MBA in Canada: Top Colleges for Indian Students in 2022

Canada is one of the best countries in the world to live in and, from a higher-education standpoint, it has a lot to offer. It’s not a surprise that this country tops the list when it comes to studying abroad.

In this article, we will be looking at

• Is an MBA in Canada worth it?
• How much does it cost?
• Is GMAT required for an MBA in Canada?
• How to apply for an MBA in Canada?
• What are the top MBA colleges in Canada?

With every passing year, we see more students opting for Canada to pursue their MBA degrees. What’s also great is that there are many avenues to explore for getting a scholarship to pursue an MBA in Canada.

Here’s a look at why this country is a preferred destination to study abroad.

• 1. Quality of Education
  Canada’s involvement and investment in the global ed-space has ensured that the country provides top-notch education to all of its students, whether domestic or international. The universities in Canada, particularly the B-Schools, are renowned for their global rankings and top-notch research facilities.The business schools are immersed within the frameworks of the industry, providing the practical knowledge and skills that you will need to make your mark in the real world outside. At the postgraduate level, while pursuing a course like a Master of Business Administration, learning and work cannot be separated.

  Most universities bring in pioneers from the industry to address the students of MBA programs so that they get a real-life perspective of the work ethos. It gives a great opportunity for the students to begin the process of professional networking.

  Because of their close interaction with the job market outside, Canadian B-schools also keep themselves up-to-date when it comes to MBA specializations. You can choose to specialize in Supply Chain Management, International Businesses, Human Relations, Finance, Data Analysis, and so on. The infrastructure provided by the Canadian B-schools is also remarkable.

• 2. Scope of Work
  After completing your MBA in Canada, you have the opportunity to build a stable career with a competitive salary. With high employment opportunities and with a growing economy, MBA graduates are often absorbed into the upper echelons of Finance, Consulting or even Tech industries.Top business organizations such as Morgan Stanley, McKinsey, EY, KPMG, Deloitte, Infosys, HCL Technologies, Microsoft, Apple Inc, Google, and Accenture hire MBA professionals regularly from Canadian universities. The average salary per annum ranges from CAD 60,000 to CAD 120,000.
• 3. Global Business Network
  In the last half a century or so, Canada has worked towards positioning itself as one of the leading players in the global economy. Lectures from multinational corporations are regularly arranged on campus.
  B-schools even partner with these organizations to provide internship opportunities as well. Besides, many more international brands and organizations, across industries are looking to establish a base in Canada. With all of these developments, Canada has become one of the hubs of business development and networking. And who is it at the center of it all? A graduate with an MBA degree.
• 4. Cost of Education and B-School Scholarships
  For an international student, the cost of education, especially a master’s degree, can be a huge deterrent. But, when compared to the typically popular destinations such as the UK, USA, or Australia, an MBA in Canada is significantly more affordable.Take a look at the next section to get a more detailed take on the cost of an MBA in Canada. In addition, most universities offer scholarships and grants for international students, making the tuition fees more bearable.
• 5. Immigration Policies
  When you are enrolled in an MBA program, you can engage in productive work and begin earning. You can get a work permit along with your student visa and work up to 20 hours a week, on or off campus, during the term.During holidays and term breaks, you can work up to 40 hours.After the completion of your MBA program, you can get a Post-graduation Work Permit that will allow you to work in Canada for up to three years. From there, you can switch to a permanent residency using a number of immigration programs.
• 6. Inclusivity and Diversity
  Known for its multicultural ethos, Canada offers a society that is known for its diversity and inclusive culture. It was the first country in the world to make multiculturalism an official policy in the year 1971. For an international student, life in Canada will be a true representation of what it means to be a global citizen.
• 7. Safety
  While Canadian politeness and manners have been the butt of numerous jokes on American TV, for most students, it is a major reason that tips the scale in favor of Canada. Canadian society has a far lower crime rate and is more tolerant and accepting than the UK or the USA.In 2021, Canada was ranked the 4th safest country in the world by U.S.News.This placed Canada 14 spots ahead of the UK and 34 spots ahead of the USA. Keeping these factors in mind, it is safe to say that an MBA in Canada is certainly worth it. A diverse environment, immense opportunities, high-paying job opportunities, a safe society, and a simple immigration process are all criteria that tip the scale in Canada’s favor. It makes Canada stand out among other global-ed destinations.

