Are you dreaming of a finance career? An MBA in Finance in Canada could be your perfect next step! This program gives you the sought-after skills. They will help you to dominate Canada’s booming finance sector. Also, a Canadian MBA is a degree recognized worldwide. It opens doors to exciting opportunities.
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Canada boasts a strong and progressive financial industry, combined with top-tier business schools that will prepare you with the skills and knowledge to succeed.
In this blog, we’ll discuss everything from the Types of MBA programs in finance to MBA salaries in Canada and much more, so without wasting your time, let’s scroll down a little!
Types of MBA programs in finance
| Full-time MBA | 1-2 years of the Program offers a complete understanding of business fundamentals. |
| Part-Time MBA | 3-6 years, allowing students to complete their degree while working Part-time. |
| Executive MBA | 13 months of the Program focuses on leadership. |
| International MBA | 20-28 months of the program, which provides skills and knowledge to the students for global business insights. |
| Online MBA | It can be completed entirely online. |
Top 5 Universities for MBA in Finance in Canada
MBA in Canada is the most advantageous and demanding course for MBA students, and it lasts for 1-2 years. There are several top-notch colleges and universities to study MBA in finance in Canada that offer an effective education and guidance to the students.MBA in finance includes finance-related subjects like corporate finance, financial analysis, business taxation, etc. Also, check out the best universities in Canada for Indian students.
| Top Universities | QS World Ranking |
| Rotman School of Management – University of Toronto | 01 |
| Desautels Faculty of Management – McGill University | 02 |
| Ivey Business School – Western University in Canada. | 03 |
| UBC Sauder School of Business – British Columbia | 04 |
| Smith School of Business – Queens University | 05 |
1) Rotman School of Management – University of Toronto
As per the QS MBA Ranking 2024, Rotman School of Management ranks at 1st and is considered one of Canada’s top business schools for an MBA in finance. It offers a two-year MBA program.
Rotman offers a specialization in Financial Reporting and Analysis. Many International Students come here from Asia, the Middle East, North America, Africa, and Europe, which is why the University of Toronto is ranked among the best MBA colleges in Canada.
Admission Requirement in Rotman School of Management
- Bachelor’s degree in any field.
- 2 LORs In preference of any supervisor from the workplace itself.
- Two written essays consist of thousands of words.
- Interview Process.
- At least 10 minutes of Pre-recorded video.
- Several other options are available for conducting the interview, such as in person, via video conference, or over the phone.
Other Details of Rotman School of Management
| Official Site | https://www.rotman.utoronto.ca |
| Address | 105 St. George St, Toronto, Canada. |
| Course Duration | 2 years |
| Course Fee | CAD 93,020 |
| Exams Required | IELTS(7.0), TOEFL(100iBT) GMAT(670) |
| International Students | 71% |
| Scholarship Offered | The Joseph L. Rotman Scholarship |
| Application Deadline | Early round: October 4, 2023 Round 1: November 15, 2023 Round 2: February 7, 2024 Round 3: April 10, 2024 Round 4: June 12, 2024 |
2) Desautels Faculty of Management – McGill University
Enrolling for an MBA in finance in Canada offers a Superb business education to its students. As per QS Global MBA Ranking, It Ranks at 2nd position.The acceptance rate of McGill University is between 46-56%, whereas international students require a 3.0 GPA.
To study an MBA in finance in Canada, Desautels Faculty of Management is highly recommended for International students who are looking into MBA in Finance programs, which is why McGill University is considered as one of the best universities in Canada to study MBA in Finance Program.
Admission Requirements at Desautels Faculty of Management
- Bachelor’s degree with minimum CGPA of 3.2 on a Scale of 4.0
- The average GMAT Score for the students who got admission is 675.
- 2 professional LORs (one academic and another one is professional)
- SOP – Statement of Purpose
- MBA essay question.
- Interview
- IELTS/ TOEFL Scores (if any)
Other details related to Desautels Faculty of Management
| Official Site | https://www.mcgill.ca/desautels/ |
| Address | Montreal, Quebec |
| Course Duration | 1-2 years of Full time |
| Course Fee | 99500 CAD |
| Exams required | IELTS(7.0), TOEFL(100), GMAT(675) |
| International Students | 12052 |
| Application Deadline | January 15,2024 March 15, 2024 |
| Scholarship Offered | Sheila Wellington BMO Financial Group Award |
3) Ivey Business School – Western University in Canada.
Ivey Business School offers a finance course in MBA, which provides an analytical framework .
For admission, students need to submit their GMAT or GRE scores. The major goal is to gain an appreciation for financial issues faced by all companies.
