Masters In International Accounting And Finance In Canada

Last Updated on August 28, 2023


This specialist Master’s degree offers a broad introduction to the international finance sector, as well as the expertise and skills for you to undertake a range of specialized roles in finance and related disciplines, including equity analysis, portfolio management, consulting, trader sales, M&A and IPOs, securitization, and credit analysis in private or investment banking.

The course is modeled on the official Chartered Financial Analyst® (CFA) curriculum*, helping students obtain the qualification most highly regarded by financial services professionals across the world. This MSc will also offer you exciting opportunities to put your theoretical knowledge into practice through real-world portfolio simulations and Bloomberg training sessions in our Financial Market Lab.

NOTE: In addition to helping you build up to take the CFA exam, as an option we also offer to prepare you for the Bloomberg and AMF (French Financial Market Regulator) certifications.

*Chartered Financial Analyst® is a registered trademark owned by CFA Institute. Please note that this programme is not affiliated with, sponsored, or approved by CFA Institute. Moreover, the CFA institute is the grantor of the CFA certificate.

How to Apply

The MSc in International Finance has one intake per year in September.

Applications are considered based on your online application and supporting documents/references, your academic performance at secondary school and university, plus your level of English language proficiency.

The postgraduate taught course admissions process involves the following five steps:

  1. Online registration (application fee: €90)
  2. Submit your online application form to ESSCA (in English), including
    1. a copy of your degree certificate (if already awarded)
    2. degree transcripts for each year of study + official English or French translations
    3. curriculum vitae
    4. English language test score (applicants whose first language is English or who completed a university degree taught in English are not required to provide proof of their language proficiency)
  3. Your application will be considered by the course director. If your application is successful at this stage of the process, you will receive a pre-selection notification by email and be invited to attend an interview
  4. Interview (in English)
  5. Review of pre-selected applications by the postgraduate selection committee. If you have been successful with your application, you will receive an offer letter by email.

Entry to this course is competitive, so please apply early. The final deadline for receiving applications is 5th July 2021.

TUITION 2021-2022

MPAcc (ISP) tuition is charged on a per course basis. Each course is equal to one-half (0.5) credit. All students are charged the same program fee.

The MPAcc (ISP) is completed on a full-time intensive basis so you can maximize your opportunities while in Canada. Full-time students take 12 months to complete the program without co-op.

  • MPAcc (ISP) Program Fee: $44,100 CDN (subject to change).


This chart reflects the costs of being an MPAcc (ISP) candidate.

International Students, Canadian Citizens and Permanent Residents
Total tuition fees$44,100
Ancillary fee (student fees, health/dental plan and eight-month bus pass)$1,150
UHIP health coverage$720
Co-op term fees (optional)$1,550 for 4 month co-op term
Business English and Skills Transition (BEST) program$1,150
International recovery fee$750
Total estimated costs$49,420

All costs are in Canadian dollars and subject to change each year.

For a full breakdown of tuition fees, please visit the Financial & Administrative Services website. In case of any minor differences, your tuition charged on your account will be considered correct.


Living expenses and books are extra. We recommend that you budget approximately $15,000-$20,000 (CDN) per year for living expenses and books, depending on your lifestyle

Top Universities offering Masters in Finance in Canada

Given below is a table of the top universities in Canada for Masters in Finance based on the QS World University Rankings by Subject 2019: Accounting & Finance.