The actual cost of an MBA in Canada may vary depending on the school and the specialization. The average cost of getting an MBA in Canada, if you are enrolled in a full-time program is $30,000 – $40,000 (USD). This is only in terms of the tuition fees. You must keep in mind that certain specializations such as entrepreneurship or data sciences cost more than others. A part-time MBA or an executive MBA usually costs more than a full-time program since you will have the option of pursuing your career or other interests during the course of the program.

In addition to the tuition fee, you must keep in mind the cost of living. On average, you will be spending about 2,500 CAD per month for food, accommodation, travel, insurance, internet, and so on. That is 1,823.19 USD per month. This, of course, depends on your lifestyle choices. A shared apartment generally costs less than on-campus lodging. You can also consider staying with Canadian families that host international students for a nominal sum.

The other important expenditure that you need to plan for is health insurance. In certain provinces such as Quebec, British Columbia, Alberta, Newfoundland, and others, you will be covered under the province’s health care plan. In any other part of Canada, you must arrange for private health insurance. The reason why it is important is that it is mandatory to have health insurance during the course of your stay in Canada.

Coming back to tuition fees, here’s a graph representing the average cost of MBAs in the recommended universities.

The reason why financial planning is an important part of your global education journey is that when you apply for your student visa, you must submit a copy of your finances to prove to them that you can afford the expenses of living and the cost of studying in Canada.

It is absolutely normal to feel overwhelmed by these numbers. But let us remind you that the opportunities, the professional networking, and the quality of life in Canada are great returns on the investment that you will be making. Besides, if you are enrolled in a full-time MBA, you can choose to work while you study.

GMAT (Graduate Management Admission Test) is a computer-based standardized test that intends to assess analytical, writing, verbal, quantitative, and reasoning skills. It is used globally at the graduate level for admissions into a management program such as an MBA, Master of Finance, etc. Considering its global reach and acceptance, GMAT is considered to be a true reflection of an aspirant’s aptitude toward a business management program.

There was a time, especially for international students when applications for MBA programs were considered incomplete without the GMAT scores. And, while this is true for many universities in Canada even now (with GMAT scores being essential), there’s a slight shift – with universities becoming more test-optional, it is possible to apply for an MBA program without attempting the GMAT.

Having said that, let me make this very clear – a high GMAT score will give you a competitive edge as an international student. The average GMAT score to get into some of the recommended universities is about 600. For the kind of exposure, networking, and learning opportunities these universities offer, the GMAT is a baseline test to ensure you have the aptitude to take these ideas forward.

That said, there are some top universities that have made the GMAT optional. You will have to take up and submit the GRE scores instead. Schulich School of Business, Smith Business School, and Ivey all accept a GRE instead of a GMAT.

However, for individual applicants, the universities sometimes grant an examination waiver, provided the applicant shows exceptional qualifications, academic excellence, and solid work experience.

There are some schools such as the Thompson Rivers University, New York Institute of Technology, Vancouver, DeGroote Business School (McMaster University), and Vancouver Island University where you can pursue an MBA with a 4-year undergraduate degree and proof of English proficiency. Even then, the policy of McMaster University is such that you can get into the accelerated MBA without the entrance exams, but the scores have to be submitted to get into the regular MBA.

The bottom line: If you are serious about getting into the top universities in Canada to do your MBA, it is better you start preparing for the GMAT.

Most B-schools in Canada have similar requirements.

• 4 year Bachelor’s degree
• GMAT/ GRE score
• Relevant work experience
• Proof of English language proficiency such as IELTS or TOEFL
• Statement of Purpose/ Admission Essay
• Letters of recommendation (LOR)
• Proof of Affordability
• All essential documents to apply for the student visa.

That said, what you do need to focus on is a lot of research to choose the right university or the right specialization that will push your career ahead. Deadlines must be strictly adhered to, especially if you are applying for scholarships. All things considered, your process becomes a lot easier when you get on board with TC Global.

TC Global functions as a one-stop shop for all your global ed needs. Starting from counseling sessions to choosing the right course, all the way to immigration and investments for your life abroad, TCG stands with you every step of the way.

