Highlights -
- Eligibility - The top-ranking business schools need a GMAT score around the range of 610 to 730 and an ELP score of 90-100 in TOEFL iBT.
- Career-You can explore various career opportunities like an Investment Banker, CFO, or broker-dealer with an average salary of 106,000 USD per annum.
- Deadlines - Most of the 2024-25 intake deadlines for the spring intake are open till May.
- Cost of living: Housing and utilities bear the highest expense in the USA, with a monthly budget of 83,228 to 1.24 lakhs.
- Recruiters - The highest-paying recruiters for MBA in Finance jobs in the USA include Ernst & Young, Amazon, Accenture, and Deloitte.
MBA in finance in USA programs are introduced to provide students with a thorough understanding of financial principles, quantitative capabilities, and decision-making ability. Wondering why should you study this course in the USA? The USA is well-known for its entrepreneurial atmosphere and start-up ecology. MBA in Finance teaches you the right skills that are needed for Startups. Startups call for departments like operation sales, marketing, and product development which are eventually trained in MBA in Finance. MBA graduates have excellent managerial skills, which all startups and entrepreneurs prefer.
MBA in Finance in the USA covers programs like financial management, investment analysis, corporate finance, risk management, financial markets, financial accounting, and financial reporting. Career opportunities are abundant after an MBA in Finance like -
- asset management
- investment banks
- broker-dealers
- management consulting firms,
- other financial institutions, as well as CFO positions in non-financial corporations, not-for-profit entities, and key positions in central banks and government.
The duration of an MBA in Finance in the USA is two years, and it has three intakes mainly - fall, summer, and spring. Investment Bankers receive the highest salary of $82,999 after graduating with an MBA in Finance. To secure admission to an MBA in Finance in the USA, an international student is required to have an average GPA of 3.0 on a 4.0 scale (85%). The tuition fee for an MBA in Finance in the USA can range between 74,910 to 87,370 USD per year (62.35 to 72.72 lakhs INR).
Table of Content
Top Universities in the USA for MBA in Finance
Some of the best universities for MBA finance in USA, their world rankings, and admission deadlines are provided. MBA in finance in USA fees are also mentioned in the table -
| Universities | Program | Tuition Fees in USD | Deadlines |
|---|---|---|---|
| Massachusetts Institute of Technology | MBA in Finance | 87,600 | Round 2: January 17, 2024 |
| Round 3: April 8, 2024 | |||
| Stanford University | MBA in Finance | $82,455 | Round 2: January 4, 2024 |
| Round 3: May 24, 2024 | |||
| Harvard University | MBA in Finance | $76,410 | Round 2: January 3, 2024 Round 3–25 April 2024 |
| University of Pennsylvania | MBA in Finance | First-year- $84,830 Second year - $83,830 | Round 2: January 4, 2024 |
| Round 3: April 2, 2024 | |||
| Deferred Admissions: April 24, 2024 | |||
| Columbia University | MBA in Finance | $84,496 | Round 2: January 5, 2024 |
| Round 3: April 3, 2024 | |||
| University of California, Berkeley | MBA in Finance | $82,059 | Round 2: January 4, 2023 |
| Round 3: March 28, 2024 Round 4: April 18, 2024 Round 5 : May 14, 2024 |
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| University of California, Los Angeles | MBA in Corporate Finance | $78,350 | Round 2: January 4, 2024 |
| Round 3: April 12, 2024 | |||
| Northwestern University | MBA in Finance | $81,015 | Round 2: January 10, 2024 |
| Round 3: April 3, 2024 | |||
| Yale University | MBA in Finance | $84,900 | Round 1: January 4, 2024 |
| Round 2: February 21, 2024 | |||
| Round 3: April 9, 2024 Round 4- May 16, 2024 |
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| New York University | MBA in Finance | 84,180 | 3rd Deadline: January 18, 2024 |
| 4th Deadline: April 18, 2024 |
What is an MBA in Finance?
