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Masters in Finance In Canada

Canada as a country is emerging as one of the significant destination for MFin. 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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Cananda is a multicultural space wherein people from different culture exist simultaneously resulting in diverse and rich environment. It makes Canada an ideal destination to study for international students and makes them interact vivaciously with each other. 
Besides, Canada accents its quality education with their distinct sytem and faculties, making it an ideal destination for students wishing to study abraod. 

Canada as a top destination has rich learning factor with students given working opportunities while they study. It also benfits the students as they can extra money for their daily expenses and improve their everyday lives.  
Many students gain innovative ideas while learning through the international exposure they benefit out of in Canada. Moreover, Canada has cheaper education expenses than America. It provides proper, comprehensive and cheap education than that of US.  Canada boasts of the top colleges and universities around the world as well.  

Such universities are seen regularly holding ranks in the QS Research, Times Higher Education etc. Thus, such a country with stable education system welcoming different cultures to their own maple culture, and having a meagre crime rate makes the international students consider canada as a haven for them. 

UBC Sauder School of Business

UBC Sauder

Vancouver, Canada

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.

Class Profile

Average Age : 24-43 years
Class Size : 110
Average Work Ex : 6 Years
Average GMAT : 650
Average GPA : 3.33

More About UBC Sauder

Queen’s University

Queen's University

Kingston, Canada

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.

Class Profile

Average Age : 30 years
Class Size : 110
Average Work Ex : 5 Years
Average GMAT : 600
Average GPA :

More About Queen’s

SFU Beedie

UBC Sauder

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.

Class Profile

Average Age : 28 years
Class Size : 100
Average Work Ex : 4 Years
Average GMAT : 600
Average GPA : 3.5

More About UBC Sauder

Rotman School of Management

University of Toronto

 Toronto, Canada

 

 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. 

Class Profile

Average Age : 31 years
Class Size : 210
Average Work Ex : 6 Years
Average GMAT : 679
Average GPA : 3.6

More About Rotman

University of Manitoba

IVEY business school

Winnipeg, Canada

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

Class Profile

Average Age : 28 years
Class Size : 161
Average Work Ex : 4 Years
Average GMAT : 610
Average GPA : 3.5

More About Uni of manitoba

HEC Montreal

Quebec, Canada

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

Class Profile

Average Age : 27 years
Class Size : 110
Average Work Ex : 4 Years
Average GMAT : 660
Average GPA : 3.5

More About HEC

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.

Class Profile

Average Age :  27 years
Class Size : 128
Average Work Ex : 5 Years
Average GMAT : 660
Average GPA :

More About Schulich

McMaster University 

Mcmaster

Ontario, Canada

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.

Class Profile

Average Age : 28 years
Class Size : 120
Average Work Ex : 3-5 Years
Average GMAT : 630
Average GPA : 3.6

More About McMaster

Be it a government agency or a private firm, every business and organisation have the need for financial managers who efficiently see and manage the proper preparation of financial reports, effectively strive to reduce the risks, perform various direct investment activities and business analytics and also perform efficient cash management. MBA, executive MBA and MFin in Canada are thus the most sought after graduate studies admission courses with high financial worth. 

These financial managers gain this expertise after getting an admission and doing a Masters In Finance. Pursuing a Master in Finance (Finance Canada) helps international students to enhance their knowledge, ability and skills in different finance areas. This knowledge further enhances their career and job prospects and potential in the area of Finance. Internationally United Kingdom and Canada’s market are most sought after for these courses. 

So if international students are looking to focus entirely on finance and its closely-knit fields, then admission in Master of Finance degree in Canadian university would be the best. Master in Finance/MSc Finance programs would give the mfin students comprehensive knowledge through its courses in finance theory, math, quantitative finance, risk management, markets, investment, financial reporting, and analysis.

Master in Finance (Finance Canada) can be done from the many top-notch business schools and universities all over the world including the United States, Europe, Australia, India & Canada. The country which has gained a lot of importance in terms of attractive immigration policies, great educational structure and a lower cost of living when compared to other big cities, is Canada.

Are you considering an admission in Master in Finance from Canada (Finance Canada)? Then it would be a great option as the country’s reputation for being friendly, its pristine wilderness and top in class universities have led the country towards becoming one of the world’s most aspired destinations for international finance postgraduates, and the number of mfin students is rising rapidly each year.

If you would like to know more about studying Master in Finance/MSc Finance in Canada, then read what follows next as it would help you take the decision of doing your Master in Finance from Canada.

 

Why choose Canada for Master in Finance? 

