The Master of Business Administration, or MBA, is one of the most prestigious post-graduate degrees in the world.
The two-year degree unlocks the door to a multitude of career opportunities in the business world.
MBAs have many benefits and are recognized by companies worldwide, but the cost of the degree discourages some prospective students. However, the growing reputation of Canadian business schools, combined with their often affordable tuition, has enticed many international students to pursue their MBA in Canada.
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Why MBA?
An MBA degree will teach you how to run your company more effectively. MBA programs are beneficial to those who wish to improve their management skills in a company environment.
Companies often choose professionals with exceptional listening experience and the potential to address complicated problems in a challenging corporate world to take on leadership positions.
The following are the advantages of seeking an MBA in Canada:
- The admission and visa procedures are candid.
- Canada’s educational institutes/colleges have globally accredited degrees at a reasonable pace.
- Business programs provided by Canadian institutes help MBA practitioners advance in their careers, thus increasing their earning opportunities.
- Internship programs enable students to gain experience in the industry.
- Since the MBA degree instils real-life experience, MBA practitioners learn about the different facets of the business world.
About Canada
International students may wish to consider attending business school in Canada for a variety of reasons.
The country, which is resided in North America, is a modern, westernized country with a diversity of cultural outlooks.
It is home to 35 million people. It is one of the wealthiest countries in the world, with a high per capita income and a high Human Development Index ranking.
Studying in Canada will provide students with a foreign experience that is rich in history and culture and some of the most modern and advanced business students in the world.
Until enrolling, students can consider a few main aspects of Canada’s business education choices.
Study MBA in Canada
For students interested in studying abroad as an international student, Canada has a variety of options.
International students enrolled in undergraduate programs at Canadian universities charged an average of 14,000 CAN dollars a year. This number, however, varies considerably from one school to the next. Private schools are typically much more expensive.
International students are often accepted at the majority of Canada’s colleges and universities.
Some of the country’s most prestigious business schools are located in Montreal, Vancouver, and Toronto, but there are many other campuses.
Some programs are available in French, the language spoken mainly in Quebec. The majority of the other courses are taught in English.
Business Education Like in Canada
Students with a college diploma may be eligible to qualify for a graduate program leading to an MBA. Students who have not already done so will often enrol in undergraduate business programs in Canada and work toward a bachelor’s degree.
Most undergraduate programs last four years, with master’s degrees taking an extra two years to complete.
Some courses can be finished in less time than this, and others can take even longer.
Opportunities for International students
International students may often enrol in Canada’s higher education by applying for the programs through the preferred school.
Students typically enrol in the spring and begin classes in the fall, but some have different schedules.
If the student is admitted, he or she will be expected to acquire a student visa to study in the country.
International students who want to stay in Canada can have good opportunities.
Many students may receive work permits if internships or work programs employ them.
There are industry prospects in Canada, but there is stiff rivalry from top schools.
Cost and Life Quality
Canada provides its people with a high-quality lifestyle, as well as a variety of incentives.
The state provides world-class health care to its residents for free.
Canada’s annual MBA tuition rate is about $30,000 – $40,000, which is far less than what colleges in the United States charge.
As a result, the average cost of an MBA in Canada is lower than in the United States.
Note:
The quality of living is often affected by the city and the individual’s lifestyle.
Why study in Canada?
Canada is one of the renowned study destinations that students from all over the world choose. Studying in Canada, which is right next door to the United States, is an excellent choice for aspiring MBA students. The Canadian government is putting in a deliberate effort to attract more students.
Here we highlight the key reasons that make Canada a perfect destination to pursue an MBA degree:
Affordable Fees
Management courses in Canada are considered more inexpensive than in the United States, Australia, or the United Kingdom.
College costs and the cost of living in Canada are both smaller.
Furthermore, the location has a life both within and outside of your campus for you to enjoy diverse foods, culture, crafts, and adventures.
Quality Education
The critical motivations for seeking higher education at the world’s best universities are high-quality education and outstanding job prospects. Because of the quality learning environment provided to students with a revised program, Canadian MBA colleges and universities are some of the most preferred choices.
Business schools in the country have outstanding facilities, visibility, and scholarships.
Value For Money
Investing in your career is a long-term commitment.
Tuition payments are a significant financial burden for many students while studying overseas. Studying in Canada ensures that you can get a perfect return on your savings.
