MMS in Asset Management: Application Tips

Articles


– Hello and welcome to our online event, where we’re broadcasting
live from a classroom here in Evans Hall. My name is Emily Whitehouse
and I serve as associate director of admissions, here at the Yale School of Management. I’m joined by my colleague, Jolene Monson, deputy director of
operations and enrollment. Jolene and I serve as members
of the admissions committee for the Masters program
in asset management. Our aim today is to provide
you with a brief overview of the school and offer
some tips and advice for completing your asset
management application. We’ll then open for your questions. Please, we ask that you connect
with my colleague, Maria, who is behind the scenes. Please be sure to the Q&A
feature on the platform. We will ask that you
keep your questions broad and applicable to the general audience. If you have any questions
that are specific to your candidacy in particular, we
please ask that you reach out to us via email. We will share that email
address at the conclusion of today’s webinar. First, I’d like to take
a moment to go over some additional programs that we have here at Yale School of Management. So we have a full suite of
programs, really for anywhere you are in your particular journey. The first three on the
left there, in yellow, are ones that you may not
particularly be interested in at this point in your journey, however, know that these
individuals in these programs will also be individuals
that you will be able to connect with in the broader
network here at Yale. First of all is the MBA
for Executives program. Now, this welcomes professionals
from the industries of health care, asset
management, and sustainability. We also have doctoral programs
available in accounting, financial economics, marketing, operations and organizations and management. Our MAM program, which is a
masters in Advanced Management is for candidates who have
already earned their MBA at a partner school, but
have decided that they want to come to Yale for an additional year of advanced management study. The programs you see in
blue are more pertaining to the audience for
this particular program, for the MMS program in asset management. First, you’ll see our
full time MBA program, which our flagship program. This program is ideal
for those with an average of about five years work experience. Those that are interested in
this program tend to leverage the program, either as
a career deepener or as an opportunity to pivot their
career in one way or another. Another pathway to enter
the full time MBA program is through the Silver Scholars program. Approximately 5% of our
MBA students are actually Silver Scholars. These individuals join us direct
from undergraduate studies and they have zero
years of work experience before joining us. What we’ll spend most of
our time talking about today will be the masters program
in asset management. This is our newest degree
offering in our suite of specialized one year masters programs. In addition to this program,
we also offer an MMS in Global Business and
Society and this is available to those that are spending
one year at one of our partner schools and then
will come to Yale SOM to pursue their second year of study and typically these
individuals are working in a global organization type setting. Now I’d like to talk a
little bit about what all these degrees have in common,
and that’s the connection to our mission and the power of Yale. Our mission of course,
is to educate leaders for business and society. Now, this mission serves to
inform everything that we do. This means that it’s our
aim to develop leaders that have the ability to think
broadly about the challenges that we face in an
increasingly complex world. We want these individuals
to have the ability to be decision makers in environments
where you have to consider multiple stake holders,
influencers and consequences. Our students care deeply
about both being successful in their careers and having
a positive impact on society. In thinking how we put
the mission into practice for the generation of leaders,
we’re focused on three strategic objectives. First, to be the business
school that is most integrated with its home university. To be the most distinctively
global U.S. business school and to be recognized as
the best source of elevated leaders across all sectors and regions. The third strategic objective
is a bit harder to quantify maybe, but it is without a
doubt, one of the most important pieces of the objectives that
we have under our mission and it really is core
to everything that do. Another common denominator
among the programs that are offered at the
Yale School of Management is access to our incredible
faculty, accomplished students and alumni from around the world and a robust career development office. Now when you join the Yale
School of Management’s community, you’re also joining the
Yale University community. This is a connection that we feel our students should leverage
and unlike other business schools, our programs
allow for and encourage opportunities for
engagement across campus. Giving you access to the
sharpest minds in academia as well as the resources of
a world renown institution. All of our degree programs do
allow you to take electives both inside and outside of
Yale School of Management and also to participate a
plethora of other activities, such as conferences, hackathons,
the opportunity to listen to some really amazing
guest speakers and more. Now let’s take a closer look
at the school’s newest offering which likely drew you
