Top Business Colleges in Canada: Courses, Eligibility, Costs, Scholarships and Salaries

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    Anam Shams

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    With a vast array of options to study business and entrepreneurship, Canada is a popular study destination for international students. The ongoing craze for pursuing MBA can be given wings by completing an MBA from Canada. With around 25 Canadian B-schools ranking for their MBA program, Canada lies within top three countries with most ranking B-schools in the world. The USA tops this list and is followed by the UK. However, the cost of pursuing MBA in Canada for Indian students is lesser when compared with US and UK. 

    Globally Ranked Canadian Colleges to Study Business

    Following are the globally ranked business colleges of Canada that can make your career even smoother for the long run. This data is gathered from World MBA Ranking 2020 by QS.

    College/University Global Ranking Business Programs Offered
    University of Toronto 51 8 undergraduate degree; 1 graduate degree
    McGill University 71 4 Bachelor degree; 9 Master’s degree; 1 Executive Master’s degree;
    3 Diploma courses; 2 Graduate certificate courses; 1 Certificate course
    Western University 75 1 MBA course; 1 EMBA course; 1 Ph.D. course; 1 minor course;
    1 Certificate and diploma course; + more combined degree programs
    Queen’s University 78 1 M.Sc course; 1 Ph.D. course
    York University 83 8 undergraduate program; 3 graduate program

    Business Colleges in Canada: Specializations and Degrees

    In Canada, a student can get a number of specializations in their business courses that helps them carve a niche for themselves in terms of employment and career growth. According to a recent report of Canadian Business journal, it becomes 27% easier for a person to get a better designation in case he or she holds the MBA degree from any top Canadian university.

    As there are so many specifications available in Canadian universities, it will be better to know the most popular specializations among the students right now. These are:

    • Business communication
    • Business management
    • Business law
    • Marketing
    • Canadian business
    • Professional business communication
    • Business valuation
    • Strategic management in business
    • Business financial accounting
    • Human resource management in business
    • Business analytics
    • Business economics
    • International business administration
    • Business entrepreneurship
    • Business strategies specialist
    • Business administration with IT

    The business colleges of Canada are giving the opportunity to opt for business study of all levels ranging from undergraduates to graduates to doctoral courses and research opportunities in Canada. A student can get the following degrees

    1. Undergraduate degree: BA/BBA
    2. Graduate degree with MA, M.Sc, MBA, MFA, and IMBA that may include B.C.L. and L.L.B.
    3. Doctorate degree as PhD

    Plus, there are multiple diploma and certificate courses that are given much priority in the corporate sectors.

    Business Colleges in Canada: Undergraduate Programs

    There are multiple colleges offering bachelor's in business courses in Canada. Before knowing about the colleges and universities, let's have a look at the eligibility criteria and the duration of the course.

    Duration: Roughly, the duration of the bachelor courses of business is 2-4 years and it varies based on the specialization selected. The following ones are the most preferred undergraduate courses in Canada:

    Program  University  Duration  Yearly fees in CAD
    Bachelor of business administration  University of Toronto 4 years $74,470.70
    Bachelor of Commerce in International Business (Vancouver) The University of British Columbia 4 years Approximately $66,491.70
    Bachelor of business administration York University 4 years $47,874.02
    Bachelor of Business Administration / Bachelor of Computer Science University of Waterloo 4 years $57,182.86
    Honours Bachelor of Business Administration (Finance) Sheridan College 2-4 years $27,546.56

    Business Colleges in Canada: Eligibility for Bachelors 

    Different universities of Canada are seen to have different eligibility criteria, but in general, almost all the universities require the candidates to qualify the certain tests to study in Canada. The requirement for applying for undergraduate business degrees in Canada are:

    • IELTS (6.5)/TOEFL(84-95) and PTE (60-65) are some of the criteria for the students who want to get their bachelor's degree from any of the aforementioned Canadian universities.
    • Along with that, a high school diploma or equivalent diploma from any recognized board is mandatory for the bachelor's course.

    Apart from the factors mentioned above, some colleges may have some specific requirements.

    International applicants must note that eligibility criteria of the universities may vary in these universities. However, IELTS, TOEFL and PTE are the minimum requirements for getting admission in the BBA in Canada or other bachelor degrees in business.

    Business Colleges in Canada: Fees & Funding for Bachelors 

    For the undergraduate business courses in Canada, students may struggle to avail of the scholarships. In case a student is looking to get the admission in the University of Toronto for undergraduate business courses, it may be a bit difficult, as scholarships are not offered and the cost of pursuing the program is relatively high.

    However, the University of British Columbia, York University, University of Alberta and so many others give the opportunity to the students to avail their scholarships to get a degree that too with lowest academic fees.

    The yearly course fee ranges from CAD 27000 to CAD 74090 based on the universities and specializations.

    Business Colleges in Canada: Postgraduate Programs

    At the very beginning, it was mentioned that MBA is the most preferred course in Canada among international students. The reason behind this is very clear: job prospects and cushy median salaries.

    Duration: MBA programs are supposed to be for 2 years. But, the duration of Executive MBA is 13 months. Find out the most preferred MBA programs in Canadian colleges at present by the international students here.

