Rotman School of Management, University of Toronto

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Admissions criteria

Are you the right fit?

We look for students with strong quantitative skills, a solid academic track record, and a high potential for professional achievement in risk management.

Applicants must meet the following requirements:

1. Undergraduate degree:

Minimum B average required across courses in the final year but most students admitted will have a considerably higher GPA. Business, commerce, economics, mathematics, engineering or actuarial science degrees will be preferred, but other 4-year undergraduate degrees will be considered if there is evidence of strong quantitative skills. If you studied outside of Canada, consult the School of Graduate Studies' site for GPA conversion.

2. Quantitative proficiency:

Evidence of a high level of proficiency (a GPA of at least 3.0) in quantitative subjects such as calculus, linear algebra, statistics and econometrics is required. In cases where evidence of quantitative ability is not obvious, applicants may be asked to supply a GMAT/GRE score or other supplementary evidence of quantitative ability. Knowledge of VBA is strongly preferred. 

3. Prerequisite courses:

Before the program begins in September, applicants must have completed prerequisite courses in the following areas:

  • Foundations of Finance
  • Financial Accounting
  • Financial Derivatives
  • Investments

If you have not completed courses in these areas as part of your undergraduate degree, you can obtain conditional acceptance to the program. Contact us if you have further questions after reviewing the detailed prerequisite courses information.

4. English language proficiency:

Applicants must demonstrate the ability to communicate in English in one of the following ways:

a) An undergraduate or graduate degree from a university at which the language of instruction and examination was English

b) Satisfactory performance on a standardized English Language Test. Minimum TOEFL score of 100 is required, with a minimum of 22 in both writing and speaking, or a minimum IELTS Academic Test with a score of 7.0 with at least 6.5 across all bands. 

If you have studied at an English-language university outside of Canada, official confirmation of English as the language of instruction and examination from your university will be required.

5. Two academic references:

Two recommendation forms must be completed online by your referees. While both referees should be academic, applicants who are applying to the MFRM with some work experience, are welcome to submit one academic and one professional reference. If possible, we encourage you to have at least one reference from a professor who taught you in a quantitative course.

6. On-line application (includes 1 written essay, 2 video questions and 1 real-time written response)

The application fee is $195 CAD.

7. Admissions interview

All candidates who are admitted to the program will be interviewed. Interviews are by invitation only.

If you have any questions about your application, feel free to contact our Recruitment and Admissions Officer, by telephone at 416.978.2230 or by email at

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The first application deadline is November 20, 2019.

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Key Facts


  • 10 months, full-time


  • September, one intake per year

Tuition fee (2019 entry)

  • Domestic = $39,850 CAD
  • International = $63,430 CAD 

Employment rate

  • 94% (Classes of 2017 and 2018) 6 months after graduation


  • #1 in Canada
  • #4 in North America
  • #20 in the world

QS World University Rankings: Masters in Finance Rankings 2020

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