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Studying in Canada is one of the most common dreams of international students. Be it postgraduate or MBA courses, Canada, with its top-notch educational system remains one of the most preferred education destinations. Having a dedicated education system, Universities in Canada are internationally recognized. This article will take you through an MBA in Canada and everything you need to know to succeed.

Why study in Canada?

Canada is home to more than 92 institutions and 175 technical institutes providing a pool of professional, academic, and other vocational programs at various levels, having its MBA programs as one of the most preferred by international students.

Did you know, according to CIC News, Canada now ranks third globally in attracting foreign students? In a total of 6,40,000 international students, 34% are Indians students in Canada. But what makes Canada the most preferred educational destination?

Top Reasons why you should study in Canada

  • High-quality education: One of the most important reasons why study in Canada is most preferred by international students is because of the academic excellence its institutions offer.
    According to QS World University Rankings, 26 of the Canadian Universities ranked under the top 100 best universities in the year 2019 thereby attracting students from worldwide to gather practical knowledge and experience.
  • Work and Earn: Another major factor that attracts students to Canada is the opportunity to earn while studying. The Canadian government allows international students to earn money while studying and bearing living costs and other expenses. This helps students not only earn extra bucks but also adds on to their work experience acquired.
MBA in Canada
Why study MBA in Canada?
  • Availability of Scholarships: Canadian Universities provide a significant number of scholarship opportunities for international students. Moreover, there are several non-government & university-specific scholarships also easily accessible. The availability of scholarships and university-specific financial aid programs also cut down the educational expenses for international students.
  • Affordable cost of education: The cost of education in Canada is less expensive as compared to the universities in the US and UK. Moreover, the return on investment is decent and almost fits the budget for those looking for higher education in Canada.
  • Language of Instruction: One of the biggest factors that affect a student’s study abroad dream is the language of instruction. Most of the courses at Canadian University have English as their major language of instruction. Moreover, students are given freewill to adopt either English or French as their primary language.

List of 45 Business Schools in Canada

For those students who are wondering which are the best MBA programs in Canada must first look at the list of business schools providing a competitive edge via their Master’s in Business Administration programs in Canada:

  1. McGill University – Desautels Faculty of Management
  2. HEC Montréal
  3. University of Toronto Joseph L. Rotman School of Management
  4. University of British Columbia Sauder School of Business
  5. York University Schulich School of Business
  6. Western University – Ivey Business School
  7. Smith School of Business – Queen’s University
  8. Simon Fraser University – Beedie School of Business
  9. Concordia University John Molson School of Business
  10. University of Alberta – Alberta School of Business
  11. University of Ottawa – Telfer School of Management
  12. McMaster University Michael G. Degroote School of Business
  13. Université du Québec à Montréal (Uqam) École des Sciences de la Gestion (ESG)
  14. Université Laval Faculté Des Sciences De L’administration
  15. University of Calgary Haskayne School of Business
  16. University of Victoria Peter B. Gustavson School of Business
  17. Brock University – Goodman School of Business
  18. Carleton University Sprott School of Business
  19. Dalhousie University Faculty of Management
  20. Wilfrid Laurier University – Lazaridis School of Business & Economics
  21. University of Manitoba Asper School of Business
  22. Saint Mary’s University Sobey School of Business
  23. University of New Brunswick Faculty of Business
  24. University of Saskatchewan – Edwards School of Business
  25. Memorial University of Newfoundland – Faculty of Business Administration
  26. Université de Sherbrooke Ecole de Gestion
  27. College of Business and Economics-University of Guelph
  28. Faculty of Business& Economics- University of Winnipeg
  29. Faculty of Management- University of Lethbridge
  30. Laurentian University, Faculty of Management, Sudbury
  31. Conrad School of Entrepreneurship and Business (University of Waterloo)
  32. Ryerson University – Ted Rogers School of Management
  33. The University of Regina – Kenneth Levene Graduate School of Business
  34. University of Windsor – Odette School of Business
  35. Thompson Rivers University (TRU)
  36. Cape Breton University – Shannon School of Business
  37. Lakehead University – Faculty of Business Administration
  38. Royal Military College of Canada
  39. Université de Moncton – Campus De Moncton
  40. Fairleigh Dickinson University
  41. Trinity Western University
  42. Redekop School of Business (Canadian Mennonite University)
  43. Gerald Schwartz School of Business
  44. George Brown College – Centre for Business
  45. School of Business (University of Prince Edward Island)

Eligibility for MBA in Canada

To apply for an MBA in Canada, applicants must take a look at the eligibility requirements of the designated college/ university prior to applying for admission. As most colleges/ universities have slightly different eligibility criteria, let us take a look at the most commonly accepted criteria for admission to MBA Canada:

