Canada has some of the best Business Schools in the world. They also top the charts when it came to Global MBA ranking. It has caused an attraction from international students around the world. They come to Canada to study and to pursue their careers in various MBA programs in Canada. The time for obtaining an MBA in Canada is around two years. The price range to enable one to pursue this degree is from 16000 to 80000 USD in any of the top-notch business schools in Canada.
There are also available scholarships that can assist those who have an interest in having an MBA. To obtain MBA in Canada requires that you have at least 76% or more in your bachelor’s, IELTS score should be around 7.0 or at the required test score from the desired institution, GMAT scores, and an existing work experience of 3 to 5 years. There has been a rise in MBA graduates in Canada with an annual salary of 80000 to 200000 USD from MBA jobs in Canada.
Types of MBA In Canada
Most of the top universities require GMAT and a prior work experience for eligibility to study, but numerous universities offer MBA without GMAT or work experience in Canada. Canada offers different types of MBA degrees that will meet the international students’ requirements for choosing their preferred MBA program. They include the following:
- Full-time MBA:
This program is best for students who can be devoted wholly to studying. There are diverse work areas in MBA to make a student prepare to go into the labor force with capabilities of leading without fear. Students can choose to study full-time as the program is for a period of one to two years.
- Part-time MBA:
The part-time MBA program takes longer than the Full-time MBA, but this program works better for workers and experts of various fields in search of a degree alongside their work. They usually do not have time for a full-time study, and this program creates time for study and work.
- International MBA:
International MBA gives business savvy from top world professors. There are also opportunities attached to it, and it offers employers an avenue to work with recognized and influential industries. Besides personal upbringing, international students experience world-changing moments such as global courses, unified curriculum, etc, and the program is for 24 months.
- Executive MBA:
This time frame for the Executive MBA is usually one year and one month, and it is most convenient for students who want to work and study in Canada. The end product is growth in personal life and professional life through knowledge acquired and learned from the classroom.
Admission Requirements for MBA In Canada
Foreign applicants intending to obtain an MBA from Canada should be sure to carry out the necessary demands for this degree. Ensure you recognize the vital application process needed to make you eligible for the best MBA universities in Canada. These two are essential to any international students’ knowledge when applying for an MBA In Canada.
- Applying Online:
Each institution has an application portal that enables candidates/applicants to register and finalize the application online. There might be cases whereby you may be required to fill in applications through province-specific application portals, e.g., OUAC
- Application Fee:
A fee is paid along with the application online, and it is called an application fee. It should be paid after the online application has been completed, which is usually in Canadian funds. The fee can be paid by credit card, and it is non-refundable when the application form has been submitted.
MBA Requirements in Canada
These are the following:
All candidates are expected to submit a page of resume with vital contents like details of their employment history and record candidates’ qualifications in a reversed chronological arrangement.
- Recommendation Letter:
Students must provide a reference letter of recommendation letter of at least two copies. It is part of the admission process. It must be directly from the various Individuals who have been in charge of the student’s performance, growth, and upbringing.
A well-written application essay can be a basic factor to obtain admission. The primary aim of this essay is to enable students to express themselves formally. They are asked to put down in words the reasons to be considered for admission into this program, and they are criticized and evaluated on style, content, and tone.
An interview takes place for International students on Skype after a review of the candidates’ application has been evaluated. The admitted students will be listed out to enable them to partake in the interview process.
Cost of Studying/Living in Canada
Foreign applicants with intentions of studying in Canada should know that the cost of the study is divided into three sections:
- Pre-Arrival Cost:
It is one of the essential costs for international students. International students must acquire a Canadian visa and study permit for the period of their study and stay in Canada during their MBA program; other fees also include health insurance, IELTS fee, etc.
- Cost of Living:
The Cost of living in Canada relies on the city, University, or location you’re staying in. There are other components that determine the cost of living like accommodation, transportation, food, books, etc.
- Cost of Study:
The tuition fee depends on the University. Various schools have different tuition fees. However, some schools run a scholarship scheme. There’s a probability of paying a total fee from 32,574 to 89,174 USD for a yearly MBA program. It is advisable to check the desired school to have an exact or specific price before making payment.
Read also: Top 5 Tuition Free Universities in Canada
Top MBA Schools in Canada
In the year 2020, about nine globally recognized Canadian Universities topped the chart of 150 Universities for MBA worldwide. Obtaining an MBA in Canada provides the highest graduate salaries. International students should be aware that some requirements to pursue an MBA in Canada include four years of undergraduate degrees, GMAT scores, Proficiency in English, and prior work experience. Some of the top schools are:
- ROTMAN School of Management:
This institution was founded in 1901 by Joseph Form, and the school is recognized for its multicultural worth and has made contributions and astounding changes in the economy. ROTMAN is part of the University of Toronto situated in Ontario, and it has been ranked among the world’s best Universities. The institution runs an Executive MBA program as well as other different programs and disciplines. The processing fee is about 195 CAD for an application portal.
- The University of Toronto:
The University of Toronto (U of T) Canada is recognized globally as a leading higher education and research institute. The University was established in 1827 and had the main campus in St. George, Ontario. The institution has paved the way for world-class education with three locations in Canada with more than 980 programs at the undergraduate and graduate levels. The University of Toronto offers different courses of various disciplines.
The University has over 93000 students with over 23,000 international students. The test score of GMAT/GRE is compulsory for admission into Master’s courses like MBA, MSC, etc. It is required that the IELTS score for MBA or other Master’s courses be 7.0 or more. The University of Toronto in 2020 was ranked number 16 for graduate employability according to QS rankings. Graduates from this University are usually offered high-paying jobs.
- Ivey Business School:
Richard Ivey School of Business, also known as Ivey, is a university of Western Ontario’s business school formed in 1922. The school is located in London, Ontario, Canada, and it is the first international business school to inaugurate a permanent campus in Hong Kong. The number of students is over 1,600, and the institution runs a full-time program with an online application method. There are also other programs offered in the institution. The Application fee for MBA in this business school is about 150 CAD.
- The Sauder School of Business:
The Sauder school is a public academy leading business school recognized for outstanding research excellence and among the top international business institute. The school runs a 16 monthly full-time MBA program and also other part-time programs. The school has been ranked among the top schools of business in the world. The institution motivates students to be Leaders and promotes renewed and creative thoughts of providing solutions to the world’s problems.
- York University Toronto:
The University is located in Canada, a public institution established in 1959. York University provides MBA in Canada under the Faculty of Schulich School of Business. This school is recognized as the best in Canada, with numerous rankings. The program is for 16-20 months; in the year 2020, the institution ranked 5th position in Canada while the Schulich business school was ranked no 1 in 2019, leading other business schools.
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MBA in Canada takes a long time to achieve, but the result is a big benefit and investment on oneself. One needs to make good plans and ensure they are financially stable to bear the costs. Although there are scholarships awarded to international students, it’ll be of great benefit to check on less expensive schools or those with scholarships to obtain an MBA in Canada.