Are you interested in pursuing a Master’s degree in Finance? Canada offers some of the most affordable Masters in Finance degrees in the world. In this post, we explore Cheapest Masters In Finance In Canada, cheapest university in canada for masters, masters in finance canada eligibility, master in finance canada cost and masters in finance in canada without gmat.
The Master of Arts (MA) and Master of Science (MSc) can be obtained online or on-campus. These programs are designed to provide students with a strong theoretical foundation and practical skills to make them competitive in today’s job market. Read on to know more about Cheapest Masters In Finance In Canada, cheapest university in canada for masters, masters in finance canada eligibility, master in finance canada cost and masters in finance in canada without gmat.
A Master’s in Finance program is a great choice for those who want to pursue a career in business, government or academia. The study aims to assist government and private enterprises in financial decision-making process.
A Master’s degree can also prepare students for doctoral programs at top universities around the world.
This program focuses on developing analytical skills that will prepare students for a career in finance or quantitative analysis. Students learn how to conduct research on financial topics and write reports based on their findings. They also learn how to analyze financial data as well as make recommendations for policy changes based on their findings.
Students typically participate in case studies where they work through real world situations involving ethical dilemmas or other issues related to finance. In addition, they may be required to complete an internship with a company that uses financial models regularly such as banks, hedge funds or investment firms.
Cheapest Masters In Finance In Canada
We begin with Cheapest Masters In Finance In Canada, then cheapest university in canada for masters, masters in finance canada eligibility, master in finance canada cost and masters in finance in canada without gmat.
Types of Low Cost MBA in Canada
The costs of MBA in Canada may vary with respect to the duration, nature, structure and popularity of your chosen course. Further, the location and the language of instruction, since a few states are French-speaking, also impact the fees implemented. Amongst the list of courses for low cost MBA in Canada, here are the different degrees you can pursue:
- Full Time
- Part-Time MBA
- Accelerated MBA
- Executive MBA
- Professional MBA
- Dual Degree MBA
Low Cost MBA in Canada 2022
Here are the top Low cost MBA colleges in Canada 2022:
| University | Location in Canada | QS World University Rankings: 2022 | Program Fees 2022 |
| Memorial University of Newfoundland | St. John’s | 751-800 | CA$9,700 (5,22,600 INR approx.) |
| University of Northern British Columbia | Prince George | – | CA$3,604 (1,90,000 INR approx.) |
| University of Manitoba | Winnipeg | 601-650 | CA$27,919 (16,14,000 INR approx.) |
| University of Saskatchewan | Saskatoon | 458 | CA$4,992 (2,63,000 INR approx.) |
| Saint Mary’s University | Halifax | – | CA$28,655 (15,07,200 INR approx.) |
| University of Ottawa | Ottawa | 230 | CA$18,699 (9,84,00 INR approx.) |
| University of Waterloo | Waterloo | =149 | CA$18,774 (9,87,000 INR approx.) |
| John Molson School of Business, Concordia University | Montreal | 521-530 | CA$37,500 (INR 20,27,120 approx.)**all-inclusive |
| HEC Montreal | Montreal | – | CA$45,000 (24,32,600 INR approx.) |
| Sprott School of Business, Carleton University | Ottawa | 601-650 | CA$55,000 (29,73,100 INR approx.) |
| Ted Rogers School of Management, Ryerson University | Toronto | 801-1000 | CA$35,818 (19,36,190 INR approx.) |
| University of New Brunswick | Fredericton | – | Year 1: CA$12,410(6,70,900 INR approx.)Year 2: CA$9,930(5,36,700 INR approx.) |
| University of Prince Edward Island | Charlottetown | – | CA$30,000 (16,21,780 INR approx.) |
| Wilfrid Laurier University | Waterloo | – | CA$36,240 (19,59,200 INR approx.) |
| Universite Laval | Quebec City | =414 | CA$14,774 (8,91,431 INR approx.) |
| University of Alberta | Edmonton | 126 | CA$28,281 (17,06,415 INR approx.) |
| Simon Fraser University, Burnaby | Burnaby | 298 | CA$34,060 (20,55,108 INR approx.)(For Executive MBA) |
| University of Victoria (UVIC) | Victoria | 236 | CA$12,738 (7,68,583 INR approx.) |
| University de Sherbrooke | Sherbrooke | – | CA$13,065 (7,88,314 INR approx.) |
| Vancouver Island University | Nanaimo | – | CA$25,600 (15,44,649 INR approx.) |
cheapest university in canada for masters
Now we consider cheapest university in canada for masters, masters in finance canada eligibility, master in finance canada cost and masters in finance in canada without gmat.
