MS in Finance Colleges in USA: Eligibility, Fees, Scholarships & Jobs
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MS in Finance or Master in Finance in USA is a gateway to success for those looking to make a mark in the field of finance. The MS Finance course is designed to make specific careers in Corporate Finance, Wealth Management, Real Estate Finance, Quantitative Finance or Investments, and Portfolio Management. Do not confuse it with an MBA degree. An MBA degree enables graduates with the knowledge of looking into multiple aspects of businesses. Whereas, a Master in Finance degree is more finance-centric. As per the current Occupational Outlook Handbook of the U.S. Bureau of Labor Statistics, the demand for financial analysts will grow by 11 percent through 2026, faster than the average for all occupations.
One of the biggest advantages of pursuing this course in USA is that many US universities offer MS in Finance as a STEM-designated program. So, international students on an F-1 visa will be eligible for a 24 month OPT Optional Practical Training extension apart from the 12 month OPT tenure.
CFA Institute Recognition and other top certifications in Finance
Several business schools in the United States have partnered with CFA Institute through their MS in Finance programs. Thus, allowing students to sit for the Certified Financial Analysts (CFA) test. Additional professional certification such as CFA, one of the toughest credentials to be earned is recommended to begin a career in finance in the USA or anywhere in the world. CFA is perfect for those who want a fruitful career as risk analysts, portfolio managers, and consultants. Also, an association with such a prestigious global professional network can boost your professional credibility. One can also choose to sit for the Certified Financial Planner (CFP) test, an easier test compared to CFA. CFP is ideal for those interested in financial planning or wealth management and works directly with investors. Applicants to an MS in Finance program must, therefore, check the CFA® institute recognition to enhance career opportunities and get the best out of the program.
Top certifications for MS in Finance graduates to improve their professional prospects.
- Certified Public Accountant (CPA)
- Chartered Financial Consultant (ChFC)
- Financial Risk Manager (FRM)
- Certified Financial Modelling & Valuation Analyst (FMVA)
- Chartered Life Underwriter (CLU)
- Chartered Investment Counselor (CIC)
- Certified Management Accountant (CMA)
- Chartered Mutual Fund Counselor (CMFC)
- Chartered Alternative Investment Analyst (CAIA)
Also, Read: CA in Abroad
- Top universities offering MS in Finance in USA
- Eligibility Criteria for MS in Finance in USA
- Cost of studying MS in Finance in USA
- Scholarships for studying MS in Finance in USA
- Careers and job prospects after Masters in Finance in USA
Top universities offering MS in Finance in USA
US universities offer Masters in Finance or MS in Finance as a one-year or a two-year program. There are more than 50 universities in USA that offer Masters in Finance. We have given the list of top universities that offer this program.
| University |
Course |
|---|---|
| Master of Finance |
|
| Master’s in Financial Engineering |
|
| Master of Financial Engineering |
|
| MS in Global Finance |
|
| Master in Finance-Master of Science in Mathematical Finance (MSMF) |
|
| MSc in Finance |
|
| Master of Science degree in Quantitative and Computational Finance (QCF) |
|
| Master of Science in Finance (MSF) |
|
| Master in Finance |
|
| Master of Science in Finance |
Eligibility Criteria for MS in Finance in USA
USA is the top-most study destination for international students. US universities are popular for offering specialization in Business, Finance, and Management degrees. The admission process for studying MS in Finance in USA is lengthy. To simplify things, we have mentioned the eligibility criteria along with the documents required for MS in Finance in USA.
- A bachelor's degree from a recognised university
- GRE or GMAT scores
- English language proficiency by submitting IELTS, TOEFL, or PTE exam scores
Some universities ask for GRE scores while some demand for GMAT scores to give admission to masters in finance candidates. So, it is better to check with the university where you are seeking admission and then take that exam in order to meet their entry requirements. This will also save you from unnecessary hindrances during the admission process.
Documents required for master in finance in USA
Below mentioned is the list of documents required to get into master's in finance program in the USA.
- SOP (Statement of Purpose)
- LORs (Letters of Recommendation)
- Latest Resume
- GRE or GMAT scores
- IELTS, TOEFL, or PTE scores
- Academic transcripts
Cost of studying MS in Finance in USA
Majorly, there are two types of costs, which a student has to bear for pursuing overseas education - tuition fees and living cost. The average first-year cost of studying MS in the USA is Rs 30.25L that including the average tuition fees is Rs 22.23L and the average living expenses of Rs 8.02L.
Note: The average first-year tuition fees are based on 4544 MS courses in USA (Source: https://studyabroad.shiksha.com/)
Note: The average living expense is based on 822 colleges in USA (Source: https://studyabroad.shiksha.com/)
Scholarships for studying MS in Finance in USA
Studying MS in USA is a costly affair and a scholarship or financial aid can ease your burden. Some of the popular scholarships for pursuing Masters in Finance in USA.
- Fulbright-Nehru Master’s Fellowships
- Fully-Funded Rotary Peace Fellowships
- McDonough School of Business Scholarship
- Columbia Business School Federal Work-Study Program
- Golden Scholarships
- Scheller College of Business Graduate Assistantships
Careers and job prospects after Masters in Finance in USA
MS in Finance graduates can expect above-average wages for all occupations. The US is a hub of financial activities that occurs across the world. There is a lot of scope for Masters in Finance graduates in USA.
Top recruiters in the USA for Masters in Finance graduates
- P.Morgan Chase & Co.
- Fidelity Investments
- KPMG, LLP
- Morgan Stanley
- EY (Ernst & Young)
- American Express
- Boeing
- Accenture
- Citi Group
- Bloomberg
Is MS in finance worth it in USA?
Yes, is there will plenty of job opportunities in this field. As per the U.S. Bureau of Labor Statistics, the demand for financial analysts will grow by 11 percent through 2026. Also, it has projected job growth of 5% in financial and business occupations for the next 10 years.
Is MS in Finance is recognised as a STEM degree in the USA?
The MS in Finance Program is recognised as a STEM (Science, Technology, Engineering, and Mathematics) certified program in the USA in various universities.
There is no minimum GPA score for UG admission at Ohio State. However, International students must have a cumulative GPA of at least 3.0 (on a 4.0 scale or equivalent) for graduate admission. Applicants may submit a standardized test score (GRE or GMAT) if their cumulative GPA is below 3.0 for the last degree.
According to various sources, University of Texas San Antonio has an overall acceptance rate of around 87% which makes it somewhat selective for international student admissions. Some of the general requirements to be considered for admission are given as follows:
- SAT/ACT scores
- Overall Student's GPA
- Letters of Recommendation
- High School Class Rank
- Additional Academic Records
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Statement of Purpose
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The University of South Dakota expects a GPA score of 2.5 from undergraduates and 3 from postgraduates on the 4-pointer scale. Along with the GPA scores, undergraduates must meet the basic eligibility and submit an ACT score of 21 or higher and an SAT score of 1070 or higher. In addition, they must submit the required documents, such as academic history, transcripts, letters of recommendation, English language scores, and more.