Cheapest Masters In Finance In Canada

Last Updated on December 15, 2022 by Omoyeni Adeniyi

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:

UniversityLocation in Canada QS World University Rankings: 2022Program Fees 2022
Memorial University of Newfoundland St. John’s751-800CA$9,700 (5,22,600 INR approx.)
University of Northern British ColumbiaPrince GeorgeCA$3,604 (1,90,000 INR approx.)
University of ManitobaWinnipeg601-650CA$27,919 (16,14,000 INR approx.)
University of SaskatchewanSaskatoon458CA$4,992 (2,63,000 INR approx.)
Saint Mary’s UniversityHalifaxCA$28,655 (15,07,200 INR approx.)
University of OttawaOttawa230CA$18,699 (9,84,00 INR approx.)
University of WaterlooWaterloo=149CA$18,774 (9,87,000 INR approx.)
John Molson School of Business, Concordia UniversityMontreal521-530CA$37,500 (INR 20,27,120 approx.)**all-inclusive
HEC MontrealMontrealCA$45,000 (24,32,600 INR approx.)
Sprott School of Business, Carleton UniversityOttawa601-650CA$55,000 (29,73,100 INR approx.)
Ted Rogers School of Management, Ryerson UniversityToronto801-1000CA$35,818 (19,36,190 INR approx.)
University of New BrunswickFrederictonYear 1: CA$12,410(6,70,900 INR approx.)Year 2: CA$9,930(5,36,700 INR approx.)
University of Prince Edward IslandCharlottetownCA$30,000 (16,21,780 INR approx.)
Wilfrid Laurier UniversityWaterlooCA$36,240 (19,59,200 INR approx.)
Universite LavalQuebec City=414CA$14,774 (8,91,431 INR approx.)
University of AlbertaEdmonton126CA$28,281 (17,06,415 INR approx.)
Simon Fraser University, BurnabyBurnaby298CA$34,060 (20,55,108 INR approx.)(For Executive MBA)
University of Victoria (UVIC)Victoria236CA$12,738 (7,68,583 INR approx.)
University de SherbrookeSherbrookeCA$13,065 (7,88,314 INR approx.)
Vancouver Island UniversityNanaimoCA$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.

Cheapest MBA in Canada for International Students

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: –

  1. Memorial University of Newfoundland
Average Tuition FeeCAD 4,000
Average Residence FeeCAD 5,000 to CAD 8,000 (annually)
ScholarshipsA.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
  1. Brandon University
Average Tuition FeeCAD 8,591
Average Residence FeeCAD 7,426 – CAD 9,644
Scholarship ValueBoard 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
  1. University of Saskatchewan
Average Tuition FeeCAD 6,536
Average Residence FeeCAD 470 – CAD 7,976
ScholarshipsCFUW – 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
  1. University of British Columbia
Average Tuition FeeCAD 7,641
Average Residence FeeCAD 5,318 – CAD 11,254
ScholarshipsInternational Tuition Award – up to CAD 3,200
  1. University of Alberta
Average Tuition FeeCAD 10,260
Average Residence FeeCAD 7,056 – CAD 8,771
ScholarshipsMackenzie 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.
UniversityTOEFL IELTS
University of Toronto7.0
The University of British Columbia90 iBT6.5
McGill University567 PBT/ 86 iBT6.5
University of Waterloo100 iBT7.5
Western University550 PBT/ 213 CBT/ 86 iBT6.0

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:-

ExpensesCosts in USD
Application Fees75-150
Canadian Study Permit Application Fee150
Biometric Fee85
Health Insurance10,000
IELTS185-190
TOEFL160-250
Airfare450-1400
10 Cheap Universities in Canada for International Students

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.

UniversityCourseTuition Fees (Per Year) (USD)
University of TorontoMaster of Arts (MA) Financial Economics17,827 
Master of Finance32,895 
Master Financial Risk Management47,572 
Master in Financial Insurance38,625 
McGill UniversityMaster of Management in Finance17, 760
Master of Business Administration- Finance32,930 
Universite de MontrealMaster of Science (M.Sc) in Applied Financial Economics20,350
University of AlbertaMaster of Arts in Economics & Finance7,875 
York UniversityMaster of Finance59,388 
Concordia UniversityMaster of Science in Finance27,825 

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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