MS in Finance in USA: Fees 2024, Top Colleges, Placements and Salaries

masters in finance usa
Study Abroad Expert November 2, 2023

The United States is a premier choice for students and professionals worldwide seeking advanced education. Renowned for its prestigious business and finance schools, the country offers exceptional graduate programs encompassing various study fields. Pursuing a Masters in Finance in USA presents numerous advantages, including outstanding internships, a robust professional network, and promising employment prospects in the competitive finance industry.

The MS in Finance program in the USA, lasting 1-2 years, is highly sought after by international students aspiring to launch their finance careers. It equips graduates with skills in corporate finance, investment banking, financial institutions, risk management, financial modelling, capital markets, behavioral finance, econometrics, and investment management. Shuraa Education offers invaluable guidance for students aspiring to study abroad, facilitating the pursuit of a Masters in Finance in USA. 

Reasons to Pursue Master’s in Finance in USA:

Undertaking a journey to pursue a Masters in Finance in USA is a strategic move that promises an array of compelling benefits. Shuraa Education assists students in pursuing their studies overseas, providing support at every stage. 

1. Efficient Path to Workforce Entry:

MSc Finance programs in the USA typically span 12-18 months, making them a swift and cost-effective route for students aiming to enter the finance industry swiftly.

2. No Mandatory Work Experience:

Unlike MBA programs in the USA, MS in Finance programs usually do not require prior work experience for admission. They primarily focus on financial planning and risk management.

3. Growth in Financial Advisory Market:  

The Financial Advisory market in the USA is projected to grow at a robust rate of 9.12% from 2023 to 2027, with an anticipated market size of US$80.87 trillion by 2027.

4. Global Financial Advisory Services Expansion:

The global financial advisory services market, valued at $79.4 billion in 2020, is forecasted to reach $135.6 billion by 2030. This sector is experiencing steady growth, with an average annual growth rate of 5.8% from 2021 to 2030. 

5. Abundant Job Opportunities:

Job listings in the USA’s Financial Services sector saw a 4.4% increase from the previous month and a 0.86% rise since March 2023. In June 2023 alone, there were 209,184 active job listings, with 73,460 new job postings—an increase of 2.99% compared to the previous month.

Subjects Covered in MS in Finance Programs in the USA:

  • Modern Finance 
  • Financial Mathematics 
  • Financial Engineering 
  • Corporate Financial Accounting 
  • Finance Ethics & Regulation
  • Corporate Finance 
  • Financial Markets 
  • Econometrics and Statistical Inference 
  • Big Data in Finance

 

Top Universities for Masters in Finance in USA

The USA, known for its progressive academic approach, offers many opportunities for international students. With diverse options in finance disciplines, students who want to study abroad can choose programs tailored to their interests. Some of the world’s most prestigious universities are situated in the USA. Here are the leading universities for Masters in Finance in USA. 

University Programs Offered Application Deadlines Tuition Fee (USD)
Massachusetts Institute of Technology (MIT) Master of Finance January 4, 2024 87,600
Columbia University MS in Financial Economics January 17, 2024 69,916
University of California Berkeley Master of Finance October 5, 2023 (closed) 80,486
University of California Los Angeles MS in Financial Engineering December 31, 2023 89,539
University of Texas at Austin MS in Finance January 10, 2024 53,000
University of Illinois Urbana Champaign MS in Financial Engineering April 15, 2024 78,837
Georgia Institute of Technology MS in Quantitative and Computational Finance March 15, 2024 57,969
University of Southern California MS in Finance February 1, 2024 79,092
Boston University MS in Financial Management March 15, 2024 72,412
Georgetown University MS in Finance February 2, 2024 41,295

Note: The tuition fees are subject to change

Looking for Admissions here? or need Help?

Master’s in Finance Requirements for USA

International students favor the USA as their top choice for studying abroad due to its outstanding academic reputation and cultural diversity. To secure admission to an MS in Finance program in the USA, applicants must be familiar with the essential prerequisites. The admission process necessitates various documents, and the following section outlines the details of Master’s in Finance admissions.

Eligibility Criteria for MS in Finance in USA:

 Shuraa Education assists students in pursuing their studies overseas, providing support at every stage. To meet the eligibility criteria for an MS in Finance in USA, applicants must: 

1. Bachelor’s Degree:

Prospective candidates must hold a Bachelor’s degree in a relevant field from an accredited university to be eligible for MS in Finance programs in the USA. 

