Offered by HEC Montréal in Montréal, Canada, MA/MS in Financial Engineering 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).
This 45-credit graduate program leads to a Master of Science (MSc) in financial engineering at HEC Montreal, delivered on site at the Cote-des-Neiges campus in Montreal over 16 to 24 months, full-time or part-time. The curriculum combines mathematical and computational methods with financial theory, covering derivative pricing and valuation, fixed income securities, stochastic calculus and probability, machine learning applications to financial data, portfolio management and capital market theory, risk management, time series econometrics, and statistical methods. Students take compulsory courses in specialized finance topics and choose electives from advanced mathematics or finance offerings. Two completion pathways are available: a thesis stream of seven courses (21 credits) plus a 24-credit thesis, or a supervised-project stream of twelve courses (36 credits) plus a 9-credit supervised project, which may involve work with an outside organization. Students have access to a trading room with real-time financial data and Bloomberg and Reuters terminals. The program is intended for students with undergraduate backgrounds in business administration, actuarial science, economics, finance, engineering, mathematics, or applied sciences.
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, prioritising actuarial science, economics, finance, engineering, and pure or applied science backgrounds, or an equivalent recognised by the programme administration. The Quebec/Canadian minimum cumulative GPA is 3.0 on a 4.3 scale; French-system and other international applicants need an average of at least 12 out of 20 across all years of university study. English is required at the intermediate-advanced level, met through an English-medium education or an approved test or programme, corresponding on HEC Montréal's own table to IELTS Academic 5.5-6.5, TOEFL iBT 72-94 (4-5.5 from January 2026), or PTE Academic 50-65. No GMAT or GRE is stated for this specialization. Capacity is limited and HEC Montréal does not guarantee that every eligible applicant is accepted. The Fall term deadline is February 1 for both Canadian and international applicants; the Winter term deadline is September 15 for Canadian applicants and June 1 for international applicants. The application also requires two letters of recommendation, preferably from professors, and a one-page cover letter.
