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.
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
Location
QS Ranking by Subject
2023
(Accounting & Finance)
Fees
Language
Course
Duration
University of Toronto
Public
Toronto
15
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
$15,166.25/ per year
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.
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 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 1,15,344
Chief Financial Officer
CAD 1,86, 989
Sr. Business Analyst
CAD 95, 983
Financial Controller
CAD 1,06, 108
Finance Director
CAD 138831
Sr. Financial Analyst
CAD 99,213
Chief Executive Officer
CAD 1,49,136
Project Manager
CAD 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.
FAQs
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.
Rakhee Talukdar is an edtech expert with five years of experience in the education technology sector, focusing on K-12 and higher education systems in various countries, including Canada, USA, Finland, France, and Germany. Her background includes founding a startup and working with early-stage educational ventures, giving her a nuanced understanding of the challenges and opportunities within these educational landscapes. Additionally, Rakhee specializes in helping students craft compelling Statements of Purpose (SOPs) for studying abroad, leveraging her insights into different education systems to guide students in articulating their academic and professional goals effectively. Her comprehensive knowledge and strategic approach make her a valuable resource for students navigating their educational journeys and financial planning.
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