MS in Finance – top universities, course details, fees and eligibility (2023)

A comprehensive guide about a Master of Science in Finance program in the USA.

MS in Finance is an advanced specialised degree aimed at educating students about different domains in the field of Finance. Students are free to excel in any area of study that best aligns with their interests. A Master’s in Finance in the USA covers extensive learning on subjects like capital markets, corporate finance, behavioral finance, investment management, and the like.

This article delves deeper into studying MS Finance in a leading US university and also the details of the 2-year course.

Help me study MS in finance in USA

Table of Contents

  • What is MS in Finance?

  • Why Study MS in Finance in the USA?

  • Top Universities in the USA for MS in Finance

  • Cost of Studying MS in Finance in the USA

  • Eligibility Criteria to study MS in Finance

  • Curriculum for MS Finance

  • Scholarships for Applying to MS in Finance

  • Duration of MS Finance Course in the US

  • Jobs after MS Finance in the US

  • FAQs

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What is MS in Finance?

Master of Finance is an advanced course meant for those who aspire to upgrade their knowledge and enhance their skills in financial management. Most students of Masters in Finance and Accounting are already professionals in the domain who have a working knowledge of financial matters. An advanced program, such as MS in Finance, would only help further their existing knowledge and skill set in the area.

Why Study MS in Finance in the USA?

Lucrative job opportunities and hefty salary packages for MS in Finance graduates are the top reasons for Indian students to pursue the course in the US. The country is home to several esteemed universities and colleges that enjoy top ranks in the world in the field of Finance. The courses imparted by these institutions are globally recognized and of high-quality standards. Students of Masters in Finance in the USA are equipped with valuable skills to cope with financial challenges in real work environments.

Top Universities in the USA for MS in Finance

There are many prestigious universities in the US that offer Masters in Finance programs, making it a popular choice for Indian students. These institutions are known for their excellent infrastructure, high-quality education, and experienced teaching staff. These universities are ranked as per QS and THE World University Rankings 2023, both of which are trusted sources of global rankings for educational institutions.


QS World University Rankings 2023

THE World University Rankings 2023

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Massachusetts Institute of Technology (MIT)




Stanford University




Harvard University




California Institute of Technology (Caltech)




University of Chicago




University of Pennsylvania




Princeton University



Sep - Jan

Yale University



Dec - Mar

Cornell University




Columbia University




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Cost of studying MS in Finance in the USA

The average tuition fee to pursue an MS in Finance in the US is estimated in the range of USD 19,000 and USD 80,000 for students traveling from India. This is only the approximate tuition fee. Your study stay in the US would also involve an additional cost of living in the country, which includes expenses on accommodation, food, shopping, and the like. It is important to roughly estimate and add this expenditure to your MS in Finance fees. For most Indian students, the cost of living in the US generally amounts to USD 3,262 (approx. per month).

Eligibility Criteria to study MS in Finance

Each US university that offers a Master's in Finance has its own set of requirements for admission. Indian students who wish to obtain an international degree in Finance must meet these criteria to be considered for enrolment at their desired university.

For example, a minimum GPA of 3 on a 4-point scale is typically required for a Master's in the US. However, this requirement may vary from one university to another. But most universities have a common set of requirements that includes:

  • A Bachelors or Undergraduate degree in either Finance or a relevant area of study (as acceptable by the university that you wish to apply to)

  • Relevant coursework completed in several disciplines like C++ python, algebra, computer application, and the like.

  • An impressive GRE/GMAT score that is highly likely to increase your chances at admission into a university of your choice (Some universities accept the admission of Indian students without demanding these scores)

  • English language proficiency as proven by the test scores of IELTS and TOEFL

  • Relevant professional experience, preferably in the domain of finance or accounting

Curriculum for MS in Finance

The curriculum for most Master's in Finance programs is similar across US universities. However, some institutions may add additional elements to their coursework in order to attract more international students. The majority of US universities will cover the following subjects in their Masters in Finance programs:

  • Financial Accounting

  • Financial Management

  • Risk Management

  • Investment Theory and Practice

  • Corporate Finance

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  • Banking and Finance

  • Behavioral Finance

  • Econometrics

  • International Finance

Some universities may offer more or even a lesser number of subjects than those listed here. It would depend on the curriculum that each university chooses to design for its students, both local and international.