to this webinar today, the MMS in asset management. Given Yale SOM’s strength
in the field of finance, as well as a demand for
specialized business masters degrees, we’re
now accepting applications from young professionals
who want to launch their careers in the industry by
spending a year at Yale, learning from leading scholars
and practicing investors at some of the world’s
most successful firms. Yale is certainly uniquely
positioned to educate students and foster cutting edge research in the field of asset management. Our finance faculty not
only have years of applied experience in the industry,
but also the program has been developed in close collaboration with the Yale investments office. On the next couple of slides,
I’m going to take some time to offer profiles of the
two men that have led in the development and execution of the asset management program. First of all, we will start
with Tobias Moskowitz, otherwise known as Toby. Professor of Finance, Toby
Moskowitz is the director of the asset management program. He joined Yale SOM in 2016,
after serving as a faculty member at Chicago Booth since 1998. He is a leading and decorated
financial economist, honored with the Fischer
Black Prize in 2007. He appears on major news
outlets, including CNN and Bloomberg and he coauthored
the best selling book, “Scorecasting” using statistics to analyze conventional sports wisdom. He also serves as consultant and principle to AQR Capital Management, a hedge fund in Greenwich, Connecticut. So of course, given the
university’s impressive endowment management model and cutting
edge finance faculty, the school of management
decided the time was right to announce this newest program
in its suite of offerings. So this degree was born. Toby and David identified
an academic void, as well as Yale’s unique
position in the world of finance. They came together in the
development of this new program. I’ll share a little bit
now about David Swensen. For those that don’t know him,
he is the Chief Investment Officer at Yale University. Arguably, the most well
known endowment fund manager in the world. In addition to inventing the
Yale model with Dean Takahashi, which has outpaced all
other major endowments in the last 30 years, he’s
also advised presidents of the United States and
has served as trustee and advisor to organizations, including the Brookings Institution, the Carnegie Corporation,
New York Stock Exchange, Cambridge University and more. David and Toby pooled their
vast knowledge to create a truly unique program. As you can see, the
curriculum covers a breadth of investment fields, issues and items, including quantitative models, traditional fundamental analysis, alternative investing, as
well as implementation, risk, legal and client issues. Students gain exposure
to word renown speakers from the university,
sourced through the program directors and the Yale Investment Office. A highlight of this program
will be the colloquium and asset management, which
will bring leading executives, investors and practitioners
to campus for discussions with students. Courses will certainly be rigorous and similar to the PhD level,
but with a strong orientation toward the practical
application and implementation. The curriculum is a combination
of required and elective courses designed specifically
for this program. Cross registration opportunities
throughout Yale University will also be possible. The class schedule will
be Monday through Friday, taking place on Yale’s campus
with additional sections offered in the evenings and on Friday to, in some cases, accommodate
working professionals. Speaking of working professionals,
there is a component in which students are required
to gain practical experience as part of the curriculum. There are a few different ways
that one can go about this based on a number of different factors. So, first and foremost would
be working during the program. This will be available to
our domestic applicants. Those that are currently
working will continue to work concurrently while
participating in this program. This would require an individual
to have a conversation with their employer about having some time and ability to be remote
in order to take classes and still be a full time
student while maintaining their employment. In addition, there will
be an option to intern from mid December through early January. Also, this one year program does not provide CPT, like a
two year MBA program would. So this means international
students cannot work off campus during the program. However, they can pursue
an internship in their home country or in other countries, depending on visa restrictions
during this time frame. International students
can also choose to conduct a research project or
independent study on campus or they can work 20
hours per week on campus. They can also pursue opportunities
to work with faculty, lead conferences and join research teams. Given many of these experiences are fluid and often initiated by students
pursuing specific interests, these and other experiences
are what fall under the alternative experiences
that are pre-approved by the faculty director
that we’ve discussed and also that you’ve read
about maybe in some of our marketing materials. Now that we’ve spent some
time going over the program, I’d like to talk a little
bit about the target audience for this program. First, we’re looking for
candidates that have demonstrated interest in the field,
but we are certainly open to all majors. This means that we are
looking candidates with strong quantitative skills, but