On the other hand, there is a possibility of a GMAT waiver if students have received more than 160 scores in LSAT plus those who have passed three levels of the Chartered Financial Analyst exam.
What you’ll learn in MBA finance course?
Assessment of financial performance, Introduction to Financial Markets and Capital raising, Determination of optimal capital structure.
Admission Requirements at Ivey Business School – Western University
- Bachelor’s degree with minimum CGPA of 3.2 on a Scale of 4.0
- The average GMAT Score for the students who got admission is 675.
- 2 professional LORs (one academic and another one is professional)
- SOP – Statement of Purpose
- MBA essay question.
- Interview
- IELTS/ TOEFL Scores (if any)
Other details related to Ivey Business School – Western University
| Official Site | https://www.ivey.uwo.ca/ |
| Address | 1255 Western Rd, Canada |
| Course Duration | 12 months or 1 year |
| Course Fee | CAD 129750 |
| Exams required | IELTS(7.0), TOEFL(100), GMAT(680-700) |
| International Students | 3837 |
| Scholarship Offered | The Rise Award in Resilient Leadership for Indigenous Students. |
| Application Deadline | February 1, 2025 |
4) UBC Sauder School of Business – British Columbia
It is designed for the students who are looking for MBA in finance in Canada and wanted to pursue their career in finance Industry. By offering complete knowledge related to financial theory and practice, enabling them with the skills required for getting success in finance field.
The finance Unit at UBC is considered one of the world’s top finance departments in research and teaching.
Admission Requirements at UBC Sauder School of Business – British Columbia
- 3-4 years of Bachelor’s Degree with average 3.3 GPA or higher than that.
- Atleast 2 years of full time work experience after completing bachelor’s.
- Atleast 650+ for GMAT Score / GRE 320+
- TOEFL(80+), IELTS(6.5+) (if any)
- LORs / SOP
- MBA Essay Questions
- Interview
Other details related to UBC Sauder School of Business – British Columbia
| Official Site | https://www.sauder.ubc.ca/ |
| Address | Vancouver, Canada |
| Course Duration | 16 months |
| Course Fee | $ 98341 |
| Exams required | IELTS, TOEFL, Duolingo, GMAT |
| International Students | Not Known |
| Scholarship Offered | Hari Varshney MBA Entrance Scholarship |
| Application Deadline | September 5, 2024 |
5) Smith School of Business – Queens University
The Smith School of Business offers a two-year, full-time MBA program in finance. Students who opt for the specialization in finance will receive a diploma in that particular field and an MBA from the University of Canada. Smith School Ranks at No. 5 in Canada.
Admission Requirements at Smith School of Business
- Bachelor’s Degree of Four years.
- Statement of Purpose
- 2 Authentic LORs for MBA in Finance
- One Written Response and 2 Video Questions
- Interview
Other Details of Smith School of Business.
| Official Site | https://smith.queensu.ca/ |
| Address | Ontario, Canada |
| Course Duration | 12 months or 1 year |
| Course Fee | 110000 CAD |
| Exams required | IELTS(7.0), TOEFL(100), GMAT(600+) |
| International Students | 29944 |
| Scholarship Offered | MBA opportunities Scholarship |
| Application Deadline | For summers: September 30, 2024 For Winters: January 13, 2025 |
Want to learn more about these top universities? Contact us now to find the perfect MBA program that aligns with your career goals!
Why study for an MBA in Finance in Canada?
MBA in finance in Canada is a gainful course that International Students choose. The main reason for enrolling in Canadian MBA universities is that it is quite affordable compared to other countries like the US and the UK. Canada offers MBA courses that have a scope for wide-ranging career opportunities, such as different job roles. Canada is the land of the best universities that provide high-quality life, great career opportunities, and an MBA in finance program. Also, check out the ultimate guide to studying for a Master’s in anada for Indian Students.
Here are some of the perks given:
- The salary given to deserving graduates who have completed their master’s in finance is high paying.
- Canada is considered one of the best places to study for an MBA in finance program. It is the land of top-notch universities that provide renowned degrees.
- Scope of MBAs in Finance in Canada is vast, plus different job posts are also available for skilled graduates.
