1. Discover this place Shape your world TM Discover this place Shape your world TM Open doors to a career in finance Open doors to a career in finance Master of Science in Finance

2. MS Finance Agenda Employment opportunities for finance graduates Graduate degrees in finance The Vanderbilt MSF Next steps

3. MS Finance The Vanderbilt MS Finance Employment Opportunities for Finance Graduates

4. MS Finance Employment The employment market for graduates is improving. Hiring of 2013 graduates is expected to increase 13% over 2012*. Most sought after majors are: 1.Finance 2.Computer and Information Science 3.Accounting 4.Business Administration/Management 5.Mechanical Engineering * NACE Job Outlook Survey 2013

5. MS Finance Jobs in Finance Many different roles in finance: –Investment banking –Investment management –Investment research –Sales and trading –Real estate finance –Private wealth management –Advisory services –Corporate finance –Etc… Can be hard to decide which is best for you. Important to take the time to explore all of your options and work towards making a decision.

6. MS Finance Investment Banking Investment banking covers a range of different roles, including: –Investment banking or corporate finance –Sales and trading –Research The investment banking division includes: –Capital markets (raising funds via issuing equity or debt) –Mergers and acquisitions (advisory role for bidders or targets) Generally organized along industry coverage (e.g. healthcare) and product coverage (e.g. M&A or leveraged finance) Investment banking requires long hours and lots of flexibility. Often have very structured analyst programs. Viewed as an excellent launching pad for other finance roles.

7. MS Finance Investment Management Investment managers seek to grow capital and generate income for their clients. –Involves researching and analyzing potential investment opportunities and allocating clients’ funds according to their investment objectives. Client may be retail (individuals) or institutional (companies and municipalities). Includes hedge funds, mutual funds, pension funds, university endowments, etc. Investment managers are on the “buy-side”. Also known as asset management.

8. MS Finance Private Wealth Management Provide banking, asset management, insurance and fiduciary and tax services to high net worth individuals. Coordinate a network of bankers, investment managers and other specialists. –Interact with multiple divisions. Communication and “people” skills are very important. UK / Vandy MSF graduates –Sam Gillespie ’13 (JP Morgan, New York) –Tony Cox ’09 (Goldman Sachs, Atlanta)

9. MS Finance Investment Research Conduct “fundamental” research: –Analysis of factors and trends driving an industry’s growth prospects –Analysis of companies within an industry –Company-specific financial analyses and forecasts –Valuation of companies’ securities Activities include gathering information, writing reports, and selling research to clients. Can be “buy-side” or “sell-side”. You need to write well and be okay with an early start!

10. MS Finance Corporate Finance Many different roles when working inside a corporation: –Divisional Financial Analysis –Corporate development and strategic planning –Treasury –Cash management Dealing with financial decisions of the company. Combination of finance and accounting skills is important. Often corporate roles have a better work/life balance than other roles in finance.

11. MS Finance Real Estate Finance Involves buying, selling, leasing, management, and development of property. Network is extremely important and the working environment can be less corporate than other finance roles. UK / Vandy grads: –Jonah Hescock ’10 (Healthcare Realty Trust, Nashville) –Ken Vereen ’11 (Deutsche Bank, Jacksonville) –Dallas Rose ’12 (Goldman Sachs, Dallas)

12. MS Finance Finance Recruiting Most but not all entry level jobs are called “analyst” positions. –“Associate” in investment research. Many firms have 2 year analyst programs. The recruitment cycles for different finance jobs are not the same. –Investment banking: Sept-Oct –Corporate finance: Oct-Dec –Investment research and real estate: just-in-time Networking is the number one way that people land jobs in finance.

13. MS Finance Where to find out more information Websites: –www.vault.comwww.vault.com –www.wetfeet.comwww.wetfeet.com –www.careers-in-finance.comwww.careers-in-finance.com –www.mergersandinquisitions.comwww.mergersandinquisitions.com –www.streetofwalls.comwww.streetofwalls.com –www.wallstreetoasis.comwww.wallstreetoasis.com Visit your undergraduate career services center Start talking to people –UK alumni –Local firms Get an internship

14. MS Finance The Vanderbilt MS Finance Graduate Business Degrees

15. MS Finance Graduate Business Degrees MBA –Established and well known. –Generalist business degree, will include classes on strategy, marketing and accounting as well as finance. –Can specialize in one or two areas. –Generally requires work experience. –Usually a 2 year degree with summer internship. –Usually a terminal degree. –MBAs go into jobs that require work experience. Often called an “associate” in finance.

