Programm Course Name
Global Master of Finance Dual-Degree (GMF)
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14-
month duration
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S$34,880
Tuition fee (Inclusive of GST)
Goods and Services Tax (GST) is a tax collected on behalf of the Singapore Government and will be charged at the prevailing rate
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Application Closes
End-May 2024
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Pre-requisites
Bachelor's Degree
GMAT / GRE / SMU Admissions Test
TOEFL / IELTS (if the medium of instruction of your undergraduate studies was not in English)
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Working experience
Designed for fresh graduates, work experience is not a requirement.
About the Global Master of Finance Dual-Degree (GMF)
Combining the best of two academic worlds, the Global Master of Finance Dual-Degree (GMF) programme offers you the opportunity to study in two top-tiered universities. Designed to educate a new generation of risk manager, research analysts, and investment decision-makers, the programme is delivered through a relevant curriculum and innovative pedagogy to support Asia's need for new business creation and innovation.
Why pursue the GMF?
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1
Best of both academic worlds
Benefit from world-class instruction from both Lee Kong Chian School of Business faculty and Olin Business School, a leading US management institution.
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2
Global networking experiences
Enjoy the unprecedented opportunity to tap into two large global networks of industry professionals and alumni.
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3
Gain different perspectives
Experience immersion courses in New York and Washington, DC, designed to familiarise you with the US financial markets, policymaking and financial rules and regulations.
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4
Receive specialised training
Access quality training targeted to your specific marketplace.
Testimonials
Programme Details
Programme Information
The programme admits one class per year in a condensed 14-month format. You will take classes in five terms: a summer session at Olin, two academic semesters at SMU, another summer session at Olin and a final semester at SMU.
Term 1
(July to August, Washington University, 6 Olin credits)
- Derivative Securities (1.5 credit units)
- Options & Futures (1.5 credit units)
- Investment Theory (1.5 credit units)
- Advanced Corporate Finance I (1.5 credit units)
Term 2
(August to December, SMU, 5 SMU credits)
- Quantitative Methods and Economic Analysis (1 credit unit)
- Hedge Funds (1 credit unit)
- Financial Statement Analysis 1 (1 credit unit)
- Fixed Income Analysis (1 credit unit)
- Financial Modelling (1 credit unit)
Term 3
(January to March, SMU, 3 SMU credits)
- Advanced Quantitative Methods & Economic Analysis (1 credit unit)
- Advanced Financial Statement Analysis (1 credit unit)
- Sustainable Finance & Alternative Investments (1 credit units):
Term 4
(June to August, Washington University, 18 Olin credits)
- Data Analysis for Investments (1.5 credit units)
- Advanced Corporate Finance II (1.5 credit units)
- Valuing Strategic Corporate Investments (1.5 credit units)
- Mergers & Acquisitions (1.5 credit units)
- Electives (May vary each year, 6 credit units)
- Financial Markets – Regulation, DC Immersion (3 credit units)
- Financial Markets – Institutions, NYC Immersion (3 credit units)
Term 5
(August to February, SMU - 2 SMU credits)
- Postgraduate Professional Development Course (1 credit unit)
- Open Elective* (1 credit unit)
*The Open Elective refers to an Internship OR Capstone project OR another elective module.
QUANTITATIVE METHODS AND ECONOMIC ANALYSIS
This module provides the basics of quantitative analysis, probability theory and data analysis, with special reference to finance. We will look at the time value of money, theory of interest, probability theory, descriptive data analysis, decision trees, estimation and hypothesis testing, and simple statistical analysis such as correlation analysis, regression analysis and time series analysis. The module also covers the principles of microeconomic and macroeconomic analysis with particular reference to economic management and the financial markets. The aim is to learn and apply theories to the analysis. Topics in microeconomics include supply and demand, competition and monopoly, externalities and the new IT economy. For macroeconomics, topics include growth, trade, cycles and the causes and cures of global financial turmoil.
HEDGE FUNDS
This module provides an overview and a framework for hedge fund management. We will explore hedge fund objectives, institutional features, statistical and econometric concepts, hedge fund strategies, funding of hedge funds, risk management, performance measurement and compensation issues.
FINANCIAL STATEMENT ANALYSIS
This module provides an introduction to the framework for financial statement analysis and financial statements (i.e. statement of financial position, statement of financial performance and comprehensive income, and statement of cash flows). In order to understand financial statements, you will learn the key accounting concepts and policies that determine the 'numbers' presented in financial statements. You will also be introduced to basic financial analysis techniques and specific areas of financial statements (e.g. inventory, receivables, PPE, income taxes, financing liabilities, off-balance sheet financing, etc.), as well as the need for analytical adjustments in analysing financial statements. You will also be introduced to the differences in US and IFRS GAAP and the convergence of accounting standards.
