Masters in Finance in the USA

Finance involves managing money, investments, and financial risks for individuals, companies, and organizations. You will analyze financial data, manage investments, evaluate market trends, and ensure efficient allocation of resources.

The financial services sector is expected to grow by 15% between 2019 and 2029. To capitalize on this opportunity, specializing in areas like international finance through a master's degree is essential.

Masters in Finance in USA: Overview

A masters in Finance degree prepares you for a wide range of job positions in financial services, investment management, corporate finance, and banking. You will gain in-depth insights into financial markets, data analysis, and strategic decision-making.

Key highlights for Masters in Finance:

Parameter	Details
Duration	1 - 3 years
Intakes	Fall (September) Winter (January) Summer (May)
Course Level	Master of Finance (MFin) Master of Financial Engineering (MFE) MBA with Finance Concentration
Top Universities	University of Pennsylvania University of Chicago Columbia University
Average Annual Tuition Fee	$30,000 - 90,000 (INR 26L - 78L)
Entrance Exams Required	TOEFL: 90+ IELTS: 6.5 - 7.0 GRE: 310-325
Eligibility Criteria	GPA: A minimum GPA of 3.0 is usually required Bachelor’s Degree: A bachelor's degree from an accredited institution Work Experience: Universities prefer applicants with 1-2 years of relevant work experience in finance, consulting, or related fields.
Career Opportunities	Financial Analyst Investment Banker Portfolio Manager
Popular Specializations	Corporate Finance Asset Management Risk Management

After exploring masters in finance programs offered in the US, let's take a look at the top universities offering these programs.

Top Universities to Study Masters in Finance in USA

Universities like Utah and Texas offer master's programs such as MBA and MS with a specialization in finance.

Here are some top universities offering masters in finance programs in the US.

University	Program	Tuition Fees	Duration and Intake
St John’s University	MBA (Finance)	$1,575 per credit (INR 1.3L)	1.5 - 3 years Deadlines: Rolling admission
University of Scranton	MS Finance	$965 per credit (INR 83.7K)	1 year Deadline: Rolling admission
Sacred Heart University	MS ( Finance and Investment Management)	$1,250 per credit (INR 1L)	1.5 years Deadline: Rolling admission
University of Utah	MS Finance	$37,500 (INR 32.5L)	9 months Deadline: April 1 (Fall) October 1 (Spring)
The University of Texas	MS Finance	$55,500 (INR 48.1L)	10 months Deadline: April 8, 2025 (Round 3)
Temple University	MS ( Quantitative Finance and Risk Management)	$1,165 per credit (INR 1L)	10 - 22 months Deadline: June 30 (Fall)

Top Universities to Study Masters in Finance in USA without GRE and GMAT

Some top universities, such as Northeastern University and the University of Buffalo, offer masters in Finance programs without requiring GRE/GMAT scores.

University	Course
Northeastern University	MS in Finance
The University of Buffalo	MS in Finance
The University of Iowa	Master of Finance
Golden Gate University	MS in Finance
University of Colorado Boulder	MS in Finance
Drexel University	MS in Finance

After exploring the top universities offering masters in finance in the US without GRE or GMAT, let's take a look at the eligibility criteria for applying.

Masters in Finance in USA: Eligibility Criteria

To apply for a masters in finance in the US, you need documents like your GPA, English language test scores (TOEFL), resume, and work experience.

Here’s a breakdown of different requirements.

Academic Criteria

Academic requirements include a minimum GPA, relevant educational qualifications, and standardized test scores (if required).

Specifics	Details
Educational Qualifications	A bachelor's degree from an accredited institution is typically required.
Academic Score	A minimum GPA of 3.0 is usually required. In some cases, weightage will also be given to work experience.
Transcripts	Official academic transcripts from previous institutions to verify academic credentials.
Standardized Test Score	Most programs need GMAT or GRE scores, though some may waive this requirement for applicants with strong academic performance or relevant work experience.
Preferred Undergraduate Courses	A bachelor's degree in a related field like finance, economics, business, or accounting is preferred.

English Language Criteria

International students must display proof of English language proficiency through IELTS, TOEFL, or Duolingo test scores.

English Language Test	Minimum Score
IELTS	6.5-7.0 (varies)
TOEFL	90+ (varies)
Duolingo	100-120 (varies)
PTE	58-65 (varies)

Miscellaneous Criteria

Apart from academic and English language requirements, applicants must also submit work experience, an updated resume, and letters of recommendation.