16. MS Finance Graduate Business Degrees MSF –Designed for recent graduates with little to no work experience. –Focused on financial economics and analytical skills. –Usually 1-1.5 years. Financial Engineering programs –More quantitative than MSF. –Often run by a math department. –May require work experience. –Graduates target heavily quantitative finance roles (“quants”). PhD –5 year research degree.

17. MS Finance MS Finance degrees MSF degrees are increasingly common but are still relatively new. Attractive to: –Students with a non-finance major who want to transition into finance –Students who want additional finance training in a graduate b- school setting –Students from “non-core” recruiting schools who want access to a broader recruiting market –Students seeking a “brand” on their resume and to broaden their network Lots of different programs available

18. MS Finance Things to keep in mind When choosing a business school some things to think about are: –Size –Location –Career management resources –Alumni base –Curriculum—electives vs “lock step” –Faculty –Brand –Cost

19. MS Finance How to find the best school for you Do your research –School website –US News & World reports –FT rankings (mostly European schools) Talk to people and ask lots of questions –Alumni –Admissions personnel –People like me Go for a visit Decide what is important to you and whether the school can help you achieve your goals

20. MS Finance The Vanderbilt MS Finance Vanderbilt MSF

21. MS Finance Goals of the MSF Develop a strong finance backbone in one year Gain practical finance and business skills, such as: –Portfolio theory –Derivative pricing –Asset pricing –Firm valuation –Risk management Work side-by-side with experienced MBA students from a variety of backgrounds and learn from their experiences Expand your career opportunities in a competitive field

22. MS Finance The MSF Curriculum 32 hours of coursework A strong core of required courses with a variety of advanced MBA electives 7-week modular system You can take more courses and have more flexibility to customize your degree I will work closely with you to design your curriculum to suit your career goals

23. MS Finance August Orientation MSF students arrive on campus in late July / early August and attend intensive classes for two weeks.

24. MS Finance Fall Semester Modules I and II are mostly MSF “core” classes: Students with prior accounting classes may be exempt from Introduction to Accounting.

25. MS Finance Spring Semester Modules III and IV are all electives:

26. MS Finance Customize Your Degree Active Portfolio Management Advanced Financial Reporting Advanced Spreadsheets Bond Markets Business in the World Economy Corporate Financial Policy Corporate Restructuring Derivative Securities Valuation Equities Markets Ethics in Business Federal Income Taxation of M&A Financial Data Analysis Financial Institutions Financial Reporting Financial Statement Analysis Game Theory & Business Strategy Intl. Financial Markets & Instruments Launching the Venture Mergers and Acquisitions Negotiation Real Estate Financial Analysis Real Estate Investment & Development Analysis Risk Management Taxation of Corporations & Joint Ventures Choose from a variety of electives, including:

27. MS Finance Discover Your Career Path Quantitative Finance Track –Sales & Trading, Investment Research, Proprietary Trading, Private Equity, Investment Banking and Risk Management –Asset/Investment Management/Brokerage, Treasury and Securities, Insurance, Mortgage Banking Corporate Finance Track –Corporate/Industry Finance: Divisional Financial Analysis, Corporate Development & Strategic Planning, Treasury, Cash Management –Commercial Banking, Credit Card Services and Operations Other –Real Estate –Consulting –Financial Economics/Finance PhD preparation A selection of likely career paths includes:

28. MS Finance Spring Semester Quantitative finance track:

29. MS Finance Spring Semester Corporate finance track:

30. MS Finance Career Management What is the Career Management Program? –Personalized support to help you meet your career goals –A multi-step series of interactive workshops and coaching sessions that prepare you for all steps of the job search Goals of the program are: –To help you be successful in pursuing your career goals –To build skills necessary to plan and conduct a successful career search

31. MS Finance Career Management What is the Career Management Program? –Professional Development and Communications class –Resume and cover letter review –Mock interviews –One-on-one coaching and career advice –MBA Peer coaches –Networking treks: Wall Street, Houston, Asia Professional clubs at Owen are another important career resource –Finance club –Consulting club –Max Adler Student Investment Fund

32. MS Finance The Vanderbilt MS Finance What to do next

33. MS Finance Next steps Learn more about finance careers –Internet –Career center –Tap into your network –Internships Visit Vanderbilt to learn more about MSF –Next campus visit day is Monday March 18. –Attend class, meet current students, experience b-school. –Welcome to attend on any other day. –Contact: msfinance@owen.vanderbilt.edumsfinance@owen.vanderbilt.edu