MBA in Finance has been one of the most lucrative fields for not only business aspirants but also GenZ MBA aspirants, for the specialisation of Finance is pretty well-known for the latter group. Owing to such high demand, MBA schools around the world offer specialization in Finance. Some of these top colleges are situated in Canada. The country offers the same quality of education as the UK and the US at much affordable cost. Among the 4 schools for MBA in Finance in Canada, 3 of them have global rankings to their name.
This Blog Includes:
- Why Should You Study MBA in Canada?
- Is It Difficult to Get an MBA Degree in Finance in Canada?
- Top Universities for MBA In Finance In Canada
- Top Universities for MBA in Finance in Canada: Tuition Fees & Eligibility
- How Much Does An MBA in Finance Cost In Canada?
- MBA in Finance in Canada Syllabus
- Scholarships For MBA In Finance In Canada
- Masters vs MBA in Finance in Canada
Why Should You Study MBA in Canada?
Students at Canadian universities have the opportunity to network with a variety of accomplished people in the business world.
- According to US News and World Report, Canada ranked 8th in the world for Entrepreneurship in 2022.
- International students have a high quality of life in Canada because of the ideal environment. There are endless on-campus and off-campus employment opportunities for international students in Canada.
- The Canadian job market is expanding at an unprecedented rate increasing the need for MBA graduates.
- Visas for international students are easy to obtain in Canada. There is far less paperwork than any other country, and they also offer post study work permits.
- MBA in Canada is believed to be the best long-term investment. The median salary of an MBA professional in Canada is CAD 93,000 (INR 57 lakh) each year.
Also Read: MBA Courses in Canada
Is It Difficult to Get an MBA Degree in Finance in Canada?
MBA in Finance is just as challenging as any other MBA program in Canada. Students must have a minimum of 50% aggregate or equivalent CGPA in a bachelor’s degree from a recognized university. The course requires mathematical & statistics skills. It is more competitive than other MBA courses because of its high demand.
Top Universities for MBA In Finance In Canada
According to the QS MBA Ranking Canada 2023 , Rotman School of Management, Smith School of Business, Alberta University are in the top 10 business schools in Canada. Schools offer admission to the general MBA program. But students can pick finance as a speciality in their second year of study. International applicants interested in pursuing an MBA in Finance in Canada should bear the following in mind:
- The specialty is only offered by a few schools.
- These institutions have competitive admission criteria that include an academic record and documents such as LORs, essays, resumes, and so on
- Best time to apply for the courses is during the Fall semester
- Most classes are held online or in a hybrid style due to the Covid-19 pandemic
Also Read: Eligibility for MBA in Canada
MBA in Finance at Rotman School of Management, University of Toronto
According to the QS MBA ranking 2023, Rotman School of Management is ranked first among the top business schools in Canada. It provides a two-year MBA program in Canada, with one of the concentrations as Financial Reporting and Analysis. Students at Rotman come from North America, Asia, Europe, Africa, and the Middle East.
Rotman School of Management MBA Admissions Requirements:
- Bachelor’s degree from any field
- 2 LORs, preferably from the workplace supervisor
- 2 written essays (1000 words each)
- One pre-recorded video that is no more than ten minutes long
- Interviews can be conducted in person, over the phone, or by video conferencing
Also Read: 1 Year MBA in Canada
MBA in Finance at Smith School of Business, Queen’s University
Finance is one of the specializations offered by Smith’s School of Business in its full-time MBA program. Students who choose specialization receive a diploma in their chosen field of specialty as well as an MBA from a Canadian university.
Admission requirements for Queen’s University MBA:
- 4-year bachelor’s degree
- Cover letter
- 2 professional LORs for MBA in Finance
- 2 video questions and one written response
The University of Alberta at MBA in Finance
The University of Alberta provides a two-year full-time MBA in finance as a concentration. In their second year of study, students can choose a specialty. Courses in general management are included in the first-year curriculum.
Admission requirements for University of Alberta MBA:
- A four-year bachelor’s degree in any field (3-year also accepted with an applicant has a strong profile)
- 2 professional LORs
- 1 to 2-page SOP for MBA in Finance
- 2 rounds of interviews:
- 1st round: Submit a pre-recorded video with answers to 4 questions
- 2nd round: Skype-based one-on-one interview with the admissions committee
MBA in Finance at Laval University
Laval University offers a four-semester MBA in Finance program that focuses on creativity and innovation. Its MBA in Finance program teaches corporate finance, financial analysis, portfolio management, market finance, and risk management to students.
Admission requirements for Laval University MBA:
- A bachelor’s degree in administration, science, engineering, or a related discipline is required.
- MBA essay of about 2 pages
Also Read: MBA in Canada Without GMAT
Top Universities for MBA in Finance in Canada: Tuition Fees & Eligibility
The tuition fees is tabulated below.
|University||Application fees||Tuition Fees||GMAT Requirement|
|Rotman School of Management||195 CAD(12k INR)||115,986 CAD
|Smith School of Business||None||93,000 CAD
(INR 57 lakh)
|University of Alberta||100 CAD
(INR 26 lakh)
|Minimum: 550 (50th percentile
of GRE also accepted)
|Laval University||89 CAD
(INR 18.7 lakh)
The basic eligibility criteria is mentioned below.
|University||%Required in Bachelors||Work EX Required||English Requirement|
|Rotman School of Management||Minimum: 83%
|Minimum: 2 years
Average: 6 years
TOEFL (iBT): 100
|Smith School of Business||Minimum: 75%||Required: 2 years
Average: 4.4 years
TOEFL: 96 (iBT)
|University of Alberta||Minimum: 83%
|Minimum: 2 years
Average: 5 years
TOEFL (iBT): 100
|Laval University||Minimum: 85%||Not specified||IELTS: 6.5
How Much Does An MBA in Finance Cost In Canada?
