MS in Finance or Masters in Finance in the USA is a 10-24 months program. widely popular among international students who want to start their careers in the field of finance. The program is meant to prepare graduates for handling corporate finance, investment banking, financial institutions, risk management, financial modeling, capital markets, behavioral finance, econometrics, investment management, etc.
According to QS Top Universities, there are 66 universities in USA offering a Masters (MS) in Finance. Some of the top universities like MIT, Columbia University, University of California Berkley are ranked at positions like #1, #22, #44 respectively. Tuition fee for MS in Finance in USA for an international student ranges from 17 lakhs to 64 lakhs.
The financial operations occupation is accepted to grow 8% from the year 2020 to 2030, adding 750,800 new jobs. According to the US Bureau of Labor Statistics, the median annual salary for MS in finance graduates is 72,250 USD. This is higher than the median annual wage for other occupations of 41,950 USD.
Top universities in usa for masters in finance
Due to its innovative academic structure, USA is a land of opportunities for international students. The students can actually opt for different faculties in finance as per preferences. Few of the world’s renowned universities are located in the USA. The top universities in usa for masters in finance are given below
|University||Programs Offered||Application Deadlines||Tuition Fee (USD)|
|Massachusetts Institute of Technology (MIT)||Master of Finance||January 8, 2023||86,300|
|Columbia University||MS in Financial Economics||January 24, 2023||66,584|
|University of California Berkeley||Master of Finance||January 19, 2023||80,486|
|University of California Los Angeles||MS in Financial Engineering||March 1, 2023||85,276|
|University of Texas at Austin||MS in Finance||January 9, 2023||53,000|
|University of Illinois Urbana Champaign||MS in Financial Engineering||January 22, 2023||64,005|
|Georgia Institute of Technology||MS in Quantitative and Computational Finance||March 15, 2023||57,969|
|University of Southern California||MS in Finance||February 1, 2023||76,932|
|Boston University||MS in Financial Management||March 1, 2023||38,500|
|Georgetown University||MS in Finance||February 3, 2023||86,522|
Why study Masters in Finance in USA?
- Usually taking about 12-18 months, Masters (MS) in Finance is popular among students who are looking for a cost-effective and quicker option to enter the workforce as a finance professional.
- Unlike MBA in USA, MS in Finance do not usually require work experience for admissions and focuses majorly on financial planning and risk management.
- The market size for the Financial Planning & Advice industry will turn into 57.8 billion USD.
- The finance sector of the USA expects to make an increase of 1.4%.
Masters in Finance in USA- Admission Process
International students prefer USA as the ultimate study-abroad destination for its academic excellence. The diversity in the land allows the students to interact with culturally diversified entities. The applicants must know the trivial things required for the admission process in MS in Finance in the USA. The admission process in USA requires a number of documents. The section below provides details on Masters in Finance admissions.
Eligibility for Masters in Finance in USA
To be eligible for MS in Finance in top universities in usa for masters in finance, an applicant is required to have a bachelors degree in a relevant field of study from a recognized university with 80% and above marks, provide scores of GRE or GMAT and submit proof of English language proficiency through IELTS, TOEFL or equivalent exam
Mentioned below are the Eligibility for MS in Finance in USA according to different universities:
|Business School||GPA Required on a 4.0 scale||TOEFL- iBT Scores||GRE Scores|
|Sloan School of Management||3.83/4 (90%-92%)||90||320|
|Haas School of Business||3.42-3.90/4 (85%-93%)||90||320|
|Anderson School of Management||3.5/4 (91%)||100||320|
|Columbia Business School||3.46/4 (90%)||90||324|
|Marshall School of Business||3.49/4 (90%)||105||315|
|McCombs School of Business||3.85/4 (92%-93%)||109||327|
|Gies College of Business||3.41/4 (90%)||103||317|
|Scheller College of Business||3.6/4 (91%)||95||322|
|McDonough School of Business||3.2/4 (87%)||100||320|
|Questrom School of Business||3.62/4 (91%)||104||330|
Masters in Finance in USA Documents Required
The required documents while applying for MS in Finance in top universities in usa for masters in finance admissions are:
- Completed online admission application form
- Evaluated academic transcripts from all educational institutions attended
- 2-3 Letters of Recommendation
- Writing Sample or Statement of Purpose
- Some universities might also ask for a video essay or question
- Scores of standardized tests to study in USA
- English proficiency test scores
- GMAT or GRE scores
- Payment of non-refundable admission application fee
Visa to Study in USA: Document Required and Process
International students are required to apply for a visa to study in USA. Upon receiving the I-20 form, required for visa application, from the university, students can complete their applications online. The F-1 Student Visa is usually offered to non-immigrants who are willing to pursue higher studies or research in the US. Also, student must the I-20 form from the enrolled university. The admitted students are not permitted to take up full-time employment, but they can work part-time jobs while studying in USA. Only 20 hours per week is permissible for working on-campus.
Masters in Finance in USA: Cost of Attendance
MS in Finance in the top universities in usa for masters in finance is an expensive course program for international students. Other than tuition fees, the students have to bear the living expenses in the cities of the USA. International students must take a detailed tour of the cost of study in USA before making a decision on choosing the right university.
