MS in Applied Finance

The Master of Science in Applied Finance (MSAF) program at the GW School of Business (GWSB) produces leaders in the field of finance. The program focuses on risk management, financial engineering, banking, corporate finance, and portfolio analysis and management. It has been designed to combine quantitative and computer skills with financial theory and applications. The MSAF program qualifies as a STEM program.

Credits

The MSAF program is a full-time, 36 credit-hour program. Students with very strong backgrounds in a particular subject area can petition to waive a required course, replacing it with an elective as approved by the program director.

Duration

The MSAF program is a 12-month program that takes place during the spring, summer and fall semesters. Students will complete the degree requirements in one year.

 


 

Degree Requirements

The MSAF degree requires students to complete 36 credits of required courses. Students with very strong backgrounds in a particular subject area can petition to waive a required course and replace it with an elective, as approved by the program director. All courses are four-credit and a full semester long. The summer semester is mandatory for MSAF candidates.

Students must successfully complete the following program and course requirements to be eligible for the MSAF degree:

Students must achieve at least a 3.0 cumulative grade point average at the time of graduation.

To be eligible for graduation, students must complete all 36 credits of the following required courses:

  • FINA 6271: Financial Modeling and Econometrics
  • FINA 6272: Global Financial Markets
  • FINA 6273: Cases in Financial Management and Investment Banking
  • FINA 6275: Investment Analysis and Global Portfolio Management
  • FINA 6276: Financial Engineering and Derivative Securities
  • FINA 6279: Real Estate Finance and Fixed-Income Security Valuation
  • FINA 6280: Financial Institution Management and Modeling
  • FINA 6281: Cases in Financial Modeling and Engineering
  • FINA 6282: Advanced Financial Econometrics and Modeling

Sample Course Sequencing

Fall (9 credits)

  • FINA 6271 (4 credits)
  • FINA 6273 (4 credits)
  • FINA 6282 (1 credit)

Spring (12 credits)

  • FINA 6275 (4 credits)
  • FINA 6276 (4 credits)
  • FINA 6279 (4 credits)

Summer (15 credits)

  • FINA 6272 (4 credits)
  • FINA 6280 (4 credits)
  • FINA 6281 (4 credits)
  • FINA 6282 (3 credits)

 


 

Admissions

Admission to the MSAF program is highly competitive and enrollment is limited. Students operate in two cohorts throughout the academic year.

Due to the rolling admissions policy, it is highly recommended that candidates submit applications early. The candidate’s major and trend in grades, personal achievements, and letters of recommendation also affect the admission decision. The MSAF program seeks social, ethnic, cultural and geographical diversity in its student body.

A Bachelor’s degree from an accredited university with credit hours in:

  • Advanced Mathematics (6 credits; 3 credits must be in Calculus)
  • Microeconomics (3 credits)
  • Macroeconomics (3 credits)
  • Financial Accounting (3 credits)
  • Managerial Finance (3 credits)
  • Statistics (3 credits)

Additional coursework, degrees, and/or work experience in these five areas are considered favorably in the selection process.

To be considered complete, the following must be included in the application:

  • Completed online application form
  • Application fee (non-refundable)
  • Current résumé uploaded through the online application system
  • Two letters of recommendation from professional and/or academic references
  • Statement of Purpose: In no more than 500 words, describe how the Master of Science in Applied Finance program fits into your professional life and your career objectives.
  • Upload copies of your transcripts from all colleges/universities attended, whether or not the program was completed or the credit appears as a transfer credit on another transcript. Note that admitted students will be required to submit official, sealed transcripts with proof of bachelor’s degree. There is no need to submit them at the time when you first apply.
  • GMAT Score or GRE Score (optional): Test date must be within past five years. GMAT code: QK4-4F-40; GRE code: 5246. Not eligible for a test waiver? GW School of Business applicants can benefit from 10% off any Kaplan GMAT or GRE preparation course. Use discount code GWUSB10.

International applicants must submit one of the following: an official TOEFL score of at least 80 (internet-based test) or 550 (paper-based test), an official IELTS score of 6.0 with no individual band score below 5.5, or a PTE Academic Score of at least 53. Test date must be within the past two years. TOEFL code: 5246

Please note that, if you achieve the following scores, you are also exempt from taking EAP courses: an official TOEFL score of at least 100 (internet-based test) or 600 (paper-based test), an official IELTS score of 7.0 with no individual band score below 6.0, or a PTE Academic Score of at least 68. Test date must be within the past two years.

Exceptions to this requirement:

  • You have earned a bachelor, master, or doctoral degree from an institution in which English is the language of instruction and the official language of the country in which the university is located. In addition to the United States, applicants from the following countries are exempt from this requirement.
  • You have earned a bachelor, master, or doctoral degree from an institution that is accredited by a U.S. regional accrediting agency — see the list of approved schools.

 

Application Deadlines

Applications are reviewed on a rolling basis. Candidates seeking financial assistance and international students requiring visas are encouraged to apply early. Only completed applications, with all required materials, will be considered for admission.

