Name

Liyun Dong

School

University of Florida

Degree Program

First year Master of Science student in Finance

Previous Degrees

Bachelor of Engineering in Chemical Engineering from National University of Singapore, 2008

Advisor

None

Hobbies

Watching movies, traveling, listening to classical music, playing soccer

Graduate School – Application Process

How did you select your graduate school and program?

I decided to attend University of Florida for my masters degree in finance because the program offered a flexible structure. I am interested in studying investment banking and fixed income trading, and the finance program at University of Florida allows me to take relevant classes in those 2 areas. In fact, the program does not require students to take any specific classes.

In addition, I selected University of Florida based on its prestigious reputation, good graduation rates and location. I am from Singapore and wanted to find a school that was located in an area with warm weather.

What did you do to prepare yourself for graduate school?

I prepared for graduate school by gaining professional experience in the engineering field. Prior to deciding to pursue a masters degree in finance, I worked as an engineer for 3 years. Although engineering and finance are not related, my professional experience gave me the opportunity to display my track record in a work environment.

Did your application requirements include standardized test scores?

Yes, my application required GRE test scores. In order to prepare, I studied for 8 months. I purchased preparation books that allowed me to study for the verbal, quantitative and writing sections of the GRE test. University of Florida requires a minimum score of 750 in the quantitative section and 600 in verbal section.

What kind of information did you include in your personal statement?

In my personal statement, I introduced myself by discussing my past work experience and my career goals. I also talked about what I hoped to achieve with my masters degree in finance.

How did you choose faculty to approach for letters of recommendation?

For my letters of recommendation, I chose my undergraduate professor because he could speak to my academic abilities. I also selected my work supervisor because he knew me well and could vouch for my professional abilities. Lastly, I chose the director at my work because I felt that he held some prestige in the field.

Do you have any other tips for a student who is considering applying to graduate school in finance?

I would tell a student who is considering applying to graduate school in finance to determine their career plan beforehand. It is important for students to clearly state their career goals and how graduate school will help achieve them in order to make their grad school application more convincing.

Graduate School – The Program

How long is your program and how is the curriculum distributed?

Although my masters program in finance typically takes students 2 years to complete, I am completing the program in 1 and a half years. Students generally take 9 credits per semester, but I am taking 12 to 14 credits per semester, which will enable me to graduate faster.

My program is composed of 32 credits, but students choose the classes they want to take. For me, I took classes in fixed income and interest rate management during my first semester. In my second semester, I plan to take classes in investment banking, mergers and acquisitions, valuation and risk management. During my third semester, I intend to focus on advanced topics in derivatives. In general, my coursework involves reading assignments, case studies, group projects and taking exams.

Does your program have an internship component?

No, my program does not require an internship component, but students are highly encouraged to complete one. I believe that 90% of the students in my program complete an internship at some financial institution during the summer.

My finance program at University of Florida provides students with great internship resources. Program advisors give general interview advice as well as helpful information on how to prepare for an interview with specific companies. They also help students keep track of their internship applications during their job hunt.

What role does your advisor play in your education?

Although I do not have an official advisor, I often seek out advice from the director of my finance program. I consult with him about my career goals and he gives me class recommendations based on my career objectives.

Does your masters program require comprehensive exams prior to graduation?

No, my masters program does not require comprehensive exams prior to graduation.

How does a masters program differ from undergraduate study?

The main difference between a masters program and an undergraduate program is the class expectations. While bachelors students focus on studying textbooks and notes, masters students often need to conduct outside research and find other resources to prepare. In other words, the answers may not come from a textbook in a masters program.

Another main difference is the curriculum. Bachelors students explore a variety of different classes, whereas masters students take specific classes related to their academic interests and career goals.

Graduate School – Paying for It

How much does your masters program cost?

My masters program in finance at University of Florida costs about $40,000 total. Each credit costs $1,200 and students need to take 32 credit hours to graduate. In addition, I pay about $300 for books each semester. It helps to find them used or online.

How are you funding your education?

I am funding my education through my own savings. Before enrolling in my finance program, I worked as an engineer for 3 years, so I was able to save quite a bit of money. I also plan on applying for a teaching assistant position next semester, which will help too.

Graduate School – Living Life

What are the time commitments for a masters degree in finance?

My time commitments for a masters degree in finance at University of Florida vary from semester to semester, depending on the number of credits I am taking. In general, I spend about 14 hours in class and 10 to 20 hours reading and researching. Because my background is in engineering, I probably spend more time than the average student familiarizing myself with different finance concepts and terms.

In addition to classwork, I spend quite a bit of time pursuing extracurricular activities. For example, I joined a student investment club that requires me to attend a 2-hour meeting each week. I also joined an international student support group and an international friendship English class to practice my English speaking skills.

How has graduate school affected your personal life?

In order to balance graduate school with the rest of my life, I utilize time-management strategies. I usually prioritize tasks and determine what is more important. For example, I always finish my classwork before attending a social event. In addition, I focus on completing 1 assignment, but if I get stuck, I move on to the next assignment and seek out help from a professor or teaching assistant the next day.

Graduate School – After Graduation

Where do you see yourself in 5 years?

In the next 5 years, I hope to be working as a financial analyst on Wall Street. If the economy is still weak in the United States and I can’t seem to find a job, I might consider moving back to Singapore to work in the financial field.

Graduate School - Advice

What insights can you offer a student who is interested in pursuing a masters degree in finance?

I would tell a student who is interested in pursuing a masters degree in finance to narrow down their career objectives before applying. This saves a lot of time during the application process and the graduate school experience in general.

I would also tell a student that it is still favorable to graduate with a masters degree in finance despite the weak economy. Financial firms are still coming to graduate schools to recruit students. With this said, students really need to stand out in order to get a job because the job market in finance is very competitive.