Masters(MS) in Finance in USA: Top Universities, Eligibility, Fees, Scholarships, Jobs & Salaries

Masters in Finance in USA: Top Colleges, Fees, Funding, Jobs, Scholarships

MS in Finance or Masters in Finance in USA is a 1-2 year program.  widely popular among international students who want to start their career 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 Ranking Universities for Masters in Finance in USA

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-ranking universities for MS in Finance in USA 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 USA, 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 USA admissions are:

  • Completed online admission application form
  • Evaluated academic transcripts from all educational institutions attended
  • 2-3 Letters of Recommendation  
  • Resume
  • 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

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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.

Also Check: Reasons for USA Visa Rejection!

Masters in Finance in USA: Cost of Attendance

MS in Finance in the USA 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 USA. 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
Food 4.85,415
Apartment Housing with amenities 12,83,069
Dormitory Housing 5,68,699-8,92,984
Meal Plan for Dormitory Residents 1,86,390
Miscellaneous 4,97,093

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 USA. 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. 

Is it better to do Masters in Finance in USA or UK?

The following table depicts the basic differences between Masters in Finance in USA and Masters in Finance in UK:

Parameter Masters in Finance in USA Masters in Finance in UK
Duration 12-18 months 1 year
Average Tuition Fees 38,000-87,000 USD (30.98-70.94 lakhs INR) 23,000-47,000 GBP (23.25--47.51 lakhs INR)
Monthly Cost of Living 2,448 USD (2 lakhs INR) 1,120 GBP (1.11 lakhs INR)
Percentage Required 85-93% 75-85%
English Language Proficiency Tests TOEFL: 100+ | IELTS: 7.0 IELTS: 6.5-7.0 | TOEFL: 90-100
Accepted Entrance Exam GMAT: 680 | GRE: 325 GMAT: 680 | GRE: 325
Average Salary 82,000 USD (66.86 lakhs INR) 80,000 GBP (80.88 lakhs INR)

With a projected growth of 7% from 2018-2028, Masters in Finance in USA 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. 

FAQs

Ques. What are the best universities offering Masters in Finance in USA?

Ans. Some of the top universities in USA offering MS in Finance are MIT, UC Berkeley, UCLA, Columbia University, etc. 

Ques. What is the eligibility to get admission to Masters in Finance in USA?

Ans. To be eligible for a MS in Finance in USA, an applicant is required to have an undergraduate degree in a related discipline from a recognized university or college. International students are also required to provide proof of English language proficiency through one of the standardized tests of TOEFL or IELTS.

Ques. Do universities in USA require scores of GRE or GMAT for admissions to MS in Finance?

Ans. Yes. International students are required to provide scores of either GRE or GMAT. Each university has its own criteria or minimum requirements for these standardized exams to study in USA. 

Ques. What is the duration of Masters in Finance in USA?

Ans. The MS (Masters) in Finance in USA is a program with a duration of 10-18 months at universities in USA.

Ques. What are the tuition fees for a MS in Finance in USA?

Ans. The tuition fees for Masters in Finance in USA range from 19,000- 80,000 USD annually. 

Ques. Are there scholarships available for international students pursuing MS in Finance in USA?

Ans. Yes. There are a number of scholarships available for international students to study in USA. These scholarships are awarded by the universities, USA government, respective home country government and several private agencies and organizations.

Ques. What are the job opportunities in USA after MS in Finance?

Ans. USA offers a number of jobs available after Masters in Finance in USA. Average annual salary of MS in finance graduates ranges from 80,000- 160,000 USD per year. 

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