Thinking of going to Canada for your Masters? Well, you are not alone who is aiming for getting an admission to Canada for Masters (Finance Canada) as this is a country which is probably the most rapidly growing market in terms of overseas education with highest QS world university rankings institutions. Many international students are eyeing Canada for their higher studies. Many prestigious Canadian universities offer top-notch and quality education. According to reports every year about 1,80,000 international students migrate to this North American country for pursuing their higher education because of the attractive reasons like:

  • Quality Education.
  • Affordable Tuition Fee.
  • Low Cost Of Living.
  • Promising Safety & Security.
  • Better Healthcare.
  • Superb Campus Environment.

Watch our detailed YouTube Video on 

MSc Finance in Canada | Top Universities | Tuition Fees | Job Prospects

Universities in Canada Offering Master in Finance 

Rotman School Of Management (University of Toronto) : This prestigious business school is ranked on the 14thposition for the Master of Financial Risk Management and business administration degree it offers its students in QS world university rankings as world report. The Masters in Finance  (Finance Canada) program attracts many senior level students for admission who continue to work while they study in this 20-month finance masters course.

HEC Montreal : This college in Canada offers, through its course, a career as a financial analyst or a financial advisor. The program provides knowledge and expertise in the field of finance and risk management that applies to all real and present day financial challenges. The duration of the program is 16-24 months.

Alberta School Of Business : There are amazing Masters of Financial Management/MSc Finance program aptly delivering the knowledge which is necessary to become a successful finance manager at all the levels in an organisation. It is so designed that students, who aspire to become a Treasurer, learn risk management or become a CFO, find this course the most favorable.

Smith School of Business (Queens University) : The amazing Master in Finance/MSc Finance and Business administration course offered by Queens University offers its students a top world-class degree  without worrying about leaving their current job. Although considered a full-time program, you are free to work while you study. So go ahead and fast track your career in various fields of finance like investment, risk management, quantitative finance, banking and asset management.

Schulich School of Business (York University) : This degree gets its tag of the must-have degree for professionals specialising in finance and financial economics by the Financial Times of London for world report. The 12-month long full-time Masters program gives its students the superior real-world analytical, quantitative finance, risk management and finance training which is a must for a rewarding finance career.

University of Waterloo : This 16-month program offers Masters in Quantitative Finance and focuses on fundamental discipline concerning math, statistics, computer science, risk management and financial economics. The real time problems which need to be solved in today’s evolving finance industry is the main focus of this course.

Top Universities in Canada for Masters in Finance for International Students

Some of the top universities in Canada for masters in finance in Canada (Finance Canada) for international students are listed below:

  1. University of Toronto 
  2. University of British Columbia 
  3. McGill University 
  4. Queen’s university
  5. University of Montreal 
  6. University of Alberta
  7. University of Waterloo 
  8. Trinity Western University 
  9. York University 
  10. Concordia University 

Apart from the universities mentioned above, some Canadian universities offer masters in finance without GMAT, such as Royal Roads Universitys, Thompson Rivers University, University of Canada West, Trent University etc. 

 

Why should one study master’s in Finance in Canada? 

  • MS in Finance (Finance Canada) is a subject which helps in accounting and analysis along with knowledge on the interpretation of investments, global economic developments, portfolio management, risk management, financial analysis and corporate finance markets.
  • Master’s in Finance will help you build a firm foundation in business and financial principles along with extensively influencing your knowledge of risk management, portfolio management, banking, financial analysis, corporate finance, and other disciplines. 
  • Canada has the best institutions for studying masters  in Finance/Msc Finance (Finance Canada), with great career opportunities and recruiters. 
  • Higher education colleges and universities in Canada will combine practical insights with theoretical knowledge and teach indian students to derive solutions for the real world. 

Masters in Finance in Canada: Course Curriculum

Corporate Finance post-graduate degree is available as MS, MA and MBA. Each program teaches students different basic concepts of financial systems such as investment, financial reporting, tax law and investment. The standard curriculum for degrees in finance are: 

  • Financial Analysis & Reporting:- This module teaches students the learning of accounting and its related terms such as liabilities, assets, shareholders, risk management, financial statement analysis and corporate finance statements of equity wealth.
  • Corporate Finance:- Students are taught different valuation figures in terms of equity securities, debt and time. It gives them an opportunity to gain an outlook into financial statement analysis of different organisations.
  • Business Communication:- This subject strengthens students’ verbal and written communication skills. Their skills are developed by memos, reports, and emails and conducting lead presentations and meetings.
  • Business Taxation:- In pursuing MS in Finance/MSc Finance (Finance Canada), students must have a thorough knowledge of the federal income tax system and efficiency in  performing credits and debits for business expenses.
  • Investment Analysis:- Students learn about the market space and their functions by conducting analyses of portfolios’ securities. 

