Students must understand various things before enrolling in an MBA program in Canada, including eligibility criteria, fee structure, scholarships, and future career prospects of studying abroad. Canada, as the world's second-largest country, has a lot to offer tourists and scholars alike. The Canadian terrain is known for being peppered with several renowned and highly accredited public and private universities, as well as hundreds of national parks, lakes, mountains, and other attractions to admire. Students from all over the world who desire to study for an MBA in Canada frequently have ambitions to work there as well. Although various factors lure international students to Canada, the country's vibrant multicultural demography is worth seeing. International students from all over the world feel completely at home in Canada, which is home to more than 250 ethnic groups.
Why should you Study an MBA in Canada?
With its beautiful scenery, world-class universities, and excellent quality of life, it's not difficult to see why international students select Canada for their further education. For students interested in pursuing an MBA, this is far too definite. In Canada, the average annual fee for an MBA program ranges from 20,500 to 112,000 CAD, depending on specialization and university which makes pursuing an MBA in Canada unique.
‚óŹ According to the Financial Times MBA Rankings 2021, 11 Canadian universities are among the top 200 in the world.
‚óŹ According to the QS MBA rankings (2021), six Canadian business schools and universities are ranked among the top 100 in the world.
‚óŹ According to the global MBA rankings, Canada has 20 business schools in the top 200.
‚óŹ International students rank business management programs among the top ten subjects they want to study in Canada.
‚óŹ MBA hopefuls have incredible post-study job options. The Canadian government encourages a wide range of SMEs and startups, which raises the demand for MBA candidates.
Types of MBA in Canada
Many different types of MBA degrees are available in Canada to meet the needs, interests, and criteria of the overseas students. Among them are the following:
A full-time MBA in Canada is appropriate if you want to join the job market as a leader. Take advantage of a fantastic opportunity to learn about the diversity of the Canadian workforce. The course lasts two years and students can do it full-time. To be admitted, international students must score well on the GMAT and language competence tests.
This is a fantastic chance for applicants who wish to work while completing their management degrees. This degree might take anywhere from three to six years to complete, depending on the university you choose.
MBA for Executives:
It's for students who wish to work while they study and obtain practical company experience in addition to classroom training. The curriculum usually lasts 13 months and leads to significant personal and professional development.
Canada's Best MBA Courses
MBA in Finance:
International students interested in a career in financial reporting and analysis, portfolio management, corporate finance, market finance, and other related fields should apply for MBA in Finance. The course will last an average of two years.
MBA in HRM:
Leading Canadian colleges provide great MBA in HRM programs. In the organization, you can gain knowledge and build a career in people management, the hiring process, training, and employee productivity.
International MBA (IMBA) in Canada:
This program is open to international students who desire to get global experience. You will have the opportunity to participate in international field studies, an integrated curriculum, worldwide courses, and a globally recognized diploma. The curriculum lasts anything from 20 to 28 months on average.
Advantages of Studying MBA in Canada
Studying graduate or postgraduate courses in Canada has its own set of advantages, one of which is the ability to get travel subsidies through the use of an international student identity card. Furthermore, the student-friendly environments of Canadian cities such as Montreal, Toronto, Vancouver, Edmonton, Ottawa, and Calgary make MBA study in Canada a rewarding experience. Apart from the vibrant culture, there are several more advantages to attending postgraduate courses in Canada:
Comprehensive MBA programs at Canadian business schools provide international students with diversified exposure to worldwide business as well as the opportunity to compete for prestigious scholarships.
In terms of both course tuition and living costs, studying MBA in Canada is regarded as very reasonable when compared to studying in the United States, or the United Kingdom, and even Australia. Canada has been the go-to destination for students hoping to be future business leaders because of its excellent educational value.
Canada is one of the top countries for international education, according to rankings and accreditations such as the Times Higher Education, QS Research, and Academic Rankings of World Universities. In these international rankings, the majority of the best MBA programs in Canada are placed relatively high.
