The following is based upon information that is also contained on the AIM web site.
Q) What is the Private
Equity & Banking Track?
Beginning with
the Class of 2016, the AIM program is expanding and will include two tracks:
Investments and Private Equity & Banking. The Investments track will
continue to focus on asset management, while the Private Equity & Banking
track concentrates on private or transactional finance.
The Private
Equity & Banking track is dedicated to forging closer ties with the private
equity and investment banking sector. Like the Investments track, it reinforces
our commitment to linking theory with practice and by engaging alumni and
leading industry experts.
Q) How does the
curriculum differ between the Investments and Private Equity & Banking
tracks?
The AIM
program operates within the Department of Finance which means that students in
the program must be declared as finance majors. In addition to fulfilling all
of the courses required by the College of Business (i.e. FINA 3001:
Introduction to Financial Management), an AIM student must complete the
following:
AIM Program Requirements (Investments Track):
Students accepted in the AIM program must earn
a BC or better in the following required courses:
ACCO 3001:
Intermediate Accounting
ACCO
4080: Analysis of Corporate Financial
Statements
FINA
3986: Internship Work Period
FINA
4001: Advanced Financial Management
FINA
4011: Investment Analysis
FINA
4065: Fixed Income Securities
FINA
4310: Introduction to Applied
Investment Management
FINA
4320: Research and Financial Analysis
FINA
4330: Valuation and Portfolio
Management
FINA
4370: Advanced Investment Management,
Ethics and Society
One of
the following:
ACCO
4020: Advanced Accounting
ECON
4060: Introduction to Econometrics
FINA
4060: Introduction to Financial
Derivatives
FINA
4081: Investment Banking
FINA
4082: Alternative Investments
FINA
4112: Investment Management
One of
the following:
ACCO
4040: International Accounting
ECON
4044: International Currency Markets
FINA
4040: International Finance
AIM Program Requirements (Private Equity &
Banking Track):
Students accepted in the AIM program must earn
a BC or better in the following required courses:
ACCO
3001: Intermediate Accounting
ACCO
4080: Analysis of Corporate Financial
Statements
FINA
3986: Internship Work Period
FINA
4001: Advanced Financial Management
FINA
4310: Introduction to Applied Investment
Management
FINA
4011: Investment Analysis
FINA
4340: Private Equity, Society and
Ethics
FINA
4350: Applied Financial Modeling
FINA
4381: Investment Banking
Two of
the following:
ACCO
4020: Advanced Accounting
ECON
4060: Introduction to Econometrics
FINA
4060: Introduction to Financial
Derivatives
FINA
4065: Fixed Income Securities
FINA
4080: Entrepreneurial Finance
FINA
4082: Alternative Investments
FINA
4112: Investment Management
One of
the following:
ACCO
4040: International Accounting
ECON
4044: International Currency Markets
FINA
4040: International Finance
Q) What are some
of the applied learning elements of the Private Equity & Banking track?
In addition to
providing an academically rigorous set of private equity and investment banking
courses (listed above), the Private Equity & Banking track also will add a
strong element of applied learning including:
- · Summer internships within investment banks, private equity firms, and other financial service providers
- · Opportunities for students to learn from experienced professionals,
- · Incorporation of financial modeling and case studies into the curriculum
- · Interaction with Marquette’s growing finance alumni network who will continue to provide valuable assistance in preparing students for internships and entry level positions
- · Management of a micro-cap equity fund
- · Use of “in the trenches” guest speakers in the classroom to allow students to learn about real private equity and banking experiences,
- · Creation of a Private Equity & Banking Club which will provide opportunities for coaching and nurturing that are important in helping students accelerate their careers
- · Opportunities for students to assist in the monitoring and evaluation of the performance of private equity investments within various investment portfolios (i.e. university endowments, local and state public pension funds, family offices, etc.).
Q) When does a
student accepted into the AIM program declare the track they wish to pursue?
During the
enrollment process students will indicate whether they have a preference for
the Investments or Private Equity & Banking track. Their response will not
be a part of the decision process as to whether the student is accepted into
the AIM program. The information is useful in determining future course
offerings.
All students
accepted into the AIM program will take a similar set of courses throughout
their junior year. The curricular differences in the two tracks appear during
the students’ senior year. Therefore, before a student chooses their courses
for the fall semester of their senior year (usually during the month of March),
they will be designated as either in the Investments or Private Equity &
Banking track. The program director (Dr. David Krause) and co-director (Mark Zellmer)
will advise the student as to the best track based on the student’s background
and area of interest. Best efforts will be make to assign students to their desired
track, while at the same time attempting to seek a working balance. Factors
taken into consideration will be the students’ career interests, internship
offers, and cumulative grade point.
