For overseas students hoping to further their careers in the banking sector, MS finance Canada programme is highly sought after. The course offers a thorough curriculum that covers a range of financial topics, such as financial modelling, investment management, and financial analysis. According to statistics, a bachelor's degree in a comparable discipline and a minimum GPA of 3.0 are often required for admission to master's programmes in finance in Canada. The curriculum is cheap and offers excellent value for money, with an average tuition expense of 30,000 CAD to 88,000 CAD (17.96 lakhs to 52.70 lakhs INR) each year for foreign students. Students may anticipate making an approximate median income of 80,000 CAD after graduation. Graduates in finance in Canada pursue lucrative careers as financial analysts, investment bankers, tax advisors, financial managers, and other related positions.
One of the most sought-after degrees in Canada for international students is a master's in finance. Students that are interested in examining and comprehending financial markets, investments, assets, and obligations favor it. The top Canadian institutions for finance provide cutting-edge, worthwhile, and unusual experiences to overseas students. Canada offers the full package when it comes to excellent education, enormous employment options, and exceptional industry exposure. A master's degree in finance is undoubtedly your best option if you enjoy the study of finance as a discipline and are interested in studying financial trends and financial markets. And where better to begin your postgraduate career in finance than in Canada? The finest institutions in Canada for masters in finance will undoubtedly provide you possibilities that will change your life, with a starting salary of about 60,000 CAD.
Why Choose MS Finance in Canada?
One of the widely sought-after programs is the MS Finance Canada. Learn why the Master's in Finance program in Canada is so well-liked by foreign students:
- Highly valued course:
The MS in Finance from Canada is one of the most esteemed and lucrative programs available today. Graduate students in finance can find rewarding professions as financial analysts, investment bankers, tax advisors, financial managers, and more.
- Quality Education:
The top colleges in Canada for Master's degrees in Finance have distinguished themselves internationally by offering the best facilities. Canada is widely known for providing excellent educational and professional opportunities to overseas students.
- An extensive variety of specialties and courses:
Many other specialties, including professional financial services, financial planning, insurance management, and financial analytics, are offered to students at some of the finest finance schools in Canada.
- Promising job path:
You will be able to apply for highly competitive job vacancies with recognized recruiters once you have earned your MS in Finance in Canada. Furthermore, after earning your master's degree, you can pick from a wide variety of scholarships to continue your studies in finance.
Admission Deadlines of Universities in Canada for Masters in Finance
Given below is a table of the top universities in Canada and the range of Master in Finance programs they offer with admission deadlines:
|University||Programs Offered||Admission Deadlines|
|University of Toronto|
Master of finance,
Master of Financial Economics,
Master of Financial Risk
Management, Master of Financial,
Master in Accounting & Finance
Nov 30th, 2022,
Mar 1st, 2023,
Apr 1st, 2023,
July 19th, 2023
MFE Deadline: Jan 10th, 2023,
MFI Deadline: Jan 15th, 2023,
MFRM Deadline 1: Nov 23rd, 2022,
MFRM Deadline 2: Feb 8th, 2023
|University of British Columbia||MS in Business Administration (Finance)|
Application Deadline: Dec 31st, 2022,
Transcript Deadline: Jan 10th, 2023,
Referee Deadline: Jan 31st, 2023
|University of Waterloo||Master of Quantitative Finance||January 15th, 2023|
|McGill University||Master of Management in Finance, MBA Finance|
First Application Deadline: Dec 15th, 2022,
International students' last day to submit applications: Jan 15th, 2023
|University of Alberta||MBA in Finance, Master of Financial Management, MA in Economics and Finance|
September Intake Deadline: Apr 1st, 2023,
January Intake Deadline: Sep 15th, 2023
|Queen’s University||Master in Finance||Rolling|
|Universite de Montreal||MS in Finance, MS in Financial Engineering, MS in Management - Finance, MS in Mathematical and Computational Finance|
Fall Deadline 2022: Mar 15th, 2022,
Winter Deadline 2023: Sep 15th, 2023
|Western University||MBA in Finance|
Sep 19th, 2022,
Nov 7th, 2022,
Jan 9th, 2023
|Concordia University||MS in Finance||Fall Deadline: Feb 1st, 2023|
|York University||Master of Finance, Master of Financial Accountability|
Winter Deadline 2022: Nov 15th, 2022,
Summer Deadline 2023: Mar 15th, 2023,
