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Ameer Khatri MBA Consultant
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MBA in Canada

August 31, 2023

650

Avg. GMAT

24

Avg. Age

 CAD 60K

Avg. Cost of Study

1-2 Yrs 

Months Duration 

CAD 100K

Avg. Salary

Table of Contents

Why Study MBA in Canada?

Canada is a great place to study an MBA for a number of reasons. The country has a strong economy, welcoming immigration policies, and diverse population. Canadian universities are also consistently ranked among the best in the world, and the cost of studying an MBA in Canada is much lower than in other countries like the United States and the United Kingdom.

After graduating from an MBA program in Canada, you will have access to a wide range of job opportunities in a variety of industries. You may also be eligible to apply for a post-graduate work permit, which allows you to work in Canada for up to three years. This can give you the opportunity to gain Canadian work experience and eventually apply for permanent residency.

If you are looking for a high-quality, affordable, and rewarding MBA experience, then Canada is a great option.

Here are some of the specific benefits of studying an MBA in Canada:

  • Quality of education: Canadian universities are consistently ranked among the best in the world.
  • Affordability: The cost of studying an MBA in Canada is much lower than in other countries like the United States and the United Kingdom.
  • Work opportunities: Canada is a major economic powerhouse with a strong job market.
  • Immigration opportunities: Canada is a welcoming country for international students.
  • Diversity: Canada is a multicultural country with a diverse population.
  • Quality of life: Canada is ranked as one of the best countries in the world to live in.

If you are interested in studying an MBA in Canada, I encourage you to research the different programs available and find one that is a good fit for you.

Types of MBA offered in Canada

In Canada, there are various types of MBA programs offered to cater to the diverse needs and preferences of students. Some of the types of MBA programs available in Canada include:

  1. Full-Time MBA: This is a traditional MBA program that requires students to dedicate their full time to studies. The duration of a full-time MBA in Canada is typically around 1-2 years.

  2. Part-Time MBA: Part-time MBA programs are designed for working professionals who want to pursue an MBA alongside their job. The duration of a part-time MBA in Canada can range from 3-6 years, allowing students to balance their work and studies.

  3. Online MBA: Online MBA programs provide flexibility and convenience for students who prefer to study remotely. These programs allow students to access course materials and lectures online, providing a self-paced learning experience.

  4. Executive MBA (EMBA): EMBA programs are specifically designed for experienced professionals and executives who want to enhance their leadership skills and strategic thinking. These programs often have a higher level of work experience requirements and are structured to accommodate the busy schedules of working professionals.

  5. Specialized MBA: Many Canadian universities offer specialized MBA programs that focus on specific industries or functional areas. Some examples include MBA programs with specializations in finance, marketing, entrepreneurship, healthcare management, and technology management.

It is important to note that the availability of these MBA program types may vary depending on the university.

Program Costs + Living Expenses : MBA in Canada

CAD 40,000

Avg. Tuition Fee

CAD 20,000

Avg. Living Cost

CAD 150

Avg. Visa Charges

60,150

Avg. Cost of Study

The average tuition fees for an MBA in Canada are CAD 30,000-40,000 per year. However, the cost can vary depending on the university and program. For example, the tuition fees for an MBA at the University of Toronto Rotman School of Management are CAD 52,700 per year, while the tuition fees for an MBA at the University of Ottawa Telfer School of Management is CAD 37,000 per year.

The average cost of living in Canada for an international student is CAD 15,000-20,000 per year. This includes accommodation, food, transportation, and other expenses.

The visa charges for a student visa to Canada are CAD 150. You will also need to pay a biometric fee of CAD 85. In addition to these costs, you may also need to factor in the cost of textbooks, travel, and other expenses.

Eligibility Criteria : MBA in Canada

The eligibility criteria for MBA in Canada vary from university to university. However, the following are the general eligibility requirements:

  • A bachelor’s degree from a recognized university or college with a minimum GPA of 3.0.
  • GMAT or GRE score. The minimum GMAT score required is 550, but most universities prefer a score of 600 or above. The GRE score is accepted by some universities, but the GMAT is more widely accepted.
  • Work experience. Some universities require a minimum of 2 years of work experience, while others do not.
  • English language proficiency test. A minimum score of 7.0 on the IELTS or 100 on the TOEFL is required by most universities.
  • Statement of purpose. This is an essay that describes your academic and professional background, your reasons for pursuing an MBA, and your goals for the future.
  • Letters of recommendation. Two letters of recommendation from academic or professional referees are required.
    Interview. Some universities may require an interview as part of the application process.

