Best MBA in Finance Programs (2024)

Pursuing an MBA in Finance goes beyond mere number crunching; it’s about learning to decipher the pulse of global markets, anticipating trends, and shaping the future of financial ecosystems. Plus, the return on investment for this degree is significant, with graduates from our top-listed programs earning a median salary of $175,000.

While a bachelor’s degree might get your foot in the door, employers increasingly favor candidates with advanced degrees, especially MBAs, according to a GMAC Survey. An MBA in Finance prepares you for critical roles in the financial sector, such as financial analyst, investment banker, corporate finance manager, asset manager, and risk manager.

If you’re thinking about getting an MBA in Finance but aren’t sure where to start, we’ve ranked and provided details about the top 10 best programs.

Here’s a list of the top MBA in Finance programs:

1. University of Pennsylvania (Wharton)

Wharton’s MBA program offers a comprehensive 20-month experience, featuring a 3.5-month summer internship. With a flexible curriculum, students can customize their education to align with their career aspirations. The core curriculum instills fundamental business skills, while the finance major provides specialized expertise through courses such as Corporate Finance, Investment Management, and International Financial Markets.

The main application requirements include having a bachelor’s or equivalent degree, submitting transcripts, two essays, two recommendations, and GMAT/GRE test scores.

2. New York University (Stern)

NYU Stern’s Full-time MBA is a two-year program with customizable specializations, allowing students to select up to three focus areas from over 20 options. With 60 credits, including electives taught by industry leaders, the program provides a deep dive into finance-related topics such as Global Banking, Investment Banking, and Risk Management.

This program requires a four-year bachelor’s degree, standardized test scores (GMAT, GRE, or equivalent) or waiver requests, essays on career goals and personal expression, and an endorsement.

3. Columbia University (Columbia)

With insights into various industries and specialized topics through over 300 electives, Columbia Business School’s MBA program provides a forward-looking curriculum. Students can explore areas like finance, consulting, healthcare, and social enterprise. Moreover, the school’s Program for Financial Studies offers tailored courses in asset management, investment banking, and risk management.

The main admission requirements for this MBA program include a bachelor’s degree, standardized test scores (GMAT, GRE, EA), three essays, recommendations, and an interview.

4. Stanford University (Stanford)

Stanford Graduate School of Business fosters an environment of boundless possibilities, where diverse perspectives are not only accepted but encouraged. Its MBA program is crafted to nurture ethical and impactful leadership through an engaging curriculum. The program’s finance electives span various areas, such as capital markets, investment management, and financial restructuring.

Admission requirements include a US bachelor’s degree or equivalent, a valid GMAT or GRE score, two personal essays, and two letters of recommendation.

5. University of Chicago (Booth)

Chicago Booth’s Full-Time MBA Program empowers students with academic freedom, risk-taking opportunities, and the chance to shape their global impact. The program offers 14 concentrations, including finance, taught by renowned scholars like Nobel laureates Eugene F. Fama and Lars Peter Hansen. You can customize the finance curriculum by selecting from a diverse range of courses such as Financial Instruments, Portfolio Management, International Corporate Finance, and more.

To apply, you need to have an accredited undergraduate degree and submit GMAT or GRE scores, two essays, letters of recommendation, and transcripts.

6. Harvard University (Harvard)

Harvard Business School’s two-year, full-time MBA program revolves around real-world practice and global collaboration. The curriculum offers flexibility, with a wide range of interesting elective courses available in the second year, including diverse finance options such as Corporate Finance: Corporate Financial Operations (CFO), Entrepreneurial Finance, How to Not Bankrupt Your Family, and more.

To apply, you’ll need a U.S. bachelor’s degree or its equivalent from an accredited institution, transcripts, an essay, two recommendations, a resume, and to attend an interview.

 7. University of California-Los Angeles (Anderson)

At UCLA Anderson, students access a dynamic MBA program with a 22-month curriculum and 15 specializations, including Corporate Finance. They choose from 115+ electives starting in the first year, covering topics like Corporate Valuation, Behavioral Finance, Risk Management, and Corporate Governance.

Candidates need a completed undergraduate degree to enroll, typically a four-year bachelor’s or equivalent. Test scores (GMAT, GRE, or EA) are optional. Applicants must also answer one essay question, submit two recommendations, and attend an interview by invitation.

8. Rice University (Jones)

Rice University’s Full-Time MBA program, recognized for its STEM-designated curriculum, caters to those navigating significant career shifts. Students enjoy a tailored learning experience, with options spanning 10 specialization areas and over 100 elective courses, including finance. The finance concentration offers a robust foundation in financial management principles, complemented by specialized electives.

Applicants require a U.S. bachelor’s degree or equivalent, GMAT/GRE/EA scores or waiver eligibility, a resume/CV, recommendation letters, and responses to short-answer and creative essay prompts.

9. University of Michigan-Ann Arbor (Ross)

At Michigan Ross, the finance specialization within the MBA program offers an array of advanced courses tailored to prepare students for diverse roles in finance. From Big Data in Finance to Financial Management, and Corporate Financial Policy, the curriculum covers essential topics crucial for success in the financial industry.