again, this isn’t limited to certain majors or even courses. For example, you may have
studied engineering or chemistry or maybe you’ve earned
a liberal arts degree and have a couple of statistics
classes or applied math. We’re also going to look at
your standardized test scores to demonstrate quantitative preparedness. Our target audience for this
program is early career, having zero to three
years of work experience. Relevant work experience
and internships are helpful but are not required. On this slide, you’ll see the
components of our application. Some of which you are familiar
with and some of which you’ll be submitting for
multiple school as well. Jolene and I will spend
some time going through each component in more
detail before taking some of your questions. With that, I’ll turn it
over to Jolene Monson. – Perfect, thank you. Great, so as my colleague Emily mentioned, we have an online application. Through the online application
we take you through all of the components that
you can see here on the slide. The deadline for application
for this program is January 27. We’ll start reviewing applications
only after this deadline. Everybody who applies will get
their decision on April 21. Let’s go through each of
these points one by one a little bit, just to
kind of understand them. First, I want to talk
about the academic profile that we’re looking for this program. Since we are looking primarily
at younger professionals for this program as well
as this is a program that’s going to be highly
quantitative, taking you through some pretty advanced financial techniques, your academic preparedness
for this program is pretty important. We spend a little bit of
time in the application really asking you to share with us all of the academic experiences
that you’ve had in the past as well as we ask you
for a little bit of time to explain some specific
course work that you’ve had as well in your undergraduate
or any graduate studies experiences that you’ve had. The first thing that we
ask is for you to report any test scores, GMAT or GRE and to upload a copy of your
most up to date transcripts from any schools that you
took for undergraduate or graduate level credit. Your transcripts and your
test scores are used to gauge your academic success. We at SOM have done a
fair amount of studies that link previous academic
success as a key indicator of future academic success. We will be looking kind of pretty in depth at your transcripts
and will be considering your test scores as well. But when it comes to your
transcripts and when it comes to your previous studies, we
don’t only look at your GPA. We will be looking at your
transcripts sort of line by line to see what courses you really thrived in and what sort of courses
you were challenged by. For this program specifically,
we are looking for kind of key experiences in
statistics or advanced math or even advanced microeconomic theory, those sorts of knowledge bases we feel, are probably very good
preparation for this program. We’ll want to understand what
your previous experiences in those sorts of topics are. You’ll see some questions
in our application form to share those experiences
and we’ll look through your academic transcripts to kind of see what kind of courses
you have in those areas. We also ask for a test score,
either the GMAT or the GRE. We honestly have no
preference between the two. Throughout all of our
other degree programs, we accept either test and
we have a significant amount of experience with
understanding the skills that both tests test for and what sort of scores
are indicative of having success in the future in
a Yale graduate program here at the School of Management. Either one is really okay. I do want to stress though,
that your test score is not the only indicator of success. It’s just one part of your application. We will consider your whole
application in its entirety when we make an admissions decision. Finally, for this program
we also ask some students to submit a TOEFL or IELTS score. These are scores to measure
your English language abilities. This is required for all
students who are international, who will have not completed, or have completed already a degree program in an English speaking country. So that means that if you
have a first masters degree or a bachelors degree from a university based in a country that speaks English, such as the United
States, Canada, or the UK, then you don’t have to submit
a TOEFL or IELTS score. However, if you are completing
your undergraduate studies in a non-English speaking country, we will ask you to submit your test score. Just like the GMAT or GRE
though, your IELTS and your TOEFL score are not the only indicator of your English language ability. We don’t have any minimum
test score for the TOEFL or the IELTS, in the same
way that we don’t have a minimum test score for the GMAT or GRE. We’re looking to understand
your test score in combination with all of the other data that we have in your application file. And back to Emily. – Thanks so much Jolene. Next, we’ll discussion
a little bit more about professional experience. For those of you that are
current undergraduate students, ’cause of course, this is
for those with zero to three years of work experience, don’t fret. There are some different
ways that you can express this area of proficiency
within your own candidacy. So we’ll talk about that
a little bit right now. The first component I’d
like to talk with you about is something that should
be pretty familiar to you as you’re applying to this program or others that are similar. The resume is of course,