 Admission Process for Masters in Finance in Canada

Masters in Finance/MSc Finance in Canada (Finance Canada) varies from university to university for the specific admissions process in Canada. The admission application process consists of deadlines, eligibility criteria and admission requirements. 

Admission Deadlines for Masters in Finance in Canada

The admission application deadlines for the top universities of Canada offering a masters in Finance are are given below: 

University Application Deadlines
University of Toronto February 23
University of British Columbia
McGill University 1st March 2022 
Queen’s University Rolling admission
Universite de Montreal 1st March 2022 
University of Alberta 1st March 2022 
University of Waterloo 1st march 2022
Western University January 15th 2022 (every year)
York University 10th March 2022
Concordia University Fall: March 1

 

Eligibility Criteria for Masters in Finance in Canada

The common prerequisites for admission related processes of corporate finance in Canadian Universities such as standardized tests and academic preparations. The admissions criteria is for the international students only.  

  • Minimum GPA- Canada requires good academic background from its students with a minimum GPA of 3. The online programs do not have a GPA requirement. 
  • Academic Qualification- The students must have completed an undergraduate degree from an accredited university with relevant coursework in business statistics, financial theory, business finance etc. 
  • English Proficiency Tests- International students with non-native English speaking background must show English Proficiency Tests. The international students can submit scores of IELTS and TOEFL tests. 
  • Standardized Test Scores- For MS in Finance course, international students must apply for GRE and GMAT. The tests have a minimum requirement of 5.5-6 band etc.
University TOEFL  IELTS
University of Toronto 7.0
The University of British Columbia 90 iBT 6.5
McGill University 567 PBT/ 86 iBT 6.5
University of Waterloo 100 iBT 7.5
Western University 550 PBT/ 213 CBT/ 86 iBT 6.0

 

Admission Requirements for Master in Finance in Canada

Majority of Canadian Universities offering masters in Finance/corporate finance (MSc Finance) program with specific admission requirements are given below. 

  • Transcripts: Official transcripts are requested from the applicants with English translations of the University degree is another language. The transcript must be original and form the official source. 
  • Resume/ CV: The updated version of the resume or CV shows a detailed academic and professional history for securing an admission in MS in Finance. 
  • Work Experience: For masters in management or business administration, two years is usually expected out of the candidates. The significant career achievements, to gain a competitive edge in the selection procedure, it is necessary to have work experience in hand.
  • Personal Statement: A statement of purpose is essential for the application as it allows the candidates to show their distinct thought process and motivation for the program. The candidates can highlight their academic and professional achievements with a limit of 1-2 pages. The students can highlight their purpose and career journey. 
  • Letters of Recommendations: Each of the application forms consists of letters of recommendations with 2-3 letters expected out of the candidates. The letters must be from professional or academic recommenders who know the candidate on a personal level.

Masters in Finance in Canada Admission Timeline

The international candidates giving IELTS and GRE exams must be prepared to have a timeline of 3-4 months wherein they prepare for the exam. Different Universities have various deadlines for their admission application procedures. The results of GMAT and GRE are released between 10-15 days and the candidates can decide upon giving it again. The candidates are given 1-2 months time frame to draft a proper resume and statement of purpose for their admissions purpose. And in many cases, recommendation letters also take time. So the overall admissions timeline in Canada is diversified in a frame of one to two months.

Cost of Pursuing Masters in Finance in Canada

The degree masters in Business administration requires a good-financial backing from the candidate. MS in finance/MSc Finance from Canada will have tuition fees and living costs which must be covered by the candidates accordingly.

Pre Arrival Costs for Masters in Finance in Canada

The admission process has pre-arrival costs to be looked after by the candidates and they are part of the admission procedure for every applicant. The major elements of the pre-arrival costs are tabulated below:-

Expenses Costs in USD
Application Fees 75-150
Canadian Study permit Application Fee 150
Biometric Fee 85
Health Insurance 10,000
IELTS 185-190
TOEFL 160-250
Airfare 450-1400

 

Tuition Fees for Masters in Finance in Canada

The Indian students planning to study masters in Finance/corporate finance or MSc Finance in Canada (not online masters) must look into the following tuition fees. The students planning to study finance programs at top universities in Canada must study finance programs in top Universities of Canada with notable rates of tuition fees. For further information, students are advised to visit universities’ official websites.

