collageHome to around more than 100 higher educaton 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. As per the latest statistics, 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.
As per Financial Times MBA Rankings 2020, only three business schools in Canada 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 cost of pursuing an MBA degree from these prestigious business schools ranges from 16,000 to 80,000 USD.
Why Study MBA in Canada?
- Nine Canadian universities made it to the top 150 univeristies for MBA globally, as per QS MBA Rankings (2020).
- A business degree in Canada is considered to be among top 10 subjects with 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.
- Financial services sector particularly stays strong in Canada, with a growth of around 11.6% in past ten years (2007-2017). The opportunities to work in the sector are higher for an MBA graduate in Canada.
- With a support towards SMEs and start-ups, the doors of enterpreneurship are always open for an MBA graduate in Canada.
Top MBA Universities 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 Fees (USD/year) | Percentage of International Students |
|---|---|---|---|---|
| 54 | University of Toronto | Rotman School of Management (2 year) | 44,587 | 58% (MBA Class-2021) |
| 71 | McGill University | Desautels Faculty of Management (1 year to 20 months) | 34,970 | 60% |
| 75 | University of Western Ontario | Ivey Business School (1 year) | 88125 | 30% |
| 78 | Queen’s University | Smith School of Business (1 year) | 71250 | 42% |
| 83 | York University | Schulich School of Business (16-20 months) | 39030 | – |
| 101-110 | University of Alberta | Alberta School of Business (20 months) | 16287 | 49% |
| 111-120 | University of British Columbia | Sauder School of Business (16 months) | 46835 | – |
| 111-120 | Concordia University | John Molson School of Business (16 months) | 30975 | – |
Types of MBA in Canada
There are several kinds of MBA degrees offered in Canada to suit 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, 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 provide 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 (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
In Canada, the difference between MBA Full-Time and PGDM is pretty clear. Given below is a table showcasing a clear-cut distinction between the two programs.
| Categories | MBA | PGDM |
|---|---|---|
| Full Form | Master of Business Administration | Post Graduate Diploma in Management |
| Type | Full-fledged Degree | Diploma |
| Coverage | A comprehensive program covering the entire curriculum | Focuses on a specific area of Management. |
| Duration | Two-year | 12 weeks (Varies) |
| Credits | 180 | 120 |
| 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 |
Requirements for MBA in Canada
International applicants planning to pursue an MBA from Canada, must ensure that fulfill the basic requriements 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 an 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.
Eligibility for MBA in Canada
International students must note that some important requirements that are to fulfilled for pursuing MBA in Canada include 4-year undegraduate 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:Looking for Admissions here? or need Help?Register Now
| 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) | Required- 550 Average- 669 | Required- 2 Average- 5 | 7.0 | 100 (iBT) | Required |
| McGill University | Relevant bachelors degree | Required- 550 Average- 660 | Required- 2 Average- 5 | 7.0 | 100 (iBT) 600 (pBT) | Required |
| Ivery Business School | Relevant UG degree | Required- 550 Average- 667 | Requried- 2 Average- 4.8 | 7.0 | 100 (iBT) | Required |
| Smith School of Business | 75% (B+ on grade scale) | Required- 600 Average- 654 | Required- 2 Average- 4.4 | 7.0 | 96 (iBT) | Required |
| Schulich School of Business | UG degree (B+ grade) | Required- 550 Average- 660 | Required- 2 | 7.0 | 100 (iBT) | Required |
| Alberta School of Business | 80% or more | Required- 550 Average- 612 | Required- 2 Average- 5.4 | 7.0 | 100 (iBT) | Required |
| Sauder School of Business | B+ grade | Required- 550 Average- 650 | Required- 2 Average- 3 to 5 | 7.0 | 100 (iBT) | Required |
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.
Documents Required for MBA in Canada
- 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 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, New York Institute of Technology, Vancouver, BC 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.
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.
Pre-arrival Costs
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** |
| Health Insurance | 10,000 |
| IELTS Fees | 185-190 |
| TOEFL Fees | 160-250 |
| Airfare | 450-1400 |
*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 is detailed above. However, it can be said that the tuition fees for the whole program ranges between 32,574 USD to 89,174 USD. This will mean that an Indian srtudent 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 annula tuition in the graphical representaion below:
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 |
| Accommodations | 4,500-10,000 |
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 desinations 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 |
| General Manager | 180,000 |
| Manager | 204,000 |
| Project Manager | 138,000 |
| Business Advisor | 141,000 |
| Strategy Director | 200,000 |
So except for blessing the world with intellectuals like Justin Trudeau, Canada has also management 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.
According to the QS World University Rankings of 2018, seven of the world’s top 150 universities are based in Canada. Also, being one of the safest places to live in the world and tagged as the world’s most educated country, Canada is becoming a haven for international students. According to the Canadian Bureau of International Education, there were 3,53,000 international students in the country with a surge rate of over 90% since 2008. In this article, we’ll look at studying in Canada from an international student’s perspective with an MBA degree in focus. We will also inform you about the duration of the course, fee-structure, living cost, eligibility criteria and post-study opportunities for pursuing the MBA program in Canada.
Why Canada?
