Why MBA?
Many professionals choose to pursue an MBA as the next logical step towards advancing their career. The benefits of an MBA degree is really vast regardless of the area or industry of professional focus. However, the only question that arises is if it’s worth it, given the commitment and the expense involved. MBA can be ideal for those who plan to work in a managerial capacity or those who have entrepreneurship aspirations, it can build the fundamental leadership skills to succeed in these areas.
Why Canada?
Canada has become one of the top destinations to pursue higher studies. Being a developed nation, Canada offers a pool of opportunities for students. The multi-cultural environment, simple immigration rules, high-earning work opportunities and an easy path for obtaining a PR and citizenship is what attracts a plethora of students to study in Canada. Also, an MBA in Canada has been offering a comprehensive international educational experience along with the before told advantages.
The presence of some of the top universities for an MBA makes Canada a perfect place for international students. Let's have a look at the best rated MBA colleges in Canada:
Top 10 MBA Colleges/Universities in Canada
| Ranking 2021 | College/University | Average Gmat | Tuition Fees (international students) |
| #87 | Ivey Business School - University of Western Ontario | 660 | 1,20,500 CAD |
| #45 | Schulich School of Business - York University | 660 | 1,06,900 CAD |
| #75 | Rotman School of Management - University of Toronto | 678 | 1,29,820 CAD |
| #91 | Desautels Faculty of Management - McGill University | 670 | 1,24,374 CAD |
| #64 | Sauder School of Business - University of British Columbia | 650 | 1,35,086 CAD |
| #49 | Queens School of Business - Queen’s University | 651 | 1,02,100 CAD |
| #62 | HEC Montreal | 630 | 1,08,000 CAD |
| #103 | Alberta School of Business - University of Alberta | 630 | 60,000 CAD |
| #201 | Beedie School of Business - Simon Fraser University | 630 | 51,700 CAD |
| #401 | Edwards School of Business | 560 | 47,409 CAD |
Types of MBA in Canada
Canada provides you an opportunity to choose an MBA according to the suitability:
Full-time MBA in Canada
- This type of MBA is suitable for those students who want to devote their time to study only and enter the job market as a leader after the degree.
- The duration is usually two years and students can choose to study full time
- Students applying for an FT-MBA are required to provide a decent GMAT/GRE score along with a language proficiency test score.
Let's take a look at the best universities/colleges offering an FT-MBA:
| S.no. | University/College | Cost (INR) |
| 1. | Full-time MBA at University of Toronto | 38 lakhs per year |
| 2. | Full-time MBA at McGill University | 59.3 lakhs per year |
| 3. | Full-time MBA at McMaster University | 26.7 lakhs per year |
| 4. | Full-time MBA at Saint Mary’s University | 32 lakhs per year |
| 5. | Full-time MBA at University of New Brunswick | 6.9 lakhs per year |
Part-time MBA in Canada
- This type of MBA is suitable for those who want to work alongside their studies.
- It is also suitable for working professionals to study as they work.
- The course duration is usually 3-6 years depending on the university.
Let’s take a look at the best universities/colleges offering a part-time MBA:
| S.no. | University/College | Cost (in INR) |
| 1. | The University of Alberta - Alberta school of Business | 19.8 lakhs per year |
| 2. | Concordia University - Molson School of Business | 32 lakhs per year |
| 3. | HEC Montreal | 18.8 lakhs per year |
Executive MBA in Canada
- This type of MBA is suitable for those managerial levels of experience who are looking forward to advancing their education.
- One of the requirements for this MBA is 8-10 years of professional experience in a relevant field.
- Apart from these students can also opt for dual degrees which combine your MBA with a specialization. in the desired field like pharmacy, law, engineering etc.
Let's take a look at the best universities/ colleges for an Executive MBA in Canada:
| S.no. | University/College | Cost (in INR) |
| 1. | University of Ottawa | 24.8 lakhs per year |
| 2. | Schulich School of Business - York University | 31.3 lakhs per year |
| 3. | Smith School of Business - Queen’s University | 30.8 lakhs per year |
| 4. | McGill University | 54.2 lakhs per year |
One - Year MBA in Canada
- This type of an MBA puts you on the fast track to learn and develop skills for the international job market.
- As the name suggests the course duration is only a year.
Let's take a look at the best universities/ colleges for a One-year MBA in Canada:
| S.no. | University/College | Cost (in INR) |
| 1. | Sauder School of Business | 53.7 lakhs |
| 2. | Richard Ivey Business School - Western University | 74.5 lakhs |
| 3. | HEC Montreal | 27.4 lakhs |
| 4. | Alberta School of Business | 17.7 lakhs |
| 5. | Smith School of Business | 76.1 lakhs |
Specialization MBAs
- These MBAs are for students looking to make a career and develop skills in a specialised field.
