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Let us help you navigate the admissions process. If you don’t see what you’re looking for, contact us. We’re here to support you in your MFin journey.
Application Requirements (Fall 2024)
Our admission requirements for the Master of Finance (MFin) program are listed below. Meeting the minimum admission requirements does not guarantee admission, as we have limited space each year. Our Admission Committee takes a holistic approach during the application review process and all components of the application are given a thoughtful and thorough review.
- Honours (4-year) bachelor’s degree or equivalent in any discipline with a minimum B+ average (equivalent to a McMaster GPA of 8.5) from an accredited university.
- Preference of a minimum of one university-level course in each of 1) Finance or Economics, 2) Mathematics and 3) Statistics. The normal expectation is that these courses have been completed within the last five years.
- Minimum GMAT score of 600. In place of GMAT, we will accept GRE scores with a minimum of 50% in the quantitative reasoning section. GMAT and GRE tests are valid for 5 years from the test date.
- Resume/CV.
- Two reference letters: At least one letter of reference from an academic source, the other letter of reference may be professional.
- Interview: More details to follow.
- English Language Proficiency (ELP)
- You must provide a valid TOEFL (minimum score of 92) or IELTS (minimum score of 6.5) test to prove you are proficient in the English language. TOEFL and IELTS scores are valid for 2 years from the test date.
- You are exempt from submitting an IELTS or TOEFL test if you have attended, in full-time academic studies (non-ESL), an accredited university for your entire undergraduate degree where English was the language of instruction.
- If the university is located outside of North America, a clear statement on your transcript or a letter from the institution confirming the language of instruction is English must be included when you submit your application.
- Applicants who attended a university in North America may be asked to provide proof of English Language Proficiency if we are unable to confirm the university’s language of instruction or if we find that the university has more than one language of instruction.
Please note that our program does not require work experience.
You do not need to submit a Personal Statement of Interest or a Writing Sample.
Commonly Asked Questions
Can’t find what you’re looking for? Take a look at our commonly asked questions. If you still can’t find an answer, feel free to email us at mfininfo@mcmaster.ca.
I do not have an undergraduate degree in business. Can I still apply?
Yes! We do not require that applicants have an undergraduate background in business. Students with 4-year honours degrees in Business, Computer Science, Economics, Mathematics, Engineering and Actuarial Science are encouraged to apply.
Please note that we prefer a minimum of one university level course in each of: 1) Finance or Economics, 2) Mathematics and 3) Statistics. If you have never taken these courses in your undergraduate studies, you may take them through an accredited university (online or in-class) part-time and then submit your transcript showing the successful completion of the courses with your application.
I have a 3-year degree, am I still eligible to apply for the MFin program?
We understand that the education system is structured differently in some countries. Since our Admissions Committee takes a holistic approach when reviewing applications, we encourage you to submit your application for review if you feel that it is competitive. If not, then you should consider taking supplemental degrees through accredited universities to strengthen your application.
I have not taken the preferred courses within the last five years. Can I still apply?
While we normally expect these courses to be completed in the last five years, we will consider courses taken earlier along with other academic information submitted by you.
If you have never taken any of the preferred courses, you may take them through an accredited university (online or in class) part-time, and then submit your transcript showing the successful completion of the courses with your application.
Please note that we will not accept Coursera courses. These courses must be University level courses from an accredited school that are graded.
Our Master of Finance program is a highly intensive program with a heavy focus on Math, and as such we need to ensure that applicants have sufficient background knowledge in this area in order to be successful in the program.
What is a B+ equivalent to?
A B+ is equivalent to a McMaster GPA of 8.5, or a percent grade of 75-79%.
Can I have a pre-assessment on my application? Am I eligible for your program?
Although we appreciate your inquiry, we are unable to provide pre-assessment reviews on potential Master of Finance applications due to a high volume of inquiries.
If you feel that you meet or exceed our program requirements, we would welcome an application from you to join our next cohort.
Is it enough to enter my test scores in my application or do I need to submit any documents?
Along with entering your test scores (IELTS/TOEFL/GRE/GMAT), please include a copy of your test report with your application.