The booming economy and the cultural diversity of this country attract students from across the globe. High living standards, affordable and quality education, multicultural exposure and friendly post-study or working rules make this country a hot favorite among the international students. It is amongst the five destinations in the world to pursue higher education.
Major cities in Canada
- Vancouver
- Montréal
- Québec City
- Toronto
Advantages of pursuing MBA?
With a good MBA degree, one can learn ways to manage businesses more effectively. MBA is fruitful for those who wanted to gain management skills within a business environment. Companies also prefer those professionals to overtake leadership roles who have great communication skills and the ability to solve complex issues in a difficult business environment.
Benefits of pursuing MBA from Canada are:
- Admission and visa process is simple.
- Education institutes/Colleges in Canada offer internationally recognized degrees at an affordable cost.
- Business programs offered by Canadian institutes give a boost to the careers of the MBA professionals, thus ultimately enhancing their earning potential.
- The internship programs help the students to get an insight of the industry.
- The MBA degree imbibes real-world knowledge, so, the MBA professionals get to learn various nuances of the business world.
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Cost/Quality of Life
Canada offers a high-quality lifestyle to its citizens and the state also provides various benefits to its citizens. The state offers world-class health services to its citizens and that too free. The average MBA tuition fee in Canada costs around $30,000 – $40,000, which is far less in comparison to what US universities charge. So, the overall MBA in Canada costs less than what it is in the US.
Note: Quality of life also depends on the city and lifestyle of the individual.
MBA in top Business Schools in Canada
| College/University | Duration | Tuition Fee (for 1st year) |
|---|---|---|
| Rotman School of Management | 2 years | CAD 59,450 |
| Queen’s Smith School of Business | 1 year | CAD 91,000 |
| York University – Schulich | 2 years | CAD 52,040 |
| McGill Desautel | 20 months | CAD 44,500 |
| University of Alberta | 20 months | CAD 16,520 |
| HEC Montréal | 1 year | CAD 49,000 |
| UBC Sauder | 16 months | CAD 60,045 |
| Ivey Business School | 1 year | CAD 1,11,750 |
(Source: Shikshastudyabraod.com)
Scholarships/Financial aid
Being a professional course there is a limited scope of getting financial aid for international students for pursuing an MBA program in Canada. However, some students can get scholarships based on their excellent academic and other achievements relevant to the program. Many a times students are awarded part waiver because of the top scores in GMAT and other academic achievements. Apart from this, candidates can apply to these popular scholarship programs:
- Ontario Graduate Scholarships (OGS): The aim of this fellowship is to provide quality education at the masters and doctoral levels. It is funded by the government.
- University of Waterloo Graduate Scholarship: The University of Waterloo offers this scholarship to meritorious students who are pursuing graduate studies.
- Central Sector Scheme of National Overseas Scholarship for SC etc. candidates- (All countries except UK): This scholarship is awarded to the meritorious students who wish to pursue masters or Ph.D. abroad.
- Go Clean Scholarship: This scholarship is awarded to meritorious students and wants to pursue their higher studies abroad.
Eligibility/Requirements for studying MBA in Canada
Some of the basic requirements for getting admission in MBA programs:
- Bachelor’s degree: The candidate must have a bachelor degree from a recognized university/institution.
- Work experience: The candidate must have relevant work experience as universities give preference to those who obtained work experience. It is not a mandatory requirement, however, it gives an edge to the aspirants over others.
- English Language Proficiency: If the candidates belong to non-native English speaking country then they need to prove their English language proficiency. They need to secure a good IELTS or TOEFL score for securing admission.
- GMAT: A good GMAT score is required to get into a top university/college to pursue an MBA program in Canada.
Application Process
As the whole application process is quite lengthy make sure to apply at least 15 to 18 months before the beginning of your target session. Also, you can get the application forms for most of the universities on their official websites.
Documents required for the application process:
- Academic record: It includes all documents related to your graduate program.
- Standard admission tests: GMAT test scores and English language proficiency test (TOEFL/IELTS) scores.
- Bank statements and financial documents.
- Work experience: Documents highlighting your work experience.
- Letter of recommendations from your existing and previous supervisors. It can be your current and previous managers/supervisors and your graduate faculty who have judged your work closely.
- Admission Essay or Statement of Purpose: It is one of the key elements of the application. This helps the admissions committee to evaluate the aspirant.
- Visa documents: Documents related to visa.
Salary/Job opportunities after MBA
There is no dearth of opportunities for the right candidate. MBA graduates are paid amongst the best in the world. After completing their MBA program, they can work in various sectors like:
- Accounting and consultancy
- IT services
- Health industry
- Education
- Oil and Gas
- Legal jobs
Apart from this, MBA graduates can also work for various departments of the Canadian government and help in running the administration effectively. Moreover, management graduates can also work in technical management, sales, marketing, product and project management.
Post-Study Rules
International students who pursued their MBA from an institution approved by the provincial or territorial government are eligible to apply for a Post-Graduation Work Permit (PGWP). Those who are pursuing 2 year MBA program can stay up to one more year after completion of their course. Also, the programs where time duration ranges from 8 months to 2 years, students can stay up to the length of the study program. Apart from this, qualified students can also apply for permanent residency through the Express Entry program.
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