Best business schools in Canada, Requirements, and Costs
MBA in Canada
What are the best business schools in Canada, requirements, and costs?
Study abroad programs require a lot of planning and decision making to get enrolled in one’s preferred university and program. Nowadays MBA in Canada has become a widely popular overseas education destination among study abroad aspirants.
Why Choose MBA?
There are some students who face ambiguity in choosing an MBA or MSc program for their studies. For students who have a keen interest in learning business skills and taking up management positions, an MBA is a perfect choice. Moreover, an MBA degree opens a plethora of job sector opportunities for recent graduates. Also, an MBA program takes one through holistic development and learning experience. The students not only familiarize themselves with key business concepts and jargon but also improve their communication skills. Pursuing MBA from the best MBA colleges in Canada gives people the chance to take up challenging jobs that require skilled problem-solving in a business environment.
Why MBA Colleges In Canada For MBA Aspirants?
There are a number of MBA program destinations where students hope to pursue their degrees. However, Canada has risen to the top of this list for a variety of reasons. The cordial immigration policies in Canada are one of the leading reasons for this. Moreover, Canada provides many opportunities to start one’s career after completion of degree programs in the country.
The economy of Canada is burgeoning at a profitable rate opening up more opportunities for new graduates. The country also provides exceptional standards of living in some of the beautiful education destinations like:
Ontario and many more
In addition to the high living standards for the students, the MBA colleges in Canada provide affordable degree programs that are internationally recognized by all the leading enterprises. The program curriculum gives chance for students to work on in-office internships to get hands-on experience with the business and corporate world. Thus, students can begin building their profiles well before they graduate from college.
What Is The Duration Of MBA Programs In Canada?
It is important for the MBA applicants to be familiar with the course durations that they can opt for. There are basically three different types of course durations in an MBA program:
2 Year MBA Program: The most common program that students apply to is the standard 2 year MBA. The course lasts for a complete 2 years covering all the curriculum and internship credits.
Accelerated MBA Program: The accelerated MBA program is an 18-month long course available in many MBA colleges in Canada.
1 Year MBA Program: Lastly for students who are working or already hold a Master’s degree Canadian universities provide the option for 1 Year MBA program. This program is available in many colleges like the Ivey MBA Program at McMaster, Thompson Rivers University, and Edwards School of Business MBA to name a few.
What Are The Eligibility Requirements For Application to Canada?
All the colleges offering MBA programs for international or non-international students specify certain eligibility criteria and list of prerequisites for the applicants. There are some basic requirements that are necessary to be fulfilled to apply for MBA in Canada.
Bachelor’s Degree: The applicant should have a 4-year Undergraduate degree from an internationally recognized institute. The degree can be in any field of specialization like business, technology, engineering, and more.
Work Experience: For applying to MBA colleges it is necessary to have some relevant work experience. The minimum duration of work experience required for eligibility might vary from institute to institute. But on average, a work experience of 2 years or above is preferred.
GMAT/GRE Scores: The Graduate Management Admission Test (GMAT) is a compulsory requirement for the applicants. Different universities may have varying section-wise and overall score cut-offs to decide eligibility. This information is often available on the program description page of the university websites. Many universities and colleges have also begun to accept GRE scores as well for applications to MBA programs.
English Proficiency Exam Scores: For applicants residing in countries where English is not the primary language the aspirant needs to provide scores of a recognized English proficiency exam like TOEFL or IELTS.
What is the cost of doing an MBA in Canada?
The tuition fees of MBA programs in the best MBA colleges can range anywhere between CAD $20,000 to CAD $60,000 per annum. On average the tuition fees is around CAD $30,000. Mostly, the fees for international students tend to be higher than that for local Canadian applicants. The top MBA colleges like Richard Ivey School of Business at the University of Western Ontario have an annual tuition fee of over CAD $60,000. Whereas there are university MBA program options for students looking on a budget. Programs at universities like Dalhousie University, Memorial University of Newfoundland, and more have an annual fee of within CAD $20,000.
How can one apply for scholarships in Canada?
For excellent applicants with impeccable skills and merit in the field of relevance to their MBA program, there are some scholarship programs and fee waivers. Often universities might also waive partial fees for students having exceptionally high GMAT/GRE scores. Some of the commonly available scholarship programs are as follows:
Ontario Graduate Scholarship (OGS): OGS provides scholarship opportunities for applicants at master’s and doctorate level. It is a government-funded program that aims at bringing the quality education for the students.