    Program  University  Duration  Yearly fees in CAD
    Masters of business administration (specialization: management) University of Toronto 2 years $83,399
    Masters of business administration (specialization: business analytics) McGill University 2 years $60,792
    Masters in Business Administration  The University of British Columbia 2 years $85,489
    Masters in Business Administration  York University 2 years $72,190
    Master of Business Administration University Canada West 2 years  $22,037.25
    Executive MBA Western university 12-13 months $90,808.66
    MBA in Finance University of Alberta 2 years $39,515.06

    Other popular masters in business degrees in Canada include:

    Business Colleges in Canada: Eligibility for Masters

    The admission requirements for the postgraduate business courses in Canada includes

    • Proficiency in the English language, i.e. a decent score in IELTS or TOEFL.
    • There are a few universities, which look for mathematics as a compulsory subject upto 12th grade.
    • GMAT scores are also given much priority by the universities and colleges of Canada.
    • Statement of Purpose for MS in Canada

    The universities listed in the table above, mostly ask for a 90 or above score in TOEFL. GMAT score is taken as an added advantage in the MBA programs. Plus, a bachelor's degree of 4 years or equivalent is also mandatory for an MBA course in Canada.

    Just like the undergraduate courses, the eligibility criteria may vary and students may need to qualify some other entrance to get the admission in their desired colleges.

    Business Colleges in Canada: Fees and Funding for Masters

    Most of the universities offer scholarships and have unique facilities, which enhance the rate of international students in Canadian universities each year to 5.9%.

    The students can expect 25-50% fee relaxation with the scholarship in these universities. There are universities, which provide accommodation too. Therefore, a student needs to make a very smart choice at the time of selecting the college or university for their postgraduate business degree.

    The approximate expenditure of the MBA program in Canada ranges from $22,000 to $90,000, but it can easily reduce to half with the use of the scholarships.

    Business Colleges in Canada: Doctoral Programs

    Students who have received a placement, but need a better designation very often opt for the doctoral degrees in business. For this purpose, the college and universities of Canada are not disappointing at all. Doctoral degrees in business from Canadian colleges are very reliable and globally accepted.

    Duration: The duration of the doctoral courses are mostly 4 years. There are a few colleges, which provide Ph.D. degrees in business, and the following ones are very popular among international students. Check the table below to know more.

    Program  University  Duration  Yearly fees in CAD
    Doctor of Business Administration Royal Roads University 4 years $21,478.64
    Business Administration (Management), Ph.D. Saint Mary's University Sobey School of Business 3 years $ 14,597.43
    Ph.D. in business Administration McMaster University 4 years $7,003.37
    Doctorate in Business Administration Athabasca University 4 years $13,395

    In Royal Roads University, the score of this general test is checked before giving the opportunity to the student.

    Business Colleges in Canada: Eligibility for PhD

    To get admission to the doctoral courses, a student has to get a higher score in IELTS or TOEFL test. Language proficiency is something that is considered to be mandatory to get enrolled in the doctoral courses of business in Canadian colleges. Along with this, a candidate may need to clear an entrance test in that specific university snd provide a Statement of purpose for studying in Canada.

    Business Colleges in Canada: Fees & Funding for PhD

    For a doctoral course in business, a student has to spend approximately $7,000 to $21,000 a year as their tuition fees. In addition, there are several colleges where a student with a master’s degree in the equivalent field can get admission with benefits of availing scholarships.

    Most of the universities and colleges with the facility of scholarships often have a limited number of seats for international students. Therefore, students must have the track of the latest notifications in the official site of the universities to apply timely.

    Business Colleges in Canada: Scholarships Offered

    The cost of studying in Canada will also include your expense of living in Canada, which can add drastically to the sum required to sustain in the country. International students can always avail of various scholarships offered for studying in Canada. Some of the popular ones are listed below:

    Scholarship Scholarship is given by Scholarship is given to Amount of the scholarship
    Lester B. Pearson International Scholarships University of Toronto International students with academic excellence Tuition, books, incidental fees
    Carleton University Awards for International Students Authority of the university All graduate students Varies
    Dalhousie University Scholarship Authority of the university All graduate students Varies
    University of British Columbia Scholarships for International Students University of British Columbia Undergraduate International students Tuition and books
    BBA Entrance Scholarships @ HEC Montréal HEC Montréal. No separate application is required. US International students of BBA $7500
    York University International Student Scholarship York University International students with academic excellence CAD$60,000-$100,000
    Vanier Canada Graduate Scholarships Government of Canada Doctoral students CAD$50,000

    These scholarship amounts show that a qualified student will be given sufficient support from the university as well as from the government of Canada too, so that he or she can continue his or her studies.

    Business Colleges in Canada: Jobs and Salaries

    From a basic bachelor's degree in business to a doctorate, with each added qualification there is not just a rise in the number of opportunities to avail but also a hike in the salary package. Detailing the hike in the sector with other important statistics is an infographic:

    Scope in business courses in Canada

    With various sectors to explore, a business student can earn the following salaries in Canada at the mentioned job roles:

    Designation  Salary range per annum in CAD
    Marketing professional  $60,000-$1,10,000
    Financial advisors $78,416-$1,24,000
    Legal advisor $87,627-$1,18,000
    Business planners $54,052-$1,35,000
    IT professionals $80,700-$2,21000
    HRM $65,000-$2,15,000

    With cushy median salaries and an increment of 12% per year, business and related industries are booming at a great pace. This makes studying business from Canada a lucrative program option. Settling in Canada with a business degree is also easy because of the lenient immigration laws and welcoming nature of the citizens.

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