FIXED INCOME ANALYSIS
This module covers the basics of fixed income securities markets and the derivatives markets. Fixed Income Securities are securities whose income is literally fixed, and more generally any claims whose value or risk is related to interest rates and interest rate uncertainty. You will learn about the evaluation of these securities, the market operations and the risk involved. We will then discuss how you can manage fixed income security portfolios and the resulting risk. This module will also discuss properties of the derivative markets, including basic derivative securities such as forwards, futures, swaps and options, as well as the pricing and valuation of derivative contracts under the no-arbitrage framework.
FINANCIAL ANALYTICS AND INNOVATION
To be updated.
ADVANCED QUANTITATIVE METHODS AND ECONOMIC ANALYSIS
This module builds on and extends the coverage of the earlier modules of Economic Analysis and Quantitative Methods and Statistics. Some advanced topics on the analysis of economic data will be covered, including multiple regression models, time series and econometric modelling, nonparametric statistics and multivariate analysis. We will examine applications of these techniques in portfolio management, economic forecasting, term structure modelling, asset pricing theories, performance measures and interest rate management.
ADVANCED FINANCIAL STATEMENT ANALYSIS
This module builds on and extends the coverage of the earlier modules, Financial Statement Analysis 1 and 2. We will cover advanced topics in financial statement analysis, including corporate restructuring, accounting for inter-corporate investments, mergers and acquisitions, distress analysis, accounting for multinational operations and the use of financial statements as a tool for valuation and forecasting.
FINANCIAL MODELLING AND ANALYTICS
Managers often need to make important, yet quick, decisions that are usually difficult to justify without a good model and thorough analysis. This module focusses on helping you leverage spreadsheets as effective tools in financial modelling. Through hands-on practice in class, you will be able to develop your own spreadsheet models covering representative topics from corporate finance to investment planning and analysis, analysing trade-offs and sensitivities, and understand the implications of uncertainties and risks. The key emphasis of this module is on acquiring the necessary programming skills and developing the art of modelling over learning about available financial models.
FINANCIAL SUSTAINABILITY & ALTERNATIVE INVESTMENTS
To be updated.
Events
Admissions
How to Apply
Please read the following instructions carefully before completing your application.
Submitting the Application
Supporting documents can be delivered to us either by hand or by mail. Our address is as follow:
SMU Lee Kong Chian School of Business
50 Stamford Road
Level 4 Graduate Programme Office
Singapore 178899
Office Hours: Monday to Friday, 8.30 a.m. - 5.45 p.m.
To expedite your application process, applicants are encouraged to email a softcopy of their supporting documents after submitting their applications to maf@smu.edu.sg.
Notes:
If your certificates are certified 'true copies', you do not need to bring the originals for verification.
If your transcripts are not in English, you will have to translate all documents to English, and have them certified.
After Submitting Your Application
Upon submitting your online application, a link will be sent to your referees via email to submit their recommendations online. You will be required to fill in your referees' particulars accordingly.Applicants are encouraged to notify their referees before or after submitting their online application to complete the online recommendation form.
GMAT
We require applicants to take the GMAT (Graduate Management Admissions Test). The GMAT measures general verbal and mathematical skills, and the score report gives separate scores for the quantitative and verbal sections of the test, as well as a total score. There is also a short analytical writing section. The GMAT is used to promote fairness, objectivity and validity in selection and provides supplementary information to that contained in the application form.
There is no minimum GMAT/GRE score required. We will view your application for admission to this programme holistically to gauge your suitability.
However, to make your application more competitive, we encourage applicants to achieve the following:
GMAT/GRE: 600 and above (with a strong Quantitative Score)
TOEFL: 95 (internet based test)
IELTS: 6.5 and above
Note: A GMAT score is valid for five years after the test date. You can retake GMAT 16 days after your first attempt, but retaking the test is only recommended if you believe you have under-performed significantly. You are strongly encouraged to be well prepared for your test, as you will be allowed a maximum of five attempts within a calendar year.
If the rest of your application is complete, you can send it to us, even if you have not taken the GMAT. Do note that we will process your application only after receiving your GMAT score.
Email us the unofficial score report, which you will receive a hardcopy of immediately after the test. Please also arrange with the test centre for the official score report to be sent to SMU via the institution code F8D-7V-27.
GRE
You can submit your GRE score instead of GMAT. SMU's GRE institution code is 5757.
Note: Your GRE score is valid for five years after the test date. If you have taken the GRE test more than once, you should submit your highest score if the score is still within the 5 years validity period after the test date.
TOEFL/IELTS
The TOEFL/IELTS test is required if the medium of instruction in your undergraduate education was not in English.
