HEC Montreal MSc in Finance: Detailed Overview

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Introduction to HEC Montreal MSc in Finance

HEC Montreal’s Master of Science in Finance equips you with the skills and knowledge to excel in the dynamic world of finance. Gain a comprehensive understanding of financial markets, corporate finance, risk management, and quantitative methods. Participate in the prestigious NBI Fund, where you’ll manage a real $5 million portfolio, and take advantage of international exchange opportunities through the QTEM network. This rigorous program boasts a near 100% placement rate, preparing you for a successful career in finance.

Why Study HEC Montreal MSc in Finance?


QS Ranking

  • Application of advanced theoretical knowledge, statistical and econometric methods to solve concrete and current problems in finance.
  • Acquisition of portfolio management analysis and business diagnosis techniques.
  • Utilization of financial concepts (capital markets, financial asset valuation models) and applied mathematics (financial engineering, financial econometrics).
  • Development of skills for making recommendations in the field of market finance or corporate finance.
  • Research groups and chairs renowned in Canada and abroad
  • French language courses and the Experience Quebec course can help international students integrate into the Quebec and Canadian job markets. This pathway is offered to most students who choose the supervised project stream.

Program Costs + Living Expenses: HEC Montreal MSc in Finance


Avg. Cost of Tuition/Quarter



Avg. Living Cost


Avg. Cost of Study

CategoryEstimated Cost (USD)
Accommodation$8,400 – $12,600
Food$4,200 – $6,300
Transportation$1,200 – $1,800
Utilities (including internet)$900 – $1,500
Miscellaneous expenses (books, clothing, entertainment)$3,600 – $5,400
Health Insurance (optional)

$1,200 – $1,800

Total: $19,500 – $28,600

Employment Prospects: HEC Montreal MSc in Finance


Employment Rate

    Most Sought-after Jobs

Business intelligence analyst

Financial analyst

Investment analyst

Market parameters analyst

Risk manager

Factors Contributing to Strong Employment Prospects:

  • Reputation of HEC Montréal: Ranked among the top business schools globally, HEC Montréal’s reputation attracts top employers.
  • Curriculum: The program provides students with the skills and knowledge necessary to succeed in the financial industry.
  • Network: Students benefit from access to HEC Montréal’s extensive alumni network.
  • Career Services: HEC Montréal provides comprehensive career support to its students.

Eligibility Criteria for HEC Montreal MSc in Finance

  • You must hold a university degree recognized by the State giving access to a master’s program at your original university.

    Note that a baccalaureate or bachelor’s degree including a technological diploma (BTS, DTS or DUT) is not eligible.

  • You have obtained, for all years of university, an average of at least 12 out of 20 or the minimum GPA required by the University of origin for an admission into a graduate program.
  • Successfully pass one of the following admission tests before the application deadline for the program. Some tests are offered online.

    Admission tests are mandatory unless, at the time of your application, you have successfully completed at least 45 undergraduate credits in Canada or at least 30 graduate credits in Canada. No exemption is granted on any other basis than studies done in Canada.

Documents required: HEC Montreal MSc in Finance

  • Application form: Completed online application form.
  • Application fee: $100 CAD (non-refundable)
  • Official transcripts: Official transcripts from all previous post-secondary institutions attended, including those not completed. Transcripts must be translated into English or French if not already in one of these languages.
  • Curriculum vitae (CV): Up-to-date CV or resume highlighting your academic and professional experience.
  • Statement of purpose: A one-page statement of purpose outlining your reasons for pursuing the Master of Science in Finance program, your career goals, and how this program will help you achieve them.
  • Two letters of recommendation: Two letters of recommendation from academic or professional referees who can speak to your suitability for the program.

Scholarships Available: HEC Montreal MSc in Finance

Every year, HEC Montréal allocates approximately $1.6 million in scholarships and other awards to M.Sc. students, providing significant financial support for their studies.

Entrance Scholarships:

  • Award Range: $2,000 to $4,000
  • Criteria: Top candidates admitted to the MSc in Administration program based on their academic record at the time of admission.
  • Application Process: No application is required; successful candidates will be notified by e-mail.
  • Additional Benefit for International Students: International students who have never studied in Canada may receive a differential tuition fee exemption scholarship for the first term in addition to the entrance scholarship.

Research Scholarships (Granting Agencies):

  • Federal and Quebec Government Granting Agencies:
    • Scholarship Amounts: $15,000 and $17,500
    • Eligibility Criteria: Excellent academic average; students pursuing Master’s level studies.
    • Application Process: Apply through federal and Quebec government granting agencies.

Differential Tuition Fee Exemption Scholarships:

  • Quebec Government Agreements:
    • Overview: The Quebec government has agreements with approximately forty countries and various organizations.
    • Exemption Type: Students coming to study in the province are exempted from paying differential tuition fees.
    • Quota: Quota allocation depends on the student’s country of origin.
    • Application Process: Students are required to contact the individuals responsible for managing this program in their home country.

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Specializations & Electives Offered


  • Applied Financial Economics
  • Data Science and Business Analytics
  • Finance
  • Financial Engineering
  • Global Supply Chain Management
  • International Business
  • Operations and Supply Chain Management
  • User Experience


  • Behavioral Finance
  • Corporate Valuation
  • Entrepreneurship
  • Ethics in Finance
  • Financial Econometrics
  • FinTech
  • Investment Banking
  • Mergers and Acquisitions
  • Portfolio Management
  • Real Estate Finance
  • Sustainable Finance

FAQs about MSc in Finance

The NBI Fund provides a unique opportunity for a group of students to manage a real portfolio of $5 million, investing in equities, bonds, and alternative assets.

Graduates have a near 100% placement rate and pursue careers in investment banking, commercial banking, asset management, corporate finance, and financial analysis.

Core courses cover topics like financial markets, corporate finance, quantitative finance, financial econometrics, and risk management.

Students can choose to complete a supervised project in their final semester, applying their knowledge to a real-world finance problem.

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