Why Study A Masters Of Finance In the USA?
Masters in finance in USA programmes typically last between 12 to 18 months and are a favoured choice among students seeking a swift and cost-effective pathway to enter the finance workforce. Unlike MBA programmes in the USA, MS in Finance programmes generally do not mandate prior work experience for admissions, instead emphasising financial planning and risk management skills.
- Quality Education: The USA is renowned for its top-tier educational institutions and rigorous academic programmes. Pursuing a master’s degree in Finance in the USA allows you to access high-quality education, advanced curriculum, and research opportunities. Universities often organise networking events, guest lectures, and career fairs where you can interact with industry leaders and potentially secure internships or job opportunities.
- Career Prospects: The USA has a robust and dynamic financial sector, offering a wide range of career opportunities for finance professionals. Major financial hubs like New York, Chicago, and San Francisco are home to prestigious financial institutions, investment banks, consulting firms, and multinational corporations. Studying in the USA can provide you with access to these job markets, increasing your chances of finding rewarding employment and career advancement.
- Salary Package: The salary package after completing a Master’s in Finance in the US is attractive. The value increases with a better experience. For example, students who just graduated can expect 54,000 USD/year as financial analysts and 46,000 USD/year as accountants.
List Of Universities In USA For MS In Finance
The duration of Masters of Finance in the USA varies between 12 to 24 months, depending on the university and the choice of part-time or full-time enrollment. Admissions typically commence in most universities during the December and January period.
| University | Programmes Offered | Tuition Fee (USD) |
| Georgetown University | Masters in Finance | 86,522 |
| Boston University | Masters in Financial Management | 38,500 |
| University of Southern California | Masters in Finance | 76,932 |
| Georgia Institute of Technology | MS in Quantitative and Computational Finance | 57,969 |
| University of Illinois Urbana Champaign | Masters in Financial Engineering | 64,005 |
| University of Texas at Austin | Masters in Finance | 53,000 |
| University of California Los Angeles | Masters in Financial Engineering | 85,276 |
| University of California Berkeley | Masters of Finance | 80,486 |
| Columbia University | Masters in Financial Economics | 66,584 |
| Massachusetts Institute of Technology (MIT) | Master of Finance | 86,300 |
Eligibility Criteria To Study Masters Of Finance In USA
In contrast to many other countries, the United States offers a STEM designation for its MS in Finance programme. This allows students from various countries, including Canada, Australia, America, Hong Kong, India, and the UK, to obtain an F-1 visa that grants a 24-month OPT (Optional Practice Training) extension in addition to the regular 12-month OPT tenure.
The eligibility requirements for pursuing a Master of Finance in the USA are given in the table below:
| Requirement | Description |
| Bachelor’s degree | Must possess a bachelor’s degree in a relevant field of study from an eligible university |
| Minimum requirement: 80% marks or above | |
| GRE or GMAT score | Required score: Generally considered favourable at 650 or higher |
| English proficiency | Non-native English-speaking students must demonstrate English proficiency |
| IELTS score | The minimum score typically considered advantageous: is 6.5 or higher |
| TOEFL score | The minimum score typically considered advantageous: is 90 or higher |
Test Scores To Be Aware Of
| Name of the university | G.P.A. | TOEFL | GRE |
| The University Of California Berkeley | 3.89 | 80 | 320 |
| University of Southern California (USC) Marshall School Of Business | 3.89 | 90 | 160 |
| MIT Sloan School Of Management | 3.62 | 90 | Quant – 158 – 169 Verbal – 157 – 168 |
| UCLA Anderson School Of Management | 3.5 | 100 | 320 |
| The University Of Texas At Austin | 3.83 | 79 | Quant – 159 Verbal – 160 |
Cost Of Studying This Course
The Master of Finance in the USA is a costly undertaking for international students. In addition to tuition fees, students are responsible for covering their living expenses in various cities across the country. It is crucial for international students to thoroughly examine the cost of studying in the USA before making a university selection.