Please note: The Master of Science in Business Analytics (MSBA) program is no longer accepting applications for Spring 2020. Additionally, only the Master of Accountancy (MAccy) program is accepting applications for Summer 2020. No other degree or graduate certificate program has a Summer 2020 enrollment option.

 

Spring

Summer

Fall

Early Action

N/A

11/15/19

11/15/19

Round 1

10/15/19

1/15/20

1/15/20

Round 2

N/A

3/15/20

3/15/20

Round 3

N/A

5/15/20

5/15/20

Tuition and Other Costs

Explore tuition rates and fees, view health insurance and housing costs, and more.

Please visit the Student Accounts Office for a complete list of tuition rates and fees.

  • Student Health Insurance
    GW offers voluntary comprehensive health insurance through Aetna Student Health. All F-1 and J-1 international students are automatically enrolled. See the Student Health Insurance page for rates and other important information.
  • Housing
    View information about on-campus and off-campus housing for full-time GW graduate students.

Financial Resources

From scholarships and fellowships to loans and work-study arrangements, we offer a wealth of resources to help you finance your degree.

The GW School of Business offers merit-based fellowships to incoming students at the time of admission. While applying to graduate degree programs at GWSB, prospective students may opt in to be automatically considered for all fellowship award opportunities funded by the School of Business, as well as various University-funded tuition awards administered by the Office of Graduate Student Assistantships and Fellowships (OGSAF). Unless otherwise stated, no separate application is required.

In limited circumstances, current students may also be eligible for merit-based tuition fellowship awards.

For more information, explore the GWSB Fellowships and Financial Support page.

The Office of Graduate Student Assistantships and Fellowships (OGSAF) maintains a comprehensive database of GW and external fellowships to support graduate-level study and/or research. Incoming and current students are encouraged to browse the OGSAF website for information about additional merit-based funding opportunities.

U.S. Citizens and eligible noncitizens may qualify for:

  • Federally sponsored education loans through the Federal Direct Unsubsidized Loan and Federal Graduate PLUS Loan Programs
  • Need-based financial assistance through the Federal Work Study Program, which allows students to earn income while working part-time at pre-approved organizations during their program

To apply for federal financial aid, submit the Free Application for Federal Student Aid (FAFSA) by the appropriate deadline using GW’s FAFSA school code: 001444. Please note that students must apply for federal financial aid each academic year.

Visit the Office of Student Financial Assistance for details about eligibility criteria, application steps, and deadlines. Information about alternate private and federal loans is also available.

Employer Discounts

The GW School of Business offers a tuition discount to current employees of the following companies:

  • Booz Allen Hamilton
  • Leidos
  • Lockheed Martin
  • Organization of American States (GS/OAS)
  • SAIC

Please note that eligible programs vary by employer. For details about eligibility, conditions, and the application process, visit the Employer Tuition Discounts page.

Grad2Grad Program

GW undergraduate students who continue their studies at GW by enrolling in certain graduate degree or certificate programs may qualify for a 10 percent graduate tuition reduction through the Grad2Grad program. For information about eligibility and the application process, visit the Grad2Grad page.

Nationally recognized as a top military- and veteran-friendly university, GW offers a wealth of services and benefits to student veterans, military personnel, and dependents of the United States Armed Forces. As a proud participant in the Yellow Ribbon Program, GW funds tuition expenses exceeding the maximum base pay amount covered through the GI Bill, and its contributions are matched by the Department of Veteran Affairs.

For more information about the Yellow Ribbon Program and other education benefits, visit GW Veteran & Military Services (VMS).

The F. David Fowler Career Center supports GWSB student and alumni professional development by providing career management resources, career fairs and expos, and employer information sessions. GWSB students also have access to employment services and resources provided through GW’s Center for Career Services.

Handshake is the official online recruiting platform and event calendar for the F. David Fowler Career Center and the Center for Career Services. To search for jobs and internships, find and register for events, and connect with career coaches, log in to Handshake.

Federal Work Study

The Federal Work Study Program is a federally-funded and need-based work program that allows GW students to earn income through part-time employment during the academic year at GW and other pre-approved organizations. Graduate students interested in the program must submit the FAFSA and apply through the Office of Student Financial Assistance.

The Center for Career Services provides awarded students assistance with finding positions. Visit the Center for Career Services for information about the Federal Work Study Program at GW.

International Students

Students studying at GW on F-1 or J-1 visas may have additional restrictions on their employment due to visa regulations. F-1 Students are required to obtain Curricular Practical Training (CPT) authorization from the International Services Office for all paid, off-campus internships and employment. GW-sponsored J-1 Exchange Visitors are required to obtain employment authorization for all employment, whether on-campus or off-campus.

For more information about the CPT application process, see GWSB Global & Experiential Education’s Curricular Practical Training page.

For information about how your visa status may affect your employment options, please visit the International Services Office.

The Student Accounts Office manages all student accounts and processes student bills, refunds, disbursements, payment plan enrollment, employer reimbursements, third party billing, and financial holds. For inquiries regarding your Student eBill, tuition and fees, or payment options and due dates, visit the Student Accounts Office.

 


 

Next Steps

Apply To This Program

Applications are submitted through the GW Student Portal. You can sign up for an account if you don't have one.


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