a very important part of your application. It should really showcase
in a clear and concise way about your academic experience, your professional experiences,
any volunteer work that you may have done or
other activities or interests that help to tell your
story as an applicant for this program. In the Yale SOM application,
you’ll see that we actually provide a resume template. That’s something that you
are certainly able to use if you would like to. You’ll see that we
recommend a one page resume. This is something that
we’re hoping will enable you to provide a very clear
and well communicated work progression, from
making sure that you have start to end dates, as well
as some spaces for some higher level academic experiences
or additional information that you may choose to include. If you have a gap in your work experience or academic history, then
we would certainly encourage you to use the optional
statement within the application to provide a brief explanation. All you would need to do is
just a little bullet point here, you wouldn’t need
to make this a full essay, but just something to
indicate that gap or kind of the reasoning behind that. Aside from the resume, we
are requiring two letters of recommendation for this program. One academic and one professional. The best person to choose
to write your letter or recommendation, either
academic or professional on your behalf, would be an
individual who has supervised you or has formally
reviewed your performance in the classroom. In the case of the academic,
this would be an individual that may have taught a
class that you’ve taken or several classes that
you’ve taken and they may have reviewed your performance
within the classroom setting. Now, similarly for the
work recommendation, for the professional letter,
we’re looking for someone who may have spent some
time with you on the job supervising you. This could also be
someone you’ve worked with or under in the capacity of some kind of academic experience that was
like a volunteer experience or something to that
effect, if you haven’t had full time work experience. We do ask that you choose
someone that could really speak to your strengths. We’re not recommending choosing
someone with a prestigious title that might not know much
about you or your candidacy. If your recommender’s primary
language isn’t English, just know that we’re reviewing
really for content here, not for writing ability. At this time we do offer
translation services for recommendations provided
to us in both Mandarin and in Spanish. One quick note about
letters of recommendation, this is a space in which
you can somewhat provide some influence to those that
are writing your letters of recommendation. I would recommend if you’re
able, have a conversation with the person writing
the letter on your behalf. You can have them, have a phone conversation
or a perhaps a conversation in person over a cup of coffee. Tell them why you’re
interested in pursing a degree such as this and why now, maybe. Fill them in and remind
them of different things that you may have done while under their supervision. They might not always remember
every detail of the work you may have accomplished
under their stead, but this could certainly
help them to write a much more detailed and
robust letter of recommendation on your behalf. Next, there are two different
essays that we are requesting. The first essay is why are
you interested in the Yale SOM masters degree in asset management? We’re hoping that you’ll
use this prompt to discuss your short term interest
in pursuing this degree. For the second essay, we are
asking you what do you hope to accomplish in the
asset management field. This is an areas to explore
and discussion more about your long term interest for
the field, goal or aspirations that you may have. The word limit for the essay prompts is 300 words per question. I would like to also
offer a brief note about the optional information
section on the application. Most candidates actually don’t
need to complete this section however, as I mentioned before,
if you do need to address any unanswered questions,
maybe a perceived gap in your resume or a reason
for choosing an unconventional recommender, this is an appropriate place to make that known. It’s not actually another
essay, but is merely a space for providing clarification
or context when needed. – Okay, so after you have
completed the application form, there’ll be a space for
you to upload your resume, your letters of recommendation,
send some requests to your recommenders. You can go ahead and click
submit once you’re happy with how your application looks so far. After you click submit
and kind of sign your name on the dotted line to move forward there, you’ll be sent to a page where you can pay your $95.00 application fee. After you pay the application
fee, you’ll be prompted to complete a video question. Now I know, just like
this little doggy up here, you might be a little bit
intimidated by the video question and what we’re asking, but this is really a great opportunity for
you to add a little bit of yourself onto the application. We ask in the application
a lot about your goals, a lot about your experiences,
both professionally and academically, but the video
question is really a place for us to get a little
bit more information about how you present, how you
communicate verbally. It’s another kind of added
way for us to see what your English language skills
are like if you’re not a native speaker and to
compliment everything else that you’ve put into your application. So after that application fee