The tuition fees for stem-designated MS finance in the USA vary between $19,037 and $77,168 per year. You can refer to the costs highlighted in the table below:
| Particulars | Cost (Monthly) |
| Off-Campus Accommodation | $525 |
| On-Campus Accommodation | $871 |
| Transportation | $70 |
| Food Cost | $527 |
| Utility Cost | $180 |
| Entertainment | $48 |
| Groceries | $52 |
| Clothes | $102 |
| Health Insurance | $80 |
| Total Cost of Living with Off-Campus Accommodation | $1,504 |
| Total Cost of Living with On-Campus Accommodation | $1,850 |
| Annual Cost of Living | $18,048 |
Due to the high costs involved, many international students find it challenging to maintain their livelihood in the USA. When pursuing a Master of Finance in the USA, students have the option to reside either on or off-campus. The cost of living in the USA largely depends on factors such as the type of student housing chosen and the city of residence.
Scholarships For MS In Finance In the USA
The high tuition fees necessitate the majority of international students to seek financial assistance in order to complete their degrees successfully. Here are the available scholarships for master of finance in the USA:
| Name of the scholarship | University | Funding Amount |
| The Changchun “Arthur” Qi Book Scholarship | The University Of California Berkeley | $1,000 |
| Merit-based Scholarships | University of Southern California (USC) Marshall School Of Business | Partial tuition fees |
| Inlaks Shivdasani Foundation Scholarship | UCLA Anderson School Of Management | $100,000 |
| OGE Administered Fellowships | MIT Sloan School Of Management | Partial tuition fees |
Job Prospects After This Course
Graduates with a Master of Finance in the USA have the opportunity to secure highly rewarding positions in the global financial sector. In today’s thriving financial landscape, these finance graduates possess the knowledge and expertise to advise organisations on forthcoming economic risks and propose strategies to enhance their value.
| Name of the university | Average Salary |
| MIT Sloan School of Management | $150,000 |
| UC Berkeley Haas School of Business | $171,000 |
| UCLA Anderson School of Management | $96,428 |
| USC Marshall School of Business | $127,495 |
| Job Profile | Average Annual Salary |
| Accounting Manager | 85,072 USD |
| Senior Financial Analyst | 83,682 USD |
| Finance Manager | 109,628 USD |
| Financial Controller | 91,190 USD |
| Portfolio Manager | 94,601 USD |
MBA Vs Masters In Finance: What Is The Difference
As noted earlier, determining the most suitable degree hinges on your career objectives and your desired outcomes from your educational journey. Here’s a brief overview of Masters in Finance Vs MBA to contemplate prior to finalising your choice:
For MBA:
- Offers greater Return on Investment (ROI)
- Requires substantial work experience
- Might necessitate the GMAT/GRE examination
- Encompasses a broader spectrum of business subjects
For Master’s:
- Requires less work experience
- Demands higher academic qualifications for esteemed institutions
- GMAT/GRE scores hold less significance
- Provides a more specialised curriculum
Conclusion
In conclusion, pursuing a Masters of Finance in the USA offers a promising pathway for international students to delve into the dynamic world of finance and secure lucrative career opportunities. With a range of programme durations and abundant options available, aspiring finance professionals can acquire the necessary knowledge and skills to excel in their chosen fields. Whether it’s financial planning, investment management, or corporate finance, the Masters of Finance programmes in the USA provide a solid foundation for success in the ever-evolving financial landscape.
FAQs
1. Is it worth pursuing a Master of Finance in the USA?
Obtaining a Master of Finance in the USA will unlock numerous prospects for you within the finance industry. You will have the option to pursue careers as an investment banker, financial analyst, or even an actuary.
2. Do universities in the USA require scores of GRE or GMAT for admissions to MS in Finance?
In the majority of instances, top USA business schools require a mandatory GRE or GMAT score. An IELTS or TOEFL score is also necessary for international students applying to their MS in Finance programmes.
3. What are Masters in Finance subjects in the USA?
The objective of the programme is to enable graduates with the skills necessary to oversee diverse finance areas, including corporate finance, financial institutions, investment banking, risk management, capital markets, financial modelling, behavioural finance, econometrics, investment management, and other related domains.
4. What are the tuition fees for an MS in Finance in the USA?
The annual tuition fees for a Master in Finance in the USA vary from $19,000 to $80,000, providing a wide range of options for students seeking financial planning education at different price points.
5. How long is MS in Finance in the USA?
Masters in Finance programmes in the USA typically span a duration of 1-2 years, making them highly sought after by international students aspiring to launch their careers in the finance industry.