Scholarship Awards

Learn about our general scholarship awards, our Master’s Scholarship Award for women and how they help foster a diverse and talented workforce. See past recipients and find out whom to contact for more information.

A diverse and talented workforce

The scholarship awards reflect the Bank’s commitment to the diversity of people, ideas and disciplines by encouraging Canadians to consider employment in fields related to the work of the central bank and assisting them in furthering their education. This is part of our broader goal to reflect the Canadians we serve, recognizing that a diverse and talented workforce can foster innovative thinking that results in better policy outcomes for Canadians.

General scholarship awards

These Awards are designed to assist students with disabilities, Indigenous students and those who identify as a person of colour or as a member of a visible minority group or racialized group in furthering their education and to encourage them to take an interest in fields related to the work of the Bank—such as:

• Economics and Finance
• Administration and Operations
• Information Technology and Cyber Security
• Human resources
• Accounting.

These $4,000 CAD scholarships are awarded to deserving students to help remove barriers to education and support greater diversity in our workforce.

Criteria and applications

Application period

The application period is from May 1 to August 1, every year. Applications and supporting documents must be received by 23:59 Eastern Time on August 1.

Accommodation and assistance

Let our team know if you need accommodation or support during the application or selection processes due to a disability or other reason. We can provide support in multiple ways, from submitting your application, right through to the interview process. Contact to discuss how.

Eligibility

To be considered for one of these awards, you must:

• be a Canadian citizen or permanent resident
• be pursuing post-secondary or post-graduate studies in a Canadian post-secondary institution, on a full-time or part-time basis, in a field related to the work of the Bank of Canada, including but not limited to:
  • Economics and Finance: economics, computer science, mathematics or statistics, commerce/business administration with a finance major
  • Administration and Operations: financial services, administration and business, project management, human resources, communications and web, internal audit, currency production, knowledge and information management, security
  • Information Technology and Cyber Security: software development, network engineering, solution architecture, project management, business analysis, cyber security
• have an overall average grade of 70 percent or higher
• meet the additional criterial laid out for students with disabilities, Indigenous students, and students who identify as members of a visible minority group
• submit an online application that includes the following documentation:
  • a current curriculum vitae
  • a cover letter (up to 500 words) about yourself, why you chose your field of study and career interests.
  • official or unofficial transcripts of your academic record. Relevant courses you have attended must be clearly identified by their course titles.

For students with disabilities

In addition to the above eligibility criteria, you must self-identify as a person with a disability. You may wish to consult the definition included in Canada’s Employment Equity Act. If you are selected for the scholarship award, you will be also be required to provide a Confirmation of Eligibility Form completed by your physician confirming that you have disability.

For Indigenous students

In addition to the above eligibility criteria, you must be a Status Indian, a Non-Status Indian, Inuit or Métis. The Bank of Canada works with Indspire to manage the scholarship application process for Indigenous students. Visit their website to learn more.

For students in visible minority groups

In addition to the above eligibility criteria, you must identify as a member of a visible minority group or racialized group or as a person of colour. You may wish to consult the definitions included in Canada’s Employment Equity Act and the Canadian Race Relations Foundation. The Bank developed this scholarship in consultation with the Michäelle Jean Foundation.

Work opportunity

The Bank of Canada hires talented students each year. As a shortlisted candidate in the scholarship selection process, you may be invited to a secondary interview for consideration for a paid summer or part-time (during the academic year) work placement at the Bank of Canada.

Work opportunities are determined based on the student’s field of study and the Bank’s business requirements. Most work placements are at the Bank’s Head Office in Ottawa; however, recipients may be offered the option of working at a regional office: Halifax, Montréal, Toronto, Calgary or Vancouver. Relocation allowance may be provided if required.

Other terms and conditions

Candidates selected for the scholarship will be notified within two months of the application deadline. The initial $4,000 CAD is disbursed in one instalment once the recipient has accepted the scholarship award. The scholarship is renewable for up to a maximum of $16,000 CAD over four years.

We wish to thank all applicants for their interest and effort in applying for a scholarship award; however, only candidates selected for interviews will be contacted.

If you are considering applying, consult the full terms and conditions.

Master’s Scholarship Award for Women in Economics and Finance

The Bank of Canada values the contributions of women in Economics and Finance and awards scholarships to support women in these specializations. The Master’s Scholarship Award for Women in Economics and Finance:

• Promotes, among women at the undergraduate level, or those who have completed an undergraduate degree, the pursuit of graduate studies in Economics and Finance;
• Proactively contributes to building a gender-balanced talent pool for the Economics and Finance professions in central banking.

Up to five women will be granted a Scholarship Award of $10,000 CAD. In addition to the award, successful candidates will be offered summer employment, internship, or term employment with the Bank, mentorship by a Bank employee, and the possibility to attend a learning event at the Bank of Canada related to central banking, economics or finance (e.g. lecture, conference, networking event).

Criteria and application

Application period

The application period is from early September to mid October. Interviews normally take place from late November to early December.

Accommodation and assistance

Let our team know if you need accommodation or support during the application or selection processes due to a disability or other reason. We can provide support in multiple ways, from assistance to submit your application, right through to the interview process. Contact to discuss.

Eligibility

Students in the final two years of an undergraduate program maintaining an average of 70 percent or higher, or those who have completed an undergraduate degree with an overall average of 70 percent or higher, are eligible to apply for this scholarship. Women currently enrolled in a Master’s program in Economics or Finance are not eligible to apply for this scholarship. You must be:

• A Canadian citizen or permanent resident;
• Self-identify as a woman;
• Planning to pursue a Master’s degree in Economics or Finance.

You must also submit an online application that includes the following documentation:

• Transcript of undergraduate academic record to date (a photo or a copy is acceptable), or proof of completion of an undergraduate program with official transcript;
• Current CV/resume;
• A personal statement (500 words or less) that includes reflections on:
• Your reasons for pursuing further education in Economics or Finance.
• What you are hoping to gain from the Scholarship and work experience.

Candidates will be evaluated on the following:

• Academic performance in related courses, as listed in your transcript;
• Personal statement on reasons for pursuing graduate education and what you hope to gain through the scholarship and work experience at the Bank, as demonstrated in the letter;
• Interview.

Work Opportunity

Successful candidates may be offered summer employment or internship between their years of study, or term employment as a Research Assistant following the completion of their undergraduate degree (for those who choose to gain work experience before undertaking their graduate studies).

Recipients may have the option of working at the Bank’s Head Office located in Ottawa or at one of its regional offices in Halifax, Montreal, Toronto, Calgary, or Vancouver.

Other terms and conditions

The scholarship award is disbursed in one instalment on proof of registration in a Master’s Program in Economics or Finance at a degree-granting institution. Candidates selected for the scholarship will be notified within three months of the application deadline. If you are considering applying, consult the full terms and conditions.

We encourage applications from women, Indigenous peoples, veterans, persons with disabilities, members of visible minorities or racialized groups and persons of all races, ethnic origins, religions, abilities, sexual orientations, and gender identities and expressions. We wish to thank all applicants for their interest and effort in applying for a scholarship award; however, only candidates selected for interviews will be contacted.

Contact

For more information, please email .

Past recipients