is paid, a link will pop up on your application page and you’ll be sent to a
service provider that we use for this feature. The service provider will
have some practice questions for you, so I would encourage
you to use that practice time to get familiar with the
software and the system. Then we have one randomized
question that we will ask you when you get to that part. You’ll have about 30 seconds
to gather your thoughts and think of a response to this question and then you’ll have 60
seconds to record the response. If you don’t need the full
60 seconds, that’s fine. There’s a little stop
button in the system. Some tips here for making the most out of your video questions, I
would really recommend that you become familiar with
the response time frame. By that, I mean get familiar
with kind of speaking into a blank box. You’ll have to use your laptop
or your desktop for this, so you’ll literally be sitting
at a desk, kind of staring off into space answering these questions. So I would kind of get
used to that format. A good way to do this that a
lot of our students have found is to kind of do some mock interviews with a friend or a
family member over Skype and have your friend or family
member turn the video off on their side so that you
don’t see any of their faces or it’s not like having a
conversation, but you’re answering the question kind of
directly into the computer. I would practice. Again, try to use Skype
or another simulation tool before recording. A sleek tip is that the software
that we use allows you to record and to practice
the practice question that they have as many times as you need to. So if you do need to use
those practice questions more than once, definitely do so. Finally, when you’re thinking
about the kinds of questions to anticipate, I’m sure that’s
kind of top on your mind as well, the questions that we’ve used are very similar to what you
would see at any job interview. So think about why do you
want to study graduate school, what are you hopes and
dreams for the future, what do you like about
finance or asset management. All of those sorts of questions
that you could think of that would come up in an
interview are likely questions that we’ve recorded in
part of the randomized way that we show the question that you get. Those are all very likely. So practice any sort of
question that you can think of that would come up in a
general interview sense and you’ll probably be very
prepared for the video question as it comes up. Finally, like I already mentioned, the software that we use
for the video questions does require a landline or
high speed internet connection. You can’t use 4G or other
cell phone connections there, so you’ll have to find a really good solid internet connection. It requires a laptop or a
desktop, so unfortunately, you can’t use an iPad or an
iPhone or another smart device. I would try to find a
nice quite place as well, just to make sure that you
don’t have any distractions and that there aren’t
any people walking around in the background. Maybe make sure your pets
are in the other room, all of those sorts of things
would be good to think about. After you record the video questions, your application is complete. Those are all of the components
that we have there for you. Your application will go
into review afterwards. – Thanks Jolene. So yes, once you’ve
submitted the application and completed the video
question, as I say, the waiting can sometimes
be the hardest part. Some will be extended though, an opportunity or an
invitation to interview, but this is by invitation only. First of all, I want to
share that the committee may decide to issue an
interview invitation but it is not actually
required to gain admission to this program. There are a variety of
reasons as to why one might be asked to come in for an
interview and these include but are not limited to, just
providing further confirmation of your English language proficiency beyond your English language exam score. So we are looking the TOEFL and the IELTS and even the video question component. We might just want to meet with
you just to further confirm your proficiency in that area. Also, we might just be seeking
some clarification around some questions that we may
have about courses you’ve taken or internships or work
experiences that seem particularly interesting,
that you may have outlined within your application. So should the committee
issue an interview request, it will be by invitation only. The majority will take place virtually, though we may choose to release
a limited number of slots in global locations and
possibly some on campus. So stay tuned for those details. The email invitations we’ll
start sending shortly after the application deadline and
those will come on a rolling basis until decisions are
released on the April 21st decision release deadline. Might be helpful just to
remember some of the basics here. Be on time, dress professionally
and come prepared. That goes for whether you
are doing this virtually or in person. We recommend just making
sure that you’re feeling comfortable and confident and prepared, just as you would in any sort
of job or academic interview type setting that you
may have been in before. Of course, it’s crucial to
have intelligent questions for your interviewer, so
it’s not just us asking the questions here. You will likely be interviewed
by an admissions officer and so I would recommend
making sure that you have some questions, not things
that can be answered on the website or through
reviewing other materials that we may have made available to you, but perhaps you have some
