We present the results obtained for the problem of two electrons in a cylindrical quantum dot with finite step potential in the presence of orthogonal magnetic field. The method we adopted is linear variational theory, where the basis states are constructed from single electron eigenfunctions of the harmonic oscillator potential. We show how the two electron energy levels vary with the magnetic field for various quantum numbers. Magnetization of the system is then calculated after determining its free energy at a non-zero temperature. Finally, we also plot the electron density and pair correlation function for various quantum numbers and field strengths.