Masters in Finance in Canada: Top Universities, Eligibility & Fees

A comprehensive guide to pursuing Masters in Finance in Canada

Masters in Finance is an advanced degree that provides students with comprehensive knowledge of financial markets and analysis techniques. An MS in Finance course is suitable for graduates seeking career opportunities in various finance fields, such as banking, corporate finance, risk management, and financial planning. For Indian students interested in pursuing a master's degree in finance, Canada is the best option due to its strong and diverse economy. Home to world-class universities, high-quality education, and welcoming culture, Canada is the ideal country to further your higher education.

Why Study Masters in Finance in Canada?

Canadian universities are well-equipped to provide the skills and knowledge necessary for a career in the financial sector. MS in Finance, or, MFin is one of the most sought-after finance courses in Canada that is offered both in full-time and part-time formats at the country’s top universities and colleges. Here’s what makes Canada a perfect choice for you

• The MSc Finance curriculum in most Canadian colleges and universities centers on providing practical knowledge, with ample opportunities to accelerate your career and develop your potential. A master’s in finance degree provides you with the necessary expertise and abilities to excel as a valuable decision-maker.

• Masters in Finance degree in Canada can set you on a promising career path following completion of the program. Canadian universities have close ties within the business community, giving you access to a network of professionals in the field and helping you build a strong foundation for your career.

Eligibility Criteria and Admission Requirements for MS in Finance in Canada

The two-year MS in Finance program is quite comprehensive and helps prepare students to finetune their working knowledge of finance and upskill their abilities in the domain to carve a better and brighter career path for themselves in the financial industry.

Here are the common eligibility requirements for Masters in Finance course in Canada -

• An Undergraduate degree or Bachelor's in Finance or a related field of study.

• GMAT/GRE scores

• English language proficiency test scores

• Work experience (if applicable)

Along with meeting the requirements stated above, you are required to submit the following documents as part of the admission process for the MS in Finance program:

• Copies of academic transcripts of your education so far,

• Statement of Purpose or SOP for masters

• Updated CV

• Letters of Recommendation (minimum 2) from a previous institution/employer

Top Canadian institutions for MSc Finance Course

Many universities and colleges in Canada are renowned globally for their high-quality education system, and infrastructure, this is evidenced by their ranking in the QS World University Rankings and THE World University Rankings. Here is a list of some of the highly preferred universities that offer Masters in Finance course in Canada.

Ref: https://www.topuniversities.com/university-rankings/university-subject-rankings/2022/accounting-finance

Ref: https://www.timeshighereducation.com/world-university-rankings/2023/world-ranking#!/page/0/length/25/locations/CAN/sort_by/stats_pc_intl_students/sort_order/desc/cols/stats

Cost of studying Masters in Finance course in Canada

The average tuition fee for MS in Finance course ranges from 30,000 CAD - 88,000 CAD annually.

Additional to this, your cost of studying in Canada also depends on which Canadian province you choose to live in, type of accommodation you’ve chosen to stay in, your lifestyle and other factors. You can use our cost of living calculator tool to check your living expenses additional to the tuition fee in Canada.

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

A Masters in Finance degree from a Canadian educational institution includes opportunities for scholarships and bursaries for meritorious students. Check out some of the most popular scholarship options available to Indian students-

Disclaimer: The values provided on this site are for informational purposes only. For the most accurate and up-to-date information, please refer to the official university or organization website.

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

The Master’s in Finance Canada salary offers are competitive and attractive to the course graduates. The average annual salary offered to an entry-level MS Finance graduate in Canada is approximately 60,000 CAD.

The financial sector in the country has a high number of job vacancies that are likely to open up for applications from students who complete the MS in Finance program from a reputed Canadian university.

Some of the highly sought-after job roles in the Finance sector that appear lucrative to MS Finance graduates include:

• Chartered Accountant or CA

• Risk Manager

• Budget Analyst

• Financial Analyst

• Market Research Analyst

If you want to pursue MS in Finance in Canada and have any queries, you can reach out to IDP’s international education experts who can help you with the entire admission process.

FAQs

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

GMAT is not an absolute mandate for pursuing an MS program in Finance from a Canadian university. For example, some universities in the country offer courses without GMAT as the prerequisite admission requirement. However, note that some of these institutions may require other eligibility criteria to be satisfied for admission into the course, such as a minimum period of professional work experience in Finance or a related field.

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

Some universities in Canada accept admission applications for the MS in Finance course without needing the students' GMAT scores. However, they may sometimes require the student to submit GRE test scores. On the other hand, some universities may completely waive off the GRE/GMAT test score submission and specify some other eligibility criteria to satisfy, such as Bachelor's in Finance or prior work experience in the field. Therefore, it is generally advisable to check with the university you're applying to about their GRE/GMAT requirements.

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

All international students applying for the MSc Finance program at a Canadian university must submit the academic transcripts of every institution they have attended so far (at the time of applying for a Master’s). They must also possess a Bachelor’s in Finance or any related field to be eligible for an MS application.

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

An MS in Finance degree from an internationally recognized university in Canada will likely open up many job opportunities for graduates. This is why several international students are attracted to Canadian universities to pursue the Master's program in Finance.

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

If you have a Bachelor’s or Undergraduate degree in Finance, Business, or any related field of study and a minimum IELTS test score of 6.5-7.5, you are eligible to apply for an MS in Finance course at a university in Canada. However, all universities in the country have different requirements so it’s best to verify with the university that you’re applying to about their specific criteria for the course.

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