MBA in Canada is a popular destination to explore both education and work opportunities. The country boasts of a list of quality business schools like Rotman School of Management and Ivey Business School, which feature almost all the world’s significant rankings.
An MBA in Canada is usually a 2-year degree program. The cost of pursuing an MBA degree from top business schools in Canada ranges from 16,000 to 80,000 USD (INR 11 Lakhs to 59 Lakhs); however, this range may differ according to the program and university you choose. . International students can pursue a variety of MBA programs in Canada. Some of the best business schools in Canada rank globally amongst the QS top Global MBA Rankings (2021).
Why Study MBA in Canada?
Nine Canadian universities made it to the top 150 universities for MBA globally, as per QS MBA Rankings (2020). Institutions here focus majorly on increasing the knowledge base and help students explore all the disciplines of the business world. MBA colleges in Canada are affordable and offer an internationally recognised degree, and admissions and student visa procedures are straightforward.
Business programs by Canadian institutions enhance the career opportunities and earning potentials of the student. Like Schulich School of Business and McGill University, most graduates from top B-schools were offered jobs in Canada within three months. The financial services sector mainly stays strong in Canada, with around 11.6% in the past ten years (2007-2017). The opportunities to work in the industry are higher for an MBA graduate in Canada.
- You will need to have at least 76% (or more) in your Bachelors.
- An IELTS or TOEFL score of 7.0
- good GMAT scores
- You must also have prior work experience (3-5 years).
Though most top universities require GMAT and work experience, many universities offer an MBA without GMAT and MBA without work experience in Canada.
According to the universities, these criteria can change as each university has its own set of rules and standards.
Top MBA colleges in Canada
Some of the best business schools in Canada rank globally amongst the QS top Global MBA Rankings (2021). International students can pursue a variety of MBA programs in Canada. The table below gives the duration of the full-time MBA programs.
|University Name||Business School/Duration of Program||Tuition Fee(USD/year)|
|University of Toronto||Rotman School of Management (2 years)||44,587|
|McGill University||Desautels Faculty of Management (1 year to 20 months)||34,970|
|Queen’s University||Smith School of Business (1 year)||71,250|
|University of Western Ontario||Ivey Business School (1 year)||88,125|
|York University||Schulich School of Business (16-20 months)||39,030|
|University of British Columbia||Sauder School of Business (16 months)||46,835|
|University of Alberta||Alberta School of Business (20 months)||16,287|
Admission for MBA in Canada
Business schools offer admission based on the grades in an undergraduate degree, relevant work experience, and an interview conducted by the business school faculty.
To get admissions with Canadian universities, you will need to the essential Eligibility criteria. If the universities require a standard, submit the necessary documents and submit the relevant application fees.
To apply for an MBA in Canada, first, you need to select your institute that you wish to apply for. The next step is to check the eligibility requirements of your chosen institution.
For international students, online application is the only way to apply. Every University has its application portal where candidates need to register and complete the application form. In some cases, you may be required to fill in the applications through the province-specific application portals, like OUAC/Apply Alberta, etc.
After completing the online application, candidates must pay an application fee (in Canadian funds). This fee can be paid by credit card and is non-refundable when submitting the online application form.
Then, you need to upload the required documents.
- GMAT/ Test Score
- English test scores of TOEFL/IELTS depending on which the institute demands
- Mark-sheet/ Scorecard for Bachelors degree
- Copy of Passport
- Letter of Recommendation (minimum two)
MBA in Canada without GMAT
Most of the top business schools in Canada for MBA require your Graduate Management Admissions Test (GMAT) score sheet in their eligibility criteria, based on which admission is granted. However, some universities grant entry without GMAT requirements as long as they meet certain other conditions. Students are evaluated on their analytical, decision-making, communication, and leadership skills during admission decisions through education and work experience. Some of these universities are Schulich School of Business, York University, Queen’s University Smith School of Business, and many others.
MBA in Canada without Work Experience
Some business schools in Canada for MBA might not mandatorily ask for work experience as a part of the admissions process. Still, they do prefer students with work experience of 3-4 years. However, there is some B-schools in Canada that grant MBA program without work experience. Some of these are
New York Institute of Technology (Vancouver, BC) For MBA admissions, you will require to submit a GMAT score, and work experience is not required.
Thompson Rivers University Though the university prefers students with work experience. It is not mandatorily required for taking admission to the university.
Cape Brenton University To apply for the MBA program, you need not have work experience.
The University of Windsor Admission to the MBA program does not require previous work experience.
Brock University The university allows to you apply for MBA programs without previous experience.
Your expense starts when you apply for a visa. While applying for an MBA degree, their studies include tuition fees, books, transportation, and accommodation costs once you arrive in Canada.
The total program cost of an MBA in Canada from top business schools is approximately from 32,574 USD to 89,174 USD. University of Alberta and McGill University have the lowest tuition fees, and UWO with the highest Tuition fees.
The cost of accommodation, books and materials, transport, food and beverages, etc., are other expenses that an international student has to pay. The cost of living in Canada may vary slightly depending upon the university and city the international student lives in. Basic living expenses are as follows
|Type of Expense||Cost (USD)|
|Other Related Expenses||78-163/month|
|Food and Beverage||3000-5000/yr|
|Books and Material||1500/yr|
International applicants must not demonstrate that the cost of accommodation in Canada will highly depend on the type of student accommodation opted for.
MBA Scholarships in Canada
Some of the popular scholarships to study MBA in Canada are detailed below
|Scholarship||Amount (CAD)||Offered by|
|Scotiabank Scholarships||Up to 20,000||Schulich School of Business|
|MBA Excellence Award||Up to 20,000||Rotman School of Management|
|Ivey MBA Scholarship||Up to 10,000||Ivey Business School|
|Global Business Leader of Tomorrow||Up to 10,000-15,00||Sauder School of Business|
|Women in Business Excellence Award||Up to 10,000||Rotman School of Management|
Jobs after MBA in Canada
In Canada, international students who have completed a two-year Masters program from a Canadian University can automatically receive a three-year work permit for Canada. MBA graduates are amongst the best paid in the world. Students are generally offered positions in managerial roles after MBA. Finance is the highest paid industry globally, with the annual salary of an MBA graduate being 97,100 USD, followed by technology and consulting.
Top industries offering MBA jobs
- Financial Services
- IT/Computer Services
- Consulting/Professional Services
Top Paying Sectors for MBA in Canada
Some of the famous job roles to look out for after completing your MBA in Canada are as follows.
|Designation||Average Annual Salary (USD)|
|Business Development Manager||182,000|
1. Is MBA from Canada worth it?
It is home to some of the top MBA recruiters. It offers a friendly environment to international students looking forward to studying abroad and provides immense opportunities for work to international students.
2. Which MBA is in more demand in Canada?
An MBA specialisation in marketing is one of the top demand programs in Canada .global industries hire professionals with marketing specialisations. This is followed by business development, finance, data analytics and machine learning, consulting, and operations.