The specific eligibility requirements for each university can be found on their website.

Here are some additional details about the eligibility requirements:

  • Bachelor’s degree: The bachelor’s degree must be in any discipline, but most universities prefer a degree in business, economics, or a related field.
  • GMAT or GRE score: The GMAT is a standardized test that measures your quantitative, verbal, and analytical writing skills. The GRE is a similar test that measures your verbal reasoning, quantitative reasoning, and analytical writing skills.
  • Work experience: Work experience is not mandatory for all MBA programs, but it can be a valuable asset. Work experience can help you develop your leadership skills, problem-solving skills, and teamwork skills.
  • English language proficiency test: The IELTS and TOEFL are standardized tests that measure your English language proficiency. A minimum score of 7.0 on the IELTS or 100 on the TOEFL is required by most universities.
  • Statement of purpose: The statement of purpose is an essay that describes your academic and professional background, your reasons for pursuing an MBA, and your goals for the future. This is your chance to tell the admissions committee why you are a good fit for their program.
  • Letters of recommendation: Letters of recommendation are written by people who know you well and can attest to your academic and professional skills. They should be from professors, supervisors, or other professionals who can speak to your potential as an MBA student.
  • Interview: Some universities may require an interview as part of the application process. This is your chance to answer questions about your application and to show the admissions committee that you are a good fit for their program.

Scholarships : MBA in Canada

Ontario Graduate Scholarship Program

A merit-based scholarship offered by the Government of Ontario for master’s or doctoral programs at participating universities. Value: CAD 5,000 to CAD 15,000 per year.

Haskayne School of Business MBA Entrance Scholarships

Offered by the Haskayne School of Business at the University of Calgary to exceptional international students admitted to the MBA program. Value: CAD 1,500 to CAD 20,000.

Ivey Business School Scholarships

Provided by the Ivey Business School at the University of Western Ontario for outstanding international students accepted into the MBA program. Value: CAD 10,000 to CAD 50,000.

Schulich School of Business Scholarships

Offered by the Schulich School of Business at York University for exceptional international students admitted to the MBA program. Value: CAD 10,000 to CAD 50,000.

Rotman School of Management Scholarships

Provided by the Rotman School of Management at the University of Toronto for outstanding international students accepted into the MBA program. Value: $5,000 to $50,000.

Career Prospects : MBA in Canada

Here are some of the top companies hiring for MBAs in Canada:

Deloitte: Deloitte is a global professional services network that provides audit, tax, consulting, and financial advisory services. They are known for their strong training and development programs for MBAs, and they offer competitive salaries and benefits.

EY: EY is another global professional services network that offers a variety of opportunities for MBAs. They have a strong focus on innovation and technology, and they offer MBAs the chance to work on cutting-edge projects.

Google: Google is a multinational technology company that is known for its search engine, online advertising, cloud computing, and software. They offer MBAs the chance to work on challenging and innovative projects in a fast-paced environment.

Amazon: Amazon is a multinational technology company that is known for its e-commerce platform, cloud computing services, and artificial intelligence. They offer MBAs the chance to work on a variety of projects in a variety of industries.

RBC: RBC is a Canadian multinational financial services company that offers a variety of banking, insurance, and wealth management services. They offer MBAs the chance to work in a variety of roles, including investment banking, corporate banking, and retail banking.

Bank of Montreal: BMO is another Canadian multinational financial services company that offers a variety of banking, insurance, and wealth management services. They offer MBAs the chance to work in a variety of roles, similar to RBC.

McKinsey & Company: McKinsey & Company is a global management consulting firm that offers MBAs the chance to work on a variety of projects with leading businesses around the world.

Bain & Company: Bain & Company is another global management consulting firm that offers MBAs the chance to work on a variety of projects with leading businesses around the world.

Boston Consulting Group: The Boston Consulting Group is a global management consulting firm that offers MBAs the chance to work on a variety of projects with leading businesses around the world.