The course
catalog for the 2015-2016 academic year will contain the specifics on the AIM
program application and the process of assigning students into one of the two
tracks.
Q) How relevant
is what I learn in AIM to the real investment and private equity world?
As the name
implies, AIM is an applied program. The instructors who teach in the program
have solid academic track records and have extensive real world experience. In
short, they know both financial theory and business practice. One of the major
benefits of the AIM program is that students are also able to learn in their
internships and in the classroom from finance professionals that also help link
theory to application.
Q) Can I
double-major while being enrolled in the AIM program?
Yes. Many students have successfully sought an
additional major in addition to studying the AIM curriculum (and obtaining a
finance major). You will need to discuss double-majoring with Dr. Krause and
advisors in the other department you see a second major.
Q) How can I
juggle working on my degree, interning at a finance firm, spending time with my
friends, studying for the CFA exam, and still meet the obligations of the AIM
program?
There is no
denying that the AIM program requires a serious commitment. In addition to
actual class time, you should expect to spend at least 15 hours a week
researching investments and studying for the CFA exam (Investment track). This
is intended to be a rigorous program and there may well be some activities you
will need to postpone while pursuing your degree. On the other hand, you are
not alone in the AIM program – you will be enrolled in many of the same classes
as your program colleagues and will have an opportunity to travel through the
AIM program as a cohort. In addition,
the comparatively short duration of the AIM program means the rewards for all
the hard work involved are never too far from sight.
Q) What types of job will AIM prepare me for?
It is clearly
very difficult to predict the path that a person's career will take. However,
the thread that unites students in the AIM program is their interest in
investments, private equity and investment banking. Some students may be more
interested in equity or fixed income investment research, while others will
have a greater interest in the transactions side of the investment banking and
private equity industry. Quite a few students have stated their their goal is
to work for an investment firm, obtain their CFA charter, and then attend a top
tier graduate school. Others are interested in working at a bulge bracket or
middle market investment bank and someday becoming a partner in a private
equity firm. Others are interested in working in hedge funds or working as a
financial consultant. Starting positions in the finance industry are naturally
dependent on previous work experience - and may range from an associate analyst
position to a management trainee program to a mid-office credit analyst
position (also see the see internships and careers section).
Q) How do I know
if the AIM program is right for me?
That’s a
decision you’ll have to arrive at independently. From our perspective we view
the successful applicant to the AIM program as having a strong intellect, an
active curiosity about the investment banking and asset management industry, a
demonstrated record of academic achievement, a well-conceived plan for their
future, and good communication and analytical skills. Candidates will have the
opportunity to demonstrate these traits through their academic record, resume,
letters of recommendation, personal application essay, and a program interview.
Q) Who is
eligible for admission to the AIM program?
Students
applying to the AIM program are finance majors; however, some are also majoring
in other business areas, such as accounting and international business. What
the students accepted into the AIM program share is a sincere desire to succeed
in finance, graduate from Marquette, and obtain their CFA charter or MBA
degree. All of the students display a willingness to work hard toward achieving
that goal. Most students enter the AIM program with a proven academic record
and a passion for a career in the industry. Students submit their applications
during the fall semester of their junior year – and if accepted into AIM, take
their first AIM course in the spring semester of their junior year. To learn
more, please visit the application information area of the AIM web site.
Q) How do I
access application materials or more information?
You can access
application material on the AIM web site. For specific inquiries regarding the
application process, please contact: Lee Hovorka at 414-288-8024 or
AIM@marquette.edu.
Q) When can I apply for admission to the AIM
program?
Students may
apply to the AIM program during the first semester of their junior year. The
AIM program is a three semester, junior-senior program. Students interested in
the AIM program must submit their application to the AIM Director in September.
Q) What are the
AIM program admission requirements?
Students
interested in the AIM program will be required to submit a formal application
to the Director of the AIM Program near the beginning of the fall semester of
their junior year. Unlike other offerings in the College of Business
Administration, the selection process will be competitive due to the limited
capacity of the program. Applicants will be evaluated by the AIM Admissions
Committee, which is composed of the Director of the program, investment company
representatives, and members of the Finance faculty. The selection of students
for the program will be made by the Committee based upon the following: 1)
overall academic performance (3.00 GPA minimum); 2) performance in courses
relevant to investment management (e.g. finance, accounting, economics,
statistics) ; 3) an application essay that articulates why you want to be in
the AIM program and why you should be selected; and 4) experience and career
objectives as demonstrated in your resume, letters of recommendation and
interview.
