Did you know Canada welcomed over 400,000 international students in 2020 to pursue undergraduate and graduate finance and budgeting course?
Yes, you read that right! Let's see the top 5 reasons to study finance courses in Canada.
The Canadian government places a lot of emphasis on diversity and inclusivity within the international student community. As a result, in 2019, the Canadian government launched the ‘Building on Success’ - a new International Education Strategy (IES) and has set an estimated budget of 147.9 million dollars towards this goal for the next 5-years.
Building on Success aims to diversify the educational sector to study in Canada and improve Canada’s innovation capabilities to foster ties with international economies. This strategy also aims to train students and the workforce with the necessary skills and knowledge to compete in the global economy and promote employment opportunities across communities.
This program will welcome international students to Canada and allow them to learn and experience the Canadian culture and way of life, which they can take back home or use to live in Canada. Another significant feature of this strategy is to allow Canadian citizens to return from international study or work destinations and use their international exposure and culture to enrich Canada’s relationship with other countries.
An added advantage of being an international student in Canada is that it opens pathways for permanent residence and work visas in the country is one of the top 5 reasons to study finance courses in Canada. There has been a drastic influx of students opting for Canada as their study abroad destination for various reasons including- affordable and quality education, friendly people, and multiculturalism.
When Canada opened its borders for immigration, it opened up many new business and employment opportunities, which in turn encouraged students to take up specialisation in finance and budgeting course in the field of business. One of the many sought out specialisations being- finance. The demand for finance graduates has grown exponentially in Canada as old businesses evolved and new businesses entered the market.
Here are the top 5 reasons why you should consider Canada if you’re thinking about Finance Courses.
Nothing But The Best Universities in Canada
Canadians are known for their warm, welcoming, inclusive environment and culture. The same applies to their universities. Canada welcomes students from all walks of culture and ethnicity with no bias or prejudice, and 5 of the top 100 universities globally are located in Canada and offer world-class education with it's professional courses in finance to their students.
Students who take up postgraduate finance courses in Canada learn how to plan, budget, and analyse the finances of businesses, banks, and other financial institutions. In 2017, a graduate of finance could earn an average of $103,376, and the numbers have only increased in the last couple of years. Graduates will also qualify for roles such as security analyst, market research analyst, bank manager, mortgage broker, or portfolio manager.
Canadian universities also encourage students to take up internships in their terminal semesters to gain experience and a real-time understanding of the industry. Taking up an internship while pursuing your degree also increases your chances of getting employed.
When you have decided to pursue finance courses in Canada, the next step is to do your research and list down the nitty-gritty details of the professional courses in finance, choice of university, accommodation, and other essential components.
Some of the most important factors to consider when choosing a university to study a finance and budgeting course in Canada are:
- Primary language spoken
- Type of degree
- Fees and financial aid
- The reputation of the university
- Cost of living and accommodation
- Scope and job opportunities in the chosen field of study
Choose From a Wide Range Of Finance Courses To Study in Canada
Finance is undoubtedly an integral part of everyday life. Every business emphasizes its financial management and revenue, as they are one of the driving forces behind business development and improvement. Canadian institutions offer international students many finance courses and a viable chance to learn and build a career in any professional courses in finance with world-class faculty and infrastructure.
Some of the most popular finance majors chosen by international students in Canada are:
- Master of Financial Economics (MFE) - Duration: 16 months
- MSc Finance - Duration: 16 months
- Master in International Cooperation, Finance, and Development - Duration: 1 Year
- Master of Management in Finance (MMF) - Duration: 12- 16 months
- MSc in Financial Analytics: Applied Modelling and Quantitative Methods - Duration: 12 months
Some Canadian Universities have also started offering online finance and budgeting courses for students who cannot travel to Canada for in-person classes in light of the current situation.
Your Future Is Secured, Scope And Jobs To Look Out For
Canada houses some of the best banking and finance industries, including the Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC).
During the rough period of 2008-2009, when economies were struggling globally, Canada did comparatively well. So, if you are a student looking to pursue finance courses or related fields, Canada is an ideal destination for you to settle. Canadian universities charge a very nominal fee and the living and accommodation costs are relatively affordable than any other country.
Also, did you know? Most banks in Canada are directly linked to universities, so you do not have to worry about intermediaries when applying for an educational loan to pursue professional courses in finance! The recent changes by the President of Canada have made loan policies international student-friendly. People employed in the finance or banking industry make anywhere from C$31,639 to C$71,617, depending on skill, experience, and knowledge.
Uncomplicated, Simple, Beneficial, Eligibility Criteria And Perks
Canada is a very welcoming and friendly country, they love to host international guests and citizens. To welcome more international students to do postgraduate finance courses, the Canadian government and universities have simplified the enrolment criteria. Students only need to fulfill a few basic requirements to get admitted to a Canadian university. The academic and financial requirements are as follows:
- A high school education or the acceptable equivalent for an undergraduate degree
- 3-year undergraduate degree in finance courses or related fields for a postgraduate finance courses.
- Students also need a minimum of 60% and an IELTS score of 6.8 and above to qualify.
Students also need to publish details of their finances to ensure that they can afford to live in Canada for the duration of their finance and budgeting course. Typically tuition fees plus C$10,000 for 12 months.
To get a student visa, the applicant must have an acceptance letter from a recognised University in Canada. Tuition fees cost anywhere from C$11,000 to C$47,000, depending on the student’s university and course.
As a student in a Canadian university, you will enjoy the added benefits of quicker access to jobs in Canada and Permanent residence status. Canadian universities, and the government, offer many grants and scholarships for international students to pursue their education in Canada.
Scholarships And Grants
The fees and living expenses in Canada are relatively low when compared to other countries are also one of the top 5 reasons to study finance courses in Canada. To support financially, the government also offers scholarships for deserving international students. Before applying for a university in Canada, look at the expenses and add a buffer amount. Realistically analyse how much you can afford and seek banks or organisations from your home country for loans, scholarships, and grants.
The Canadian government sets aside a sum of money for international student scholarships every year. You can log onto the government website to know what scholarships or governments are available and check your eligibility for the professional courses in finance. Canadian Scholarships include the Government of Canada International Scholarships and the Canada Student Loan program that international students can avail of on meeting the eligibility for postgraduate finance courses. The Canada student loan program for international students will incur the same interest rate as that of a permanent resident, and not all students qualify for the loan due to provincial laws.
We hope this overview of what to expect while applying for a course in finance in Canada helped you and convinced you to take a step forward towards your study abroad goals!
If you have any questions on top 5 reasons to study finance courses in Canada or would like to start your application process to one of the universities, our expert counselors can help. Click here to get in touch with us!