- Specialized Fields include:
- Finance
- Business Analytics
- International Business
- General management
- Entrepreneurship
- Supply Chain Management
- Economics
Let's take a look at the universities/ colleges offering a Specialization MBA in Canada:
| S.no. | Specialization | University | Cost (in INR/year) |
| 1. | Finance | University of Alberta | 15.8 lakhs |
| Finance | Concordia University | 20.4 lakhs | |
| Finance | Laval University | 8.3 lakhs | |
| Finance | University of Toronto | 38 lakhs | |
| Finance | Queen’s University | 76.1 lakhs | |
| 2. | Business Analytics | McGill University | 58 lakhs |
| Business Analytics | McMaster University | 50 lakhs | |
| Business Analytics | University of Calgary | 17 lakhs | |
| Business Analytics | Queen's University | 60 lakhs | |
| Business Analytics | Laval University | 17 lakhs | |
| 3. | International Business | University of Alberta | 15.8 lakhs |
| International Business | York University | 33.4 lakhs | |
| International Business | Ryerson University | 35.5 lakhs | |
| International Business | University of Regina | 9 lakhs | |
| 4. | General | University Canada West | 13.7 lakhs |
| Management | University of Toronto | 38 lakhs | |
| Management | University of British Columbia | 53.7 lakhs | |
| Management | University of Alberta | 16.4 lakhs | |
| 6. | Entrepreneurship | University of Alberta | 15.5 lakhs |
| Entrepreneurship | Queen’s University | 76.1 lakhs | |
| Entrepreneurship | York University | 33.4 lakhs | |
| Entrepreneurship | University of Toronto | 38 lakhs | |
| 7. | Supply Chain Management | University of Toronto | 38 lakhs |
| Supply Chain Management | University of Alberta | 16.4 lakhs | |
| Supply Chain Management | McMaster University | 26.7 lakhs | |
| Supply Chain Management | York University | 33.4 lakhs | |
| 8. | Economics | University Canada West | 13.7 lakhs |
| Economics | Sprott School of Business | 19.3 lakhs | |
| Economics | New York Institute of Technology - Vancouver | 19.1 lakhs |
MBA in Canada for Indian/International Students: Admission Requirements
International students applying for an MBA in Canada must fulfil the basic requirements. Given below are some of the details that all international students must be aware of before applying for the MBA degree in Canada.
MBA in Canada Eligibility:
Following is required to be eligible to apply for an MBA degree in Canada:
| S.no. | Name | Requirement |
| 1. | Undergraduate Degree in a relevant field | 4-year degree |
| 2. | Work Experience | 3 to 5 years (depending on the university) |
| 3. | Gmat Score | 600 - 700 (depending on the university) |
| 4. | English Proficiency Test Score | IELTS- 6.5 (Minimum) TOEFL- 100 (Minimum) |
Application Process:
Each university has its own application portal where students can register themselves and complete the application process to apply for the MBA degree.
- In few cases, the application is required to be filled through province-specific application portals.
- Let's take a look at the documents required for the online application process:
- Scanned copy of transcripts from all the institutes previously attended
- English translation of non-English transcripts
- Statement of Purpose for MBA
- Personal Statement
- Two to three professional or academic recommendation letters
- Updated Resume
Canada Student Visa:
International students are required to apply for a student visa to pursue education in Canada. Following is some crucial information to know about a Canadian Student Visa:
| Application Portal | Online |
| Processing Time | 11 weeks (approximately) |
| Validity | During the program and 90 days more |
| Processing fees | 150 CAD |
| Visa Requirements |
|
MBA in Canada without GMAT:
The majority of the universities/colleges in Canada require a decent GMAT score for admission to an MBA program. However, there you do not need to worry if you are not good at scoring in exams. During the admission process MBA aspirants are evaluated on the basis of analytical, communication, leadership and decision-making skills acquired through education and work experience.
So, there are several top-notch Canadian institutes that accept candidates without a GMAT score based on certain criteria. Some of the universities are:
- Schulich School of Business
- York University
- Queen's University - Smith School of Business
- Lakehead University
- Thompsons River University
- New York Institute of Technology
- Wilfrid Laurier University
- DeGroote Business School
Different universities have different criterions for admission to an MBA without GMAT. Some of the common requirements to get a GMAT waiver are:
- Good GPA in Bachelors
- Work Experience
- Remarkable CV
- Letters of Recommendation
MBA in Canada without Work Experience:
Though most of the top universities in Canada require work experience for admissions to their MBA programs there are plenty of others that will allow you to enter without work experience. Some of the Canadian universities waiving off work experience requirement for MBA are:
- New York Institute of Technology
- Thompson Rivers University
- Cape Breton University
- University of Windsor
- Brock University
MBA in Canada Cost:
The total cost of an MBA in Canada can be grouped under three broad categories namely pre-arrival cost, cost of study and cost of living. Let's take a closer look at these costs:
Pre-arrival Costs:
These costs incurred by a student before they reach the study destination are known as pre-arrival costs. These costs include the following:
| S.no. | Name | Cost (in USD) |
| 1. | Program Application Fees | 70 - 140 (depending on the university) |
| 2. | Visa Application Fees | 114 - Canadian Study Permit 64 - Biometrics Fees |
| 3. | Health Insurance | 10,000 |
| 4. | IELTS Fees | 180 - 190 |
| 5. | TOEFL Fees | 160 - 250 |
| 6. | Airfare | 450 - 1400 |
Cost of Study:
These costs generally include the tuition fees of the university. We have discussed the cost of some of the top universities. However, let's take a look at some of the low-cost MBAs in Canada for International Students:
| S.no. | University | Duration | Fees (in INR) |
| 1. | Memorial of University Newfoundland | 2 years | 7.8 lakhs |
| 2. | University of Saskatchewan | 2 years | 3 lakhs |
| 3. | Southern Alberta Institute of Technology | 1 year | 10 lakh |
| 4. | Carleton University | 1 year | 8 lakh |
Cost of Living in Canada:
These types of costs usually depend on the city of residence. Some of the cities in Canada are considered costly as compared to others. Let's take a look at the average cost of living in Canada:
| Sr.no. | Type | Cost (in USD) |
| 1. | Books and Material | 1500/year |
| 2. | Food and Beverage | 3000 - 5000/year |
| 3. | Accommodations | 4500 - 10,000/year |
| 4. | Clothing | 50/month |
| 5. | Utilities | 500/month |
| 6. | Entertainment | 70 - 170/month |
MBA in Canada Scholarships:
Canada is the most preferred country for MBA aspirants but the education doesn’t cost cheap. For those in need of financial support for their studies, we have enlisted some scholarships both government and university specific provided to some students under some criteria.
