FAQ about the admission process to the MS Finance
Do answers to open questions in the application package play a large role in the selection process? Do you expect a specific type of answers?
One needs to separate out the pre-selection phase from the interview phase. In most cases, answers to open questions play close to no role in the pre-selection phase. However, in maybe a few cases out of the hundreds of file we receive, they provide invaluable insights about an unusual trajectory followed by a candidate. Most importantly, answers given to open questions in the application package are often the source of interesting discussions during the interview phase.
A very important remark about the last item: if it appears at some stage of the selection process that some elements included in an applicant's application package are untrue or plagiarized or even simply exaggerated, our policy is that the candidate will not be admitted in the program, regardless of how attractive his or her file was in the first place. This situation occurred a few times last year and we applied the policy strictly every time. Integrity is important to us. Thus, the most important piece of advice by far that we can give about the open questions is to be completely honest in how you answer them.
Can extra-curricular activities play a role in the pre-selection?
Yes, but only in the very specific case of borderline files. Application files are put into three categories on the basis of academic criteria only (what field of study, in which university, with what grades): pre-selected, not pre-selected and borderline. Some examples of criteria that are used to make a final call on borderline cases include: an excellent GMAT score, an internship in a bank or an otherwise relevant professional experience, the practice of (very) high level sport competition...
An important advice though: be as factual as possible when you bring up extra-curricular items in the application package. Long essays have zero, or even possibly negative, impact on your chances to be pre-selected.
Is an internship in a bank a prerequisite for the MS Finance?
No, absolutely not! It would actually be rather paradoxical to require such a thing when one reason why many candidates apply to our program is to get into finance from another field. In fact, above 40% of student accepted in the program this year had no professional experience of any sort in finance ever before.
The only caveat concerns the specific case of borderline files, for which having such an experience on the CV may be just the little "push" required to make it through the pre-selection phase.
What is the admission rate in the program?
It was equal to 22.54% in 2007 and to 20.2% in 2008.
I've got a first degree in business administration rather than in sciences or in engineering. Can I get into the program?
You may want to check out instead our M.Sc. program in Finance which is geared toward international graduates of a B.BA. The website of the program is: http://www.hec.edu/hec/eng/mif/
What is the interview like?
It partly depends on the background of the candidate. For instance, if your background is slightly less quantitative than the background we are looking for, you can expect some maths questions to come up during the interview. However, all candidates will necessarily go through the following three steps:
(i) We start by asking you to tell us more about your background and your objectives after the MS. This step is important not only as it allows us to evaluate your motivation but also as we sometimes meet candidates whose objectives are unrealistic. In such cases, we always try to explore the issue further with the candidate as, for easily understandable ethical reasons, we don't want any candidate to join the program on the basis of false hopes.
More generally, we want to make sure you are joining the program for the right reasons. Fair knowledge and strong interest in current economic and financial affairs are required to get into the program. This is because working in the finance industry requires an intense personal commitment which can only be achieved by people deeply passionate about their job and their industry.
(ii) The interview will have parts in both French and English. The program is indeed bilingual and we want to make sure that every student has the minimum required level to take courses in both languages.
(iii) You will have the opportunity to ask questions about the program directly to people best able to answer: the interviewers are indeed typically composed of the program director, a professor and/or an alumnus.
How good needs to be my French?
The first two months of the program are fully taught in English. During that time, you have the possibility to take French language classes parallel to the program. Finance courses taught in French start from month 3 onwards. All instructors, even the ones teaching in French, speak English so that you always have the possibility of asking clarifying questions in English. In other words, "quite OK but rusty" definitely passes the threshold while "beginner" does not.
Do you ask questions about financial theory during the interview?
No. This follows the same logic as the answer to the question about internships. We can hardly require candidates to already know what we have to teach them!
One notable exception though: if some elements you included in your application package suggest that you are knowledgeable about this or that area of finance. Be sure then that we will ask you some questions about it...