Applying to A Finance School In The USA? | Here’re Top 10 Tips

3 years ago
Gary B
Applying to A Finance School In The USA? | Here’re Top 10 Tips

Are you a bright-eyed, young, enthusiastic high school graduate? Have you decided to opt for finance? It is surely a very lucrative field, but what is next? It is certainly a valid question as your life’s next 4 years will impact the whole of your life.

Well, there are many things to consider and here we are with the 10 best Tips to make it to the best finance school in the USA.

1) Make up your mind

This really cannot be stressed enough. A bachelor’s degree is no small feat to obtain. You as a student will be investing hard work, time, and money into acquiring it. So, ask yourself once more: do I want to go into Finance? Talk to your family, get advice from teachers and seniors.

2) Employment

The college you wish to apply for has to be a very secure choice, in terms of the benefit you’ll get once out of it. And the easiest way to measure post-college benefits is the employment rate. Currently, finance majors contribute to about 3.6% of the USA’s employees, and most of these are scattered around colleges such as New York University and the University of Pennsylvania, which are currently presented as having the best business colleges all across America.

3) Budgeting

Budgeting should at least include, but does not have to be limited to:

  • Application fees (forms, traveling if need be, etc.)
  • Semester fees
  • Hostel fees/rent
  • Living expenses (food, groceries, and household items)

Online sources have loads of information for students in search of affordable living places.

Applying to A Finance School In The USA? | Here’re Top 10 Tips

4) Quality of Education

A big factor to consider is that are you getting any sort of return for all the energy and cash you’re pooling together. The quality of education is a must. You need to look for the best university in terms of quality education. New York is widely considered as the center of financial education across both the USA and the rest of the world. When choosing your finance school you need to look at three things in particular (1) Best Professors (2) Learning Environment and (3) Where are its graduates placed in the industry?

5) Ranking

It goes without saying that everyone applying for finance schools will lookup rankings for schools in the USA. While the US doesn’t have an official ranking system to place all of its colleges under, there are quite a few unofficial sites that consider different factors and thin the herd.

6) Internships

As a college student, you’re not going to directly apply at Goldman Sachs or the Bank of America and expect to get your foot into the industry, but small businesses matter as well. Any sort of experience works, but your best bets are to apply in positions related to the field of finance. Get clerkships, observations in small banks and businesses, and whatnot. In an effort to paint a realistic portrait, it should be stated that most internships are unpaid. So, don’t feel too down over not getting one.

7) Application Process

Most applications will require the same things. SAT scores, GPAs (or whatever equivalent constitutes grading for international students), a CV detailing your work experience, extracurricular, letters of recommendation, and your personal statement.

8) Personal Statement

Colleges are looking for exceptional work in personal statements, so never go with a first draft. Keep redrafting until it is as close to perfect as possible. Read accepted personal statements online, enlist the help of your high school teachers, and pool all possible resources. Try to really convey your genuine interest in finance.

9) Firmly Establishing Yourself in Finance

When selecting your courses, make sure to root yourself in relevant subjects. Your majors and minors need to reflect your future interest in the financial world. Economics and advanced math are pretty good choices for minors, but there’s a wide variety to choose from, depending on your choice. Communication is a mainstay, due to its relevance in the field. You can’t make strides in finance if you can’t communicate with clientele effectively.

10) Scholarships

This is incredibly important. Nail down any and all avenues to score scholarships. Check listings in the colleges you’re applying to. Check requirements. Are they need-based? If so, what does the college consider as “need-based”? Or are they reliant on merit?