Pursuing a Master's (MS) in finance gives you endless opportunities and an exceptional educational experience. Renowned for its world-class universities and cutting-edge curriculum, the USA provides a robust foundation in financial principles, advanced analytical skills, and real-world application. As a student, you'll benefit from access to leading financial institutions, industry experts, and a global network of professionals. Whether your goal is to excel in investment banking, corporate finance, or financial consulting, a MS in finance in USA trains you with the knowledge, skills, and connections needed to success in the competitive financial sector.
Why study MS in finance in USA?
There are several reasons why you should study MS in finance in USA:
Top-ranked universities: The USA has some of the world's top universities offering cutting-edge finance programs. Schools like MIT, Harvard, and the University of Chicago are renowned for their finance courses, faculty expertise, and advanced research facilities.
Comprehensive curriculum: US universities offer a comprehensive and practical curriculum that includes subjects like corporate finance, investment banking, financial analysis, risk management, and fintech, ensuring a well-rounded education.
Networking opportunities: Studying in the USA provides endless networking opportunities. You can connect with industry leaders, alumni, and peers, knowing the way for future job prospects and professional growth.
Internship and job placements: Many US universities have strong ties with the finance industry, offering excellent internship and job placement services. This hands-on experience is invaluable for building a successful career in finance.
Cutting-edge resources and technology: US institutions have state-of-the-art resources and technology, including financial databases, and simulation software, providing students with practical skills and knowledge.
Global financial hub: The USA is a global financial hub with cities like New York, Boston, and San Francisco offering countless opportunities in investment banking, asset management, consulting, and more.
Top universities for MS in finance in USA
Here are the top 10 universities in USA according to the QS World University Ranking 2024, you can consider studying MS in finance at one of the below universities:
University | QS World Ranking 2024 |
|---|---|
Harvard University | 1 |
Massachusetts Institute of Technology (MIT) | 2 |
Stanford University | 3 |
University of Chicago | 5 |
University of Pennsylvania | 8 |
University of California, Berkeley (UCB) | 9 |
New York University (NYU) | 10 |
Columbia University | 11 |
Yale University | 12 |
University of California, Los Angeles (UCLA) | 16 |
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Cost of studying MS in finance in USA
The cost of studying for an MS in finance in the USA can vary significantly depending on the university and location. Here are the general categories of average expenses you can expect:
Expense | Public Universities (USD) | Public Universities (INR) | Private Universities (USD) | Private Universities (INR) |
|---|---|---|---|---|
Tuition fees | $20,000 - $50,000 | âı16,40,000 - âı41,00,000 | $40,000 - $80,000 | âı32,80,000 - âı65,60,000 |
Accommodation | $8,000 - $15,000 | âı6,56,000 - âı12,30,000 | $8,000 - $15,000 | âı6,56,000 - âı12,30,000 |
Food | $3,000 - $5,000 | âı2,46,000 - âı4,10,000 | $3,000 - $5,000 | âı2,46,000 - âı4,10,000 |
Transportation | $1,000 - $2,000 | âı82,000 - âı1,64,000 | $1,000 - $2,000 | âı82,000 - âı1,64,000 |
Health insurance | $1,000 - $3,000 | âı82,000 - âı2,46,000 | $1,000 - $3,000 | âı82,000 - âı2,46,000 |
Miscellaneous | $2,000 - $5,000 | âı1,64,000 - âı4,10,000 | $2,000 - $5,000 | âı1,64,000 - âı4,10,000 |
Books and supplies | $1,000 - $2,000 | âı82,000 - âı1,64,000 | $1,000 - $2,000 | âı82,000 - âı1,64,000 |
Visa fees (F-1 Visa) | $160 | âı13,120 | $160 | âı13,120 |
SEVIS fee | $350 | âı28,700 | $350 | âı28,700 |
Application fees | $50 - $200 per app. | âı4,100 - âı16,400 per app. | $50 - $200 per app. | âı4,100 - âı16,400 per app. |
Total estimated cost | $35,000 - $75,000 | âı28,45,820 - âı61,22,220 | $55,000 - $105,000 | âı44,43,820 - âı86,58,220 |
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Eligibility requirements for MS in finance course in USA
The eligibility requirements for an MS in finance course in USA can vary slightly between universities, but generally, the following criteria are commonly required:
Academic qualifications:
Bachelor's degree: Applicants must have a bachelor's degree from an accredited institution. A degree in finance, economics, accounting, or a related field is often preferred.
GPA: A strong academic record with a minimum GPA requirement, usually around 3.0 on a 4.0 scale.
Standardised tests:
GRE/GMAT: Many programs require GRE or GMAT scores. Some programs may waive this requirement based on prior academic performance or professional experience.
English language proficiency: For international students, the IELTS score is required to demonstrate English language proficiency. Minimum score requirements vary but are typically around 6.5-7.0 band is required.
Work experience:
While not always mandatory, some programs prefer applicants with relevant work experience in finance or related fields.
Letters of Recommendation(LOR):
Most programs require two to three letters of recommendation from academic or professional references who can attest to the applicant's qualifications and potential for success in the program.
Statement of Purpose (SOP):
A well-written statement of purpose or personal statement explaining the applicant's career goals, reasons for pursuing an MS in finance, and how the program aligns with their professional aspirations.
Resume/CV:
An updated resume or curriculum vitae detailing the applicant's academic background, work experience, internships, research, and any relevant skills or certifications.
Note: It's essential to check the specific requirements of each university, as they can have unique criteria or additional requirements. This information can typically be found on the program's official website.
How IELTS can help you study MS in finance in USA?
Achieving a high score on the IELTS, not only helps you to meet the requirements but also sets you up for a successful and enriching academic journey in the USA.
Proof of English proficiency: IELTS is widely accepted by 3400+ US institutions as proof of your English language skills, which is a critical admission requirement for MS in finance programs.
Enhance your application: A high IELTS score can strengthen your application, demonstrating your ability to succeed in an English-speaking academic environment.
Meet visa requirements: A good IELTS score can also support your student visa application, as it shows you have the necessary language skills to live and study in the USA.
Preparation for academic challenges: The IELTS exam tests your listening, reading, writing, and speaking skills, ensuring you are well-prepared for the rigorous coursework and communication demands of an MS in finance program.
Competitive edge: With an excellent IELTS score, you can stand out in a competitive applicant pool, potentially opening doors to scholarships and assistantships.
Smooth transition: Good English skills, proven by your IELTS score, can help you adapt more easily to the new academic and social environment in the USA, facilitating a smoother transition and better integration.
Jobs after studying MS in finance in USA
Here are some of the best jobs you can get after studying MS in finance courses in USA:
Financial Analyst
Investment Banker
Portfolio Manager
Risk Manager
Financial Consultant
Corporate Financial Manager
Equity Research Analyst
Wealth Management Advisor
Financial Planner
Credit Analyst
Explore more: Jobs in USA for Indian students
If you are also interested in studying MS in finance in USA then it is recommended to take an IELTS test first to start your journey. If you want to know more about the IELTS then get in touch with your nearest IDP IELTS test centre. Our team of IELTS experts will answer all your questions.
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