questions for us about the community, the place, what it’s like to be here at Yale SOM and we’re happy to make it
more of a two way street and have a really nice,
natural conversation in kind of that interview format. Of course, always great to
receive a follow up message from someone following an interview. That could be a thank you
note, that’s always appreciated of course, as we are spending
time reviewing applications. It is really nice, once
we’ve interviewed someone, to receive a nice note
thanking us for our time. Also, if you have any
follow up questions for us, you can certainly raise
any of those questions anywhere between when you’ve
submitted your application, maybe you’ve come in for that interview and before that admissions
decision release on April 21. Just because we might not
have much to say and may be radio silent at times it
seems, feel free to continue to communicate with us any
questions you may have. We’re always happy to answer them for you. With that, we’re going
to turn over to Q&A. Maria has been very busy taking a look at the different questions
that you’ve submitted. We do have hundreds of
viewers tuning in right now, so we’ll certainly try to
answer the most common questions that come up. We do, once again, ask
you to keep your questions general here and maybe not
specific to your situation. Please feel free to email
[email protected] if you do have something
specific to your individual candidacy that we can answer for you. Once again, we ask that
you use the Q&A feature to post your questions as opposed to using the chat feature there. All right, so, let’s take a look. We already have some really
great questions coming through. The first question is one
that I get a lot on the road so I’m happy to take the first. How many students will be admitted? That is a really great question. It is one that I get
very, very frequently. The answer there is
that we are looking at, being that this is our inaugural class, there will be some considerations there. We are going to be looking at
the quality of the applicant pool and the quantity of
applications we receive. Toby and David agree that more important than quantity here is quality. We want this first class to
be really, an impressive bunch and we are very excited to
review these applications and see which ones do rise to the top. Now, we will not be having
a class the size of say, our full time MBA program,
especially not in our first year and I think it’s safe
to say, we will maintain a relatively small class size. We are expecting to have a
class of somewhere between 20 and 30 students. This is because Toby wants to
make sure that this program is really one in which
people feel like they have a close and personal
access to Toby himself and also to all of the
amazing finance faculty we have here on staff and
the incredible resources here at Yale School of Management. Next question I’m receiving
here is the program officially STEM designated? For that question I will say stay tuned. It is something that of
course, we have in the works. We have applied for STEM
certification and we are waiting to hear back regarding whether or not we will receive that designation. All of our paperwork and all
of our ducks are in a row. It’s really just a waiting game right now and we will be in touch as soon
as we have more information and we certainly appreciate your patience. All right, Jolene, I’m going
to throw this one to you if that’s okay. This individual is
asking, they know that one of the recommendations should
come from a professional supervisor, but is it okay to
have two academic references? – Yeah and absolutely it is, especially for this program. It’s not expected that
you’ll have an internship or any professional
experience necessarily, that we could be able
to see your abilities to perform well professionally
from club activities, projects in another class
or work that you’ve done for research or extra
curricularly with a professor. So two letters of recommendation,
both from a professor and academic reference, would
absolutely be admissible and would probably give
us the data that we’re looking for to see those
additional, kind of unique, mix of skills that we’re
looking for for this program in terms of great communication skills and great quantitative skills combined. – Great, thanks for that. Another question we’ve received
are what are some ideal background and
characteristics you’re looking for selecting a candidate. – Yeah, I’m happy to take that as well. I mean, I just sort of mentioned
a few, but really we’re looking for what Toby has
told us with his contacts in asset management make
really great leaders in the asset management field. So we’re looking for
people who are very skilled quantitatively and who have
had a little bit of training in microeconomics or
statistics or advanced math sort of courses, but who
are able to balance that with working in teams, with
presenting their findings in a dynamic way to say, a
board of advisors eventually, or something like that. A unique mix of teamwork,
communication skills and quantitative skills are
really what we’re looking to see in the applicants
or the in the students that we take for this program. – Great, thanks for that. We have another question coming in, how is the prerequisite
upper division statistics requirement defined and how
would I know if my stats courses fit that requirement? – Sure, I think that’s a great question. So by upper division, we mean
that kind of in a traditional university, you would say, first
year courses are 100 level, second year courses are
200 level and so on. So we are looking for a
