A premier finance programme at Canada's top university, delivered by the Rotman School of Management. Covers quantitative finance, risk management, and fintech — with direct access to Toronto's financial district.
16 months
Full-time duration
CA$95,410
Tuition (total, intl.)
Aug 2026
Next intake
IELTS 7.0
English requirement
Overview
✓ Study at Canada's #1 university and the world's #21 (QS 2026)
✓ Toronto is Canada's financial capital — Bay Street is steps from campus
✓ Qualify for a 3-year PGWP — open work permit, pathway to PR
The Rotman MFin gives you deep expertise in quantitative finance, portfolio management, derivatives, risk, and fintech — with a capstone project and direct access to Toronto's financial institutions for networking and recruitment.
Graduates enter roles in investment banking, asset management, corporate finance, and fintech across Bay Street and beyond — with the 3-year PGWP providing a clear pathway to Canadian permanent residency.
Bachelor's with strong quantitative background (GPA 3.3+)
GMAT / GRE
GMAT 680+ recommended (or GRE equivalent)
English
IELTS 7.0 (no band below 6.5) or TOEFL 100
Documents
Transcripts, GMAT, SOP, two references, passport
What you'll study
Core modules
01 Financial Economics
02 Corporate Finance
03 Derivatives & Risk Management
04 Financial Econometrics
05 Fintech & Innovation
06 Applied Finance Capstone
After you graduate
Career outcomes
CA$85,000
Median starting salary
3-year PGWP
Open work permit — pathway to PR
94%
Employed within 3 months
Top employers
RBC, TD Bank, CPPIB, McKinsey
How to apply
Application timeline
June – October 2025
Prepare your application
Take the GMAT/GRE, gather transcripts, write your SOP, and secure two references. Your counsellor reviews everything free of charge.
November 2025 (R1) / January 2026 (R2) / March 2026 (R3)
Submit via Rotman portal
Rotman MFin has three application rounds. Round 1 gives the best scholarship consideration. Your counsellor manages the submission.
4–6 weeks after submission
Interview & decision
Selected candidates are invited for an interview (video or in-person). Decisions and scholarship offers follow within 2–4 weeks.
April – July 2026
Accept & study permit
Accept your offer, pay your deposit (CA$5,000), receive your LOA, apply for your Canadian study permit, and provide biometrics.
August 2026
Orientation & start
Arrive in Toronto for MFin orientation — networking, career prep, and cohort bonding — then begin your first semester at Rotman.
Fees & funding
Tuition fees & costs
Tuition (international)
Total programme (16 months)
CA$95,410
Deposit
Required before LOA/visa
CA$5,000
Study permit fee
IRCC application
CA$150
Biometrics fee
One-time
CA$85
Scholarships
Funding you may be eligible for
Rotman MFin Merit Scholarship
University of Toronto · Merit-based
CA$5,000–$10,000
Coverage: Tuition fee reduction
Eligibility: International MFin candidates with strong GMAT + academics
Duration: Full programme
Deadline: Round 1 applicants get best consideration
Source: rotman.utoronto.ca, 2026
Ontario Graduate Scholarship (OGS)
Ontario Government · Merit-based
CA$15,000
Coverage: CA$5,000/term × 3 terms
Eligibility: International graduate students at Ontario universities
Duration: 1 year
Deadline: Varies — your counsellor tracks deadlines
Source: osap.gov.on.ca, 2026
Government Scholarships (home country)
Saudi SACM, Kuwaiti MOHE, etc.
Full award
Coverage: Tuition + living expenses + flights
Eligibility: Varies by country — finance/business often eligible
Duration: Full programme
Deadline: Varies — your counsellor checks eligibility
Loans & financing
Alternative funding options
Prodigy Finance
International student loan · No cosigner · Up to $100,000
Designed for international students at top-ranked programmes. Rotman MFin is an eligible programme. No cosigner or Canadian credit history required.
Work during & after studies
Study permit holders · Up to 24 hrs/week + co-op
Work up to 24 hrs/week off-campus during term and full-time during breaks. The MFin includes a summer internship component — average finance internship salary in Toronto: CA$30,000–$40,000 for 3–4 months.
Living costs
Monthly budget in Toronto
Toronto is Canada's most expensive city — but still significantly cheaper than New York, London, or Sydney. Sharing accommodation is standard for graduate students.
Rent (shared apartment)CA$1,000–$1,500
Food & groceriesCA$300–$500
Transport (TTC pass)CA$128
Health insurance (UHIP)CA$75
Books & suppliesCA$50–$100
Personal & leisureCA$200–$400
Estimated totalCA$1,753–$2,703/month
IRCC financial proof: CA$20,635/year (or CA$1,720/month) in living expenses in addition to tuition — via bank statements or GIC.
Study permit
Canadian study permit requirements
Permit type
Canadian Study Permit
LOA required
Letter of Acceptance from U of T (DLI)
Application fee
CA$150
Biometrics fee
CA$85
Financial proof
Tuition + CA$20,635/year living (or GIC CA$20,635)
Post-graduation (PGWP)
3-year open work permit — pathway to Express Entry PR
Student stories
Hear from our students
"The Rotman MFin opened doors I didn't think possible — I interned at RBC Capital Markets during the summer and received a full-time offer before my last semester. Being steps from Bay Street makes all the difference for networking."
MH
Marwan H.
Master of Finance, U of T Rotman — Class of 2026 · 🇪🇬 Egypt
"Canada's PGWP is the biggest advantage — 3 years to work with no restrictions, and it counts toward permanent residency. My counsellor helped me with GMAT prep, the application, and a CA$8,000 scholarship I didn't know existed."
RS
Rana S.
Master of Finance, U of T Rotman — Class of 2025 · 🇸🇦 Saudi Arabia
FAQ
Frequently asked questions
Do I need the GMAT for this programme?
Yes — Rotman requires the GMAT or GRE for the MFin. A score of 680+ is competitive. Your counsellor provides GMAT prep guidance and advises on the optimal score target for your profile.
What is the PGWP and can I get permanent residency?
The Post-Graduation Work Permit lets you work in any job in Canada for up to 3 years after completing a programme of 2+ years (Rotman's 16-month MFin qualifies for a PGWP matching the programme length). Canadian work experience earned on PGWP counts toward permanent residency through Express Entry — one of the fastest PR pathways in the world.
Is there an internship component?
Yes. The MFin includes a summer internship between the first and second terms. Most students intern at Bay Street firms — RBC, TD, BMO, CIBC — with average compensation of CA$30,000–$40,000 for 3–4 months. Many full-time offers come from internships.
How does this compare to an MBA?
The MFin is a specialised programme for careers specifically in finance — deeper quantitative training, more CFA-aligned content, and shorter duration. An MBA is broader (strategy, marketing, leadership) and suits those wanting management roles across industries. If you want Wall Street/Bay Street, MFin is the direct route.
What is a GIC and do I need one?
A Guaranteed Investment Certificate (GIC) is a CA$20,635 deposit at a Canadian bank that proves you can support yourself. It's an alternative to showing bank statements for your study permit. The money is released monthly during your first year. Your counsellor helps you set one up.