RankingCity NameUniversity
25TorontoUniversity of Toronto
39British ColumbiaUniversity of British Columbia
51-100QuebecMcGill University
101-150OntarioQueen’s University 
101-150QuebecUniversite de Montreal
101-150EdmontonUniversity of Alberta
101-150OntarioUniversity of Waterloo
101-150OntarioWestern University
101-150TorontoYork University
201-250QuebecConcordia University

Masters in Finance in Canada: Course Curriculum

Post-graduate degree in finance is available as MS, MA and MBA in Finance in Canada. However, each program teaches students basic concepts of financial systems within various organizations such as financial reporting, investment, and tax law. The standard curriculum structure of most finance programs is given below:-

  • Financial Analysis & Reporting:- This section comprises the learning of accounting and its related terms such as assets, liabilities, financial statements and shareholders’ equity wealth.
  • Corporate Finance:- Students are taught valuation in terms of time, debt and equity securities. It provides them an opportunity to gain insights into different organizations and their financial statements.
  • Business Communication:- This course builds up students’ both verbal and written communication skills. This is achieved by developing reports, memos, and emails and conducting lead meetings and presentations.
  • Business Taxation:- When studying MS in Finance, it is crucial that students have a thorough knowledge of the federal income tax system and know how to perform credits and debits for business expenses.
  • Investment Analysis:- By conducting analyses of portfolios’ securities, students learn about their functions and the markets they occupy.

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

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 (USD)
Application Fees75-150
Canadian Study Permit Application Fee150
Biometric Fee85
Health Insurance10,000

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 

Living Costs

The cost of living in Canada differs across various parts of the country. The basic structure of the average cost of living in Canada for international students is discussed below:-

ExpensesCosts (USD)
Books & Supplies230
Food (Per Meal)8-20
Other Related Expenses55-115


As one of the most coveted education destinations, Canada offers various kinds of financial support to international students in the form of scholarships, grants and bursaries.

  • Banting Postdoctoral Fellowships:- Canadian government offers various kinds of scholarships and fellowships to international students planning to pursue postgraduate study and will positively contribute to the country’s economic and social growth.

Amount:- $70,000 per year (taxable)

Duration: 2 Years (non-renewable)

  • NSERC Postgraduate Scholarships:- These scholarships are offered to outstanding international students undertaking courses related to natural sciences or engineering fields at a recognized university/ college.

Value:- $17,500

Duration: 12 months (non-renewable)

  • Vanier Canada Graduate Scholarships Program:- The Government of Canada founded the Vanier Canada Graduate Scholarships program to provide financial assistance to students pursuing their graduate studies in the social sciences and humanities, natural sciences and/or engineering and health.

Amount:- $50,000 per year

Duration:- 3 Years (non-renewable)

For more information related to scholarships in Canada for international students, Click Here.

Admission Process for Masters in Finance in Canada

Like most programs, the admission process for masters in finance varies from university to university. The admission process for international students is divided into two parts, eligibility criteria and admission requirements.

Eligibility Criteria for MS 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. 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 the International English Language Testing System (IELTS) or Test of English as a Foreign Language (TOEFL) for the same.
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

Master in Finance in Canada Admission Requirements

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.

Masters in Finance in Canada Admission Timeline

  • International students who are planning to take standardized tests are advised to set aside two-to-three months to prepare for the exam.
  • Generally, the results of the GMAT and GRE are announced within 5-20 days and 10-15 days respectively.
  • Each university has its own application deadlines. Graduate schools usually set their deadlines two months prior to the commencement of the semester.
  • Applicants are advised to provide themselves at least 4-6 weeks to draft a proper resume and personal essay. A substantial amount of time should be provided for securing letters of recommendation.

In case of any queries, students are encouraged to contact the school’s admission specialists.

Career Opportunities after Masters in Finance in Canada?

Pursuing masters in finance from Canada opens a large number of doors in the financial, services and industry sectors of the economy. Some of the highest paid jobs in Canada for international students along with their job descriptions are discussed below:-

Accountant:- Students who are interested in monitoring the financial health of organizations by analyzing the records can opt for this career option. The job profile particularly involves preparing taxes and recommending necessary changes to increase the company’s revenue and reduce its expenditures.

Budget Analyst:- The job of a budget analyst is to collaborate with management to create budgets. They examine and formulate the company’s budget proposals to meet state and federal demands and regulations.

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