About the Master of Science in Investment Management (MSIM) Program

Effective October 2012, after 12 successful years, Boston University School of Management’s MSIM program is no longer accepting new applicants, and will graduate its last class in 2013. Interested students are encouraged to review Boston University School of Management’s other graduate program offerings. Please contact the Graduate Admissions team or MSIM Faculty Director Don Smith at donsmith@bu.edu with any questions or concerns.

The MSIM program was designed to meet the needs of today’s investment management professionals for more sophisticated management practices and professional training. Graduates of the MSIM program gain advanced analytical skills and a practical understanding beyond that offered in general business programs.

Learning Goals

MSIM provides graduate-level education in finance and investments, quantitative methods, risk management, and financial statement analysis.  MSIM is designed to provide students with training in advanced investment management techniques to enhance their career advancement in jobs requiring investment decision-making.

Specifically, the learning goals of Boston University’s MSIM program are as follows:

  • We develop graduates with a conceptual understanding of basic investment tools
  • We develop graduates who are to conduct rigorous investment analysis and effectively communicate an investment thesis
  • We develop graduates with a conceptual understanding of investment techniques in derivatives, fixed income, corporate finance and risk management
  • We develop graduates who can effectively explore and solve a complicated investment management problem, and effectively communicate the solution

CFA Program Partner®

MSIM was the first graduate program in the United States to be named a CFA Program Partner. As such, it provides the background necessary for preparing for the CFA® exams.

“Taking the CFA® exam really emphasized how much you learn in the first semester of the MSIM program. Having taken the exam previously, I felt I was far better prepared this time around.”
-Alec Noble, MSIM’09

“MSIM was hugely instrumental for me earning the CFA Charter® because it got me started and gave me the tools to finish.” -Peder Johnson, CFA

World-Class Faculty and Cutting Edge Research

MSIM courses are taught by faculty members who have extensive experience with real-life investments as well as teaching investments. This blend of real-world knowledge, the art of teaching, and cutting-edge research keep them current on market trends, new technologies, and best practices.

Faculty who have taught with the MSIM program include:

Zvi BodieZvi Bodie
Norman and Adele Barron Professor of Management
ChadwickTheodoreTheodore Chadwick
Senior Lecturer, Finance and MSIM Program
DetempleJeromeJerome B. Detemple
Professor, Finance, MSIM, and MSMF Programs/Everett W. Lord Distinguished Faculty Scholar
GadenneFrancoisFrancois Gadenne
Lecturer, Finance and MSIM Program
GriswoldDavidDavid Griswold
Senior Lecturer, Finance and MSIM Program
Moshe HagigiMoshe Hagigi
Professor
nophotoHossein Kazemi
Professor
PekozErolErol Pekoz
Professor
z-justin-ren-78x78Z. Justin Ren
Associate Professor/Dean’s Research Fellow
RindisbacherMarcelMarcel Rindisbacher
Chairman, Finance/Associate Professor, Finance and MSMF Program
RobertsMarkMark E. Roberts
Executive-in-Residence/Senior Lecturer, Finance and MSIM Program
SalingerMichaelMichael A. Salinger
Jacqueline J. and Arthur S. Bahr Professorship in Management
SmithDonaldDonald J. Smith
Associate Professor, Finance and MSIM Program, Interim Faculty Director, MSIM Program
Scott StewartScott Stewart
Former Research Associate Professor, Executive-in-Residence, and Faculty Director, MSIM Program
pirooz-vakiliPirooz Vakili
Associate Professor
nophotoAvinash Verma
Lecturer
WilliamsMarkMark T. Williams
Executive-in-Residence/Master Lecturer, Finance and MSIM Program
ZagorskyJayJay L. Zagorsky
Adjunct Assistant Professor

Curriculum

The curriculum, developed and taught by MSIM faculty and the MSIM advisory board, integrates state-of-the-art analytical methods and practical cases with powerful online communication tools. Students learn the theoretical underpinnings first, followed by practical applications taught in a custom case format by faculty with extensive real-world investment experience. The program also provides the background necessary for preparing for the CFA® exams. All courses are required and unique to the MSIM program and cover 38 credits in 17 months, including two residence weeks.

The two residence weeks are an essential part of the MSIM program. They bookend the curriculum, taking place in the first week of the program (in January) and the final week (in May). Both residence weeks are mandatory.

During Residence Week 1, students:

  • Analyze a product’s revenues and cost and find profit-maximizing quantities and prices.
  • Distinguish different market structures: competition, monopoly, and oligopoly.
  • Measure macroeconomic performance (including cross-country comparisons).
  • Identify the determinants of long-run growth.
  • Understand the causes of short-run economic fluctuations and business cycles.
  • Use government monetary and fiscal policies to stabilize the economy.
  • Analyze international trade and capital flows.

The week also includes an introduction to business accounting including accounting theory, T accounts, and a review of financial statements. Basic financial accounting for the Financial Statement Analysis course will also be covered.

During Residence Week 2, students cover Integrated Investment Management, supporting the direct application of the knowledge the program imparts. This course serves as the curriculum’s capstone. It provides an opportunity for students to present their final case proposals to guest practitioners, review equity fund performance, and discuss special topics including ethics and alternatives.

Scheduled for the final week of the program, this residence week draws on each of the topics covered within the other MSIM courses. A number of guest speakers from the investment world are a part of the week’s sessions.

The Student Investment Fund

Boston University’s live student equity portfolio provides MSIM students the opportunity to implement stock research and practice management of actual funds.

An integral component of the program, the portfolio offers a working laboratory in which to experience:

  • Equity analysis
  • Portfolio allocation
  • Risk management
  • Performance measurement and attribution

Fund management utilizes several tools, including BARRA (portfolio risk), Bloomberg, Mergent (Edgar reports, 10k’s, spreadsheet financials, etc.), Capital IQ (fundamental data), FactSet, and Investext Plus (Street research). A proprietary website supports the fund. The site includes security and industry reports, fund characteristics and performance statistics. It is also used for online discussion of investment recommendations.

Performance for the fund has been strong with value-added generated by many stock picks.

Our Students

January  2012 Entering Class
Number of Entrants 22
Male/Female 82% / 18%
Average Years Work Experience 5.3
Average GMAT 603
GMAT 80% Range 480 – 710
GPA 3.2

Careers

Skills learned in the MSIM program are a stepping stone to career advancement. Positions held by graduates include:

  • Equity Capital Markets Trader
  • Senior Director
  • Institutional Research & Academic Assessment Associate
  • Global High Grade Credit Research
  • Municipal Bond Analyst
  • Investment Operations Manager
  • Senior Portfolio Analyst
  • Investment Officer
  • Investment Specialist
  • Equity Analyst
  • Credit Analyst
  • Vice President – Investment Consulting
  • Research Analyst
  • Portfolio Manager
  • Vice President and Portfolio Manager
  • Financial Representative

Our graduates work for companies including:

  • Putnam Investments
  • Fidelity Investments
  • Credit Suisse First Boston
  • Appleton Partners
  • SCS Financial
  • Fidelity Investments
  • First Financial Trust
  • Charles Schwab
  • Evergreen Investments
  • State Street
  • BNY Mellon Asset Management
  • Fidelity Investments
  • Chandler Asset Management
  • F.L. Putnam Investment Management
  • Fidelity Investments
  • MFS Investment Management
  • Standishmellon Asset Management
  • Clough Capital