Tuition Fee for Masters in Finance in USA
The annual tuition fee for Masters in Finance in USA ranges from 19,037 USD to 77,168 USD. The chart below depicts the annual tuition fee for MS in Finance at top colleges in USA:
|Top Universities||Tuition Fee (USD)||Tuition Fee (INR)|
|Massachusetts Institute of Technology (MIT)||86,300||70.91 lakhs|
|Columbia University||66,584||54.71 lakhs|
|University of California Berkeley (UC Berkeley)||80,486||66.12 lakhs|
|University of California Los Angeles (UCLA)||85,276||70.06 lakhs|
|University of Texas at Austin||53,000||43.54 lakhs|
|University of Illinois Urbana Champaign||64,005||52.58 lakhs|
|Georgia Institute of Technology (Georgia Tech)||57,969||47.62 lakhs|
|University of Southern California (USC)||76,932||63.21 lakhs|
|Boston University||38,500||31.63 lakhs|
|Georgetown University||86,522||71.08 lakhs|
Cost of Living in USA
For most international students it is quite difficult to sustain their livelihood in USA because of high costs. Students can opt to stay either inside or outside the campus premises while pursuing Masters of Finance in top universities in usa for masters in finance. The cost of living in USA majorly depends on the type of student housing in USA chosen, city of residence, etc. The estimated living expenses include:
|Categories||Annual Cost (INR)|
|Books and Supplies||69,147|
|Apartment Housing with amenities||12,83,069|
|Meal Plan for Dormitory Residents||1,86,390|
Once these documents have been submitted, the applicant will be invited for an interview process at the USA Embassy in their home country. Visa will be issued only if the applicant has cleared their interview.
Scholarships for Masters in Finance in USA
Due to huge tuition fees, most international students avail of financial aid for easy completion of their degree. The scholarships in USA for international students are as follows:
|Universities||Scholarships||Amount (in USD)|
|MIT Sloan School of Management||OGE Administered Fellowships||Partial waiver of tuition fees|
|UC Berkeley Haas School of Business||The Chengchun “Arthur” Qi Book Scholarship||1,000|
|UCLA Anderson School of Management||Inlaks Shivdasani Foundation Scholarship||Up to 100,000 USD|
|USC Marshall School of Business||Merit-based Scholarship||Partial tuition fees|
|Gies College of Business||Golden Scholarships||Partial tuition expense|
|Columbia Business School||Federal work-study program||Varies|
|Scheller College of Business||Graduate Assistantships||Monthly salary in exchange of 14hrs/week work commitment|
|McDonough School of Business||Merit-based scholarships||Varies|
|Questrom School of Business||Dean’s Scholarship program||Portion of tuition fees waiving off|
Education loans are another way of financing studies in the top universities in usa for masters in finance. Students can contact banks or private lenders for an education loan.
For more international scholarships to study in USA, Click Here.
Job Prospects after Masters in Finance in USA
The graduates of Masters (MS) in Finance in the USA can land up with lucrative job roles in the global financial sector. In this booming financial world, the finance graduates are the ones who can suggest the organization about the upcoming economic risks or the strategies to make it worthy. Job opportunities in the USA for international students are higher for its booming economic status. The finance graduates pave their paths in these global economic markets with analytical skills. The job profiles of the students recruited from the university along with its salary are given below
|Name of the university||Average Salary (INR)||Top Recruiters|
|MIT Sloan School of Management||1.49 crores||Goldman Sachs; Alphadyne Asset Management; Barclays; JP Morgan Chase & Co.|
|UC Berkeley Haas School of Business||1.07 crores||Netflix; Airbnb; EY; Morgan Stanley; Twitter; UberEasts; Nike|
|UCLA Anderson School of Management||76.83 lakhs||Sancus Capital; Citigroup; Aspen Capital; Bank of Hope; Travix|
|USC Marshall School of Business||76.83 lakhs||Reynolds Advisory Partners; Disney; East West Bank; Target Enterprises; The Spartan Group|
|McCombs School of Business||1.19 crores||Deloitte, Wells Fargo, Dimensional Fund Advisors,|
|Gies College of Business||63 lakhs||Bloomberg; KPMG; Enfusion; Nanhua; PwC|
|Columbia Business School||99.8 lakhs||A T Kearney; Microsoft; Bank of America; Oliver Wyman; Samsung|
|Scheller College of Business||73.90 lakhs||UBS; Millenium Advisors; Blackrock; Bank of America; Invesco|
|McDonough School of Business||93.17 lakhs||Gallup; American Express; Accenture; Citi; M&T Bank|
|Questrom School of Business||63 lakhs||Haitong Securities; Citic securities; Deutsche Bank; Fidelity|
Apart from these on-campus placements, the students can also update their resumes on online job portals like LinkedIn, Indeed, Splashfind, CareerBuilder.com, ZipRecruiter and many more. These job search engines will help the graduates to find out the best available job profiles in the finance sector.
There are a number of companies that hire master’s in finance graduates for full-time positions and internships. A few of the top recruiters in USA of finance graduates with the minimum and maximum average salary packages have been depicted in the table below.
With a projected growth of 7% from 2018-2028, Masters in Finance in top universities in usa for masters in finance is an exceptional program for anyone who wants to have a career in finance. It is a meticulous program focusing both on practical and theoretical knowledge in finance. Interested students can explore their options with a Masters in Finance with equally incredible returns.