Top Universities in the USA for an MS in Finance 2024: Rankings, Tuition Fees, Eligibility & More

The QS Business Master’s Rankings for 2024 indicate that MIT Sloan, UC Berkeley (Haas), and UCLA (Anderson) are the top three universities in the USA for an MS in Finance. These programs are highly sought after and provide numerous opportunities for graduates.

The tuition for an MS in Finance at these top universities can range from $37,662 to $124,875 per year. Most top-ranking universities generally require a minimum GPA of 3 to 3.75 for admissions. Additionally, applicants must submit their GMAT/GRE scores and English test scores.

After completing an MS in Finance from top universities in the USA, graduates can earn impressive salaries, with potential earnings of $137,000 or more. This high earning potential makes the investment in these programs worthwhile.

Some of the popular and high-paying job roles for graduates include:

• Cyber Risk Analyst
• Advisory Consultant
• Data Scientist
• Derivatives Pricing Evaluator
• Game Test Engineer
• Global Data Analyst
• Junior Quant Analyst
• Model Validation Analyst
• Product Specialist
• Quant Trader Strategist
• Quantitative Research Associate

Key facts about persuing an MS in Finance in the usa

Top universities in the USA for an MS in Finance

Here’s a list of the top 10 MS in Finance universities in the USA, along with their tuition fees, rankings, and application deadlines:

*The costs are estimates, and specific information may vary. 

Now, let’s explore the top 3 universities and their MS in Finance programs more closely.

1. MIT Sloan

Website: https://www.mit.edu/

Ranking: #4 in the QS Business Master’s Rankings 2024: Finance (Global)

The Master of Finance program at MIT Sloan has a 100% employment rate. Students of this program receive job offers within 6 months after their graduation. 

The program offers four concentrations: Impact Finance, Financial Engineering, Corporate Finance, and Capital Markets. The average class size is 127, and 89% of the students are international. 

Students are required to have a minimum GPA of 3.83 to apply for the program. MIT Sloan also accepts the GRE/ GMAT for admission. The median GRE Quant score requirement for the program is 169.

Application deadline: January 3, 2025

Application fee for international students: $150

Tuition fees for international students: $124,875 for an 18-month-long and $91,250 for a 12-month-long program

2. UC Berkeley (Haas)

Website: https://haas.berkeley.edu/

Ranking: #5 in the QS Business Master’s Rankings 2024: Finance (Global)

The Master of Financial Engineering at UC Berkeley (Haas) is a great option for students looking to launch careers in finance, technology, or data science. 

According to CFAR ranking 2023, MFE at UC Berkeley is the #1 program for Finance Research in the country. TFE Times 2023 also ranked the program at #1 in its category in the USA. 

According to the university, 96% of the students from the Class of 2023 received full-time job offers after graduating. Some of the career paths open for students who graduate from this program are in the following functions:

• Data Science
• Stats and Data Modeling
• Risk Management
• Portfolio Management
• Quantitative Research and Analysis
• Quantitative Developer
• Consulting 
• Structuring/ Sales and Trading 

Application deadline: October 3, 2024

Application fee for international students: $275

Tuition fees for international students: $82,901 (for Spring 2024 to Winter 2025)

3. UCLA Anderson School of Management

Website: https://www.anderson.ucla.edu/

Ranking: #9 in the QS Business Master’s Rankings 2024: Finance (Global)

The Master of Financial Engineering program at UCLA’s Anderson School of Management is ranked #3 in the USA by the QS World University Rankings. The student-faculty ratio for the program is 4:1, and 90% of the faculty is full-time. With a 97% employment rate and a 100% summer internship rate, the program promises excellent career outcomes. Graduates can earn an average salary of $137,000 per annum. 

Application deadline: December 31, 2024; March 1, 2025; and April 30, 2025

Application fee for international students: $200

Tuition fees for international students: $93,120 for the program

How to choose the best MS in Finance university in the USA? 

