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MBA Finance in Canada without GMAT is available in around 10 colleges and universities. It is one of the most popular MBA streams and usually lasts between 12 to 24 months. MBA Finance in Canada can be competitive with the requirements of high undergraduate GPA, GMAT or other standardised scores. Most of the Canadian universities require GMAT scores for admission in MBA in Finance in Canada, there are some universities that offer admission without GMAT.
Some of the top universities to pursue MBA finance in Canada without GMAT include Queen's University, McGill University, University of Alberta and University of Canada West. These universities require an average GPA of 3.0 along with an average work experience of 2-3 years and other additional documents like Statement of Purpose, Letter of Recommendation, Resume, etc.
Also Read:
| MBA in Canada without GMAT | MBA in Canada without work experience | Cost of MBA in Canada for Indian Students |
MBA Finance in Canada without GMAT: Top Universities
| Universities | Program Offered | Application Deadline | Fees (CAD) |
|---|---|---|---|
| Smith School of Business, Queen’s University | Full-time MBA in Finance | September 1, 2023 (closed) | 105,100 |
| York University | Full-time MBA in Finance | January 17, 2024 | 117,850 |
| New York Institute of Technology, Vancouver | Finance MBA | December 31, 2023 | 36,607 |
| HEC Montreal | MS in Finance | February 15, 2024 | 23,800 |
| McGill University | Master of Management in Finance | January 15, 2024 | 63,345 |
| Concordia University | MS in Finance | February 1, 2024 | 51,630 |
| Wilfrid Laurier University | Master of Finance | March 30, 2024 | 49,913 |
| University of Canada West | MBA in Finance | February 16, 2024 | 40,635 |
| University of Alberta | MBA in Finance | March 1, 2024 | 70,000 |
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MBA Finance in Canada without GMAT Requirements
Most of the business schools in Canada focus on high academic GPA, work experience, GRE, scores and some additional requirements while reviewing applications for MBA admissions. While some universities have waived GMAT requirements for the term starting 2023-24, there are other institutes that require higher GPA scores or alternate test scores as a GMAT waiver.
Admission requirements for MBA Finance in Canada without GMAT for international students:
- A 3 or 4 years of bachelor’s degree in a related field
- A GPA equal to or greater than 3.0
- Professional world experience of 2 to 5 years
- Statement of purpose/Letter of intent
- Essay
- Letter of Reference
- Cover letter
- CV or Resume
- Average IELTS Score- 6.5
Queen’s University
Queen's University offers a 12-month MBA program through Smith School of Business. The program is offered in six different specialisations other than finance. In the MBA Finance class of 2022, around 96% of the MBA graduates accepted an offer before graduation while 99% of try graduates are employed within six months of graduation.
| Category | Minimum Requirements |
|---|---|
| Qualification | Official transcripts evaluated by WES |
| Average GPA | 3.0 or above |
| GMAT/GRE Score | GMAT: 600 | GRE: 315 |
| English language Proficiency Score | IELTS: 7 | TOEFL-IBT: 100 |
| Work Experience | 2 years required |
| Additional Requirements | Cover letter, Two Professional References, three essay questions, interview |
York University
York University offers an MBA program through Schulich School Business in more than 18 specialisations. Currently it is the number one ranked degree program in Canada by Forbes, The Economist, and CNN expansion research. 89% of York's MBA Graduates secure jobs within 3 months of their graduation.
| Category | Minimum Requirements |
|---|---|
| Qualification | A Bachelor's degree with a minimum B average or three-year degree with at least one year of work experience. |
| Average GPA | 3.0 |
| GMAT/GRE Score | GMAT: 550 | GRE: 309 |
| English language Proficiency Score | IELTS: 7 | TOEFL-IBT: 100 |
| Work Experience | 2 years required |
| Additional Requirements | Written Samples including 2 written essay, 1 timed written essay, 2 video, two references, and resume |
New York Institute of Technology
The New York Institute of Technology’s Vancouver campus offers an MBA program in management and finance. The program also allows students to start their first-year in Vancouver and complete the second year in New York City. The admission to NYIT’s MBA program is offered in summer, fall and spring semesters.
