MBA, also known as Masters in Business Management is one degree that is very popular among students these days. Canada is a great destination to pursue management studies. Students from around the world are applying to Canadian business schools. Many students globally prefer Canada for their higher studies. Canadian universities offer a wide range of courses. Students around the world are reaping the benefits of studying in this such an international environment. Canada is a country that welcomes foreign students warm-heartedly. An MBA in Canada is a lifetime opportunity for students that will open many doors for a student’s career. A student will gain essential knowledge and skills which will prove useful in your career ahead. The immigration rules in Canada are much more relaxed than in the US or UK. Read here about the scholarships for students in Canada.
Canada is one of the top favorite of international students from all around the globe. Now that a good number of Canadian universities feature in the global top rankers, be it for MBA that we are focusing at, or otherwise, no wonder, Canada has the imperium of higher education and a haven for students from all across the globe. If you are an MBA aspirant and are aiming for an MBA from Canada, here is a Comprehensive Guide to an MBA course in Canada.
Why Study MBA in Canada?
Did you know, that over 7 out of 150 Canadian universities have made it to the QS world rankings for the year 2018? In addition, Canada has been among the top countries to study abroad, for years in a row now. An MBA in Canada is a must and should be up for grabs when you have the chance because of the following reasons.
- Quality Education: Canada is known for its quality education, that garners the attention of students from all over. It provides the students with the right balance for academic as well as practical knowledge, aiding an overall development of students.
- Global Leaders: Along with a few others, Canada is a global leader in terms of the education and immigration facilities it offers. Then, there is free healthcare, childcare, and a great quality living. Therefore, it is one place you shouldn’t think much about, just seize the opportunity.
- Job Opportunities: The job scenario in Canada after an MBA degree is as bright as elsewhere because MBA graduates are currently very much in demand. There are several employers that choose MBA graduates for employment.
- Permanent Residency and Citizenship: One of the greatest strengths for Canada and its higher education system is the permanent residency options it has to offer post study and some years of work. The PR system is a merit and point-based system that offers 5 years of permanent residence after which, you can be eligible for citizenship as well.
- The immigrant-friendly environment on and off-campus: Canada is known for its melting-pot reality as far as multiculturalism is concerned. Thus, it’s a perfect host for all kinds of people flying in from different corners of the world.
Top MBA Colleges in Canada
Here is a list of the top ranking MBA colleges in Canada.
- Ivey Business School, University of Western Ontario
Ivey is one of the most popular business schools in Northern America and is located in London, Ontario. As far as the rankings are concerned, it ranks in the 48th, safely among the global top 50. For its MBA programs, it is the most sought after for entrepreneurship, alumni outcomes, employability, return on investment (ROI) as well as leadership and diversity. It offers MBA, EMBA and PhD courses in executive education. Ivey has gained the reputation of being the best business school in a quick span of time, it has the best full-time MBA program in the world outside of the United States. It is one of the oldest business schools in Canada. Ivey has become a milestone in the education field by establishing the nation’s first MBA and PhD program in Business.
- The Joseph L. Rotman School of Management, University of Toronto
Often called as the top among the Canadian B-school list, Rotman, of the University of Toronto is among the best in the world. As per the current rankings, it is the 43rd worldwide. It is located in Downtown Toronto and offers full-time, part-time and executive MBA programs, Master of Finance program, a Master of Management Analytics, a Graduate Diploma in Professional Accounting, and a doctoral program, the Rotman Ph.D. The University of Torontoisa pretty famous and has been offering various courses in commerce and management. The school was formally established in 1950 but the university has a legacy of parting education since 1901
- The Desautels Faculty of Management, McGill University
Desautels Faculty of Management, is a part of McGill University. It is ranked 66th in the QS Global MBA Rankings 2018. Desautels offers part-time as well as full-time MBA programs in courses such as Finance, Marketing, Strategy & Innovation, Analytics, and over 50 other electives courses.
- Schulich School of Business, York University
The Schulich School of Business of the York University, is located in Toronto and is ranked joint 82nd in the world for its MBA programs. In Canada, it tops all MBA programs as per the Forbes’ list and has even pioneered the first ever international MBA program with the Kellogg-Schulich Executive MBA course.
- The Smith School of Business, Queen’s University
The Smith School of Business of the Queen’s University, is ranked 88th globally and among the top 10 in Canada as well.It is located in Kingston, Ontario and offers part-time, full-time MBA courses along with a unique Accelerated MBA for Business Graduates. In addition, it is known for its AACSB (United States) and the EFMD (EQUIS) (Europe) accreditation.
