Top 10 Universities for Masters in Finance Canada

Studying Masters in Finance in Canada can prove to be extremely beneficial for international students as it can open up the doors to good job opportunities in Canada and outside. Good academic performance, cost of living, and good scores in language proficiency exams are the key eligibility to pursue this course in Canada.

Considering Canada for a Master's in Finance? You're not alone!  Every year many students submit admission applications to the top universities in Canada to pursue a master's in Finance. With its strong financial institutions and reputable universities, Canada offers a compelling option for pursuing this advanced degree. The average salary in Canada for finance graduates is CAD 65,292 per year. 

Canada offers a wide range of Masters in Finance programmes across its top-ranked Universities. Various concentrations such as corporate finance, investment management, financial analysis, etc. provide an opportunity to work in diverse fields. In this article, we are going to cover a list of top universities in Canada for Masters in Finance courses, its benefits, total cost and other related information.

Top Reasons to Choose Canada for Masters in Finance

Let us look at some reasons to pursue Masters in Finance in Canada:

• Quality Academics: Universities in Canada have high academic standards and their degrees are recognized globally.
• Job Opportunities: The finance sector in Canada is strong and stable, and provides lucrative job opportunities to students. After studying Masters in Finance in Canada, students can apply for a post-graduate work permit (PGWP Canada) in order to stay back and work there.
• Multicultural Environment: Canada is renowned for its cosmopolitan society, and studying there can expose you to many viewpoints and broaden your perspective of the world. The worldwide nature of the finance sector makes this exposure potentially useful.

Let us move on to the finer details of MSc Finance in Canada, including Masters in Finance Canada universities, eligibility, requirements, cost, etc.

Best Universities for Masters in Finance Canada

The table given below provides the top Masters in Finance Canada universities. QS World University Rankings 2024 (overall ranks) and QS World University Rankings by Subject 2023 (Accounting & Finance) are provided in the table as well.

Note: Tuition fees mentioned in the table above have been sourced from official websites. However, these are subject to change as per university norms. It is advised that students check the official websites of the universities as well.

Masters in Finance Canada Eligibility

In order to pursue a Master’s degree in Finance in Canada, students need to fulfil certain eligibility criteria. Here are the basic eligibility details:

• An Undergraduate Degree: In order to pursue a Masters in Finance in Canada, students need to have an undergraduate degree from a recognised university. Certain Masters in Finance Canada universities may ask for a minimum GPA (usually 3.0).
• Standard Test Scores: Students might be required to submit test scores of GMAT or GRE. These vary as per the university requirements.
• English Language Requirements: Students, who do not belong to English-speaking countries, need to provide proof of English language proficiency through IELTS, TOEFL, PTE, etc.

• Statement of Purpose: A statement of purpose is a document that provides the details of your academic background, reasons to pursue a particular course, reasons to choose a particular university, etc. It is one of the most critical components of your application for the Masters in Finance degree.
• Letters of Recommendation: 2-3 reference letters must be provided by your professors and/or employers. These too are extremely important.
• Admission Essays: These essays are university-specific and answer specific questions asked by the university.
• Resume: An updated resume forms a vital part of your application. It is a factual overview of your academic and professional achievements.

Masters in Finance Canada Cost

The cost of studying Masters in Finance in Canada can range from CAD 10,000 to CAD 42,000 depending on the university. In addition to the tuition fee, students will also have to bear the cost of living in Canada, which can average around CAD 19,000 per annum. Cost of living can be significant, as it will include your rent, food, transport, clothing, etc. Students may apply for scholarships and/or work part-time to offset the cost of studying in Canada.

It is important for students to do their own research before making a final decision. For help with university applications, students seeking to study abroad can contact our Shiksha Study Abroad Counsellors. The comments section below allows candidates to contact us as well.