2. Academic Excellence: 

A solid academic record is essential. However, different universities have varying GPA requirements. Most institutions seek candidates with a GPA falling within the range of 3.0 to 4.0 on the 4.0 scale.

3. Standardized Test Scores:

Applicants must submit GRE or GMAT scores, with universities often having a minimum score requirement, usually around 670 or above. Individual university guidelines should be checked for precise score expectations.

4. English Proficiency: 

Proficiency in English must be demonstrated through standardized tests such as IELTS, TOEFL, or equivalent exams. Typically, an IELTS score of 6.5 or higher is preferred, although specific requirements can vary by institution.

5. Varied Requirements: 

It is crucial to note that GPA thresholds, GRE/GMAT score expectations, and English proficiency requirements differ from one university to another. To obtain accurate and updated information, prospective students should consult university websites for specific entry criteria.

Documents Needed for MS in Finance in USA:

When applying for admission to an MS in Finance in USA, the necessary documents include the following: 

1. Online Admission Application:

Complete the online application form provided by the respective university.

2. Academic Transcripts:

Submit evaluated transcripts from all previously attended educational institutions.

3. Letters of Recommendation:

Provide 2-3 recommendation letters from academic or professional references. 

4. Resume:

Include a comprehensive resume detailing your academic and professional background. 

5. Writing Sample or Statement of Purpose:

Submit a well-crafted writing sample or a statement of purpose outlining your academic and career goals. 

6. Video Essay or Question (if applicable):

Certain universities may request a video essay or response to specific questions as part of the application process. 

7. Standardized Test Scores:

Include scores from relevant standardized tests required for studying in the USA. 

8. English Proficiency Test Scores:

Submit proof of English proficiency through tests like IELTS or TOEFL. 

9. GMAT or GRE Scores:

Provide scores from GMAT (Graduate Management Admission Test) or GRE (Graduate Record Examination) exams. 

10. Admission Application Fee:

Pay the non-refundable admission application fee as per the university’s requirements.

USA Study Visa Application: Documents and Procedure

International students intending to study abroad must obtain a USA study visa. After receiving the essential I-20 form from the university, students can initiate their online visa applications. The F-1 Student Visa is typically granted to non-immigrants aspiring to pursue higher education or research in the US. To proceed, students must possess the I-20 form provided by their enrolled university.

Admitted students are restricted from full-time employment but can work part-time while studying in the USA. The on-campus work allowance is limited to 20 hours per week.

Cost of Pursuing MS in Finance in the USA

Pursuing an MS in Finance in the USA can financially challenge international students. In addition to tuition fees, students are responsible for covering living expenses in various US cities. Before selecting a university, international students must assess the overall study expenses in the USA thoroughly. Shuraa Education assists students in pursuing their studies overseas, providing support at every stage.

Note: Precise information regarding costs and expenses, you can directly consult our Shuraa Education experts. They are available to assist you throughout the process.

Looking for Admissions here? or need Help?

MS in Finance Tuition Fees in the USA

For MSc Finance programs in the USA, the annual tuition fees vary between 19,037* USD and 77,168* USD. The following chart illustrates the yearly tuition costs for MS in Finance programs at leading colleges in the USA: 

Top Universities  Tuition Fee (USD)  Tuition Fee (INR) 
Massachusetts Institute of Technology (MIT)  87,600  72.89 lakhs 
Columbia University  69,916  58.18 lakhs 
University of California Berkeley (UC Berkeley)  80,486  66.97 lakhs 
University of California Los Angeles (UCLA)  89,539  74.51 lakhs 
University of Texas at Austin  53,000  44.10 lakhs 
University of Illinois Urbana Champaign  78,837  65.60 lakhs 
Georgia Institute of Technology (Georgia Tech)  57,969  48.23 lakhs 
University of Southern California (USC)  79,092  65.81 lakhs 
Boston University  72,412  60.25 lakhs 
Georgetown University  41,295  34.36 lakhs  

Note: The tuition fee is subject to change based on your residency status.

Living Expenses in the USA

Sustaining life in the USA poses a challenge for many international students due to the high living costs. Students can reside on or off-campus while pursuing a Masters in Finance in USA. The living expenses in the USA significantly vary based on factors like the type of student housing selected and the city of residence. Estimated living expenses encompass: 

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

Note: After submitting these documents, applicants will receive an invitation for an interview at the US Embassy in their home country. The visa will be granted only upon successful completion of the interview process.

