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How to apply

Master of Financial Risk Management: how to apply and important deadlines

How to apply and important deadlines

Applications are closed for 2020 entry. To receive program updates and to be notified when applications open for 2021 sign up via the link below.

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Note: Exceptional domestic candidates may still be eligible to apply, space permitting. Please contact for more information.


You’ve reviewed what we’re looking for and you’re ready to start your application. Great! Before you do, we thought it would be helpful to detail the supplemental items required as part of the online application form, and their associated deadlines.

Application deadlines - September 2020 entry

First Round Application Deadline » November 20, 2019 
Second Round Application Deadline » February 5, 2020

Supplemental items

As part of the online application form you will be asked to submit the following documents.  Once you’ve started an application form you may also access these through your online profile, under the ‘Submit Supplemental Items’ section.

1. Official academic transcripts

We require your official transcript to be sent directly from each institution where you have attended for credit. Take a look at our transcript guide on how to do this and make sure you meet our requirements. The mailing address is contained within.


Please note that only an unofficial copy of your academic transcript to-date is required by the Application Deadline date. You may upload this copy to the Supplemental Items section of your application. Successful applicants who are granted conditional admission into the program will be asked to submit a final official copy upon graduation.

2. Course outlines for prerequisite courses

If you have completed, or are currently taking, one or more of our four prerequisite courses, a complete course outline must be uploaded for each course:

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

If you are unsure whether a course meets our prerequisite, you are still encouraged to upload an outline. We will assess each outline to determine whether the prerequisite has been met. Applicants who have not completed one or more of the above courses, will still be eligible for conditional admission into the program.

3. Resume

You will be asked to upload a copy of your resume.

4. Official confirmation of English language proficiency

If you have graduated from a non-Canadian university where the language of instruction and examination was not English, you will be asked to submit an official TOEFL or IELTS score that meets our minimum requirement:

  • 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. Full instructions on how to send out your reference requests will be detailed on the online application form.

If you wish to submit an additional work or research letter of reference, they should be mailed to the program by the referee in a signed and sealed envelope.

6. GMAT or GRE score

A GMAT or GRE score is NOT required for entry into the MFRM program. However, if you have taken either exam and wish to include your score as part of your application, please see instructions on how to do so below:

  • Include your GMAT or GRE score in the MFRM application 
  • Upload an unofficial copy of the score report to the Supplemental Items section of your application  
  • Order an official copy of the score report to be sent directly to Rotman. The test codes are: GMAT -  BTD-KS-65, GRE - 0853 

7. CFA

If you have completed Level I, II or III of the CFA Study and Examination program, you may be exempt from our prerequisite courses. More information may be found here.

Please see instructions on how to be considered for an exemption below:

  • Indicate the level of the CFA program you have obtained on the MFRM application form
  • Request that a letter is sent to us directly from the CFA Institute ( confirming the level you have obtained. The letter should be sent directly to:

Rotman's Master of Financial Risk Management

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Applications for 2020 entry are closed.

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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

  • 92% (Classes of 2017, 2018 and 2019) 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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