Are you interested in pursuing your higher education in Finance? Finance has become one of the most popular and lucrative streams, with high growth potential and many career opportunities. Several universities offer finance major and minor courses as it is becoming an important skill to master. Aspiring to study an MS in Finance in USA? Read on to find out all you need to know as you plan your education.
This Blog Includes:
- Overview: MS in Finance in USA
- Why study MS in Finance in USA?
- Top Universities for MS in Finance in USA
- Admission Procedure
- Eligibility Criteria
- Documents Required
- Fees for MS in Finance in USA
- Cost of Living in USA
- Visa to Study in USA
- Scholarships for MS in Finance in USA
- Job Prospects for MS in Finance in USA
Overview: MS in Finance in USA
Masters in Finance or MS in Finance in USA is a 10-24 months-long program. It is a popular stream among international students who wish to pursue a career in Finance. The program aims to prepare graduates for managing various finance domains like corporate finance, financial institutions, investment banking, risk management, capital markets, financial modelling, behavioural finance, econometrics, investment management and more. 66 universities are providing MS in Finance in USA according to QS Top Universities.
Why study MS in Finance in USA?
- It is a cost-effective and faster option for students to join the workforce as finance professionals.
- Unlike MBA in USA, MS in Finance in USA does not generally require work experience for admissions and centres primarily on financial planning and risk management.
- The market size measured by revenue of the Financial Planning & Advice industry is an astounding $52.9bn in 2021
- It is expected to increase by 3.5% in 2021.
- In the last five years, it has grown 2.1% per year on average between 2016 and 2021.
- The county is a hub of academic excellence and has emerged as a great study abroad destination for international students.
- About 1.1 million international students attended university in USA in 2019-20. The diversity allows the students to interact with culturally diversified entities.
Top Universities for MS in Finance in USA
Considered as the land of opportunities for international students, USA is home to a few of the world’s most renowned universities. Here are some top universities for MS in Finance in USA:
|University||QS World Rankings 2023||Program|
|Massachusetts Institute of Technology (MIT)||#1||Master of Finance|
|Columbia University||#22||M.Sc Financial Economics|
|University of California Berkeley||#27||Master of Finance|
|University of California Los Angeles||#44||M.Sc Financial Engineering|
|University of Texas at Austin||#72||M.Sc Finance|
|University of Illinois Urbana Champaign||#85||M.S Financial Engineering|
|Georgia Institute of Technology||#88||M.Sc Quantitative and Computational Finance|
|University of Southern California||#134||M.Sc Finance|
|Boston University||#108||M.Sc Financial Management|
|Georgetown University||#281||M.S Finance|
The applicants must be aware of the eligibility requirements, documents required, any prerequisites of the specific university and meet academic and English proficiency requirements before seeking admission for MS in Finance in USA. These details are discussed comprehensively as you read further.
To be qualified for MS in Finance in USA, an applicant is required to:
- Complete a Bachelor’s degree in a relevant field of study from a recognised university
- Have an excellent academic record. The universities offering MS in Finance in USA have different GPA requirements
- provide GRE or GMAT scores
- provide English language proficiency proof through IELTS, TOEFL or equivalent exam
The GPA, GRE/GMAT scores and IELTS/TOEFL score requirements different from university to university. Most universities have a minimum requirement in the range of 3.0-4.0 in the 4.0 GPA scale, GRE/GMAT scores of 670+ and English proficiency of IELTS 6.5+ or equivalent. Students are advised to refer to the university websites for specific and updated entry requirements.
