If you have business acumen and wish to work in the corporate sector, then getting an MBA degree can prove to be very useful for you. Cost of an MBA is an important factor which determines which MBA college is the best fit for you. Canada is famous for its MBA and as per World Rankings, out of the top 150 universities in the world for MBA, 7 of them are located in Canada. This blog covers the cost of MBA in Canada and related details.
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Why MBA in Canada?
Canada has a booming economy and a very rich culture. It is known as the most educated country in the world, so what better place to do your MBA? It is very popular among international students because of its affordable cost of MBA in Canada, top-class education and a great lifestyle. Pursuing your MBA from Canada will not help you grow professionally but also personally. Here are some reasons why you should choose Canada for your MBA apart from the affordable cost of MBA in Canada –
- The admission and visa process is very simple so you don’t have to fill a hundred forms, in fact Leverage Edu can help you with every step of the admission process.
- Canada is the best place to get an internationally recognized MBA degree.
- The business programs that are offered by Canadian colleges can act as a great head start to your MBA career which will ultimately help you increase your earning potential.
- The universities also offer internship opportunities while studying so that you can gain practical experience in the industry.
- The course covers various subjects which will prepare you for the real world.
Latest Updates: Canada Approves 56,000 Study Permits in the First Stage
Cost of MBA in Canada
Canada has a high-quality lifestyle and various other benefits to its citizens, not only that, Canada offers ample opportunities to international students. As per reports, the cost of an MBA in Canada is somewhere between $30,000-$40,000 (INR 22,20,000 – INR 29,60,000) which is far less than what universities charge in the US. Here are some of the top colleges in Canada and the cost of MBA in Canada-
|University/College||Cost of MBA in Canada (Fees for the first year)|
|Rotman School of Management||CAD 59,450 (INR 33,88,650)|
|Queen’s Smith School of Business||CAD 91,000 (INR 51,87,000)|
|York University – Schulich||CAD 52,040 (INR 29,66,280)|
|McGill Desautel||CAD 44,500 (INR 25,36,500)|
|University of Alberta||CAD 16,520 (INR 9,41,640)|
|HEC Montreal||CAD 49,000 (INR 27,93,000)|
|UBC Sauder||CAD 60,045 (INR 34,22,565)|
|Ivey Business School||CAD 1,11,750 (INR 63,69,750)|
Must Read: 1 Year MBA in Canada
Types of Scholarships and Financial Aids Available
Canadian Universities have great benefits for international students such as scholarships and financial aid to help with the cost of MBA in Canada. Students can avail for scholarships based on their academic qualifications like a good score in GMAT. Here are some popular scholarships in Canada for Masters and MBA Programs –
- University of Waterloo Graduate Scholarships – You can reduce your cost of MBA in Canada by applying for this scholarship which is for students pursuing their post-graduation.
- Go Clean Scholarship – If you are an international student and want to reduce the cost of an MBA in Canada, you should apply to this scholarship.
- Central Sector Scheme of National Overseas Scholarship (except for UK students) – This scholarship is available to international students who wish to pursue their PhD or Masters.
- Ontario Graduate Scholarships – It is a scholarship funded by the government to help students get quality education.
Apart from the cost of MBA in Canada, you have to take in account the eligibility criteria for doing an MBA in Canada
- Bachelor’s Degree – You must have a Bachelor’s degree from a recognized university.
- Work Experience – This is not a mandatory requirement, but universities do give preference to those with relevant work experience.
- Proficiency in English Language – If you belong to a non-native English-speaking country such as India, you will have to produce a certificate to prove your proficiency by taking the IELTS or TOEFL.
- GMAT – If you want to get admission in the top-rated universities, you need to have a good GMAT score.
The application process for MBA in Canada is simple but a bit lengthy, so it is advised you start applying at least 15-18 months prior to the session. You can find the forms for different universities on their official website, here is a list of documents which you should keep in handy –
- All your academic records such as class 10 marksheet, class 12 marksheet, graduation certificate etc.
- Test scores such as the GMAT or English proficiency scores such as the TOEFL or IELTS.
- All your bank statements and other financial documents.
- Documents related to your work experience.
- Letters of Recommendations from your previous employer or college professors.
- A Statement of purpose where you talk about your journey so far and why are you applying to the particular university.
- All your documents related to your visa.
This was all about the cost of MBA in Canada and other important details around it. Planning to study MBA in Canada? Let Leverage Edu be your helping hand. Reach out to our experts and kickstart your study abroad journey!