USA

MBA IN FINANCE IN THE USA

Why Study MBA in Finance in the USA?

The universities in the USA are world-famous for their quality of education which involves a technology-based curriculum from faculties around the world. So, the students not only learn about the current international trends in business but also get to know about the real experiences and real-time challenges from the skilled faculty members. Business schools in the USA are widely known and have a reputation for the variety of courses offered in financial studies. The USA has one of the greatest financial markets housing companies and organizations from all over the world.

 

Course description

- The MBA in Finance program has a duration of 18 to 24 months. It provides students with knowledge and training in subjects like corporate finance, financial institutions, and markets, portfolio management, etc.

 

- The students can take up courses that are associated with an MBA program along with those which are customized to finance-related topics.

 

- The course offers subjects based on theories and analysis of suitable techniques of economic analysis, mathematics, and statistics. The combined program of business and finance with unique opportunities throughout the program gives significant advantages to the graduates in the job market.

 

Entry Requirements

Documents required for MBA – finance are the same as for other MBA programs. Check below:-

- Application form: You can get the application form online through the university official website or through email by request.

 

 

- Bachelor Degree: The basic requirement for an MBA in accounting is the same as for other MBA programs which is a Bachelor's Degree or equivalent from a recognized university.

 

- Transcripts: You can get these by requesting your undergraduate college/university official. These are basically proof of your excellence and performance during your previous course or education.

 

- Work Experience: - One or two years of experience in the banking or accounting sector.

 

- GMAT/GRE test scores: GRE or GMAT test scores are to be attached along with your application which has a large weight-age considering your admission at the university.

 

- SOPs and LORs: You must write the essays/SOPs representing your individual self and the interpersonal skills you gained during your academics. Most universities require at least two letters of recommendation (LORs) from students which you can get from your professors from your previous college.

 

- English language test scores: - Scores of English language tests like IELTS, TOEFL or PTE are required for non-native English speakers or for those who have not completed their previous education where English was not the medium of instruction.

 

- Resume: You are required to submit a resume mentioning your skills, academic excellence, experience in management tasks, achievements during academics and work, etc. The requirement of the resume is limited to some of the universities but mostly the top ones in the USA.

 

 

Tuition and living cost

- An MBA in IT in one of the top universities or business schools in the USA can cost on average around $75,000 per year. Other than the top ones, other universities have tuition costs in the range of $30,000 to $60,000 per year. As out of state tuition costs are expensive compared to in-state tuition costs, there

are many other affordable universities in the USA that have tuition costs around $15,000 to $20,000.

- Along with the tuition costs, you need to consider accommodation, food, traveling, and other miscellaneous costs while planning your finances. These expenses can cost roughly around $1000/month or more depending on your lifestyle.

 

 

 

Scholarships for international students

- Serge Bellanger International Business Scholarships in the US

- Onsi Sawiris Masters Scholarships in the US

- William R. Berkeley Scholarships – NYU stern School of Business

- Sainsbury Management Fellowships

- Forte Fellow Programs

- Haas School of Business Fellowships

- BAU International Scholarship

- Harvard University Fellowships

 

Along with these, there are many scholarships offered from individual universities like INSEAD, Chicago Booth, Northwestern Kellogg, etc.

 

Finance concentration

The program aims to develop analytical groundwork using tools and techniques of economic analysis, mathematics, and statistics. While the finance MBA courses changes according to the business schools, but generally the finance program covers:-

- Corporate Finance

- Corporate Investment management

- Security Analysis

- Macroeconomics

- Fund Raising

- Disbursements

- Financial Derivatives

- International Financial Markets

- Other coursework and projects like Stock market pitch projects, entrepreneurship projects, development, and design and investment strategies.

Some business schools also offer deeper specialization according to students’ interests in:

- A Certified Public accountant

- The Certified Financial Advisor

- International Finance

- Corporate Finance

- Financial Economics

 

MBA finance Vs CA

Both the courses are extremely popular with excellent career prospects and are considered as one of the best-paid professions with attractive salaries. However, there are a few differences which are discussed below:-

- CA courses are strongly focused on topics and areas of studies related to managing accounts and finances for business or organization while an MBA in finance deals with theoretical aspects of finance and combines it with business and management subjects along with practical teachings like case studies and real-world business projects.

- CA is centered on technicalities in topics like auditing, accounting, taxation, and corporate financing while an MBA – finance student studies financing deeply along with knowledge of sales and accounting.

- MBA is a limited course with a duration of 2 years in general, but pursuing CA may take extra compared to MBA as the syllabus is intense which brings out the best from the candidate after the course.

Where to study?

- New York University

- University of Chicago

- University of Pennsylvania

- Columbia University

- Massachusetts Institute of Technology (Sloan)

- University of California – Berkeley (Haas)

- Stanford University

- Harvard University

- Duke University

- Cornell University

 

Career opportunities

MBA in Finance is a challenging course and after graduating you may be handling or be in charge of the whole financial system of a business or organization. There are ample opportunities for finance graduates and these get wider with the experience you gain. The job positions you may find as an MBA – Finance are:-

- Manager Consultants

- Cash Managers

- Accounting Managers

- Investment Banking Associates

- Corporate controllers

- Investing Sales Traders and Associates

- Credit Managers & Specialist

- Insurance and Risk Managers

- Financial analyst

- Chief Financial Officers

- Finance Manager

 

Among the companies in the US that hire finance graduates, Goldman Sachs tops the table that hires mostly in sectors like investment banking and private wealth management. Other companies include Payability, Loanatik, Nationwide Mortgage Bankers, Lending point, Morgan Stanley, McKinsey, and Co., etc. Contact Whizstorm experts to know more about studying abroad.

 

 

You can refer