The United state of America is a world power country and as such abuses great and prestigious universities of all kinds. In the latest Qs world university ranking, the US has 20+ universities in the top 50. It unarguably tops the list of all international students across all globe wish list and over a million international students study in the US every year.
The US has many top universities that offer Ms finance. In the 2018 university ranking, 66 universities are offering Ms. finance in the USA with well-recognized standards and outstanding reputable. Getting a Masters of finance degree in the USA provide students with a solid foundation and real-life practical examples about the financing and accounting world. For students who want to kick start their career in finance, a Ms finance degree in the USA hone graduates with skills and intellect to handle corporate finance, risk management, econometrics, financial analysis and investment management. As juicy as studying in the USA might be
There are certain points to note about getting an MS finance degree in the USA before application. Below are some key points:
COST OF STUDYING
Master of finance degree in the USA is quite expensive Because of the qualities of education offered As well as the high demand in US universities Although cost varies depending on other criteria like the choice of university, the city, student lifestyle, An average tuition fee ranges between $20000-$80000 per year.
Private universities are costlier than public universities. At that, public universities tuition fees also vary depending on the type of student(In state or out of state). The tuition fee is also dependent on the duration of studies. Besides, before admission, there are numerous one-time expenses to be made during the application process such as registration fees, application fees, fees for exams to be written e.t.c.
Before Applying for a degree in MS finance
There are certain eligibility criteria an applicant must meet to be considered. Such include
- A Bachelor’s degree in any relevant field of study from a reputable and recognized university with a GPA of 3.4 (4 point grading system) and above pass mark depending on the university.
- An English proficiency test either IELTS, TOEFL or any equivalent with a certain pass mark depending on the choice of university.
- GRE or GMAT
Other documents required include an Academic transcript, recommendation letter, statement of purpose/intent. Some universities require a non-refundable application fee.
Prospective applicants should check through the website of their chosen university to see if they meet the eligibility criteria before the application
The academic year in the US may comprise semesters, quarters or trimesters depending on the choice of students. The first semester usually begins in August and ends in December while the second semester begins in January/February and run till May/June as the case may be.
Cost of living
Cost of studying is one thing, cost of living is another. Although both are from the same spheres it is worth reiterating it, as in recent times, it has become a barrier for studying in the USA to students particularly International students which explains why most students have opted for a part-time job to cover their expenses. the cost of living depends on the choice of housing, feeding and most importantly the city of studying. Some expenses can’t be escaped such as stationeries, housing, electricity bills e.t.c A recent study claim that an average student in the US spends between $15000-$29000.
WHY STUDY MS FINANCE IN THE US
USA is a land full of opportunities, getting a highly acknowledged degree like the Ms finance in the USA is exposing yourself to unlimited job opportunities, career-changing internships, connections with business professionals that’ll equip you with vast experiences. There are a bunch of companies looking to hire master in finance graduates for full-time positions and internships. The whole world is at your feet.
- No work experience is required for admissions unlike other programs like MBA. This is a favorable circumstance for fresh B.Sc. graduate to continue their academic pursuit without delay
- For students looking for a quick, reliable and cost-effective pathway to enter into the finance world/sector, an MS finance in the US is a degree that caters for them as it usually takes 12-18 months to complete.
- The finance sector in the USA is a fast-growing sector that continues to bloom immensely and will do so till the foreseeable future, a MS finance degree in the USA is a chance to be part of the moving train.
- Varieties of faculties within the finance sector to choose from depending on student preferences.
TOP UNIVERSITIES THAT OFFER A MASTER’S DEGREE IN FINANCE IN THE US
- Massachusetts Institute of Technology
Popularly referred to as the MIT is a world-renowned institution situated in Cambridge, United States. It is a public university and was founded in 1861. This university has been the best in the world for 10 years in a row. MIT Sloan master of finance program is a 12-18 month full-time program that engineers students around the most advanced and complex financial theories, quantitative models within the financial realm. Competition for admission in the institution is on the high with acceptance rate of 7%. To obtain a Master’s degree in finance in MIT tuition fee ranges from $74000-$75500. Prospective applicants can register their interest through the link. https://mitsloan.mit.edu/programs/create-your-profile
2. The University of California.
University of California- Berkeley (UCB) is, located in the city of Berkeley CA UCB. Statistics has shown that we have over 1500 faculties with about 130 departments. Also in University of California, there are a total of 80 interdisciplinary research units.
The university admits students not only based on an academic but also on some criteria including the overall qualities of students and their contributions/achievements. UCB Master’s degree in Finance course is a stem certified course Aimed at educating and providing financial acumen students need to impact and lead the finance world. The duration of the program is 9 months consisting of 48 units, of course, 7 required, 3 electives and 2 restricted elective courses. Master’s degree in financial engineering tuition fee ranges from $72500-$74000 More details at the university school of business website
3.University of California Los Angeles
This is one of the best institutions to get a master’s degree in finance. This institution is a public research university located in Westwood Los Angeles in the year 1882 It ranked high in the world university ranking. Competition to be admitted to the school is rigorous as it has an acceptance rate of 13%-15%. Admission is not only given based on grade but overall performance. recently, the university was given the 3rd position in the news graduate employability ranking. UCLA offers a master’s degree in financial engineering and it’s a 15 months programme on a full-time basis. Students will earn 70 units through course work and hand’s on applied finance projects. At the end of the program, graduates will have possessed the quantitative skills for solving complex financial problems.
4.University of Texas.
The institution is located in Austin, Texas. Founded in 1883 and has many alumni in top world organizations. University is ranked 44th and 71st at the Times higher education and QS world university ranking respectively. It is a public university and has one campus located in Austin. Highly competitive with an update of 32%. Master of Finance in UTAUS is 10 months full-time program designed to equip students with in-demand financial modelling skills needed to strive in any finance industry. Tuition fees are between $48000-$50000. Prospective students can follow up the program URL at https://www.mccombs.utexas.edu/MSF.
5.Georgia Institute of Technology.
Georgia Institute of Technology is a top public university established in the year 1885 in Atlanta Georgia. It has branch campuses in France and China. Georgia institute enrolled students from over 100 countries around the globe with an acceptance rate of 21%. there’s high student satisfaction in the institution has a whopping 97% of students enroll graduates. The application requires a non-refundable fee of $85. GIT has a world ranking of 38th. It offers a master of science degree in quantitative and computational (QCF). This program is a stem degree program between 3 Georgia best units: Schaller College of Business, School of mathematics and the school of industrial & system engineering. The program is aimed at providing a solid practical understanding of finance theories and business/institutional details. Get in touch at firstname.lastname@example.org.
Conclusively, it is notable to mention that the USA has many standard business schools to choose from, the article has almost done justice to mention the top 5. Students should seek to research the one that aligns with their interest and Act Accordingly. We wish you success in your academic pursuit.