Know more about Masters in Finance Canada with details admission requirements, acceptance rate, scholarships & top colleges for MSc Finance Canada.
Masters in Finance Canada is a popular course among international students all over the world. Students who are interested in the evaluation of market trends, analyzing economic aspects of the financial market, assets, investments, etc., apply for this course. The duration of Masters in Finance in Canada ranges from 12-20 months, and the cost of studying this course comes up to $35,000 per academic year.
Students with a degree in masters in accounting and finance in Canada can get employed in various private and government enterprises and assist them in the financial decision-making process. Some of the top universities in Canada for a Masters of Finance in Canada, along with the admission requirements, fee details, scholarships, etc., for international students, are discussed.
Table of Contents
- Top Universities in Canada for Masters in Finance for International Students
- Top Masters in Finance Programs in Canada
- Course Curriculum of Masters in Finance Canada
- Admission Process for MS in Finance in Canada
- Tuition fees for MS in Finance in Canada
- Cost of Living in Canada
- Scholarships for International Students for Masters in Finance Canada
- Job Opportunities after Masters in Finance in Canada
Top Universities in Canada for Masters in Finance for International Students
Some of the top universities in Canada for masters in finance in Canada for international students are listed below:
- University of Toronto
- University of British Columbia
- McGill University
- Queen's University
- University Of Montreal
- University of Alberta
- University of Waterloo
- Trinity Western University
- York University
- Concordia University
Apart from the universities mentioned above, some Canadian universities offer masters in finance without GMAT, such as Royal Roads University, Thompson Rivers University, University of Canada West, etc.
Top Masters in Finance Programs in Canada
Canadian universities offer some of the best master's in finance programs. The table below provides the list of some of these programs, along with other necessary details:
|
Program |
University |
Duration |
Tuition Fees (in CAD) |
|
Financial Management Diploma |
2 years |
12,240/year |
|
|
Graduate Certificate in Professional Accounting Practice |
1.5 years |
17,468/year |
|
|
Graduate Certificate in Financial Planning |
Humber College |
1 year |
18,048/year |
|
Master of Financial Risk Management |
University of Toronto |
10 months |
66,650 |
|
Master of Finance |
2 years |
6432/year |
|
|
M.B.A in Finance |
University of Alberta |
2 years |
7680/year |
|
Master of Accounting |
University of Alberta |
2 years |
7680/year |
|
Master of Financial Economics |
16 months |
37,562/year |
Course Curriculum of Masters in Finance Canada
Post-graduate degrees in finance include MS, MA, and MBA. Each program, however, teaches students fundamental concepts of various financial systems within organizations, including financial reporting, investments, and tax law. A typical finance curriculum structure is as follows:
- Financial Analysis & Reporting:- Students gain knowledge of accounting and its related terms such as financial statements, shareholder equity, assets & liabilities, etc.
- Corporate Finance:- Students learn about valuation in the context of time, debt, and equity securities. In this way, they are able to gain insight into the financial statements of different organizations.
- Business Communication:- Through this course, students develop both their oral and written communication skills. These skills are developed through presentations, meetings, creating reports & emails, etc.
- Business Taxation:- While pursuing masters in finance, it is essential that students have a thorough understanding of the federal income tax system and understand how to perform credit and debit calculations for business expenses.
- Investment Analysis:- Through the analysis of portfolio securities, students learn about different methods of investment analysis.
Admission Process for MS in Finance in Canada
Similar to other programs, the admission process master in finance varies from one university to another. In this section, we will discuss the application deadlines of the top universities, along with eligibility criteria and admission requirements.
Application Deadlines
The application deadlines of the top Canadian universities that offer Masters in Finance are listed below:
|
University |
Application Deadlines |
|
University of Toronto |
January 10 |
|
University of British Columbia |
December 31 |
|
McGill University |
1st Deadline: November 15, Final Deadline: January 15 |
|
Queen’s University |
Rolling admission |
|
Universite de Montreal |
Fall: March 15, Winter: September 15 |
|
University of Alberta |
September Admission: July 1 January Admission: November 1 May Admission: March 1 July Admission: May 1 |
|
University of Waterloo |
January 15 |
|
Western University |
January 15 |
|
York University |
September 30 |
|
Concordia University |
March 1 |
Eligibility Criteria and Admission Requirements
International students are advised to apply for the different MS in Finance in Canada courses before the application deadline in time to apply for a Canadian study permit and Canada student visa. Different graduate schools have different application deadlines. International applicants are required to have at least 4-6 weeks buffer time to be able to prepare resumes and other admission documents. All the admission requirements for international students for an MSc Finance Canada are listed below:
- International students should have an undergraduate degree from a recognized university/ institution in any of the disciplines such as business statistics, financial theory, business finance, etc.
