Content Strategy Manager | Updated On - Apr 18, 2024
MS 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 prepares graduates to handle corporate finance, investment banking, financial institutions, risk management, financial modelling, capital markets, etc. The US financial market is a growing industry that is the backbone of the business world. Employers worldwide need skilled professionals with skills in finance leading to growing career opportunities after the MSF degree.
The average tuition fee for Masters in Finance in USA ranges from USD 20,000 to 80,000. To be eligible for admission to MS in Finance in USA, you need a 4-year undergraduate degree or 3-year equivalent with a minimum GPA of 3.0 on a 4.0 scale with an IELTS score of 6.5 or above. The top US universities popular for their finance courses are UCLA, USC Marshall, and MIT Sloan.
The MS in Finance is an advanced specialized degree designed to provide students with education across various domains within the finance field. The field of business and finance is expected to witness a surge in job opportunities with over 911,400 new jobs annually.
If you want to pursue, MS in Finance in USA, the Return on Investment is promising, with graduates earning an average salary of USD 79,000. The top recruiters for professionals with an MS in Finance degree include industry leaders like Deloitte, Silicon Valley Bank, Citigroup Inc., Ernst & Young, and many others.
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Best Universities for MS Finance in USA
Due to its innovative academic structure, USA is a land of opportunities for international students. The top universities for MS in Finance in USA are given below –
| QS World Ranking 2024 | University | Program Name | Annual Tuition Fees (USD) |
|---|---|---|---|
| #4 | MIT Sloan | Master of Finance (MFin) | 87,600 |
| #5 | UC Berkley | Master of Financial Engineering (MFE) | 80,486 |
| #9 | UCLA Anderson | Master of Financial Engineering (MFE) | 58,852 |
| #27 | University of Texas | Master of Science in Finance (MSF) | 53,000 |
| #30 | USC Marshall | Master of Science in Finance (MSF) | 56,484 |
| #31 | University of Florida | Master of Science in Finance (MSF) | 35,543 |
| #33 | Boston University | Master of Science in Finance (MSF) | 58,560 |
| #37 | Georgetown University | Master of Science in Finance (MSF) | 43,686 |
| #45 | University of Maryland | Master of Finance | 35,965 |
| #46 | Georgia Tech | Master in Quantitative and Computational Finance (MSQCF) | 38,646 |
| #58 | University of Illinois Urbana Champaign | Master of Finance | 21,667 |
| #61 | Ohio State University | Master in Finance | 51,994 |
The curriculum for finance programs in the US covers essential courses in finance, accounting, statistics, and business. Many Masters of Finance in US universities allow finance majors to specialize in a particular area of finance, such as investment banking, corporate finance, or financial planning.
- Some universities offer opportunities for students to gain real-world experience through internships and case studies.
- New York University's Stern School of Business has a student-managed investment fund that allows students to invest real money.
- A growing number of universities are offering international programs in finance. These programs allow students to study abroad and gain a global perspective on finance.
- University of Pennsylvania's Wharton School offers a Hong Kong program focusing on Asian financial markets.
Explore More: Top US Universities for MS in Finance
Why study MS in Finance in USA?
- MSc Finance USA takes 12 to 18 months to complete and is a cost-effective and quicker option to enter the workforce.
- Unlike MBA in USA, degrees of MS in Finance in USA do not usually require work experience for admissions.
- The Financial Advisory market in the United States is expected to grow 9.12% from 2023 to 2027, reaching a market size of USD 80.87 trillion in 2027.
- The global financial advisory services market is expected to have an average annual growth rate of 5.8% from 2021 to 2030.
- The number of job listings in the United States' Financial Services sector increased by 4.4%, reaching 209,184 active job listings.
The graduates of Masters in Finance in USA can work in any sector as a controller, treasurer, tax director, finance manager, etc.
Read More: Why Study in USA?
MS in Finance in USA Subjects
The subjects and specializations covered in MSc in Finance in USA are –
- Modern Finance
- Financial Mathematics
- Financial Engineering
- Corporate Financial Accounting
- Finance Ethics & Regulation
- Risk Management
- Corporate Finance
- Financial Markets
- Econometrics and Statistical Inference
- Big Data in Finance
Masters in Finance USA Admission Requirements
International students prefer USA as the top study-abroad destination for its academic excellence. The applicants must know the eligibility criteria required for admission to MS in Finance in USA –
- 4-year UG degree or 3-year equivalent with a minimum 3.0 GPA.
- GRE and GMAT scores are also required for admission to MS in Finance in USA.
- English Proficiency Test Scores: TOEFL: 70-100 and IELTS: 7.0-9.0
- Statement of Purpose (SOP)
- 2-3 Letters of Recommendation
- CV or Resume
Check Out: Application Deadlines for Top US Universities
Eligibility for MS in Finance in USA
To be eligible for MS in Finance in USA, an applicant must have a bachelor's degree in a relevant field of study from a recognized university with 80% and above mark. Mentioned below are the Eligibility for MS in Finance in USA for Indian students 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 |
Explore:
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, students can complete their applications online.
- The F-1 Student Visa is usually offered to non-immigrants who want to pursue higher studies or research in the US.
- Students must have the I-20 form from the enrolled university.
- The admitted students are not permitted to take up full-time employment, 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!
MS 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 deciding on choosing the right university.
