MS in Finance in USA: The Beginner’s Planning Kit
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MS in Finance in USA: The Beginner's Planning Kit
- Lovish Rawal
- May 3, 2023
- 8:53 pm
- No Comments
Overwhelmed by the process of planning and preparing for your MS in Finance in the USA?
Don’t let fear ruin your dreams of a flourishing career in finance.
Use this beginning planning kit instead.
In this article, you’ll get handy tips about:
- The application process,
- Funding options,
- Visa process,
- Housing and living,
- Making the most of your experience.
Is this the only guide you’ll ever need to plan your MS in Finance in the US to perfection? No.
Will this guide tell you everything you need to check, see, read, or understand for a perfect MS in Finance experience in the US? Absolutely yes.
So, fasten your seatbelt. And dig into this beginner’s planning kit for Master’s in Finance students.
1. Perfecting Your Portfolio: Application Process
1. Start Early
- Begin your application process as early as possible. This will ensure you have enough time to complete all necessary steps.
- Ideally, start preparing for the application process at least six months in advance.
2. Prepare for Tests
- Most graduate schools require applicants to an admission test. It can be Graduate Record Examination (GRE) or Graduate Management Admission Test (GMAT).
- As your first language is not English, you’d also have to prepare for and pass the Test of English as a Foreign Language (TOEFL) or the International English Language Testing System (IELTS).
3. Focus on Essays
- Invest significant time and effort in crafting your college admission essays and SOPs. Here’s an in-depth guide to check out.
- Use real-life examples and finance-related terminology to make your essays stand out.
4. Obtain Documents
- Make sure you have all the documents required for admission to the MS in Finance program.
You can visit the university website for that information.
For example, say you wish to enroll in the MS in Fintech program at the University of Central Florida. Here’s what you’d need for admission:
- Get letters of recommendation from professors, supervisors, or other professionals. Make sure they highlight your achievements and expertise in the finance field.
5. Get The Right Guidance
- Find mentors who can help you through the process of selecting the right college for an MS in Finance in the USA.
- Some colleges like the Herbert Miami Business School, offer virtual info sessions. By attending these, you can learn about their MS in Finance program and the admission process.
2. Visa Victory: Visa and Immigration Processes
1. Research Visa Requirements
- Find out the visa requirements for your particular situation.
- Find details about student visa requirements and start the process by visiting the official US Government website here.
2. Apply Early
- The visa application process can take several weeks or even months. So it is important to apply as early as possible.
- Prepare well for your appointment at the Offsite Facilitation Center (OFC). Find helpful tips and step-by-step guidance here.
3. Prepare for the Visa Interview
- Dress professionally and bring all the required documents to the interview.
- Be confident and well-prepared for the interview.
- During the interview, be honest and clear about your intentions for studying in the US.
Show that you are a genuine student with a real desire to study and succeed in the MS in Finance program.
4. Stay Up-to-Date
- Keep up-to-date on any changes or updates to immigration policies and regulations.
- Stay informed to avoid any issues or delays during the visa and immigration process.
3. Financing Your Education: Scholarships and Grants
1. Research Funding Sources
- Start researching potential scholarships and grants as soon as possible. Some possible options for MS in Finance aspirants include:
- Look for funding sources at your university, private organizations, or government agencies.
Brandeis International Business School, for example, hosts financial aid and scholarship information sessions. As an MS in Finance aspirant, you can attend the session by reserving your virtual seats in advance.
Check your preferred college’s website to find details about aids that they offer.
2. Check Eligibility Requirements
- Make sure you meet all the eligibility requirements before applying.
- Pay attention to application deadlines.
3. Highlight Your Achievements
- Emphasize your academic achievements, community involvement, and leadership skills.
4. Living and Lodging: Options To Consider
1. Research Housing Options
- Start researching housing options as soon as you have been accepted to the program.
- Look for apartments, dorms, or homestays that fit your budget and preferences.
- Don’t forget to check out the transportation options available in the area.
- Some colleges also have hostels and boarding facilities. With that, you can get great accommodation that’s affordable as well as close to campus.
And you can find college rooms and house tours online. Like the one below from the University Of Maryland – Robert H. Smith School of Business.
2. Understand the Lease Agreement
- If you decide to stay off-campus, make sure you read and understand the rent or lease agreement.
- Consider what other expenses you’d have to bear like the deposit amount, rent, and utilities.
5. Maximize your Memorable Moments: Tips To Make the Most of Your Study Abroad Experience
1. Networking
- Research about and attend networking events organized by the university or finance-related organizations.
- Connect with Indian alumni who have pursued an MS in Finance in the USA and ask for guidance.
Some colleges, like Baruch for example, have dedicated web pages and social media accounts for their alumni. You can access these pages to find alumni to reach out to and get guidance from.
You can similarly look for alumni details for whichever college you wish to enroll in for your MS in Finance program.
- Reach out to finance professionals in your field of interest through LinkedIn or other professional networking platforms
2. Exploration
- Make the most of your weekends to explore different cities and attractions in the USA
- Try Indian restaurants and attend cultural events in your host city to stay connected with your roots
- Visit companies and financial institutions to gain a better understanding of the US finance industry
3. Volunteering
- Look for volunteer opportunities in Indian communities or organizations in the USA
- Consider joining finance-related clubs or organizations in the university and participate in their events
- Utilize your finance skills to volunteer with non-profit organizations focused on social impact or financial literacy initiatives.
As you embark on your study abroad journey, remember to be bold and brave, to explore and engage, to learn and grow. The experience may be challenging at times, but the rewards are endless. So embrace the adventure, and let your ‘finance’ dreams take flight.
FAQs
1. Is Masters in Finance difficult in the USA?
MS in Finance in the USA can be challenging. The program is designed to cover advanced finance concepts, such as financial modeling, risk management, and investments, which can be challenging for some students. However, with dedication and hard work, students can excel in the program.
2. Does MS in Finance USA require work experience?
MS in Finance in the USA does not typically require work experience. Some programs may prefer applicants with relevant work experience. Check the admission requirements carefully before applying.
3. Is MS Finance a STEM course in the USA?
Yes, MS in Finance is generally considered a STEM course in the USA. This classification allows international students to extend their post-graduation Optional Practical Training (OPT) for up to 36 months instead of the usual 12 months.