Studying finance in the USA will prepare you to have a rewarding career in the financial sector. Additionally, you have the skills and knowledge to make the best financial decisions. The skills you learn from studying finance in the USA can be applied in every industry sector as well as in your personal financial decisions. Studying finance in the USA will give you in-depth knowledge in all areas of finance. You will know finance areas such as commercial banking, investment banking, corporate finance, etc.

The United States of America is one of the sought-after destinations for students who want to pursue a career in finance. Studying finance in the USA offers a lot of potential benefits such as quality education, career opportunities, versatility and professional recognition. However, you must have all the requirements that are needed to start studying finance in the USA before you can gain admission.

In this piece, I will walk you through the requirements needed to study finance in the USA.

Requirements for Studying Finance in the USA

  1. Complete your Secondary Education

    You must have completed your secondary education before you can study finance in the USA. You need to have a high school diploma with a good GPA. Additionally, you must have a minimum of credits in subjects such as Mathematics, Accounting and English Language or any finance-related course.

  2. English Proficiency Test

    You will be required to write an English Language proficiency test if English is not your first language. Additionally, you must show proof of your English proficiency test. It can be tests such as IELTS, or TOEFL. This test can vary based on the university you apply to. Additionally, each school will have the minimum score that you should have in the English test. The minimum score for IELTS is 6.0.

  3. Have Academic Transcripts

    You must submit an academic transcript of your previous education. This transcript must contain all your courses and grades that you have studied. Additionally, this transcript must be an official one and it must be written in English.

  4. Submit Standardised Test Scores

    Most schools in the USA will require you to submit the ACT or SAT scores if you are applying to study finance in the USA. This may not be a compulsory requirement. However, this can give you an added advantage over other applicants.

  5. Have Reference Letters

    You must submit at least two reference letters during your application. This reference letter should be from a teacher or an employer. Therefore, reference letters from friends or family will be rejected.

  6. Personal Statement

    Some schools in the USA may require you to write a personal statement. This is an essay that explains why you want to study finance in the USA and your career plans. Additionally, you should check the school’s website to know the amount of words that you are required to write in your essay.

Requirements to Obtain a Masters Degree in Finance in the USA

  1. Have a Bachelor’s Degree

    You should have a bachelor’s degree in fields such as Accounting, Economics, Finance or a relevant field. Additionally, you must have at least a 3.0 out of 4.0 GPA from a recognized university.

  2. Have Academic Transcripts

    You must submit an academic transcript of your previous education. This transcript must contain all your courses and grades that you have studied. Additionally, this transcript must be an official one and it must be written in English.

  3. Submit Standardised Test Scores

    Some universities in the USA may require you to submit test scores such as GMAT and GRE. The average required score for the GMAT is 550 – 675. Additionally, the average required score for the GRE is 280 -330. However, this may vary based on the university’s requirements.

  4. English Language Entry Requirement

    You need to write an English Language proficiency test if English is not your first language. Additionally, you must show proof of your English proficiency test. The minimum score for the IELTS is 7.0 with no sub-band lower than 6.5. Additionally, the minimum score for TOEFL is 80 to 100.

  5. Recommendation Letters

    You need to have at least three recommendation letters. It should consist of 2 academic and 1 professional letter. Furthermore, these letters must be obtained from an employer or a previous lecturer. Therefore, recommendation letters from a friend or family will be rejected.

  6. Statement of Purpose

    You must write a statement of purpose explaining your qualifications, your plans as well as the reason why you are choosing to study finance in the USA. Additionally, this essay must be 500-750 words or 1-2 pages long. This can vary depending on the university’s requirements.

  7. Resume/CV

    You need to submit an updated resume or curriculum vitae showcasing your work experience. Additionally, you can add your professional certifications if you have any.

How to Apply

You can apply to the school of your choice through the school’s website. Most schools in the US will require you to pay an application fee before submitting your application. The application fee varies between 50 -100USD. You can apply for an undergraduate program as well as a postgraduate program. Additionally, you need to verify each school’s requirements before filling out the application form.

Duration

The duration for studying finance in the USA varies based on the type of program and the University. A bachelor’s degree in finance lasts for four years. However, a master’s degree lasts for 1-2 years.

Tuition Fee

The tuition fee for studying finance varies for international students as well as the particular university. The average amount for an undergraduate degree ranges from $10,000 to $30,000 annually. Additionally, the average amount for a postgraduate degree ranges from $12,000 to $40,000.

Universities in the USA that Offer Finance

  1. University of California – Berkeley, California
  2. University of Chicago, Illinois
  3. Stanford University, California
  4. Massachusetts Institute of Technology, Massachusetts
  5. New York University, New York State
  6. Harvard University, Massachusetts
  7. University of Pennsylvania, Pennsylvania
  8. University of Michigan – Ann Arbor, Michigan
  9. Columbia University, New York State
  10. Cornell University, New York State
  11. Princeton University, Princeton
  12. University of Illinois at Urbana – Champaign, Illinois
  13. Duke University, North Carolina
  14. Yale University, Connecticut
  15. University of Washington – Seattle, Washington
  16. University of California – Los Angeles, California
  17. Ohio State University, Ohio
  18. Pennsylvania State University, Pennsylvania
  19. University of Texas at Austin, Texas
  20. University of Maryland – College Park, Maryland
  21. Rutgers University-New Brunswick, New Jersey
  22. University of Minnesota – Twin Cities, Minnesota
  23. University of Southern California, California
  24. Carnegie Mellon University, Pennsylvania
  25. Michigan State University, Michigan
  26. Northwestern University, Illinois
  27. University of North Carolina at Chapel Hill, North Carolina
  28. University of Florida, Florida
  29. Arizona State University – Tempe, Arizona
  30. Johns Hopkins University, Maryland
  31. Boston University, Massachusetts
  32. University of Rochester, New York State
  33. Texas A&M University – College Station, Texas
  34. Washington University in St Louis, Missouri
  35. University of Arizona, Arizona
  36. University of California – Davis, California
  37. Iowa State University, Iowa
  38. Georgetown University, District of Columbia
  39. Georgia Institute of Technology, Georgia
  40. Purdue University, Indiana

In Conclusion, studying finance in the USA can be highly competitive. Therefore, you need to ensure that you have the right qualifications and documents that are needed to study finance. Additionally, you need to verify each requirement from the school’s portal before you submit your application. Furthermore, if you are applying to study for a master’s degree, you can gain work experience in this field before applying. You can reach out to us for further inquiries and assistance.

Good luck!

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