Over 1.5 million Indian students study at international universities across the globe. Most of these are in the USA. Among these, a huge number of students undertake graduate courses in finance, with an MS in Finance being the most coveted one. This is because the USA offers everything you need for a successful career in finance. Whether it’s top universities, networking opportunities, or job openings, the USA delivers on all fronts.
An MS in Finance from the USA can be a significant boost for your career. It can provide you with financial expertise and open doors to advanced professional opportunities. That’s why many students choose this path. So, let’s explore more about pursuing an MS in Finance from the USA.
Top universities in the world for MS Finance in the USA
31 out of the top 100 universities for Masters in Finance (globally) are located in the USA. This gives Indian students a wide range of options to choose from.
The top 5 universities for MS in Finance include:
| Rank | University | Location | Overall Score |
| #4 | MIT (Sloan) | Cambridge (MA) | 99.1 |
| #5 | UC Berkeley (Haas) | Berkeley (CA) | 95.1 |
| #9 | UCLA (Anderson) | Los Angeles (CA) | 93.8 |
| #27 | Texas (McCombs) | Austin (TX), | 73.1 |
| #30 | USC (Marshall) | Los Angeles (CA) | 72.3 |
There are many other reputed public and private universities offering MS in Finance in the USA.
Course curriculum for MS Finance in the USA
USA universities offer exceptional curriculums for MS in Finance. Coursework usually combines theoretical knowledge with practical, real-world applications. Such a comprehensive curriculum prepares students for successful careers in the finance industry.
Now, the specific subjects vary by university, but most MS in Finance programs in the USA cover:
| Subject | What You Learn |
| Financial Accounting | Financial statements and how companies report their financial performance. |
| Financial Mathematics | Application of mathematical concepts like statistics, calculus, and probability to financial problems. |
| Corporate Finance | Analyzing and making decisions about a company’s capital structure, investments, and financial strategy. |
| Investments | Evaluating and managing different investment options like stocks, bonds, and derivatives. |
| Financial Markets and Institutions | How financial markets operate and the role of different financial institutions. |
Some programs may offer concentrations or specializations in specific areas like:
- Financial Engineering
- Fintech
- Real Estate Finance
- Risk Management
- Financial Modeling
Benefits of studying MS Finance in the USA
MS in Finance programs are available at many top universities across the globe. However, an MS in Finance from the USA offers several more advantages.
1. High earning potential
Graduates with an MS in Finance from USA universities often command higher salaries. According to the 2023 data published by the Bureau of Labor Statistics, financial analysts in the USA earn a median annual salary of $99,890. Top earners go on to make much more. This is higher than the salaries of finance professionals in other countries.
2. Access to top-quality education
As per the QS World University Rankings 2024, 31 of the top 100 universities for finance are in the USA. These institutions offer cutting-edge courses that set you up for professional success.
3. Extensive networking opportunities
the USA hosts 146 Fortune 500 companies as of 2023. Plus, there are many other startups and fast-growing companies. This provides unparalleled networking opportunities through internships, career fairs, and corporate partnerships.
4. Diverse job market
The finance sector in the USA is vast and varied. Over 7 million people are employed in finance and insurance as of 2023. This diversity offers graduates multiple career paths.
5. OPT extension opportunities
Optional Practical Training (OPT) allows you to work in the USA for up to 12 months after graduating. For STEM courses like MS in Finance, you get a 24-month extension. This gives MS in Finance students up to 36 months to gain valuable work experience in the USA.
The above benefits show the many reasons why you should pursue an MS in Finance in the USA.
Eligibility for studying Master’s in Finance in the USA
To pursue an MS in Finance in the USA, candidates must meet several eligibility criteria. These include:
- A bachelor’s degree from an accredited institution is typically required. A strong academic record with a GPA of 3.0 or above on a 4.0 scale is considered competitive
- Most universities consider GMAT/GRE scores as an indicator of academic caliber, even though these are not mandatory
- Non-native English speakers must submit TOEFL or IELTS scores. Many universities now also accept Duolingo English Test (DET) scores. A minimum score of 80-90 for TOEFL and 6.5-7.0 for IELTS is necessary. Aim for a TOEFL score of 100 or higher and an IELTs score of 7.5 or higher to get into top universities
- Work experience is usually not compulsory for an MS in Finance in the USA. However, one to three years of relevant experience can strengthen your application
- Two to three Letters of Recommendation (LOR) from academic or professional references
- A Statement of Purpose (SOP) explaining your motive for pursuing an MS in Finance. It can also include career goals and how the program aligns with your aspirations
- A detailed resume outlining academic achievements, work experience, internships, skills, and extracurricular activities
Note: The specific requirements vary by university, so check the university website before applying.
GMAT/GRE requirements for studying MS Finance in the USA
You’ll need to take the GMAT or GRE test to get admission into an MS in Finance program in the USA. These standardized tests measure your math, reading, and writing skills.
Most schools don’t have a strict cut-off score, but you’ll generally want to score at least 600 on the GMAT or 300 on the GRE. Top programs might expect even higher scores, like 700+ on the GMAT or 320+ on the GRE.
Test Waivers
Some schools might waive the GMAT/GRE requirement if you have other qualifications (for example, if you have significant work experience or an advanced degree, like an MBA). These waivers are decided on a case-by-case basis, so check the university’s website for details.
Scholarships to study Master’s in Finance in the USA
An MS in Finance in the USA can be expensive, but scholarships can help. There are several options for Indian students based on need or academic achievements.