Government Scholarships:
| Scholarships | Information |
| Banting Postdoctoral Fellowships | Offered to international students for postgraduate study in social sciences or health research. |
| Canada Graduate Scholarships | Offered to Canadian students for a masters degree or PhD |
| IDRC Research Awards | Offered to students from developing countries for a master’s or doctoral-level research degree. |
| NSERC Postgraduate Scholarships | Offered to outstanding students undertaking study in natural sciences or engineering |
University-specific Scholarships:
| University | Information |
| HEC Montreal | Offered to needy and meritorious international students, including mobility scholarships for international students. |
| McGill University | Various funding opportunities, including the:
|
| Queen's University | A number of scholarships are awarded to international students. Some awards are solely open to students from India, Pakistan and the USA. |
| University of British Columbia | A good number of scholarships for master’s and PhD students, including the university’s four-year doctoral fellowships and Graduate Support Initiative. |
| University of Alberta | A range of scholarships available for students pursuing graduate/undergraduate students. |
| University of Calgary | A selection of scholarships available for international students. Rewards range from 500 to 60,000 CAD. |
| University of Toronto | Scholarships are available for both domestic and international students. |
| Simon Fraser University | A range of scholarships and other funding opportunities are available for domestic and international students. |
| York University | Offers a number of scholarships for undergraduate students |
For more information regarding funding opportunities, you can contact your local Canadian Embassy.
Careers After MBA in Canada:
International students automatically receive a three-year work permit for Canada after completing their MBA degree. Being the second-largest country in the world, Canada presents a whole pool of job opportunities for MBA students.
Top Career Fields In Canada:
There has been a change in the job market due to the pandemic. The massive shift to remote work, widespread use of digital technology and tools, updated office and workplace layouts have led to a rocketed demand for several jobs.
| Field | Job Titles | Average Salary Range (in CAD) |
| Technology and Engineering |
| 42,178 - 112,125 per year |
| Health |
| 46,878 - 93,600 per year |
| Finance | Financial advisor/planner | 39,838 - 107,815 per year |
| Finance | Accountant | 40,306 - 131,254 per year |
| Finance | Accounts payable and receivables clerk | 29,991 - 60,937 per year |
| Sales and Marketing Management | Merchandiser | 29,250 – 67,275 per year |
| Sales and Marketing Management | Administrative Assistant | 29,250 - 63,745 per year |
| Sales and Marketing Management | Customer Service Representative | 25,350 - 56,550 per year |
| Sales and Marketing Management | Sales Associate | 23,400 - 45,000 per year |
| General Business | Human Resources Manager | 50,134 - 137,748 per year |
| General Business | Project Manager | 33,150 - 75,406 per year |
Q & A
Q. What is the cost of an MBA in Canada?
A. The cost of an MBA in Canada is around 30,000USD to 40,000USD annually. This equals to around 25 lakhs to 80 lakhs for an Indian Student. However, the majority of which is the tuition fees. Additionally, an international student is required to have sufficient funds for his stay in Canada, which sums to around 4000 USD to 10,000 USD per month. For Indian students this can go up to 7 lakhs per year.
Q. What is the value of a Canadian MBA?
A. Canada is one of the largest and strongest economies in the world. It offers a pool of job opportunities to MBA graduates. Additionally, it is home to some of the top MBA recruiters and offers a realistic environment to international students looking forward to studying abroad.
Q. Which is the best MBA in Canada?
A. Canada offers some of the top MBA programs in the world. Universities like McGill University, York University, University of Toronto, Queen's University are the best universities in Canada for an MBA.
Q. Which is the cheapest MBA in Canada?
A. Some of the affordable universities in Canada are the University of Alberta, University of Newbrunswick, University of Calgary, Carleton University, Laval University etc.
