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Best MFin Colleges in Canada | Comprehensive Guide
Canada as a country is emerging as one of the significant destination for Mfin in Canada. It has a very smooth immigration process with a space for multiculturalism. They provide diverse range of specializations which has resulted in significant increase of students’ numbers. The Canadian PR and Passport has resulted in a vast majority of students from different countries choosing the MFin route.
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Canada is a multicultural space wherein people from different cultures exist simultaneously resulting in a diverse and rich environment. It makes Canada an ideal destination to study for a Mfin in Canada and makes them interact vivaciously with each other. Besides, Canada accents its quality education with their distinct system and faculties, making it an ideal destination for students wishing to study abroad.
Canada as a top destination has rich learning factors with students given working opportunities while they study. It also benefits the students as they can use the extra money for their daily expenses and improve their everyday lives. Many students gain innovative ideas while learning through the international exposure they benefit from in Canada. Moreover, Canada has cheaper education expenses than America. It provides proper, comprehensive and cheap education than that of the US. Canada boasts of the top colleges and universities around the world as well.
Such universities regularly hold ranks in the QS Research, Times Higher Education etc. Thus, such a country with a stable education system welcoming different cultures to its own maple culture and having a meagre crime rate makes international students consider Canada as a haven for them.
Top MFin Colleges in Canada
UBC Sauder School of Business
Course Details: • MFin from UBC Sauder is a 16 months full-time program. • The fee for international students is $90,057 CAD* • You can get an average Salary of $89,681 after completing the degree.
Eligibility: • A 3 or 4 year’s undergraduate degree from a recognized institution. • A GMAT with a minimum of 550 points or 155 GRE score is required. • A minimum work experience of 2 years is required after bachelor’s.
Course Details: • MFin from Queen’s University is a 12-month full-time program. • The fee for international students is $71,595. • You can get an average Salary of $78,852 after completing the degree.
Eligibility: • A 4 year undergraduate degree is required. • A minimum 2 year work experinece is required. • IELTS, TOEFL, PTE OR MELAB accepted as english proficiency test.
Average Work Ex
British Columbia, Canada
Course Details: • MFin from SFU Beedie is a 16 months full-time program. • The fee for international students is $50,111 CAD* • You can get an average Salary of $67,856 after completing the degree.
Eligibility: • A 4 years undergraduate degree with grade point average of 3.33/4 from a recognized institution. • A GMAT with a minimum of 550 points or equivalent GRE score is required. • No minimum work experience is required after bachelor’s.
Course Details: • MFin from Rotman is a 20-month full-time program. • The fee for international students is $89,480. • You can get an average Salary of $99,400 including bonus after completing the degree.
Eligibility: • An appropriate 4 year undergraduate degree with at least GPA of 3.0. • Work experience with a minimum of 2 years is required. • TOEFL iBT- score of overall 100 with minimum of 22 in speaking and writing. IELTS- 7.0 with atleast 6.5 for each component.
Average Work Ex
University of Manitoba
Course Details: • MFin is a three term full-time program. • The program cost for international students is $38,800 • You can get an average Salary of $76,000 CAD including bonus after completing the degree.
Eligibility: • English proficiency test required, if no experience in an english speaking environment. IELTS, TOEFL accepted with certain scores. • a three year bachelor degree with 3.0 GPA • A GMAT minimum of 550 or equivalent GRE score is required
Average Work Ex
Course Details: • MFin from HEC Montreal is a 16-24 months full-time program. • The tuition and other fees for the program $30,500 until summer 2022 $34,500 from fall 2022. • You can get an average Salary of $56,622 after completing the degree.
Eligibility: • An undergraduate degree accredited from a renowned institution. • A GMAT with a minimum of 630 points or equivalent GRE result. • A language proficiency test such as IELTS/TOEFL is required
Average Work Ex
Schulich School of Business
Toronto, Ontario, Canada
Course Details: • MFin from Schulich is a 1.5-year full-time program. • The MFin program at Schulich Business School offers various studnet clubs • You can get an average Salary of $72,000 after completing the degree.
Eligibility: • A 4-year or a 3-year + (1 year work ex) undergraduate degree accredited from a renowned institution. • A minimum 100 TOEFL score with 23 in each subtest and 7.0 IELTS with 6.5 in each dimension is required. •full-time professional work experience is recommended, required for 3 year degree.
