Applicants must meet the following requirements:
1. A recognized four-year undergraduate degree or equivalent:
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.
Study impacted by COVID-19
Due to the disruption to academic program delivery arising from COVID-19, we want to provide more clarity to students on how decisions of Credit (CR)/No Credit (NCR) in Winter 2020 might affect their future admission to our programs. Other institutions may have equivalent versions of the University of Toronto’s CR/NCR grade. CR/NCR may therefore be equivalently defined, but not limited to, Pass/Fail, and Satisfactory/Not Satisfactory from other institutions.
The revised admission policies for our existing programs apply only to CR/NCR grades chosen in the Winter 2020 term. For CR/NCR grades chosen in other terms, the admission requirements outlined in the SGS calendar would apply.
Note: We can only provide guidance on admissions to Rotman programs and cannot advise on the need for grades in the future by other graduate programs, professional programs, or employers. Please exercise caution and consult with your academic adviser as you decide whether to opt for CR/NCR in your courses in the Winter 2020 term.
We base admissions to all our graduate program on a wide variety of criteria. We will ensure that no applicant to our graduate Master’s programs is disadvantaged in choosing a Credit (CR)/No Credit (NCR) for courses taken during the Winter 2020 term. A CR/NCR grade in an MFRM pre-requisite course would fulfill the pre-requisite requirement for admission.
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 Python is strongly preferred.
Before the program begins in September, applicants must have completed prerequisite courses in the following areas:
- Foundations of Finance
- Financial Accounting
- Financial Derivatives
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 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. CAEL CE is now accepted as well, with a 70 minimum total with at least 60 in each part.
The School of Graduate Studies will accept scores from the TOEFL iBT Special Home Edition from applicants for this application cycle until further notice.
Note: For Fall 2021 entry, we are accepting the TOEFL iBT® Special Home Edition.
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 written essay)
The application fee is $195 CAD.
7. Video Questions & Real-time Written Response
Shortlisted candidates will be asked to record a video response to two questions and complete a real-time writing exercise in order to demonstrate their professionalism and communication skills.
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 MFRM@Rotman.Utoronto.ca