Summary
- Among the various courses, an MBA in Finance is a popular choice for Indian students studying in the USA.
- Most MBA in Finance programs are STEM-designated, so you can stay and work in the USA for an additional 2 years after graduation.
- The MBA in Finance program in the USA is a prestigious but expensive degree.
The United States is among the most preferred destinations for Indians to study abroad. 25% of the 1 million international students in the USA are Indians.
Among the various courses, an MBA in Finance is a popular choice for Indian students studying in the USA. This popularity is due to several factors: renowned business schools, extensive networking opportunities, high-paying job prospects, and more.
An MBA in Finance from the USA is like a career supercharger. It builds a solid foundation in financial management and opens doors to better opportunities.
Let’s learn more about getting an MBA in Finance from the USA.
Top universities for MBA in Finance in the USA
The USA is home to many top universities offering MBA programs in Finance. According to US News rankings, here are the top 5
| Rank | University | Location | Annual Fees | STEM-Designed |
| #1 | University of Pennsylvania (Wharton) | Philadelphia, PA | $79,800 | YES |
| #1 | University of Chicago (Booth) | Chicago, IL | $80,961 | YES |
| #3 | New York University (Stern) | New York, NY | $84,180 | YES |
| #4 | Columbia University | New York, NY | $84,496 | YES |
| #5 | Stanford University | Stanford, CA | $79,860 | YES |
Other top schools are:
- Massachusetts Institute of Technology (Sloan)
- Harvard University
- University of California, Berkeley (Haas)
- University of Michigan-Ann Arbor (Ross)
- Boston College (Carroll)
These institutions offer rigorous programs, extensive resources, and excellent networking opportunities. That’s what makes them ideal choices for aspiring MBA in Finance students.
Note: Top rankings are just one of the many factors that go into determining the best possible MBA in Finance program for you. With thousands to choose from, the search can quickly overwhelm you. That’s why we built SelectRight, to simplify the university and program search process for you.
Simply register for free and complete your profile. Within minutes, the AI algorithm that powers SelectRight will match your academic, personal, professional, and financial criteria to the best-suited programs, and create a shortlist for you. You can then easily compare the programs on dozens of criteria and filter down to the most preferred options. Find out your best MS in Finance program in the USA today; register on SelectRight.
Course curriculum for MBA Finance in the USA
Universities in the USA are known for their top-class MBA in Finance programs. However, the curriculum varies across these universities and B-schools. Each program offers unique perspectives that prepare students for successful careers in finance.
Here are some key common areas of focus:
| Subject | What You Learn |
| Financial Instruments and Markets | Financial instruments, their valuation methods, and how financial markets operate |
| Corporate Finance | Decision-making about capital structure, financing choices, and strategies for financial management in organizations |
| Investment Management | Strategies for managing portfolios, assessing asset prices, and evaluating risks in financial markets |
| Financial Accounting and Reporting | Analysis of financial statements, interpretation of reporting standards, and their impact |
| Quantitative Methods in Finance | Application of mathematical models and statistical tools to analyze financial data |
Important: The curricula of top programs combine theoretical foundations with practical applications. This approach prepares graduates for leadership roles in finance and related fields.
Benefits of studying MBA Finance in the USA
The MBA in Finance program in the USA is a prestigious but expensive degree. Yet thousands of Indians flock towards it due to the various benefits of studying in the USA. Some of those benefits are:
1. Top-ranked programs
Over 40 universities in the USA are ranked among the top 100 MBA programs globally (QS Ranking). This provides students with access to world-class education in finance.
2. Extensive networking opportunities
The USA provides extensive networking opportunities with industry leaders and global corporations. This enhances career prospects and facilitates professional growth.
3. Diverse job market
The USA boasts a diverse job market with abundant opportunities in finance. Jobs are available in investment banking, fintech, and corporate finance.
4. Internship and employment opportunities
Universities in the USA offer access to robust internship programs and employment opportunities. Most MBA in Finance programs are STEM-designated, so you can stay and work in the USA for an additional 2 years after graduation.
