Frequently Asked Questions

For admission to graduate programs at McGill, the minimum Cumulative Grade Point Average (CGPA) is 3.0 out of a possible 4.0, or a Grade Point Average (GPA) of 3.2 out of 4.0 in the last two years of full-time studies.

1.1: Which quantitative skills are necessary for the MMF program?

While the MMF is not a mathematical finance program, students should have an aptitude for quantitative methods.

1.2: Do I need to have an undergraduate degree in Finance?

An undergraduate degree in Finance is not a requirement. The program is designed for students who want to start in finance and have the necessary quantitative skills. Students with undergraduate degrees in economics, sciences, and engineering are encouraged to apply.

1.3: Do I need work experience?

No prior work experience is required for this program.

1.4: Do you accept GMAT or GRE scores?

Yes we accept both scores. Please use the following institutional codes: GMAT: 58H-MN-66, GRE: 0935

1.5: Is there a minimum score for GMAT or GRE?

There is no minimum requirement. We will consider the GPA, GRE/GMAT scores and your coursework to determine your ability to handle the quantitative nature of the curriculum. In addition, your resume, essay, and letters of recommendation will also influence the decision of the admissions committee.

1.6: What are the application deadlines?

The final deadline is January 15, 2024 for international students and March 15, 2024 for Canadian citizens and permanent residents.

1.7: When does the program start?

The Master of Management in Finance (MMF) program is a 12 or 16-month program that begins at the start of the summer semester.

1.8: Is TOEFL or IELTS required?

For applicants whose mother tongue is not English and who have not completed their degree in an English speaking country, the TOEFL or IELTS is required. For the TOEFL the McGill Institution code 0935. For IELTS, please request that the scores are submitted electronically to McGill University via the IELTS Results Service. Please refer to the English language proficiency page for details on McGill minimum English requirements and to determine if you may be exempt from taking a proficiency test.

1.9: What is the admission process?

Read the admission process, MMF Checklist and submit your application on the Graduate Admission System (Summer Admission). We will review complete applications on a rolling basis after the first deadline of November 15, 2023.  Selected students will then be invited for an interview. After the interview, the admission committee will make the final decisions.

1.10: Who should I ask for references?

We recommend you get references from people who know your strengths and competencies. The references could be academic references or professional references.

1.11: Is there an interview required for the application?

Yes, selected students will be called for a phone, online or in-person interview.

1.12: If I am admitted, when do I have to respond?

You will have two weeks to accept the offer and pay non-refundable deposit of C$5,000.

1.13: If I am admitted, can I defer my admission?

Under exceptional circumstances, an applicant may defer his/her acceptance for a period no longer than one year. To apply for a deferral, the student must do so in writing, explaining the reasons for the deferral. In order to secure a space for the following year, a deferral fee is required.

All international students are required to secure the CAQ and study permit prior to starting the MMF program. Learn more

2. Program

2.1: What is the length of the Masters of Management in Finance (MMF)?

The full-time McGill MMF program is a 45-credit program that is completed in 12 or 16 months.

2.2: Is there an accelerated option in the MMF program for those who have prior background in finance?

No, there is no accelerated option. However, we will look into it on case-by-case basis for students with prior education or professional experience in finance.

2.3: What is unique about the McGill MMF Program?

The McGill MMF program gives you the opportunity to put theory into practice. Throughout the program, you will work as an analyst with Desautels Capital Management Inc., a student-run registered investment firm.

2.4: Does the MMF program help with the preparation for CFA?

The MMF program covers many topics that are required for CFA, but it is not a CFA preparatory program.

2.5: Is there an internship or thesis?

There is no internship but you work as an analyst at Desautels Capital Management throughout the program. There is an Applied Finance Project for the last semester.

3. Desautels Capital Management (DCM)

3.1: What is Desautels Capital Management Inc. (DCM)?

Desautels Capital Management is Canada’s first university-owned, student-run registered investment management firm. Established in 2009, Desautels Capital Management offers students in the Honors Investment Management (HIM) and Masters of Management in Finance (MMF) program meaningful and realistic experience in the industry. All students enrolled in these programs work for the company, managing different funds.