Course Details: • MFin from McMaster is a two-year full-time program divided into 4 semsters. • The estimated tuition fee for international students is $ 53,187
Eligibility: • A 4 year undergraduate degree accredited from a renowned institution. • A GMAT of 600 is generally required. • A minimum TOEFL (internet based test) score of 100 AND IELTS score 7.0 is required.
Average Work Ex
Studying finance in Canada is an excellent option for students looking for a world-class education and a diverse student community. Canada is known for its high quality of life, welcoming culture and excellent educational institutions. Pursuing a Masters in Finance degree in Canada can offer students a chance to develop advanced skills and knowledge in the finance industry while enjoying a unique cultural experience.
There are several universities in Canada offering top Masters in Finance programs that cover topics such as financial analysis, investment management, corporate finance and risk management. These programs typically take between 12 and 24 months to complete and students can choose to study full-time or part-time.
In addition to the academic benefits, studying Mfin in Canada provides students with access to a thriving student life. Canada is home to several vibrant and diverse cities with a range of activities, events and cultural experiences. Additionally, international students can benefit from Canada's welcoming culture and supportive communities making it easier to adapt to a new environment.
Types of MFin Colleges in Canada
There are 4 types of Mfin in Canada that cater to different needs and preferences of students. 4 types of Mfin Colleges in Canada are as follows:
1. Full-time MFin
This program is designed for students who want to complete their degree in a traditional classroom setting. Full-time MFin programs generally take one to two years to complete and require students to take a full load of courses each semester.
2. Part-time MFin
Part-time MFin programs are ideal for students who want to continue working while earning their degree. These programs are usually completed over two to four years and allow students to take classes in the evenings or on weekends.
3. Executive MFin
This program is specifically designed for mid-career professionals who want to enhance their finance skills and advance their careers. Executive MFin programs often require students to have several years of work experience in finance or a related field.
4. Online MFin
Online MFin programs offer students the flexibility to complete their degree entirely online. These programs are ideal for students who have work or family obligations that make it difficult to attend classes on campus.
MFin Colleges in Canada: Eligibility Criteria
To be eligible for a Mfin in Canada, candidates need to fulfill certain criteria. Firstly, they must have an undergraduate degree from a recognized institution with a minimum GPA requirement, which varies from college to college. Secondly, candidates should have a background in finance, accounting, economics. Most colleges prefer candidates who have completed courses in calculus, statistics and accounting.
Some colleges also require candidates to have relevant work experience in the finance industry. Lastly, candidates need to demonstrate proficiency in the English language through language tests such as TOEFL, IELTS or other equivalents. Some colleges may also require candidates to take the GMAT or GRE exams. It is important to note that the eligibility criteria may vary from college to college and candidates are advised to check the specific requirements of each college before applying.
Documents Required to Study MFin in Canada
Completed application form with personal and academic details
Official transcripts from all post-secondary institutions attended
Statement of purpose outlining academic and career goals
Resume or CV summarizing work experience and achievements
Letters of recommendation from professors or employers
Application fee payment confirmation
Educational qualifications required
To be eligible for Mfin in Canada applicants are generally required to have an undergraduate degree in a related field such as finance, economics or business. Some programs may also accept degrees in other fields with relevant work experience or additional coursework in finance.
Many MFin programs in Canada require applicants to have prior work experience in finance or a related field. The amount of work experience required varies depending on the program but typically ranges from 1-5 years.
Some MFin programs may require applicants to take standardized entrance exams, such as the Graduate Management Admission Test (GMAT) or the Graduate Record Examination (GRE). The specific exam requirements vary by program, so it is important to check the program’s admission requirements before applying.
International students whose first language is not English are usually required to provide proof of English language proficiency through standardized tests such as TOEFL or IELTS. Some programs may waive this requirement if the applicant has completed a degree in an English-speaking country or if they have demonstrated English proficiency through other means.
MFin Colleges Specializations in Canada
Mfin in Canada offer a wide range of specializations to cater to students' interests and career goals. Here are some of the popular MFin specializations available in Canada:
This specialization focuses on financial accounting, managerial accounting, and auditing. Students learn how to analyze and interpret financial statements, understand tax laws and apply accounting principles to real-world scenarios.