Specialization in Finance Program
Many programs offer specializations. They let you tailor your studies to your interests.
| Specialization | Description |
| Risk Management | Identify, assess, and mitigate financial risks. |
| Fintech | Dive into the exciting world of finance and technology. |
| Investment Banking | Advise companies on mergers, acquisitions, and capital raising. |
| Real Estate Finance | Learn the intricacies of financing real estate projects. |
| International Finance | Understand the complexities of global financial markets. |
Eligibility and Admissions
Getting your MBA in finance in Canada opens the doors to exciting career opportunities. But first, you’ll need to meet the requirements. Then, you have to go through the admissions process. Here’s a checklist to help you get started.
| Document | Description |
| Official Academic Transcripts | Transcripts from all universities and colleges attended. |
| Bachelor’s Degree | A four-year bachelor’s degree in any field is usually accepted. |
| Standardized Test Scores | GMAT or GRE scores demonstrate your quantitative and analytical skills. |
| Resume/CV | Highlight your work experience and relevant skills. |
| Statement of Purpose (SOP) | Explain your career goals and why this program is a good fit. |
| Letters of Recommendation | Two to three letters from professors or employers who can speak to your potential. |
| English Language Proficiency Test | TOEFL, IELTS, or PTE scores may be required for international students. |
| Additional Materials | Some programs may request essays, portfolios, or interviews. |
Tips:
- Start gathering documents well in advance of application deadlines.
- Research specific requirements for your chosen universities.
- Aim for strong scores on standardized tests.
- Craft a compelling SOP for Canada that highlights your unique qualifications.
- Seek out strong recommendation letter writers who know your work well.
Meeting these requirements and presenting a strong application package will boost your chances. You’ll get into top MBA colleges in the Finance program.
Confused about eligibility and admission requirements? Let us simplify the process for you. Contact us for personalized advice on your application!
Costs and Scholarships
Investing in an MBA in Finance in Canada can be a smart move for your career, as compared to other popular foreign countries or destinations like the United States and the United Kingdom, England. The cost of an MBA in finance in Canada is commonly more affordable.
Costs:
- Tuition fees for MBA programs in Canada typically range from 12.20 lacs to 24.41 lacs per year.
- Additional costs include living expenses, books, and health insurance.
Read More: Cost of Studying in Canada
Scholarships:
Many Canadian universities offer scholarships and financial aid for MBA programs, which help offset tuition costs. Also, check out the Scholarship for Indian Students in Canada.
| Scholarship Name | Description | Website Links |
| Joseph-Armand Bombardier Canada Graduate Scholarships – Master’s | Open to international students demonstrating outstanding academic achievement. | https://www.sshrc-crsh.gc.ca/funding-financement/programs-programmes/fellowships/cgs_masters-besc_maitrise-eng.aspx |
| Mitacs Accelerate Program | Provides funding for research-based internships for master’s students. | https://www.mitacs.ca/our-programs/accelerate-core-business/ |
| Ontario Graduate Scholarship (OGS) | Merit-based scholarships for students enrolled in graduate programs at Ontario universities. | https://osap.gov.on.ca/OSAPPortal/en/A-ZListofAid/POCONT1_066881 |
| University-Specific Scholarships | Many universities offer scholarships for MBA students. | University website |
MBA Finance Salary in Canada
The good news? With an MBA in Finance, you can expect to earn a competitive salary in Canada. Some of the job opportunities which is available for MBA students :
| Job Opportunities | Salary package |
| Financial Analyst | CA$55T – CA$76T/yr |
| Investment Banker | CA$75T – CA$98T/yr |
| Corporate Finance Manager | $71K – $123K/yr |
| Portfolio Manager | CAD 75T-98T/yr |
| Risk Management Specialist | CA$66T – CA$99T/yr |
Frequently Asked Questions
1. What are the differences between a master’s (MS) and an MBA in Finance in Canada?
It provides specialized and technical focus on finance-related subjects like financial theory, quantitative techniques/methods, and financial modelling. MS in finance is of 1-2 years of program. It offers finance-related roles like financial analyst, portfolio manager, or risk manager. Meanwhile, an MBA in finance provides a comprehensive business education study with a finance focus. MBA programs cover business topics like strategy, marketing, and operations, in addition to finance subjects. MBA students are prepared for general management roles. The full-time MBA in finance in Canada is generally for 2 years.
2. What Exams Are Required to Study for an MBA in Finance in Canada?
You need a Graduate Management Admissions Test (GMAT) score. The average GMAT score for the top MBA colleges to do an MBA in finance in Canada is around 600-650. You also need previous relevant work experience and you have to take English language proficiency tests, like IELTS (7.0) minimum or TOEFL (96 iBT) minimum. You also need to submit a Statement of Purpose, 2 LORs i.e. one is professional and the other one is Academic-related. etc.
3. What is the scope of an MBA in finance in Canada?
Scope of an MBA in Finance in Canada is vast, with multiple job opportunities available for graduates. MBA graduates can pursue careers in banking, investment management and other key financial sectors. For eg, the Financial Analyst’s average salary is CAD 160,000 per year, Corporate treasurer’s salary is CAD 241,000 per year. The General Manager’s salary is CAD 220000 per year.