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. The 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
Top MBA Colleges in Canada with Fee Structure
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 18 Lakh-INR 24 Lakh) 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 35 Lakh)|
|Queen’s Smith School of Business||CAD 91,000 (INR 55 Lakh)|
|York University – Schulich||CAD 52,040 (INR 51 Lakh)|
|McGill Desautel||CAD 44,500 (INR 44 Lakh)|
|University of Alberta||CAD 16,520 (INR 9 Lakh)|
|HEC Montreal||CAD 49,000 (INR 29 Lakh)|
|UBC Sauder||CAD 60,045 (INR 36 Lakh)|
|Ivey Business School||CAD 1,11,750 (INR 67 Lakh)|
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 an 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 –
- The 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.
MBA in Canada Requirements
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 to 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 mark sheet, class 12 mark sheet, 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 Recommendation 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 are related to your visa.
How much does MBA in Canada cost?
In particular, the economic cost of studying in Canada is a major factor that attracts foreign students. Moreover, the country houses some of the best educational institutions in the world, for instance, the Rotman School of Management, the University of Toronto, amongst others. The duration of an MBA in Canada can usually range from 1 year – 20 months or 2 years. Further, the cost of an MBA in Canada will mainly depend upon the program as well as the university. There are numerous universities which offer low-cost MBA in Canada, almost with a fraction of tuition fees, as that of the leading institutions. For a low-cost MBA, you can expect to pay roughly 33,200 CAD to 101,500 CAD (17,45,500-53,37,000 INR approx.) for tuition fees. Moreover, Canada also offers numerous part-time programs that allow students to find work opportunities in the country while studying.
Also Read: Top 20 Low Cost MBA Colleges in Canada
There are many of chances available for the appropriate applicant. MBA graduates are paid well in a variety of attractive positions. After finishing an MBA programme, people can work in a variety of industries, including:
- Finance and Accounting
- General Management
- IT services
- Healthcare Management
- Oil and Gas
- Legal jobs
In addition, MBA holders can work for many Canadian government agencies and contribute to efficient administration. Additionally, graduates in management might find employment in the fields of technical management, sales, marketing, product, and project management.
The typical annual tuition for an MBA programme in Canada is between $30,000 and $40,000, which is regarded as more cheap than in other study abroad nations. An MBA degree can be earned in around two years on average.
One of the most popular programmes globally, including in Canada, is the MBA. The employment chances following an MBA in Canada are what attracts international students and acts as a stepping stone to executive level roles.
When compared to colleges in other nations like the USA, UK, Australia, etc., the cost of an MBA programme in Canada is affordable.
International students can obtain a work permit valid for up to three years after completing an MBA in Canada. The route to permanent residency also leads from the three-year work permit. The fact that Canadian businesses are generally small is one of the key characteristics of the job market in Canada.
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!