This specialization covers a broad range of financial topics, including investments, corporate finance and financial risk management. Students learn how to evaluate investment opportunities, make financial decisions and manage financial risk.
This specialization focuses on marketing strategy, consumer behavior and market research. Students learn how to develop marketing plans, analyze consumer behavior and conduct market research.
This specialization covers topics such as supply chain management, project management and process improvement. Students learn how to manage production processes, optimize supply chain operations and execute successful projects.
5. Human Resources
This specialization focuses on talent management, compensation, benefits and employee relations. Students learn how to develop and implement HR strategies, manage employee relations and design compensation and benefits packages.
This specialization covers topics such as business planning, venture capital and new venture creation. Students learn how to develop and pitch business plans, secure funding and launch successful ventures.
7. Information Technology Management
This specialization focuses on managing information technology systems, cybersecurity and data analytics. Students learn how to manage IT projects, secure information systems and analyze data to inform business decisions.
MFin in Canada Without GMAT
Many Mfin in Canada require applicants to submit GMAT (Graduate Management Admission Test) scores as part of the application process. However, there are also some MFin programs that do not require GMAT scores for admission. Here are some options for pursuing an MFin in Canada without GMAT:
Some MFin programs in Canada do not require GMAT scores for admission.
These programs typically evaluate applicants based on other factors such as their academic background, work experience, and language proficiency.
Some MFin programs that do not require GMAT scores may have higher minimum GPA requirements or require additional application materials.
It's important to research individual MFin programs to determine whether they require GMAT scores or not, and to consider all admission requirements before applying.
MFin in Canada Without Work Experience
While many MFin Colleges in Canada prefer applicants who have some work experience, there are also options for pursuing an MFin without any prior work experience. Here are some things to consider when looking for an Mfin in Canada without work experience:
Some MFin programs in Canada may not require work experience, while others may prefer candidates with prior work experience.
Candidates without work experience may need to have strong academic credentials and demonstrate their potential through other achievements, such as academic or extracurricular activities.
Some MFin programs may offer internship opportunities or other hands-on learning experiences that can provide practical skills and experience for candidates without prior work experience.
Candidates without work experience may need to demonstrate their motivation and passion for the field through their application materials, such as their personal statement or letters of recommendation.
Networking and building relationships with professionals in the field can also help candidates without work experience gain a better understanding of the industry and increase their chances of finding job opportunities after graduation.
MFin Colleges Cost in Canada
The cost of pursuing an Mfin in Canada can vary depending on several factors, such as the university, program length and whether you're a domestic or international student. Generally, the tuition fees for MFin programs in Canada range from around CAD 20,000 to CAD 70,000 per year. However, keep in mind that this is just the tuition cost and does not include additional expenses such as accommodation, textbooks, transportation and other living expenses.
It's worth noting that pursuing a higher education degree in Canada can be expensive, but the country offers several scholarship and funding opportunities to help students offset the costs. Be sure to research and apply to the various scholarships and bursaries available to you to help finance your MFin degree.
Average Cost of MFin Colleges in Canada
The average cost of pursuing an Mfin in Canada can vary depending on the institution, program duration, and whether you are a domestic or international student. On average, tuition fees for an MFin program in Canada can range from CAD 30,000 to CAD 60,000 per year for international students. Domestic students may pay less, with tuition fees ranging from CAD 15,000 to CAD 25,000 per year.
However, these costs are subject to change and it's recommended to check with the respective institutions for the most up-to-date information on program costs. Additionally, students must also consider other costs such as textbooks, housing, food, and transportation, which can vary depending on the location of the institution and the student's personal preferences.
Cost of living Expenses
Here are some of the typical expenses that Mfin in Canada can expect:
Accommodation: Housing is likely to be the largest expense for MFin students in Canada. On-campus housing is available in most universities, but off-campus housing can be more affordable. Rent for a one-bedroom apartment in a major city can range from $800 to $2000 per month.
Food and Groceries: Food and groceries can also be a significant expense. Eating out can be expensive, with restaurant meals costing an average of $15 to $25 per person. Cooking at home is generally more affordable, with groceries costing around $250 to $300 per month for an individual.