SMU’s
Note: Your TOEFL score is valid for two years after the test date.
Of the two personal references, one should typically be from a current or previous employer, a colleague, or someone else who knows you well at work; the other referee could be someone who taught you at university or college, or another person who knows you in a professional capacity.
For fresh graduates, both referees can be your professors.
Upon submitting your online application, a link will be sent to your referees via email to submit their recommendations online. You will be required to fill in your referees' particulars accordingly.
Applicants are encouraged to notify their referees before or after submitting their online application to complete the online recommendation form.
Admission Requirements
- A good university degree
- A good GMAT or GRE score
- IELTS or TOEFL (required if the medium of instruction of your undergraduate studies was not English)
For more information on admission to the Global Master of Finance Dual Degree Programme, please view the following:
FAQ
FAQ
SMU is set up as Singapore's first publicly-funded private university offering a style of education modelled after The Wharton School.
SMU has established a reputation for pushing the boundaries of innovation, creativity and academic excellence in redefining tertiary education. SMU introduced pedagogy previously unseen in Singapore, and has shown how a broad-based education and interactive teaching environment in small class sizes produces graduates well-prepared for the demands of the real world.
SMU is also known as a pioneer in its holistic admissions approach of recruiting all-rounded, multi-talented students and incorporating leadership and soft skills training in the curriculum.
Visit our SMU's main website for more information.
There are six schools in SMU: the Lee Kong Chian School of Business, the School of Accountancy, School of Economics, School of Information Systems, School of Law and School of Social Sciences.
Please click here for a list of our postgraduate programmes.
As an international student, you should hold a valid employment pass or dependant's pass if you wish to enrol in a part-time programme offered by SMU.
Successfully securing a job offer is subject to numerous factors, ranging from the performance of a candidate during his or her job interview, the economy, the candidate’s personality and expectations. To date, our graduates have been well sought-after locally and internationally.
The programme provides a stepping-stone for those who want to enter the finance and banking industries. Most of our graduates venture into the fund management, banking and consultancy sectors.
The immediate return is a chance to get into the finance industry. The rest depends on the individual, i.e. job performance.
An SMU degree is recognised worldwide. Kindly check with the education ministry in your home country to be sure
Students enrolled in the Global Masters of Finance with Olin Business School will join the Master of Science in Applied Finance (MAF) class in SMU, completing their module requirements in tandem with SMU students. The frequently asked questions and answers provided below pertain to the part of the programme completed in SMU only, unless stated otherwise.
Students of the GMF programme are expected to complete 13 SMU credits over two terms in SMU from August through to May. This includes 9 credits in core modules, and 4 credits from elective modules.
Exemption is not possible. Students are required to complete 13 SMU credits as part of the GMF requirements.
In order to graduate, you will have to complete 24 Olin credits (equivalent to 16 modules) and 13 SMU credits (equivalent to 13 modules).
All lessons and examinations are conducted in English for modules in SMU.
You are expected to attend all the classes scheduled for each of the core and elective courses. The pace is rapid, and sessions follow a building-block approach, with each lecture building on material covered earlier.
You will need to set aside a considerable amount of time for preparation, reading, group work, project work, private study, the completion of assignments, and revision/consolidation for examinations. The pace at which individuals work will obviously vary, but as a rough rule of thumb, you will need to put in two to three hours of work outside of the classroom for every hour actually spent in the formal sessions.
A typical class size is about 50 to 60 students.
Students who wish to request for leave of absence have to write in to the Programme Director with valid reasons.
As the programme is only offered on a yearly basis, the minimum leave of absence is one year.
You may defer for a year only, and the candidature lapses automatically if you do not return the following year.
Yes, you may withdraw from the programme upon approval from the Programme Director. A student who leaves / requests to withdraw from the University and/or Programme two weeks or more after the commencement of a term is liable for the payment of fees for the entire term. Request for partial payment will not be considered.
You will have to write in to seek permission from the Programme Director.
Students enrolled in the Global Masters of Finance with Olin Business School will join the Master of Science in Applied Finance (MAF) class in SMU, completing their module requirements in tandem with SMU students. The frequently asked questions and answers provided below pertain to the part of the programme completed in SMU only, unless stated otherwise.
The programme will be taught by well-qualified and experienced SMU and industry professionals. The syllabus is customised for the local and regional financial environment with international perspectives.
SMU has a four-point grading system. If computations result in the cumulative Grade Point Average (GPA) exceeding the four-point grading system, a round down approach will be adopted. The highest cumulative GPA attainable by a student is 4.0.
All students must maintain a minimum GPA of 2.5 and above in order to graduate from the programme. If a student does not meet the GPA requirement in any particular term, he or she will be issued a warning letter. Those with GPAs below 2.5 for two consecutive terms will be asked to leave the programme.