Scholarships for Applying to MS in Finance

Considering the fat tuition fee and an equally sizable cost of living in the US for an Indian student, most universities in the country offer scholarship options to international students. With a scholarship, students from India can now look forward to realizing their dream of a US Masters degree without having to burden themselves financially. Some of the most popular Scholarships for Masters in Finance in the USA are:

  • Dean’s Scholarship Program, which offers a partial waiver of the course tuition fee

  • Inlaks Shivdasani Foundation, offering scholarships up to roughly USD 100,000

  • Quad Fellowship, which offers approx. USD 50,000 worth of scholarship.

  • Global Study Awards, offering a 50-50 ratio of loan: grant and helps provide for living and travel costs as well as the tuition fee.

Duration of MS in Finance Course in the US

The total duration of MS in Finance courses in different US universities also varies from one institution to another. This is primarily because every college in the country chooses to design its unique specific program in Finance for postgraduate students. The curriculum of the course may also be different in some universities (as already discussed above). Based on all this, the average duration of Masters in the USA in the stream of Finance is somewhere between 10 months and 2 years.

Jobs after MS in Finance in the US

What after completing Masters in Finance from a reputed US university? This question haunts the minds of many postgraduate students. The good news is that the US has no dearth of job opportunities lined up for its graduates of the MS Finance program. Here are some top job positions on offer upon successful completion of the course from a renowned US university. For your easy reference, we have also listed the approximate expected MS in Finance salary in the USA against each role/position:

  • Financial Controller (USD 91,190)

  • Accounting Manager (USD 85,072)

  • Senior Financial Analyst (USD 83,682)

  • Portfolio Manager (USD 94,601)

  • Finance Manager (USD 109,628)

Want more guidance on which college or university to opt for your MS in Finance course in the US in 2023? Allow IDP’s International Education experts to assist you in making the most critical decision of your career with ease.

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Frequently Answered Questions

1. How much does MS in Finance cost in the USA?

An Indian student who wishes to study in the US would be expected to pay up to nearly USD 80,000 per year during the entire duration of the MS Finance course in the country.

2. Is MS in Finance a STEM degree in the USA?

STEM is the popular acronym for Science, Technology, Engineering, and Mathematics. Considering the high demand for STEM courses offering subdisciplines within these 4 core streams, most US universities now offer their MS in Finance programs as a STEM-designated degree.

3. Are finance jobs in demand in the USA?

Yes, the current job market in the country is highly competitive and there are numerous companies offering job openings in the Finance and Investment sector. This demand is only expected to increase with time with the inflow of more international students into the country for pursuing Masters in Finance.

4. What is the average salary after completing MS Finance in the USA?

Different companies offer different salary slabs to MS Finance graduates as per their caliber and skill set. However, for a fair idea, it can be estimated that the average salary earned by a postgraduate in the field may amount to USD 94,000 per annum.

5. Do universities in the USA require scores of GRE or GMAT for admissions to MS in Finance?

Most US universities demand the submission of GRE and GMAT scores as a minimum requirement for admission into MS in Finance. However, some universities also accept admission applications from Indian students without mandating the requirement of GRE/GMAT scores.

6. Is it better to get an MBA or MS in Finance?

Both MBA and MS degrees in Finance have their merits and reasons for pursuing the same. It is difficult to accurately state which one would be better to follow from a student’s perspective. However, there is one prime difference that stands out between the two degrees - an MBA in Finance allows its graduates to look for jobs in a host of areas, and not just Finance. However, the same does not hold for an MS in Finance degree. MS Finance graduates have limited scope for employment - only in the Finance sector.

7. Is the Masters in Finance the same as CFA?

The Chartered Financial Analyst program or CFA is not the same as a Masters in Finance program in the US. This is because CFA does not count for a graduate degree, unlike the MS in Finance course which is a graduate degree program in the country. Nonetheless, CFA is a widely popular and highly recognized certification in the field of Finance. As such, some employers prefer CFA and sometimes even consider it equivalent to a PG course.

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Updated on January 30, 2023

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