statistics course that’s in the three to 400 level, that
means a statistics course that is really geared
towards people in their third and fourth year of study. We find that a lot of kind
of introductory statistics courses that are for people
who maybe haven’t have calculus would be listed as a
100 or 200 level course. So that’s what we mean by upper division. For the statistics
course that you’ve taken, we’re looking to see if
it’s post calculus courses. So courses that can use
derivatives and integrals to come up with statistical
analysis and regressions, rather than sort of basic
algebraic formations of statistics principles. That’s sort of what we mean by upper division statistics there. – Great, thanks for that. Another question we’ve gotten,
which I’m happy to take this one, can you apply to the MMS and asset management as well
as other programs at Yale? This person references the MMS and GBS through the partner
school at the same time. The answer to that is yes. You’re certainly welcome to
apply to any and all programs here at Yale at the same time. Of course, if you’re admitted
to both then it will be a decision of which program
you decide to enroll in or start with, based
on which degree program you’re looking at enrolling in. Another question is, are the
last two years of undergraduate studies weighted more
heavily than the first two? What do you think about that? – That’s a really great question as well and one that we do get sometimes. I will say that we’ll look
at your whole experiences and for some people, we might
be seeing like an upward trajectory, where maybe you
kind of entered university studies and had and it took a few semesters
for you to kind of settle down and start doing really well. We’ll take that into consideration. I wouldn’t say that we
weigh your later studies more heavily than your earlier studies, but we will look at any
stories that you have to tell, especially if you have
any low grades or anything and you want to explain
that in your optional or you know, allow us to
understand your story there. It’s definitely great for us. When we look at your academic experiences, we’re really looking for
evidence that you’ll succeed in the classroom, once you arrive at Yale. – Great, yeah. Someone is asking what
scores would be considered competitive for the GRE and
would the MBA median scores be a good benchmark for this program, since 2020 is the first batch? I would say yes, that is
definitely the best indicator of kind of who your
other classmates will be within this program,
given that we don’t have any class profile on the website right now for obvious reasons, we
would recommend using that as kind of reference but
also using that with a light touch, understanding
that this applicant pool will be entirely
different, most assuredly. One question is about
massive open online courses. Do they count as some
of the calculus courses listed on the application? Absolutely right? – Yeah, so if you have
taken MOOCs instead of, so I would use the academic
section in the application to report on any classes
or any experiences that you’ve had in the
classroom at your undergraduate or graduate institution. If you do have any MOOC
experience or any other experience to build your quantitative
skill set especially, I would use the optional
information section of the application to kind
of list those experiences, maybe upload any certificates
that you have there. We’re certainly happy to
take that into consideration, as kind of showing
preparedness for the program. – This is a great question, how does having some
full time work experience in a different field effect
one’s admissions chances? I’ll take that one. For that, I would say it’s
completely acceptable, of course, we are excited
about your candidacy regardless of if you have a background in finance or otherwise. Not expecting anyone to have
a background in the field of finance to begin with, of course, but you will be an interesting
profile with your candidacy and if admitted into the
classroom, of course. So I would certainly recommend applying, even if you’re feeling like
this is going to present an opportunity for a pivot for
you, as long as you’re still an early career professional
looking to do that, I would say that’s completely appropriate. Another question is the
academic recommender who teaches a quant course preferred to
one in a non-quant course. What do you think? – I thought, so that’s
a really great question. I think we’re going to get,
or I’m hopeful that we’re going to get a lot of data
about your quantitative ability from the rest of the application. The actual recommendation,
we’re looking more for who you are as a person to work with, how you relate to your peers. So I would choose professors
that know you the best over professors who have taught
the most relevant courses. – Definitely true, great. Then one question about,
let me find it here. Can I submit more than two
letters of recommendation? I would like to submit three. I will answer that and my
response is that within the application, we are
asking for one academic and one professional
letter of recommendation. We are aware that you are
able to upload more than two, but we definitely recommend
really thinking through who you’ve requested these letters from. More is not always better in this case. So we highly recommend making sure that you are using your
recommender’s time appropriately and wisely when making this decision. If you really can’t
whittle it down to two, then three would be okay, but six I would definitely advise against. So just keeping in mind
