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MBA in Finance in Canada – Universities, Eligibility & Scope

Updated on 10 February, 2024

Bulbul Sharma

Bulbul Sharma

Manager- Content @upGrad

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 approximately CAD 20,000-40,000. Those graduating in the subject may also earn handsome salaries up to CAD 80,000-180,000 annually.

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MBA in Finance in Canada: Highlights 

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

ProgramPost- Graduate
Duration20-24 months 
Average SalaryCAD 85k per year 
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

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 Type



QS Ranking by Subject  


(Accounting & Finance)

FeesLanguage Course Duration
University of TorontoPublicToronto15CAD $133,740EnglishMBA (specializations in Financial Reporting & Analysis, Fund Management, Investment Banking, and Risk Management & Financial Engineering)Two years 
Queen’s University at KingstonPublicKingston 101-150


$15,166.25/ per year

EnglishMBA (specializations in Finance Strategy, Financing of New Ventures, Pricing Analytics)Two years
Université LavalPublicQuebec201-250$8,136.24 (for 12 credits)FrenchMBA-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.

Cost of Studying MBA in Finance in Canada

For 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 ScholarshipName of the InstitutionScholarship Amount
MBA Excellence AwardUniversity of TorontoCAD 26,000
Women in Business Excellence AwardUniversity of TorontoCAD 13,000 
Success ScholarshipLaval UniversityCAD 1,000 
AIMCo ScholarshipUniversity of AlbertaCAD 10,000
Entrance AwardsQueen’s UniversityUp 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 PositionAnnual Salary
Finance ManagerCAD 1,15,344
Chief Financial OfficerCAD 1,86, 989
Sr. Business AnalystCAD 95, 983
Financial ControllerCAD 1,06, 108
Finance DirectorCAD 138831
Sr. Financial AnalystCAD 99,213
Chief Executive OfficerCAD 1,49,136
Project ManagerCAD 97,931

Source: Glassdoor 2023

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.  


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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Bulbul Sharma

Manager- Content @upGrad

Bulbul is a self-driven professional and an expert writer & editor. She has been a part of the ed-tech industry for the past 2 years now and is motivated to provide study abroad aspirants with factually correct and relevant information. Her knack for impactful writing makes her blogs worth a read!

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