University Course Tuition Fees (Per Year) (USD)
University of Toronto Master of Arts (MA) Financial Economics 26,970
Master of Finance 71,003
Master Financial Risk Management 66,650 
Master in Financial Insurance 42,490
McGill University Master of Management in Finance 57, 465
Master of Business Administration- Finance 99,500
Universite de Montreal  Master of Science (M.Sc) in Applied Financial Economics 30,000
University of Alberta Master of Arts in Economics & Finance 15,000
York University  Master of Finance 59,388 
Concordia Universiity  Master of Science in Finance 15,000 

Living Costs in Canada

The cost of living in Canada differs across various parts of the country. The basic structure of the average cost of living in Canada for international students is discussed below:-

Expenses Costs (USD)
Accommodation 190-570
Books & Supplies 230
Food (Per Meal) 8-20
Transportation 70
Other Related Expenses 55-115

Scholarships for Masters in Finance in Canada

Canada offers various scholarships, bursaries and grants to International students as it is the most reputed education destination worldwide. The scholarships cover the total cost of studying masters in Finance/MSc Finance in Canada as it covers the costs for the duration of course. These scholarships are available for International students: 

  • Banting Postdoctoral Fellowships:- The Canadian Government has various kinds of Scholarships and fellowships for international students who are planning to study in Canada. The scholarships are provided to help in improving Canada and its social and economic dynamics. 

Amount: 70,000 USD per year (taxable)

Duration: 2 Years (non-renewable)

  • NSERC Postgraduate Scholarships:- Outstanding students receive these scholarships for undertaking various courses related to Engineering and natural sciences fields from accredited universities. 

Value: $17,500 USD

Duration: 12 months (non-renewable)

  • Vanier Canada Graduate Scholarships Program:- The Government of Canada has sustained the Vanier Canada Graduate Scholarships program to provide financial assistance to students pursuing their graduate studies in fields of social sciences and humanities, natural sciences and/or engineering and health.

Amount: 50,000 USD per year

Duration:- 3 Years (non-renewable)

FEES AND COST OF LIVING IN CANADA

Average tuition fee for Canadian citizens or students who are choosing to earn a graduate degree in Canada should be ready to shell out around $1000 CAD more annually than the under graduation tuition fees which is $5000 CAD. It is evident that international students will need to pay a higher fee than the Canadian students which are nearly 3 times the amount. So to be precise a Masters degree will cost you between $16,250 CAD and $28,650 CAD.

The cost of living in Canada is low compared to living costs in big cities like London and New York. Canada welcomes students and immigrants to its universities and colleges thus the rules are also not tight like we witness in countries like USA, Australia, etc.

Job Opportunities and Career Prospects After Doing Master in Finance

After completing a Masters in Finance/MSc Finance, you have a choice of a career in finance like investment banking, personal financial advisor, corporate finance, financial planning. You can become a financial analyst in a company or a financial manager. There are many jobs in Canada and if we see the latest trends in the Canadian job market, they show that Canada is very actively giving PR to highly skilled international students/graduates with relevant qualifications. The figures indicate that the average salary of entry-level jobs is CAD $50,000-$60,000 per year.

 

Conclusion

Canada has definitely proved its presence in the education as well as the job market. In fact, it has emerged as a leader in higher education and that is probably the reason why it is so popular with international students coming into the country to do graduate studies in masters in corporate finance and get a job as well. With its not so strict rules and a comfortable cost of living for career services, Canada for sure is a great choice for students aiming to hit it big in the finance industry.

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FAQ’s

Do I need to submit my GMAT scores to do a Masters in Finance Canada?

 GMAT score requirement depends from University to University as some ask for it, and some don’t. For Masters in Finance specifically, GMAT scores are required out of the applicants.

What is the scope of a Finance Master’s degree in Canada?

A degree in  MS in Finance opens a lot of opportunities for the candidates as some job profiles include Investment Banker, Accounting Manager, Business Analyst and Financial Analyst.  Students can apply for various opportunities and have a brilliant scope afterwards. 

What are the top Canadian universities for Masters in Finance?

Western University, McGill University, University of Toronto, and University of British Columbia are the top Mfin Universities in Canada. 

How many hours can someone work on a student visa in Canada?

Students have the benefit of working for 20 hours per week during their ongoing semesters and during their breaks, they can work full-time. There are various part-time opportunities available in Canada. 

How much proof of funds do I need to show while applying for a study visa in Canada?

A student going without a spouse must show his Tution fees plus $10,000 per year or $ 833 per month for acquiring a study visa.

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