Masters in Finance in Canada: Your All Essential Details in One Place!

Over 67k Indian students have already received their student visas in the first 4 months of 2021 to study in Canada, and an MS in finance in Canada is one of the most sought-after programs among others. The admission is higher than 83% in 2020. 

Why Study Finance In Canada?

The answer is pretty simple! Canada is one of the popular multicultural countries wherein people from various cultures exist simultaneously resulting in a diverse, yet rich environment. It is one of the things that makes Canada an ideal place to study for a  Masters in Finance and makes communicate vivaciously with each other. 

Masters in Finance in Canada is an ideal choice for numerous international students because Universities in Canada hold ranks in the QS Research, THE, etc. Canada is a popular country for its stable education system. It welcomes students from different backgrounds to its maple culture and has a limited crime rate. Bespoke education, outstanding training, and excellent research exposure made Canada a haven for higher studies. 

Why Study An MS/Master in Finance in Canada?

Numerous international students choose to study a master's in Finance in Canada and their majors are Finance, Economics, Statistics, Applied Economics, Business Economics, Business Management, or Econometrics. Here are the three reasons why the craze to study MS in finance in Canada is growing by leaps and bounds. 

3 among the top 100 world famous Universities in Canada is placed in the top 10 positions in the QS World University Rankings, These are - 

• The University of Toronto ranks 26
• The University of British Columbia ranks 46
• McGill University ranks 27

Students can opt for multiple specializations, including applied economics, financial planning, business finance, corporate finance, and insurance management when they study MS in Finance in Canada. 

A master’s in finance can get into lucrative careers, such as investment banking, financial analysis, corporate finance management, financial management, taxation, etc., and the average salary can be around CAD 123,000 per annum. 

Top Universities in Canada for Masters in Finance

As of 2023, Canada has over 100 top academic institutes and mostly the world’s top universities. Currently, Canada has 223 top-rated public and private institutes, and 213 public institutes or colleges known for academic excellence. These institutions offer education in French and English. Most French-taught institutes are located in Quebec. Additionally, there are 8k colleges and 16k university programs. 

Top Universities in Canada Best For MS in Finance Program

Masters in Finance in Canada Specializations

Specializations for MS in finance are diverse. You can opt for the following specializations according to your career goals. 

• Financial analytics 
• Management in financial strategies 
• Financial strategic management 
• Financial planning 
• Financial risk management 
• Financial planning services

Admission Requirements

Masters in Finance in Canada requirements for admission are listed here. Although meeting the minimum admission requirements doesn’t guarantee admission into MS in Finance, as space in each program is limited, so early application is desirable. Normally, admission is college-specific, so you must visit the University website to clarify the admission process for the Masters in Finance in Canada. 

• An UG degree from a recognized post-secondary institution
• Minimum B+ average in the last 2 full years
• A 3-year bachelor’s degree may also be considered
• GMAT or GRE required
• English proficiency test (IELTS/TOEFL) required
• 3-year work experience is required, but it is optional
• Statement of Purpose
• Letter of Recommendations 

Application Deadlines 

The application deadlines differ from University to University. You must visit the University website to see the application deadline for the course. Here are they - 

• University of Toronto - 10th of January
• McGill University - 15th of November to 15th January 
• UBC - 31st of December
• University of Alberta - 1st November to 1st May

Eligibility Criteria for MS in Finance in Canada

You must have the following things while applying for the MS in Finance in Canada:

• An UG degree from an accredited institute with a major in Financial Management, Financial Theory, Economics and Statistics, Business Statistics, Business Finance, or equivalent. 
• A minimum of 3.0 GPA
• A minimum of 7.0 IELTS score 
• A minimum of 100 TOEFL - iBT score with at least 22 in writing, and speaking

Cost of Studying Master in Finance in Canada

International students can expect around CAD 74,500 for their Masters in Finance program in Canada. The tuition fees vary across Universities. It is advisable to visit the University website to get the actual tuition fees for the program. 

Cost of Living in Canada

The cost of living in Canada is higher than in India, and other developing nations. Furthermore, it is an affordable destination for international students than the United States of America, Australia, or the UK. 

• A family of 4 estimated monthly costs in Canada is CAD 3,498 without home rent.
• A single person (mainly a job seeker/student) estimated monthly cost is CAD 973 without home rent.

Normally, the cost of living in Canada is, on average, 0.8% less than in Ireland. The rent in Canada is, on average, 21.9% less than in Ireland.

Affordable Colleges for MS in Finance in Canada

We’ve decided to look at the affordable colleges/universities in Canada to study for a Master's in Finance program, meaning a degree that costs less than CAD 3000. Here are they - 

Scholarships for Masters in Finance in Canada

Masters in Finance in Canada Job Opportunities

An MS in Finance in Canada offers numerous job opportunities with high-demand positions/designations, such as - financial analyst, portfolio manager, investment banker, and risk manager, to name some. Graduates in finance from top Canadian Business schools can work in top banks, investment companies, insurance organizations, and large corporations.

Here are the job roles and average salary - 

Return on investment

Graduates in Finance in Canada can get excellent job opportunities in numerous sectors. Graduates can expect an annual average salary of CAD 60000 for the junior level/fresher position. The salary can go up to CAD 155000 per year for the senior level/experience position. You invest CAD 74,500 for the Masters in Finance program in Canada and can expect your ROI in 1 year. 

Endnote

Canada is an emerging country with unlimited potential and great career growth for international students. It has a smooth immigration process, and the eligibility criteria for MS in Finance in Canada are flexible for international students and comparatively easier to get into. The Canadian Passport and PR has resulted in a vast majority of international students from around the world choosing the MS in Finance program in various business schools of repute. 

We’ve covered almost all important info in this blog about MS in Finance in Canada, if you have more questions in mind, particularly for the admission process in Canadian business schools, you can talk to our experts now! 

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