Navigating Finance Courses in Canada: Top Universities, Fees, and Eligibility

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MOEC

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Updated On 09 June 2023

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Read Time 12 minutes

Overview

Are you interested in finance studies? From developing financial expertise and expanding career prospects to enhancing entrepreneurial skills, finance education holds great importance for you to specialise in it. In addition to its significance, studying finance in Canada can benefit you in many ways, like a high-quality study in Canada, its robust and stable financial sector, and the reputation of Canadian education worldwide. Apart from this wide range of finance courses in Canada are available, along with dedicated research centres and excellent post-graduation work opportunities for international students.

 

Top Universities for Finance Courses in Canada

Now that you’ve seen why Canadian finance courses are a good choice. Let’s look at some of the top-most universities in Canada that provide courses in the finance sector.

 

University of Toronto

 

The University of Toronto comes 34th among the top universities, offering excellent financial education prospects. Here you can choose a Commerce degree with a finance specialisation. Aside from B.Com., you can also pick a finance major in Rotman Commerce program over here. Have a look at the list of popular finance courses in Canada offered by the University of Toronto.

  • B.Com. [Finance and Economics]

  • B.Sc. Honours [Financial Economics]

  • Master of Mathematical Finance

 

The University of Toronto provides you with state-of-the-art facilities, extensively experienced faculty members, exceptional industry connections, and various merit-based / need-based financial assistance programs for finance courses in Canada for international students. Internship positions, co-op programmes, and career fairs can help you make relationships with industry professionals.

 

University of British Columbia

 

The University of British Columbia (UBC) offers excellent opportunities for studying finance courses in Canada. According to QS World University Ranking, UBC comes in 47th position. You can choose your finance major from various options available at the undergraduate and graduate levels, including:

  • Bachelor of Commerce (BCom) with a specialisation in Finance

  • Portfolio Management Foundation (PMF)

  • Finance specialisation in the MBA program

  • Master of Science in Finance (MSc)

  • PhD program in finance

 

The Sauder School of Business, affiliated with UBC, boasts renowned faculty members along with extensive industry experience and research accomplishments. With UBC's proximity to Vancouver and the Sauder School of Business, you’ll get access to several financial job prospects.

 

The University of British Columbia (UBC) offers support services like immigration assistance, orientation programs, resources, language and cultural integration, research requirements, procedures, and other considerations for finance degrees in Canada

 

McMaster University 

 

McMaster University, located in Hamilton, Ontario, is a famous Canadian institution that ranks at 152nd position per QS World University Ranking. The university respects the strong academic reputation, research excellence, state-of-the-art facilities, and experiential learning opportunities are all respected by the university. Canadian finance courses here are mainly offered through this university’s business programs, especially the DeGroote School of Business. Take a look at McMaster University’s finance courses in Canada: 

  • B.Com. in Finance 

  • MBA with a Finance Focus

  • Master of Finance (MFin)

  • Master of Financial Mathematics

 

McMaster University strongly emphasises experiential learning options like internships. Such prospects allow you to transform your theoretical knowledge of finance in real industries. 

 

University of Waterloo

 

The University of Waterloo’s School of Accounting and Finance provides you with several program offerings as a cooperative education, bringing a new generation of accounting and finance professionals to the world to lead businesses through an era. Below is the list of popular graduate and undergraduate courses of the University of Waterloo’s Canadian finance courses

  • Master of Quantitative Finance (MQF)

  • Accounting and Financial Management (AFM)

  • Computing and Financial Management (CFM)

  • Sustainability and Financial Management (SFM)

  • Master of Accounting (MAcc)

  • PhD in Accounting

 

The University of Waterloo offers you research opportunities, along with several networking opportunities from student clubs to guest speaker events. Besides these prospects for finance degrees in Canada, you can also choose finance as an elective while pursuing other subjects. 

