. You must have completed your degree in its entirety at the English-medium institution. The medium language of instruction must be indicated on your transcript or verified in an official letter from the institution.

  • You have worked in a full-time, post-degree position for at least two years in the United States or a country where English is an official language. NOTE: Working for a company that conducts its business in English in a country where English is not an official language will not qualify you for a language test waiver.

✓ Application Tip: If you are eligible to waive the language test requirement, you do not need to submit a waiver request beforehand and can simply move forward with your application.

Letter of Recommendation

Only one letter of recommendation is required to complete your application. We are interested in learning about you from an individual who can provide an objective appraisal of your capacity for intensive graduate study and your potential for professional success.

Recommenders are required to submit the recommendation forms online and will receive instructions through email once you complete the “Recommendation” section of your application.

✓ Application Tip: MSF applicants are advised to submit recommendations from either academic references such as professors, or professional references such as supervisors or managers.

Required & Optional Essays

All applicants must submit a required essay of no more than 500 words telling us about your past experiences, short- and long-term goals, and why you want to pursue an MSF at Boston College. You may also submit an optional essay that addresses aspects of your candidacy that have not already been covered in other parts of the application.

✓ Application Tip: We want to hear about you and appreciate when applicants craft a unique response to the questions. Learn more about our essay questions and how to answer them.

Questions

If you have any further application-related questions, we encourage you to register for an App-y Hour application support session. These small-group sessions are held through Zoom and led by a member of the Graduate Admissions team.

Thinking about your fit for Carroll School of Management graduate programs? Review some tips and tactics to assess your candidacy.

You can also email us at bcmba@bc.edu, or schedule a phone call or Zoom appointment with a member of the Graduate Admission team.