Finance can be an intimidating subject to learn but it is important as it’s the major factor that drives economic growth and development. Finance includes managing resources, funds, personal budgeting, and making strategic financial decisions.
By definition, finance is – “The management of large amounts of money, especially by governments or large companies.” Today, various finance institutes are offering high-quality finance education.
Why learning Finance is important?
- Helps with economic stability by managing inflation and overall monetary policies.
- Helps businesses grow by fueling expansion, innovation, and day-to-day operations.
- Helps you learn more about stocks, real estate, bonds, and other finance tools.
- Helps mitigate risks, and ensures businesses and individuals can navigate uncertainties effectively.
By pursuing a career in finance you will not only know the business side of it but will also be able to make personal finance-related decisions. Learning about finance in depth will open doors in fields like financial analysts, investment bankers, wealth managers, financial advisors and planners, and risk managers. You will be able to contribute to strategic decision-making on a large scale.
Now that you know why learning finance is important and the wide career options in it, the next step is to find the right finance institutes for it. But there are so many institutes in the world which can be confusing for you. Hence, We have curated the top 10 finance institutes from around the globe to make that process easier for you.
Top 10 Finance Institutes
1. Harvard University
It was founded in 1636 as Harvard College and is the oldest university in the United States. It is one of the most prestigious finance institutes as it teaches finance and economics by discussing real-life business cases. There are various webinars, workshops, and virtual classes apart from the main course that you can opt for. The fee and cost of living will be around USD 50,000 per year.
2. University of Pennsylvania
University of Pennsylvania or Wharton School of the University of Pennsylvania is the US’s first business school that was established in 1881. It offers online and offline courses and conducts ventures, which are outdoor trips where they teach students how to develop leadership skills, manage stress, and make critical decisions. The fee and cost of living will be around USD 50,000 to 60,000 per year.
3. University of Chicago
The University of Chicago has eight professional schools, one of which is Booth School of Business (Chicago Booth). It was established in 1898 and is the second oldest business school in the US. It has recently launched a Master in Finance program. The fee and cost of living here will be around USD 55,000 to 60,000 per year.
4. New York University
New York University is a private research university that was founded in 1832 and offers a wide range of courses in finance and economics. The percentage of finding a job prospect after graduating is high here, but so are the expenses. The fee and cost of living will be around USD 80,000 to 85,000 without a scholarship program.
5. Columbia University
Columbia University is a private Ivy League research university in New York City that was established in 1754 as Kings College. It offers a wide range of finance courses and the fee and cost of living is around USD 80,000 which can be reduced to USD 14,000 after aid and scholarships.
6. Massachusetts Institute of Technology
Massachusetts Institute of Technology was established in 1861 and is a private research university. The Sloan School of Management at MIT offers courses in finance with its fee and living cost being around USD 60,000 per year.
7. Stanford University
Stanford University (Leland Stanford Junior University) was established in the year 1885, by Leland and Jane Stanford. It is a private research university that offers offline and online courses in finance. The average fee and cost of living is around USD 55,000 per year.
8. University of California-Berkeley
The University of California is a public land grant research university that was established in 1868 in Berkeley, US. Being a public university, it offers low fees for international students. It ranges from USD 43,000 to 50,000 with additional cost of living.
9. University of Michigan
The University of Michigan is a public research university in Ann Arbor, Michigan. It was founded in 1817 and is the oldest institution of higher education in the state. It offers various courses in finance and economics. The fee and cost of living is around USD 35,000 to 40,000 per year.
10. Duke University
It is a private research university in Durham, North Carolina. It was Founded in 1838, in the present city of Trinity but moved to Durham in 1892. Duke University offers courses in finance and economics, having a fee of around USD 80,000. With scholarships and aids, it comes down to USD 30,000.
Apart from these top 10 finance institutes, you can also opt for these additional institutes listed below,
- Boston College (Boston, Massachusetts)
- Cornell University (Ithaca, New York)
- Dartmouth College (Hanover, New Hampshire)
- Georgetown University (Washington D.C., United States)
These universities offer scholarships and additional aid too. Before choosing any of the finance institutes listed above, make sure that you have researched about the university to match your preferences and finances.
Studying in these prestigious universities can be a great opportunity if you want to pursue a career in finance and economics. With a good learning structure, you will explore the different aspects of finance and money management.