| Category | Minimum Requirements |
|---|---|
| Qualification | Four-year bachelor’s degree in a relevant field |
| Average GPA | 3.0 |
| GMAT/GRE Score | GMAT: 550 | GRE: 300 |
| English language Proficiency Score | IELTS: 6.5 | TOEFL-IBT: 88 |
| Work Experience | Not required |
| Additional Requirements | Not required |
HEC Montreal
HEC Montreal offers a Master of Science in finance for those seeking a career as a financial analyst or adviser. Coming to the placements, HEC Montreal’s MSc in finance has a 98% employment rate. This program can also be pursued in the French language.
| Category | Minimum Requirements |
|---|---|
| Qualification | A university degree in relevant field |
| Average GPA | 2.0 |
| GMAT/GRE Score | GMAT: 630 | GRE: equivalent to GMAT | TAGE MAGE: 300 |
| English language Proficiency Score | IELTS: 7 - 7.5 | TOEFL-IBT: 95-114 |
| Work Experience | 3 years |
| Additional Requirements | Updated Resume/CV, Two LORs, Official Transcripts |
McGill University
The Master of Management in Finance at Mcgill University ranks #2 in North America and #25 globally for Masters in Finance, and is especially designed for students with exceptional academic backgrounds and are willing to make a career in finance. The Master of Management in Finance at Mcgill University helps students to develop quantitative skills and also allows prospective candidates to apply during the final year of their bachelor’s degree.
| Category | Minimum Requirements |
|---|---|
| Qualification | Undergraduate degree in relevant field |
| Average GPA | 3.3 |
| GMAT/GRE Score | GMAT: 670 | GRE: GMAT equivalent |
| English language Proficiency Score | IELTS: 6.5 |
| Work Experience | Not Required |
| Additional Requirements | Curriculum vitae, essay in 500 words, letters of reference, |
Concordia University
Concordia University offers a research based M.Sc in finance at John Molson School of Business. Concordia’s M.Sc program contains both theoretical and thesis and requires a completion of 45 credits at the end of the program. The program can be completed in 2 years on full-time basis and 3 to 4 years on part-time basis. International students can only apply for full-time MBA where they are required to complete most coursework in the first half and thesis in the second half.
| Category | Minimum Requirements |
|---|---|
| Qualification | Bachelor’s degree in commerce or related field |
| Average GPA | 3.0 on the scale of 4.33 or 3.5 for GMAT waiver |
| GMAT/GRE Score | GMAT: 580 |
| English language Proficiency Score | IELTS: 7 | TOEFL-IBT: 95 |
| Work Experience | Not required |
| Additional Requirements | CV/resume, statement of purpose, two letters of reference |
Wilfrid Laurier University
Wilfrid Laurier University offers a 12 month full-time Master's in finance at Waterloo, Ontario. With the help of this program, the students will learn finance theories as per the current issues that are affecting the financial markets. The option is a 20 month full-time master of finance including 4 months of co-op training. The co-op option is only available to those with less than three years of work experience.
| Category | Minimum Requirements |
|---|---|
| Qualification | 4 year honours degree in business, economics or relevant discipline with finance concentration |
| Average GPA | 3.3 in last 2 years of undergraduate degree |
| GMAT/GRE Score | GMAT: 650 | GRE: equivalent of GMAT |
| English language Proficiency Score | IELTS: 7 | TOEFL-IBT: 100 |
| Work Experience | 1 year required |
| Additional Requirements | One academic and one professional reference |
University of Canada West
The two year full-time MBA at University of Canada West is accredited by NCMA and ACBSP. According to the employment data, around 96.9% graduates have secured a job within 6 months of graduation or are enrolled in higher studies within one year of completing MBA.
| Category | Minimum Requirements |
|---|---|
| Qualification | Bachelor's degree from recognised institute in business administration, or commerce |
| Average GPA | 3.0 on the scale of 4.33 |
| GMAT/GRE Score | GMAT: 600-650 | GRE: equivalent of GMAT |
| English language Proficiency Score | IELTS: 6.5 |
| Work Experience | 3 years of professional experience |
| Additional Requirements | Not required |
University of Alberta
University of Alberta offers MBA with 4 specialisations alongside finance. During this program, all students will be required to complete a 4 month internship program during the first and second year of their study. After completion of MBA in finance at University of Alberta, the graduates may secure jobs in the finance division of private or public companies, corporate and investment banking, private equity, and many more.