Fall 2023 Deadline: Aug 15th, 2023
Eligibility Requirement for MS Finance in Canada
The admissions procedure for a Master's degree in Finance differs from institution to university, as it does for other programs. The application dates, eligibility standards, and admission requirements are the three main components of the admissions process for overseas students. The section that follows delves into typical requirements for Canadian university admissions, such as academic preparations and standardized testing. It's vital to remember that only overseas students meet these qualifying requirements. Academic requirements include having taken preparatory courses in business statistics, financial theory, business finance, etc., as well as holding an undergraduate degree from an approved university or institution. Candidates for a master's degree in finance typically need to have a minimum GPA of 3.0. Transfer students, on the other hand, must have a minimum GPA of 2.0 (73–76%) on a 4.0 scale. The majority of online graduate programs don't require applicants to have a certain GPA. Foreign applicants seeking an MS in Finance in Canada must submit their results from standardized tests like the GMAT or GRE. Each university has its own set of minimal prerequisites for these exams. Non-native English speakers must prove they are proficient in the language. English Proficiency Requirements IELTS or TOEFL test results can be submitted for the same purpose by international students. It is recommended that international students who intend to take standardized examinations devote two to three months to study for the test. Results for the GMAT and GRE are typically made public within 5–20 days and 10–15 days, respectively. There are distinct application deadlines for each university. Typically, graduate institutions establish their deadlines two months before the start of the semester. It is recommended that applicants give themselves at least 4-6 weeks to write a quality CV and personal essay. It is important to give yourself plenty of time to collect letters of recommendation.
- Recommendation letters
- Purpose statement
- Article Resume
- Experience at Work
- Study Permit
- Financial Proof
Pre-arrival Fees for Canadian Finance Courses:
It is one expense incurred either before or during the application procedure.
|Expenses||Costs in USD|
|Canadian Study Permit Application Fee||150|
Masters in Finance Canada Fees
Tuition Fees of Canadian Universities which offers MS Finance in Canada varies from college to college. Given below are the average tuition fees of some Canadian Universities:
|University||Annual Tuition Fees(CAD)||Annual Tuition Fees(INR)|
|Western University||120,500||72.22 lakhs|
|University of Alberta||30,578||18.32 lakhs|
|University of Montreal||30,800 - 34,100||18.46 lakhs - 34.1 lakhs|
|Concordia University||27,294||16.35 lakhs|
|University of British Columbia||9,313||5.58 lakhs|
|University of Toronto||45,630||27.34 lakhs|
|York University||28,057||16.81 lakhs|
|Queen's University||73,300||43.93 lakhs|
|University of Waterloo||14,992||8.98 lakhs|
Cost of Living in Canada
The cost of an MS in finance in Canada ranges from 30,000 to 88,000 CAD each year. Beyond tuition for the Masters in Finance Canada, students should set aside around 20,000 CAD year for living costs. This amount is based on the typical needs of a single individual and covers housing, food, clothes, transportation in general, and other costs. Different regions in Canada have different cost of living levels. Below is a discussion of the fundamental makeup of the average cost of living in Canada for foreign students:
|Expenses||Costs (CAD)||Costs (INR)|
|Accommodation||190-570||11,377 - 34,131|
|Books & Supplies||230||13,772|
|Food (Per Meal)||8-20||479 - 1,197|
|Other Related Expenses||55-115||3,293 - 6,886|
Scholarships in Canada for Masters in Finance
Canada provides several forms of financial assistance to overseas students in the form of scholarships, grants, and bursaries as one of the most sought-after study-abroad locations. The scholarships pay for the full cost of a master's degree in finance. The prominent scholarships offered to overseas students are listed below.
- Banting Postdoctoral Fellowships:
The Canadian government provides a range of scholarships and fellowships to foreign students who intend to continue postgraduate studies and who will significantly advance the economic and social development of Canada. The amount offered in this scholarship is of $ 70000 and the time frame of this scholarship is of 2 years.
- NSERC Postgraduate Scholarships:
These awards are given to deserving overseas students studying in the natural sciences or engineering at accredited colleges and universities. The amount offered in this scholarship is of $ 17500 and the time frame of this scholarship is of 12 months.