3.2: How is DCM different from other university-run funds?

Desautels Capital Management is a real investment company, licensed and regulated with its independent board of directors. It is 100% owned by McGill and manages the money of external accredited investors.

3.3: Do I get paid for working as an analyst at DCM?

No there is no monetary compensation for working as an analyst. DCM is an integral part of the curriculum in which students gain hands-on experience at managing external investors’ money.

3.4: How many hours would I be working for the DCM?

15 - 20 hours per week

4. Career Outlook

4.1: What type of career resources are available to the MMF students?

Career Management at the Soutar Career Centre would work with the students from Day 1 to prepare them for the job market. They would provide workshops such as resume and cover letter writing, one on one mock interviews, and networking events amongst others.

4.2: I am an international student, am I eligible to apply for a work permit after the course?

Immigration Canada allows international students to obtain a work permit equivalent to the length of the study program, up to a maximum of three years. Please visit their website for more details.

5. Tuition & Financial Aid

5.1: How much does the program cost?

The tuition is C$63,362 (2024 admission). Read more about other university fees and living expenses.

5.2: When are the fees due?

You have to pay a deposit of C$5,000 when you accept the offer. The tuition is due only after the student has registered for courses.

5.3: Are scholarships or financial aid available?

Yes, if you are one of our most outstanding candidates, you can be awarded one of our growing portfolio of scholarships. Specifically, MMF students are granted Desautels MMF Entrance Awards and other donor supported awards based on their academic merit and leadership skills. Every student is considered for these awards upon acceptance to the program.

5.4: I was awarded an entrance award/fellowship from the Desautels Faculty of Management, when will I receive the funds?

For students who have received an award/fellowship, the funds are transferred to their student account partly by the end of August and the rest by end of January.

6. International students

All international students are required to secure the CAQ and study permit to prior to starting the MBA program. Visit International Student Services for information regarding how to obtain these documents.

Immigration Canada allows international students to obtain a work permit for up to 3 years after graduation from a 2 year MBA program. Visit Immigration Canada for more details.

All international students are responsible for maintaining valid immigration documents and legal status throughout the duration of their program of studies.

6.1: What are the new procedures in place for International students applying to McGill University?

In January 2024, the government (IRCC) issued immigration updates with new measures for incoming Masters and PhD students. Find more information on the International Student Services page.

Proof of financial capacity

• Effective January 1, IRCC has increased the minimum amount of financial capacity students must demonstrate when applying for a study permit. This new minimum does not apply to Quebec. To study in Quebec, applicants must prove they meet the financial requirements outlined by the ministère de l’Immigration, de la Francisation et de l’Intégration (MIFI).
• As per MIFI, the minimum amount required for a student without dependents includes tuition, transportation (round trip from country of origin), settlement fees, health insurance and living expenses of $15,078 per year. This amount is normally adjusted every year.
• ISS has updated this information on their website (please see the yellow box on top of the page).

International student caps

• On January 22, the federal government announced new caps to the number of study permits to be issued in 2024. These caps do not apply to master’s and PhD programs.

Post-Graduate Work Permit

• The January 22 announcement also included the following:

• Graduates of master’s and other short graduate-level programs will soon be eligible to apply for a 3-year work permit. Under current criteria, the length of a post­graduation work permit is based solely on the length of an individual’s study program, hindering master’s graduates by limiting the amount of time they have to gain work experience and potentially transition to permanent residence.

Letter of acceptance verification process

• Since December 1, 2023, post-secondary designated learning institutions have been required to confirm every letter of acceptance submitted by an applicant outside Canada directly with IRCC. This enhanced verification process protects prospective students from fraud and ensures that study permits are issued based only on genuine letters of acceptance.
• Institutions have 10 calendar days to validate the letter of acceptance.
• At McGill, the verification process is coordinated through Enrolment Services.

6.2: Where can we obtain the most up-to-date information on policies instituted by the Canadian Government?

In an effort to provide all students with the most up-to-date information, our International Student Services office has created a COVID-19 resource page with important links. For all updates, please refer to McGill’s Covid-19 Immigration Resources.