MBA in Canada

 

Course Overview

The Master of Business Administration (MBA) is an internationally-recognized degree designed to prepare students for jobs of the future. It focuses on developing both industry-specific knowledge as well as high in-demand soft skills like leadership, empathy and interpersonal skills.

An MBA degree can propel a professional career across industries and functional departments. There are over 2000 MBA programs offered globally with multiple options to specialize in, like Finance Leadership, International Management, Consulting, Technology Management, Entrepreneurship and more. The core curriculum includes subjects like accounting, operations, marketing, and economics.

Eligibility Criteria for MBA Program in Canada:

The following are the standardized tests for MBA aspirants to qualify, for applying in Canadian universities. Primarily there are two entrance exams to qualify for studying MBA in Canada:

GMAT – Graduate Management Admission Test/GRE- Graduate Record Examination
TOEFL- Test of English as a Foreign Language/IELTS- International English Language Testing System

Graduate Management Admission Test is the preferred entrance exam for admissions in most of the business and management schools in Canada. It consists of an analytical writing assessment, integrated reasoning, quantitative reasoning, and verbal reasoning.

GRE scores are also know accepted for admission in MBA programs. There are two types of GRE tests. GRE general tests students on verbal reasoning, quantitative reasoning and analytical writing and GRE subject test gauges knowledge of a particular field of study like Biology, Chemistry, Literature in English, Mathematics, Physics, Psychology.

Both TOEFL and IELTS, test English language skills in reading, listening, speaking and writing.

Apart from these entrance exam scores, to apply for an MBA program a Bachelor’s degree, academic transcripts, letters of reference, and an essay or statement of purpose stating why you want to pursue an MBA degree, professional certificates (if applicable)  will have to be submitted.

Intake & Application Deadlines

The primary intake is in September / Fall Session
A few allow for a January / Winter Session and May/ Summer Session intake.
The ideal time to begin applications is 9-12 months prior to the intake deadline.

Tuition Fees

The tuition fee or cost of an MBA in Canada varies depending on the type of college, course, study duration, and college location. On an average fee range for MBA course is $ 30000-40000per year

Scholarship options are few. The ones available are highly competitive and based on merit. Some known ones are like Ontario Graduate Scholarships (OGS) and Go Clean Scholarship.

Quick Facts to Know

Type of MBA programs and course Duration in Canada 

A traditional full-time MBA program will typically last two years (24 months). This is the most sought after the program as it offers immersive tracks to study and focuses heavily on giving students maximum real-world experience.

There are institutions in Canada offering accelerated MBA programs, that last one year (12 months) or a year and a half (18 months).

Apart from these, there are part-time and Executive MBA (EMBA) programs available for students to enrol in. Both these programs are generally taken by working professionals, who attend the program while maintaining a full-time job.

Common MBA application mistakes

There can be multiple reasons for applications to get rejected. Applications that are incomplete, that have grammatical mistakes will generally not get through. It is important for applicants to proofread the applications, especially the essay section. At Manya, as part of our admission services, we help applicants with edit services to ensure their application is error-free. A well written and organized application will always stand a better chance of impressing the admission panel.

Why study an MBA in Canada?

In recent years, Canadian universities have become popular for MBA programs. Let us look at some of the reasons that make Canada the preferred choice among Indian students:

Internationally Recognized Degrees

Degrees conferred by Canadian universities are globally recognized and highly valued by international employers. The University of Toronto, University of British Columbia, McGill University, University of Waterloo are among the top 50 engineering and technology institutes in the world.

Low Cost of Education and Living

In spite of being a developed nation, the cost of higher education in Canada is comparatively cheaper than its western counterparts. High-quality education at an affordable tuition fee gives Canada its unique advantage.

Low cost of living compared to US and UK, safety, stability, and a multicultural environment makes Canada an ideal destination

High Living Standards

Canada consistently ranks among the top 10 countries in the United Nations Quality of Life Index since 2004. Canada ranks above average in education and skills, jobs and earnings, health, safety, environmental quality, wealth and subjective well-being.

Immigration friendly policies

Canada is known to be the most immigration friendly nation in the world. Its policies are geared towards encouraging immigration from across the globe. This is one of the primary reasons to choose Canada as a study destination. It allows a post-study to stay back option of 3 years for students that can easily lead to immigration later.

Top Business Schools in Canada

According toQS Global MBA Rankings 2020, the following are the top MBA colleges in Canada

Rotman School of Management, Toronto

The Rotman School of Management is an intense 20-month program that combines 16 months of academic study with a 4-month opportunity for a paid flexible internship during one of three work terms. The School of Management is part of the University of Toronto, Full-Time MBA Program.

QS Canada Rank # 1
Duration 20 months
Avg. GMAT 658
Fee (USD) $80k-$90k

McGill University, Desautels

The MBA program at McGill University Desautels Faculty of Management ranks as one of the world’s most recognized and international degree programs.McGill’s global reputation and alumni network make Desautels a great place for students to take their career to the next level.

QS Canada Rank # 2
Duration 22 months
Avg. GMAT 659
Fee (USD) $60k-$70k

Ivey Business School, Western University

Ivey Business School is Canada’s leading provider of real-world, case-based business education. The one year MBA program starts in March and is designed for high-achieving leaders who are ready to accelerate their career success

QS Canada Rank # 3
Duration 12 months
Avg. GMAT 657
Fee (USD) $80k-$90k

Smith School of Business, Queen’s University

Smith School of Business at Queen’s University is renowned for its excellence, innovation, and leadership in business education. The Full-time MBA takes a flexible and highly personalized approach that allows you to build the right program for your career goals.

QS Canada Rank # 4
Duration12 months
Avg. GMAT650
Fee (USD)$70k-$80k

Schulich School of Business, York University

The Schulich Full-Time MBA is a 16-20 month program that offers an integrated approach to general management fundamentals. The program offers 18 different specializations, year-round study options including full-time, part-time and accelerated.

QS Canada Rank # 5
Duration 16 months
Avg. GMAT 667
Fee (USD) $80k-$90k

Average Median Salaries for MBA Graduates

University of Toronto- $110,000
Ivey Business School- $100,000
Schulich School of Business -$91,940
McGill University $117,000
University of Queen’s- $104,000
Source:https://www.emolument.com/home.do

Top Industries to Choose (Post MBA)

  • Consulting
  • Consumer Goods
  • Financial Services
  • Technology
  • Finance
  • Data & Analytics
  • Sales
  • Marketing & Communications
  • General Management
  • Product Management

 

Student Visa Terms and Provisions

A Canadian student visa is referred to as a ‘Study Permit.’ The Immigration, Refugees and Citizenship Canada (IRCC) website has updated information on the latest visa and immigration requirements. Students are advised to study the application requirements thoroughly before applying for a visa.

  • To apply for a Study Permit, a student should have received admission from a university that is listed under the 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.

 

Post Study Stay Back Options

A post-graduation work permit (PGWP) grants permission to international students to remain in Canada and work full time for up to three years after graduating from a Canadian post-secondary institution. The length of the work permit depends on the length of the program.