 

University of Ottawa

 

The University of Ottawa ranks in the 237th position and is a prestigious Canadian institution offering a diverse range of programs across multiple disciplines, especially finance. By opting for this university for your finance major, you will gain its research environment, bilingual education, and dedication to academic success. You’ll also get contemporary facilities, research centres, and a thriving student community on a picturesque campus in the heart of Ottawa. Let’s look at the list of the University of Ottawa’s finance courses in Canada.

  • Honours Bachelor of Commerce (Option in Finance)

  • Honours Bachelor of Commerce (Option in Finance) (Complementary Option in Business Analytics)

  • Honours Bachelor of Commerce (Option in Finance) (Complementary Option in Entrepreneurship)

  • Honours BSc Financial Mathematics and Economics

  • Microprogram Capital Markets

 

You can choose a finance program from the above list taught at one of the best finance universities in Canada. At the University of Ottawa, you will find a supportive and inclusive atmosphere fostering intellectual and personal growth.

 

Fees and Financial Aid

In the odyssey of financial education, researching the top universities might be your first idea, but knowing the tuition fees for finance courses in Canada is also important. Before you get confused, let me tell you that the cost of studying at the best finance universities in Canada can vary from university to program level. Take a look at the fee structure for Canadian finance courses in the top-most universities in Canada

University

International Students

University of Toronto

CAD 30,000 - CAD 50,000

University of British Columbia

CAD 25,000 - CAD 40,000

McMaster University

CAD 20,000 - CAD 35,000

University of Waterloo

CAD 22,000 - CAD 38,000

University of Ottawa

CAD 25,000 - CAD 42,000

In addition, when you will be budgeting for your education abroad, there may be other costs arise, like textbooks, materials, and housing expenses, which are also crucial to include. The universities in Canada also offer scholarships and financial aid to help with your educational expenses

 

Scholarships and Financial Aid Opportunities

When you’re planning to study finance in Canada, you might be surprised after knowing the fee structure in the universities over there. Scholarships and financial aid are excellent ways to alleviate financial stress. You will find various types of scholarships available for your support to pursue finance courses in Canada. Several financial aid options will be available, from Government Scholarships to Co-op Programs to Research Assistantships. Still, University-specific scholarships are the most valuable source of aid to pursue Canadian finance courses. Have a look at them briefly below:

  • Merit-Based Scholarships: It is based on your academic excellence and may be awarded automatically, but they may also require a separate application process in some cases.

  • Entrance Scholarships: It’s for attracting top-performing students and is mainly based on combining factors like academic achievements, extracurricular involvement, leadership skills, etc.

  • Program-Specific Scholarships: You may get finance program-specific scholarships to support you in the same field. 

  • Need-Based Scholarships: Some of you may require scholarships to cover your finances to continue your study while ensuring fair chances for all.

  • Leadership and Community Engagement Scholarships: You may get this scholarship by demonstrating strong leadership skills and excellent community development.

  • International Student Scholarships: You may find, particularly for international students, to make education more accessible and inexpensive for students like you worldwide.

It's crucial to remember that the availability and eligibility requirements for these scholarships differ by university. A dedicated financial aid office at a university may also help you identify the right scholarships by offering advice and support.

 

Educational Requirements for Finance Courses in Canada

The level of study and the particular programme determine which educational qualifications apply to finance courses in Canada. Here's a quick rundown:

 

Undergraduate Programs

  • High school diploma or equivalent.

  • Minimum grade point average (GPA).

  • Specific prerequisite courses (e.g., mathematics, English).

  • Some universities may require standardised test scores (e.g., SAT, ACT).

 

Graduate Programs

  • Bachelor's degree in a related field.

  • Minimum GPA.

  • Letters of recommendation.

  • Statement of purpose.

  • Standardised test scores (e.g., GMAT, GRE) may be required for some programs.

