From paying day-to-day expenses to investing in cryptocurrency– without finance, the world literally cannot function. Finance is one of the booming sectors around the globe, as per the Bureau of Labor Statistics the sector is expected to grow by 5% over the next 10 years. With growing FinTech, finance has become one of the trending courses in USA. Whether it is bachelors, masters, PhD or diploma-some of the best finance universities are located in the USA and offer some of the most unique finance courses with an incredible ROI!
This Blog Includes:
- Why Study Finance in USA?
- Best Universities for Finance in USA
- Entry Requirements
- Application Process
- Cost of Studying and Living in USA
Why Study Finance in USA?
The USA is known for its top-class education system, multicultural environment and home to IVY league universities. Economics, statistics, investments, stock markets and banking are a few of the popular subjects you can major in while studying at the best finance universities in the USA. We have noted down the reasons which can convince you to study finance in the USA.
- Biggest Economy– The USA is the biggest economy in the world with a deep economic history. Studying finance here can prove to be very beneficial for international students.
- Advanced Technology– When the world was discovering grains, the USA already had its first Mcdonald’s outlet. We don’t know how true that is, but yes, the research in the best finance universities in the USA is excellent and helps develop newer technologies.
- International Strength– More than 1 million international students come to the USA with a dream to study in top universities (Harvard, MIT, Yale, Brown, etc) and build a career in finance.
- Dollar Supremacy– When you study in the USA, you spend, earn, invest in dollars. You will get a chance to understand the currency which is traded in the world.
Did you know Only 1/3rd of the worldwide population understand basic financial concepts? This means they hire financial help which tells us how much in-demand study finance professionals are!
Best Universities for Finance in USA
According to the QS World Universities Ranking 2021, here are the 10 best finance universities in the USA:
- Massachusetts University of Technology
- Stanford University
- Princeton University
- University of Pennsylvania
- University of California, Berkeley
- University of Chicago
- New York University
- Columbia University
- Yale University
- University of California, Los Angeles
Massachusetts University of Technology
A leading USA University that makes it to the top of every university ranking list is the Massachusetts University of Technology. The Sloan School of Management at MIT offers the most diverse finance courses. You can choose to pursue finance as your major in the undergraduate study and then go on to study M.Finance (12-18 months) and MBA in Finance for 2 years. One of the best finance universities in the world, MIT is known for producing CEOs and entrepreneurs that run the world today!
Situated in the laps of Silicon Valley, Stanford University is considered one of the best finance universities in the USA. The Stanford Business School allows you to either major in finance for your undergraduate education or studies MBA in Finance, MSx (Express Masters- 1 year) in Financial Career Modelling and PhD in Finance.
Sharing space in the Ivy League universities, Princeton is known for its diverse finance education. While the undergraduate courses concentrate on asset pricing, portfolio management, corporate financing and banking regulation, the famous MFin program dives deeper into the fundamental tools required to perform major financial functions like detecting financial risk, creating a payment gateway, etc.
Also Read: One-Year Masters Programs in USA
University of Pennsylvania
The Wharton Business School at the University of Pennsylvania is the hub of financial education. The flexibility of the undergraduate program allows international students to major in finance while discovering other fields of study as well. The graduate programs of an MBA and PhD in finance allow a broader analysis of financial concepts. Elon Musk, the world’s richest man, is an alumnus of the University of Pennsylvania.
University of California, Berkeley
What sets the University of California, Berkeley apart from the other best finance universities in the USA is the Masters of Financial Engineering program. The curriculum is designed to give the students practical experience with internships and the application of financial theories through the Applied Financial Program. It is a one year program that can be followed by an MBA in Finance at the UCB.
University of Chicago
The Booth School of Business at the University of Chicago is known for its postgraduate programs in finance worldwide. The MBA in Finance and PhD in Finance classrooms have seen great financial leaders walk in and out of the campus. Raghuram Rajan is a guest professor in Finance at the University of Chicago.
New York University
New York University, one of the best finance universities in the USA offers undergraduate and graduate finance programs in Financial Mathematics, Financial Engineering and Financial Technology. As an undergraduate student of Finance, you can choose to concentrate research in Asset Pricing, Real Estate or Corporate Finance. Another golden program by NYU in Finance is the TRIUM Global Executive MBA ranked #1 by Financial Times.
Columbia University in New York is a great choice if you wish to venture into international finance. A concentration in International Finance and Economics Policy will allow you to gain complete knowledge about individual financial systems and their interdependence. So if you see yourself at the IMF, World Bank or the central bank of India, this is one of the best finance universities for you.
Yale University is a definite name of the best finance universities in the USA list. The Masters in Systematic Risks and Asset Management are unique and beneficial financial fields of concentration. You can even pursue an MBA in Finance after your masters at Yale University.
University of California, Los Angeles (UCLA)
Want a blend of actuaries and finance? Then UCLA’s BSc program with Financial Actuarial Mathematics is the course for you! Other than that, UCLA offers Masters in Financial Engineering course which has ranked #3 in Business Masters in the USA. It combines theory, experimentation and real-world exposure in one course itself.
- Minimum academic qualifications
- All academic transcripts
- Proof of English Proficiency- IELTS/TOEFL
- SAT, GRE or GMAT scores (depending upon the course)
- Statement of Purpose
- Letters of recommendation
- Updated resume
Also Read: Masters in Architecture in the USA
You can apply to the best finance universities in the USA through the Common or Coalition Applications. Some universities may have the option of applying directly. Ensure that you take the English and other required tests before you start your application for finance courses in the USA. Attach all valid documents required for admission to study abroad.
Some universities require applicants to appear you the personal interview round. Universities will contact students via mail for the same. If you receive a letter of acceptance within 4 to 6 weeks, you have to accept it formally within a time limit. You can then start looking for accommodations, scholarships and start your F1 visa application.
Cost of Studying and Living in USA
|Type of cost||Average expenses (INR)|
|Tuition fee||37-55 lakhs per year|
|Accommodation||52,328-74755 per month|
|Food||15-20,000 per month|
|Travel||3,000-7,500 per month|
|Utilities||12,280 per month|
|Personal Expenses||5,000-10,000 per month|
|Health Insurance||1.10-1.83 lakhs per year|
The cost of studying in the USA can be really expensive as shown in the table above. These estimates have been put based on popular preferences, however, you can check your personalized cost by using our cost of living calculator.
Are you planning to in one of the best finance universities in USA? Call 1800-572-000 and connect to the Leverage Edu experts for end-to-end guidance from choosing the right university to Visa process.