MA/MS in Finance at HEC Montréal in Montréal, Canada is a master's degree in Finance, Banking & Insurance programme. The programme runs for 24 months, delivered on campus. It carries 45.0 credits. Tuition for international students is CAD 35,790 per total (CAD 4,676 per total for local students).
At a glance
Degree:Master's Degree
Field:Finance, Banking & Insurance
Duration: 24 months
Delivery: On Campus
Credits: 45.0
Local tuition: CAD 4,676 / total
International tuition: CAD 35,790 / total
Information for the 2027/28 academic year · Last reviewed September 2026 ·
Program details
Overview
This 45-credit graduate program leads to a Master of Science (MSc) in finance at HEC Montreal, delivered on site at the Cote-des-Neiges campus in Montreal over 16 to 24 months, full-time or with part-time study available from the second term onward. The curriculum applies theoretical, statistical, and econometric methods to problems in portfolio management, capital markets, financial asset valuation, financial engineering, and financial econometrics, with core courses in capital market theory, corporate finance, derivatives pricing, empirical finance, and financial econometrics. Students follow one of two optional profiles: market finance, covering derivatives, fixed income, and international portfolio management, or business finance, covering corporate finance, insurance, and venture capital. Two completion pathways are offered: a thesis stream of nine courses (27 credits) plus an 18-credit thesis, or a supervised-project stream of twelve courses (36 credits) plus a 9-credit project; both require two non-credit activities, a research workshop and responsible-conduct-of-research training. The program suits students with an interest in quantitative methods and economics aiming for roles such as investment or financial analyst, risk manager, or portfolio manager.
Requirements
Minimum GPA:3.00 / 4.33
Admission Requirements: Applicants need an undergraduate degree of at least 90 credits in business administration or a related field, or an equivalent recognised by the programme administration; HEC Montréal prioritises candidates from actuarial science, economics, finance, engineering, and mathematics backgrounds. The masters admission page this programme's own page defers to sets a minimum cumulative GPA of 3.0 on a 4.3 scale for the undergraduate degree, or the higher average required for graduate admission by the granting university if that is greater. English is required at the intermediate-advanced level, met through an English-medium education or an approved test or programme; per HEC Montréal's language-requirements table this corresponds to IELTS Academic 5.5-6.5, TOEFL iBT 72-94 (4-5.5 from January 2026), or PTE Academic 50-65. Unlike several of HEC's other masters, this specialization makes an admission test (TAGE MAGE, GMAT, or GRE) compulsory before the application deadline, unless the candidate has already completed at least 45 credits of a Canadian undergraduate degree or 30 credits of a Canadian graduate degree, in which case no exemption is granted on any other basis. The application also requires two letters of recommendation, preferably from professors, and a one-page cover letter.