Top Canadian Universities with Low Tuition Fee
Scholarship (external or internal) provides an idea about how much financial help the students can avail, if they get lucky with the scholarships. To determine the average expenditure a student may need to bear, average tuition fee, accommodation fees and meals costs.
The table shows Tuition Fee, Residence fee and Scholarships for international students in 10 well-known, low cost universities of Canada: –
- Memorial University of Newfoundland
| Average Tuition Fee | CAD 4,000 |
| Average Residence Fee | CAD 5,000 to CAD 8,000 (annually) |
| Scholarships | A.G. Hatcher Memorial Scholarship |
| AAC Student Scholarship (Aquaculture Association of Canada) | |
| ACUNS Awards Program – Canadian Northern Studies Trust Awards Program | |
| Affinity NL (Ottawa) Scholarship | |
| Air and Waste Management Association (A&WMA) Scholarship Program |
- Brandon University
| Average Tuition Fee | CAD 8,591 |
| Average Residence Fee | CAD 7,426 – CAD 9,644 |
| Scholarship Value | Board of Governors (BoG) Entrance Scholarships – up to CAD 2,000 |
| IB (International Baccalaureate) Scholarships – up to CAD 2,800 | |
| AP (Advanced Placement) Scholarships – up to CAD 250 | |
| Automatic-Consideration & Applied-For Entrance Scholarships – up to CAD 2,000 same as BoG |
- University of Saskatchewan
| Average Tuition Fee | CAD 6,536 |
| Average Residence Fee | CAD 470 – CAD 7,976 |
| Scholarships | CFUW – Canadian Home Economics Association (CHEA) Fellowship – CAD 6,000 |
| CFUW – Ruth Binnie Fellowship – CAD 6,000 | |
| CFUW Memorial Fellowship – CAD 8,000 | |
| Elizabeth Helen McLeod Scholarship – CAD 2,000 | |
| Garry H. Beatty Scholarship – CAD 1,000 |
- University of British Columbia
| Average Tuition Fee | CAD 7,641 |
| Average Residence Fee | CAD 5,318 – CAD 11,254 |
| Scholarships | International Tuition Award – up to CAD 3,200 |
- University of Alberta
| Average Tuition Fee | CAD 10,260 |
| Average Residence Fee | CAD 7,056 – CAD 8,771 |
| Scholarships | Mackenzie King Open Scholarship – CAD 8,500 |
| Alberta Innovates Graduate Student Scholarship – CAD 26,500 | |
| Queen Elizabeth II Graduate Scholarship – CAD 10,800 |
masters in finance canada eligibility
Now we review masters in finance canada eligibility, master in finance canada cost and masters in finance in canada without gmat.
Eligibility Criteria for Masters in Finance in Canada
The section given below dwells into common prerequisites related to the admission process of Canadian universities such as academic preparations and standardized tests. It is important to note that these eligibility criteria are exclusively for international students only.
- Academic Qualification: Prospective applicants must have completed their undergraduate degree from an accredited university/ institution with prerequisite classes in fields like business statistics, financial theory, business finance, etc.
- Minimum GPA: Generally, candidates who want to study masters in finance must have a minimum GPA of 3.0. Whereas, transfer students must have scored at least a 2.0 GPA (~73-76%) on a 4.0 scale. Most online graduate programs do not have the minimum GPA requirement for admission.
- Standardized Test Scores: International students applying for MS in Finance in Canada must submit the test scores of standardized tests like GMAT or GRE. The minimum requirements of these tests vary from university to university.
