Canada currently holds the first place in the categories of the ‘best place to live’ and the ‘best place to study.’ Approximately 200,000 international students opt to study and engage in research opportunities in Canada every year. Along with providing affordable education and lucrative career opportunities, Canada is a bilingual country and many programs are offered in English as well as in French. Canada is one of the leading destinations for study abroad applicants because students can easily enrol for Permanent Residency (PR).
Why pursue an MBA in Canada?
Canadian MBAs are very much in demand because Canadian degrees are internationally recognized, and provide excellent job and internship opportunities. Furthermore, Canada is a safe country and provides a healthy environment to live in.
• Business and Management programs in Canada offer a global curriculum, and equip students to building their interpersonal skills by offering on-the-job experience.
• Extensive exposure to different business scenarios by working on capstone projects and opportunities to build an international rolodex.
• Programs offer a wide range of specializations such as Finance, Marketing and Entrepreneurship.
• The most advantageous aspect of pursuing an MBA in Canada is that programs are cost-effective, especially in comparison to US MBA programs.
• The overall procedure of seeking admission and obtaining a visa is very straightforward.
Prerequisites for Enrolment:
These criteria differ for every program and university:
• An undergraduate/bachelor’s degree from a well-recognized, accredited university is a prerequisite. Very few Canadian universities accept three year undergraduate degrees.
• Many programs also require candidates with professional experience ranging from two to five years.
• Applicants need to submit recommendation letters, a statement of purpose/cover letter, essays and a detailed resume.
• Most Business and Management programs require The Graduate Management Admission Test (GMAT). A good GMAT score is a prerequisite to gain admission to a good ranking Bschool in Canada.
Cost and Expenses:
An MBA costs around CAD $31,000 $51,000. These figures include tuition, living expenses and miscellaneous expenses. In some top ranked universities the amount can be up to CAD $105,690 for two years.
What are the English Language Requirements?
IELTS or ToefliBT (minimum 100/120) scores are compulsory to gain admission to an MBA program in Canada. The minimum IELTS score is 6.5 with a score of 6 in every band.
What are the Top B Schools in Canada?
Some of the top Business schools offering full time MBAs in Canada are:
• University of Toronto – Rotman School of Management
• Queen’s University – Stephen J.R. Smith School of Business
• Schulich School of Business York University
• McGill University – Desautels Faculty of Management
• University of British Columbia – Sauder School of Business
A Canadian student visa is referred to as a ‘Study Permit.’ The Immigration, Refugees and Citizenship Canada (IRCC) website always has updated information about the latest visa and immigration requirements and students should study the application requirements before applying for a visa.
• To apply for a Study Permit, a student should have received admission from a university that is listed under Designated Learning Institutions (DLI) list authorized by IRCC.
• Once a student has received admission, they can submit their visa applications at any VFS centers or file their application online via the IRCC website.
• The visa application also requires the submission of visa documents such as passport sized photos, a valid passport, an admission letter from the university, financial and academic documents, test scores, fee receipt (mandatory), scholarship and work experience documents (if applicable) and a medical report.
When their program is in session, a student can work a maximum of 20 hours per week.
After completing a two-year, fulltime MBA, graduates can stay in Canada for up to three years. During this time, candidates can enrol in the immigration process to earn their legal right to work. Also, a graduate from a DLI institution is eligible to apply for a Post-Graduation Work Permit (PGWP). The PGWP is never more than the length of the applicant’s course duration. For course durations of less than eight months, no work permits are issued. For course durations that are less than 2 years, work permits are issued that are equal to the course duration. Qualified graduates with an MBA can apply for work permits through Express Entry.
What are Prospective Career Opportunities?
• Canada provides diverse work and career opportunities for MBA graduates and has a relatively low unemployment rate of ~7%.
• Average salaries after completing an MBA from a Canadian university are generally around CAD $58,723 – CAD $98,303.
• An MBA graduate from a highly-ranked school with previous work experience can earn up to CAD $132,656 .
• As many universities offer a cooperative education program, students gain professional/internship experience through partnerships established between the universities and various industries.
The Duration of the Course:
• A full time MBA from a recognized Canadian university can take from one to two years (12-24 months)
What are the Deadlines?
• Canadian universities offer two intakes during the fall and spring
• The deadline for fall (September) intake is from December April and spring (January) intake is from May to August
• Many programs also have rolling application deadlines