Masters in Finance in Canada

Reasons to Study Master’s in Finance in Canada

• World-Class Education: Canadian universities are globally recognized for their academic excellence and rigorous curriculum in finance.
• Diverse Career Opportunities: Graduates gain access to roles in investment banking, financial analysis, asset management, and more.
• Strong Financial Sector: Canada is home to a robust financial industry, offering numerous internship and networking opportunities.
• Post-Study Work Opportunities: International students benefit from post-graduation work permits and potential pathways to permanent residency.
• Affordable Tuition and Cost of Living: Compared to other countries like the USA or UK, Canada offers quality education at relatively lower costs.
• Scholarships for International Students: Numerous scholarships and financial aid options are available to support international students.

Eligibility Criteria and Admission Requirements for MS in Finance in Canada

• Educational Background: A bachelor’s degree in finance, economics, business, or a related field with a minimum GPA (usually 3.0 on a 4.0 scale).
• Standardized Tests: Most universities require GMAT/GRE scores, though some may waive this requirement.
• English Language Proficiency: International students need TOEFL (minimum 90) or IELTS (minimum 6.5) scores.
• Work Experience: Preferred but not mandatory for some programs; relevant internships or job experience enhance the application.
• Statement of Purpose (SOP): A well-written SOP outlining academic goals, career aspirations, and reasons for choosing the program.
• Letters of Recommendation (LORs): Usually 2-3 LORs from academic or professional referees.
• Updated Resume/CV: Highlighting educational qualifications, work experience, and achievements.
• Application Fees: Payment of non-refundable application fees for each university.

Top Canadian institutions for MSc Finance Course

 

University	Average Fees (CAD per year)
University of Toronto	47,000
McGill University	38,500
University of British Columbia (UBC)	45,000
Queen’s University	35,000
York University (Schulich)	40,000
Western University (Ivey)	50,000
Concordia University	30,000
HEC Montréal	32,000
Simon Fraser University	28,000
Dalhousie University	25,000

Cost of studying Masters in Finance course in Canada

The cost of pursuing a Master’s in Finance in Canada includes tuition fees, living expenses, health insurance, and additional costs such as books and transportation. On average:

• Tuition Fees: CAD 25,000 to 50,000 per year.
• Living Expenses: Approximately CAD 10,000 to 15,000 annually, covering accommodation, food, and utilities.
• Health Insurance: Mandatory for international students, costing around CAD 600 to 1,000 per year.
• Miscellaneous Expenses: Books, transportation, and personal expenses may add CAD 2,000 to 5,000.

 

Scholarships for Master’s in Finance in Canada for International Students

 

Scholarship Name	University Offering	Eligibility for Application
Ontario Graduate Scholarship	Various Ontario universities	Academic excellence, full-time graduate study
Schulich Leader Scholarship	York University	Demonstrated leadership and academic merit
HEC Montréal Excellence Fund	HEC Montréal	Academic performance, financial need
UBC Graduate Scholarships	University of British Columbia	High academic standing, research potential
McGill Entrance Scholarships	McGill University	Exceptional academic achievement
Canada Graduate Scholarships	Multiple universities	Research-focused programs, Canadian citizenship or PR (some exceptions for international students)

 

Career Opportunities After Pursuing a Master’s in Finance in Canada

 

 

Job Role	Average Salary (CAD per year)
Financial Analyst	65,000
Investment Banker	90,000
Portfolio Manager	85,000
Risk Analyst	70,000
Corporate Finance Manager	95,000
Asset Manager	80,000
Financial Consultant	75,000

FAQs

1. Is GMAT necessary for a Master’s in Finance in Canada?

GMAT is required by most universities but may be waived for candidates with exceptional academic records or extensive work experience.

 

2. Can I pursue a Master’s in Finance in Canada without the GRE?

 

Yes, many Canadian universities do not mandate GRE scores for admission to finance programs.

 

3. What is the eligibility for studying MSc in Finance in Canada?

 

Eligibility includes a bachelor’s degree in a relevant field, English proficiency scores, and often GMAT/GRE scores. Work experience and LORs are also considered.

 

4. Is a Master’s in Finance in demand in Canada?

 

Yes, finance professionals are in high demand in Canada’s thriving financial and banking sectors, with ample job opportunities post-graduation.

 

5. How do I apply for a Master’s in Finance in Canada?"

 

Research universities, ensure you meet eligibility criteria, prepare documents like SOP, LORs, resumes, and test scores, and apply online through the respective university portals.

 

Job Role	Average Salary (CAD per year)
Financial Analyst	65,000
Investment Banker	90,000
Portfolio Manager	85,000
Risk Analyst	70,000
Corporate Finance Manager	95,000
Asset Manager	80,000
Financial Consultant	75,000