Besides, it is not like you are going to apply for only school and wait for the results. When you are applying for multiple places with different criteria, wouldn’t you like a single portal through which you can track the entire process of all the applications? That is what TC Global does for you.

Also Read: MBA in Healthcare Management: In-Depth Guide for 2022

Here is what the application process looks like when you go through TC Global.

Step 1: Choose the right course

With the number of options available and newer specializations being formulated every day, it is important to pick the right course and the right university that will suit your learning requirements.

Reach out to us through www.tcglobal.com to schedule an aptitude test or even a counseling session wherein you can speak to expert educators and representatives from the universities themselves to get a first-hand idea of what you want or don’t want.

Step 2: Log into the TC Global student portal

Once you have an idea, log in to the TC Global student portal.

Step 3: Update your profile

Update your profile once you have logged in, especially your previous education, work and study plans. This will help us to give you recommendations that are best suited to your needs.

Step 4: Read more on Insights

Check out our latest Insights, here. Latest developments in the industry, reviews, and information about top colleges and universities from across the world all get updated here.

Step 5: Read up and shortlist universities and courses

Our website gives you all the options in one place. Click on the university or the course of your choice and get an overview in one glance. All of this information is accessible to you, for free. All you need to do is sign up.

Step 6: Schedule a session and Apply

Once you have shortlisted the courses of your choosing, you can schedule a meeting with one of our Relationship Members. From this point onwards, one experienced member of our team is allotted to you. They will be your one-point contact for all your requirements from filling out the application, editing your SOP, and guiding you for your tests, all the way to your visa application. You can also monitor the progress of each application through our TC Global Student Portal. With our RMs by your side, your application for an MBA in Canada becomes organized and simple!

All that said, let us get into the specifics…

Source: Top Universities QS Ranking

Why study MBA at Rotman?

The B-School of the University of Toronto is called the Rotman School of Management. Considered to be one of the best MBA universities in the country, the Rotman School offers many types of MBA courses such as full-time MBA, morning and evening MBA, global Executive MBA for healthcare and the life sciences, Rotman-SDA Bocconi Global Executive MBA, and the one-year Executive MBA. About 50% of the class is made of international students, providing you with diversity and exposure.

Students at Rotman push the boundaries of inquiry and challenge themselves to face the problems of global society head-on. This is promoted by renowned faculty who are made up of research scholars and pioneers in the industry who often share real-world business experiences with the students. The network of Rotman alumni is also a great opportunity to build professional networks during the course of your study and after.

What are the career prospects after graduation?

More than 100 companies in Canada recruit from the Rotman School of Management. About 95% of the class of MBA graduates get recruited within 6 months of completion of the course. The average total salary per annum is about 110,000 CAD. The MBA graduates are usually absorbed into Financial Services or Consulting from top companies both in Canada and across the globe.

Eligibility

• An undergraduate degree with a minimum GPA of 3.0 in the final year. For students from India, you can use this portal to calculate your GPA. The degree must be from a recognised English-language university.
• GMAT or GRE scores must be submitted. For GMAT, the minimum requirement is 550. To be considered for distinguished awards and scholarships, a minimum score of 650+ is required.
• Minimum two years of work experience in a relevant field.
• English Language Proficiency Tests: Minimum TOEFL iBT score of 100 overall or an IELTS of 7.0
• Two written essays, one SOP and one based on the topic provided in the admission portal.
• Two LOR

Admission Process and Fees

Each candidate will be interviewed, after having submitted the application, before being offered admission to the program. These interviews are by invitation only. You are not guaranteed an interview just for submitting your application. You can even send your resume well in advance to the admissions team to get an informal pre-assessment from the university. The average fee for a full-time MBA is about $105,000 USD.

Scholarship Options

Numerous options exist for the students of MBA to apply for a scholarship. Some are done along with the application while some scholarships are meant for students who have begun their course at the Rotman School.

• Joseph L Rotman Scholarship
• Rotman Family Healthcare Scholarship
• Skoll/ MBA Entrance Awards
• 30% Club Full-Time MBA Scholarship
• Diversity and Inclusion Award
• Rotman Scholar Awards

Follow this link to get a more detailed account of the scholarships at Rotman.

Why study MBA at Smith?

