Higher education in Canada is growing more popular, particularly among Indian students. MBA programmes are offered at 47 institutions and colleges across Canada. MBA is the most popular degree programme among Indian students in Canada, increasing by over 50% in applications in the previous two years. Canada has a diverse set of sectors, a few world-class metropolises, and, most significantly, globally approved business schools. There are various types of MBA in Canada that you can pursue. Read on to know more about the types of MBA in Canada.
This Blog Includes:
- Why Pursue MBA in Canada?
- Types of MBA In Canada
- Part-time MBA vs Full-time MBA
- MBA Specializations in Canada
- Eligibility Criteria for MBA in Canada
- Admission Process for MBA in Canada
- Cost of Living in Canada
- Scope of MBA in Canada
Why Pursue MBA in Canada?
Students at Canadian colleges can network with a variety of talented and inspiring business executives. The following are some of the most significant advantages of pursuing an MBA in Canada:
- The Canadian employment market is expanding at an all-time high, and MBA grads have plenty of options.
- Canada offers visas that are beneficial to overseas students. To begin with, there is far less paperwork than in other countries, and they also issue foreign students with work permits immediately after receiving their degrees, which is quite useful to all international students.
- Canada offers a high return on investment and a lot more accessible MBA programmes for students.
Types of MBA In Canada
Check out the types of MBA in Canada for international students:
A Part-time MBA (Master of Business Administration) is a programme that may be completed while working or attending classes on weekends or nights in addition to your normal studies. It’s a two-year postgraduate programme divided into four six-month semesters. Students in Canada can pursue a part-time MBA in a range of subjects such as finance, investing, human resource management, accounting, and other business-related fields. The following are some significant facts concerning a Part-time MBA in Canada:
- Within three months after graduation, 80% to 90% of students seeking a part-time MBA find work in Canada.
- Students must have a GMAT score of 550 and two years of work experience to enrol in courses.
- According to QS Leading MBA, several of Canada’s top institutions that offer part-time MBA programmes are listed among the best MBA programmes in the world. Following are the universities which offer part-time MBA:
|Universities||Average Tuition Fee||Average Salary|
|Brock University – Goodman School of Business||CAD $65,000 (INR 40 Lakhs)||$37,000 (INR 22 lakhs)|
|York University – Schulich School of Business||CAD $70,000 (INR 43 Lakhs)||$94,200 (INR 58 Lakhs)|
|Queen’s University- Smith School of Business||CAD $68,000 (INR 42 Lakhs)||$96,000 (INR 60 Lakhs)|
|McMaster University – DeGroote School of Business||CAD $50,000 (INR 30 Lakhs)||$80,000 (INR 49 Lakhs)|
|Carleton University – Sprott School of Business||CAD $55,000 (INR 34 Lakhs)||$50,000 (INR 30 Lakhs)|
The full-time MBA (master’s of business administration) is a general management degree that aims to provide students with a thorough grasp of how businesses operate and how business executives respond to constantly changing conditions and difficulties.
A full-time MBA takes 1-2 years to complete. The following are some significant facts concerning a Part-time MBA in Canada:
- For Indian students, the average cost of Full time- MBA in Canada is 40 lakhs- 50 lakhs
- In a Full-time MBA, the main advantage is the face-to-face, on-campus encounter. Many programmes provide students with the opportunity to participate in a summer internship, allowing them to explore career alternatives and get real-world experience.
- Following are some of the top business schools for Full-time MBA programs-
|Universities||Average tuition fee||Average Salary|
|Rotman School of Management||CAD $137,120 (INR 84 lakhs)||CAD $90,000 (INR 55 Lakhs)|
|Ivey Business School||CAD $120,500 (INR 74 Lakhs)||CAD $87,000 (INR 53 Lakhs)|
|Schulich School of Business||CAD $106,900 (INR 65 Lakhs)||CAD $94,000 (INR 40 Lakhs)|
|Alberta School of Business||CAD $60,000 (INR 42 Lakhs)||CAD $79,020 (INR 48 Lakhs)|
This programme is designed for senior executives and higher-level professionals who have extensive industry experience. It’s also geared toward company owners who wish to broaden their expertise. Following are some facts regarding Executive MBA:
- This course is ideal for students who want to work while studying and wish to obtain hands-on business experience in addition to classroom learning.
- This course is designed to educate leadership skills as well as real-world business management.
- The curriculum typically lasts 13 months and leads to significant personal and professional development.
- Following are the top rank schools for pursuing Executive MBA
|Universities||Average Tuition fee||Average Salary (CAD)|
|HEC Montreal||CAD $91,000
(INR 56 Lakhs)
(INR 74 Lakhs)
|Smith School of Business- Queen’s University||CAD $146,695
(INR 90 Lakhs)
(INR 50 Lakhs)
|Rotman School of Management-||CAD $115,442
(INR 73 Lakhs)
(INR 68 Lakhs)
|Desautels Faculty of Management- McGill University||CAD $91,000
(INR 56 Lakhs)
(INR 55 Lakhs)
Furthermore, international students can pursue joint MBA degrees in Canada, which combine pharmacy, law, and engineering with global affairs, as well as dual degrees (MBA or Joint degree or MBA/MFA/MA).
