Corporate Finance

Corporate finance studies the financial decisions made within firms. These decisions are for the most part common to firms of any size. They involve identifying projects that the firm should invest, raising financing for these projects, and deciding how much of the firm earnings should be returned to its owners. Pursuing a career in this area requires strong skills in corporate finance and accounting, as well as very good communication skills.

Students specialized in this area can pursue the following career paths:

1. Corporate Career: This path leads to a career as a financial manager in a corporation. Corporate financial managers deal with the above issues on a daily basis and must decide on the basis of maximizing the value of the firm. A typical starting point is that of a financial analyst within a large corporation (Boeing, GM, GE, Caterpillar, Motorola, etc.). Analysts usually go through a series of rotations of six months or more in various departments within the firm (financial reporting, treasury, strategy, etc.). The goal for someone pursuing a corporate career is to become a Chief Financial Officer (CFO), which is often an intermediate step towards becoming a Chief Executive Officer (CEO).
2. Investment Banking Career: This is the typical area of specialization for students interested in working for an investment bank. Investment banks provide consulting services to corporate clients for Mergers & Acquisitions (M&A), raising financing (Initial Public Offerings (IPOs), bond or equity issues), and corporate strategy. Investment banks are categorized into three groups:
   1. Bulge Bracket: These are the largest banks that offer all types of services and have both a domestic and a global presence. Familiar names are: Goldman Sachs, Merrill Lynch, Morgan Stanley, Citigroup, UBS, etc.
   2. Mid-tier: These banks have a more regional or industry focus. They may specialize in specific types of transactions, such as mid-cap firms. Familiar names are AG Edwards, DLJ, etc.
   3. Boutique: These are smaller investment banks that are very specialized. They may be the best in specific areas of investment banking, for example small-size M&As, or specialize in one or two industries. Some names are Houlihan Lokey and Cochran Caronia.
3. Consulting Career: This path leads to employment in any consulting firm. These firms provide advice to corporations on corporate finance, accounting, and taxation issues. Familiar names are the consulting subsidiaries of the big four accounting firms, KPMG, PriceWaterhouseCoopers (PWC), Deloitte, and Ernst & Young. This path typically requires good accounting and/or IT skills.

Highly Recommended Course (required for the relevant track)

• Finance 521: Advanced Corporate Finance

Other Electives (At least 8 additional hours from the relevant list below)

• Mergers & Acquisitions (2 hours)
• Cases in Financial Strategy
• Enterprise Risk Management
• International Finance
• Financial Statement Analysis
• Growth Corp Capital Funding
• Investment Banking
• Behavioral Finance (2 hours)
• Retirement Policy (2 hours)
• Business Tax Policy (2 hours)

Requirements

• Résumé
• Written Statement. The 300 word statement is the only statement required.  Applicants Do NOT need to complete the 1500 word statement referenced in the online application.
• Unofficial Transcripts. The unofficial transcripts must include a transcript legend, grade scale or grade criteria. If an offer of admission is made, the Official Transcript(s) are required to be submitted upon arrival to campus**.
• Degree Certificate/Diploma If an offer of admission is made, the final Official Transcripts and the Official Degree Certificate(s)/Diploma are required to be submitted upon arrival to campus.
• (3) Letters of Recommendation. Enter the name and email address of 3 recommenders. The application system will send emails to the Recommenders and request their electronic submission.
• Provide official GMAT or GRE scores.  MSF applicants are required to submit a test score.  All current and previous results must be reported to the University of Illinois electronically.  Application files will not be reviewed until a GMAT or GRE score is provided.
• Online Application/ fee payment ($70 domestic/$90 international) can be paid by credit card when you submit your online application.
• English Language Test Score TOEFL (from ETS) or IELTS score TOEFL scores must be sent to the U of I directly from ETS using Institution Code: 1836, Department Code: 00. IF you are required to select a division, you may select “Graduate School of Management”. For IELTS scores, you should upload a copy of your score card.
• International applicants are required to provide financial verification for the first 12 months of their program. 

Scholarships

• Golden Scholarship
• Global Education