Specifics	Details
Work experience	Universities prefer applicants with 1-2 years of relevant work experience in finance, consulting, or related fields.
Statement of Purpose	It must outline your career goals, reasons for pursuing a finance degree, and why you’ve chosen that specific program.
Student Visa	You need a F-1 student visa to study in the US. Required documents include the I-20 form, proof of funds, and visa application.
Letters of Recommendation	You may need 2-3 letters from academic professors or professional supervisors.
Proof of Funds	You need to show you have sufficient amount to cover tuition and living expenses for the duration of the program.
Resume/CV	It must highlight your academic background, work experience, skills, and extra-curricular activities relevant to finance.

After reviewing the requirements to apply for a masters in finance in the USA, let’s explore the steps involved in the application process.

Masters in Finance in USA: Application Process

You need to apply to individual universities and upload the required documents. After receiving the acceptance letter, you can apply for a student visa.

Here are the steps involved in applying for a masters in finance in the US.

1. Step 1: Research About Requirements

Research specific requirements such as work experience, GMAT/GRE scores, and language proficiency) needed to apply for the program.

2. Step 2: Fill out the Online Application Form

Complete the online application on the university’s website. Submit required documents such as:

Academic transcripts
Statement of Purpose (SOP)
Letters of Recommendation (LORs)
GMAT/GRE scores (if required)
English proficiency test scores (TOEFL/IELTS)
Resume/CV
Proof of funds (for international students)

3. Step 3: Attend Interview

Some universities may require interviews as part of the selection process. Be ready to discuss your academic background, work experience, and career goals in finance.

4. Step 4: Check the Application Status

Regularly check your application status through the university’s portal for updates. You may be asked to provide additional documents or clarification during the review process.

5. Step 5: Apply for Student Visa

Once you get an acceptance letter from the university, apply for an F-1 student visa using the following documents:

I-20 form (issued by the university)
Visa application form (DS-160)
Visa interview
Proof of funds (bank statements, financial documents)
Health insurance documents (if applicable)

Also Read: USA F-1 Visa Requirements for Indian Students

Now that you're familiar with the application process for a masters in finance in the USA, let’s take a look at the costs involved in studying there.

Cost of Studying Masters in Finance in USA

The cost of studying for a masters in Finance in the US includes tuition fees, housing, food, and course materials. Additionally, you may also need to budget for health insurance in some cases.

Purpose	Annual Expenses
Tuition fees	$19,000 to $80,000 (INR 16.5L - 69.4L)
Housing and food	$15,000 - $25,000 (INR 13L - 21.6L)
Books and course materials	$1,000 - $2,000 (INR 86.7K - 1.7L)
Transport	$500 - $1,500 (INR 43.3K - 1.3L)
Miscellaneous cost	$2,000 - $4,000 (INR 1.7L - 3.4L)

After budgeting for the costs involved in studying for a masters in finance in the USA, let’s explore the course structure.

Masters in Finance in USA: Course Structure

In addition to core subjects like financial accounting and risk management, you can specialize in areas such as international finance. You'll also have the opportunity to engage in capstone projects and research activities.

Course Type	Programs
Core Subjects	Financial Accounting Corporate Finance Investment Management Financial Markets and Institutions Quantitative Methods for Finance Risk Management Financial Modeling Economics for Finance Derivatives and Financial Instruments
Electives or Specialization	Private Equity and Venture Capital Mergers & Acquisitions Real Estate Finance Behavioral Finance Hedge Funds Investment Banking Financial Technology (FinTech) International Finance
Other Offerings	Internships with leading financial institutions, investment banks, or consulting firms. Capstone projects where students work on solving real financial problems. Research projects in areas such as financial markets, investment strategies, or corporate finance. Participation in case competitions and finance challenges.

After reviewing the subjects, let’s explore scholarship opportunities for students.

Masters in Finance in USA: Financial Aid and Scholarships

Students planning to pursue a masters in finance in the USA can apply for Tata Scholarships and Fulbright to cover tuition and expenses.