Ranking 64th in the world in the list of top universities for MBA, the Smith School of Business is affiliated with Queen’s University in Kingston, Ontario. In Canada, the Smith School stands second among the top MBA colleges. One of the more renowned institutions, this B-School is rooted in the industry. The different MBA courses they offer — Full-time, Executive MBA, or Accelerated MBA for business graduates — are all dynamic, keeping in tune with the ever-changing needs of the industry. The options are numerous, providing an ideal learning setup for all kinds of learners from across the globe.

What are the career prospects after graduation?

Based on the batch that graduated in 2022, 96% of them accepted a job offer before graduation. The average total compensation was $135,856 per head, per annum. 36% of them found their professional calling in financial services while the others are in tech, healthcare, human resources, retail and governmental organizations.

Some of the top recruiters at the Smith School of Business are:

• Kearney
• PWC
• Deloitte
• McKinsey and Company
• Proctor and Gamble
• Coca Cola
• Walmart
• Scotia Bank
• Amazon
• Cisco
• IBM
• Google

Eligibility Criteria

• The school needs you to have completed a 4-year undergraduate degree from a recognised university. However, in certain exceptional cases, a three-year degree will also be considered. Indian students, or ant international students applying outside the borders of North America must submit a WES Credential Evaluation assessment of the degree to be considered for the full-time MBA program.
• Minimum two years of work experience
• The school predominantly prefers a minimum GMAT score of 600 or above.
• In special circumstances, a GRE score of 315 or above will be considered.
• TOEFL, IELTS, PTE or MELAB
• SOP
• 2 LOR

Admission Process and Fees

A full-time MBA in this school is a year-long course beginning in January. This school follows a rolling admission system wherein applications are considered as soon as they are received. So it is advised that you apply at the earliest. The average fee for an international student is $104,100.

Scholarship Options

Smith School of Business has general entrance scholarships awarded to nearly 50% of the students. In addition, they also have

• Dean’s MBA Admission Scholarships
• Stephen J.R. Smith MBA Scholarships
• Ian and Maureen Dawson MBA Scholarship
• Jim Leech MBA Scholarship
• MBA 1980 Class Scholarship
• MBA 1981 Entrance Scholarships
• MBA 1988 and MBA 1972 Scholarship
• Professor Norman MacIntosh MBA Entrance Scholarship

Follow this link for more details on scholarships.

Why study MBA at Ivey?

The Ivey Business School, affiliated with Western University, Ontario provides real-world, case-based business administration education. The School has five different programs at the postgraduate level, including a research-oriented doctoral programme, where you will be awarded a PhD. They also have a specialized course in Management in Analytics, which is significant in today’s data-driven world. The school stands third among all the B-Schools in Canada in 2022.

What are the career prospects after graduation?

97% of those who graduated out of Ivey in 2021 were placed within three months of graduation. The average base salary in 2021 was $107,850. Major companies such as Grant Thornton LLP, Volkswagen, Accenture, KPMG, Royal Bank of Canada, 3M, and many such companies hire MBA graduates from Ivey.

Eligibility

• A bachelor’s degree from a recognised university
• GMAT or GRE score
• Minimum two years of work experience
• TOEFL or IELTS score
• SOP
• LOR

Admission Process and Fees

Ivey also follows a rolling admission process, which means it is advantageous for you to send in your completed application at the earliest. Each year, the program begins in March. The average fee is about $87,000 – $88,000.

Scholarship Options

About 80% of the incoming students are eligible for an admission scholarship. This amount ranges from 10,000 – 65,000 CAD. You can also consider applying for the following external scholarships, if you fit the criteria.

• Lean In Canada Scholarship
• ROMBA fellowship
• Forté Fellowship
• Entrepreneurship Fellowship

Why study MBA at Desautels?

Affiliated to McGill University in Montreal, the Desautels Faculty of Management has been consistently ranked as one of the top business schools in the world. This school offers MBA as full-time, part-time, Executive and joint MBA-law programs. The two-year program with 54 credits (as opposed to the one-year program with 48 credits) also includes a summer internship. Desautels is also known for its “base camp”, a one-week workshop to ensure that all applicants begin at the same level.

What are the career prospects after graduation?

94% of the 2022 MBA graduates were placed within 3 months. A majority of them went into Consulting, finance, project management, and business development. Many international companies such as Amazon, AIG Japan, Christian Dior, Mercer, DHL, and Google hire graduates from Desautels.

