Are you aspiring to enhance your financial management skills and elevate your career in finance? Pursuing a Master of Business Administration (MBA) in Finance in the United States could be your ticket to achieving these goals. As an international student, you can pursue your career in finance as a full-time course.
Do you wish to know more? Keep reading this article to learn why pursue an MBA in Finance in USA, the list of best universities, eligibility requirements, the application process, scholarships available, job opportunities, and many more. So, to start, let’s dive into the reasons to pursue an MBA in Finance.
Why Pursue an MBA in Finance in USA?
An MBA in Finance is a prestigious degree that can open up a world of opportunities. It equips you with the knowledge and skills required to excel in finance-related roles, such as financial analyst, investment banker, or financial manager. Moreover, an MBA can help you develop critical skills like strategic thinking, leadership, and problem-solving.
Well, pursuing an MBA in Finance in USA offers a multitude of compelling reasons for ambitious individuals looking to shape their careers in the world of finance. Some key factors make this academic pursuit particularly enticing:
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Best Universities for MBA in Finance in USA
The United States is home to some of the world’s finest institutions for pursuing an MBA in Finance. These universities are renowned for their rigorous academic programs, exceptional faculty, extensive resources, and impressive alumni networks. When considering where to pursue your MBA in Finance, here are some of the best universities in the USA to explore:
| Name of University | Average Tuition Fees per year ( in USD ) |
| Boston University | 63,798 |
| Columbia University | 65,340 |
| Harvard University | 54,269 |
| University of Texas at Austin | 53,750 |
| New York University | 78,700 |
| Yale University | 64,700 |
| University of Pennsylvania | 75,400 |
| Massachusetts Institute of Technology | 81,378 |
| North Western University | 76,368 |
| University of New Haven | 45,730 |
Eligibility Requirements to Study MBA in Finance in USA
To study for an MBA in Finance in the USA, you must meet specific eligibility requirements set by individual universities and the U.S. government. While requirements can vary from one institution to another, there are some common prerequisites for international students:
- Bachelor’s Degree
- English Proficiency Test Scores i.e. IELTS, TOEFL, PTE
- GMAT or GRE Scores
- Work Experience (Optional)
- Transcripts and Academic Records
- Letters of Recommendation
- Statement of Purpose
All these documents are needed for applying to various US universities. But before applying, consider consulting the universities’ admissions offices for guidance and clarification on their specific prerequisites.
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Application Process to Study MBA in Finance in USA
Now you have all the information about the best universities for pursuing an MBA in Finance in the USA and the eligibility requirements. Now, let’s discuss the application process to study MBA in Finance in USA:
- Research and select the universities or business schools in the USA that offer MBA programs in Finance.
- Meet the eligibility requirements and prepare the necessary documents.
- Submit the application form by paying the required application fees.
- Upload all required documents to the university’s website.
- You can apply for financial aid or a scholarship (if you are eligible).
- Be prepared for an interview because some universities may require it.
- After submitting your application, wait for the university’s admission committee decision.
Scholarship Available to Students for Pursuing MBA in Finance
Scholarships for pursuing an MBA in Finance in USA can significantly help reduce the financial burden of your education. While scholarship availability varies from one university to another. Here is a list of some of the scholarships provided by US universities to international students:
- The Margaret McNamara Memorial Fund
- Joseph Wharton Fellowships
- Boustany Foundation
- John C. Phelan Forward Fellowship
- Emerging Economy Fellowships
- Fullbright Scholarships
- George Leadership Fellowship
- The Robert S. Kaplan Life Sciences Fellowship
- Social Impact Fellowships
- Dean’s Scholarship
- Horace W. Goldsmith Fellowship
- Global Leadership Full-Tuition Scholarship
MBA in Finance in USA: Cost of Studying for an International Student
The cost of studying for an MBA in Finance in the USA can vary significantly based on several factors, including the university you choose, the university’s location, the duration of the program, and your personal expenses.
Here’s a breakdown of the costs of studying in the USA that an international student can expect to incur:
| Types of Expenses | Costs per year (in USD) |
| Average Tuition Fees | $70,000 to $82,000 |
| Living Expenses | $15,000 to $25,000 |
| Books and Materials | $900 to $1,200 |
| Food | $2,200 to $3,500 |
| Travelling Costs | $1,200 to $2,700 |
Besides the abovementioned expenses, the students must bear the miscellaneous expenses. Ultimately, the total cost of studying for an MBA in Finance in USA will depend on your choices and circumstances. Creating a detailed budget and seeking available financial assistance can make the experience more affordable.
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Job Opportunities after Pursuing an MBA in Finance in USA
After pursuing an MBA in Finance in the USA, an international student gets an average salary of 160,000 USD annually. To get a job opportunity, students must update their resumes on various online job portals such as Indeed, LinkedIn, CareerBuilder, etc. Because a student gets many full-time and internship positions on these online portals.
Here are some of the job opportunities you can explore after completing your MBA in Finance:
| Position | Job Role |
| Financial Analyst | Have to analyze financial data, prepare reports, and make investment recommendations. |
| Investment Banking | Assisting with buying and selling and providing financial advisory services. |
| Risk Manager | Develop strategies to safeguard against market volatility, credit risk, and operational risks. |
| Chief Financial Officer (CFO) | Responsible for a company’s financial planning and management. |
| Financial Consultant | Provide clients with investment and financial planning advice. |
| Corporate Finance Manager | Responsible for managing financial planning and analysis. |
| Portfolio Manager | Have to handle investment portfolios for individuals, institutions, or mutual funds and make investment decisions to maximize returns while managing risk. |
Some of the top recruiters offering Finance job opportunities in the USA are as follows:
- KPMG
- Goldman Sachs
- Boston Consulting
- Boeing Company
- Morgan Stanley.
- JP Morgan Chase & Co.
- Bai & Company
Final Words
In conclusion, pursuing an MBA in Finance in USA is not only a wise investment in your education but also a strategic move to advance your career in the dynamic world of finance. Whether you aspire to become a financial analyst, an investment banker, a corporate finance manager, or a leader in any finance-related role, your journey begins with the decision to pursue an MBA in Finance.
The USA offers the ideal backdrop for this transformational experience, where you can unlock your potential, broaden your horizons, and make a lasting impact on the world of finance. So, take that first step towards a brighter financial future, and embark on your MBA journey in the USA. Remember to revisit for more reading more related content and information.
Frequently Asked Questions (FAQs)
1. Is an MBA in Finance in USA worth it?
Yes, an MBA in Finance in the USA is generally considered worth it due to the potential for higher earning potential, career advancement, and access to a global network and top-tier education. However, the decision’s worth depends on individual goals, financial considerations, and the specific MBA program chosen.
2. Can I work in the USA after completing my MBA in Finance?
Yes, there are options for post-graduation employment, such as Optional Practical Training (OPT) and the H-1B visa. However, specific regulations apply, so it’s essential to stay informed.
3. What is the average duration of an MBA in Finance program?
The average duration of an MBA in Finance program in the USA is typically two years. However, some institutions offer accelerated programs that can be completed in 12-18 months, while part-time programs may take longer.