Transportation: The cost of transportation can vary depending on the city and the mode of transportation. Public transportation in most cities is reliable and affordable, with monthly passes costing around $100 to $150. Owning a car can be expensive, with gas prices averaging around $1.40 per litre.
Healthcare: International students are required to have medical insurance while studying in Canada. The cost of medical insurance can vary depending on the provider and the coverage. It is important to research and compare insurance plans to find the most affordable option.
Miscellaneous expenses: Other expenses such as clothing, entertainment, and personal care items can also add up. It is important to budget and plan for these expenses in advance.
MFin Scholarships for Canada
Sure, here are some scholarships for MFin colleges in Canada with a brief explanation:
1. Vanier Canada Graduate Scholarships
This scholarship is offered to international students pursuing a master's or doctoral degree in Canada. The scholarship provides $50,000 per year for up to three years.
2. Ontario Graduate Scholarship (OGS)
The OGS is a merit-based scholarship available to students pursuing a graduate degree in Ontario. The scholarship provides $15,000 for one year.
3. Trudeau Foundation Scholarships
The Trudeau Foundation Scholarship is awarded to students pursuing doctoral studies in social sciences or humanities. The scholarship provides up to $60,000 per year for up to three years.
4. Canada Graduate Scholarships-Master's (CGS-M)
The CGS-M is awarded to students pursuing a master's degree in a Canadian institution. The scholarship provides $17,500 for one year.
5. HEC Montréal Scholarships
HEC Montréal offers several scholarships for international students pursuing a master's degree in finance. These scholarships range from $5,000 to $15,000.
6. Global Leaders of Tomorrow Full Scholarship
This scholarship is offered by the Canadian government to international students pursuing a master's degree in Canada. The scholarship covers tuition fees, living expenses, and airfare.
7. Rotman Master of Finance Scholarships
The Rotman School of Management offers several scholarships for students pursuing a master's degree in finance. These scholarships range from $10,000 to $40,000.
8. Women in Finance Fellowship
The Smith School of Business offers a fellowship program for women pursuing a master's degree in finance. The fellowship provides financial assistance and mentorship opportunities.
9. Calgary Graduate Scholarship in Finance
This scholarship is offered by the University of Calgary to students pursuing a master's degree in finance. The scholarship provides $10,000 for one year.
MFin Jobs and Placement for Canada
After completing an Mfin in Canada, graduates have a wide range of career opportunities in finance, accounting, and other related fields. Some common job roles for MFin graduates in Canada include financial analyst, investment banker, risk manager, portfolio manager, and financial advisor.
Many MFin colleges in Canada have strong connections with top companies and financial institutions, which can help students secure internships and job placements. Some of the top recruiters for MFin graduates in Canada include major banks such as RBC, TD Bank, and Scotiabank, as well as consulting firms like Deloitte and PwC.
According to a recent survey, Mfin in Canada have an average starting salary of around $70,000 to $80,000 per year, with the potential to earn even more as they gain experience and advance in their careers. The job market for finance professionals in Canada is generally strong, with many opportunities available in major cities like Toronto, Vancouver, and Montreal.
Types of Job Roles for MFin Colleges in Canada
Financial Analyst: Analyzes financial data and prepares reports to support decision-making processes. Investment Banker: Advises clients on financial strategies, assists in mergers and acquisitions, and raises capital for companies.
Risk Manager: Identifies and assesses potential risks and develops strategies to manage them.
Portfolio Manager: Oversees investment portfolios and makes decisions on how to allocate funds.
Financial Planner: Helps clients develop and achieve their financial goals through investment strategies, insurance, and retirement planning.
Credit Analyst: Evaluates the creditworthiness of individuals or organizations and recommends credit limits and terms.
Industries that Hire MFin Graduates
Banking: MFin graduates are in demand in the banking industry, especially in roles such as investment banking, commercial banking, and risk management.
Consulting: Consulting firms often seek MFin graduates for their expertise in financial analysis, strategy development, and risk management.
Asset Management: Asset management firms hire MFin graduates to manage investment portfolios and make investment decisions.
Insurance: Insurance companies hire MFin graduates for roles such as underwriting, risk management, and actuarial analysis.
