An MBA in Finance in Canada is a highly lucrative choice for international students. Canada is an attractive destination to study due to its affordability compared to other global locations such as the USA, UK, Australia, etc., and the presence of top-tier universities. MBA in Finance in Canada offers various career opportunities with high starting salaries. It also opens doors for a post-graduation work permit in Canada.
Key highlights of the Blog:
- Top Universities: University of Toronto, Queen’s University, University of Alberta, and more.
- Admission Requirements: Bachelor's degree, GMAT/GRE scores, and English proficiency.
- Total cost: An MBA in Finance in Canada can cost between CAD 20,000 to CAD 40,000 annually.
- Career Prospects: Lucrative job roles like Financial Analyst, Management Consultant, and Project Manager with impressive salaries.
Gaining admission to a top finance program in Canada requires you to shortlist the universities, apply to universities, visa applications, and many more. Don’t worry, Yocket is here to help. Yocket Premium has helped over 10,000 students gain dream admits to B-schools like Wharton, HBS, Kellogg, and many more! Explore Yocket Premium today to know more.
Why Study an MBA in Finance in Canada?
Canada is an attractive destination for students seeking an MBA in Finance - Canada has several advantages. Because many of the world's top most renowned business academies have impressive facilities for training scholars here, it becomes a good reason why every finance scholar might want to consider coming here and nothing else. As a result, provided are some key factors why you should study here:
- Some top-rated Canadian universities, the University of Toronto, McGill University, and the University of British Columbia, are known for providing a great quality MBA degree characterised by a compact emphasis on financial matters.
- Research in Canada offers a dynamic job market with excellent internship, co-op, and full-time opportunities.
- Canada features a multi-cultural and non-discriminatory setting that always welcomes international students looking to study in the country.
- There are extensive alumni networks from most Canadian business schools, which transcend national borders.
MBA in Finance in Canada: Top Universities
If you want a sound qualitative education and job offers, an MBA in finance in Canada could be useful. Here are some of the top universities offering MBA programs with a focus on finance:
|
University |
Annual Tuition Fees (CAD) |
Annual Tuition Fees (INR) |
Avg. GMAT Score Required |
Avg. Work Exp. Required |
Avg. English Proficiency Score |
|---|---|---|---|---|---|
|
31,864 |
19,48,830 |
605 |
5 years |
IELTS: 7.0 TOEFL: 100 |
|
|
17,650 |
10,79,510 |
550 |
3 years |
IELTS: 6.5 TOEFL: 79 |
|
|
44,749 |
27,36,830 |
669 |
6 years |
IELTS: 7.0 TOEFL: 100 |
|
|
34,149 |
20,88,590 |
654 |
4.5 years |
IELTS: 7.0 TOEFL: 96 |
Suggested: Top MBA Colleges in Canada
MBA in Finance in Canada: Eligibility Criteria
Eligibility requirements for people seeking an MBA in Canada are generally a mix of academic qualifications, work background, standardised examination results, and language ability. Here are the specific requirements:
- A bachelor’s degree from an authorised institution is a necessity.
- For admission into an MBA program in Canada, the applicants must have at least a 3.0 GPA in their undergraduate studies on a 4.0 scale. The minimum requirement slightly differs across different MBA programs.
- At least 2-5 years of professional experience is necessary. However, exceptions might be made if the candidate shows excellent academic progress or work performance.
- Candidates must provide GMAT/GRE results.
- You need to take English proficiency tests like TOEFL (with a score range going from 90 up to 100) or IELTS (starting at 6.5 and ending at 7.0).
- You will also have to get at least two academic letters of recommendation. An academic or professional reference should be able (that is, possess the capacity) to ascertain if you have the qualifications needed.
- It is necessary to provide a comprehensive resume or curriculum vitae that highlights the academic history, job history, and accomplishments.
MBA in Finance in Canada: How to Apply?
If you want to apply for an MBA in Finance in Canada, make sure to follow these steps:
- Fill in the school’s specific online application form accurately and completely.
- Submit all necessary documents such as transcripts, CV, referee letters and your intent statement.
- Pay the application fee, which may range from CAD 100 (INR 6,090) to CAD 200 (INR 12,190).