The MBA in Finance is a two-year program combined with theory and with real-world practice. The curriculum mainly focuses on financial planning, cost analysis, emerging markets, and the importance of finance in the modern business world and economy. Listed below are the best MBA finance programs in USA-
Corporate investment management
- Hedge fund management
- Portfolio management
- International Finance
- Investments
- Fundraising
- Borrowing
- Collections
- Disbursements
- Securities analysis
- Small business and corporate finance
Why Study an MBA in Finance in the USA?
MBA in Finance is one of the highest-paid degrees in the United States with a wide range of employment opportunities. Apart from job prospects, some major reasons for studying in the USA for an MBA in Finance are:
- The program is offered by some top business schools in the world, with the majority of them having a placement rate above 90%.
- MBA in Finance is the most in-demand course in the USA, which is also the most preferred business major among international students.
- More than 30% of MBA graduates in the USA with or without finance majors are working in industries that deal with finance.
- According to the US Bureau of Labor Statistics, overall employment in management occupations is projected to grow 8% from 2021-2031, faster than the average for all occupations.
MBA in Finance in the USA: Admission Requirements
MBA in finance in USA eligibility varies from university to university. Some of the basic criteria that an international student must be eligible for are listed below:
Document Checklist
International students planning to Study MBA in Finance in the USA are required to submit a few additional documents. Some of these are enlisted below:
- Academic transcript
- English proficiency test score reports of IELTS, TOEFL, or PTE exam
- GMAT/GRE scores
- Resume
- Cover letter
- Statement of purpose
- Letters of recommendation
MBA in Finance in USA Eligibility Criteria
best universities in USA for MBA finance specific eligibility requirements are-
| University | Admission Requirement | Work Experience | LORS |
|---|---|---|---|
| Massachusetts Institute of Technology | GPA: 3.62 | GMAT: 730 | TOEFL iBT: 110 | 5 years | One |
| Stanford University | GPA: 3.76 | GMAT: 610 | TOEFL iBT: 109 | Not Required | Two |
| Harvard University | GPA: 3.70 | GMAT: 730 | TOEFL iBT: 109 | 5 years | Two |
| University of Pennsylvania | GPA: 3.60 | GMAT: 733 | TOEFL iBT: 110 | 5 years | Two |
| Columbia University | GPA: 3.60 | GMAT: 729 | TOEFL iBT: 100 | 5 years | One |
| University of California - Berkeley | GPA: 3.00 | GMAT: 729 | TOEFL iBT: 90 | 2 years | Two |
| University of California, Los Angeles | GPA: 3.50 | GMAT: 711 | TOEFL iBT: 87 | 3 years or more | Two |
| Northwestern University | GPA: 3.70 | GMAT: 729 | TOEFL iBT: 104 | 5 years | Two |
| Yale University | GPA: 3.69 | GMAT: 725 | TOEFL iBT: Not required | 3 years or more | Two |
| New York University | GPA: 3.62 | GMAT: 733 | TOEFL iBT: 100 | Not required | Two |
Cost of Living in the USA
The average cost of living in the USA for international students is around 35,000 USD (29.12 lakhs INR) per annum. A breakdown of the cost of living in the USA is provided below:
| Expenses | Annual Cost of Living in USD | Annual Cost of Living in INR |
|---|---|---|
| Accommodations | 500 to 1,500 | 41,600 to 1.24 lakhs |
| Electricity | 50 to 100 | 4,160 to 8,320 |
| Gas | 50 to 100 | 4,160 to 8,320 |
| Internet | 45 to 50 | 3,744 to 4,160 |
| Housing and Utilities | 1,000 to 1,500 | 83,228 to 1.24 lakhs |
MBA in Finance in the USA: Scholarships
Best MBA colleges in the USA for finance offer financial assistance to overseas students. Below are some of the fellowships or scholarships for studying MBA in Finance in the USA.