MBA Eligibility in Canada
Because the colleges offering outstanding postgraduate business programs in Canada have strict admissions standards, candidates studying for an MBA in Canada must have certain specialized qualifications. Here are the precise eligibility criteria that students must achieve to apply to and get admitted into prestigious business schools in Canada:
A graduate degree is required of students who wish to pursue an MBA at any one of Canada's prestigious universities. This degree can be in any field, but it should come from a reputable university.
Language Proficiency in English:
For individuals interested in studying MBA in Canada, passing English language proficiency examinations such as the PTE, TOEFL, or IELTS is a must.
Although it is not a prerequisite, most Canadian colleges give candidates a prior job experience in a relevant professional field a higher priority.
Getting a Good GMAT Score:
Furthermore, some of Canada's best business schools need candidates to have a high GMAT score to be considered for admission.
Requirements for an MBA in Canada
In general, some documentation must be provided to the appropriate university in Canada. These criteria may differ from one person to the next. However, here we provide you with the following commonly requested documents:
‚óŹ Academic transcripts and certificates list
‚óŹ Proficiency exam scorecard
‚óŹ Statements of Accounts
‚óŹ Proof of work experience (if any)
‚óŹ Letter of Recommendation (LOR) (at least 2)
‚óŹ Statement of Purpose (SOP)
‚óŹ MBA Essays (if needed)
‚óŹ Updated CV/Resume
Structure of Fees for MBA in Canada
Students interested in pursuing an MBA in Canada should be aware of the fee structures of numerous well-known Canadian colleges. Most MBA programs in Canada cost between 32,000 and 90,000 USD, which translates to 24,00,000 and 65,00,000 INR for Indian students. However, there are some other Canadian universities where MBA course rates range from $5,000 to $13,000 (i.e., 3 to 10 Lakhs INR). Aside from these, the TOEFL, IELTS, Visa application, and health insurance fees, which can range from 160 to 250 USD, 185-190 USD, 178 USD, and 10,000 USD, respectively, must be paid first.
Programs for Scholarships
Due to the high fees charged by some of Canada's most prestigious business schools, students interested in pursuing an MBA in Canada are more likely to get academic grants. There are various scholarship programs available to help international students cope with this burden. These programs provide excellent students with the opportunity to pursue great professional opportunities in Canada. Scholarships for MBA programs in Canada range from $1,500 to $10,000, which corresponds to about 1 lakh to 7 lakhs INR for Indian students.
Salary and job prospects after an MBA in Canada
For the right candidate, there are many opportunities. MBA graduates earn some of the highest salaries in the world. They can work in a variety of fields after completing their MBA program, including:
‚óŹ IT services
‚óŹ Accounting & consultancy
‚óŹ Health industry
‚óŹ Oil and Gas
‚óŹ Legal jobs
MBA graduates can also work for several departments of the Canadian government, assisting in the efficient operation of the administration. Technical management, sales, marketing, product, and project management are all options for management graduates. The nicest part of getting an MBA in Canada is that overseas students who complete a full-time MBA program are eligible for a three-year work permit in the country. With Canada's varied corporate sector operating on a worldwide scale, such students have access to a variety of job opportunities, including:
Small and Medium Enterprises:
A big number of Small and Medium Enterprises (SMEs) in Canada are looking for qualified MBA graduates to assist them in managing their companies. This area offers a wide range of opportunities for both Indian and international students.
Consulting and Finance:
Financial services and consulting organizations are the most common employers of MBA graduates in Canada. There are many prominent organizations in Canada, which is why many students choose to pursue an MBA in Finance while studying there.
A sector of Technology:
Even the technology sector, which is one of the fastest-growing divisions of a worldwide company, is looking for MBA graduates in Canada to join their strategic decision-making teams. Due to visa flexibility and internship opportunities with reputable management businesses, half a million overseas students choose to study in Canadian colleges and universities each year. With all of this in mind, the job market in Canada is quite competitive. After all, the market is smaller than in the United States, so international students must do their best to boost their chances of landing a job in Canada. It is also suggested that you have work experience in Canada before applying for an MBA, to demonstrate to employers that you are familiar with the local market.
This article has been created in association with collegedunia.