MBA in Canada: An Ultimate Guide; Top 45 B Schools; Courses; Visa Application and more 1
MBA in Canada: Eligibility Criteria
  • Graduate degree: Applicants wanting to pursue one of the best MBA programs in Canada must hold at least a graduate degree in any of the disciplines.
  • Candidates applying for MBA in Canada must remember that a candidate must have a four-year graduate degree to be eligible for MBA in Canada.
  • Professional Work-Experience: To be eligible for an MBA in Canada, having a professional experience is a must and for most colleges, applicants must have a prior work-exp minimum of 2.5 years. (internships experience is usually not counted).
  • Good GMAT/GRE score: Universities, institutes, business schools in Canada require a good score in GMAT/ GRE. Applicants have to send the scores (GMAT/GRE) directly from the testing service organization by using the codes given on the official website of the designated college/ university.
  • English Proficiency: Applicants must be able to speak and understand fluently in the English language. To submit a proof of English language proficiency, applicants must demonstrate their proficiency by submitting scores from one of the following: IELTS indicator test, TOEFL, Michigan English language Assessment Battery (MELAB), Person Test of English (PTE), Canadian Academic English Language Test (CAEL).
  • Applicants must refer to the specific guidelines mentioned on the official website of the designated institute/ university for information regarding minimum test scores and other eligibility criteria.

How to apply for MBA in Canada?

The application process for most of the Canadian institutes/ universities varies as per their admission policies. Take a look at the most common way to apply for admission to best MBA programs in Canadian Universities:

MBA in Canada: An Ultimate Guide; Top 45 B Schools; Courses; Visa Application and more 2
MBA in Canada: How to apply
  • Step 1 Register for online application: The candidates who want to study MBA in Canada must log in to the official website of the designated college/ university (i.e. college/ university of their choice). The candidates must review and ensure that they understand the components of the application before submitting it.
  • Step 2 Submit supporting documents: Candidates are required to submit supporting documents within the timeline provided on the college website. The applications submitted are then reviewed by the admission committee and furthers the application process.
  • Step 3 Wait for results: After the documents and application have been submitted, the candidates must wait for the admission committee to review their application. Candidates are required to log back into the online application and check the application status. Once done, the admission committee member would contact the candidate and notify the results.

How to get Study Permit/ Canadian Visa?

Students wanting to study in Canada must acquire Canadian Visa or study permit to be able to pursue a course/ program of choice in Canada. Take a look at the following points:

  • Students seeking Canadian Visa are required to submit a Visa application at the respective visa office.
  • The documents that need to be submitted for verification of details are:
    • Acceptance Letter: In order to pursue studies in Canada, international students are required to have a letter of acceptance from the designated college/ university. The study permit includes the original documents along with a letter of acceptance from where you wish to study in Canada.
    • Passport: Students must have a passport that shall be valid for their entire stay in Canada.
    • Photographs and other documents: Students shall submit their passport-sized photographs as per the given specifications.
    • Proof of financial support: Students shall also declare their financial funds and resources as proof of their ability to pay the cost of living and other expenses.
    • Entrance Exam Certificates: Students will have to submit the scorecards of entrance exams like GMAT/ GRE at the time of the Canadian student visa application.
    • Along with entrance examination scorecards, students shall also submit English language certificates i.e. IELTS or TOEFL are accepted.

MBA in Canada: Tuition Fees, Cost of Living and other expenses

One of the major factors that influence an international student’s decision of studying MBA in Canada is the tuition fees, the cost of living, and other expenses while they stay abroad. The cost of living varies greatly depending on the candidate’s lifestyle, budget, and spending habits, but the estimated costs below will give the students a general idea of all the costs.

Students must remember that all the expenses are in Canadian dollars (CAD).

To apply for the full-time MBA program in Canada, all the applicants (both Canadian and international) have to pay a non-refundable application fee of around $145 CAD fee* before the application is processed.

*The application fee may vary for international students and depending on the institute/ university.

Take a look at the table below to get a general idea of the cost of education in Canada:

MBA in Canada: An Ultimate Guide; Top 45 B Schools; Courses; Visa Application and more 3
MBA in Canada: Cost of application

For international students who want to study MBA in Canada, the following approximate tuition fee and academic expenses are incurred:

MBA in Canada: An Ultimate Guide; Top 45 B Schools; Courses; Visa Application and more 4
MBA Canada approximate tuition fee details

*the tuition fees mentioned in the above table shows approximate values as different universities/ colleges charge different tuition fees. Therefore, before applying, candidates are requested to visit the official website of the designated university/ college.