MBA in Finance in Canada: Work Permit
Students who plan to stay back in Canada after their studies need a Post-Graduation Work Permit (PGWP). The acquisition of a PGWP during studies in Canada depends on the kind of course you study and its duration. This means PGWP is issued based on the period of a study program. In Canada, a PGWP may run for a maximum of three years.
Here are some necessary details about PGWP:
- When you graduate as an international student, you may stay longer in this country and gain professional skills through work.
- To qualify for working papers, you need to have taken full-time courses that run for at least eight months while residing in Canada. They are also required to apply no later than six months after finishing school.
MBA in Finance in Canada: Living Costs
The high-quality education system and diverse job market make many people in Canada opt for an MBA program in finance. When it comes to budgeting and financial planning, knowing about the costs of living is essential. Here are the estimated costs of living for a Canada-based MBA student:
|
Particulars |
Cost (CAD) |
Cost (INR) |
|---|---|---|
|
Food |
260 |
15,910 |
|
Transport |
52 |
3,180 |
|
Entertainment |
140 |
8,560 |
|
Internet |
28 |
1,710 |
|
Books |
145 |
8,860 |
|
Health Insurance |
745 |
45,560 |
Suggested: Cost of Studying MBA in Canada
MBA in Finance in Canada: Scholarships
Studying an MBA in Canada can be expensive. Many universities have scholarships for international students to alleviate their financial burdens. Some scholarship chances for global students are presented below:
|
Scholarship |
University |
Amount (CAD) |
Amount (INR) |
|
Entrance Awards |
Queen’s University |
14,710 |
8,99,890 |
|
Business Excellence Award |
University of Toronto |
12,830 |
7,84,940 |
|
AIMCo Scholarship |
University of Alberta |
9,850 |
6,02,950 |
|
Success Scholarship |
Laval University |
980 |
59,950 |
|
MBA Excellence Award |
University of Toronto |
25,660 |
15,69,960 |
Jobs & Average Salary After MBA in Finance in Canada
Getting an MBA in Finance in Canada can open doors to different well-paid and satisfying career paths. Below are typical job positions for financial MBA holders and their approximate annual earnings:
|
Job Role |
Average Salary (CAD) |
Average Salary (INR) |
|
Project Manager |
85,246 |
52,12,450 |
|
Financial Analyst |
61,484 |
37,59,500 |
|
Business Analyst |
68,385 |
41,81,460 |
|
Financial Controller |
82,981 |
50,73,950 |
|
Management Consultant |
80,689 |
49,33,810 |
MS vs MBA in Finance in Canada
The MBA degree in Finance covers a wide range of subjects, including accounting, financial management, market research, and management. Whereas, the MS program or Master’s program concerning Finance in Canada is mainly concerned with the scholarly side of finance and accounting. The selection among them primarily depends on the kind of occupation that one would expect to follow eventually.
- The MBA in Finance has more business-related courses. Financial theory, mathematics, quantitative finance, investments, financial analysis, and reporting are in the MS in Finance curriculum.
- You need to submit a GMAT score above average while having at least 2 years of work experience for admission into an MBA in Finance which is more competitive than some Masters programs like those found at Canadian universities which ask for GRE scores.
- Qualifications for an MBA in Finance include a bachelor’s degree in any field while must have a rich finance background to be eligible for an MS in Finance.
- An individual with an MBA Finance qualification can be employed in many sectors; whereas those graduating with an MS in Finance qualification are prepared for jobs that are purely related to trading, investments and risk management.
- In Canada, those who have completed their MBA in finance can earn as much as CAD 90,350 (INR 55,24,540) per annum whereas MS Finance graduates are normally paid CAD 79,500 (INR 48,61,100) annually.
Suggested: MBA Scholarships in Canada
From the Desk of Yocket
Studying for an MBA in Finance in Canada is rewarding and fulfilling for international students in many ways. Canada offers affordable and qualitative education, reputed universities, and job opportunities in finance. The possibility of post-graduation work permits makes Canada an attractive study-abroad destination.
Speak with Yocket experts to help with the simple and not-so-simple intricacies of application, visa, and more. Explore Yocket Premium and be a part of the community of 1.2 million students getting into their dream B-schools. Leap and see what opportunities and growth MBA in Finance in Canada will open to you!
