Application Requirements

Applicants must complete and submit an online application for the MS in Finance program. The system allows applicants to save their work and return to it at any time. Supporting materials and the application fee are submitted through the online application system.

  • An account and password are required to start the online application.
  • Select "Summer 2020" for "Entry Term" and "Finance - MS" for "Selected Program."
    • Given the challenges many students will have arriving in Minnesota for the scheduled July 6 start date, we have decided to move the start of the program for this academic year to Fall 2020. That means courses will begin Tuesday, September 8. For 2020-2021 academic year, please select Fall 2020.
  • Read the instructions below carefully before completing your application.
  • When you have provided everything required to submit your application, the application will allow you to submit. The application is not complete until the recommendations are submitted and we have received your official test scores. Applications must be complete before the deadline for which you would like to be considered.
  • You will be receiving application update emails from gradappinfo@umn.edu, please add this email to your contact list or safe list so that they are not caught in your spam filter.

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Completion of Calculus Course

Completion of at least one-semester college level calculus course with a grade "C" or better is required at the time of application. The calculus course must be at the level of Calculus I or higher. Upload a course description or syllabus in the first upload on the  "Carlson MS Programs requirements" page of the application for the course that satisfies this requirement.

Applicants who have not yet completed a calculus course should not submit an application to the program until they have completed the course and received a final grade.

Completion of Statistics Course

Completion of at least one-semester college level statistics course is required at the time of application. If the course on your academic transcript does not include the word "statistics" in the course name, please upload a course description or syllabus on the  "Carlson MS Programs requirements" page of the application for the course that satisfies this requirement.

Applicants who have not yet completed a statistics course should not submit an application to the program until they have completed the course and received a final grade.

Applicant Statement

For consideration for admission, please submit a personal statement (750 words, approximately 2 pages max) answering the following three questions:

  1. Briefly describe your short-term and long-term career goals. Why are you choosing to pursue an MS in Finance at this time, and what are you hoping to accomplish by doing so?
  2. Why are you interested in pursuing an MS at the Carlson School of Management?
  3. What do you feel makes you a strong candidate for the program? How will you contribute to the Program overall?

To be considered for admission, the MS in Finance program requires a first university degree that is an equivalent to a 4-year U.S. bachelor's degree. Students with a 3-year degree from India do not satisfy this minimum requirement and must complete an additional year of post-baccalaureate study before submitting an application to the program. If a student is unsure whether their degree is an equivalent to a 4-year U.S. bachelor’s degree they should email their transcripts and proof of degree to the Office of Graduate Admissions for review. Their email is gsquest@umn.edu.

Unofficial transcripts can be submitted through the online application. You will need to submit a transcript from each college or university where you have completed coursework before your application will be considered complete and reviewed by the admissions committee. Non-English transcripts must be accompanied by an English translation. If you have previously enrolled at any University of Minnesota campus, you can obtain electronic copies of your transcripts from OneStop student services. International applicants or students with transcripts from a foreign institution should review these details about transcripts. 

If admitted, you must submit official transcripts or academic records prior to your enrollment at the University of Minnesota. Official transcripts must be sent directly to the Office of Graduate Admissions Office from the institution. An official, certified (signature and seal) English translation must accompany non-English transcripts. The University of Minnesota reserves the right to require the submission of official transcripts or credentials any time during the admission review process.

English language translation services in the Twin Cities.

The GMAT or GRE General Test is required for admission to the MS in Finance program and should be less than five years old at the time of application. The unofficial test scores should be entered directly into the online application. Official test scores should be received before the deadline for which you would like to be considered.

Take a sample GMAT test

For GMAT, arrange for the testing service to send an official score report to code D2N-VJ-05, Carlson Master of Science in Finance. Results arrive 2-3 weeks after the test. For GRE, arrange for the testing service to send an official score report using institution code 6874, U of MN graduate school. Results take up to 8 weeks to arrive.