that bit of information as you’re thinking about
who to request your letters of recommendation from. One other question would be, what types of internships are most helpful for the application process? I think internships, really
any area in which you have an interest, those that
relate to this particular program and the classes
being taught therein, I think that’s great and may even give you additional preparation for
this type of course work. – Yeah, I would say that
any sort of internships that you’ve had in the
past is going to give you a lens to see where you want
to take your future, right. So if you started your studies
thinking that you wanted to work in fast moving
consumer goods and you did and internship there and
realized that that wasn’t the greatest fit for you,
that’s a story that you can use to explain your short and long term goals in the application, but
that still is very valid and relevant experience for this program, to just see that you’ve got
a little bit of experience in a professional setting
to get familiar with what’s out there and make
your future goals a reality here at SOM. – Great, one really good question here, I’m wondering if you
can give us general tips about people who might be entrepreneurs or working at their family’s business? So I know that when we’re
thinking about entrepreneurial experiences or the family business, a client relationship
might be the best way, asking a client to offer
a letter of recommendation on your behalf. Because in a way, you are kind
of working for them, right. That is a good you know,
kind of clear opportunity for you to use someone that
isn’t in your family necessarily or someone that might have some bias about your proficiency. Do you have any other
thoughts on that one? – Yeah, I think the SOM
community has a number of people, either working towards
their family business or have taken on leadership
roles in their family business before coming to SOM. I think you’ll have a
community here within the other degree programs to work with. Yale in general, has a really
unique and vibrant ecosystem for entrepreneurship,
so if that’s something that you’d like to look
at in terms of starting your own fund or starting your
own asset management firm, that’s something that I
think you’ll be able to find some support to investigate
that career goal here at SOM. – Great. Someone has a little bit, a couple more questions
about the video questions to follow up on. The deadline to complete
the video questions and what is the nature of the questions? Are they technical or competency based? – Definitely. The deadline to complete
the video questions, I think is three days after
the deadline of January 27. So I think by the last day of January, we’ve asked everybody to have
their video questions done. So you do have a few more
days after that submit date to complete them. In terms of the subject
matter, we didn’t put in any technical questions. We’re not asking you to solve any riddles or calculus problems in the questions. They really will be more
competency based in terms of your goals, your aspirations,
and some experiences that you’ve had in the
past related to team work or a complicated communication problems, working with difficult people
or different team mates, those sorts of things. – Great, great. We have just a couple more
questions and just only a little bit of time to answer these. Let’s see, as the program is quantitative,
is the targeted career path for graduates quant funds? I think that individuals
will be in a position to move into that sort of
career very seamlessly. Really, Toby always says that
this program was designed so that people realize
that they can do good and do well at the same time. I think that there is room
in space to move beyond the typical quant fund,
however, I think that will kind of be what most people move into. Would you agree? – I think that’s what the
training is developing you for in the way that the
curriculum is built right now. – Yeah. One other quick question,
asking about covering private equity in this course material and it definitely will. Also, you have the opportunity to take lots of amazing electives. Here at Yale SOM and
beyond, that will kind of, you can filter in a lot
of different niche areas of interest you might
have, aside from the core of the classes that you’ll be taking here. – Yeah, just to wrap that up
and to bounce of off that, I think that with the elective
options that you’ll have integrated into the curriculum, you’ll have ample opportunity to work in some PE and VC course work and activities if that’s what you’re
really interested in. You’ll have some opportunity
to run over to the engineering school if you want to work in some really advanced programming
and data analytics course works, definitely
a possibility as well. You’ll be able to work in
even some general leadership in presentation skills a
the Yale School of Drama, here at Yale SOM. If you really want to become
a more corporate style speaker in your career. So there’s lots of opportunities there to figure out where you want to develop and take some electives
to balance that out. – Great, great point Jolene.
– Perfect. – All right, that’s all
the time we have for today. Thank you so much for tuning in. We so appreciate your time and of course, as mentioned before, if we
didn’t get to your question or if you have additional
questions that are individual to your candidacy, please
don’t hesitate to contact us at [email protected] Thank you so much and have a
wonderful rest of your day.

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