Need-based scholarships:
- Fulbright-Nehru Master’s Fellowships
- J.N. Tata Endowment for the Higher Education of Indians
- Inlaks Shivdasani Foundation Scholarships
- Narotam Sekhsaria Foundation Scholarships
- KC Mahindra Scholarships for Postgraduate Studies Abroad
Merit-based scholarships:
- Aga Khan Foundation International Scholarship Programme
- Chevening Scholarships
- Rotary Foundation Global Grant Scholarships
Other than these options, universities also offer scholarships, so check their websites for details.
Career scope of MS Finance in the USA
An MS in Finance from the USA sets you up for a great career with many options to choose from.
The program teaches you the analytical, financial, and problem-solving skills that employers look for. Here is why students can expect a fulfilling and rewarding career after they graduate from their MS in Finance program in the USA:
- Majority of finance graduates receive job offers within six months of graduation.
- According to Payscale, those with an MS in Finance degree make an average of $80k/year.
- According to the BLS, about 911,400 job openings are expected in Finance every year between 2022-32.
- Finance is important for all businesses, big and small, and across sectors. This opens a world of career paths with opportunities in several fields.
- According to a Payscale survey, 77% of finance managers were satisfied with their jobs.
Top recruiters for MS in Finance in the USA
Graduates with an MS in Finance in the USA are highly sought after by various types of companies. The most popular employers for MS in Finance graduates in the USA include:
- Investment Banks like:
- Goldman Sachs
- JPMorgan Chase
- Morgan Stanley
- Citigroup
- Bank of America Merrill Lynch
- Asset Management Firms like:
- BlackRock
- Vanguard
- Fidelity Investments
- Consulting Firms like:
- Deloitte
- KPMG
- Ernst & Young (EY)
- PwC
- Corporate Finance Departments of MNCs like:
- Amazon
- Apple
- General Electric (GE)
- Johnson & Johnson
Beyond these, opportunities are available in boutique firms, fin-tech companies, and government agencies.
Job prospects and salaries offered after studying MS Finance in the USA
An MS in Finance opens diverse career doors. With a Master’s in Finance degree from the USA you can get high-paying jobs in various sectors. Here are some popular job roles that people get hired for after completing an MS in Finance from the US:
| Job Role | Average Annual Salary | Job Description |
| Financial Analyst | $1,11,060 | Analyze financial data to help businesses make informed investment decisions. |
| Investment Banker | $3,90,864 | Assist companies in raising capital by underwriting and issuing securities. |
| Risk Manager | $1,41,633 | Identify and mitigate financial risks to protect an organization’s assets. |
| Portfolio Manager | $1,35,362 | Manage investment portfolios for clients, making decisions on asset allocation and investment strategies. |
| Finance Manager | $1,20,918 | Oversee the financial health of an organization, managing budgets, forecasts, and investments. |
These are just some of the job options in the corporate field. Graduates can also explore careers in academia, contributing to research and teaching. Moreover, government positions are available, where graduates can apply for roles that shape economic policies and regulatory frameworks. So, with an MS in Finance from the USA, the opportunities are vast, and graduates can expect promising and rewarding career paths.
FAQs
1. What is the duration of MS in Finance in the USA?
An MS in Finance in the USA can be completed in 12-24 months if you attend full-time. Some programs offer a more flexible structure and may extend to more than 2 years. Be sure to check the specific program details of the universities you’re considering.
2. How much does a Master’s in Finance cost in the USA?
The cost of a Master’s in Finance in the USA depends on several factors.
- Prestigious universities have higher tuition fees as compared to public universities
- Programs in major cities like New York or Los Angeles tend to be more expensive
- Specialized programs with a narrower focus might have different costs
On average, expect a range of $20,000 to $80,000 per year in tuition fees. It’s important to remember that this only covers the cost of classes. You’ll also need to factor in additional expenses. These include rent, food, transportation, textbooks, course materials, and health insurance.
3. Can I pursue an MS in Finance in the USA if I have a non-finance background?
Yes, you can pursue an MS in Finance in the USA even if your undergraduate degree wasn’t in finance. However, some universities might require you to take some prerequisite courses. These courses in finance, accounting, economics, or statistics, ensure a solid foundation.
You can complete these prerequisite courses online or through the university itself.
4. Is it possible to work while studying a Master’s in Finance in the USA?
Yes, it is possible to work while studying a Master’s in Finance in the USA. Here are some important F-1 student visa rules about working while studying:
- You can work on-campus for up to 20 hours per week during the school term
- You can work full-time on-campus during school breaks (like summer vacation)
- You can get off-campus jobs under CPT if it’s a part of your curriculum. You can apply for Curricular Practical Training after completing 2 semesters
- Optional Practical Training (OPT) allows working for up to 12 months after graduation. If your MS in Finance is a STEM course you can get a 24-month extension
Note: If you use more than 12 months of full-time CPT, you lose eligibility for OPT.
5. How to select the right college for an MS in Finance in the US?
Over 100 universities in the USA offer Master’s in Finance programs. Choosing the right university for your MS in Finance is crucial. Here are some key factors to consider:
- Accreditation: Ensure the college is accredited by a recognized accrediting body.
- Course Curriculum: Check if the course curriculum aligns with your career goals and interests.
- Faculty: Look for experienced and well-qualified faculty members.
- Location: Consider the university’s proximity to financial hubs and internship/job opportunities.
- Career Support: Evaluate the strength of the college’s career support services, including placement assistance and networking opportunities.
- Alumni Network: Look for a strong alumni network that can provide valuable connections.
- Cost: Consider the tuition fees and availability of scholarships or financial aid.
- Ranking: Review the college’s ranking for MS in Finance programs.
With so many factors to consider, selecting the right university and program can be tough. That’s why we built SelectRight, which does all the number crunching for you. Once you create your profile for free on SelectRight, you can find the best universities for you based on your preferences and academic profile. You can shortlist and compare universities, and also connect with alumni, faculty, and peers for a better understanding of the programs that appeal to you.