| Category | Minimum Requirements |
|---|---|
| Qualification | Undergraduate degree |
| Average GPA | 3.0 |
| GMAT/GRE Score | GMAT: 550 | GRE: 50th percentile |
| English language Proficiency Score | IELTS: 7.0 | TOEFL-IBT: 100 |
| Work Experience | 2 years |
| Additional Requirements | Two letters of reference, statement of intent, interview |
Explore the Option of MBA in Canada without GMAT
MBA Finance in Canada without GMAT Fees
| Universities | Fees (CAD) | Fees (INR) |
|---|---|---|
| Smith School of Business, Queen’s University | 105,100 | 63.7 lakhs |
| York University | 117,850 | 71.5 lakhs |
| New York Institute of Technology, Vancouver | 36,607 | 22.2 lakhs |
| HEC Montreal | 23,800 | 14.4 lakhs |
| McGill University | 63,345 | 38.4 lakhs |
| Concordia University | 51,630 | 31.3 lakhs |
| Wilfrid Laurier University | 49,913 | 30.2 lakhs |
| University of Canada West | 40,635 | 24.6 lakhs |
| University of Alberta | 70,000 | 42.4 lakhs |
Scope of MBA Finance in Canada without GMAT
According to recent reports, over 95% of MBA Finance graduates in Canada find work within three months of graduation. In Canada, an MBA Finance graduate earns an annual salary of 81,000 CAD (49 lakhs INR). Cognizant, one of the top recruiters in this field, offers an annual salary of up to 116,627 CAD (70 lakhs INR). KPMG and Scotiabank are the other two high-paying recruiters, with average annual salaries of 90,000 CAD (54 lakhs INR) and 74,000 CAD (44 lakhs INR), respectively. Some popular job roles in Canada for MBA in Finance graduates are as follows:
| Job Role | Average Salary (CAD) | Average Salary (INR) |
|---|---|---|
| Financial Analyst | 63,510 | 38.5 lakhs |
| Accountant | 56,617 | 34.3 lakhs |
| Finance Manager | 90,190 | 54.7 lakhs |
| Finance Director | 114,944 | 69.7 lakhs |
| Chief Financial Officer (CFO) | 137,806 | 83.6 lakhs |
| Management Consultant | 92,455 | 56 lakhs |
| Senior Accountant | 70,460 | 42.7 lakhs |
| Vice President, Finance | 133,088 | 80.7 lakhs |
| Accounting Manager | 80,236 | 48.6 lakhs |
| Financial Controller | 86,903 | 52.7 lakhs |
| Finance Associate | 74,393 | 45.1 lakhs |
Even if the university does not ask for GMAT scores, the applicant must have a strong academic background including high GPA in bachelor’s, proof of work experience and have met other additional requirements to be eligible for admission in MBA Finance in Canada without GMAT. Some universities in Canada may offer conditional admission for those who could not submit GMAT scores while others may ask for a GPA above 3.5 to waive GMAT requirements.
FAQs
Ques. Do you need GMAT for MBA Finance in Canada?
Ans. Yes, the majority of the top universities for MBA Finance in Canada require you to submit GMAT/GRE scores for admission. However, you can also pursue MBA Finance in Canada without GMAT if you meet the eligibility criteria of respective universities.
Ques. Can I do MBA in Finance in Canada without GMAT?
Ans. Yes, you can pursue MBA Finance in Canada without GMAT in various top universities such as McGill University, York University, and University of Alberta. These universities provide GMAT waivers to eligible students.
Ques. How Can I get into MBA Finance in Canada without GMAT?
Ans. Admission requirements for MBA in Canada without GMAT scores: A 3 or 4 years of bachelor’s degree in a related field A GPA equal to or greater than 3.0 Professional world experience of 2 to 5 years Statement of purpose/Letter of intent Essay Letter of Reference Cover letter CV or Resume Average IELTS Score- 6.5
Ques. How much does it cost to do MBA Finance in Canada without GMAT?
Ans. The tuition fee of some of the top universities for MBA Finance in Canada without GMAT ranges from 36,000 to 105,000 CAD (21 lakhs to 63 lakhs INR)
Ques. What can i do after MBA Finance in Canada without GMAT?
Ans. Some popular job roles in Canada for MBA in Finance graduates are as follows: Financial Analyst Finance Manager Project Manager Management Consultant Business Analyst Financial Controller Accounting Manager
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