MBA in Finance in USA is one of the most popular MBA specialisations in the USA. It is a two year program full-time course, also offered in part-time and online mode by some US universities. The tuition fee for an MBA in Finance in USA can range from 70,000 USD - 82,000 USD (56.58 lakhs - 66.28 lakhs INR) per year, depending upon the university. An international student is required to have an average GPA of 3.0, i.e 88% for an Indian student, to secure admission in MBA in Finance in USA.
MBA in Finance is one of the highest-paying MBA specializations in USA with a base salary of 102,000 USD (82.44 lakhs INR). The highest-paying recruiters for MBA in Finance jobs in USA include Ernst & Young, Amazon, Accenture, Deloitte, etc. The average salary for a fresher after graduating with an MBA in Finance in USA is around 66,000 USD (53.34 lakhs INR) per year.
Also Check: MBA in USA Deadlines 2023
Top Universities in the USA for MBA Finance:
The below table contains sone of the best universities in USA for MBA in finance with admission deadlines, and tuition fees.
| Universities | Program | Deadlines |
|---|---|---|
| Massachusetts Institute of Technology | MBA in Finance | Round 3: Apr 11, 2023 |
| Stanford University | MBA in Finance | Round 3: Apr 11, 2023 |
| Harvard University | MBA in Finance | January 04, 2023 (Closed) |
| University of Pennsylvania | MBA in Finance | Round 3: Mar 29, 2023 |
| Columbia University | MBA in Finance | January 11, 2023 (Closed) |
| University of California, Berkeley | MBA in Finance | Round 3: Apr 6, 2023 |
| University of California, Los Angeles | MBA in Corporate Finance | Round 3: Apr 12, 2023 |
| Northwestern University | MBA in Finance | Round 3: Apr 5, 2023 |
| Yale University | MBA in Finance | Round 3: Apr 11, 2023 |
| New York University | MBA in Finance | Deadline 4: Mar 15, 2023 |
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 subjects included in MBA in Finance syllabus in USA:
- Corporate investment management
- International finance
- Hedge fund management
- Portfolio management
- Investments
- Small business and corporate finance
- Fundraising
- Borrowing
- Collections
- Disbursements
- Securities analysis
Why Study MBA in Finance in USA?
MBA in Finance is one of the most highly-paid degrees in the United States with a wide range of employment opportunities. Apart from job prospects, some majors reason for choosing USA as study abroad destination for MBA Finance are:
- The program is offered by some of the 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.
- Several top recruiters look for MBA Finance graduates including Accenture, Deloitte, Amazon, The Boeing Company, KPMG, JP Morgan Chase, etc
MBA in Finance in USA: Eligibility and Admission Requirements
The eligibility criteria for studying MBA in Finance in the USA 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 USA are required to submit a few additional documents. Some of these are enlisted below:
- Academic Transcript
- English Test score reports of IELTS, TOEFL, or PTE exam
- GMAT/GRE scores
- Letters of Recommendation
- Resume
- Cover Letter
- Statement of Purpose
Also Check:
MBA in Finance in USA Eligibility Requirements:
University Specific eligibility requirements for MBA in Finance in USA:
| 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 |
MBA in Finance in USA: Cost of Studying
The average tuition fee of an MBA in Finance in the USA can range from 19,000 USD (~15.18 lakhs INR) to 77,000 USD (~61.54 lakhs INR) per year. Apart from the tuition fees for MBA Finance USA universities, the overall cost also includes cost of living.
