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Statement of Purpose Sample for MS in Finance
Out of the several memories that house my mind from my adolescent years, one that easily stands out is of the time when CNBC TV18 used to be a seemingly permanent channel on our television set. It’s an Indian business news channel and captivated my father like nothing else. As I sat down to watch it with him, I was quickly fascinated with the intriguing graphs, stocks, and numbers displayed on the screen. While back then, I could not grasp the entire meaning; nevertheless, I was overpowered by a sense of curiosity. I grew eager to comprehend the significance of investments, and how one major economic decision sets in motion a series of events that subsequently impacts other smaller economies. As my interest regarding stock markets piqued, I invested my time in delving into financial resources such as newspapers and books, and my experiences have now put me on the present path where I seek to earn a Master’s degree in Finance from xx University.
For as long as I can remember, every significant life decision of mine has been analytically based on various criteria, and this analysis was conducted with the help of concepts such as utility and opportunity costs, which form the crux of Economics. Even before I knew that these concepts exist as disciplines in the subject, I regularly employed them to consistently inch closer to sound decisions. Therefore, based on such observations and experiences, Bachelor of Arts (Major in Economics) from Rutgers University seemed to be tailor-made for me. My rigorous SAT preparation fructified in 2014, and it is indeed a humbling accomplishment to be chosen for this extremely competitive course, where several students yearn to find a place. The classes appeared to be a Eureka moment as I reveled in the joy of finally finding answers to the questions that had kept my mind engrossed all these years.
My college projects played an instrumental role in helping me develop a mastery over the field and acclimated me to a practical learning environment. Between September 2016 and December 2016, my team collaborated with a small-scale business owner, who owned a candy confectionery store in Somerville, NJ. I closely grasped the functioning of his business and identified innovative ways to increase foot traffic within the store. To achieve this, we outlined elaborate growth plans for the client to optimally increase profitability and market share within the local confectionery market. The plan estimated to increase revenues by $120,000, with a 30% gross margin within two years of the policy being successfully implemented. The success of the project lies in the fact that we received several accolades from the owner and he enthusiastically implemented our idea. Another project that coincided with this one was working with the owner of a dancing academy in Wall, NJ. It was aimed at developing a five-year marketing plan to yield optimum results and boost the revenue. Subsequently, while working in a team of xx on a project titled GoPro Financial Analysis, I analyzed the company’s business model, their financial statements, and examined the challenges associated with the Camera appliances industry. These projects have refined my skills in domains such as market research, financial analysis, financial modeling, and client relationship management, which will hold me in good stead throughout the Master’s course. They have also bolstered my ability to flourish during group projects and make way for diverse opinions while working in a team.
While in college, I ensured to attain an equilibrium between rigorous academics and extensive extracurricular activities. To this end, I contributed to the Rutgers Entrepreneurship Society, which carries the distinction of being a sustainable and supportive startup community of the University. I regularly sought growth opportunities and partook in workshops conducted by professors and entrepreneurs, which polished essential attributes such as business plan and marketing plan development.
I also feel compelled to mention my association with the International Student Association between 2014-2018. My association with them initiated in 2014 when I joined them as a Volunteer. For the session 2015-2017, I progressed to the position of Public Relations Chair and supervised their outreach and marketing activities. My relentless efforts culminated when the student participation was enhanced by a staggering 400% over these two years. The most significant accomplishment was eventually being elected as the Vice President in xx, and I spearheaded an xx member team. I was responsible for ensuring the successful execution of the events, along with efficaciously coordinating with Rutgers Global, an international student/scholar services group, and helped organize multiple cultural workshops for incoming international students at Rutgers University.
Both my internships deserve their share of credit for motivating my decision to apply to the Masters in Finance course. While working as an Investment Consultant Intern at Ishwar & Company in June 2016, I was tasked with extending consulting support for as many as 200 clients. I was also at the forefront of performing comprehensive market research and monitored stocks at the Bombay Stock Exchange and Indian National Stock Exchange. Nothing comes close to the adrenaline rush that pulsed through me when I found myself engaged in projects that I had always wanted to be a part of.
As one learning paved the path for another, I joined Ventura Securities in June 2017 as an Equity Research Intern. Here, I augmented my subject proficiency by compiling, analyzing, and generating reports on the quarterly financial results of over 100 companies in the Indian stock market. These experiences enabled me to develop a stronghold over concepts such as financial statement analysis, equity research report writing, financial modeling, financial analytics, industry research and peer comparisons, client relationship management, and financial bookkeeping. This internship left a lasting impact on me and influenced me to pursue a certification in Financial Economics from Rutgers University. Therefore, these experiences have provided me an opportunity to understand the nuances of capital markets and honed my analytical and decision-making ability, required to assist decision making during the paradigm shifts in business today.
My professional journey inaugurated at Kaytech Coverage Solutions in Boston, where I worked between September 2018-September 2019, as a Market Research & Pricing Analyst. The job constantly kept me on my toes, and I was entrusted with analyzing competitor pricing, market share, margins, and consumer engagement by various quantitative and qualitative methods. I also garnered practical insights by developing statistical forecasts to prepare reports examining the impact of pricing strategies, the effect on margins, and profitability. A particularly noteworthy experience vis-a-vis my Master’s course, it enabled me to gain insights about the telecommunications industry, develop statistical models and forecasts to understand and show the financial impacts of certain pricing strategies on margins and profitability for the firm.
During the MS in Finance, I seek to specialize in Asset Management courses. Additionally, I am also drawn towards investment management electives such as Investment Analysis & Portfolio Management, Financial Modelling, Financial Analysis and Valuation, Forecasting & Risk Analysis. I am confident that these courses will arm me with the knowledge required to thrive in my academic and professional career ahead. My inclination towards the domain is also reflected through the fact that I am presently preparing for the CFA Level 1 examination, slated to take place in June 2020.
Post MS, I envision pursuing an enriching career in the sell side of equity research. This will allow me to narrow down my focus towards a few specific companies, which in turn, would provide a gateway to comprehend the dynamic and multifaceted nature of equity research. A few years down the lane, assisted by my experiential learning, I seek to reach a position where I can transition into the buy-side of equity research while working as a Portfolio Manager with companies such as xx and yy.
Conclusively, the Master’s program will capacitate me to make financially sound decisions by conducting a computative analysis of the global economic trends. I am in the quest for the next step-up in academics, and xx University appears to be the most suitable platform to expedite my career growth. I am particularly interested in collaborating with Professor xx and Professor yy, and interactions with them on xx and yy, respectively, will quench my intellectual curiosity. Therefore, I implore you to positively review my application.