- HEC Montréal
HEC is the B-school of the University of Montreal and is known for its style of the French Grandes Ecoles. It is ranked joint 94th in the race of the top MBA schools across the globe. It offers MBA programs and a special joint Executive MBA program (EMBA) with McGill University.
- The UBC Sauder School of Business, University of British Columbia
UBC Sauder School of Business, as the name suggests is the Business school of the University of British Columbia and is located in Vancouver, Canada. UBC Sauder ranks in the 121-130th bracket globally, owing much to its MBA and IMBA programs. UBC Faculty of Commerce and Business Administration was established in 1956, later it was renamed in 2003 as UBC Sauder School of Business.
- Alberta School of Business
The Alberta School of Business, of the University of Alberta, is located in Edmonton, Alberta. It is ranked in the 141-150th bracket and is the longest accredited B-school in Canada, by the AACSB.
- DeGroote School of Business, McMaster University
DeGroote’s B-school, of the McMaster University, is located in Hamilton, Ontario. Its MBA is ranked in the top 200 institutions in the world and is popular for its co-op MBA as well as the Health Services Management specialization in its MBA courses.
- Sobey School of Business, Saint Mary’s University
Sobey’s of the Saint Mary’s University is located in Halifax, Nova Scotia. It is ranked 151-200th bracket internationally and is one of the most comprehensive business school in Atlantic Canada.
Cost of MBA in Canada
As per the estimates, an average MBA would cost you around C$ 30,000. However, given below is a breakup for all costings that play a major role in the overall MBA package.
Tuition for Regular MBA– C$ 1,220- 110,000 depending on the duration of the MBA course, that is one year or two years.
Tuition for EMBA– C$ 67,000- 137,000, again depending on the MBA duration.
Rent– C$ 400-1500, varies from province to province
Household costings– C$ 700-800
Food– C$ 280-300
Other expenses, such as transport, internet, fun activities, etc. vary from person to person.
Scholarships for MBA in Canada
If MBA fee is a problem for you and you wish to go the scholarship way, then here are some scholarship options for MBA programs in Canada that will prove to be helpful.
How to Apply for MBA in Canada?
In order to apply to your desired course, do the following:
- Apply Online: You can apply online, directly for the university study programme.
- Download and Fill up the Application Form: Downloading the application form and submitting all required documents is one of the key steps of any type of university application.
- Upload the Documents: All education certificates and other details need to be uploaded before submitting the application form.
- Pay the Application Fee, if applicable. For most university, there is an application fee that is levied on each application filed. All these steps qualify for the completion of the application for most universities, if they don’t have other procedures mentioned.
- Letter of Offer and Admission Process: Next, if your application is accepted successfully, then you will receive a ‘Letter of Offer’. Lastly, in order to confirm your application, you must reply to this letter by signing and sending an acceptance of the offer.
- Visa Application: Once you receive your Letter of Acceptance and your admission gets confirmed, then you need to head on to apply for your study permit in Canada.
How to Apply for Visa for MBA in Canada?
To apply for student study visa online for Canada, you must know the following steps.
- Apply Online: Log on to the Canada visa website, create an account and login.
- Fill the Form: Fill out the application form and upload the required documents.
- Make the payment: Once you have completed filling out the form, make the payment.
- Submit the form: To complete the application process, submit the application form.
The processing time for a study permit for Canada, from India, is about 7 weeks.
Eligibility and Requirements for MBA in Canada
In order to apply for your intended B-School, you need to appear for
- IELTS/TOEFL/PTE: Depending on the language proficiency test that your university accepts, you must appear and get the score required.
- GMAT/GRE: Next, depending on the type of MBA and the aptitude test accepted by the university, enroll and get a good GRE or GMAT score.
As per the eligibility conditions, a candidate must have:
- Education: At least 16 years of education, generally the formula followed abroad is of 12 years of schooling along with 4 years of graduation. (12+4 rule). However, for those with 12+3 years education, can either enroll for a Master’s course here and complete it, or just complete the first year, but from a recognized institution.
- Work Experience: Most of the MBA universities give preference to students with work experience between 2-1o years. The reason behind the important given to work experience is the knowledge of managerial and organization work along with the experience of the corporate or business environment makes a great prerequisite for all MBA applicants, who will be the entrepreneurs of the future.
