Study MBA in Canada for International Students - Fees, Scholarships, Eligibility, Jobs
Home to around more than 100 higher education institutions, Canada has escalated in the game of international study destination. An MBA in Canada is a 1-2 year degree program offering a quick returns on the investment. The cost of pursuing an MBA degree from these prestigious business schools ranges from 16,000 to 80,000 USD. For an Indian student, this will range between 11 Lakhs to 59 Lakhs (affected mostly by the choice of institution). You can earn as much as 80,000 USD to 200,000 USD annually (~59 LPA to 1.4 Cr/yr).
As per Financial Times MBA Rankings 2020, only three business schools in Canada for MBA made it to the top 100. However, as per QS MBA rankings (2020), 5 business schools in Canada make it to the top 100 list. An overall of 18 business schools from Canada made it to the top 240 rankings for Global MBA.
The latest statistics suggest that the employment rate of MBA graduates in Canada has moved up considerably. For instance, at the Schulich School of Business (Class 2017), 89% of students were hired within 3 months of graduation with an average salary range of $48,000-$190,000. Major sectors recruiting include Financial Services, Technology, Retail, Consulting, and Real Estate sectors. Similarly, in Desautels Faculty of Management, McGill University, 90% of MBA students were placed within 3 months of graduation in functional areas such as Finance, General Management, Marketing, and Business Development.
Why Study MBA in Canada?
- Nine Canadian universities made it to the top 150 universities for MBA globally, as per QS MBA Rankings (2020).
- A business degree in Canada is considered to be among top 10 subjects with the highest graduate salaries. Given below is a graph giving the average salaries of MBA graduates from top universities in Canada
- Simpler Visa & Immigration Process:- Every student who has ever thought of studying abroad can not deny that the complex process of Visa and Immigration can be a huge discouragement. With immigration friendly policies and an option for Indian students to get a faster visa is an added advantage for MBA aspirants.
- The financial services sector particularly stays strong in Canada, with a growth of around 11.6% in the past ten years (2007-2017). The opportunities to work in the sector are higher for an MBA graduate in Canada.
- With support towards SMEs and start-ups, the doors of entrepreneurship are always open for an MBA graduate in Canada.
Top MBA Colleges in Canada
Some of the best business schools in Canada rank globally amongst the QS top Global MBA Rankings (2020). Some of these are listed below along with the percentage of annual students and cost of pursuing an MBA program. International students can pursue a variety of MBA programs in Canada. The table below gives the duration of the full-time MBA programs.
|*Rankings||University Name||Business School/Duration of Program||Tuition Fee(USD/year)||International Students %||Brochure|
|54||University of Toronto||Rotman School of Management (2 year)||44,587||58% (MBA Class-2021)||Brochure|
|71||McGill University||Desautels Faculty of Management (1 year to 20 months)||34,970||60%||Brochure|
|75||University of Western Ontario||Ivey Business School (1 year)||88125||30%||-|
|78||Queen’s University||Smith School of Business (1 year)||71250||42%||Brochure|
|83||York University||Schulich School of Business (16-20 months)||39030||-||Brochure|
|101-110||University of Alberta||Alberta School of Business (20 months)||16287||49%||Brochure|
|111-120||University of British Columbia||Sauder School of Business (16 months)||46835||-||Brochure|
|111-120||John Molson School of Business (16 months)||30975||-||Brochure|
Types of MBA in Canada
There are several kinds of MBA degrees offered in Canada to suit the diverse interests and requirements of international students. Some of these are detailed below:
- Full-Time MBA: With an understanding of the diversity of the Canadian workforce, an MBA program prepares a student to enter the job market as a leader. The duration of the program is usually one-two years and students can choose to study in full-time. The program is best suited for a student who can devote their time solely to study.
- Part-time MBA: An MBA program of longer duration in comparison with FT-MBA but more suitable for working professionals looking for a degree alongside with the work.
- International MBA:- IMBA provides business insights from some of the world’s best professors and the opportunity to work with the world’s most renowned industry leaders. Apart from individual development, international students are exposed to global experience such as international field study, global courses, integrated curriculum, etc. The duration of the program is usually 20-28 months.
