Day: August 12, 2020

Canada has quite a few B Schools in Top 100 list. Check out this thorough analysis of MBA in Canada – best programs, cost, scholarships etc.

Why consider an MBA in Canada?

Canada has one of the best educational colleges and universities in the world. It has excellent MBA programs, and the applicants often prefer Canadian universities as their dream institutes. Multicultural society, affordable education, and high quality of living standards are few of the many factors due to which students should consider applying for an MBA in Canada.

Cost of living in Canada

An MBA degree from Canada is quite expensive, and on average, regular MBA cost about $30,000. To maintain good living standards in metropolitan cities of Canada, you can expect around $2500 – $3000 of expenses per month, which includes living costs, accommodation rent, and food. It may seem very expensive, but once the students have completed their MBA, they are offered high-paying jobs with good initial packages.

Quality of life in Canada

Canada has very high living standards, which are a huge attraction for pupils all over the globe. In addition to a multicultural society, Canada has one of the best healthcare and education systems. The tuition fees of Canadian universities are much lower than in the USA, but it should be kept in mind that MBA programs are still a very costly degree in Canada.

Also read: MS in Canada compared to MS in USA

Top Business Schools in Canada

According to the Global Financial Times ranking of educational institutes, the top 8 business schools in Canada are:

1. Rotman School of Management – University of Toronto
2. Ivey Business School of University of Western
3. Queen’s University- Stephen J.R. Smith School of Business
4. Schulich School of Business, York University
5. HEC Montréal
6. McGill University
7. The University of British Columbia – Sauder School of Business
8. University of Alberta

Top Executive MBA programs in Canada

The purpose of the executive MBA programs improves the managerial capabilities of experienced business professionals belonging to different sectors. It provides the opportunity of expanding career potential, enhancing leadership qualities, and obtaining experience in multicultural international management. The majority of the Executive MBA programs in Canada are highly flexible in terms of scheduling and adapting to the working hours of the professionals.

The top Executive MBA programs in Canada are offered by:

1. Rotman School of Management
2. Queen’s Smith School of Business – The National Program
3. Queen’s Smith School of Business, Cornell-Queen’s
4. Kellogg – Schulich    
5. HEC Montréal/McGill           
6. University of Alberta
7. Concordia University
8. McMaster University
9. University of Montréal
10. University of Waterloo
11. University of Western Ontario

Also read: Courses with high ROI in Canada

Cost and Duration of MBA at Top Business Schools in Canada

Institute	Duration	Average Fee
Rotman School of Management	2 years	$84,028
York University – Schulich	2 years	$99,400
Queen’s Smith School of Business	1 year	$71,445
University of Alberta	20 months	$53,392
McGill Desautel	20 months	$89,000
UBC Saucier	16 months	$60,440
HEC Montreal	1 year	$33,200
Ivey Business School	1 year	$101,500

Eligibility to pursue MBA in Canada

The following things are necessary to get enrolled in an MBA program in Canada:

Bachelor’s Degree

The candidates wishing to pursue an MBA from Canada must have a Bachelor’s degree or an equal qualification of 14 years from a recognized educational institute.

Work Experience

The majority of the universities in Canada give preference to candidates who have work experience of at least 12 months in any field related to the business. Having work experience is not an obligation for the candidates, but it increases their chances of getting admission in the desired MBA program in a Canadian university.

Command over the English Language

Candidates whose first language is not English, as the students from India, are under the obligation to prove their proficiency in the English language by passing standardized language tests like IELTS or TOEFL.

GMAT

GMAT is the standardized admission test for admission in postgraduate programs in most of the foreign universities. A good GMAT score is necessary to get admission to a top MBA program in Canada.

University	GMAT Score
University of Toronto	672
McGill University	655
University of Western	655
Queen’s University	650
University of British Columbia	646
HEC Montreal	630
University of Alberta	623

Also read: Best MBA programs in Europe for Indians

Application Process

The application process of seeking admission to an MBA degree in a Canadian university is extensive and quite exhaustive for many candidates. However, if you start planning early and acquire all the information necessary to get admission into your dream university, the whole procedure can become easy for you. You should start the application process at least 14 to 19 months before the start of your decided session. Admission forms are available on the official websites of the universities. If you face any problem in getting the form or other required documents, you should contact the admission office of the university immediately.

Documents Required

In addition to any documents that may be asked by the respective universities you are applying to, the documents that are generally required by all institutes are:

1. Academic Records: All of the necessary documents and certifications required to verify your record, especially related to the most recent graduation degree.
2. English Proficiency tests: IELTS or TOEFL scores are required to determine your command over the English language.
3. Standardized Admission Tests: For postgraduate programs, like MBA, GMAT scores are the basis of application.
4. Work Experience: If you have work experience in any field, you must produce a certification or some kind of document to prove it.
5. Financial Records: Bank statements and other financial records are required as proof of your financial health.
6. Recommendation Letters: These letters work as the testimonial of your behavior and work ethics. They can be produced from your previous supervisor or your former university faculty who have observed and worked with you.
7. Essay: Personal essay or statement of purpose play a significant role in the admission of a candidate. The admission committee assesses the candidates on the basis of their personal essays and finalizes their admission on its basis as well.
8. Visa and legal documents: Legal documents related to visa and citizenship.

If you have managed to get admission to the university, a ‘Letter of Offer’ will be sent to you, and a response will be expected from you as well.

Financial Aid & Scholarships in Canada

There are very few and limited scholarships available for MBA programs in Canada because the MBA is a professional degree. However, candidates with exceptional academic records and achievements like extraordinary extracurricular activities can get scholarships.

Candidates with impressive achievements and an excellent score in GMAT are usually given a 50% scholarship off the total fee.

Similarly, numerous financial aid programs are available to help the students who have financial hurdles in getting an MBA degree from Canada. Some of the most popular financial aid schemes in Canada are:

Ontario Graduate Scholarships (OGS)

OGS is funded by the Canadian government. It covers the master and doctoral programs and helps many students in getting a good financial aid plan.

University of Waterloo Graduate Scholarship

The University of Waterloo offers scholarships at the graduate level to the deserving and exceptional candidates. It is a highly-competitive scholarship as a large number of candidates apply for the scholarship.

Central Sector Scheme of National Overseas Scholarship

Central Sector Scheme is an initiative by the Government of India. It gives scholarships to the meritorious students who wish to pursue a master’s or Ph.D. in a foreign university. All of the major countries are covered under this scholarship expect the United Kingdom.

Also read: Study abroad scholarships for students