It is a chance to further your career and degrees from Canadian colleges, and business schools are nationally recognized.
An MBA program at one of these institutions provides practical and theoretical skills to help students compete in the job market.
Furthermore, students can still obtain valuable job experience in the country through off-campus jobs.
Global Ranking
Many prominent Canadian business institutions are included in well-known global rankings like Academic Rankings of World Universities, QS Study, and Times Higher Education.
Friendly Visas
Immigration processes can be time-consuming and exhausting.
When it comes to obtaining a Canadian student visa, things are a lot more difficult for international students.
Furthermore, the road to Canadian PR and citizenship becomes more available.
Experience Multicultural
Another motivation to study in Canada is the chance to live in a multicultural society. It is also a country with political prosperity, a stable climate, and a low crime rate. The official languages of the world are French and English. It provides students with the ability to learn foreign languages.
International Student Acceptance
Every year, half a million overseas students come to Canada to graduate. It provides students with the opportunity to live in a multicultural society. The government provides them with an education forum to read, prepare, and earn their best by providing political security, a stable climate, and a low crime rate.
Where to Study?
Canadian business schools are among the world’s best institutes.
Many who wish to study in the country have many opportunities.
Among the strongest are:
The following are the best MBA colleges in Canada, according to the QS Global MBA Rankings 2020.
Rotman School of Management, Toronto
This program is 20 months long and consists of 16 months of rigorous academic study and four months of internship or summer elective course. The first year is devoted to core courses.
In the second year, you can specialize in an area of interest by selecting an MBA major or from a variety of electives.
QS Canada Rank # 1
Duration 20 months
Avg. GMAT 658
Fee (USD) $80k-$90k
McGill University, Desautels
The MBA program at McGill University’s Desautels Faculty of Management is one of the most prestigious and internationally recognized degree programs globally. Desautels is an excellent place for students to advance their careers because of McGill’s global reputation and alumni network.
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 case-based business education in the real world.
The one-year MBA program, which begins in March, is tailored for high-achieving leaders eager to advance their careers.
QS Canada Rank # 3
Duration 12 months
Avg. GMAT 657
Fee (USD) $80k-$90k
Smith School of Business, Queen’s University
Queen’s University’s Smith School of Business is known for its quality, creativity, and leadership in business education.
The Full-time MBA program takes a versatile and highly customized approach, allowing you to tailor the program to your specific 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 teaches general management fundamentals in an interconnected manner.
The curriculum provides 18 different specializations and year-round research options such as full-time, part-time, and accelerated.
QS Canada Rank # 5
Duration 16 months
Avg. GMAT 667
Fee (USD) $80k-$90k
Types of MBA Program in Canada
1. Full-Time MBA
The MBA program is two years long. Accounting management, policy analysis, management statistics, and data analysis are among the topics covered in this course.
2 Specialized MBA
The MBA program is one year or less in duration. This MBA program is also referred to as corporate MBA programs or personalized MBA programs.
3. Combined MBA
The MBA program is four years long. Students may choose to pursue a joint MBA program while still studying in other disciplines.
Eligibility
To be admitted to a reputable MBA program in Canada, an applicant must have a four-year undergraduate degree, a Graduate Management Entry Test (GMAT) score, relevant job experience, and, TOEFL or Test of English as a Foreign Language score is required for international applicants whose primary education language is not English.
Any MBA program in Canada specifies the specifics of the above admissions requirements and other prerequisites.
MBA programs in Canada usually require a GMAT test score of 550, although this can vary from 500 to over 600.
However, the GMAT criterion is not strict, and an organization may consider other considerations that may substitute for a student’s low GMAT scores.
Personal comments, job history, career goals, and how the student introduces himself/herself in front of the admissions committee are all examples.
Fees for Tuition
MBA institutes in Canada can be very expensive. In Canada, the annual tuition cost for an MBA program is CAD 31,856.
Tuition rates at reputable MBA universities are typically higher for international students than for local Canadian students.
There are few exceptions, such as Simon Fraser University, Queen’s University, and Lansbridge University.
If students are on a tight budget and want to attend a school that costs less than CAD 20,000, they can look into Dalhousie University, HEC Montreal, Carleton University, and Memorial University of Newfoundland.