Government: MFin graduates may work in government agencies or departments in roles such as financial analysts, economists, or budget analysts.
Non-profit organizations: MFin graduates can work for non-profit organizations in roles such as financial analysts or fundraising professionals.
Average Salary for MFin Colleges in Canada
The average salary for graduates of Mfin in Canada can vary depending on a number of factors, such as job role, industry and region. According to data from PayScale, the average salary for an MFin graduate in Canada is approximately CAD 83,000 per year. However, this can range from as low as CAD 50,000 to as high as CAD 140,000 depending on the individual's qualifications and experience.
In terms of job roles, MFin graduates can typically find employment in a variety of positions, including financial analyst, investment banker, risk manager and financial manager. The average salary for financial analysts in Canada is around CAD 63,000 per year, while investment bankers can earn an average salary of CAD 105,000 per year. Risk managers can expect to earn an average salary of CAD 94,000 per year, while financial managers can earn an average salary of CAD 99,000 per year.
Average salary by Job Role
Financial Analyst: The average salary for a financial analyst in Canada is around CAD 60,000 to CAD 80,000 per year.
Investment Banker: Investment bankers are among the highest-paid professionals in the finance industry. The average salary for an investment banker in Canada is around CAD 100,000 to CAD 150,000 per year.
Risk Manager: Risk managers are responsible for identifying and analyzing potential risks that may affect a company's financial well-being. The average salary for a risk manager in Canada is around CAD 90,000 to CAD 120,000 per year.
Portfolio Manager: Portfolio managers are responsible for managing investment portfolios for clients, including stocks, bonds, and other securities. The average salary for a portfolio manager in Canada is around CAD 100,000 to CAD 150,000 per year.
Financial Advisor: Financial advisors work with clients to help them achieve their financial goals. The average salary for a financial advisor in Canada is around CAD 50,000 to CAD 80,000 per year, with the potential to earn more through commissions and bonuses.
Average Salary by Industry
Here are some average salaries by industry for Mfin in Canada:
Finance and Banking - $70,000 to $130,000 per year
Consulting - $70,000 to $120,000 per year
Accounting - $60,000 to $100,000 per year
Technology - $70,000 to $120,000 per year
Energy and Natural Resources - $70,000 to $110,000 per year
Real Estate - $60,000 to $100,000 per year
Average Salary by Region
Here are some approximate average salaries for MFin graduates in different regions of Canada:
Ontario: MFin graduates in Ontario can expect an average salary of around CAD 90,000 to CAD 120,000 per year, depending on the job role and industry.
British Columbia: The average salary for MFin graduates in British Columbia is around CAD 80,000 to CAD 110,000 per year.
Quebec: MFin graduates in Quebec can expect an average salary of around CAD 70,000 to CAD 100,000 per year, depending on the job role and industry.
Alberta: The average salary for MFin graduates in Alberta is around CAD 85,000 to CAD 110,000 per year.
Top MFin Colleges Recruiters in Canada
Sure, here's some information about each of these top recruiters for MFin graduates in Canada:
Deloitte: Deloitte is a multinational professional services network with a strong presence in Canada. The company provides audit, consulting, financial advisory, risk advisory, tax, and related services to clients across a variety of industries.
RBC: The Royal Bank of Canada (RBC) is one of Canada's largest banks and a leading financial services provider. The company offers a wide range of services to individuals, businesses, and institutional clients, including banking, investing, and wealth management.
TD Bank: TD Bank Group is a leading Canadian bank with a global presence in the United States and other countries. The company provides a range of financial products and services to its clients, including personal banking, business banking, and investment solutions.
CIBC: The Canadian Imperial Bank of Commerce (CIBC) is one of Canada's largest banks and provides a range of financial services to clients across the country. The company offers personal and business banking solutions, as well as wealth management and investment services.
Scotiabank: Scotiabank is one of Canada's largest banks and a leading financial services provider in the country. The company offers a range of banking, investment, and wealth management services to clients across Canada and around the world.
BMO: Bank of Montreal (BMO) is a leading Canadian bank and financial services provider with a global presence. The company offers a range of banking, investment, and wealth management solutions to clients across Canada and internationally.
KPMG: KPMG is a global professional services company with a strong presence in Canada. The company provides audit, tax, and advisory services to clients across a range of industries and sectors.