- The Vanier Canada Graduate Scholarships
The Vanier Canada Graduate Scholarships program was established by the Canadian government to offer financial support to students seeking graduate degrees in the social sciences and humanities, the natural sciences, engineering, and/or medicine. The amount offered in this scholarship is of $ 50000 and the time frame of this scholarship is of 3 years.
|Scholarships||Eligibility||Award (in CAD)|
|International Entrance Scholarships, Humber College||International Applicants showing high academic performance||2,000|
|Vice-Chancellor Scholarship, York University||International Applicants showing high academic performance||10,000-20,000|
|Banting Postdoctoral Fellowships, Canadian Government||International graduate students demonstrating high academic performance||70,000|
|Vanier Canada Graduate Scholarships Program||International graduate students||50,000|
Areas of Study and Specialization:
There are three types of postgraduate degrees in finance: MS, MA, and MBA. The fundamentals of financial systems used by different firms, such as tax legislation, investment strategies, and financial reporting, are still taught to students in each degree. Following is a description of the typical curriculum layout for most finance programs:
- Corporate Finance:
Valuation in terms of time, debt, and equity securities is taught to students. It gives students the chance to learn more about other firms and their financial accounts.
- Business communication:
Students' written and vocal communication abilities are improved in this course on business communication. This is accomplished through the creation of reports, memos, emails, and lead meetings and presentations.
- Financial Analysis & Reporting:
The knowledge of accounting and words like assets, liabilities, financial statements, and shareholders' equity wealth are covered in this subject.
- Company Taxation:
It is essential for students pursuing an MS in Finance to have a solid understanding of the federal income tax system and the procedures for performing credits and debits for business costs.
- Investment Analysis:
By examining the securities in portfolios, students gain knowledge of their purposes and the marketplaces they operate in.
Job Prospects After MS Finance in Canada
Many doors in the financial, services and industry sectors of the economy are opened by earning a master's in finance from Canada. Graduates with a Master's in Finance typically earn 123,000 CAD annually. Students have the chance to define their academic preferences, career objectives, and personal requirements thanks to the specialized character of Masters in Finance programs at Canadian universities. The Bureau of Labor Statistics (BLS) projects that over the next 10 years, demand for personal financial advisers would rise by up to 7%. Therefore, the broad scope of finance produces a variety of employment options for overseas students, luring them to apply to the best colleges in Canada. Below are some of the highest-paying positions available to overseas students in Canada, along with employment descriptions for each position:-
|Job Profiles||Average Annual Salary (CAD)||Average Annual Salary (INR)|
|Chief Financial Officer||156,122||93.48 lakhs|
|Manager, Financial Planning & Analysis||95,648||57.27 lakhs|
|Financial Director||93, 832||56.18 lakhs|
|Financial Controller||91,714||54.92 lakhs|
|Senior Business Analyst||85,620||51.26 lakhs|
|Senior Financial Analyst||84,577||50.64 lakhs|
|Associate Portfolio Manager||81,156||48.59 lakhs|
|Financial Analyst||68,558||41.09 lakhs|
|Risk Analyst||65,257||39.07 lakhs|
A master's degree in finance from one of Canada's top colleges can open doors to amazing possibilities abroad. Additionally, the MS in finance will undoubtedly assist you in creating a promising future in Canada due to the increase in demand for financial graduates in that country. Because of the high quality of education offered by Canadian educational institutions and its highly regarded programmes in every field of study, Canada is a popular study abroad destination. Whether you're thinking about undergraduate or graduate studies, a degree in finance, economics, or accounting from a Canadian college will help you be prepared for your future profession and set you firmly on the road to success.
Frequently Asked Questions (FAQs)
Is GMAT required for a master’s in Finance in Canada?
Most institutions require GMAT for MS in Finance in Canada, although some take GRE scores as well. However, there is the New York Institute of Technology, which offers a master’s in finance in Canada without GMAT scores for its MBA in Finance. However, GMAT scores are always recommended.
How long is a Master of Finance Degree in Canada?
The duration of a Master of Finance Degree in Canada is around 1-2 years.
Which university is best for MBA in Finance in Canada?
Some of the top universities that offer an MBA in Finance in Canada are:
- University of Toronto
- University of British Columbia
- McGill University
- University of Alberta