- English Proficiency Requirements: Non-native English speakers are required to prove their proficiency in the English language. International students can submit the scores of tests like IELTS or TOEFL for the same.
| University | TOEFL | IELTS |
|---|---|---|
| University of Toronto | – | 7.0 |
| The University of British Columbia | 90 iBT | 6.5 |
| McGill University | 567 PBT/ 86 iBT | 6.5 |
| University of Waterloo | 100 iBT | 7.5 |
| Western University | 550 PBT/ 213 CBT/ 86 iBT | 6.0 |
Admission Requirements for Master in Finance in Canada
Given below are the admission requirements common for the majority of Canadian universities offering Masters in Finance programs.
- Transcripts: Applicants must submit official transcripts of all previous qualifications along with their certified copies. International students are required to provide English/ French language translations as well.
- Resume/ CV: To secure admission in Master in Finance, students need to submit an updated version of their resume or curriculum vitae showing a detailed academic and work history.
- Work Experience: Various master’s programs in finance such as executive MBAs require students to show proof of a minimum of two years of relevant work experience. Applicants with significant career achievements gain a competitive edge during the selection process and can qualify for paid fellowships.
- Personal Statement: A personal statement is an important application document that allows prospective candidates to set themselves apart from other applicants by describing their academic and professional accomplishments. Most universities require a one-to-two page statement to determine the students’ motivations and aspirations for the future.
- Letters of Recommendations: Candidates are expected to submit at least two letters of recommendation along with their applications. These letters should be from academic and professional references attesting the student’s personal achievements and professional qualities.
master in finance canada cost
Cost of Pursuing Masters in Finance in Canada
International students planning to pursue an MS in Finance in Canada must cover the number of tuition fees along with living expenses and pre-arrival costs.
Pre-Arrival Costs for Masters in Finance in Canada
These are the one-time expenses made before or along with the admission process. The major elements of the pre-arrival costs are tabulated below:-
| Expenses | Costs in USD |
|---|---|
| Application Fees | 75-150 |
| Canadian Study Permit Application Fee | 150 |
| Biometric Fee | 85 |
| Health Insurance | 10,000 |
| IELTS | 185-190 |
| TOEFL | 160-250 |
| Airfare | 450-1400 |
Tuition Fees for Masters in Finance in Canada
Given below is an overview of tuition fees for international students who are planning to study finance programs at the top universities in Canada. For further information, students are advised to visit universities’ official websites.
| University | Course | Tuition Fees (Per Year) (USD) |
|---|---|---|
| University of Toronto | Master of Arts (MA) Financial Economics | 17,827 |
| Master of Finance | 32,895 | |
| Master Financial Risk Management | 47,572 | |
| Master in Financial Insurance | 38,625 | |
| McGill University | Master of Management in Finance | 17, 760 |
| Master of Business Administration- Finance | 32,930 | |
| Universite de Montreal | Master of Science (M.Sc) in Applied Financial Economics | 20,350 |
| University of Alberta | Master of Arts in Economics & Finance | 7,875 |
| York University | Master of Finance | 59,388 |
| Concordia University | Master of Science in Finance | 27,825 |
masters in finance in canada without gmat
If you’re looking for a Masters in Finance without GMAT, Canadian schools are an excellent option.
Queen’s University offers a Master of Finance degree that does not require the GRE or GMAT. The program is designed to prepare students for careers in the financial industry, with a focus on corporate finance and investments. It also has an emphasis on quantitative analysis and advanced mathematical skills.
Lakehead University also offers a Master of Finance degree program that doesn’t require either GRE or GMAT scores. The program focuses on real-world applications of financial theory, and it emphasizes communication skills and leadership potential as well as technical proficiency in business research methods and analysis.
Thompson Rivers University provides a Master of Business Administration (MBA) program that does not require either GRE or GMAT scores. This program teaches students how to use financial concepts and theories to solve practical problems in contemporary business settings, with an emphasis on leadership skills and ethics in decision making processes.
New York Institute of Technology offers both full-time MBA programs as well as part-time executive MBA programs without requiring any admissions exams like GRE or GMAT scores—either option will allow students to develop their leadership skills through courses focused on understanding corporate culture.
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