If the student has a CAD 20,000 to CAD 30,00 budget, they can apply for entry to Vancouver Island University, Cape Breton University, the Royal Military College, Laurentian University, and the Schulich School of Business York University.
The University of Alberta, the College of Management and Economics at Guelph University, the Sauder School of Business Business at the University of British Columbia, the DeGroote School of Business at McMaster University, and the Haskayne School of Business at the University of Calgary are the best choices for students willing to invest between CAD 30000 and CAD 45000.
Tuition cost at Queen’s University, Royal Roads University, and Athabasca University range from CAD 45000 to CAD 60000.
The best MBA programs in Canada, such as the Joseph L. Rotman School of Management at the University of Toronto and the Richard Ivey School of Business at the University of Western Ontario, cost more than CAD 60000 a year.
Application Process
Since the submission process is very long, submit at least 15 to 18 months before starting your goal session. You can also find application forms for most universities on their official websites.
The following documents are available for the application process:
- Academic record: This folder contains all records about the graduate degree.
- Standard entry tests include the GMAT and the English language proficiency exam (TOEFL/IELTS).
- Financial records and bank accounts
- Job experience: Documents highlighting your previous jobs.
- Recommendation letter from the current and former managers
- Your new and former managers/supervisors, as well as your graduate faculty, may have carefully evaluated your work.
- Statement of Intent or Admission Essay: It is a crucial component of the application. It assists the admissions committee in evaluating the applicant.
- Documentation for a visa: Visa-related documents
The basic steps for applying for an MBA in Canada are as follows:
- Step 1: Determine which colleges and courses you want to attend.
- Step 2: Go to the university’s official website and enrol in the appropriate course of study.
- Step 3: Register for entrance exams such as the GMAT, GRE, IELTS, and TOEFL.
- Step 4: Pay the enrollment fees.
- Step 5: The document will be reviewed within 2-3 weeks of the date of submission.
- Step 6: Receive an email invitation letter.
- Step 7: Validate the seat by paying a significant amount of tuition fees.
Salary/Job Openings after an MBA
There are many options available to the right candidate.
MBA graduates are among the highest paying in the country.
After finishing their MBA program, they would be able to work in a variety of fields, including:
- Accounting and advisory services
- IT support
- Employment in the health care sector, education, oil and gas, and law
- Aside from that, MBA graduates will serve in different departments of the Canadian government, assisting in the administration’s efficiency.
- In addition, management graduates may work in technical management, sales, marketing, quality management, and project management.
Financial assistance/scholarships
Since an MBA program in Canada is a vocational course, international students have fewer options for financial assistance.
Any applicants, however, may be eligible for scholarships depending on their outstanding academic performance and other accomplishments related to the curriculum.
Students are often granted partial waivers as a result of their high GMAT ratings and other academic accomplishments.
In addition, applicants may apply to the following standard scholarship programs:
Ontario Graduate Scholarships (OGS):
This fellowship aims to deliver high-quality instruction at the masters and doctoral levels. The government pays for it.
University of Waterloo Graduate Scholarship:
This scholarship is available to deserving students completing graduate studies at the University of Waterloo.
Central Sector Scheme for National Overseas Scholarships for SC and other students- (All countries excluding the United Kingdom):
This scholarship is given to deserving students who choose to earn a master’s or doctorate abroad.
Go Clean Scholarship:
This scholarship is given to deserving students who wish to further their education abroad.
Student Visa Terms and Provisions
Visas, Refugees, and Citizenship Canada (IRCC) website contain up-to-date details on the most recent visa and immigration conditions. Before applying for a visa, students can carefully review the eligibility criteria.
To apply for a Study Permit, a student must be accepted by a university on the IRCC-approved list of Designated Learning Institutions (DLI).
Once admitted, students may apply for visas at any VFS centre or online at the IRCC website.
Visa documents such as passportsized photographs, a valid passport, an acceptance letter from the university, financial and education documents, test scores, fee receipt (mandatory), scholarship and work experience documents (if applicable), and a medical record must also be sent with the visa application.
In conclusion
If you want to pursue an MBA in Canada, now is the time to take the first step and set aside all of the challenges.
Students benefit from a prominent learning curve at universities and colleges.
An MBA program in a Canadian university focuses primarily on expanding students’ knowledge base and exploring their disciplines to become top experts in the future.
Canada’s international-friendly atmosphere will lend your style a fresh twist and broaden your horizons.
