Before enrolling in an MBA program in Canada, students must learn a variety of factors, including entrance requirements, fee structure and tuition, scholarships, and future job and employment prospects of studying overseas. As the world’s second-largest country, Canada has much to offer both tourists and researchers.
The Canadian landscape is notable for its several internationally acclaimed and highly recognized public and private universities, along with hundreds of national parks, lakes, mountains, and other tourist attractions along with recreational activities. Students that complete their MBA from Canada tend to find job and employment opportunities in Canada.
The country is home to around 250 various ethnic groups. The surroundings and the environment make the students feel at home. Even though a variety of incentives entice overseas students to study in Canada, the country’s lively mixed demography is worth experiencing.
Reasons for studying in Canada:
World-class colleges, beautiful landscapes and scenery, and high quality of life, it’s easy to see why overseas students choose Canada for their post-secondary education. This is far too specific for those interested in earning an MBA. The average yearly fee for an MBA program in Canada ranges from 20,500 to 112,000 CAD, depending on specialization and university, making studying for an MBA in Canada unique.
- According to the global MBA rankings, Canada has 20 business schools ranked among the top 200 in the world.
- Business management degrees are among the top ten subjects that international students seek to study in Canada.
- Six Canadian business schools and colleges are placed in the top 100 in the world in the QS MBA rankings (2021).
- As per the Financial Times MBA Rankings 2021, 11 Academic institutions of Canada are among the world’s leading 200 institutions.
- MBA candidates enjoy a plethora of post-study work opportunities. The Canadian government fosters a diverse spectrum of SMEs and startups, increasing the demand for MBA applicants.
Categories of MBA in Canada:
In Canada, several different types of MBA degrees are available to satisfy the needs, interests, and objectives of international students. The following are a few categories:
- Full-time MBA
If you wish to enter the job market as a leader, a full-time MBA in Canada is ideal. This can be an everlasting opportunity to learn about the Canadian workforce. The duration is the course is two years. For international admissions, GMAT and language proficiency tests are mandatory in order to be considered for admissions.
- MBA Part-time
This course is ideal for candidates who want to pursue a management degree while working. Depending upon the university of admission, the duration of the course varies from three to six years.
- Executive MBA
This degree gives a combination of the corporate world and classroom learning. The degree is for working professionals. Candidates can expect overall personal and professional development during their thirteen years of study.
Preferably MBA courses in Canada:
- MBA in Finance
MBA in finance is a perfect fit for those international students who wish to build their careers in financial reporting and analysis, portfolio management, corporate finance, market finance, or other related fields. The duration of the course in for 2 Years.
- MBA in HRM
All leading Canadian universities and colleges offer excellent programs in HRM. The program is a perfect blend of people management, the hiring process, training, and employee productivity.
- International MBA (IMBA) in Canada
Students who wish to gain international exposure can look forward to applying to this course. international field studies, an integrated curriculum, global courses, and earning a globally recognized diploma are the major highlights of the course. The average duration of the course lasts between 20 to 28 months.
Advantages of earning an MBA degree from Canada:
International graduate and postgraduate students receive travel benefits and subsidies by using their international student identity cards. Canadian cities like Montreal, Toronto, Vancouver, Edmonton, Ottawa, and Calgary are student-friendly which altogether make the MBA learning experience a rewarding one. These cities have a vibrant culture. Other benefits include:
These MBA programs at Canadian institutes offer international students a diverse exposure to global business as well as the chance to compete for highly renowned and distinguishable and scholarships.
When compared to studying in the United States, the United Kingdom, or even Australia, studying MBA in Canada is considered very affordable in terms of both course tuition and living costs. Due to its excellent educational value, Canada has long been the preferred destination for international students aspiring to be prospective corporate executives and business leaders.
- Global rankings
According to rankings and accreditation standards such as the Times Higher Education, QS Research, and Academic Rankings of World Universities, Canada is one of the top countries for international education. The majority of Canada’s best MBA programs are ranked relatively high in these international rankings.