Financial Assistance for MS in Finance in the USA

Given the substantial tuition fees, many international students seek financial aid to facilitate their degree completion. The scholarships available for international students in the USA include: 

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 are waived off

Note: Another avenue for funding studies in the USA is through education loans. Students can approach banks or private lenders to secure financial assistance for their education.

Looking for Admissions here? or need Help?

MS in Finance Salaries in the USA

Graduates with a Master in Finance in the USA often secure high-paying positions within the global financial sector. In today’s booming financial landscape, these graduates are pivotal, advising organizations on imminent economic risks and valuable strategies. With the USA’s solid economic standing, international students find abundant job opportunities. With analytical skills, finance graduates carve their paths in the global financial markets. Below are examples of job profiles and corresponding salaries for students recruited from the university. 

Occupation Average Salary (USD) Average Salary (INR)
Accountants and auditors 78,000 64.90 lakhs
Budget analysts 82,260 68.45 lakhs
Claims adjusters and investigators 72,040 59.94 lakhs
ob Analysis Specialists 67,780 56.40 lakhs
Cost estimators 71,200 59.25 lakhs
Financial analysts 96,220 80.07 lakhs
Financial examiners 82,210 68.41 lakhs
Fundraisers 61,190 50.92 lakhs
Human Resources Specialists 64,240 53.45 lakhs
Insurance underwriters 76,230 63.43 lakhs
Labor Relations Specialists 82,010 68.24 lakhs
Loan officers 65,740 54.70 lakhs
Logisticians 77,520 64.50 lakhs

Pursuing an MS in Finance in the USA or the UK?

Here’s a comparative overview highlighting the critical distinctions between Master’s in Finance programs in the USA and the UK: 

Parameter Masters in finance in USA Masters in finance in the UK
Duration 12-18 months (about 1 and a half years) 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)

Note: The figures mentioned are subject to change.

With a predicted growth rate of 7% from 2018-2028, pursuing a Master’s in Finance in the USA offers exceptional career prospects in the finance sector. This comprehensive program emphasizes practical and theoretical knowledge, making it an ideal choice for aspiring finance professionals. Students keen on exploring this opportunity can expect remarkable returns on their investment in education.

At Shuraa Education, we assist students in applying to suitable universities and provide support in securing accommodations at select institutions. Our dedicated team ensures a seamless experience from start to finish. For further inquiries, feel free to contact us via email at info@shuraaeducation.com or reach out to us via call or WhatsApp at +91 931 999 8924. Remember, your academic journey in the United States is not just about obtaining a visa; it’s about delving into a world of endless opportunities and achieving your educational aspirations.

Looking for Admissions here? or need Help?

FAQs

Q1: Which universities are renowned for offering Master’s in Finance programs in the USA?

Some leading universities in the USA providing MS in Finance include MIT, UC Berkeley, UCLA, Columbia University, and more.

Q2: What are the eligibility criteria for admission to a Master’s in finance in the USA?

To qualify for MS in Finance in the USA, applicants need an undergraduate degree in a related field from a recognized university or college. Additionally, international students must demonstrate English language proficiency through standardized tests like TOEFL or IELTS.

Q3: What is the duration of Master’s in Finance programs in the USA?

Master’s in Finance programs in the USA typically span 10-18 months (about 1 and a half years) at various universities.

Let's Talk.

Please leave your details and we will contact you shortly!

Categories


Trending Post


Latest Post

Public Universities in Germany
Study Abroad Expert May 22, 2024

Top 10 Public Universities in Germany: Zero Tuition Fees!

Germany has long been a popular destination for students looking to study abroad, and it’s easy to see why. Germany offers a unique and enriching experience for students from all over the globe through its world-class education system, vibrant culture, and stunning landscapes.  A recent statistic shows that Germany is quickly becoming a top destination […]

Read More
Public Universities in Germany
Study Abroad Expert May 20, 2024

Public Universities in Germany: Study for free in 2024

In 2024, the opportunity to study at tuition-free public universities in Germany represents a extraordinary chance for students worldwide. At Shuraa Education, we are dedicated to allowing individuals to grasp this supreme chance for personal and academic progress. Germany’s well-known education system, coupled with its promise to available learning, makes following higher education in this […]

Read More
New Rule for Student Visa in Canada
Study Abroad Expert April 5, 2024

What is the New Rule for Student Visa in Canada?

Canada has long been a top choice for international students seeking high-quality education in a welcoming environment. However, starting in 2024, the government has implemented new rule for student visa in Canada, particularly in the study permit and post-graduate work Permit (PGWP) requirements.  These changes are set to have a significant impact on the student […]

Read More
Whats App