- Executive MBA:- Usually the duration of the program is 13 months, where the return on investment is both personal and professional. It is suitable for students who want to work while studying and aspire to gain practical corporate knowledge along with classroom learning.
Expect for these international students can also pursue Joint MBA degrees (a combination of pharmacy, law, engineering with global affairs) and Dual Degrees (MBA/JD or MBA/MFA/MA) available for studying in Canada.
MBA Vs PGDM
You may be looking for alternatives to a long MBA degree, in such case, PGDM (post-graduate diploma in management) is one of the best courses to pursue. Here is how PGDM is different from an MBA degree.
|Coverage||A comprehensive program covering the entire curriculum||Focuses on a specific area of Management.|
|Duration||Two-year||12 weeks (Varies)|
|Entry Requirements||Undergraduate degree with all the other necessary requirements mentioned above.||Undergraduate Degree with a cumulative score of at least 60%.|
|Job Opportunities||High Probability||Does not guarantee; requires work experience|
MBA in Canada Requirements
International applicants planning to pursue an MBA from Canada must ensure that fulfill the basic requirements for the degree. You must be familiar with the basic application process of top MBA universities in Canada and their eligibility. Given below are some of the details which international students must be aware of when applying for an MBA in Canada.
Online Application:- Every university has its own 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/ApplyAlberta, etc.
Application Fee:- Along with the completion of 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.
MBA in Canada Eligibility
International students must note that some important requirements that are to fulfilled for pursuing MBA in Canada include 4-year undergraduate degree, GMAT score, English language proficiency, and previous work experience. There are additional document requirements for MBA in Canada. The business school-specific eligibility for MBA program in Canada and documents required are detailed in the sections below:
|University||UG Degree Requirement||GMAT Score||Work Experience (in years)||IELTS Score||TOEFL Score||Interview|
|Rotman School of Management||8.0/10|
7.5/10 (for IIT graduates)
|McGill University||Relevant bachelors degree||Required- 550|
|Required- 2 |
|Ivey Business School||Relevant UG degree||Required- 550|
|Smith School of Business||75% (B+ on grade scale)||Required- 600|
|Schulich School of Business||UG degree (B+ grade)||Required- 550|
|Required- 2||7.0||100 (iBT)||Required|
|Alberta School of Business||80% or more||Required- 550|
|Sauder School of Business||B+ grade||Required- 550|
Average- 3 to 5
Average scores or experience is the one which was present in the previous class of MBA of the university. However, the required are the minimum scores or work experience required for pursuing MBA in Canada.
MBA in Canada: Documents Required
- Transcripts:- To secure admission in Canada, international students need to submit the scanned copies of all official transcripts through an online application portal.
- Resume:- Applicants must submit a one-page resume containing the details of their employment history. A well-made resume should have a record of the candidate’s academic qualifications presented in reverse chronological order.
- Letters of Recommendation/ Letters of Reference:- As a mandatory part of the admission process, students must submit at least two professional letters of recommendation. These letters must be directly from individuals who have been responsible for evaluating the candidate’s work performance and potential.
- Essays:- Writing a strong application essay can be the qualifying factor during the admission process. The idea behind it is to provide students with an opportunity to express themselves in formal prose. Students are asked to describe why should they be considered for the program. These essays are judged on the basis of their content, style, and tone.
- Scores of exams required for studying in Canada include language proficiency scores and GMAT/GRE scores. International applicants from non-native English speaking countries are required to submit these scores.
- Work Experience:- Most of the top universities admit candidates who have at least two years of full-time experience.
- Interview:- After a preliminary review of a candidate’s application, admitted students will be shortlisted for the interview process. Usually, for international students, the interview is conducted over Skype.
To study MBA in Canada, it is compulsory for all international students to obtain a Canadian visa and study permit for the duration of their study. Unlike other countries such as US or UK, Canada’s visa policies are less complicated, transparent, and accessible for students. Applicants must receive a letter of acceptance from a Designated Learning Institute (DLI) which is applicable at the post-secondary level.