When considering an MS in Finance at a university in the USA, you need to evaluate many factors, from an institution’s accreditation to the program’s curriculum, the reputation of the faculty, and the program’s rankings. With hundreds of universities offering this program, researching them thoroughly to find the right fit can be overwhelming and time-consuming.

However, there’s a way to drastically reduce your research time: SelectRight will do the work for you. SelectRight uses over 8 million data points across 40,000+ programs to provide you with unbiased, personalized recommendations.

Here’s how SelectRight works:

1. Create an account and complete your profile.
2. Enter your preferences, such as desired course, budget, and location.
3. Receive personalized program recommendations based on your profile.
4. Compare the recommended programs on various criteria, such as rankings and faculty reputation.
5. Connect with alumni and experts for further insights and finalize your choice.

Using SelectRight, you can ensure that your university selection is data-driven and tailored to your needs. Sign up on SelectRight today and find the best university for Spring ‘25 admissions.

Application process to top USA universities for an MS in Finance

Different universities in the USA have different application processes for their MS in Finance programs. However, there are some common steps that most universities follow. To help you understand it better, we’ll take the example of the University of Texas’ application process:

Step 1: Complete your online application

Begin with navigating through the program page to get to the online application form and add the following details:

• Personal & family information
• Test scores
• Education information and academic supplements 
• Employment history
• Essay questions
• Letters of recommendations

Step 2: Complete your program checklist

This step requires you to provide documents supporting your graduate program eligibility claims. You will have to:

• Pay an application fee
• Submit test scores (GRE/ GMAT and IELTS/TOEFL)
• Submit your official academic transcripts

Step 3: Complete your video assessment/ interview

After you complete the first two steps, the university sends you a video assessment link within 24 hours. You’ll have about 7 days to complete and submit the assessment. 

Once you have completed all these steps, you can track the status of your application. The university sends you a decision before the deadline.  

Eligibility for studying an MS in Finance at the top USA universities

The eligibility criteria for studying an MS in Finance at the top universities in the USA vary across programs. 

For instance, UCLA Anderson School of Management requires an average GPA of 3.75, whereas Boston Questron School of Business requires 2.70. Similarly, the University of Maryland Robert H. Smith School of Business requires an overall minimum GPA of 3.4, and Georgetown University McDonough School of Business, on the other hand, requires 2.70.

This applies to the TOEFL and IELTS scores as well. Most universities require a total score of 100 in the TOEFL and a minimum band of 7 in the IELTS. However, this may vary greatly across institutions. So, it’s important that you go through the university’s official website and understand the precise requirements. 

In general, you will need to meet the eligibility criteria of top USA universities for an MS in Finance:

• A bachelor’s degree from an accredited university
• Relevant work experience
• Academic test scores (GMAT/ GRE)
• English test scores (IELTS/ TOEFL)
• Letters of recommendation
• Personal statement/ essays
• An updated resume

GMAT/GRE requirements for studying an MS in Finance in the USA

Let’s have a look at the data from some of the top universities in the USA for an MS in Finance to understand their GMAT/GRE requirements:

• The median GRE Quant score at MIT Sloan for the MS in Finance program is 169.
• UC Berkeley (Haas) requires an average GRE Quant score percentile of 92%.
• UCLA Anderson School of Management requires an average Quant GMAT score of 90% and a total GMAT score of 720 or above.
• The University of Maryland requires an average GMAT score of 640.

Apart from these minimum score requirements, students must know that not every university accepts or requires them to submit GMAT/GRE scores. 

