“I didn’t double major, and I have no business experience. I’m worried that I won’t be able to keep up with the coursework.” This is a common concern for many STEM students considering a switch to business. In fact, STEM students have a significant edge when applying to finance programs. For instance, U.S. programs in financial engineering and financial mathematics tend to favor applicants with quantitative analysis skills. CheersYou（清柚教育） has put together a very detailed analysis—if you’re interested, keep reading!
Cross-disciplinary applications mainly depend on GPA and soft background. For career changers, prerequisite courses and relevant internship experience are particularly important. Take U.S. finance master’s requirements as an example:
Prerequisite Courses:
U.S. business curricula typically include seven required courses: three economics courses (macroeconomics, microeconomics, and econometrics), three math courses (calculus, linear algebra, and probability theory), and one statistics course. The specific prerequisites vary by school; some require macro- and microeconomics or just one of the two.
Because STEM students already have a foundation in math and statistics, applying to a finance master’s is relatively straightforward—they only need to add three economics courses. Moreover, business courses are generally less difficult than STEM courses, so there’s no need to worry about falling behind. However, if you’re planning to switch fields and haven’t completed the prerequisites, you should make up these courses as soon as possible. You can take them as electives on campus or through online platforms like Coursera to fill any gaps in your background.
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Internship Experience:
Beyond required coursework, your own capabilities—especially practical experience—are crucial. U.S. finance education is employment-oriented and places a high value on hands-on training. While some universities don’t strictly require work experience, having it recognized will significantly boost your application.
During winter and summer breaks, try to intern at well-known domestic or international investment banks, banks, Big Name companies, or FMCG firms. (Don’t forget to ask your supervisor for a recommendation letter before you leave.) With internship experience, your application materials, such as your essays, will be richer and more competitive.
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Since every student’s undergraduate institution, GPA, language scores, and other factors differ, CheersYou（清柚教育） here uses the U.S. as an example to briefly outline the requirements for different school tiers. If you want to know more about your specific situation, add CheersYou（清柚教育） on WeChat~
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There are many schools in the U.S. offering finance-related programs, usually divided into four tiers. Naturally, requirements vary by tier—the higher the tier, the stricter the requirements.
Tier 1:
Princeton University, Columbia University, and MIT. These schools rank highly both in the field and overall, making them very difficult to get into.
1. Educational Background:
Schools in this tier place great importance on your undergraduate background. Graduates from 985/211 universities have a better chance than those from non-top-tier schools, and some, like Princeton, almost exclusively admit students from top Chinese universities like Tsinghua, Peking, Fudan, and Shanghai Jiao Tong. So the application difficulty is extremely high. Additionally, a background in a quantitative field is preferred—mathematics, physics, statistics, computer science, economics, etc.
2. Work and Internship Experience:
Work experience is not strictly required by these schools, but having it is a plus. Even fresh graduates with substantial internship experience stand a chance. So be sure to secure internships at prestigious foreign banks, investment firms, or securities companies during your breaks. CheersYou（清柚教育） has helped many students land internships at leading companies and obtain official recommendation letters—feel free to contact a CheersYou（清柚教育） consultant to learn more.
3. Hard Criteria:
TOEFL 110+, IELTS 7.5 or even 8+
GMAT 750+ / GRE 330+
GPA 3.6+
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Tier 2:
WUSTL, BU, Vanderbilt, Brandeis, JHU, Rochester, University of Texas at Austin. Because the Tier 1 requirements are so demanding, many applicants turn to this tier, making it the most popular and competitive.
1. Educational Background:
Schools in this tier do not have strict requirements for your undergraduate institution, but they do look for a certain quantitative background, especially in mathematics. They are less concerned with prior finance knowledge.
2. Work or Internship Experience:
Although some schools don’t set a hard requirement for work experience, it’s still highly recommended to pursue internships at foreign banks (e.g., HSBC, Deutsche Bank), Big Four accounting firms (KPMG, EY), or the finance departments of Fortune 500 companies. Roles in risk management, investment, fund hedging, or stock trading are ideal. Aim for 2–3 internship experiences at well-known firms—this can only benefit your application.
3. Hard Criteria:
Most schools accept both GMAT and GRE, but some, like Vanderbilt, only accept GMAT. Aim for GMAT 720+ or GRE 320+.
Some schools do not accept IELTS; TOEFL 105+ is expected.
GPA 3.4+
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Tier 3:
UIUC, Syracuse University, University of Maryland–College Park, Temple University, Case Western Reserve University, Tulane University. These schools admit a large number of students each year and attract many applicants, making competition relatively less intense.
1. Educational Background:
Compared with the first two tiers, schools in this tier are an excellent choice for career changers. They are not strict about your undergraduate institution or major. Although they claim to prefer a quantitative background, they admit many business majors (finance, economics, international trade, accounting) and even English majors. They accept GMAT or GRE; the average GMAT score among admitted students is around 650. They accept TOEFL or IELTS; a TOEFL score above 100 is expected.
2. Work or Internship Experience:
No work or internship experience is required, but having it will give you an edge. The recommended internship organizations are the same as those in Tier 2. This tier is more suitable for fresh graduates.
3. Hard Criteria:
TOEFL 100+
GMAT 700+, GRE 315+, GPA 3.3+. For example, University of Maryland–College Park accepts GMAT or GRE (average GMAT 650) and TOEFL or IELTS (TOEFL 100+).
Tier 4:
Fordham, Pepperdine University, Northeastern University, American University, University of Alabama, University of Arizona, etc. These schools have relatively low requirements and are less difficult to get into.
1. Educational Background:
Requirements for your undergraduate institution or major are lax; even humanities majors may be accepted.
2. Work or Internship Experience:
No hard requirement for work or internship experience. However, having 1–2 internships at well-known domestic companies in relevant fields will be a plus; the firms listed in Tier 2 are good references.
3. Hard Criteria:
TOEFL 100; some schools particularly require scores above 100. However, if you score above 90, you can still apply to some schools in this tier.
GMAT 650; a GRE score above 310 is even better.
In short, students don’t need to worry too much about whether they’ll adapt after switching to a business program—worrying solves nothing. Instead, you should focus on whether you have a clear timeline for your study-abroad application and what you need to do right now. For instance: Can you raise your GPA further? Can you add more internship experience? Can you secure an internship at a prestigious firm? Have you achieved your target language score? And have you settled on a clear direction for your country and school choices?
CheersYou（清柚教育） has handled many outstanding cases of STEM students successfully switching to business. If you’d like to learn more about students’ majors, GPAs, GRE scores, and other details, feel free to contact a CheersYou（清柚教育） consultant~
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