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MCMASTER UNIVERSITY, HAMILTON, ONTARIO - PROGRAMS

Hamilton, OntarioLOCATION
UniversitySCHOOL TYPE
Estd 1887Established Year
  33147Enrollment

Doctor of Philosophy [Ph.D] (Finance)

 4 years
 full time
  English
 on campus
  Thesis Based

Field of Study

Offered by     DeGroote School of Business

$ 4,730 

1st Year
Fees

International Student Tution

Check Detailed Fees

Program Description

  • McMaster University offers a Doctor of Philosophy in Finance for a duration of 4 years.
  • It is an on-campus, thesis-based program offered on a full-time basis.
  • The PhD field in Finance is designed for highly-motivated and academically strong students with a solid Master’s level training in Finance, Economics, Mathematics, Physics, Engineering or related subjects who wish to pursue academic careers or research-related opportunities in the financial industry or the public sector.
  • Students are required to take one additional 700-level course in business, economics or mathematics.
  • The five Finance PhD courses are:
    • Financial Economics and Quantitative Methods
    • Financial Economics I
    • Financial Economics II
    • Empirical Methods in Finance
    • Seminar in Corporate Finance
  • PhD students undertake 2 years of course work, followed by a set of comprehensive exams. Then they work with a faculty supervisor to develop a research topic and complete a thesis.
  • The experienced research faculty within the Finance and Business Economics Area are well-equipped to supervise students working in a variety of specialties, including corporate finance, capital markets and derivatives.
  • Students must complete between 6 and 12 one-term courses.
  • Normally, course work is finished within the first two years of the program. This is followed by a comprehensive examination that is tailored to student’s field of study.
  • All DeGroote PhD students take a common seminar course, and otherwise follow the course requirements of their particular fields of study.
  • The average salary of the program goes up to 73,800 USD.

Program Highlights

Degree Type Offered Doctorate
Duration4 years
Fees$ 18,920 for 4 years
Delivery TypeFull Time
Admission Intake Fall (Deadline - Jan 01)
Language Proficiency TOEFL,IELTS,PTE
ExamsGRE,GMAT
Offered byDeGroote School of Business
Program Urlhttps://phd.degroote.mcmaster.ca/fields-of-study/finance/

Eligibility & Entry Requirement

Academic Eligibility:

  • Students have to complete master degree from a recognized university.
  • Students must have a B+ minimum average grade, based on a full-year equivalent of final year courses.

Indian Student Eligibility:

Indian students are eligible to apply if they meet one of the following eligibility criteria:

  • Completed a 4-year UG degree with first class in a relevant field from a recognized institution.
  • Or, completed a master's degree with first-class in a relevant field from a recognized institution.
  • Or, completed a 3-year UG degree from an accredited institution.

Submission of a GMAT score is mandatory with a score of 600 and a GRE score (minimum 300) is recommended to submit the scores for a better chance of admission. 

Along with the minimum eligibility requirements, international students hailing from non-English speaking countries need to prove English proficiency through IELTS/TOEFL/any equivalent test.


Required Document List

Following are the required document:

  • Online application form and fees: Students have to fill the online form and submit the application fees. 
  • CV/Resume: Outline of academic achievements and/or awards, publications, relevant work, and/or volunteer experience.
  • Two Academic or Professional References: Referees (Teachers, guidance counselors, or Professors) should comment on academics and that references should submit along with the application system.
  • Personal Statement: It should include a brief overview of themselves, strengths, and any work experience and/or education that students have.
  • Transcripts: Students have to submit transcripts from all universities/colleges attended, World Education Services Assessments, and English Language Proficiency test scores.
  • Statement of Intent: Reasons or intentions for pursuing studies in this program, including a description of prior experience.


Application Deadline

Fall
Jan 01


Scores Required

100 / 120

Avg. Score in

TOEFL

7 / 9

Avg. Score in

IELTS

60 / 90

Avg. Score in

PTE

309 / 340

Avg. Score in

GRE

600 / 800

Avg. Score in

GMAT


Fees & Funding

Tution & Application Fees

YearYear 1Year 2Year 3Year 4
Tuition fees$4730$4730$4730$4730
Total fees$4730$4730$4730$4730

Living Costs

HeadAvg Cost Per Year
Room and food (on-campus)$ 9,195
Housing (off-campus)$ 4,860

Scholarship Grants & Financial Aids

NameAmountInternational Students EligibleApplication Deadline
Ontario Trillium Scholarship $28,961 Yes N/A
Ontario Graduate Scholarship $10,847 Yes N/A
Debesh Kamal Scholarship $1,385 Yes 30 Apr, 2020
JN Tata Endowment Scholarship Variable Yes 09 Mar, 2020
Paul Foundation scholarships $20,174 Yes N/A
Forktip Women’s- Innovation Scholarship Variable Yes 30 Aug, 2020
Ontario Graduate Fellowship $8,459 Yes N/A
Ellis R. Ott Scholarship for Applied Statistics and Quality Management Variable Yes 01 Apr, 2020
Go Clean Scholarship $3,500 Yes 31 Dec, 2020
BrokerFish International student scholarship $1,000 Yes 21 Dec, 2020
Pierre Elliott Trudeau Foundation Doctoral Scholarships Variable Yes 03 Jan, 2021
Show More

VISA & Work Study

VISA

  • Students are required to get a Study Visa to study in Canada.
  • If students are traveling outside Canada will need either an Electronic Travel Authorization (ETA) or a Valid Temporary Resident Visa (TRV) to re-enter Canada.
  • The cost of the study visa is 112 USD and is valid for the length of the student’s study program, plus an extra 90 days.
  • Students need a Social Insurance Number (SIN) to work in Canad and to get the SIN, students will need to bring a passport and study visa.
  • At the time of VISA application, students need to provide various documents:
    • Application form and Study Plan
    • Valid Passport
    • Official Acceptance Letter
    • Financial Evidence

Work Study

Students need a work-Study visa to work in Canada. Full-time international students studying at a Canadian university may seek employment in Canada in 4 situations:

  • on-campus employment
  • co-ops employment
  • working off-campus
  • post-graduation work visa

The McMaster Work Program gives students opportunities to work on campus during the fall/winter terms and over the summer.

  • First-year international students are not eligible for the fall/winter work program but can apply for the summer after their first year and every year beyond.
  • International students with a valid study visa are eligible to participate in McMaster’s work programs.
  • Students can work Part-time at a maximum of 10 hours per week in the fall and winter terms.
  • Students can work Full-time of 35 hours per week and part-time over the summer.

Career and Placement after Course

Possible career oppoertunities are:

  • Portfolio Management
  • Hedging and Risk Management
  • Currency and Derivatives Trading
  • Fixed Income Analysis
  • Equity Research
  • Business Analyst
  • Finance Associate
  • Financial Analyst


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