Here’s a list of the top 10 MS in Finance universities in the USA and their GMAT/GRE requirements: 

Scholarships to study an MS in Finance in the USA

Here’s a list of scholarships you can explore to study an MS in Finance at the top universities in the USA:

Education loans for an MS in Finance in the USA

Here are some steps you need to follow to get an education loan for an MS in Finance at top USA universities:

• Research multiple education loan providers (banks, non-banking financial institutions, etc).
• Compare their interest rates, repayment terms, processing fees, etc. 
• Shortlist the ones that fit your profile the best. For instance, if you can’t provide collateral for your education loan, go for a lender that provides no-collateral loans and considers your application eligible. Similarly, to cover 100% of your education cost, go for lenders that provide 100% financing. 
• After finalizing, apply for a loan online and provide documents such as your and your co-signer’s bank statements, collateral documents, admit letters issued from the university, etc. 
• If everything goes well, the lender will disburse your education loan. 

This process could take you several weeks.

To escape the daunting experience of manually researching and comparing loan options, you can use FundRight. Finding the right lender can be overwhelming and time-consuming. You may spend weeks visiting banks, comparing rates, and submitting applications, but you still feel unsure if you secured the best deal. FundRight simplifies this entire process. Here’s how it works: 

1. Create an account on FundRight and complete your profile. 
2. Receive competitive loan offers from 15+ top lenders in just two days. 
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4. Upload your documents securely. 
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Start your education loan journey for the Spring 2025 intake on the right footing. Get education loan offers by signing up on FundRight today. 

Benefits of studying an MS in Finance in the top universities in the USA

Here are 3 benefits of studying at top USA universities for an MS in Finance: 

1. Career opportunities

96% of graduates from the 2023 batch at UC Berkeley (Haas School of Business) received full-time job offers. MIT Sloan boasts a 100% employment rate for its Master of Finance program. At UCLA (Anderson), 97% of the students from the Class of 2022 received employment within 6 months of graduation. This shows that after your MS in Finance at one of the top universities in the USA, you are very likely to get a job offer. 

2. Quality education

Some of the highest-ranking universities in the world that offer an MS in Finance are in the USA. With massive research budgets, expert faculty, and cutting-edge curriculums, these universities attract students from all over the world.

3. Customizable program

Universities in the USA allow you to customize your MS in Finance program based on your special interests. Be it risk management, quantitative portfolio, equity, or fixed income, you can get access and exposure to the latest techniques used in statistical data analysis and financial technology. This allows you to explore new frontiers like algorithmic trading and machine learning.

Career and job opportunities after an MS in Finance from the top USA universities

Your salary after an MS in Finance will vary depending on your university, skills, specialization, employment industry, location, and other relevant factors. 

For example, the average annual salary for the Class of 2022 at Boston University’s MS in Mathematical Finance program was $90,400. In the same year at UCLA Anderson, the average annual salary was $137,000. At the University of Texas Austin, on the other hand, the average annual salary range for the MSF Class of 2023 was $72,000 – $86,000.

Here are some common career paths, job roles, and recruiters you may encounter after graduating with an MS in Finance from top USA universities:

FAQs–Top universities in the USA for an MS in Finance 2024

Which universities offer the best MS in Finance programs in the USA?

Ans. Some of the top universities offering the best MS in Finance programs in the USA are MIT Sloan, UC Berkeley (Haas), UCLA Anderson School of Management, Texas (McCombs), USC (Marshall), University of Florida Warrington College of Business, Boston University (Questrom School of Business), Georgetown University McDonough School of Business, The University of Maryland, Robert H. Smith School of Business, and Georgia Tech (Scheller).

What career opportunities are available after completing an MS in Finance from top USA universities?

Ans. After completing an MS in Finance from top USA universities, you can explore careers in the following areas: Fixed-Income Securities, Investment Banking, Algorithmic Trading, Risk Management, Proprietary Trading, Asset Management, Financial Product Design And Implementation, Financial Advising, and Derivatives Pricing.

What are some companies that hire more MS in Finance graduates in the USA?

Ans. Some companies that recruit MS in Finance graduates in the USA are Acadia, E&Y, Alibaba, Allianz, Capital One, Goldman Sachs, Bank Of America, Deutsche Bank, Barclays, and J.P. Morgan.