What is the Cost of Living in Canada?

The cost of living in Canada depends on a number of factors. While most students look for low-cost MBA in Canada, the chances of finding which are narrow as the total cost of education are only limited to tuition fees itself but rather includes the total cost of living in Canada. Therefore, students must have the right information before applying for MBA Canada.

The following is an estimate of the minimum funds a single student will need for living expenses for the first 12 months of their MBA in Canada:

MBA in Canada: An Ultimate Guide; Top 45 B Schools; Courses; Visa Application and more 5
Cost of Living in Canada

How to study low cost MBA in Canada?

As the educational costs and the cost of living in Canada are slightly less expensive than most of the US or UK universities, many international students may still want to look for the cheapest MBA in Canada.

Although the tuition fees and other costs of living are towards the high side, students may avail scholarships offered by various business schools and universities. Take a look at the following to pursue low-cost MBA in Canada:

  • Joseph L. Rotman Scholarship
  • Ontario Graduate Scholarships
  • York University International Student Scholarship Program
  • QS Leadership Scholarships
  • Rodney E Schneck Prize in Organizational Analysis – University of Alberta

Are there other ways to avail cheapest MBA in Canada?

Yes, many Canadian Universities/ institutes offer international students with financial aids. All the international students who are admitted to the full-time MBA program in Canada are eligible to apply for a loan with the Royal Bank of Canada or other banks associated with the university or organization. These loans can help international students avail low cost MBA in Canada.

How to get Scholarships in Canada?

  1. Studying in Canada is not cheap and thus international students need prior arrangements in terms of their finances.
  2. Most of the Canadian Universities and institutes offer Study abroad scholarships which give international students in terms of reduction in application fee or overall educational expenses.
  3. Although Canadian Scholarships are limited and highly competitive, therefore these financial aides are mostly available for post-graduate and professional courses.
  4. Candidates must visit the official website of the college/university they are applying to and look for any financial aid or scholarships available for international students.
  5. International students can avail of these scholarships considering they apply for it prior to seeking admission in the respective university/institute as most of the scholarships are specific to the institutes.

Top 10 MBA programs in Canada

According to the QS Global MBA Rankings, the top MBA programs in Canada are as follows:

  1. University of Toronto Joseph L. Rotman School of Management
  2. McGill University – Desautels Faculty of Management
  3. Western University – Ivey Business School
  4. Smith School of Business – Queen’s University
  5. York University Schulich School of Business
  6. University of Alberta – Alberta School of Business
  7. University of British Columbia Sauder School of Business
  8. Concordia University John Molson School of Business
  9. HEC Montréal
  10. Saint Mary’s University Sobey School of Business

Job opportunities for MBA Canada graduates

International students pursuing their MBA in Canada can expect various job opportunities in their choice of areas. To know what the job opportunities available are for MBA graduates in Canada, let’s first take a look at the latest job profiles/roles most MBA find work in:

  1. Marketing Executive
  2. Business Analyst
  3. Executive Assistant
  4. Human Resources Generalist (Executive)
  5. Investment analyst
  6. Operations Leader
  7. Senior Product Manager
  8. Forecasting Manager
  9. Sourcing Specialist
  10. Business Development Strategist
  11. Marketing Strategist and Innovation Director
  12. Project Manager
  13. Investment analyst

List of MBA specializations

Many Canadian Universities offer Full-time, Part time, executive and other professional MBA programs. Let’s take a look at some of the MBA specializations in Canada:

  1. Accounting
  2. Business & Sustainability
  3. Entrepreneurial Studies
  4. Financial Risk Management
  5. Global Mining Management
  6. Health Industry Management
  7. Marketing
  8. Organization Studies
  9. Social Sector Management
  10. Business Consulting
  11. Finance
  12. Financial Services
  13. Funds Management
  14. Global Retail Management
  15. International Business
  16. Operations Management & Information Systems
  17. Real Estate & Infrastructure
  18. Risk Management and Financial Engineering
  19. Social Impact and Sustainability
  20. Strategic Management
  21. Corporate Strategy & Leadership
  22. International Management
  23. Digital Transformation
  24. Management Analytics
  25. Project Management

Summing up

In the above article, we discussed in detail about MBA in Canada, the eligibility criteria for international students, and other significant facts. Although studying abroad is a dream for many students it is equally important for students to be aware of everything that it takes to pursue higher education in Canada.

In case you still have doubts or want career guidance before taking any final decision, you must consult career counselors and take the first step towards making your dreams come true!

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