PwC: PwC is a multinational professional services network with a significant presence in Canada. The company provides audit, advisory, and tax services to clients across a range of industries and sectors.
Why Study MFin Colleges in Canada?
There are several reasons to study Mfin in Canada. Here are some of the main ones:
Quality Education: Canada is home to some of the top universities in the world, offering quality education and research opportunities. MFin colleges in Canada are well-regarded and provide students with a solid foundation in finance and related fields.
Career Opportunities: Canada has a stable economy and a growing finance sector, offering many career opportunities for MFin graduates. Additionally, many MFin colleges in Canada have strong relationships with industry partners, providing students with networking opportunities and access to job openings.
Multicultural Environment: Canada is a diverse country with a welcoming and inclusive culture. MFin students in Canada can expect to study and work with people from different backgrounds and cultures enhancing their learning experience and preparing them for a global career.
Post-Study Work Permit: International students who complete an MFin degree in Canada are eligible for a post-study work permit, allowing them to gain valuable work experience in Canada for up to three years after graduation.
High Quality of Life: Canada is known for its high quality of life, with a safe and stable political environment, affordable healthcare and clean and beautiful natural surroundings. MFin students in Canada can enjoy a great quality of life while pursuing their studies and career goals.
In conclusion, pursuing an MFin degree from a reputable Canadian university can offer numerous benefits for both domestic and international students. Canada has several world-renowned universities offering MFin programs with a range of specializations and opportunities for career growth. The country's stable economy, multicultural environment, and high standard of living make it an attractive destination for students from around the world.
Additionally, there are various scholarship opportunities available to help ease the financial burden of pursuing an MFin degree. Graduates of Mfin in Canada can expect competitive salaries and a diverse range of job opportunities in various industries. Overall, studying MFin in Canada can be a rewarding experience for those seeking to advance their careers in the finance industry.
Know Your Author
Study Abroad Expert
Abhyank Srinet, the founder of MiM-Essay.com, is a globally recognized expert in study abroad and admission consulting.His passion lies in helping students navigate the complex world of admissions and achieve their academic dreams.
Having earned a Master's degree in Management from ESCP Europe, Abhyank's expertise in data-driven marketing strategies has driven growth for some of the most competitive industries. As the founder of MiM-Essay.com, he has helped thousands of students get into top business schools with a strong emphasis on research, shortlisting, and applying to schools from a single platform. His dedication to education has also led him to create MentR-Me, a free-to-use social platform that simplifies the study abroad process for students, while providing universities with a powerful recruitment tool.
As a leader in the field of admission consulting, he is constantly researching and implementing the latest strategies to ensure that his clients receive the best possible guidance. He leads the Business Development and Digital Marketing side of both companies, and has grown both ventures to 7 figure revenue.His unique insights, experience, and dedication to his clients make him a valuable resource for anyone seeking to advance their education or career.
How do I apply for admission to MFin colleges in Canada?
Indian students can apply directly to universities through their websites or through a centralized application system such as the Ontario Universities Application Centre (OUAC). Students may also need to submit transcripts, letters of recommendation, and a statement of purpose.
How much does it cost to study MFin in Canada as an Indian student?
The cost of studying MFin in Canada varies depending on the university and the city, but international students can expect to pay higher tuition fees than domestic students. Additionally, Indian students will need to consider the cost of living, such as accommodation, food, and transportation.
Are scholarships available for Indian students studying MFin in Canada?
Yes, there are scholarships available specifically for international students studying in Canada, including Indian students. Students can search for scholarships on the websites of individual universities, as well as through external organizations such as the Canadian Bureau for International Education (CBIE).
What are the job prospects for Indian students after completing an MFin degree in Canada?
Canadian employers are increasingly looking for candidates with international experience and education, and MFin graduates may find job opportunities in a variety of industries and roles, both in Canada and internationally. Some universities also offer career services and job placement assistance for their graduates.
Q: What are the documents required for admission to MFin colleges in Canada for Indian students?
The required documents may vary depending on the university, but typically, Indian students will need to submit transcripts from their previous education, letters of recommendation, a statement of purpose, and proof of English language proficiency. They may also need to submit standardized test scores, such as GRE or GMAT.