Every year, thousands of international students move to Canada to pursue MBA degrees, making it one of the most popular study locations in the world. However, in order to pursue that, students must keep in handy certain funds that you need pre and post-admission.
|Application Fee||60-190 (3,690-11k INR)|
|GMAT||325 (20k INR)|
|GRE||332 (20k INR)|
|Canadian Study permit/Visa||150 (9225 INR)|
|Flight tickets||400-1400 (24k – 86k INR)|
|Health insurance||600-900 (37k – 55k INR)|
|IELTS||280-325 (17k -20k INR)|
|TOEFL||241 (14.8k INR)|
Also Read: Low Cost MBA in Canada
MBA in Finance in Canada Syllabus
Mentioned below is the syllabus for MBA in finance in Canada :
|Semester I||Semester II|
|Micro Economics||Financial Modeling|
|Corporate Social Responsibility||Supply Chain Management|
|Principles of Accounting||Business Intelligence|
|Principles of Marketing Management||Strategic Management|
|Tools and Frameworks for Decision Making||Managerial Economics|
|Quantitative Methods and Statistics||Marketing Research|
|Business Communication And Soft skills||Corporate Governance and Business Ethics|
|Organizational Behaviour-1||Corporate Finance-2|
|Semester III||Semester IV|
|Macro Economics||Internship Projects|
|Business Law||Project Submissions|
|Operations Management||Organization Behaviour-2|
|Corporate Management||Marketing Management|
|Optimization and Project Research||Project Management|
Scholarships For MBA In Finance In Canada
In Canada, a variety of scholarships are available to assist international students on a variety of levels. Mentioned below are some of the scholarship opportunities:
|Scholarship||Offered by||Amount (in CAD)|
|Women in Business Excellence Award||University of Toronto||13,000 (INR 8 lakh)|
|MBA Excellence Award||University of Toronto||26,000 (INR 16 lakh)|
|Entrance Awards||Queen’s University||Up to 15,000 (INR 9.2 lakh)|
|AIMCo Scholarship||University of Alberta||10,000 (INR 6 lakh)|
|Success Scholarship||Laval University||1,000 (61 thousand INR)|
Masters vs MBA in Finance in Canada
Accounting, finance, market research, entrepreneurship, and management are all included in the MBA in Finance curriculum. MS or Masters in Finance in Canada, on the other hand, concentrates solely on academic aspects of finance and accounting. The decision between the two is mostly based on the future job route you wish to pursue.
- An MBA in Finance requires an additional business-oriented curriculum. Financial theory, mathematics, quantitative finance, investments, financial analysis, and reporting are all included in the MS in Finance program.
- Admission to an MBA in Finance is tougher, requiring an above-average GMAT score and a minimum of two years of work experience, although some universities offering MS in Finance in Canada require a GRE score.
- Students with bachelor’s degrees in any discipline are eligible to apply for the MBA in Finance program. To apply for the MS in Finance, applicants must have a good background in finance.
- MS in Finance graduates are specifically trained for employment involving trading, investments, and risk management. MBA Finance graduates can work in a variety of sectors.
- MBA in Finance graduates in Canada can earn up to 90,000 CAD (INR 55 lakh) per year. MS Finance graduates in Canada earn a yearly salary of 79,500 CAD (INR 48 lakh).
- MBA in Finance in Canada offers students excellent possibilities and competitive incomes. This country has been known for its prominent colleges and business institutions, which have provided superior education to its students throughout the years. A master’s degree in finance from Canada is another option for students interested in the finance profession.
Also Read: PhD in Finance in Canada
Senior Financial Analyst
Senior Financial Analyst
Brand Finance Analyst
Customer Finance Analyst
The average salary of an MBA professional in Canada is $79,076 (58,23,749 INR) each year. It can range from $34,170 per year (25,16,535 INR) (at the entry-level) to $120,793 (8,896,102 INR) per year.
University of Toronto
University of Alberta
The average cost of studying MBA in Canada is 20,000 to 55,000 CAD per annum (INR 11,86,536- INR 32,62,975)
The applicant must have completed their bachelor’s degree from a recognized academic institution with the minimum marks required by the chosen university.
An average work experience of about 2-3 years (might not be required by some universities)
A valid GMAT or GRE score is also required along with English language proficiency scores such as IELTS/TOEFL, etc.
Statement of Purpose (SOP)
Letters of Recommendation (LORs)
Yes, MBA in Finance in Canada can be competitive and difficult to get into. It requires intensive training, internships and seminars that prepare candidates for a successful career in finance.
Are you planning to study MBA in Finance in Canada? Connect with us at Leverage Edu and book your FREE counselling session with us. We will help you throughout your study abroad process, from choosing the best university to a smooth visa process. Call at at 1800 57 2000 for a free 30-minute counselling session!