- Applicants with a minimum GPA of 3.0 are eligible to apply for an MSc Finance Canada degree. Online graduate programs have no requirements of minimum GPA for admission.
- International students should submit scores of standardized tests such as GMAT, GRE, etc. The minimum score varies for the different universities offering MS in Finance in Canada.
- Students should also prove English language proficiency through tests such as TOEFL, IELTS, etc.
- All official academic transcripts of previous years of education should be submitted along with their certified copies. English/ French translations of the official transcripts should be submitted by international students.
- International students should also submit their updated CV/ Resumes along with the application.
- A personal statement and letter of recommendation should be submitted by international students seeking admission in the different programs of Masters in Finance Canada.
- Valid work experience of a minimum of 2 years is mandatory for international students seeking admission in different masters in Finance Canada courses.
Tuition fees for MS in Finance in Canada
International students are required to bear the tuition fees for the different masters in Finance Canada courses that he/ she is enrolled in. Given below are the average tuition fees for the different masters in finance Canada courses offered in different Canadian universities for international students:
|
Name of the University |
Average Tuition Fees (per annum) |
|---|---|
|
University of Toronto |
● Master of Finance University of Toronto: $32,895 ● University of Toronto Master of Financial Economics: $17,827 ● Master of Financial Risk Management: $47,572 ● Master in Financial Insurance: $38,625 ● University of Toronto Financial Engineering Certificate: $24,940 |
|
McGill University |
● Master of Management in Finance: $17,760 ● Master of Business Administration in Finance: $32,930 |
|
Universite de Montreal |
● Master of Science (M.Sc) in Applied Financial Economics: $20,350 ● Masters in Financial Engineering Canada: $29,900 |
|
University of Alberta |
● Master of Arts in Economics & Finance: $7,875 |
|
York University |
● Master of Finance: $59,388 |
|
Concordia University |
● Master of Science MSc in Finance: $27,825 |
As we can see, the tuition fees vary for the different graduate schools offering a degree in MSc Finance Canada. Students also need to pay the average application fee of $75 -$150 and $150 towards the Canadian study permit.
Cost of Living in Canada
International students are required to bear the living expenses in addition to the tuition fees for the different MSc Finance Canada courses. The average cost of living in Canada can be categorised as follows:
| Particulars | Amount (in Canadian Dollars) |
|---|---|
| Accommodation Charges | $190- $570 |
| Books and Supplies | $230 |
| Food and Dining Costs | $8 - $20 |
| Transportation Charges | $70 |
| Miscellaneous Expenses | $55- $115 |
| Health Insurance | $10,000 |
Scholarships for International Students for Masters in Finance Canada
International students are required to bear the tuition fees for different MSc Finance Canada courses in addition to the living expenses in Canada. Several scholarship options are available for international students that cover the costs of tuition, living, incidental expenses, travel charges, etc. Some of the top scholarships for international students pursuing MSc Finance Canada are given below:
- Banting Postdoctoral Fellowships: This fellowship is granted by the Canadian government to international students enrolled in various masters courses and programs in Canada. An amount of $70,000 per academic year is awarded to international students for up to 2 years.
- NSERC Postgraduate Scholarships: This Canadian graduate scholarship is awarded to international students pursuing postgraduate degrees in engineering or natural sciences in Canada. The scholarship is valued at $17,500 for 1 year.
- Vanier Canada Graduate Scholarships Program: This scholarship in Canada is awarded to international students pursuing doctoral degrees or joint graduate research programs at any Canadian institution in the field of social sciences and humanities, natural sciences and engineering and health. The scholarship is valued at $50,000 per year for three years during the doctoral studies.
Job Opportunities after Masters in Finance in Canada
Studying master's degrees in Finance from Canada opens up many possibilities in the financial, service, and industrial sectors of the economy. Masters of Finance graduates in Canada earn around 123,000 CAD annually. The following table shows the average salaries offered to professionals who complete a master's in finance in Canada:
|
Job Profile |
Average Annual Salary (in CAD) |
|
Chartered Accountant |
104,000 |
|
Accounts Executive |
111,000 |
|
Budget Analyst |
142,000 |
|
Financial Analyst |
160,000 |
|
Financial Administrator |
147,000 |
|
Risk Management Director |
209,000 |
|
Tax Manager |
173,000 |
|
Tax Advisor |
125,000 |
|
Cost Accountant Manager |
167,000 |
|
Cost Analyst |
139,000 |
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