MS in Finance in USA Fees
The annual tuition fee for MSc Finance USA ranges from USD 21,667 to 87,600. The chart below depicts the annual tuition fee for an MS in Finance at top colleges in USA:
| University | Annual Tuition Fees (USD) | Annual Tuition Fees (INR) |
|---|---|---|
| MIT Sloan | 87,600 | 73.18 Lakhs |
| UC Berkley | 80,486 | 67.24 Lakhs |
| UCLA Anderson | 58,852 | 49.16 Lakhs |
| Boston University | 58,560 | 48.91 Lakhs |
| USC Marshall | 56,484 | 47.18 Lakhs |
| University of Texas | 53,000 | 44.27 Lakhs |
| Ohio State University | 51,994 | 43.43 Lakhs |
| Georgetown University McDonough | 43,686 | 36.49 Lakhs |
| Georgia Tech | 38,646 | 32.28 Lakhs |
| University of Maryland | 35,965 | 30.04 Lakhs |
| University of Florida | 35,543 | 29.69 Lakhs |
| University of Illinois Urbana Champaign | 21,667 | 18.09 Lakhs |
Cost of Living in USA
Most international students find it difficult to sustain 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, city of residence, etc. The average living cost of an international student in USA is 47,000 to 50,000 USD (INR 38-41 lakhs) per year.
Check in Detail: Cost of Living in USA
Scholarships for MS in Finance in USA
Due to huge tuition fees, most international students avail of financial aid to ease their financial burden. 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 Changchun "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 for 14hrs/week work commitment |
| McDonough School of Business | Merit-based scholarships | Varies |
| Questrom School of Business | Dean’s Scholarship program | A portion of tuition fees waived off |
| 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 |
Education loans are another way of financing studies in the USA. Students can contact banks or private lenders for an education loan.
MS in Finance in USA Salary
The graduates of Masters in Finance in USA can land profitable job roles in the global financial sector. In this booming financial world, finance graduates can inform organizations about upcoming economic risks or strategies to combat them. The finance graduates pave their paths in these global economic markets with their strong analytical skills. The job profiles of the students recruited from the university along with its salary are given below
| Profession | Average Salary (USD) | Salary for Indian Student (INR) |
|---|---|---|
| Financial Analyst | 67,584 | 56.11 lakhs |
| Financial Manager | 100,681 | 83.59 lakhs |
| Investment Banker | 80,239 | 66.62 lakhs |
| Corporate Controller | 112,770 | 93.63 lakhs |
| Insurance underwriters | 63,882 | 53.04 lakhs |
| Logistic Analyst | 64,614 | 53.64 lakhs |
| Fundraisers | 55,764 | 46.30 lakhs |
| Cost estimators | 63,339 | 52.59 lakhs |
| Budget analysts | 66,505 | 55.21 lakhs |
MS in Finance: Top Recruiters
Universities in USA not only provide students with the required skills but also help them reach the industry to boost their careers. Several big companies recruit graduates of MS in Finance graduates in USA. Some of them include –
- Goldman Sachs,
- Deloitte
- JP Morgan
- Abbvie. Inc
- Silicon Valley Bank
- Citigroup Inc.
- Ernst & Young
Is it better to do MS 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, a Masters in Finance in USA is an exceptional program for you if you are a finance aspirant. The program focuses both on practical and theoretical knowledge in finance. Interested students can explore their options with a Masters in Finance with equally incredible returns. With rapid growth in the industry, USA is one of the best option for students to develop their skill set in this field.
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 –
- A 4 year UG degree or 3 year equivalent in the relevant field is eligible to apply for MS in Finance in USA.
- Students need to clear English Proficiency Tests such as TOEFL or IELTS.
- Some universities also ask students to have quantitative knowledge of logistics, numerical analysis, probability etc along with knowledge of coding languages such as C++.
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 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. Masters or MSC in Finance course usually takes 1 year to complete 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.
Ques. Is MS Finance in the USA better than MBA?
Ans. MBA program includes many subjects with finance being one of them. MBA students learn the basic structure of finance and can look for jobs apart from the finance industry. Whereas, MS in Finance in USA is a more finance-oriented program and focuses on in-depth study of finance.
Ques. Is MS Finance a STEM course in USA?
Ans. Yes. MS in Finance is a STEM Course in USA. STEM courses cover four main areas of specialization: Science, Technology, Engineering, and Mathematics. In USA Finance and Accounting has now been considered as a STEM course.
Ques. Is it worth doing MS in Finance in USA?
Ans. The finance industry is growing rapidly and steadily, and so does the opportunities. Due to high demand, this industry has become one of the most competitive among the professionals. MS in Finance is a high level degree which not only increases your skill set as a professional but also broadens your job prospectus. And, USA has some of the top universities which offer MS in Finance such as UCLA, MIT Sloan, UC Berkeley etc.
Ques. What is the average salary of MS in Finance in USA?
Ans. The average salary of MS in Finance in USA is around 79,000 USD (INR 65 Lakhs). The salary varies as per the role and profession of a MSF graduate along with the university one has graduated from. Given below is the table mentioning the average salary earned by MS in Finance graduates from different Universities in USA:
University
| University | Average Per Year Salary after Graduation(in USD) |
|---|---|
| MIT Sloan | 110,991 |
| UC Berkley | 147,578 |
| UCLA Anderson | 147,000 |
| University of Texas | 82,000 |
| USC Marshall | 133,000 |
| University of Florida | 79,000 |
| Boston University | 85,000 |
| Georgetown University McDonough | 119,000 |
| University of Maryland | 83,000 |
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Comments
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Pursuing an MS in Finance can lead to higher salaries and better job prospects compared to holding only a bachelor's degree. The specialized knowledge and advanced skills gained in the program enhance employability and earning potential, making it a valuable investment for those looking to advance in the finance industry.