Study MBA in Canada without GMAT
Most of the business schools in Canada for MBA ask for the submission of the Graduate Management Admissions Test (GMAT) scoresheet, based on which admission is granted. However, if you are an MBA aspirant who does not perform very well in tests, there is no need to worry. You are not completely out of luck. During admission decisions, students are evaluated on their analytical, decision-making, communication, and leadership skills through education and work experience.
There are several top-notch Canadian universities accepting candidates without their GMAT scores as long as they meet certain other requirements. Some of these universities are Schulich School of Business, York University, Queen’s University Smith School of Business, and many others.
Instead of GMAT scores, these universities rely on other requirements such as completion of an undergraduate degree in business or related field with an average of B+ or higher. Another requirement is that students must have at least two years of full-time work experience.
Study MBA in Canada without Work Experience
Though various business schools in Canada for MBA might not mandatorily ask for work experience as a part of the admissions process, the class profiles of these schools suggest that they prefer students with a work experience of as much as 3-4 years. You can still find some B-schools in Canada that will allow you to enter an MBA program without work experience. Some of these are:
- New York Institute of Technology (Vancouver, BC): For MBA admissions you will require to submit GMAT score and work experience is not required.
- Thompson Rivers University: Though university prefers students with work experience, it is not mandatorily required for taking admission with the university.
- Cape Brenton University: To apply for MBA program you need not have work experience.
- University of Windsor: Admission to MBA program does not require previous work experience.
- Brock University: The university allows to you apply for MBA programs without previous experience.
MBA in Canada: Cost of Study
For an international applicant planning to study in Canada, the costs for studying can be widely distributed into three categories. These are pre-arrival costs, cost of study, and cost of living. The cost of studying or the tuition fee MS in Data Science in Canada varies from 11,600 USD to 33,000 USD.
Given below is a table indicating the one-time major costs involved for an international student planning to study abroad.
|Type of Expense||Cost (USD)|
|Program Application Fees||76-136*|
|Visa Application Fees||235**|
*Depends on the university
**150 USD for a Canadian Study Permit and 85 USD is Biometric fees.
Tuition Fees for MBA in Canda
The annual tuition fees for popular business schools in Canada for MBA are detailed above. However, it can be said that the tuition fees for the whole program range from 32,574 USD to 89,174 USD. This will mean that an Indian student will spend around 24,60,000 to 67,36,000 INR in total as the tuition fees for the program. When expected to spend such hefty amounts on the tuition, the obvious question that arises is the rate on investment.
Is MBA in Canada Worth It?
Applicants must note that for some of its most popular business schools, Canada offers an increment of as much as 80% on the salaries as compared to pre-MBA salaries. The alumni weighted salary for top three business schools are compared with their annual tuition in the graphical representation below:
Cheapest MBA in Canada for International Students
As the cost of pursuing MBA in Canada exceeds too much, finding a university that offers MBA at a cheaper price is bliss. Here are some of the universities that offer a cheaper MBA in Canada:
|University||Duration||Fees (USD)||Fees (INR)|
|Memorial of University Newfoundland||2 years||9572||~7 lakhs|
|University of Saskatchewan||2 years||4991||~3 lakhs|
|Southern Alberta Institue of Technology||1 years||13,947||~10 lakhs|
|Carleton University||1 year||10,977||~8 Lakhs|
Cost of Living in Canada
Cost of accommodation, books & material, transport, food & beverages, etc make up the cost of living for an international student. The cost of living in Canada may vary slightly depending upon the university and city international student is living in. Basic living expenses are as follows:
|Type of Expense||Cost (USD/year)|
|Books & Material||1500|
|Food & Beverage||3000-5000|
International applicants must not that the cost of accommodation in Canada will highly depend on the type of student accommodation opted.
