RBS noted for top finance program in NYC area
Not even a year after the first class was admitted to the Rutgers Business School’s Master of Financial Analysis program, the program was recognized by The Financial Engineer as one of the top finance programs in the New York metropolitan area.
The nation's top universities recognize The Financial Engineer as the most comprehensive ranking system of United States Financial Masters programs, taking various factors into consideration such as GMAT scores, undergraduate GPAs, acceptance rates and starting salaries, according to The Financial Engineer’s website.
Coming in at No. 32 in the nation from a total of 94 profiled universities, Rutgers ranks as the No. 1 public program in the New York metropolitan area and the second overall program in the area under Princeton, according to The Financial Engineer.
The year-long program that was designed specifically to help prepare business students for the Chartered Financial Analyst (CFA) exam, has 28 current students and the amount of applicants has more than doubled since last year, said program lead Dan Weaver.
“There is a lot of demand for this program from international students,” Weaver said. “If you look at the percentage of students that took the CFA last year, 45 percent were from east and south Asia. So there is a tremendous demand for the CFA.”
Weaver, a Rutgers Ph.D graduate and professor for more than a decade, said he does not agree with The Financial Engineer’s decision to include the program in its rankings.
“We’re a brand new program, we shouldn’t be ranked already,” Weaver said.
The seasoned professor and writer of more than 25 published articles in the field said he agrees with the criteria The Financial Engineer takes into consideration for their rankings, but does not feel the University’s program has enough experience to be considered.
Reshma Shetty, a student and career liaison for the Master of Financial Analysis program, said she feels proud to be part of a program that is ranked so highly and feels the recognition will not only boost the amount of applicants but also help students who pass the CFA when returning to their home countries.
“If students go back to their home countries, this will carry a lot of weight, especially if they try to go into the field of corporate finance or if they want to be financial analysts,” Shetty said. “It improves their employment prospects.”
Although she is happy to see the University recognized, Shetty said she agrees with Weaver that the program’s inclusion in The Financial Engineer’s rankings may be a bit preemptive.
“It takes time for people to go out and achieve something,” Shetty said. “I think the program was considered because of the reputation the Rutgers Business School has and because of the strong curriculum. It covers a lot.”
Shetty said she plans to work in the cooperate sector following graduation and feels that the program covers many areas in finance, so many that it opens doors for students looking to break into HR, finance and accounting.
“I feel like this degree will let me go out into many fields,” Shetty said. “I would say mostly in financial and accounting. Most of them will ask you for a degree in finance.”
Undergraduate business students looking to further their education were also excited to see Rutgers ranked so highly, as the ranking adds to their possibility of applying to the Rutgers master's program.
Justin Melendez, a Rutgers Business School senior, said he feels it is always great to see Rutgers recognized to detract from the common misconceptions about the University.
“Growing up in New Jersey, I have heard from many residents that Rutgers is a 'party school' or that everyone gets in, but when you look at the rankings and what people who don’t live in New Jersey say about it, you realize that (Rutgers) is a great school,” Melendez said.
Melendez said the chances he will apply to the Rutgers master's program has increased since the ranking announcement and questions why others wouldn’t consider applying.
“I've heard from several people that Rutgers could have gone Ivy League before, but every time I see something like this it makes me wonder why I would apply to any other college for a degree,” Melendez said.
Other undergraduates shared Melendez’ sentiments. Zakaullah Hijazi, a Rutgers Business School junior, said he is excited to be a student in such a highly-ranked school and is glad to see an in-state school being recognized.
“It’s always asked upon those seeking a master's degree to reach out to a top-tier school, and most times that top-tier school is expensive and distant,” Hijazi said. “The Rutgers Master of Financial Analysis program offers students a top tier education close to home at a reasonable cost. I’m proud to hear that the Rutgers Master in Financial Analysis is ranked No. 32 in the nation.”