MSc in Finance in USA: Fees, Syllabus, Salaries, Top Companies & More
Masters in Finance is one of the most desirable career options among students in the fields of finance & management. The financial degree helps students pursue their careers in the fields of investment banking, risk management, financial analysis & consulting, asset management, etc.
The research methodologies combined with theoretical knowledge ensure the professional development of the students, providing attractive job opportunities & high salaries.
- Why Study Master’s in Finance in the USA?
- Best Universities for Masters in Finance
- Eligibility Criteria For Admission to Masters in Finance
- Scholarships for Pursuing Masters in Finance in the USA
- Careers after Masters in Finance in the USA
- Top Recruiters & Average Salaries after Masters in Finance
- Conclusion
- FAQs
Why Study Master’s in Finance in the USA?
The USA is one of the desired destinations for students. Job opportunities, future prospects, exposure, top universities & high salaries are the pull factors that attract lakhs of students to the USA. The presence of global companies ensures career growth & better opportunities. Moreover, the course allows students to widen their financial understanding. The diversified roles provided in it make it popular among students.
Best Universities for Masters in Finance
The USA is the hub of the best universities that have developed infrastructure, placement opportunities, advanced research methodologies & highly efficient academic cells. Some of the best universities to pursue a master’s in finance are given below:
| University | Rankings by Subject | Course Name | Duration |
|---|---|---|---|
| MIT Sloan School of Management | 4 | Master of Finance | 12-18 months |
| UC Berkeley (Haas) | 5 | Master of Financial Engineering | 12 months |
| UCLA Anderson School of Management | 9 | Master of Financial Engineering | 12-13 months |
| Texas MC Combs | 27 | MS in Finance | 10 months |
| USC (Marshall) | 30 | MS in Finance | 16 months |
| University of Florida (Warrington) | 31 | MS in Finance | 12 months |
Eligibility Criteria For Admission to Masters in Finance
To pursue a master’s in finance, students need to meet the following eligibility criteria:
- Duration: 12-18 months
- Educational Background: A bachelor’s degree from a recognised institute/university in Business/Finance/Accounting or related field.
- English Proficiency: IELTS/ TOEFL/ PTE/ Duolingo Test
- GMAT: A GMAT score above 700 (655 for Focus Edition) is considered good for getting admission into a reputed university. However, some universities might not require GMAT scores for admission.
- Letter of Recommendation: Students might require 2-3 LORs for admission.
- SOP: A standout SOP for a master’s in finance is required for admission.
- Interviews: Universities also conduct interviews to make an overall assessment of the students.
Scholarships for Pursuing Masters in Finance in the USA
Scholarships & financial aid play a key role for international students. It reduces financial strain & provides monetary help for pursuing a course. Some scholarships (general and for Indian students) are listed below.
Indian Scholarships
| Scholarships | University | Eligibility |
|---|---|---|
| Inlaks Shivdasani Scholarship | MIT Sloan School of Management | Applicable for Indian students |
| Merit-based Scholarship | UCLA Anderson | Applicable for Indian & International Students |
| Golden Scholarship | MIT, Boston, Columbia University | Applicable for Indian students |
General Scholarships
| Scholarships | University | Eligibility |
|---|---|---|
| Forte Fellowship | UCLA Anderson | Applicable for international students |
| Consortium Fellowship | UCLA Anderson | Applicable for international students |
| McCombs School of Business Scholarship | McCombs School of Business | Applicable for international students |
Also read – Ways to Fund your Overseas Education
Careers after Masters in Finance in the USA
Students, after completing this course, get an opportunity to work as financial analysts, consultants, accountants, investment managers, etc.
Financial Analyst
A financial analyst is responsible for predicting the return on investment for different stocks & business ventures. The job of an analyst is to collect & organise the financial statements and analyse data to identify trends, opportunities & potential issues. The salary of a financial analyst is $79,150 annually.
Investment Banker
Another career offered after a master’s in finance is investment banking. An investment banker helps companies & governments to raise capital through issuing stocks, bonds, or other financial instruments. They are also responsible for providing strategic financial advice to corporations on various financial matters. An investment banker gets a yearly salary of $173,082 or INR 1,44,47,241.
Accountant
The role of an accountant is crucial in maintaining financial integrity & transparency. He is responsible for auditing, tax compliance, budgeting & forecasting. The job of an accountant is to provide financial advice to clients on matters like cost reduction, financial risk management, etc. A student graduating as an accountant can expect an annual salary of $63,764.
Risk Manager
The role of a risk manager is diverse, as he/she is responsible for risk identification, assessment, monitoring, etc. They play a key role in identifying potential risks and safeguarding the assets of an organisation or company. A risk manager receives INR 85,90,032 or $102,911 annually.
Consultant
Consultants analyse issues, challenges & opportunities faced by the clients. They offer advice & recommendations through analysis & research that help enhance the overall performance of the clients. The average salary received by a consultant is $121,811.
Top Recruiters & Average Salaries after Masters in Finance
Students, after completing this course, are offered high salaries at top companies. Some of them include Bain & Company, Silicon Valley Bank, Citigroup Inc., Ernst & Young, Deloitte, etc. The top roles offered by the companies are investment bankers, consultants, risk managers, etc.
The table listed below gives a detailed list of the roles & average salaries received after a master’s in finance:
| Roles | Average Salary (per annum) |
|---|---|
| Investment Banker | $173,082 (INR 1,44,47,241) |
| Financial Analyst | $79,150 (INR 66,06,690) |
| Consultant | $121,811 (INR 1,01,67,625) |
| Risk Manager | $102,911 (INR 85,90,032) |
| Accountant | $63,764 (INR 53,22,412) |
Conclusion
Master’s in finance is an exceptional career for students who are aspiring to pursue their career in the fields of finance, business & management. The theoretical & practical knowledge helps students to understand trends and opportunities, analyse & organise data, etc. The practical application & research methodologies offer better opportunities, high salaries & top roles to young & ambitious graduates.
FAQs
Is GRE & GMAT compulsory for masters in finance in the USA?
Yes, the GRE & GMAT are required & are a part of the eligibility criteria for pursuing a master’s in finance. However, some universities might not need the GRE score as a part of the admission process.
What is the average tuition fee for pursuing a master's in finance?
To pursue a master’s in finance, the average tuition fee is $20,000-50,000 yearly. However, some universities offer scholarships & financial aid that allow students to pursue their dream courses.
What are the job opportunities after a master's in finance?
Roles like investment banker, financial analyst, consultant & accountant are offered at top MNCs after pursuing a master’s in finance.
If you are an aspirant looking to study at your dream university, book an appointment with AdmitX today and start your applications early to avail yourself of all the benefits.