Eligibility for MBA programs:
Candidates studying for an MBA in Canada should have definite specialized academic credentials because the colleges offering exceptional postgraduate business programs in Canada have stringent admission requirements. The exact eligibility requirements that applicants must meet in order to apply to and be admitted to prestigious business schools in Canada include:
- Bachelor’s degree
Students who wish to pursue an MBA at any of Canada’s top institutions must have a university graduate degree. The bachelor could be in any domain, but it must be from a well-known university.
- English Language Proficiency
Having to pass English languages proficiency exams such as the PTE, TOEFL, or IELTS is required for individuals interested in studying MBA in Canada.
- Job experience
However it is not a requirement, most Canadian academic institutions prioritize candidates with past job experience in an appropriate field of work.
- GMAT score
Moreover, to be considered for enrollment to some of Canada’s best business schools, candidates must have a strong GMAT score.
Requirements for an MBA in Canada:
Several documents must be furnished to the relevant Canadian university. These requirements may vary from person to person and across different universities. Common documents include:
- Academic transcripts and certificates list
- Proficiency exam scorecard
- Statements of Accounts
- Proof of work experience (if any)
- Letter of Recommendation (LOR) (at least 2)
- Statement of Purpose (SOP)
- MBA Essays (if needed)
- Updated CV/Resume
The fee structure in Canada:
Students considering an MBA in Canada must be informed of the fee structures of several well-known Canadian universities. The majority of MBA programs in Canada charge somewhere around 32,000 and 90,000 USD, which roughly equates to between 24,00,000 and 65,00,000 INR for Indian students.
Other Canadian universities, on the other hand, have MBA course fees ranging from $5,000 to $13,000 per year (i.e., 3 to 10 lakhs INR). This apart, the TOEFL, IELTS, Visa application, and health insurance fees must be paid initially, which can range from $160 to $250, $185-$190, $178, and $10,000, respectively.
Students willing to pursue an MBA in Canada are more likely to obtain academic grants due to the high fees charged by some of Canada’s most prestigious business schools. There are numerous scholarship initiatives available to assist international students in dealing with this financial burden. These programs give outstanding students the opportunity to pursue excellent professional opportunities in Canada. MBA scholarships in Canada span from $1,500 to $10,000, which equates to approximately 1 lakh to 7 lakh INR for Indian students.
Salary and job avenues:
There are numerous opportunities for the right candidate. MBA graduates are paid among the highest in the world. After completing their MBA program, they can work in a wide variety of fields, including:
● IT services
● Accounting & consultancy
● Health industry
● Oil and Gas
● Legal jobs
MBA graduates can also work for the Canadian government in a variety of departments, assisting in the administration’s efficiency. Management graduates can pursue careers in technical management, sales, marketing, product management, and project management. The best part about getting an MBA in Canada is that international students who complete a full-time MBA program in the country are eligible for a three-year work permit. Because Canada’s diverse corporate sector operates on a global scale, such students have access to a broad variety of employment opportunities, including:
Small and Medium Enterprises:
A large number of Small and Medium-Sized Enterprises (SMEs) in Canada are searching for eligible MBA graduates to help them manage their businesses. This region provides numerous opportunities for both Indian and international students.
Consulting and Finance:
In Canada, the most widespread employers of MBA graduates are financial services and consulting firms. Canada is home to many well-known organizations, hence why so many students choose to pursue an MBA in Finance while studying.
Annually, half a million international students choose to study in Canadian universities and colleges because of visa flexibility and internship opportunities with reputable management firms. The Canadian job sector is highly competitive. And besides, the industry is relatively small in Canada than it is in the United States, so international students must do everything possible to increase their chances of landing a job in Canada. The technology sector is one of a global company’s fastest-growing segments which hires MBA graduates for strategic roles.