Study MBA in Canada with Scholarships
As the cost of study for an international student is cumbersome to support, international students look for scholarships available to study in Canada. Some of the popular scholarships to study MBA in Canada are detailed below:
|Scholarship||Amount (USD)||Offered by|
|Women in Business Excellence Award||Up to 10,000||Rotman School of Management|
|MBA Excellence Award||Up to 20,000||Rotman School of Management|
|Global Business Leader of Tomorrow||Up to 10,000-15,00||Sauder School of Business|
|Ivey MBA Scholarship||Up to 10,000||Ivey Business School|
|MBA Entrance Scholarship||Up to 7500-11,500||Haskayne School of Business|
|Scotibank Scholarships||Up to 20,000||Schulin School of Business|
Looking for more scholarships to study in Canada, Click here
MBA in Canada: Scope
In Canada, international students who have completed a two-year master’s program from a Canadian University can automatically receive a three-year work permit for Canada. As the second-largest country on Earth, Canada opens a large number of doors for MBA students in terms of job opportunities. Some of these career opportunities are discussed below:-
- Finance and Consulting:- The traditional employers of MBA, financial services firms and consulting companies remain the major recruiters of MBA students in Canada.
- SMEs:- Small and medium-sized enterprises are becoming one of the biggest hiring sectors of business school talent. MBA students who are specifically trained in the sector of management find this option as a great opportunity of learning and exposure.
- Technology:- Living in the 21st century, technology has surpassed all the other sectors of the economy. Technology-based firms have always been the most enticing career choice for MBA students.
Some of the popular job destinations and their average salaries in Canada offered to MBA graduates in Canada are given below:
|Designation||Average Annual Salary (USD)|
|Business Development Manager||182,000|
So except for blessing the world with intellectuals like Justin Trudeau, Canada has also managed to make its mark in the education sector. Even though Canada may not have an MBA as regarding as its neighbor (USD), the immigration friendly policies, multicultural society, welcoming nature of the country makes it one of the most popular international student destination. The country offers enormous opportunities to MBA graduates in SMEs, start-ups, and other popular MBA recruiters like Amazon, EY, Accenture, etc. This makes the MBA in Canada totally worth the expense.
Ques. How much does an MBA in Canada Cost?
Ans. The cost of studying an MBA in Canada is around 32,000 USD to 89,000 USD. This is equal to 24 Lacs to 67 Lacs for an Indian student for completing an MBA in Canada. This cost mostly is the tuition fees. Additionally, an international student will be required to have sufficient funds for living in Canada, which is around 4,000 USD to 10,000 USD/month.
Ques. What are the exams required for MBA in Canada?
Ans. International applicants are required to submit test scores of exams like GMAT (550-650), IELTS (7.0), and TOEFL (96-100). IELTS & TOEFL are mostly required by international students belonging to non-native English speaking countries.
Ques. What are the best colleges for MBA in Canada?
Ans. Some of the top best business schools in Canada for pursuing an MBA are Rotman School of Management, Ivey School of Business, Desautels Faculty of Management, Smith School of Business, and Schulich School of Business. These are b-schools and faculties of UToronto, McGill University, UWO, Queens University, and York University, respectively.
Ques. What is the salary of an MBA in Canada?
Ans. The average hourly wage of an MBA is 40 USD. Annually an MBA graduate in Canada can make at least 48,000 USD to 200,000 USD. For an Indian student investing 24-67 Lacs in the degree, this will be 36,00,000 to 1,53,00,000 INR.
Ques. Is it easy to get a job after MBA?
Ans. Post completion of an MBA in Canada from business colleges in Canada it is not only easy to get a job but also easy to get the Canadian PR. Applying and obtaining a three-year work permit post MBA in Canada is a task easily done as most of the students have previous experience which helps them find a job.
Ques. Is GMAT required for MBA in Canada?
Ans. No, though most of the business schools in Canada need the applicants to have a GMAT score while making applications. The score range is 550-650. However, there are certain colleges in Canada where GMAT is not a mandatory requirement to be fulfilled. Some of these include Smith School of Business, Schulich School of Business, etc.
Ques. Is work experience required for MBA in Canada?
Ans. No, various business schools in Canada accept students without previous exprience for MBA programs. Some of these include NYIT, University of Windsor, Brock University, etc.
Ques. Are scholarships available for MBA in Canada?
Ans. Yes, a variety of scholarships are availble for pursuing MBA in Canada. Some universities offer specific scholrships to its MBA applicants which offer awards of amount as much as 10,500 CAD.