Howd

Princeton MFin is the most prestigious and selective program of its kind.  They only accepted 4.5% this year; most of the students went to top schools, got 3.8+ GPAs in quant majors, and a lot of them have great work experience too.  MIT leans very young; average work experinece is only like 1 year, so your friend has no shot there.  Princeton is open to older candidates, but 40 is pushing it.