 

English Language Requirements

Studying abroad in Canada must require English language proficiency, which further differs from the university-by-university and program of study. In general, universities in Canada demand proof of  English language proficiency from students coming from non-English speaking nations. Below is the table of some common English language tests mentioned by universities in Canada

English Language Test

Score Limitations

IELTS

An overall band score of 6.0 to 7.0 

TOEFL

An Internet-based test score of 80 to 100 

PTE

Overall score of 50 to 70 

Application Process

Now that you’ve relevant knowledge for studying finance courses in Canada, there’s just one aspect left for you to understand deeply. Knowing the application procedure is crucial for the timely preparation and submission of relevant papers, meeting the right deadlines, and ensuring a hassle-free application process to increase your chances of admission. Let’s look at the details: 

  • Research and Select Universities: Start researching through suitable universities and pick out the one that aligns with your educational goals, like exploring finance programs and their curriculum
     

  • Review Admission Requirements: Check admission requirements very carefully for every university you prefer, and taking notes is also advisable. 
     

  • Prepare Application Materials: Collect all the papers needed for your application, including the completed application form, transcripts, English proficiency test scores, letters of recommendation, statement of purpose, and a detailed resume or curriculum vitae. 
     

  • Application Submission: Fill out the application form and submit it with all the important documents before a specified date. Must pay attention to application fees and ensure correct information.
     

  • Track Application Status: Keep an eye on your application’s progress. Universities typically provide an online portal or system to check the status and receive updates.
     

  • Await Admission Decision: University’s admission committee reviews your application which takes time, depending on your university. 
     

  • Acceptance and Enrolment: After receiving the offer letter, carefully read the terms and conditions. Accept the offer, deposit your fees, select courses and set up your housing. 
     

Finally, all the details mentioned above can differ from university to university and programs of study per their requirements. You’ve now come to an end. 

 

Conclusion

 In the long run, you now have complete knowledge of top universities providing finance courses in Canada for international students, average fee structure, scholarships and financial aid options, key eligibility requirements along with English language proficiency, and entire application procedure details.

 

You’ll find it great to pursue Canadian finance courses in world-class universities renowned for their financial programs. Universities over here are famous for their research and extensive state-of-the-art facilities, providing you with theoretical and practical knowledge. Canadian universities’ networks in growing financial industries will benefit you for internships, industrial connections and future job prospects.  

 

FAQs

 Q What finance courses are available in Canada?

A. Several undergraduate and graduate programs are available in Canada, including finance, accounting, financial management, and investment analysis. Aspiring professionals can choose from a variety of specialisations offered by universities.

 

Q. What are the admission requirements for finance courses in Canada?

A. The requirements for undergraduate programs vary among universities but typically include a high school diploma or equivalent. In addition, for graduate degrees, they usually require a bachelor's degree in a related field. For international students, English language proficiency tests such as IELTS or TOEFL may be required.

 

Q. Are scholarships or financial aid available for finance students in Canada?

A. Yes, many universities provide scholarships, grants, and financial aid to students pursuing finance courses in Canada. These opportunities are merit-based, need-based, or demographically specific. It is worthwhile to investigate the financial aid options available at each university.

 

Q. What career prospects can I expect with a Canada finance degree?

A. Canadian finance courses can lead to a variety of career opportunities. Finance, banking, investment management, corporate finance, consulting, risk management, and other fields are available to graduates. The strength of Canada's financial sector and global connections provide a competitive advantage in the job market.

 

Q. Can I work while studying finance in Canada?

A. Yes, as an international student, you may be eligible to work part-time while studying in Canada. The government permits international students to work up to 20 hours per week during regular academic sessions and full-time during scheduled breaks. This can provide valuable work experience as well as financial assistance with your studies. 

 

We hope you enjoyed learning about the finance courses in Canada. If you would like to get a deeper insight into how to study in Canada, we encourage you to have a word with our team of expert counsellors at Meridean Overseas Education Consultants (MOEC). Our counsellors will provide you with guidance throughout your study abroad journey. Get help with the application process, SOPs and filing for a visa. Visit us and get one-to-one counselling or avail yourself of free video counselling via our website. We will be happy to help you, so please do not hesitate to contact us at application02@meridean.org or 1800-1230-00011.

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