At some point in their careers, nearly every professional aiming for career growth considers pursuing an MBA. The United States has always been recognized as a center of enterprise and sits at the very top of every MBA candidate's wish list. This is demonstrated by the fact that each year, more than half of all students planning to pursue management training abroad submit their GMAT scores to American institutions.
Housing some of the most renowned business schools globally, an MBA in finance in the USA provides a promising career path alongside an exceptionally high return on investment. Although this program can be finished on a part-time basis, many international students opt for full-time study to boost their market value. Want to learn more? Continue reading as this article guides you through the top universities in the USA for an MBA in finance and much more!
Why Study MBA in Finance in USA?
An MBA in Finance from the US opens up a path filled with opportunities, representing a thriving employment sector that offers strong compensation and substantial room for progression. Beyond the typical MBA finance salary in the USA, the vast array of job prospects for MBA graduates is another major draw for international applicants. Finance stands out as one of the most sought-after specializations in the US, providing numerous avenues for lucrative careers across fields like analysis, management, and related areas.
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Best Universities in USA for MBA Finance
The US serves as a focal point for many of the finest business schools and institutions offering MBA Finance programs. Leading American universities provide international students with a constantly developing entrepreneurial atmosphere together with remarkable placement rates!
Presented below is a selection of top-tier universities offering MBA Finance programs in the USA:
|
University |
Average Tuition Fees for International Students/ Year (in USD) |
|
New York University |
78,700 |
|
Harvard University |
75,400 |
|
University of Pennsylvania |
83,432 |
|
Massachusetts Institute of Technology |
81,378 |
|
Columbia University |
50,394 |
|
New York Institute of Technology |
1,400 per credit |
|
University of Texas at Austin |
53,750 |
|
Northwestern University |
76,368-105,380 |
|
Boston University |
57,025 |
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Eligibility and Requirements to Study MBA in Finance in US
Let us now examine the eligibility criteria and requirements for an MBA in Finance in the USA:
- Bachelor's degree
- English proficiency test scores
- GMAT or GRE Scores
- Work Experience
Listed below are the qualification requirements for MBA Finance programs at US universities:
- Bachelor's degree
The fundamental prerequisite for international students applying to an MBA in Finance in the USA is providing academic transcripts for every academic level. Applicants must hold a bachelor's degree to qualify for the program. Certain foundational subjects expected for an MBA in Finance in the US include:
- Mathematics
- Advanced functions
- Calculus
- English
- English proficiency test scores
As an international applicant, providing proof of English language proficiency through exams like the IELTS, TOEFL, PTE, or similar tests is mandatory. Depending on the specific university or program selected, the minimum IELTS score required to study an MBA in Finance in the USA is typically 6.5 or higher.
- GRE or GMAT Scores
Leading universities in the USA for an MBA in Finance also request GMAT or GRE scores to finalize your application. Additionally, there are institutions that offer master's in finance programs in the USA without requiring the GMAT.
- Work Experience
While many institutions recommend professional experience, it is not always mandatory. Candidates with a 3-year degree should possess one year of full-time, post-graduate work experience to stand out among fellow applicants.
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Application Process to Study MBA in Finance in USA
The procedure for applying to some of the premier MBA Finance institutions in the USA is outlined briefly below:
- Select your desired course and university to begin your MBA in Finance journey in the USA.
- Complete and submit the application form along with the applicable application fee.
- Provide all mandatory documents, including academic transcripts, a bachelor's degree certificate (if applicable), alongside supplementary materials such as an SOP, resume, LORs, and proof of work experience as requested by the chosen institution.
- You might also be required to participate in an interview process.
- Apply for available scholarships or financial assistance offered by the institution.
- Await the final admission decision.
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Cost of Studying MBA in Finance in US
Applicants should have a thorough understanding of the tuition costs associated with an MBA in finance in the USA before applying. Generally, annual tuition expenses for the program range from 19,000 USD to 77,000 USD. Beyond tuition fees at MBA Finance institutions in the US, the total budget also encompasses living costs such as:
| Types of Expenses |
Cost per month (in USD) |
|
Books and Supplies |
900 |
|
Food |
100 |
|
Apartment Housing with amenities |
16,700 |
|
Miscellaneous |
6,470 |
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Scholarships for MBA in Finance in US
Given the substantial costs associated with an MBA in Finance in the USA, most international students look for financial support to help complete their education. Several scholarships provided by prestigious business schools for studying in the USA are listed in the table below:
|
University |
Scholarship |
Award (in USD) |
|
MIT Sloan School of Management |
OGE Administered Fellowships |
Partial tuition fees waiver |
|
UCLA Anderson School of Management
|
Inlaks Shivdasani Foundation Scholarship |
100,000 for an year |
|
Gies College of Business
|
Golden Scholarships |
Partial tuition fees |
|
Scheller College of Business
|
Graduate Assistantships |
Monthly salary in exchange of 14 hours/week work commitment |
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Job Opportunities after Pursuing MBA in Finance US
The average annual salary for an MBA in finance graduate in the USA sits at approximately 160,000 USD. Students can utilize employment platforms like LinkedIn, Indeed, CareerBuilder.com, and others to showcase their updated resumes. Numerous organizations hire master in finance graduates for both full-time employment and internship roles. Some of the prominent employers hiring MBA Finance graduates from the USA are detailed below:
|
Recruiter |
Average Annual Salary (in USD) |
|
JP Morgan Chase |
54,373 |
|
Fidelity Investments |
59,678 |
|
KPMG |
57,025 |
|
Boeing Company |
79,570 |
An MBA in finance in the USA represents an outstanding course of study for anyone looking to build a career in international finance. The curriculum for an MBA in Finance in the US highlights both practical and theoretical financial comprehension. Students aiming to earn a Master's in Finance with impressive financial returns should certainly consider an MBA in Finance from the US, and reach out to our Ashiraj counselors for further details!
Frequently Asked Questions
Which are the best universities offering MBA in finance in the USA?
<p>Prominent American institutions offering an MBA in Finance include: 1). MIT 2). Pace University 3). Stony Brook University 4). Columbia University 5). Harvard University</p>
Is an MBA in finance worth it in the USA?
<p>Indeed, this sector will feature numerous employment opportunities. Over the coming decade, financial and business roles are projected to grow by 5%.</p>
What is the duration of MS in Finance in the USA?
<p>An MS in Finance in the United States is a graduate course lasting between 10 and 24 months provided by American higher education institutions.</p>
Do students get scholarships?
<p>Certainly, international learners are eligible to apply for various scholarship opportunities to pursue their education in the US.</p>
Is GMAT required for MBA in Finance in the USA?
<p>Not every university provides a Masters in Finance program in the USA without requiring the GMAT.</p>
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