MBA in Finance in Canada: Universities, Costs & Prospects

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 or between INR 11.6 lakh to INR 23.2 lakh approximately. Those graduating in the subject may also earn handsome salaries going up to CAD 80,000-180,000 (approximately INR 46.4 lakh to INR 1.04 crore) 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 lucrative and rewarding for skilled graduates. Hiring has only gone up for MBAs due to skyrocketing demand. 

● The comparatively reasonable MBA in finance in Canada fees (accounting for 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

●      Rotman School of Management (University of Toronto) – This is a two-year MBA course with specializations including Financial Reporting and Analysis. The tuition costs are roughly CAD 115,986 or INR 67.27 lakh. 

●      Smith School of Business (Queen’s University) – Tuition fees stand at approximately CAD 93,000 or INR 53.94 lakh for this full-time MBA program specializing in finance. 

●      University of Alberta– The institution offers a full-time MBA in finance that spans two years and costs roughly CAD 42,306 or INR 24.53 lakh. 

●      Laval University- The institution offers an MBA in Finance with training in financial analysis, corporate finance, market finance, portfolio management, and risk management. Average costs stand at CAD 30,448 or INR 17.65 lakh. 

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. 

Cost of Studying MBA in Finance in Canada

The average tuition costs range between INR 11.6-23.2 lakh for MBA in finance in Canada. Health insurance will cost CAD 600-900 or INR 35-52,000 approximately. You can also expect CAD 3,000-7,500 or INR 1.74-4.35 lakh for accommodation and CAD 53 or INR 3,074 per month in internet expenditure. Transportation costs will hover around CAD 100 or INR 5,800 on average. 

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 or INR 15.08 lakh

Women in Business Excellence Award

University of Toronto

CAD 13,000 or INR 7.54 lakh

Success Scholarship

Laval University

CAD 1,000 or INR 58,000

AIMCo Scholarship

University of Alberta

CAD 10,000 or INR 5.8 lakh

Entrance Awards

Queen’s University

Up to CAD 15,000 or INR 8.70 lakh

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 or INR 48.14 lakh

Chief Financial Officer

CAD 148,000 or INR 85.84 lakh

Sr. Business Analyst

CAD 87,000 or INR 50.46 lakh

Financial Controller

CAD 86,000 or INR 49.88 lakh

Finance Director

CAD 115,000 or INR 66.70 lakh

Sr. Financial Analyst

CAD 84,000 or INR 48.72 lakh

Chief Executive Officer

CAD 140,000 or INR 81.20 lakh

Project Manager

CAD 84,000 or INR 48.72 lakh

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.  

English Language Tests for MBA in Finance in Canada

You need to demonstrate English language proficiency to apply for an MBA in Finance in Canada successfully. You can submit your scores in either TOEFL iBT or IELTS.  

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 or approximately INR 53 lakh per annum. Yearly salaries generally range around CAD 79,500 or approximately INR 47 lakh.

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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