Waiver Request: In certain circumstances, a GMAT-GRE Waiver may be applied for to fulfill this requirement. Specifically, a waiver may be considered for applicants with a cumulative undergraduate GPA of 3.2 or higher on a 4.0 scale (or equivalent) with proof of completion of university-level courses in statistics and calculus. This waiver request should be submitted per the policy instructions BEFORE application submission. Waivers are never guaranteed and are evaluated on a case by case basis. Additional details and submission information are available on the waiver request form.

 

Upload a current resume that includes a detailed employment history, job responsibilities and accomplishments where prompted for Resume or CV. Please be sure to provide a few bullet points for each position held, as well as dates (month and year) regarding employment and education on the employment information page.

We require two letters of recommendation for application to the Master of Science in Finance program. These recommendations can be from any combination of professional and academic recommenders, though we suggest that at least one recommendation come from a supervisor if you have professional experience. We partner with GMAC for the common letter of recommendation.

Your application will not be considered complete until all two letters of recommendation are received. This means all letters must be received before the deadline for which you would like to be considered.

If English is not your first language, you must take the TOEFL or IELTS exam. We accept scores from both of these exams; it is not necessary to take more than one. Scores must be less than 2 years old when you apply. Applicants from certain English-speaking countries and regions may not need to take a proficiency exam. To determine if your country is included, please see the TOEFL Exemption list (under Coursework) hereNote: Candidates who completed their undergraduate education in India are required to submit TOEFL or IELTS exam.

Applicants who have completed 24 quarter credits or 16 semester credits (within the past 24 months) in residence as a full-time student at a recognized institution of higher learning in the United States (or other English-speaking country) before entering the University of Minnesota are automatically exempt from the TOEFL/IELTS requirement. If this is the case, simply leave the TOEFL and IELTS sections of the online application blank.

TOEFL

Typically competitive score is 105 or higher on the internet-based TOEFL. We require a minimum 21 in writing section and a minimum 19 in reading section of the TOEFL score. We must receive an official score report directly from the testing service. Scores should be sent to institution code 6874. If prompted, you can select any department code, department group, school type, division, etc. Regardless of this selection, all scores sent to the institution code 6874 will be received by the Office of Graduate Admissions. 

IELTS

To be considered for admission, we require a minimum overall band score of 7.0, with no section lower than 6.5

IELTS test scores are verified using the Test Report Form (TRF) number. You may upload a scanned copy of your IELTS Test Report Form in your application or email the score report to mbamsapp@umn.edu.

Please do not request to have the report sent directly to the University of Minnesota MS Programs office, as we cannot receive mail at this time. Score reports will be accepted via email from applicants or the testing agency. 

 

Note: We do not offer an option for the English language ability to be assessed upon arrival on campus.

The application fee is $75 (non-refundable) for U.S. citizens; and $95 for international applications and U.S. residents with foreign credentials. The application fee will be waived if the applicant has been on active duty in the U.S. military within three years of submitting an application.

  • The video essay is a required component of the application that provides candidates with an opportunity to show the admissions committee the authentic you.  Think of this video essay as if you were answering an interview question with a member of our admissions committee. 
  • You will need to use a computer with camera and microphone capabilities. You will have the ability to test your technology before starting the video essay and submit a practice video essay. 
  • You can test your technology and run the practice simulation as many times as you wish to be comfortable with the format and technology.  You will be able to review your practice video essay(s) and your recording(s) will not be saved beyond the testing phase and will never be reviewed.
  • You can also practice responding to impromptu questions offline with a friend or colleague before completing the video essay portion of your application.
  • You will be prompted to click "Ready" once you are prepared to submit an official video essay.  You will be asked one impromptu question from a bank of imaginative or behavioral questions selected by our admissions team. 
  • Two minutes (120 seconds) will be provided to prepare an answer and two minutes (120 seconds) to record an answer.   Recording will automatically stop after two minutes.  You are not required to use the full two minutes.  If you have time remaining once complete with your response, click the "Stop Recording" button to end the recording. 
  • You will only be provided one attempt to record your official video essay.

Admission interviews are by invitation only. Not all applicants will be interviewed. Interviews may be conducted on campus or via Skype. The interview is approximately 30 minutes in length and aimed at better understanding a candidate’s academic and professional background. You should treat the interview as you would a job interview. Appropriate attire is business professional.

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