Admission criteria include a U.S. bachelor’s degree or equivalent, standardized test scores (or alternative evidence), essays, one recommendation, and interview by invitation.

10. University of Virginia (Darden)

Darden’s Full-Time MBA program is renowned for its rigorous curriculum and practical learning experiences that shape responsible leaders. The first-year core courses cover essential management areas, while diverse electives, including Corporate Finance/Investment Banking, cater to specialized interests. This specialization prepares students for roles like CFO or investment banking professionals, addressing complex financial challenges.

Applicants need a four-year American bachelor’s degree or equivalent, transcripts, standardized test scores (waivers possible), a resume, one recommendation, and short essays focusing on personal insights and career goals.

MBA in Finance Benefits

Deciding to do an MBA in Finance is a big step, especially when thinking about the cost. Yes, top-ranked MBA programs can be pricey, but they’re often worth it. Here’s why the investment in a high-quality MBA in Finance can really pay off:

• Better earnings. Graduating from a well-known program usually means you can earn a higher salary right from the start. Over time, this can make a big difference in your financial well-being.
• Career growth. With an MBA in Finance, especially from a top school, you’re more likely to land senior roles faster. These positions not only pay more but also offer a chance to make a significant impact on the company.
• Networking. High-ranked schools have strong networks. You’ll meet industry leaders, successful alumni, and peers who can open doors to exciting job opportunities and partnerships.
• Global opportunities. A degree from a prestigious school is recognized worldwide, giving you the freedom to pursue careers across the globe.
• Enhanced skills. These programs teach you advanced skills in financial analysis and strategic decision-making, making you a strong candidate in the job market.
• Job security. Graduates from top programs often enjoy higher employment rates, as companies trust the quality of education they received.

Apart from all the benefits we mentioned, this Reddit user agrees that getting an MBA focused on finance is a good idea. They say that finance master’s programs are popular with new college grads and lots of students from other countries. Some of these programs are really good, just like the best MBA programs. But if you want more opportunities and flexibility, an MBA is better.

Jobs With an MBA in Finance

With an MBA in Finance, you can pursue roles in corporate finance, investment banking, and financial advising, among others.

Some common roles for MBA in Finance graduates include:

• Financial Analyst. Analyze financial data to help companies make investment decisions.
• Investment Banker. Assist in raising capital for companies and governments by issuing and selling securities.
• Portfolio Manager. Manage investment portfolios to achieve the highest return on investments for clients.
• Corporate Finance Manager. Oversee a company’s financial activities, including investments, budgeting, and fundraising.
• Risk Manager. Identify and manage potential risks to the financial health of the organization.
• Financial Advisor. Provide personalized financial advice to clients to help them meet their financial goals.
• Chief Financial Officer (CFO). Manage the overall financial actions of a company, including financial planning and risk management.
• Management Consultant. Advise companies on how to improve efficiency and profitability through financial strategy.

MBA in Finance Salary & Career Prospects

According to the U.S. Bureau of Labor Statistics, career prospects for MBA in Finance graduates are promising, with solid job growth in finance roles.

For example, financial analysts are projected to experience an 8% increase in job opportunities and earn a median annual salary of $96,220. Financial managers see a 16% growth rate and earn a median salary of $139,790.

However, actual earnings can vary based on factors such as the prestige of the business school, prior work experience, the specific role, and the employer.

To illustrate the variation in salaries, we have collected data from Glassdoor on salary ranges for common roles for MBA in Finance graduates.

• Financial Analyst: $81,000 – $128,000
• Investment Banker: $169,000 – $308,000
• Portfolio Manager: $126,000 – $221,000
• Corporate Finance Manager: $227,000 – $368,000
• Risk Manager: $129,000 – $224,000
• Financial Advisor: $131,000 – $242,000
• Chief Financial Officer (CFO): $245,000 – $442,000
• Management Consultant: $81,000 – $147,000

In a finance career subreddit, someone asked if people are happy. A user replied, saying after years of hard work, they’re really happy now. They’ve got a great job in private equity, work 35 to 40 hours a week, and earn about $500,000 a year. They love the work culture, have time for hobbies, and get great perks like pension + 401k, unlimited vacation, free food, work-from-home options, and a $10k family vacation fund. I’m sold!

Methodology: To determine the top 10 MBA in Finance programs, we looked at rankings from respected sources like US News, TopMBA, and Princeton Review.

We then evaluated each program based on key metrics that reflect their academic rigor and the value they offer to students. These metrics included the average GMAT/GRE scores of admitted students, the average undergraduate GPA, tuition and fees, acceptance rate, the percentage of international students, program duration, employment rate upon graduation, and the median salary of graduates.

This approach ensures that our list represents programs that not only excel in academic instruction but also in facilitating career opportunities for their graduates.

Disclaimer: In instances where the total tuition amount is not explicitly provided, it has been estimated by doubling the available first-year tuition. It’s important to note that this total amount is subject to change and may vary. Additionally, if the school did not provide the acceptance rate, the data presented in the table was sourced from Poets&Quants.