Offering more than 7% to the national GDP as well as recruiting over 800,000 people, Finance is a crucial part of Canada's economy. Toronto places among the top 10 financial centres in the world, and it houses the Toronto Stock Exchange (TSX), which is the ninth largest globally by market capitalization. Renowned for its steadiness and rigorous regulatory system, the banking system in Canada is frequently ranked as one of the most reliable in the world.
Aimed at offering specialized knowledge in quantitative methods, financial theory, and investment analysis, an MS in Finance in Canada typically spans 1-2 years. It equips graduates for jobs in asset management, corporate finance, or financial services.
Why Study Masters in Finance Canada?
Students should think about pursuing MS in Finance courses in Canada for the following reasons:
- Internationally Acknowledged: Finance degrees in Canada are well-regarded globally, thereby, improving employment opportunities worldwide.
- Excellent ROI: Budget-friendly tuition with lucrative pay following graduation ensure high return on investment.
- Robust Financial Industry: Canada houses key international banks and financial centres, providing outstanding industry experience.
- Post-Graduation Work Permit (PGWP): Following graduation, students have the chance to work in Canada for a maximum of 3 years.
- Route to Permanent Residency: Via programs such as Express Entry, studying in Canada can result in PR.
Best Universities for MS in Finance in Canada
Listed below are the top universities for MS in Finance in Canada:
- University of Toronto (Rotman School of Management)
- University of British Columbia (Sauder School of Business)
- McGill University (Desautels Faculty of Management)
- Queen’s University (Smith School of Business)
- University of Alberta (Alberta School of Business)
- York University (Schulich School of Business)
- Western University (Ivey Business School)
- Concordia University (John Molson School of Business)
- HEC Montréal
- University of Waterloo
Top MS in Finance Programs in Canada
The leading MS in Finance courses in Canada are mentioned below:
- MSc in Finance– Western University (Ivey Business School)
- Master of Finance– York University (Schulich School of Business)
- Master of Quantitative Finance– University of Waterloo (School of Accounting and Finance)
- Master of Business Administration– Finance Specialization – University of British Columbia (Sauder School of Business)
- Master of Management in Finance– McGill University (Desautels Faculty of Management)
- MBA– Finance Specialization– Dalhousie University (Rowe School of Business)
- MSc in Finance– Concordia University (John Molson School of Business)
- Master of Financial Risk Management– University of Toronto (Rotman School of Management)
- MSc in Finance– University of Alberta (Alberta School of Business)
- Master of Finance– Queen’s University (Smith School of Business)
Cost of Studying MS in Finance in Canada
Based on the university and credibility of the program, the cost of pursuing a Masters in Finance Canada usually ranges from CAD 20,000-CAD 60,000 annually in tuition fees. For instance, higher tuition fees may be charged at prominent institutions such as McGill University or the University of Toronto. Comparatively lower fees, particularly for domestic students may be charged at public universities.
Besides tuition, overseas students should set aside approximately CAD 10,000-CAD 15,000 annually for living expenses, which entails food, housing, transit, and health insurance. Supplementary fees for resources, student services, or co-op terms are also entailed in certain programs. Based on the applicant’s educational profile and the institution, scholarships and assistantships may be available that assist in alleviating expenses.
Scholarships for Masters in Finance in Canada
The various scholarships offered for MS in Finance in Canada are as under:
- Ontario Graduate Scholarship (OGS)
- McGill University – Desautels Faculty of Management Scholarships
- Canada Graduate Scholarships – Master’s Program (CGS M)
- University of British Columbia (UBC) Sauder School of Business Scholarships
- Laval University Graduate Scholarships
- Concordia University – John Molson School of Business Scholarships
- University of Toronto – Rotman School of Management Scholarships
- Fonds de recherche du Québec – Société et culture (FRQSC)
- HEC Montréal Scholarships
- Vanier Canada Graduate Scholarships
- University of Alberta Scholarships
- Western University – Ivey Business School Scholarships
- Queen’s University – Smith School of Business Scholarships
- Mitacs Globalink Graduate Fellowship
- York University – Schulich School of Business Entrance Scholarships
Eligibility for MS in Finance in Canada
The typical admission requirements for Finance Masters Canada are:
- The student needs to hold a completed Bachelor’s degree, ideally in finance, business, economics, or associated fields.
- He/she needs to submit official academic transcripts from all post-secondary institutions previously attended.
- The student should have secured a minimum GPA of 3.0 on a 4.0 scale (differs depending on the university).
- Although certain programs may exempt this, GMAT (often 600+) or GRE scores are required by a number of programs.
- Non-native English speakers need to prove their fluency in English by appearing for English language proficiency tests like the IELTS (6.5-7.0+) or TOEFL (usually 90-100+).
- 1-3 years of pertinent professional experience may be favored or needed by certain programs.
- The student needs to submit a statement of purpose outlining clear motivation and professional objectives pertaining to finance.
- Submission of 2-3 letters of recommendation from instructors or employers.
- He/she needs to submit a resume or CV detailing educational and work experience.
- Foundational courses or evidence of quantitative competence may be demanded by certain schools.
- Certain competitive programs may require an interview.
Jobs After MS in Finance in Canada
Post completing a Masters in Finance Canada, students can opt for any of the jobs mentioned below:
- Business Analyst (Finance)
- Risk Manager
- Quantitative Analyst (Quant)
- Financial Consultant
- Financial Controller Assistant
- Credit Analyst
- Banking Relationship Manager
- Financial Planner/Advisor
- Mergers & Acquisitions Analyst
- Portfolio Manager
- Insurance Underwriter (Finance related)
- Financial Analyst
- Corporate Finance Analyst
- Data Analyst (Finance Focus)
- Equity Research Analyst
- Budget Analyst
- Treasury Analyst
- Accounting Manager (with Finance background)
- Investment Analyst
- Compliance Analyst
Can students pursue an MS in Finance without any prior work experience?
Yes, although certain programs may favor or require it, students can study an MS in Finance without work experience.
How to apply for MS in Finance in Canada?
The application process for MS in Finance Canada generally entails submitting an online application along with academic transcripts, GRE/GMAT test scores, evidence of English language competence, a statement of purpose, recommendation letters, and paying the application fee.
Can international students work while pursuing an MS in Finance in Canada?
Yes, while studying a Masters in Finance Canada, overseas students are permitted to work part-time for a maximum of 20 hours per week during the academic term and full-time during designated breaks, as long as they fulfill the requirements of their study permit.
Do MS in Finance courses in Canada entail internships?
Yes, internships or Co-Op opportunities are offered by a number of Masters in Finance Canada programs, nevertheless they are not always compulsory and differ depending on the university.
For further assistance or queries students can contact us, Edwise International, and avail our wide range of services for students on destinations like Universities in Canada, study in Canada, study in UK, study in USA, study in Ireland, study in Australia, study in New-Zealand, study in Singapore, study in Germany, study in France and many other countries.