5. Global recognition and mobility
An MBA in Finance from the USA is globally recognized. This offers graduates mobility and credibility in international job markets. It also offers a competitive edge in a dynamic global economy.
Eligibility for studying MBA in Finance in the USA
To pursue an MBA in Finance in the USA, candidates need to meet specific eligibility criteria, and the exact criteria vary from university to university. However, some general prerequisites are mentioned below:
- Aptitude Tests like the GMAT/GRE
Most universities require GMAT or GRE scores. While there is no minimum score mentioned, competitive programs expect higher scores.
Also Read: GMAT vs GRE: Understand the Difference Between the GRE and GMAT
- English Proficiency Tests like TOEFL/IELTS/DET/PET
For Indian students, proof of English proficiency is a key admission requirement. TOEFL, IELTS, DET, and PET scores are commonly accepted.
Each university specifies its minimum score requirements. Do check the admission requirements for your preferred university before applying.
Also Read: TOEFL vs IELTS: Understand the Difference Between the IELTS and TOEFL
- Academic and Professional Records
- Previous Academic Records: A bachelor’s degree from a recognized institution is mandatory. Strong academic performance, particularly in quantitative subjects, is preferred.
- Professional Experience: Relevant work experience (2-5 years) can enhance your application. However, it is not required for all MBA in Finance programs.
- Other Prerequisites
- Letters of Recommendation (LORs): 2-3 LORs from academic or professional references.
- Statement of Purpose (SOP): An SOP outlining your career goals, reasons to pursue an MBA in Finance, etc. You can create an SOP that fits the requirements of your preferred university by using GradSOP, an AI-powered SOP-builder for students who wish to study abroad.
- Resume/CV: A detailed resume highlighting your academic and professional achievements.
GMAT/GRE requirements for studying MBA in Finance in the USA
Most universities offering MBA in Finance in the USA don’t specify a minimum GMAT or GRE score.
Generally, the GRE cutoff falls around 600. Similarly, a GMAT score of 700 or above is considered strong.
If you are applying to top colleges, the competition will be tougher. So make sure that your score is even higher to boost your chances of getting in.
Scholarships to study MBA Finance in the USA
The average cost of pursuing an MBA in Finance in the USA is upwards of ₹60 lakh. It is an investment with the potential for lifetime returns. But it might not be affordable for everyone.
However, the cost factor shouldn’t stop you from pursuing an MBA in Finance in the US. There are many scholarships available that can help you fund your dreams. Some top options include:
| Scholarship Name | Field/Country Covered | Max. Award Amount |
| Forté Fellowships | MBA in USA & Canada | $20,000 |
| Consortium for Graduate Study in Management Fellowship | MBA at Member Schools (including Tuck School of Business at Dartmouth College, Kellogg School of Management at Northwestern University, etc.) | Full Tuition |
| Harvard Business School Scholarships | MBA at Harvard Business School | Varies |
| Stanford Reliance Dhirubhai Fellowship | MBA at Stanford Graduate School of Business | Full Tuition |
| The India Trust Fellowship | MBA at Chicago Booth School of Business | $10,000 |
Note: This is not an exhaustive list. There may be other scholarships available that fit your criteria. You can also find university-specific scholarship opportunities on the university’s website.
Career scope of MBA Finance in the USA
There is a broad career scope for MBA in Finance graduates in the USA, with abundant opportunities across various industries.
Some key points highlighting the bright career scope for an MBA in Finance include:
1.Above-average earning potential
The median annual wage for all finance professionals was $79,050 in May 2023. This was significantly higher than the median annual wage for all occupations ($48,060).
This applies to finance professionals with various degrees. Specifically, for those with an MBA in Finance, the remuneration significantly increases.
After an MBA, finance jobs (investment banking, asset management, etc.) pay a median salary of $144,052. On the other hand, the median salary for consulting jobs after MBA is $138,992. For tech jobs, after an MBA, the median salary is $129,045.
2. Job prospects
According to the U.S. Bureau of Labor Statistics, business and financial jobs are set for rapid growth. It is projected that by 2032, there will be about 911,400 job openings annually. This shows that MBA in Finance graduates in the USA will be quickly absorbed into the job market.