Part-time MBA vs Full-time MBA
|Full- time MBA||Part-Time MBA|
|Who Typically Enrolls||Full-time MBA programmes frequently attract fresh graduates
or those who are
just starting out in their jobs.
|Part-time MBA programs appeal to working professionals and those who are more established in their lives and careers.|
|Duration||1-2 Years||3-6 Years|
|Average Tuition fee||CAD $ 40,000 (INR 24 Lakhs)||CAD$ 90,000 (INR 55 Lakhs)|
|Merits||-Shorter time to graduation
-Strong professional network building
-Better opportunities for scholarships and fellowships
-Helpful in career changes
|-Ability to continue working
-More likely to enjoy
-financial support from an employer
-Personal flexibility in scheduling
-Pay as you go
-Opportunity to immediately apply education to the current job
-Lower barrier to entry
|Demerits||-Heavier class loads
-Requires significant outside financial and family support
-Higher barrier to entry
-Delayed career advancement
-Fewer scholarship options
-Limited networking opportunities
MBA Specializations in Canada
Master of Business Administration (MBA) programmes are available at several Canadian universities in a variety of specialities. MBA programmes last anywhere from ten months to two years in Canada.
- General MBA Programs (Other Degrees, non-MBA and other subjects)
- Consulting and Strategic Management (Consulting and Strategy)
- Finance / Accounting / Economics (Accounting, Banking, Finance)
- Property Management (Real Estate)
- Arts Management (Arts /Culture, Fashion, Media / Design, Sports Management)
- Investment / Insurance (Investment / Asset Management, Insurance / Risk Management, Finance)
- Supply Chain and Operations Management (Logistics, Operations Management, Supply Chain Management)
- Healthcare Management ((Healthcare / Pharma / Biotech)
- Luxury and Retail Management (Food / Wine Business Management, Luxury Brand Management, Retail and Consumer Goods)
- Marketing Management
- Internal Business Management (Human Resource Administration, Organizational Management, Project Management)
- Education and Government
- Startups and Small Businesses (Entrepreneurship)
- Other Subjects
Eligibility Criteria for MBA in Canada
Although Canada has enticing business schools, students must achieve specific requirements in order to enrol in these types of MBA programmes. Some of the eligibility criteria are listed below:
- A comparable bachelor’s degree from a recognised university that is equivalent to a Canadian bachelor’s degree.
- A GMAT (Graduate Management Admission Test) score of 500 to 600 is required.
- Some colleges use a criterion of a minimum number of years of work experience to screen the top applicants for their MBA programmes.
English Proficiency Requirements
- To pursue types of MBA in Canada International candidates, non-native English speakers, and students whose major language of instruction is not English must take the TOEFL or the International English Language Testing System (IELTS). Furthermore, the results of these examinations must fulfil the university’s minimal requirement standards.
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Admission Process for MBA in Canada
As the application procedure is extensive, you should apply at least 15 to 18 months before the start of your desired session. The application forms for most colleges are also available on their official websites.
Documents Required for the application process:
- All documentation relevant to your graduate programme, including transcripts, is included in your academic record.
- Job experience: Documents that illustrate your work history.
- Statement of Purpose (SOP)
- Letter of Recommendation (LOR)
Cost of Living in Canada
Here is the average cost of living in Canada for international students:
- Accommodation:(INR 2,67,000-INR 5,39,000) per year
- Food :(INR 18000-INR 24000 per month)
- Travel expense:(INR 4,300-INR 6,000) per month
- Health insurance:((INR 17,000-INR 44,000) per month
- Flight Expense:( INR 1,00,000- INR 2,00, 000 per flight)
Scope of MBA in Canada
For the appropriate applicant, there are many opportunities. MBA graduates are paid well in a variety of attractive positions. They can work in a variety of fields after finishing their MBA programme, including
- Finance and Accounting
- General Management
- IT services
- Healthcare Management
- Oil and Gas
- Legal jobs
MBA graduates can also work for the Canadian government in a variety of departments, assisting in the efficient operation of the administration. In addition, management graduates might engage in technical management, sales, marketing, product, and project management, among other fields.
Finance, Marketing, Human Resources, International Business, Operations, Supply Chain Management, and other MBA specialities earn the highest average pay in Canada.
The cost of an MBA in Canada ranges from 32,000 to 89,000 dollars. For an Indian student to complete an MBA in Canada, this equates to between 24 and 67 lakhs. The majority of this expense is made up of tuition fees. In addition, a foreign student must have adequate means to live in Canada, which range from 4,000 to 10,000 USD per month. This might cost up to 7 lakhs each year for an Indian student.
Canada, being one of the world’s largest and most powerful economies, provides a variety of work opportunities for MBA graduates. It also houses some of the best MBA recruiters and provides a welcoming atmosphere for international students interested in studying abroad.
Basically, there are 3 types of MBA courses- Full-time MBA, Part time MBA and Executive MBA.
Hope you understood the types of MBAs in Canada in this blog. If the prospect of obtaining an MBA intrigues you, please contact one of our Canadian Country experts at 1800572000 at Leverage Edu, who would be pleased to assist you.