The documents needed while applying for MS in Finance in USA are:
- Completed online admission application form at the university portal
- Academic transcripts from educational institutions attended
- Two-three Letters of Recommendation
- Writing Sample or Statement of Purpose
- Some universities might also request a video essay or question
- Scores of standardised tests to study MS in Finance in USA:
- English Proficiency test scores
- GMAT/GRE scores
- Application fee
Fees for MS in Finance in USA
The tuition fees for MS in Finance in USA for the top universities are listed below:
|University||Annual Tuition Fee (in USD)|
|Massachusetts Institute of Technology (MIT)||77,168 (INR 63 Lakhs)|
|University of California Berkeley (UC Berkeley)||72,920 (INR 59 Lakhs)|
|University of California Los Angeles (UCLA)||31,949 (INR 25 Lakhs)|
|Columbia University||70,000 (INR 57 Lakhs)|
|University of Southern California (USC)||27,660 (INR 22 Lakhs)|
|University of Texas at Austin||38,326 (INR 31 Lakhs)|
|University of Illinois Urbana Champaign||54,646 (INR 44 Lakhs)|
|Georgia Institute of Technology (Georgia Tech)||19,037 (INR 15 Lakhs)|
|Georgetown University||41,972 (INR 33 Lakhs)|
|Boston University||56,412 (INR 46 Lakhs)|
Cost of Living in USA
The average cost of living while pursuing MS in Finance in USA:
|Categories||Annual Cost (in USD)|
|Books and Supplies||900 (INR 74,000)|
|Food||6318 (INR 4.6 Lakhs)|
|Apartment Housing with amenities||16,700 (INR 13 Lakhs)|
|Dormitory Housing||7,402-11,622 (INR 5 Lakhs-INR 9 Lakhs)|
|Meal Plan for Dormitory Residents||2,426 (INR 1.6 Lakhs)|
|Miscellaneous||6470 (INR 4.6 Lakhs)|
Visa to Study in USA
To study MS in Finance in USA, international students can complete their applications online upon receiving the I-20 form from the university. Students are required to submit these documents for their F-1 student Visa:
- Visa application form
- Acceptance letter
- Birth Certificate
- Original I-20 signed and approved
- Sponsorship letter (if applicable)
- Evidence of finances
- Bank statements of last 6-months
- Visa application fee and SEVIS fee payment receipt
The applicant is invited for an interview process at the USA Embassy in their country. Visa is issued only if the applicant has qualified after their interview.
Scholarships for MS in Finance in USA
International students can avail financial aid for their study abroad education. The scholarships for MS in Finance in USA are:
- Fulbright-Nehru Master’s Fellowships
- Fully-Funded Rotary Peace Fellowships
- OGE Administered Fellowships
- The Chengchun “Arthur” Qi Book Scholarship
- Inlaks Shivdasani Foundation Scholarship
- USC Marshall School of Business Scholarship
- Golden Scholarships
- Columbia Business SchoolFederal Work-Study Program
- Scheller College of Business Graduate Assistantships
- McDonough School of Business Scholarship
- Questrom School of Business Dean’s Scholarship program
Job Prospects for MS in Finance in USA
MS in Finance in USA graduates can land up with lucrative opportunities in the global financial sector. Internship and full-time opportunities in the USA for international students are higher for their developed economic status. The MS in Finance in USA graduates can find their paths in these financial markets. The average salary offered by these recruiters can range from USD 80000 to USD 160000.
Top Recruiters for MS in Finance in US universities:
- Morgan Stanley
- Sancus Capital
- Aspen Capital
- East-West Bank
- Target Enterprises
- The Spartan Group
- American Express
Some top universities offering MS in Finance in USA are MIT, UC Berkeley, UCLA, Columbia University, University of Southern California etc.
For MS in Finance in USA, you must have a related undergraduate degree from a recognised university. International students need to prove language proficiency through one of the standardised English Language tests.
The MS in Finance in USA is a program with a duration of 10-24 months at universities in USA.
The tuition fees for MS in Finance in USA range from 19,000- 80,000 USD annually.
We hope this article helped you know everything about MS in Finance in USA. If you’re looking for the proper guidance to plan your study abroad journey, study abroad consultants at Leverage Edu are just one call away to guide you through all that you need. For more expert advice and scholarships regarding higher studies or international professional courses, follow Leverage Edu on Facebook, Youtube, Instagram.