Tuition Fees:
| University | Annual Tuition Fees (USD) | Annual Tuition Fees (INR) |
|---|---|---|
| Northwestern University | 108,016 (1 year program) 78,276 (2 year program) |
87.22 lakhs (1 year program) 63.21 lakhs (2 year program) |
| University of Pennsylvania, Philadelphia | 82,874 | 66.92 lakhs |
| New York University | 82,326 | 66.48 lakhs |
| Columbia University | 80,472 | 64.98 lakhs |
| Massachusetts Institute of Technology | 80,400 | 64.92 lakhs |
| Yale University | 79,500 | 64.20 lakhs |
| Stanford University | 76,950 | 62.14 lakhs |
| University of California - Berkeley | 76,433 | 61.72 lakhs |
| Harvard University | 73,440 | 59.30 lakhs |
| University of California, Los Angeles | 71,071 | 57.39 lakhs |
Cost of Living in USA
The average cost of living in USA for international students is seen to be around 35,000 USD (28.77 lakhs INR) per annum:
| Expenses | Annual Cost of Living (USD) | Annual Cost of Living (INR) |
|---|---|---|
| Accommodations | 500 – 1,500 | 41,100 – 1.20 lakhs |
| Electricity | 50 – 100 | 4,100 – 8,200 |
| Gas | 50 – 100 | 4,100 – 8,200 |
| Internet | 45 – 50 | 3,700 – 4,100 |
| Housing and Utilities | 1,000 – 1,500 | 82,200 – 1,20 lakhs |
Also Check: Cost of MBA in USA
MBA in Finance in USA: Scholarships
Almost all Business schools and universities in the USA 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 (in INR) |
|---|---|---|
| MIT Sloan School of Management | OGE Administered Fellowships | Partial tuition fees waiver |
| UCLA Anderson School of Management | Inlaks Shivdasani Foundation Scholarship | 79.92 lakhs/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 |
Watch the video to know about some of the fully funded scholarships in USA
MBA in Finance in USA: Scope
As earlier mentioned, the average salary of MBA Finance graduates is 102,000 USD (82.44 lakhs INR) per annum according to payscale. MBA Graduates with a specialization in finance can work in the finance departments of both financial and non-financial firms. MBA in Finance from USA graduates mostly get jobs in non-profit organizations, management consulting firms, commercial banks, investment banks, brokerage houses, etc.
MBA in Finance in USA: ROI
| University | Average Salary | Annual Program Cost |
|---|---|---|
| Stanford University | 182,706 USD | 124,389 USD |
| Harvard University | 175,000 USD | 112,764 USD |
| New York University | 153,909 USD | 123,253 USD |
| University of Pennsylvania, Philadelphia | 150,000 USD | 116,568 USD |
| Massachusetts Institute of Technology | 150,000 USD | 119,995 USD |
| University of California, Los Angeles | 150,000 USD | 117,398 USD |
| Northwestern University | 147,894 USD | 117,259 USD |
| Yale University | 145,000 USD | 108,780 USD |
| Columbia University | 140,000 USD | 122,460 USD |
| University of California - Berkeley | 140,000 USD | 116,178 USD |
Top Job Profiles for MBA in Finance in USA
Tabulated below are some of the highest-paying jobs in the USA for MBA in Finance graduates:
| Job role | Average Annual Salary(USD) | Average Annual salary (INR) |
|---|---|---|
| Chief Financial Officer | 170,606 | 1.37 Crores |
| Vice President, Finance | 151,510 | 1.22 Crores |
| Senior Finance Manager | 130,898 | 1.05 Crores |
| Corporate Controller | 122,443 | 98.87 lakhs |
| Finance Manager | 107,731 | 86.99 lakhs |
| Financial Controller | 102,524 | 82.79 lakhs |
| Senior Financial Analyst | 87,768 | 70.87 lakhs |
| Financial Analyst | 68,035 | 54.94 lakhs |
Top Recruiters for MBA in Finance in USA
Below is tabulated information on the return of investment earned by MBA in Finance graduates in various job positions, job roles, and recruiting companies.
