Canada is home to 642,000 foreign students and the most preferred destination for these students is the city of Toronto. This is because the city offers an amazing work ethic, high-paying job opportunities, and an enviable lifestyle. From aviation to wealth management, universities in Toronto are known for offering a wide range of MBA specializations to students. Pursuing a management degree in this city is highly competitive and that’s why we have prepared all the essentials you must know about MBA in Toronto!
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Why Study in Toronto?
Ranked by QS 2023 amongst the best cities for students in the world. The city of Toronto is home to the world’s best universities and leading industries that hire graduates of MBA, journalism, engineering to film, photography or visual arts:
- The universities in Toronto have international partnerships with academic institutions. This allows students to attend exchange programs and build a strong professional network.
- Studying in Toronto offers great job opportunities to students. They can work as interns, part-time professionals and also volunteer for social groups. Many universities have their own newspapers, radio stations, and student-run blogs.
- Toronto offers a wide range of specialisations and programs for students interested in studying MBA. From general MBA to executive programs, students can find a range of programs that suit their profile. They offer morning and evening classes to assist working professionals and individuals with an hectic lifestyle.
- Toronto is home to the world’s best business schools like Rotman, DeGroote Business School, Ivey Business School which gives MBA graduates an opportunity to work with industries like finance, banking, healthcare, education, etc
Top Universities for MBA in Toronto
Although there are a number of universities in Toronto from where candidates can pursue MBA, listed below are the top ones offering the best MBA courses:
- York University
- Concordia University
- Ryerson University
- Queen’s University
- University of Toronto
- Western University
- Wilfrid Laurier University
MBA in Toronto Without GMAT
The following are the MBA programs that do not require GMAT or GRE:
- DeGroot School of Business – McMaster University
- John Molson School of Business – Concordia University
- Schulich School of Business – York University
- Wilfried Laurier Business School – Toronto Campus
To pursue courses from universities in Toronto, candidates must fulfill basic eligibility requirements. Listed below are the major prerequisites required for MBA programs:
- The applicant must have completed an undergraduate course from a recognized university or institution.
- The applicant must have a strong academic record in any undergraduate field.
- Applicants must submit test scores of valid English language proficiency tests like that of IELTS/PTE/TOEFL.
- Applicants must appear for GMAT/GRE to study management courses from universities in Toronto.
To pursue an MBA from Toronto, students need a list of documents. These documents might be asked for either while applying or at the time of confirmation of admission. Listed below are the documents that students must keep handy, while applying for MBA in Toronto :
- Transcripts or Marksheet of previous degree or diploma
- GMAT or GRE Scores
- Statement of Purpose (SOP)
- Proof of sufficient funds to study in Canada
- Letters of Recommendation (LOR)
- Acceptable English Proficiency Tests:
- An updated CV (if required)
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How to Apply
Students must be aware of the following application process for pursuing an MBA in Toronto.
- Students must visit the official website of the institution and click on ‘Apply Now’ or ‘Register Here’
- They must fill the form providing their education history with all the qualifications.
- If asked for, they must fill in the details of your employment history and their personal statement.
- Finally, they must submit the application form by paying the mentioned fees.
Also Read: Canada Student Visa IELTS Band Requirements
Students have multiple options to choose from, for pursuing an MBA in Toronto. Some of the most popular MBA specializations have been listed below:
- Executive MBA
- Investment Management
- Healthcare Management
- Business Analytics
- Operation Management
- Digital Business
- Innovation and Entrepreneurship
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Cost of Studying and Living in Toronto
Once a student is aware of the course options available for MBA in Toronto, they might be interested in knowing the cost of studying and living in Toronto, Canada. We have tabulated the gross average amount for pursuing MBA in Toronto below:
|Course Fee||CAD 2,000 – CAD 18,000 per year [1.09 Lakh– 9.80 Lakh]|
|On-Campus Accommodation||Varies from one university to another|
|Off-Campus Accommodation||CAD 400 – CAD 3,000 per month [21K – 1.62 Lakh]|
|Traveling||CAD 80 – CAD 110 per month [4K- 5K]|
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Scholarships for MBA in Toronto
To help ease the financial burden of students, universities offer financial grants and scholarships to international students pursuing MBA in Toronto. Listed below are some of the popular MBA scholarships students can avail:
- Shastri Indo-Canadian Institute Scholarship
- Canadian Commonwealth Scholarship and Fellowship Plan
- Vanier Canada Graduate Scholarship
- Hani Zeini Scholarships
- York University International Student Scholarships
Must Read: All About the Canada Visa
The job profiles for students are multiple after pursuing an MBA from Toronto. Mentioned below are some popular job sectors students can opt for:
The salary is based on industry standards and varies depending upon the job profile chosen. After completing MBA, students can work as :
- Finance Expert
- Marketing Manager
- Chief Executive Officer
- Product Manager
- Hospitality Manager
- Human Resources Manager
- Sales Analyst
- Supply Chain Management
- Operation Expert
- Morgan Stanley
- HSBC Bank Canada
- J.P. Morgan Chase & Co.
- Ernst & Young
- Bank of Canada
- Canadian High Commission,
- Women in Capital Markets
- Yellow Point Equity Partners LP
- Zurich Financial Services Group
- The Goldman Sachs Group Inc.
- The World Bank
- Thorek/Scott and Partners
- TMX Group
Also Read: IELTS 6 Band Universities in Canada for Masters
Canada Work Permit
After completing graduation, students might wish to continue work in Canada. Students can work on their Canadian student permit as well, however, they can only take up part-time jobs to support themselves. Once students have completed their MBA degree from a university that has been approved by the Government of Canada, they are considered eligible for a PGWP (Post- Graduation Work Permit)
If the tenure of the program is of 2 years, students can stay for an extra year after the completion of your course. However, if the MBA program is for 8 months and 2 years, students can stay only for the duration of the program. Students must also know that they have the option of applying for permanent residency in Canada after having completed the course through the Express Entry Program.
The following are the benefits of studying in Toronto:
The universities in Toronto have international partnerships with academic institutions.
Studying in Toronto offers great job opportunities to students.
Toronto offers a wide range of specialisations
The following are the MBA programs that do not require GMAT or GRE:
DeGroot School of Business – McMaster University
John Molson School of Business – Concordia University
Schulich School of Business – York University
Wilfried Laurier Business School – Toronto Campus
Some of the most popular MBA specializations have been listed below:
Planning to study MBA in Canada’s most versatile city of Toronto? Book a free session with our Leverage Edu expert and learn how you can get into your dream MBA school!