A student may, upon the recommendation of the Course Instructor and approval of the Programme Director, re-sit a written assessment component of a course in which an overall fail grade was registered.
The re-sit, being a replacement assessment, must be of the same format, scope, and rigour as that of the original assessment. For each course, only one re-sit examination or written assessment will be arranged per term. Requests for alternative re-sit arrangements will not be entertained.
A student who passes a course on re-sit will receive an overall grade of "D", which will override the original fail grade.
In the event a student fails a re-sit, he/she must retake the course or take an alternative elective (subject to compliance of the academic standing policy). No further appeals will be considered.
As SMU practices rolling admissions, the Admissions process (submitting of application, passing the interview with the Admissions Committee, and accepting the admissions offer) will typically take about two (2) weeks to complete. This is provided that candidates fulfills most of the admission critera stated below.
The admission criteria are:
A good university degree
A good GMAT or GRE score
IELTS or TOEFL (required if the medium of instruction of your undergraduate studies was not English)
We would expect applicants to have a good basic degree. However, we look at many other aspects of your application such as your drive and motivation. We also conduct interview sessions to select each cohort of students.
All the courses require no previous formal training. However, the pace builds up quickly, and is rapid and demanding. Preparatory classes will be available before classes commence.
Applicants from all backgrounds and working experience are eligible to apply for the GMF programme. In fact, some of our students are using their knowledge and skills learnt in the programme to enable them to enter the banking and finance industry.
You need to be numerate, rather than having particularly strong mathematical skills. You certainly do not need to have an undergraduate degree in mathematics or the pure sciences. Some calculus will be required for certain modules in the programme.
No. The GMF is designed for fresh graduates and work experience is not a requirement.
For the GMF, the majority of the students come straight into the programme after getting their first degree, and the average age upon entry to the programme is 24.
There is only one intake per year, commencing in July.
Admissions are done on a rolling basis. A typical applicant willl be notified of their application outcome within 2 weeks after applying.
You can apply again even though your previous application was rejected.
CFA stands for Chartered Financial Analyst. You may click here to find out more.
No, but the SMU modules in the GMF curriculum are designed to meet the CFA examination requirements for those who wish to pursue their CFA designation.
No, the tuition fees do not include the CFA examination fee.
It is important to have proper guidance from professors and industry professionals throughout the course of your studies. Our American-style pedagogy, the emphasis on soft skills training and the ability to communicate knowledge in a compelling manner provide our students a competitive edge.
You may log on to CFA’s website, and obtain more information pertaining to the CFA examination.
Our students have performed well, with a higher pass rate compared to the world wide pass rate in most examinations.
The CFA examination is available in Singapore. Please click here for a list of CFA examinations centres around the world.
SMU will assist in the application of student passes for all international students studying full-time in SMU.
SMU will assist you with the application of your student visa in April before you arrive in Singapore. All applicants will have to log onto the ICA's website to fill up the Student's Pass Application Form (eform 16) and submit it online via the Student's Pass On-Line Application & Registration (SOLAR) System.
The processing fee is S$30 (inclusive of GST); upon approval by ICA, you will have to pay a S$60 (inclusive of GST) issuance fee for the student pass, and S$30 (inclusive of GST) for a multiple-entry visa.
No, you cannot extend your student pass after you have graduated.
Generally, all students will get their student visa. In the unforeseen event that it happens, we will look into it on a case-by-case basis.
Yes, the medical examination can either be done in your home country or in Singapore by a qualified doctor. However, medical examinations required for subsequent renewals of the Student's Pass must be done in Singapore. The doctor must record and certify the results of your medical examination in the designated medical report form.
The medical report should not be issued more than three months from the submission or renewal date of your application; it should also be translated into English. If you have submitted a medical report to the Immigration & Checkpoints Authority or Ministry of Manpower not more than two years ago, there is no need to re-submit a fresh medical report.
We do not arrange accommodation for students. However, there is a wide selection of accommodation choices available in Singapore. Students are encouraged to look for their own accommodation before coming to Singapore. The SMU campus is conveniently located in the city and is well-served by public transport.
Yes, there will be an orientation programme for students of the GMF programme.
There are a lot of student associations / clubs in SMU. There is also the Mrs Wong Kwok Leong Student Wellness Centre. You may click here to find out more.
The school purchases health insurance for all SMU postgraduates.
SMU full-time matriculated international students holding a valid student pass may take up employment in Singapore during their vacation and are exempted from applying for a work permit as stated in the Work Permit Exemptions Notification.
However, during term time, a student holding a valid student pass is only allowed to work part-time, i.e. less than 16 hours per week. A letter of consent is not required from the Immigration and Checkpoints Authority of Singapore or the university.
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