MBA in Canada

Canada has become a popular destination for MBA students. Read up

MBA (or Master of Business Administration) is a course that requires significant future investment since it will prepare you for more than just analysing a spreadsheet or leading a team. It is a program that can open doors to a whole new world of opportunities. With Canadian MBA programs aiming to develop the necessary skills required to successfully deal with real-world business challenges, pursuing MBA from Canada can be a life-changer.

Why Pursue MBA in Canada?

Canada gives you more than just one reason to pursue your MBA. Some of these include:

• Globally ranked institutions: As per QS World University MBA Rankings ( 2022 ),Ten Canadian universities are ranked in the top 200 global universities for MBA*

• Promising course option: A Canadian business degree is counted among the top 10 subjects with the highest graduate salaries

• Post-study work opportunities: With the Canadian government encouraging various SMEs (small-to-medium enterprise) and start-ups to build themselves, there are increased work opportunities for MBA graduates

• High Employment Rate: Job prospects are strong for Canada’s international grads. Universities boast links to more than 5,000 global collaboration agreements. Combined with Canada’s focus on industry-specific applied research, it’s no surprise that more than 90% of Canadian alums are employed less than six months after graduation

• Easy to settle: With friendly work policies, Canada is highly preferred by all international students who desire to settle with a work permit

How much does it cost for MBA in Canada?

To study MBA in Canada, the average tuition fee ranges between $30,000 – $40,000, which is considered affordable than other study abroad countries. Typically, completion of an MBA degree takes about two years.

Types of MBA in Canada

Canadian institutions offer many types of MBA degrees to suit the needs, interests, and requirements of various international students. Some of them are listed below:

1. Full-Time MBA: It’s required to understand the diversity of the Canadian workforce and let the student successfully enter the job market as a leader. Usually, the duration of this program is one-two years where the students can choose to study full-time. This also brings the business insights from some of the top world-class faculty with an opportunity to work with the global industry leaders. In this, international students are exposed to global experiences via international field study, integrated curriculum, global courses, and many other modes.

2. Part-time MBA: This MBA program is relatively for a longer duration in contrast to a full-time MBA. It’s more suitable for working professionals who plan to complete their degree while working part-time.

3. Executive MBA: It’s designed for students who plan to work while studying in Canada and want to gain practical corporate knowledge along with classroom experience. Generally, the duration of the program is 13 months and results in manifold personal and professional growth.

In addition, international students can plan for joint MBA degrees i.e., a combination of pharmacy, law and engineering with global affairs and dual degrees i.e., MBA or Joint degree or MBA/MFA/MA) in Canada.

Eligibility criteria to pursue MBA in Canada

While each institution will have its own set of entry criteria for MBA programs, here are the most common requirements:

• Bachelor’s degree in any discipline from a recognised institution. While most institutions ask for a 4-year bachelor’s degree, some may also accept 3-year degrees

• Relevant work experience of 3-5 years in any related field. Institutions prefer students with a minimum of 12 months of work experience

• Minimum IELTS Scores for Canadian Universities

• GMAT score of 500- 700 out of 800 is required for entry into a good Canadian institution

• Also, don’t worry if you have a study gap as it’s acceptable in Canada under special circumstances.

Popular Business Manager Skills: Operations management, budget management, accounting, office management, human resource

*According to PayScale data 2022

Cost of studying MBA in Canada

To study MBA in Canada, the average tuition fee ranges between $30,000 – $40,000 per annum, which is considered more affordable than in other study abroad countries. Typically, completion of an MBA degree takes about two years. Also, here are the government-funded scholarships to study MBA in Canada:

• Shastri Indo-Canadian Institute

• Canadian Commonwealth Scholarship and Fellowship Plan

• Ontario Graduate Scholarship Program

• Quebec Provincial Government Scholarship

Cost of living in Canada

It is always advisable to have a well-structured financial plan in place before you land and head to your dream business institution or college in Canada. Here is the estimated cost that you will have to manage on a daily basis.

Learn in detail about cost of living in Canada

Top Canadian institutions for MBA

• Gerald Schwartz School of Business (St. Francis Xavier University)

• F.C. Manning School of Business (Acadia University)

• Sprott School of Business (Carleton University)

• Department of Accounting and Finance (University of Waterloo)

• Department of Graduate Studies(University of Prince Edward Island)

• School of Business (Dalhousie University)

• De Groote School of Business (McMaster University)

• Queen's School of Business (Queen's University)

• Richard Ivey School of Business (University of Western Ontario)

• Rotman School of Management (University of Toronto)

• Schulich School of Business (York University)

Career prospects

The quality of education offered in Canada opens up multiple avenues for MBA students in respect to promising job opportunities.

• Finance and Consulting: Financial services firms and consulting entities remain the major recruiters of MBA students. This is why many international students prefer to pursue MBA in Finance in Canada

• Small and medium-sized enterprises (SMEs): These are the biggest hiring sectors of business school graduates. Graduates who undergo any specific training in the management sector and are willing to explore further learning and exposure opportunities are preferred over others

• Technology: With technology sector at an all-time high, technology-based firms offer the most enticing career choices to MBA graduates

• Co-op education: Co-operative education, or co-op education, is a program where you can work in an industry that is related to your field of study. It gives you real-world, program-related work experience while pursuing your education. Hence you will build strong connections for getting a job later.

Prospective Employers:

• IBM Canada

• Forazni Group Ltd

• Capgemini Group

• Petro Canada

• Royal Bank of Canada

• Unilever Canada

• Business Development Bank of Canada

• Ceridian Canada Ltd.

• Manulife Financial Corporation

• TD Canada Trust

Popular career paths for Business managers

Here are the jobs after MBA in Canada that can help you build a secure future.

Salary after MBA in Canada

Here’s the average salary of a business manager after pursuing MBA in Canada:

*According to Payscale data 2022

An entry-level Business Manager with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of C$55,412. An early career Business Manager with 1-4 years of experience earns an average total compensation of C$59,392. A mid-career Business Manager with 5-9 years of experience earns an average total compensation of C$68,552. An experienced Business Manager with 10-19 years of experience earns an average total compensation of C$79,188. In their late career (20 years and higher), employees earn an average total compensation of C$81,347.*

*Source: https://www.payscale.com/research/CA/Job=Business_Manager/Salary

Work Permit after MBA in Canada

A Canadian work permit is a document that allows you to stay and work full-time in Canada for up to four years after you have completed your post-graduation (PG) degree as an international student. Once you’ve completed your PG studies and received your final academic scores, you get up to 180 days to apply for the post-graduation work permit or PGWP.

Eligibility criteria for work permit

• The intended employment must be an essential part of the academic program

• Co-op or internship employment cannot form more than 50 % of the total program of study

Every year, half a million international students choose to study in Canadian colleges or universities* due to visa flexibility and internship opportunities with reputed management firms. If the opportunity of pursuing an MBA excites you then feel free to get in touch with our international education experts who are happy to guide you through.

*Sources: https://www.educanada.ca/live-work-vivre-travailler/student-life-vie-etudiant.aspx?lang=eng
https://www.topuniversities.com/university-rankings/mba-rankings/canada/2022

Every year, half a million international students choose to study in Canadian colleges or universities* due to visa flexibility and internship opportunities with reputed management firms. If the opportunity of pursuing an MBA excites you then feel free to get in touch with our international education experts who are happy to guide you through.

*Sources: https://www.educanada.ca/live-work-vivre-travailler/student-life-vie-etudiant.aspx?lang=eng
https://www.topuniversities.com/university-rankings/mba-rankings/global/2020

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