STUDY

MBA in Canada

What is an MBA?

The Master of Business Administration or MBA is the world’s most popular and prestigious postgraduate management program. Thousands of professionals from many fields apply for MBA programs in many different specialisations each year. To get into an international MBA program, an applicant must take the Graduate Management Admission Test (GMAT) and be accepted by the program based on the selection criteria.

As a generalist degree, the MBA gives fundamental management knowledge across business areas such as finance, marketing, and accounting and develops vital leadership skills. Having an MBA helps you stand out before employers. Famous Indian-origin CEOs with MBAs include Satya Nadella (Microsoft), Sundar Pichai (Google) and Shantanu Narayen (Adobe), among several others.

According to the Graduate Management Admission Council (GMAC), which owns GMAT, prospective MBA students’ top motivations include better salaries, promotion to senior positions, managing people, and working internationally. These are just some of the many reasons to get an MBA degree. The MBA is the right course if you’re looking for a promotion, starting your own business, advancing in or switching careers.

The MBA curriculum includes Leadership, Entrepreneurship, Marketing Management, Microeconomics, Statistics and Management Communications courses.

Why Study MBA in Canada?

Canada has some of the top-ranked MBA programs in the world offered by prestigious schools such as Toronto, Queen’s, and McGill, among others. These programs consistently rank among the top MBA programs globally.

Top Universities: Most business schools in Canada are considered the best in the world based on their employability, return on investment and alumni outcomes by ranking organisations such as QS. An MBA from any of the top institutions in Canada will help you reap lifelong benefits.

Top MBA Programs in Canada

School QS Ranking (Canada)
Toronto (Rotman) 1
Western (Ivey) 2
McGill (Desautels) 3
Queen’s (Smith) 4
UBC (Sauder) 5

Learnings: While many business schools in Asia and Europe offer affordable, one-year MBAs, most students prefer to opt for the two-year full-time MBA programs, which are prevalent in universities in Canada. The two-year MBA allows you to learn core papers such as management, strategy and finance in the first year and specialise in electives in the second year. Some universities in Canada offer accelerated MBA programs, which can be completed in 16-18 months.

Job Opportunities: An MBA in Canada will help you launch your career with top multinational corporations, and your earning potential will be huge. You will be able to build an enviable network that will help you throughout your career.

MBA in Canada: Careers and Salaries

MBA is one of the most sought-after courses for international students in Canada. The country is an economic powerhouse and offers many opportunities for MBA graduates in its financial, mining, industrial and information technology sectors.

With Canada’s generous Permanent Residency program, graduates can easily immigrate and settle. Business hubs like Toronto, Vancouver and Montreal are the hotspots for fresh MBA graduates to look for opportunities.Moreover, the Post Graduate Work Permit allows students to stay and work in Canada for three years. Let’s take a closer look at management professionals’ salaries in Canada:

Role Average salaries/year 
Financial Analyst 160,000 CAD
General Manager 220,000 CAD
Marketing Manager 209,000 CAD
Supply Chain Manager 226,000 CAD
Human Resources Manager 178,000 CAD

MBA vs Master’s in Management: Which is better?

The MBA and Master’s in Management are postgraduate degrees in business and management that professionals pursue to advance their careers. An MBA program focuses on broader business leadership and managerial skills, while a master’s in management focuses on specific management areas, such as finance or marketing. The MBA is a globally recognised management degree. In contrast, the Master’s in Management program is still primarily a European phenomenon, although it is now becoming popular worldwide. Let’s take a look at some of the main features of the two programs:

MBA Master’s in Management
Focus Advanced business knowledge Foundational business knowledge
Experience For those with several years of business experience Suitable for those with a bachelor’s degree or with a few years of professional experience
Duration 2 years 1-year
Average Salary $115,000* (USD) $55,000* (USD)
Job profile Mid/High-level management Entry-level management
Core areas Leadership and management, managerial economics, business analysis, value chain management, financial management Marketing, strategic business management, leadership, process management, global business, communicating with data, and finance
Tuition cost High Moderate

*Demand of Graduate Management Talent: 2021 Hiring Projections and Salary Trends

MBA in Canada: Admissions

Most universities in Canada require the applicant to have at least 16 years of education. Students must have completed an undergraduate degree after high school (10+2). Students who already have a master’s degree are also eligible to apply for MBA programs in Canada. The basic requirements for the application are:

  • Four-year bachelor’s degree
  • GMAT score above 550
  • IELTS/TOEFL score
  • Work experience as required

MBA intakes are either fixed, or universities approve them on a rolling basis. The application process is quite rigorous, and it is advised to prepare for it at least a year before the deadline. Some schools have separate deadlines for domestic and international students. The general documents required for application are

  • Academic transcripts, including certificates and mark sheets from high school and college (bachelor’s).
  • GMAT test score
  • English language proficiency (IELTS/TOEFL) test score
  • Letters of recommendation
  • Statement of Purpose
  • A valid passport and other national identification proofs
  • Visa
  • Proof of funding
  • An updated resume with proof of work experience
  • Photographs

Universities may ask for additional documents or proofs during the application process or before admission. The average cost of studying MBA in Canada is 30,000-40,000 CAD per year, which is more affordable than studying MBA in the USA.

Testimonials

“I chose to do my MBA in Canada to immigrate and settle here. I studied maths, physics, economics and fine arts in school and then completed my BBA from FLAME University in Pune, India. After graduating, I ran an Entrepreneurship Centre for the University of New Brunswick’s Faculty of Management. After securing my Permanent Residency, I wanted to move to a role with the government. What helped me was hard work, a strong work ethic, and networking. These helped me build my brand in the region. Starting from Day 1 in Canada, I went out of my way to get involved with several initiatives. From being President of the MBA Student Body to participating in regional competitions and putting out good work, securing the job made it easy and paid off. My first job working with UNB came about because the faculty knew I was hardworking and results-oriented. Getting involved opens the doors to new opportunities.”

Nandi Kaul, University of New Brunswick, 

MBA, 2018-2020

Trade Mission Specialist, Opportunities NB

Frequently Asked Questions

  • Do I need GMAT or GRE to study MBA in Canada?

    The GMAT is specifically designed for business school aspirants, and it has traditionally taken precedence over GRE, which can help students get admittance to graduate programs across all subjects. For MBA programs, the GMAT score is preferred by almost all business schools in Canada.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button