Admission to the Master of Finance program will be based on the following criteria:

1. At minimum, a 3 year Bachelor degree from a post-secondary recognized educational institution, in any discipline.

2. At a minimum, a 3.0 admission GPA (on 4.5 scale) on the last 60 credit hours of university degree‐level study.

International students please visit international degree equivalency and international GPA calculation examples from the Faculty of Graduate Studies.

3. Results of the Graduate Management Admissions Test (GMAT), with a minimum score of 550.

The GRE will be accepted with a percentile score across its components equivalent to the current acceptable percentile level of the GMAT. The percentile score on the quantitative section of the GMAT or GRE examinations must be at the 60th percentile or higher. GMAT and GRE scores must not be older than 5 years.

Applicants who have successfully passed the Level 1 CFA exam are exempted from the GMAT/GRE score requirement.

4. Language proficiency. Applicants holding secondary school diplomas and/or university degrees from Canada, or from one of the countries on the English Language Proficiency Test Exemption list are exempt from the English Language Proficiency Test requirement. If you do not qualify for an exemption, you must provide an official score from one of these accepted tests (Score cannot be older than 2 years):

IELTS - Achieve a minimum score of 6.5 in the Academic Module, speaking band minimum of 6

TOEFL - Achieve a minimum Internet-based -iBT (86; minimum score of 20 in each of reading, writing, listening and speaking categories)

CanTEST - Achieve a minimum band of 4.5 in Listening and Reading, and a band of 4.0 in Writing and Oral Interview

MELAB - Achieve a minimum Final MELAB score of 80%

CAEL - Achieve a minimum 60 overall and 60 on each subject

AEPUCE - Achieve a minimum 65% overall

PTE Academic - minimum 61% overall

For Fall 2020 applicants ONLY, we will accept a Duo-Lingo test score of 115 or higher for the purpose of the English Language Proficiency Test score requirement.

5. Two letters of recommendation from persons who are knowledgeable about the applicant's academic ability.

Asper MFin Application Checklist

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Advantages for all University of Manitoba Graduates

University of Manitoba students may enjoy the following advantage in admission:
GMAT Exemption:
If your admission GPA is 3.25 and above AND you scored either a B+ in Corporation Finance (in the last five years) OR an average of 3.5 on your four finance major courses (FIN 3410, FIN 3480, FIN 4400 or one of the FIN 3400, FIN 3450, FIN 3460, FIN 4240, FIN 4250 - in the last five years), you are exempt from writing the GMAT.

Advantages for Asper BComm Graduates

Asper BComm graduates may enjoy the following additional advantage in admission:
Course Exemptions:
If you took Financial Modelling (FIN4240) and/or Behavioural Finance (FIN4250) in your undergraduate degree in the last five years and earned at least a B in the course(s), you will be exempted from this course(s) in the MFin, reducing your program course load to only 9-10 courses (24-27 credit hours).

Advantages for Asper MBA Graduates

Asper MBA program graduates with a non‐Finance/non-Financial Analyst specialization are eligible for a maximum of 7.5 credit hours of exemptions in the MFin.

Exemptions for Asper MBA program graduates can only be applied to: 

  • FIN 7000 (Managerial Economics)
  • FIN 7020 (Corporate Finance)
  • ACC 7010 (Accounting Fundamentals)

MBA courses considered for exemption must have been completed in the last five years with a minimum grade of C+.

Students who have graduate from the Asper MBA program with a Finance or Financial Analyst specialization within the last five years are not eligible to take this program.

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Program entry occurs in early August once annually. MARCH 1 for international student applicants. MAY 1 for domestic student applicants (including Permanent Residents).


As of April 2, 2020, ETS is pleased to announce expanded availability of at home testing for the GRE® General Test and the TOEFL iBT® test. These tests are now available in all locations where the computer-delivered tests are normally available.

As of April 14, 2020, registration is open for the GMAT Online exam, an interim alternative to the test center GMAT exam. Appointments are available for test dates as early as April 20, 2020 and extend through December 31, 2020. Graduate Management Admission Council will continue to evaluate the market and offer future appointments as needed.