MBA in Finance in Canada – Universities, Eligibility & Scope

MBA in Finance in Canada

An MBA in finance in Canada will open doors to rewarding careers. The course spans one to two years on average, with specializations such as corporate finance, financial analysis, and business taxation. Tuition fees for these courses are around CAD 20,000-40,000 approximately. Those graduating in the subject may also earn handsome salaries going up to CAD 80,000-180,000 per year.

Also Check : Study in Canada

Why Study MBA in Finance in Canada? 

There are several benefits of pursuing an MBA in finance in Canada. They include the following: 

  • The average MBA finance salary in Canada is highly rewarding for skilled graduates. Hiring has only gone up for MBAs due to skyrocketing demand. 
  • The comparatively reasonable MBA in finance in Canada fees (compared to costs in the USA and UK among other global study destinations) is another plus point. 
  • Canada is home to the best universities for MBA programs globally, with globally recognized degrees and excellent educational infrastructure. 
  • The scope of an MBA in finance in Canada is vast, with multiple job roles available for skilled graduates and great industry interfaces, mentoring, real-world projects, and internship opportunities.

Leading Universities for MBA in Finance in Canada

Finance is offered as a specialization, in most cases, as part of an MBA program. Here are the best universities in Canada for finance: 

University  Location Type  QS Ranking by Subject 2022 (Accounting & Finance) Fees Language  Course  Duration
University of Toronto Public Toronto 16 CAD $133,740 English MBA (specializations in Financial Reporting & Analysis, Fund Management, Investment Banking, and Risk Management & Financial Engineering) Two years 
Queen’s University at Kingston Public Kingston  101-150 $104,100 English MBA (specializations in Finance Strategy, Financing of New Ventures, Pricing Analytics) Two years
Université Laval Public Quebec 201-250 $8,136.24 (for 12 credits) French MBA-Finance  Two years 

MBA in Finance in Canada Eligibility Criteria

Here are the MBA in finance Canada requirements that you should keep in mind: 

  • A bachelor’s degree in engineering, science, administration, or any related area of study.
  • LOR.
  • SOP.
  • Four-year undergraduate degree.
  • Resume/CV.

Documents Needed

  • CV/Resume.
  • Cover Letter.
  • SOP.
  • LORs.
  • Academic transcripts.
  • Essays if needed.
  • Scores in standardized examinations.

MBA in Finance in Canada: Highlights 

Here are some things to remember about pursuing the course from Canada: 

Duration 20-24 months 
Average Salary CAD 86,640
Top Recruiters  Super Advisor, National Bank of Canada, HSBC, Manulife, BMO Financial Group, Morgan Stanley, Deloitte, Accenture, Brookfield Asset Management
Top Profiles  Financial Manager/Analyst, Credit Analyst, Treasurer, Accounting Manager, Cash Manager

Cost of Studying MBA in Finance in Canada

For the ease of understanding, let’s divide the cost involved between pre-arrival and post-arrival cost: 

Pre-arrival: The component will include airfare, standardized exam fees, GIC, college application fees and other miscellaneous expenses. It will come out to approximately CAD 12,600. 

Post-Arrival: Students may incur a cost of around CAD 28,000 per annum. It will include accommodation, living costs and health insurance. Add to it the tuition fees to have a closer idea.

How to Apply

You can directly apply at websites of MBA colleges and universities in Canada, submitting all your documents alongside. You will then have to appear for a personal interview or provide additional documents if the institution asks. Once your acceptance letter comes in, you will have to confirm your admission and swiftly pay the initial deposit fee. 

Scope of MBA in Finance in Canada

The scope of an MBA in finance in Canada is undeniably vast and compelling. There are excellent career opportunities available for aspirants in various job roles with handsome starting salaries. Australia offers almost every globally acknowledged specialization for MBA programs at the highest-ranked institutions. 

Scholarships for MBA in Finance in Canada

Name of the Scholarship Name of the Institution Scholarship Amount
MBA Excellence Award University of Toronto CAD 26,000
Women in Business Excellence Award University of Toronto CAD 13,000 
Success Scholarship Laval University CAD 1,000 
AIMCo Scholarship University of Alberta CAD 10,000
Entrance Awards Queen’s University Up to CAD 15,000 

MBA Finance Salary in Canada

Here are some approximate salaries for MBA graduates in Canada with information on job roles:

Work Position Annual Salary
Finance Manager CAD 83,000 
Chief Financial Officer CAD 148,000 
Sr. Business Analyst CAD 87,000
Financial Controller CAD 86,000 
Finance Director CAD 115,000 
Sr. Financial Analyst CAD 84,000 
Chief Executive Officer CAD 140,000 
Project Manager CAD 84,000 

MBA Finance Jobs in Canada

Now that you know the starting and average salaries for MBA in finance in Canada, you should know that Canada has a stable and flourishing economy with rising opportunities in various sectors. It is one of the favored destinations for several MNCs and global conglomerates hiring management graduates in large numbers every year, particularly in domains like finance.  

As per several reports, close to 90% of aspirants at leading universities get placed each year successfully. Graduates can take employment in diverse job roles, including financial managers, financial analysts, senior financial analysts, controllers, etc.  

Frequently Asked Questions

What is the salary of an MBA in finance in Canada?

At a starting level, graduates usually earn up to CAD 90,000 per annum. The yearly average salaries generally range around CAD 79,500.

Can Indian students study MBA in Canada?

Of course, Indian students can pursue MBA in Canada, provided they have bachelor’s degrees, requisite IELTS/TOEFL scores, and meet all the other eligibility criteria. Relevant industry or work experience is always a plus point.

Can you do MBA after BCom in Canada?

You can do an MBA after BCom in Canada without any hassles. MBAs are specializations that may be pursued after an undergraduate degree in commerce, the arts, or science.

How many years does it take for an MBA in Canada?

The average tenure of most MBA courses in Canada stands at around two years. Some Canadian business schools also offer accelerated MBA programs, which can be completed within 18 months on average. There are many other colleges and universities which offer one-year MBAs.

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