The Financial Markets Institute (FMI) provides comprehensive training to a select group of highly motivated finance and accounting students at Broad. Scholars are offered invaluable professional opportunities, such as co-managing a multi-million dollar investment fund and visiting financial services firms across the United States. Based on student preparation, the institute provides employers with the confidence that FMI Scholars have the technical and soft skills necessary to make immediate contributions to their firms.
After joining the institute, student scholars pursue a challenging academic program aligned with their professional interests. They are also actively mentored by industry professionals and receive training in resume writing, interviewing, networking and modeling.
Scholars leverage these experiences along with relationships fostered by the institute to secure summer internships and a full-time position, typically in investment banking, sales and trading, research or asset management. The institute also makes it easy for employers to hire students by offering the convenience of one-stop shopping.
The number of FMI Scholars typically varies from 25-30. Admission generally occurs early in a student’s sophomore year. On average, one-half of the students are members of the Honors College at Michigan State University as well as the Broad College of Business.
Most of the students have selected finance as their major; a few are majoring in accounting. Several are augmenting their studies with course work in economics, international business, a foreign language, computer science or CMSE (computational mathematics, science and engineering).
All of the students are leaders in organizations serving the university or the greater community, including student government, finance associations, consulting clubs, tutoring groups, and business and social fraternities.
View the PDF below for a full detailed roster of scholars.
The institute’s faculty director Andrei Simonov works closely with each FMI Scholar to construct a curricular plan that best meets the student’s academic and career interests. Depending on the specific nature of the financial markets career targeted, the mix of courses a student chooses can vary.
Students should plan to complete courses that build the strong quantitative skills that are important in all financial markets careers. Offerings in calculus, intermediate-level accounting and financial modeling are required. Additionally, students may elect to participate in a security analysis class that manages a multimillion dollar Student Investment Fund.
Students interested in pursuing careers as portfolio managers and investment advisors are strongly encouraged to consider the Chartered Financial Analyst (CFA) designation.
The Broad College of Business is a CFA Program Partner. For more information on the many benefits of this program, including scholarships to help cover the enrollment and registration costs associated with the first exam, visit the Department of Finance page on the CFA program.
FMI Scholars enjoy many benefits, among them being:
The institute accepts applications once each fall and spring academic semester. For information on applying to become an FMI Scholar, please email the FMI.
Admission to the Financial Markets Institute is limited to a small group of select students who have been or are in the process of being admitted to the Broad College of Business. Admission is based on an application process separate from the college’s general application procedures. Finance or accounting is the major of choice for most applicants. Students from other MSU colleges who are also members of the Honors College may be considered.
Admissions decisions are based on several key factors including:
Based on industry expectations, the institute is targeting applicants with a minimum cumulative grade-point average of 3.5 and strong quantitative skills. Students with applications that meet the above criteria will be invited to take a markets and accounting skills written assessment. Those with solid performance on that evaluation will be interviewed initially by the institute’s admissions committee for an opportunity to complete a final interview with a team of current FMI Scholars.
FMI Scholars frequently travel as a group to major financial centers to meet with potential employers, learn about career specifics at each firm and begin the networking process that can lead to inclusion in internship and full-time employment recruiting.
Employers who wish to engage with the FMI and recruit our scholar talent can contact us via email.
We are pleased to have the following organizations among the firms which have recently hired our students for post-graduation positions or internships.
The FMI receives strong support from Michigan State and Broad College alumni and friends. Members of the FMI Advisory Board support the institute by advising faculty and staff on knowledge and skill requirements for industry careers, serving as mentors to scholars, introducing the institute to possible new employers and aiding with fundraising. Members of the 2019 – 2020 advisory board executive committee include Chrissy Svejnar (Ares Management), Jeffrey Kania (Citigroup), Ted Neely (Goldman Sachs) and Brian Van Elslander (Wells Fargo).
MSU and Broad College alumni and friends support the institute in many ways:
If you are interested in interacting with students, please email the FMI.
The Financial Markets Institute is funded through private support. The institute is actively seeking contributions to its endowment fund to insure that the opportunities available for today’s students will remain options for future ones. To assure the institute’s long-term viability, consider providing financial support within the university’s secure online gift system [Fund name: Financial Markets Institute (FMI) Fund]. You can also send a check payable to “Michigan State University” to:
Business College Complex
632 Bogue St Rm N505
East Lansing, MI 48824
For more information about giving to FMI or the Broad College, please contact the college’s Development Office at (517) 353-4340.
The FMI Association is a network of Broad College/MSU alumni and friends working in financial services. Included are present and past members of the FMI Advisory Board and all former FMI Scholars. Upon request, members assist current scholars by answering career and industry questions, offering interview preparation, assisting with road show presentations, etc. The institute is pleased to share job vacancies with appropriate member segments. Please email the FMI to arrange. The institute encourages members to connect with each other to share information, explore business opportunities, etc.
If you have previously affiliated with the FMI Association and would like changes made to your listing and/or a current copy of the complete membership roster, email the FMI.
If you are interested in affiliating with the FMI Association, please email the FMI for more information.
The first step in preparing for a career in the financial services industry is to understand it. Knowing the different paths possible, networking with people in the industry, building knowledge of the markets and how they operate, and preparing for the interview process are essential to success.