Scholarships	Details
Inlaks Shivdasani Foundation scholarship	The scholarship offers financial support to Indian students pursuing graduate or postgraduate studies at top universities abroad. The financial aid covers tuition fees, living expenses, travel costs, and health insurance.
Tata Scholarship	The Tata Group sponsors this scholarship and offers financial assistance to Indian students wishing to study at Cornell University. It covers complete tuition fees and living expenses for up to four years.
Stanford Reliance Dhirubhai Fellowship	This scholarship offers financial support to Indian students admitted to Stanford’s MBA program. The amount covers tuition fees, living expenses, and travel expenses.
Fulbright Fellowships	The Fulbright-Nehru Fellowship funds Master’s degrees in the USA for Indian students. The amount covers tuition fees, airfare, living stipends, and health insurance.

Now that you’ve explored scholarship options for a masters in Finance in the USA, let’s look at the subjects covered in the course.

Potential Job Opportunities after Masters in Finance in USA

After completing a masters in Finance, you can apply for roles such as investment banker or wealth manager, which require strong financial management skills.

Job Role	Average Annual Salary
Financial Analyst	INR 6L
Investment Banker	INR 11L
Wealth Manager	INR 6L
Portfolio Manager	INR 9L
Actuary	INR 10L

Source: Glassdoor

Top Recruiters for Masters in Finance in the World

Masters in finance graduates can get jobs like financial analyst and risk analyst in top companies like JP Morgan and Citi Group.

Company	Job Role	Average Annual Salary
Goldman Sachs	Investment Banker	INR 38.8L
J.P. Morgan	Financial Analyst	INR 12.5L
Citi Group	Risk Analyst	INR 15.4L
Boston Consulting Group (BCG)	Business Consultant	INR 55.8L
Morgan Stanley	Wealth Manager	INR 24L

Source: Ambitionbox

Popular Industries Recruiting Masters in Finance

Industries like corporate finance and venture capital hire masters in finance graduates for specialized roles like financial analyst and wealth manager.

Industry	Potential Job Roles
Asset Management	Portfolio Manager Investment Analyst Wealth Manager
Corporate Finance	Financial Analyst Corporate Finance Manager CFO
Venture Capital	Venture Capital Analyst Investment Associate Deal Sourcing Manager
Risk Management	Risk Analyst Risk Manager Credit Analyst
Insurance	Actuary Insurance Analyst Risk Assessor

After exploring the potential job roles and top recruiters after a masters in finance in the US, let’s look at the benefits of pursuing this degree in the US.

Why Pursue a Masters in Finance in USA?

Pursuing a masters in finance from the US offers the opportunity to study under experts at top colleges like Stanford, with high job potential after graduation. You can also secure internships with leading firms like Goldman Sachs and Morgan Stanley.

Here’s why a masters in finance in the US can be beneficial.

Access to Modern Tools and Technologies

Students will be trained to use advanced software and tools such as Excel for financial modeling, Bloomberg Terminal for real-time market data, and SAS and R for statistical analysis.

High Salary Potential

Graduates from top-tier US institutions, such as Harvard, can get higher salaries in competitive roles like investment banking, asset management, and corporate finance.

Industry Certifications

Many institutions offer opportunities to earn valuable industry certifications, such as the CFA (Chartered Financial Analyst) or FRM (Financial Risk Manager).

Post-study Work Benefits

After graduation, you can apply for the Optional Practical Training (OPT) program, which allows you to stay in the country for up to 12 months (or up to 36 months for STEM graduates).

Availability of Specialization

Specializations like corporate finance, financial risk management, and fintech help you align your studies with specific career goals, such as risk management.

After exploring the benefits of studying for a masters in finance in the US, let’s look at some tips for choosing the right program.

How to Choose the Right Program and University for Masters in Finance in USA?

When choosing a masters in finance program, consider factors like global reputation (QS, THE rankings), cost of living, and course flexibility (including specializations) to align with your goals.

Here are the factors you must consider while choosing a program.

Global Ranking

Consider the university's global ranking, such as QS and THE rankings. Top-ranked universities like Wharton are known for their high-quality faculty, strong research output, and extensive alumni network.

Duration of Course

Shorter programs offer a more intense, accelerated learning experience, while longer programs may provide opportunities for internships or in-depth specializations.

Internship Opportunities

Universities like Columbia University offer well-structured internship programs with top firms in investment banking, private equity, and asset management.

Cost of Studying

The annual cost to study and live in the US ranges from $40,000 (INR 37.4L) to over $100,000 (INR 86.7L) annually. Consider the potential return on investment (ROI) based on the program’s reputation and your future earning potential.