| University | Scholarship | Award Value |
|---|---|---|
| MIT Sloan School of Management | OGE Administered Fellowships | Partial tuition fees waiver |
| UCLA Anderson School of Management | Inlaks Shivdasani Foundation Scholarship | 100,000 USD |
| 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 |
MBA in Finance in USA Placements
The average salary of MBA Finance graduates in the USA is 106,000 USD (88.23 lakhs INR) per annum according to payscale. MBA graduates with a specialization in Finance can pursue high-paying jobs in the USA in the finance departments of both financial and non-financial firms. The average salary of MBA Finance graduates in the USA according to their chosen professions are as follows:
Top Recruiters for MBA in Finance in the USA
The average salary of graduates of MBA in Finance in the USA at various world-leading companies are as follows:
| Recruiter Company | Average Annual Salary in USD | Average Annual Salary in INR |
|---|---|---|
| 208,506 | 1.73 crore | |
| Amazon | 141,740 | 1.17 crore |
| Microsoft | 188,000 | 1.56 crore |
| Walmart | 127,450 | 1.06 crore |
| Goldman Sachs | 122,599 | 1.02 crore |
| Bank of America | 134,190 | 1.11 crore |
| Wells Fargo | 130,010 | 1.08 crore |
| JPMorgan Chase & Co | 103,960 | 86.51 lakhs |
MBA in finance from the USA is an excellent choice for students who want to accelerate their professional life. There is a high demand for MBA in financial graduates, mainly in the consulting industry as well as in financial agencies. For admission, prospective students must keep up with the latest admission updates of the university to which they wish to apply. It is better to apply to highly ranked universities in case an individual is eligible for the same.
FAQs
Ques. What is an MBA in Finance, and why should I pursue it?
Ans. An MBA in Finance is a graduate-level business degree focused on financial management, analysis, and decision-making. It equips students with skills and knowledge to excel in finance-related roles in various industries, making it a popular choice for those aiming for leadership positions in finance.
Ques. What are the prerequisites for applying to an MBA in Finance program?
Ans. You need a bachelor's degree from an accredited institution, relevant work experience, satisfactory GMAT or GRE scores, letters of recommendation, a resume, and a statement of purpose.
Ques. How long does it take to complete an MBA in Finance program?
Ans. The duration of an MBA in Finance program varies depending on the institution and whether you choose a full-time, part-time, or accelerated format. Full-time programs usually take two years to complete, while part-time programs may extend to three or more years.
Ques. What courses are typically included in an MBA in Finance curriculum?
Ans. Courses commonly found in MBA in Finance programs include Financial Management, Investment Analysis, Corporate Finance, Financial Markets and Institutions, Risk Management, Financial Modeling, and Managerial Accounting, among others.
Ques. Are there any specific skills or background knowledge required for an MBA in Finance program?
Ans. Many programs are designed to accommodate students from diverse academic and professional backgrounds. However, proficiency in quantitative analysis, strong communication skills, critical thinking ability, and a solid understanding of basic finance concepts is preferred.
Ques. What career opportunities are available to graduates with an MBA in Finance?
Ans. Graduates with an MBA in Finance are well-equipped for a wide range of careers in finance and related fields. They may pursue roles such as financial analyst, investment banker, corporate finance manager, risk manager, portfolio manager, financial consultant, or chief financial officer (CFO), among others.
Ques. Do MBA in Finance programs offer opportunities for internships?
Ans. Many MBA in Finance programs facilitate internship programs and opportunities to provide students with hands-on experience and networking opportunities in the finance industry.
Ques. How much does it cost to pursue an MBA in Finance in the USA?
Ans. The cost of an MBA in Finance program can vary significantly depending on factors such as the institution, program format, location, and duration. Tuition for top-tier MBA programs can range from tens of thousands to over $100,000 per year, not including additional expenses such as living costs, books, and fees.
Ques. Are scholarships or financial aid available for MBA in Finance students?
Ans. Many MBA programs offer scholarships, grants, or assistantships based on academic merit, financial need, diversity, or other criteria. Students may be eligible for federal or private student loans, employer tuition assistance programs, or other forms of financial aid to help offset the cost of their education.
Ques. What factors should I consider when choosing an MBA in Finance program?
Ans. When selecting an MBA in Finance program, it's essential to consider factors such as faculty expertise, curriculum structure and flexibility, career services and alumni network, opportunities for networking and internships, location, cost, and return on investment (ROI).
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