Top Canadian companies hiring MBA graduates in Canada include those in the banking and finance, consulting, technology, retail and consumer goods, and healthcare industries. These companies regularly hire MBAs for positions in investment banking, corporate banking, financial analysis, strategy consulting, operations consulting, IT consulting, product management, marketing, sales, marketing, supply chain management, retail operations, healthcare administration, marketing, and sales.

With a strong economy and a growing job market, Canada is a great place for MBA graduates to find a job.

89%

Employed within 3 months of graduation

CAD 100,000

Avg. Salary

     Most Sought-after Jobs

Financial Analyst

Corporate Treasurer

Financial Manager

Chief Financial Officer

General Manager

Visa & Stay Prospects : MBA in Canada

International students who want to study MBA in Canada will need to apply for a student visa. The visa application process can be started 120 days before the start date of the program.

The required documents for a student visa application include:

  • A valid passport
  • A letter of acceptance from a designated learning institution (DLI) in Canada
  • Proof of financial support
  • A medical examination report
  • A criminal background check

Once the student visa is approved, the student will be able to enter Canada and start their studies.

Top 5 Colleges for MBA in Canada

UniversityDetailsSuggestion
Rotman School of Management, University of TorontoDuration: 2-3 Years
Format: Full-time or Part-time
Avg. Working experience: 40-80 hours per week
Location: Downtown Toronto, Ontario

Rotman Full-Time MBA

MBA in Rotman

Smith School of Business, Queen’s UniversityDuration: 2-3 Years
Format: Full-time or Part-time
Avg. Working experience: 40-60 hours per week
Location: Kingston, Ontario

Perfect MBA Recommendation Letter

MBA in Smith School of Business

Ivey Business School, Western UniversityDuration: 1 Year
Format: Full-time 
Avg. Working experience: 60-70 hours per week
Location: Kingston, Ontario
MBA in Ivey Business School
Desautels Faculty of Management, McGill University

Duration: 1-2 Years
Format: Full-time or Part-time
Avg. Working: experience: 40 hours per week
Location

MBA in Desautels Faculty of Management
Schulich School of Business, York UniversityDuration: 2-3 Years
Format: Full-time or Part-time
Avg. Working experience: 60-80 hours per week
Location: Toronto, Ontario
MBA in Schulich School of Business

Application Process & timeline

We strongly advise all our clients to have a proper excel sheet or a timetables mapped out.
Once you are done with GMAT the entire application process usually take 4-6 weeks

Step 1

GMAT / GRE Score

2-3 months.

If you are not sure about what score to target then look at the average score of the schools you want and shoot above the average. 

Step 2

Profile Evaluation

 1-2 weeks.

Get your profile evaluated from a professional consultant and figure out what schools you can target based on your profile

Step 3

Application Prep

3-4 weeks at least. 

Start writing at least 1 month in advance of their 1st deadline. First application usually takes the longest.

Step 4

Interview Prep

1 week

School will notify you and give you roughly 1 week to schedule your interview. Ideally, start your prep ASAP and Do some mock interviews.

FAQs about MBA in Canada

Admission requirements may vary depending on the university and the specific MBA program. Generally, you will need a bachelor’s degree from a recognized institution, relevant work experience (typically 2-5 years), a competitive GMAT/GRE score, English language proficiency test (such as TOEFL or IELTS for international students), letters of recommendation, a statement of purpose, and a resume.

 

Yes, some Canadian universities offer scholarships, bursaries, and financial aid for international students pursuing an MBA. The availability and criteria for these awards can differ by institution. Make sure to check with the universities you are interested in for specific details and opportunities.

 

Most full-time MBA programs in Canada typically take about 12 to 24 months to complete. The duration can vary depending on whether you choose an accelerated program, part-time studies, or if you decide to pursue specializations or co-op/internship opportunities.

 

The cost of an MBA in Canada varies depending on the university and program. Additional expenses, such as living costs, accommodation, books, and supplies, should also be considered.

Canada offers a favorable job market for MBA graduates with a wide range of opportunities across industries. Graduates can find employment in sectors such as finance, consulting, marketing, technology, healthcare, and more. Canada also has various immigration pathways for international students, making it possible for graduates to explore and pursue a career in the country after completing their studies.

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Interview Prep

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