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Master of Financial Management (MFM)

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Master of Financial Management (MFM)

The Master of Financial Management (MFM) degree program uses an integrative approach that emphasizes real-world application of knowledge and problem-solving strategies and techniques. Sustainability and organizational decision making are incorporated into and across courses. Students customize this degree by selecting an area of specialization to develop skills best suited to their academic and career goals. The MFM is backed by Drake University’s full resources and reputation.

Admission Requirements: (previous degrees, exams, etc)

Master of Financial Management applicants must meet the following admission requirements.

  • Graduate Admission Application: Applications are available from the Drake Office of Graduate Admission, the Graduate Programs Office of the College of Business & Public Administration or you may apply on-line at .
  • Application Fee of $25.00. Applicants who have previously paid the fee are not required to do so again.

On-line submissions require electronic fee payment that will be refunded if an application fee was paid for a previous Drake program.

  • Official transcripts for ALL undergraduate and graduate coursework from EVERY institution attended (even if a degree was not earned).
  • Current professional resume.
  • Personal essay: A personal essay no longer than one page should explain the candidate’s reason(s) for pursuing the MBA degree. Examples of leadership background and experience should be included.
  • Submission of two (2) letters of recommendation.
  • Grade Point Average Criteria: Successful candidates for admission typically have the following minimum graduate point average. Students who do not meet these GPA minimums may contact the Graduate Programs Office of the College of Business and Public Administration for additional information.
  • Undergraduate GPA = 3.00 (upper division and cumulative) and
  • Graduate GPA = 3.00 (cumulative)
  • Test requirement: Applicants must submit official GMAT results. Successful candidates for admission typically have a minimum score of 500. For GMAT testing information, go to:
  • TOEFL exam: International candidates must submit TOEFL results. Minimum acceptable TOELF score is 213 on the computer-based examination, 550 on the paper-based examination or 79-80 on the internet based test.
  • Application deadlines: To be eligible for consideration, applications must be received by the following deadlines.

Fall admission July 15
Spring admission December 1
Summer admission April 15

Graduation Requirements:

Number of Credit Hours required:

  • Thirty-three to thirty-six hours of credit are required for completion based upon prior academic experience.
  • Required Courses:
    • Foundation Courses: Building the Necessary Knowledge Base (3 Hours)

This requirement can be fulfilled with recent completion of Principles of Accounting I and II and Corporate Finance at the undergraduate level.

MBA 242: Evaluating Organizational Performance

  • General Core: Quantitative, Financial, & Ethical Base (9 Hours)

MFM 212: Data Analysis for Decision Making
MFM 250: Corporate Governance
MFM 253: Enhancing Firm Value

  • Financial Management Core: Financial Markets, Assets, and Information (15 Hours)

ACCT 280: Financial Reporting & Statement Analysis
ECON 280: Business, Government, & Global Economy
FIN 280: Investment Analysis & Portfolio Management
FIN 281: Regulatory Environment for Financial Institutions
FIN 284: Fixed Income Markets and Related Derivatives

  • Areas of Specialization/Electives

Each student must choose three courses from a group of electives designed to focus on areas of specialization. The areas of specialization include:

  • Financial Asset Management
  • Financial Institutions Management

Additional elective options are also available.

Other Requirements (experiential, exams, thesis, etc.)

BUS 205: Leadership Essentials (non-credit workshop)

Each student must complete this elite training experience during the first semester of enrollment. This workshop focuses on communication and leadership skills. The workshop offers a competitive edge by providing you with the skills to consistently lead, influence and inform others. A handful of workshops are offered each term. Students meet over two days, Friday 1:00-8:00 p.m. and Saturday 8:00 a.m. to 4:00 p.m.

  • Any limitations and special policies (eg., gpa requirement, or requirements that students take certain courses at Drake):
  • GPA: Maintain a 3.0 or higher
  • Courses must be completed with a “C” or better; no more than two “C” grades may be received; the cumulative grade point, must be a 3.0 or better.
  • 9 hours of graduate work may be transferred in from another AACSB accredited university.
  • Transfer courses must be advisor approved.
  • Courses transferred in are transferred as TR (no grade) and do not affect the Drake GPA.
  • Transferred coursework must be at a B level or better.
  • Transfer credits earned before admission are counted on the following scale:
    • Courses taken 0-5 years before degree completion may be transferred in as full credit.
    • Courses taken 6-10 years before degree completion may be transferred in as ½ credit.
    • Courses over 10 years old are not accepted.
    • Courses that are accepted must relate to the program of study.


  • Students may complete the MFM program on either a part-time or full-time basis. Courses, however, are offered only in evening and weekend formats. There are no graduate level daytime courses. Students wishing to be enrolled on a full-time basis must be aware that course sequencing is such that full-time status may not be possible each term of enrollment.
  • Students must be admitted to the MFM program to enroll in graduate courses.
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Admission Calendar

Apply Now - Application for Fall 2016 & Fall 2017

Visit Now - Campus visits offered Monday-Friday

August 29 - First day of Fall 2016 semester

October 1 - FAFSA available for Fall 2017

October 10 - Campus Preview Day

Mid-October - Application & scholarship review begins for Fall 2017 students

November 14 - Campus Preview Day