| Recruiter Company | Average Annual Salary (USD) | Average Annual Salary (INR) |
|---|---|---|
| Ernst & Young | 137,203 | 1.1 Crores |
| Amazon | 126,267 | 1.01 Crores |
| Accenture | 125,197 | 1.01 Crores |
| Deloitte | 123,000 | 99.32 lakhs |
| KPMG | 120,225 | 97.08 lakhs |
| Bank of America | 119,332 | 96.36 lakhs |
| The Boeing Company | 104,075 | 84.04 lakhs |
| JP Morgan Chase | 90,000 | 72.68 lakhs |
MBA in Finance in USA: Course Highlights
| Program | MBA in Finance |
| Duration | 2 year (1 years in some universities) |
| Intakes | January and April |
| Top Universities | Massachusetts Institute of Technology | Stanford University | Harvard University | University of Pennsylvania | Columbia University |
| Average Tuition Fees | 70,000 USD - 82,000 USD (56.58 lakhs - 66.28 lakhs INR) |
| Top Recruiters | Ernst & Young | Amazon | Accenture | Deloitte | KPMG |
| Top Job Profiles | Chief Financial Officer | Vice President (Finance) | Finance Manager | Financial Controller | Financial Analyst |
| Average Salary | 102,000 USD (82.44 lakhs INR) |
MBA in Finance in USA: University Comparison
Comparison of top 5 universities in USA for MBA in Finance on the basis of class profile and employment rate:
| University | Average Scores | Class Size | Employment in Finance |
|---|---|---|---|
| Massachusetts Institute of Technology | GPA: 3.62 | GMAT: 730 | 408 | 22.6% |
| Stanford University | GPA: 3.76 | GMAT: 610 | 424 | 34% |
| Harvard University | GPA: 3.70 | GMAT: 730 | 1015 | 33% |
| University of Pennsylvania | GPA: 3.60 | GMAT: 733 | 877 | 32% |
| Columbia University | GPA: 3.60 | GMAT: 729 | 844 | 36% |
MBA in Finance in USA: Country Comparison
MBA in Finance in USA vs MBA in Finance in Canada
| Parameter | MBA in Finance in USA | MBA in Finance in Canada |
|---|---|---|
| Duration | Between 18 months to 24 months | Between 12 months to 24 months |
| Average tuition fees | 53,000 USD/year | 33,000 USD/year |
| Cost of living | USD 2500- 3000 per month | USD 1500-2000 per month |
| Financial Support | Scholarships, fellowships, loan, work-study | Scholarships, fellowship, loan, work-study |
| Visa | F-1 visa | Study-permit |
| Average salary | USD 110,000-115000 | USD 87,000-90,000 |
| Top Specialisations | Accounting, project management, business analytics, entrepreneurship, operations | Finance, Business Analytics, Supply Chain Management, Health Science |
| Exams accepted | GMAT- Average 560 | GMAT- Average 550 |
| English language proficiency tests | IELTS- average 7.0 | TOEFL iBT- average 100 | IELTS- average 6.5 | TOEFL iBT- average 90 |
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 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.
FAQ`s
Ques. How can I do an MBA in finance in USA?
Ans. Those planning to pursue an MBA in finance in USA must hold a bachelor’s degree with a minimum GPA of 3.5 alongside ELP scores such 6.5 IELTS or 100 in TOEFL. The applicants are also required to submit GMAT exam results with a minimum of 550 or above. Some universities may also accept GRE scores instead of GMAT with an overall score of 300.
Ques. What can I do after MBA finance in USA?
Ans. After MBA in Finance in USA, the graduates can work as Chief Financial Officer, Finance Manager, Financial Controller, Financial Analyst, Financial Risk Manager, etc. Or they may opt for certain finance-related courses to develop their skills.
Ques. What is the salary of an MBA in finance graduate in USA?
Ans. According to payscale, the average salary of MBA in Finance graduates from US universities is recorded to be around 102,000 USD (82.44 lakhs INR)per year. The graduates of MBA finance can earn up to 180,000 USD (1.45 Crore INR) per year depending on the job profile.
Ques. Is an MBA in finance in USA worth it?
Ans. MBA finance is indeed worth going for when you are planning to pursue an MBA in USA. It is the most popular course in the business field with the majority of MBA students studying MBA majors and working in financial sectors. Many top companies in the USA look for MBA graduates with a finance background including Deloitte, Accenture, KPMG, Amazon etc.
1605947041.png?tr=w-305,h-145,c-force?h=175&w=350&mode=stretch)
Comments