University of Waterloo Graduate Scholarship: Students of merit enrolled in graduate programs at the University of Waterloo are eligible for this scholarship.
Go Clean Scholarship: Students who want to pursue their further education overseas can apply for this scholarship. The scholarship is awarded on a merit basis.
It is possible to gather more information about each of these scholarships like fee waiver, eligibility, number of awards, and more on their scholarship websites.
The Process To Apply For MBA Programs
The MBA applications to the best MBA colleges in Canada tend to be a little lengthy and comprehensive. There are a number of documents that need to be submitted to complete the application. It is therefore advisable for aspiring students to begin their application process early. Observing a gap of 15-18 months between the application submission and the start of the session is a good idea. Some of the basic documents requirements for the completion of MBA applications are mentioned below:
All the detailed transcripts of the graduate program attended by the applicant need to be uploaded. These transcripts must in English languages. Any other requirements can be found on specific program pages on the university websites.
Scores of all the standard tests like GMAT/GRE and TOEFL/IELTS need to be submitted that are required as per eligibility criteria.
The applicant's bank statements and financial documents are also necessary.
Proof of work experience in the form of a document needs to be uploaded.
Letters of Recommendation from mentors or supervisors/managers is required. Often universities specify a minimum number of LORs required with the application.
The most impactful element of any MBA application is the Statement of Purpose (SOP) or the Admission Essay. The essay needs to highlight the aspirants’ strengths, achievements, skills, and also their expectations from the program they are applying to. This essay plays a crucial role in the applicant’s evaluation by the admissions committee.
Student Life In Canada For MBA Admits
The quality of life in Canada is at par with the extravagant student lifestyle in US-backed by the considerably less costly program fees. The country is a heterogeneous community with people from different walks of life working or studying together. This provides for a lot of exposure to students in terms of cultural and personal growth along with academics. After securing admission to one of the best MBA colleges in Canada students can start making their plans for moving to Canada. Moreover, students can also take up part-time jobs to cover their living expenses quite easily.
How To Choose Best MBA Colleges In Canada
There is an array of options for students to choose from when it comes to pursuing an MBA from a Canadian university. There are some basic factors or pointers to keep in mind while choosing a college or university:
Academic Exposure: Any institute becomes internationally renowned due to its educational facilities, infrastructure, and adroit faculty members. It is a good idea to select a college on the basis of its excellence and academic exposure.
Location: Choosing a college in an appropriate location is crucial for sustenance. The factors like weather conditions, terrain, culture, and more can vary greatly according to location in Canada. For instance, people who are not accustomed to living in cold weather might want to avoid selecting colleges where weather conditions can get extremely cold.
Tuition Fee: Selecting a college that conforms to one’s expense budget is a sensible decision to avoid abounding student loan debts.
Facilities For International Students: As an international student it is an good idea to consider international student plans or facilities of the college before applying. This helps in making sure that the student can learn to fit in well and quickly.
Some Top MBA Programs In Canada
There are a number of MBA colleges in Canada. All of these institutes vary in their location, tuition fee, and certain program specifics. However, the course outline is pretty similar in most of the colleges across the country. Some of the most renowned Canadian colleges for MBA include the following:
Ivey Business School - University of Western Ontario
Rotman School of Management - University of Toronto
Desautels Faculty of Management - McGill University
Queen's School of Business - Queen's University
Alberta School of Business - University of Alberta
Edwards School of Business - University of Saskatchewan
Sauder School of Business - University of British Columbia
All of these MBA colleges provide the best in the world academic facilities and course work for the students.
What are the Prospective Job Opportunities Following An MBA in Canada?
The broad range of opportunities that open up after the completion of an MBA degree can be astonishing. It is believed that an MBA graduate can land a job with an average annual salary of CAD $100,000. There is a versatile set of sectors which offer high paying jobs for recent MBA graduates like:
Data And Business Analysis
Marketing and Sales
Product or Project Management
How to Get Post-Graduate Work Permit in Canada ?
An interesting thing about studying an MBA in Canada is the facility to qualify for a Post-Graduate Work Permit (PGWP). On completion of the degree from a government recognized institute MBA students can apply for PGWP with the following guidelines:
Any student who has completed a 2 Year MBA Program qualifies for a PGWP of up to 1 year after course completion.
In case of program duration ranging between 8months to 2 years, the students are allowed to stay in Canada for a duration equal to their program length.
Also the students are eligible for permanent residency (PR) under the Express Entry Program.
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