- Letter of Recommendation or LOR: The LOR is meant so that the admission officers have a better understanding and a clearer picture of your merit. This helps them in assessing whether you are a suitable candidate or not.
- Statement of Purpose or SOP: Your SOP should contain everything that you wish to communicate with the admissions board so that you can convince them that you have the spark in you. It should be a personal statement that will make you stand out from numerous persons who have similar qualifications.
- MBA Essay: Your resume is a summation of your career progression and accomplishments, your interests and extracurricular activities.
- MBA Resume: A good MBA resume marks your entry into the hoard for an MBA admission seat into the Canadian universities. The most relevant and right kind of work experience along with the ‘experience’ and learning you received from your role at an organization along with what you take forward with you, is what your MBA resume should be about.
Job Scenario after MBA in Canada
Here is an estimated salary package as per the MBA programs of the above-listed B-Schools.
- University of Toronto – Rotman School of Management- $101,270
- Queen’s University- Stephen J.R. Smith School of Business- $93,102
- Western University – Ivey Business School- $99,142
- Schulich School of Business, York University-$91,860
- University of British Columbia – Sauder School of Business- $59,000
So, in a nutshell, if you have the chance to pursue an MBA course from Canada, you definitely must not miss the chance. To seek admission into one of the top Canadian B-schools, you must have a strong profile with application for admission, filled in on time along with the required documents.
MBA in Canada: Program Overview
Why study an MBA in a Canada from One of the Best B-Schools?
- Canada is one of the world’s wealthiest nations and also one of the safest country in the world.
- MBA students also have an opportunity to stay after their studies.
- Fees for Canadian MBAs are generally cheaper than for their US counterparts.
- Canada has several business schools listed in the top 100.
- It offers over 90 elective courses and the students will also have the opportunity to customize their MBA experience by choosing to specialize in a particular area of interest by opting for MBA Majors
Popular courses in MBA Majors or the Best Courses in MBA
These are the most popular MBA courses in Canada:
Major in Brand Management
This is a course that has gained much importance in recent years. The key to effective marketing is understanding customer’s choice but the success of a business is in delivering what they want, when they want it, at a price they want to pay. This requires a professional who can analyze both hard numbers and qualitative information and understand the reasons behind customer behavior, and to develop a strategy based on this analytical studies that will help the business progress. The MBA in brand management is a course that will allow the students to select courses from a broad range of marketing areas. It includes many fields such as advertising, internet marketing, and international marketing. Analyzing customers and understanding why they buy certain products and developing successful programs for communications and distribution is important for a business. In the process, a student will develop a deeper understanding of how customers make decisions and will also learn how to influence them. Students will also have an expert knowledge of how to analyze markets and the strategies of competitors and develop successful advertising and promotional strategies that will help in successful development and management of a brand.
Major in Global Management
The international markets have high potential and offer valuable opportunities for business expansion and growth. This program will help a student develop all necessary skills to guide a business in a highly competitive and dynamic environment. This course is apt for the students who aspire to be a manager or an entrepreneur by learning the skills needed to compete effectively in a global economy. The Global Management major is a program that is designed to provide managers and entrepreneurs with the knowledge and skills to tackle the challenges that they might have to face in the international market and to compete effectively in a global economy. This is a major program that combines courses in business management and economics with the essential international component. The major helps the students by equipping them with the necessary skills needed for the development of effective business strategies for entering and competing in international markets. The student also learns effective management in diverse cultural and political settings.
Risk Management and Financial Engineering
A business involves many risks, without risk, no business can exist either. The risk is an unavoidable part of a business, therefore, risk management is important in any kind of business. There is a high demand for professionals who have quantitative skills as well as an understanding of the risk management. The Risk Management and Financial Engineering major provides a student with access to a wealth of career opportunities in this exciting field. No matter what kind of business, it is always subjected to certain risks. The major will allow a student to have perfect understanding the models and contribute to forming strategies for minimizing its regulatory capital requirements.
MBA Course in Canada
MBA courses in Canadian universities have a lot more than to just design the business stories or get great jobs. Canadian universities offer a lifetime study experience for its students. Read here if you are confused whether to choose a one year MBA program or a two year MBA program. These are the best courses for MBA in Canada. If you have something to add to the list, please do so in the comments section. Also, please don’t forget to give your suggestions and feedback.