3. Career growth potential
An MBA in Finance can significantly enhance earning potential. On average, graduates see an annual salary increase of up to $20,000. This makes the investment in MBA in Finance in the USA worth it.
4.Access to leadership roles
An MBA in Finance opens doors to leadership positions. Finance managers, CFOs, and senior analysts are almost always those with an MBA in Finance.
5. Diverse job options
MBA in Finance graduates in the USA can explore diverse career paths. Options include corporate finance, investment banking, financial consulting, and fintech. Graduates can select job roles aligning with their interests and career aspirations.
This broad career scope shows that pursuing an MBA in Finance in the USA is a lucrative option.
Top recruiters for MBA Finance in the USA
Finance is a vital industry. You can find well-paying finance jobs in organizations of all sizes across domains.
Some popular employers for MBA in Finance graduates in the USA include:
- Goldman Sachs
- Morgan Stanley
- Boston Consulting Group
- Bain & Company
- McKinsey & Co
There are many other top companies offering jobs to MBA in Finance graduates from the US.
Job prospects and salaries offered after studying MBA Finance in the USA
Graduates with an MBA in Finance from the USA have various career options available. These options span across sectors like investment banking, corporate finance, and financial consulting.
Here are some of the top job roles for MBA graduates in the USA and their average salaries:
| Job Role | Average Annual Salary | Job Description |
| Investment Banker | $2,17,854 | Advises companies on mergers, acquisitions, and capital raising. |
| Finance Manager | $1,87,245 | Manages a company’s financial planning and analysis. |
| Risk Manager | $1,41,633 | Identifies and mitigates financial risks for an organization. |
| Financial Consultant | $123,436 | Provides advice to clients on financial planning and investments. |
| Financial Analyst | $79,176 | Analyzes financial data to help businesses make informed decisions. |
Note: Average salaries are for the USA. These are just some options; many other jobs are available for MBA in Finance graduates.
FAQs
1. What is the duration of an MBA in Finance in the USA?
A full-time MBA in Finance in the USA takes two years to complete.
However, many universities offer flexible options. These options include:
- Part-time programs that might take three to four years
- Accelerated programs that can be completed within one year
2. How much does an MBA in Finance cost in the USA?
- The cost of an MBA in Finance in the USA varies based on the university and program type.
- The average fee for an MBA in Finance (based on the average of the top 20 schools) is $73,400. That’s upwards of ₹60 lakhs.
- Other than that, there are additional expenses like books, living costs, and other fees.
- There are various student loans available for funding your MBA in Finance in the US. You can use platforms like FundRight to find the best loan.
- You can create a free profile on FundRight and enter your personal and financial details. Based on this information, which is shared anonymously, top loan providers will bid on your profile. This allows you to compare loan terms and conditions and choose the most suitable option.
- With FundRight, you can save up to ₹23 lakhs on your study abroad loans through loan scholarships, low interest rates, and low-cost value-added services. This combination ensures you get the best financial support for your education.
3. Can I pursue an MBA in Finance in the USA if I have a non-finance background?
Yes, you can pursue an MBA in Finance in the USA even if you are from a non-finance background. Many MBA programs are specially designed to accommodate students from diverse backgrounds.
Foundational courses in finance, accounting, and economics are also available. These courses help students from a non-finance background get up to speed.
4. How important is work experience for an MBA in Finance in the USA?
Work experience is an important factor for admission to most MBA in Finance programs in the USA. Specific requirements vary by school. Usually, applicants with two to five years of experience are preferred. Some programs may also accept exceptional candidates with less experience.
5. Is it possible to work while studying for an MBA in Finance in the USA?
Yes, it is possible to work while studying for an MBA in Finance in the USA.
Indian students on an F-1 visa can work on-campus up to 20 hours per week during terms and full-time during breaks.
After the first academic year, students can also work off-campus. This is possible through Curricular Practical Training (CPT) for internships. Post course completion, students can make use of the 12-month OPT period.
Remember: Consult your university’s international student office for specific guidelines.
