With multicultural cosmopolitans and top-ranked universities and colleges in the world, Canada is one of the choicest destinations amongst international students. Named amongst the countries with best education system, Canadian universities offer a variety of undergraduate as well as postgraduate courses across different fields of study. Master of Finance is one of the most frequently chosen master’s programs at the universities in Canada. This blog brings you a comprehensive guide on Masters in Finance in Canada including top universities, admission criteria, career scope and more!
This Blog Includes:
- Why Pursue a Masters in Finance in Canada?
- Popular Specializations and Degree
- Top Universities for Masters in Finance in Canada
- Masters in Finance in Canada Eligibility Criteria
- Documents Required
- Cost of Studying Masters in Canada
- Cost of Living in Canada
- Career Scope After Masters in Finance in Canada
- Masters in Finance in Canada Salary
Why Pursue a Masters in Finance in Canada?
Seeking a master’s degree abroad involves various intricacies as compared to the bachelor’s one. It becomes necessary to evaluate a plethora of factors such as course structure, faculty, university rankings, research centres along with employability rate while shortlisting a suitable university.
When it comes to pursuing a postgraduate degree in Canada, you can tick all the above-mentioned factors in your checklist as the country is globally renowned for academic excellence. A variety of top-ranked Canadian institutions offer Masters in Finance spanning across the duration of 1.5 years. The research-centric approach of leading universities in Canada aims to impart students with the quintessential knowledge of the financial and business world along with providing them with the best industrial and research exposure to choose from global opportunities in this field!
Further, is often considered to be the safest place for international students because of the low crime rate, the minimal cost of living, easy immigration policies, student-friendly surroundings, etc.
MUST READ: Study in Canada
Popular Specializations and Degree
The following are the popular specializations and degree in the field of finance:
- Financial Analytics
- Management in Financial Strategies
- Financial Strategic Management
- Financial Planning
- Financial Risk Management
- Financial Planning Services
Top Universities for Masters in Finance in Canada
A wide range of reputed institutions in the country offers postgraduate courses in Finance. The acceptance rate for Indian students at Canadian universities is generally high as there are minimal entry requisites that you need to accomplish. Before you start with the application process, make sure you go through the course structure as well as the research facilities of the chosen course. Mentioned below are the top universities offering Master in Finance in Canada:
|Institution||B- School||Courses Offered||Duration|
|University of Toronto||Joseph L. Rotman School of Management||Master of Finance||20 Months|
|University of British Columbia||Sauder School of Business||MSC Business
Administration in Finance
|Western University||Richard Ivey School of Business||Master of Financial Economics||16 Months|
|Simon Fraser University||Beedie School of Business||MSc Finance||16 Months|
|University of Manitoba||Asper School of Business||Master of Finance||12 Months|
|University of Alberta||School of Business||Master of Arts in Economics and Finance||24 Months|
|University of Calgary||Haskayne School of Business||Mathematical Finance MSc||12- 24 Months|
|Wilfrid Laurier University||Lazaridis School of Business and Economics||Master Of Finance||20 Months|
|McGill University||Desautels Faculty of Management||Master of Management in Finance||–|
Masters in Finance in Canada Eligibility Criteria
If you are looking forward to studying a Masters in Finance in Canada, you must know about the admission requirements you need to fulfil. Though the actual course requirements might vary as per the program and university, here are some general eligibility prerequisites for master’s programs in Finance in Canada:
- Usual formal schooling of 10 + 2 from a recognised institution
- Bachelor’s degree in a related field with minimum marks required by the university
- English proficiency exam scores like IELTS, TOEFL, etc
- Candidates must obtain a minimum score in GMAT or GRE exam as specified by the university
- LORs and SOP
- Some universities may demand a relevant work experience in the industry; however, it is not compulsory.
The following are the documents required to pursue finance in Canada:
- Academic Transcripts
- Proof of English Proficiency
- Copy of passport
- Statement of purpose
- Work Experience (if applicable)
- Proof of Financial Stability
- Reference letter
- Letters of recommendations
Cost of Studying Masters in Canada
The average cost of studying a masters degree in Canada is 2,150 CAD – 52,700 CAD or INR 1.32-32.45 Lakh per annum.
Cost of Living in Canada
The average cost of living in Canada is 20,000 CAD – 30,000 CAD or INR 12.31 – 18.47 Lakh. However, this cost may vary depending on the city of your stay. The following are the costs of basic amenities in Canada.
|Categories Cost in INR|
|Accommodation 400 CAD – 600 CAD 24,106 – 35,159|
|Transportation 100 CAD – 250 CAD 6026 – 15,066|
|Food 200 CAD – 300 CAD 12,053 – 18,079|
|Internet 30 CAD – 50 CAD 1,808 – 3,013|
|Miscellaneous 600 CAD – 700 CAD 36,159 – 42,186|
Must Read: Cost of Living in Canada
Career Scope After Masters in Finance in Canada
Obtaining a global degree in Finance can help you explore promising opportunities in this arena. The universities in Canada are globally renowned for their on-campus placement records. The institutions organise job fairs for its students wherein you can connect with elite organizations and find higher-level opportunities to build a fulfilling career in Finance. Being a graduate in Finance, you can majorly target the financial industry and sector. Jobs related to your expertise will be available in the public and private sector as every organization needs finance professionals and advisor. Apart from this, you can also pursue a PhD in Finance. Here are some job profiles which you can choose from after pursuing Masters in Finance in Canada:
- Budget Analyst
- Financial Analyst
- Risk Manager
- Market Research Analyst
- Insurance Specialist
- Portfolio Manager
- Financial Advisor
Masters in Finance in Canada Salary
Jobs for Finance have always been in high demand because of the high earning, job stability and recognition it offers. A Masters in Finance in Canada can open an array of opportunities with great salary package. The average salary of a graduate with Masters in Finance in Canada is CAD 65,757 (INR 39,86,316) per annum.
The duration of a Master of Finance Degree in Canada is around 1-2 years.
A minimum of 6.5 overall in IELTS is required to pursue a Master of Finance from the University of Manitoba.
You must have obtained a bachelor degree in any discipline, GMAT/GRE scores and English Proficiency Test Scores to pursue a Master of Management in Finance Degree from McGill University.
Hopefully, this blog provided you with the essentials of pursuing Masters in Finance in Canada. Aiming to study in Canada? Reach out to Leverage Edu experts and we will guide you in shortlisting the best course and university in Canada and helping you throughout the admission process to get you successfully shortlisted! Sign up for a free counselling session with us today!