Frequently asked questions 

The CFA (Chartered Financial Analyst) Institute is a global organisation which administers the CFA qualification. This is a rigorous three-tiered professional qualification open to those working within the finance sector. It is a global standard for finance practitioners and is increasingly required by recruiting institutions.
The CFA Educational Partnership Programme officially recognises that 70% of the CFA qualification’s required body of knowledge is embedded within a degree programme’s curriculum. The Oxford MFE is delighted to be recognised as the founding member of this partnership programme, clearly demonstrating the academic rigour and professional relevance of the MFE syllabus.
The MFE and the CFA do not provide exemptions from each other’s exams. However, the MFE covers the most challenging areas of the CFA syllabus. MFE students also receive tailored training to help them prepare specifically for the CFA exams.

Yes, we only accept online applications through Apply Yourself, details of which can be found in the ‘How To Apply’ section of the website. Alternatively, you can also access the application form via the following link:
https://app.applyyourself.com/?id=ox-sbs
 
Applications are now open for the 2011/12 programme.
Transcripts, and other supporting documentation, must be scanned and uploaded to the form.  Please note that the School’s form is different from the Graduate Application Form, used by the University of Oxford Graduate Admissions Office for other graduate-level courses.

Yes, you can carry on using the same form.  However, you should review all of the sections you completed previously as there may have been updates to the form. Alternatively, you may wish to create new log-in details and start afresh with an entirely new application form.

There are three applications stages and you can apply in any of these.  However you are advised to apply as early as possible.  If your college choice and college accommodation is important to you, we recommend that you apply in Stage 1 or 2.

The average age of the current class is 23.

All over the world! Classes can, of course, differ in their composition but the current class hails from about 26 countries. 

We expect a class of about 70.

The MFE courses will be treated analytically and many of the concepts will involve mathematical techniques. We expect that successful candidatesoften will have taken some maths/quantitative courses during their undergraduate studies. At the start of the course all students are expected to have a working knowledge of Calculus and should know the basics of vectors and matrices, probability, statistics and econometrics. As a guide to what is expected, and as a refresher, all accepted students are expected to go through a Maths Workbook, which will be provided by us . We provide a short maths pre-course to make sure that all students have the skills required in the core courses.

Some incoming students will have more maths than others. However, everyone enters the course with different advantages and some will have prior economics training and/or significant experience in financial markets.  But it is one of the special features of the School that it brings together people with different backgrounds and that it develops technical as well as non-technical skills.

It's important to remember that GMAT or GRE test scores are only one element of your application, and you should not over-estimate their importance. Nonetheless, we will certainly be looking at the test scores for evidence of strong quantitative skills, given the analytical and quantitative nature of the programme.

We understand that non-native English speaking applicants are often at a disadvantage in the verbal tests, and we shall interpret accordingly the results. Having said this, English is the language of the course, and you have to be proficient and confident in its use. In terms of general guidance the average GMAT score for the current class is 730, and the average GRE scores were around the 90th percentile for the quantitative element, and 80th percentile for the verbal element. Regarding the GRE analytical writing test, we would expect most candidates to achieve a score of at least 5.

If your first language is not English*, you must supply suitable evidence that you have reached the relevant level before submitting your application.

TOEFL iBT - 109
Minimum required on each component: Listening - 21, Reading - 22, Writing - 21, Speaking - 23

TOEFL paper based - 630

IELTS - 7.5
Minimum required on each component: 7.0

Waivers:  The requirement to provide proof of proficiency may be waived, at the discretion of the School, in the following circumstances:  An applicant has studied full time at degree level for a minimum of 9 months at a recognised institution where the medium of instruction is English.

If you wish to apply for a waiver to the English language requirement, you must:

Upload a letter into the TOEFL/IELTS section of the application form stating that you would like to request a waiver of the English Language Test requirement for one of the following reasons:

(a) You have completed a degree in a majority English speaking country.*

As evidence we will review the transcripts you submit with your application.

(b) You have completed a degree at a recognised institution where the medium of instruction was English. 

As evidence we will require either that the transcripts you submit with your application state that the sole language of instruction was English
or
an official letter from your university stating that the medium of instruction throughout your course was English.  This letter must be also be uploaded to the TOEFL/IELTS section of the on-line form.

*List of majority English speaking countries as defined by the UKBA

Australia, New Zealand, USA, Canada, UK, Ireland, Antigua and Barbuda, The Bahamas, Barbados, Dominica, Grenada, Jamaica, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Trinidad and Tobago, Belize, Guyana

Exchange programmes/ distance learning/ on-line courses can not be considered for the waiver.

The institution code for ordering your official TOEFL score sheet from ETS is 0807.  There is no department code, this can be left blank.
If you choose to take the IELTS you need to sit the Academic test.  If you sit the TOEFL it must be the general test.

TOEFL and IELTS scores will not be valid if they are more than two years old on the application deadline for the stage in which you are applying.

Please note that we reserve the right to request a test of English to be taken at any time.

No. 34% of the current class has prior work experience, whilst the others come straight from undergraduate or other degrees.

You will need to provide us with two references (professional or academic). Only online recommendations are  accepted.

There is one essay question this year:
How do you hope to see your career developing over the next five years? How will the MSc in Financial Economics assist you in the development of these ambitions? Maximum 1,000 words

Please note that you will need to upload your completed essay onto our online application system before submitting your application. The Admissions Office will not give any feedback on any essays either before or after you have submitted your application

The tuition fee for 2011/12 is £29,500.  College fees are approximately £2,500.

It is the policy of the University of Oxford not to offer feedback regarding application decisions. If you are unsuccessful in gaining a place on the programme, you are welcome to submit an application again for the following or subsequent years. To do this, a new application will have to be created.

Decisions of the MFE Committee are final and we do not operate a waiting list.

All students on the MFE programme have to be a member of one of the University colleges.  Once a student has been offered a place on the MFE Programme the Admissions Team will help find them a college place.  Full details of the function of the colleges and the services they provide are available in the colleges guide: http://www.ox.ac.uk/admissions/postgraduate_courses/college_guide/index.html

Not all applicants to the programme will have an interview.  In each stage the Admissions Committee will review all the complete applications received by the deadline.  Candidates will be advised on the interview decision deadline whether they are being invited for interview, they are receiving a direct offer, or their application has been unsuccessful.  Candidates who receive an interview will be advised by the final decision deadline of the outcome of their application.

We look at the application in its entirety, and decide whether it satisfies all our requirements. We need to satisfy ourselves that, with hard work, you will be able to cope with the course. But beyond that, we are looking for highly motivated, high-achieving students, for whom the MFE fits well into their career plans, who will contribute much to the class, and who will go on to achieve great things.  We interview candidates where we would like the opportunity to discuss this in greater depth.

If you are selected for an interview, you will be invited to come to the School and have your interview here.  You may wish to be interviewed on an Open Day, which we offer in each application stage. Applicants are strongly encouraged to attend an in-person interview either in Oxford or at Information Events.  If it is not possible for you to come to Oxford, we shall arrange a Skype interview. For UK applicants you must attend a face-to-face interview at the School.