MBA in Canada: A Student's Guide to  Management Opportunities

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MBA in Canada: A Student's Guide to  Management Opportunities

Monday, 22 November 2021 | Agencies

MBA in Canada: A Student's Guide to  Management Opportunities

Pursuing MBA from Canada can be a life-changer opportunity for students. With more than analysing spreadsheets and making business reports, it aims to develop required skills to tackle dynamic business-world problems. Canada as a country offers a number of MBA programs and has 9 universities ranked among top 150 MBA universities by QS Rankings.

As per QS MBA Rating, the total course fees for tier-1 business schools in Canada like Rotman School of Management cost around 131,120 CAD. However, tier-2 universities like John Molson School of Business cost around 41,500 CAD. An Indian student willing to study in Canada can expect a budget between 60 lakhs to 80 lakhs for Tier-1 universities and 10 lakhs to 40 lakhs for tier 2 universities.

Over a span of 10 years, the number of immigrants to Canada has increased from 122,660 to 530,540, marking the average growth percentage 23%. As compared to other countries, pursuing an MBA degree in Canada is a great choice as it offers world-class education, access to top learning resources, high standard of living, cultural exposure and a lot more to aspirants. .

Benefits of Pursuing MBA in Canada

Pursuing MBA in Canada opens a plethora of opportunities and work-opportunities for both domestic and international students. From on-campus training to internships, students are put under various situations that improvise one's overall growth. Therefore, MBA as a degree comes with a lot of benefits and some of them are mentioned below.

  • Simple and easy vIsa and admission process, especially for Indians.
  • Get internationally recognized degrees at affordable costs. Avail benefits from numerous scholarships.
  • Access to premier internship programs with acclaimed MNCs allows one to get detailed insight into the industry practices.
  • Elevated standards of living in a country that values diversity make for a rich and homely experience.
  • The Canadian government provides health insurance for students allowing for timely care of students during any health issues.
  • International students are eligible to work in Canada under the post-graduate work permit after completing their MBA. This provides an opportunity to apply for permanent residencies later on.
  • An MBA degree in Canada is regarded among the ten subjects with the highest graduate salary.

Types of MBA Programs in Canada

Students willing to pursue MBA from top colleges/ educational institutes can choose from Part-time, Full-time and Executive MBA courses.

Full-Time MBA: It is a two-year course where aspirants have a choice to study full-time. This course is best for students who can give full time to study. The scores obtained in the language proficiency test and GMAT are required to get admission in a full-time MBA course in Canada.

Part-Time MBA: A Part-Time MBA is of a longer duration as compared to a Full-Time MBA course. For working professionals, this course is more suitable because they can complete their degree alongside the work. The minimum duration of the course is around 3 and the maximum duration is 6 years.

International MBA (IMBA): The duration of IMBA is around 20 to 28 months. Here, foreign students are exposed to a global experience through an integrated curriculum, global courses, international field study, and many other modes.

Executive MBA: Along with classroom experience, aspirants who want to get practical corporate knowledge can study Executive MBA. It is a 13-month course and results in both professional and personal growth. To get admission to the Executive MBA program in Canada, candidates should have at least 8 to 10 years of previous work experience.

Apart from these courses, foreign students can go for joint MBA degrees like a combination of engineering, law, pharmacy, with global affairs and dual degrees in Canada.

Requirements for Studying MBA in Canada

Every university has its own set of requirements. However, some of the common eligibility requirements are mentioned below,

  • Bachelor's Degree: Candidates should possess a bachelor's degree from a recognized institution/ university.
  • English Language Proficiency: For international students, an English Language Proficiency test is required to get admission. To get admission, candidates need to secure a good score in TOEFL or IELTS.
  • GMAT or GRE Score: To pursue MBA in Canada in the top college/ university, a good score in GMAT is required. GRE scores are also accepted by some universities/ colleges.
  • Work Experience: Priority will be given to those candidates who have previous work experience. It is not mandatory.

Application Process for Studying MBA in Canada

Students willing to study in Canada must know that the application process is quite lengthy. Therefore, candidates are required to apply at least 15 to 18 months before the target session begins. Candidates can get the application form on the official websites of the college/ universities. Hence, the documents required to get admission in MBA in Canada are mentioned below:

  • Academic records.
  • Standard tests in Canada.
  • Financial documents and bank statements.
  • Work experience.
  • Letter of recommendations.
  • Statement of purpose for Canada.
  • Visa documents.

Fees for MBA Courses in Canada

On an average, tuition fee to pursue MBA in Canada is around 40,000 CAD to 120,000 CAD (23-70 lakhs)  at top universities. Compared to other top countries to  study abroad, the cost of study in Canada is affordable.

If you are planning to study at top business colleges in Canada then, it will cost you around 40,500 CAD to 131,120 CAD. Whereas the tuition fees for mid-range B-schools will come around 25,000 CAD to 40,000 CAD (15-23 lakhs). Therefore, some of the top college/ universities in Canada with fees and duration is given in the below

Name of the B-school

Name of the University

Duration of the Program

Total Tuition Fees (CAD)

Rotman School of Management

Toronto University

2 years

131,120

Desautels Faculty of Management

McGill University

2 years

99,500

Ivey Business School

University of Western Ontario

1 year

120,500

Schulich School of Business

York University

1 year

106,900

Smith School of Business

Queen's University

1 year

102,100

Sauder School of Business

University of British Columbia

16 months

90,057

John Molson School of Business

Concordia University

16 months

41,500

Alberta School of Business

University of Alberta

2 years

60,000

Beedie School of Business

Simon Fraser University

16 months

55,825

Cost of Living In Canada

The cost of living in Canada includes various expenses such as transportation, accommodation, personal expenses, etc. The cost of living varies as per the city and it comes within the range of CAD 1900 to 2,400 CAD per month including accommodation costs. The cost and type of expenses that student must know are given in the below table:

Type of Expense

 

Cost  (CAD)

Accommodation

1300 to 3500

Book and Material

208

Food and Beverage

200 to 800

Entertainment

100 to 210

Utilities

510

Clothing

50

Other related expenses

100 to 210

Scope for MBA in Canada

MBA graduates are the highest paid in the world and after completion, there are a number of opportunities in various sectors. IT, Health industry, consultancy, accounting education, legal jobs etc, are some of the opportunities that one can have after MBA. Besides these, MBA graduates can work in different departments of the government of Canada and also help to run an effective administration. Moreover, management graduates can work in sales, technical management, product management, and marketing products.

A graduate with an MBA who completed two years of master's degree course from a Canadian university can get a work permit of 3 years to work in Canada and can draw an average salary of 88,000 CAD to 98,000 CAD yearly.

Salary of MBA in Canada

Earning a degree in MBA from Canada, can open up diverse employment opportunities. Graduates can choose between Canadian SMEs, startups and top MNC jobs. Some of the popular MBA in Canada job titles with average salary are tabulated below.

Job Title

Average Salary in CAD

Project Manager

84,933

Financial Controller

90,246

Marketing Manager

74,950

HR Manager

76,977

Chief Financial Officer (CFO)

151,882

Senior Business Analyst

84,344

Business Development Manager

73,693

Getting an MBA degree from a Canadian Institution will open doors to new challenges across the globe. Every year, millions of people choose to study in Canadian MBA colleges and universities thanks to internships with reputed management firms and visa flexibility. Thus, among the international students, Canada is regarded as one of the most searched countries for MBA courses for excellent scope and state of art universities.

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