Do I have to release my test scores at the time of the application?
You are welcome to wait to release the scores until you receive an update from us about your application status, but it’s highly recommended that you release them ASAP.
The results can be released as follows:
- GMAT Scores: Release to McMaster University – Institution # 0936 and the DeGroote School of Business Master of Finance Program – Program Code #0D1-LC-57.
- GRE Scores: Release to McMaster University – Institution # 0936 and the DeGroote School of Business Master of Finance Program
- TOEFL scores: Release to McMaster University – Institution # 0936.
- IELTS scores: No need to release the scores. Just make sure that your TRF (Test Report Form) number is legible in your uploaded document.
Is the highest GMAT score used in admissions, or is it an average of all attempts?
The highest GMAT score is used in admissions.
What is the GMAT? Why is it required?
The GMAT is a standardized testing tool widely used for Graduate Admissions. It tests students on their analytical writing, integrated reasoning, verbal reasoning, and quantitative reasoning.
I have taken courses at a different university than my own. Do I need to submit the transcript for these courses?
Yes, you will need to report all of the post-secondary education you have completed and upload all of the relevant transcripts. This includes any transfer credits, exchange programs, summer courses, etc. We will need to review your entire educational history when assessing your application.
My referee has not completed the reference despite their reminders. What should I do?
If your chosen referee has not completed the reference, we encourage you to consider adding a different referee who will be able to complete the reference as soon as possible. Through your application status, you can exclude your current referee and then add a different one.
My referee did not receive the email notification. What should I do?
If your referee did not receive the notification, you may send them a reminder through your application status. If the problem persists then please email us at mfininfo@mcmaster.ca to let us know.
Is it enough to enter my test scores in my application or do I need to submit any documents?
Along with entering your test scores (IELTS/TOEFL/GRE/GMAT), please include a copy of your test report with your application.
What is the process for referees?
Your referees will be automatically notified when you add their name and contact information into your application. When the reference is received, it will be check-marked in your application status.
Do I need to submit official transcripts with my application, or will unofficial transcripts suffice?
You do not need to submit official copies of your transcripts with your application, we will accept unofficial copies. Your unofficial transcript must clearly state the University name, include the grading scale, as well as show your full name.
We only require official transcripts once an offer of admission has been extended to you, at which point you will be required to have them submitted to us directly from the institution.
Is a personal statement of interest required?
No. Our Master of Finance program does not require a personal statement of interest.
My circumstances have changed and I’m no longer able to join the program. Is my deposit refundable?
No, the deposit is non-refundable.
Is the application fee refundable?
No, the application fee is non-refundable.
How much is your program?
Our current fees are outlined on our Fees and Funding page.
Over the course of the 16-month program, you are only charged for three academic terms. You are not charged for the summer term as you are on an official scheduled break during this time.
All students are also required to pay a supplemental fee for each academic year. Given that this program is 16 months and spans over two academic years, supplemental fees for both academic years are required.
How do I apply for scholarships?
There is no application required for entrance scholarships. If your application is successful you will automatically be considered for an entrance scholarship.
Are there any scholarships available to students?
Entrance scholarships may be awarded to both domestic and international applicants and are considered on a competitive basis based on the students’ academic performance, extra-curricular activities/experiences, and other criteria the MFIN Admission Committee considers to be essential for the program.
Additional scholarship opportunities can be found on the Office of the Registrar’s webpage.
I have submitted my application online – what should I do now?
A few business days after you have submitted your application, you will receive an email from our Program Office confirming the receipt of your application and how to monitor its status. Please make sure you keep an eye on your emails in case our Program Office has any questions about the material you have submitted.
When will I receive an update on the decision of my application?
Complete applications will have a result in approximately 2-3 months.
Do I need to mail in hard copies of official documents?
You do not need to mail us hard copies of your documents as part of your application. Scanned documents are used for the assessment of your application.
Will I be contacted if there is an issue with my submitted application?
Reviewing applications and their components is a manual process and not done immediately after submission. However, if there is an issue with any of the application components, we will contact you at the email you provided on your application.