Eligibility

• Undergraduate degree from a recognised university
• Minimum two years of work experience
• Compulsory GRE/ GMAT scores
• TOEFL iBT (minimum score of 100) or IELTS (minimum score of 7.0)
• 2 LOR
• SOP (in the form of three essay questions)

Admission Process and Fees

After a preliminary review of the application, strong candidates will be invited for an interview. This interview is by invitation only. The average tuition fee is $73,000 USD.

Scholarship Options

McGill University has numerous scholarship options for deserving candidates. They are all merit-based and students are automatically considered based on their application and/or performance. Check out the entire list of MBA scholarships here.

Why study MBA at Schulich?

One of the most innovative programs, the Schulich school of business has a full-time MBA program that spans 20 months. The school also has 17 different specializations for you to choose from. It is also one of the first B-schools in the world to design a program for business analytics.

What are the career prospects after graduation?

The college website lists 100s of companies that recruit regularly at Schulich. Financial services, consulting, and healthcare seems to be the primary industries absorbing MBA graduates from Schulich.

Eligibility

• A 4-year undergraduate degree from a recognised university
• If a candidate has completed a three-year degree, they may be considered for admission if they have one more year of work experience, in addition to the required minimum
• GMAT or GRE score
• Minimum two years of relevant full-time work experience
• IELTS (7.0 minimum) or TOEFL iBT (100 minimum)

Admission Process and Fees

The admission process involves scrutiny of the application followed by an interview. The average fee is about $80,000 for tuition.

Scholarship Options

The Schulich School of Business has one of the most generous scholarship options in Canada. They offer two kinds of scholarships: Entrance Scholarships and Continuing Student Awards.

Why study MBA at Sauder?

With multiple specializations available, the Sauder school of business is one of the go-to places to gain an MBA degree in Canada. The school is known for its mandatory 2-week Global Immersion Experience. It is where full-time MBA students spend time abroad. This makes the program unique in the world of business and management. The Sauder School of Business is also part of an elite partnership known as the Global Network for Advanced Management (GNAM) that the Yale School of Management heads. Sauder is the only Canadian institution to participate in this network.

What are the career prospects after graduation?

Sauder MBA graduates have begun their careers as lead economists, banking advisors, and financial and risk analysts in some of the top-tier organizations. Organizations such as Lululemon, Microsoft, and Deloitte often hire from Sauder.

Eligibility

• A bachelor’s degree from a recognised university with a B+ average
• 650+ on GMAT or 320+ on GRE
• 100 or more on TOEFL iBT, 7.0 or more on IELTS, 70 or more on PTE
• Two years of full-time work experience gained after the completion of the bachelor’s degree
• SOP
• LOR

Admission Process and Fees

A full-time MBA program typically begins in the last week of August. The selected applications will be called for an interview. The average fee is $65,000.

Scholarship Options

Here are some of the scholarships offered by the Sauder School of Business.

• Regional Top Talent Scholarships
• Women in Business Leadership
• Responsible Business Scholarship
• Hari Varshney MBA Entrance Scholarship
• Madhu Varshney MBA Entrance Scholarship
• International Talent Scholarships

Why study MBA in Alberta?

The University of Alberta is one of Canada’s public universities, with which the Alberta School of Business is affiliated to. The school offers several kinds of MBA programs including a full-time MBA, part-time MBA, online MBA, Fast Track MBA, and Executive MBA. The MBA programs here allow students to customize their programs based on their career requirements such as energy, entrepreneurship, healthcare, and so on.

What are the career prospects after graduation?

94% of the graduates from the University of Alberta’s MBA program get employed within 3 months. Top employers from different industries hire MBA candidates from the Alberta Business School.

Eligibility

• Undergraduate degree with a minimum score of 60%
• Minimum two-year work experience
• GMAT score of 550 or above or a GRE score at the 50th percentile
• TOEFL iBT of 100 or above, IELTS of 7.0 or above
• SOP
• 2 LOR

Admission Process and Fees

After scrutiny, selected candidates will be called for two rounds of interviews. The average fee for a full-time MBA is around $50,000 USD. Executive / part-time MBAs are more expensive.

Scholarship Options

If you are pursuing an MBA at the U of Alberta, you have a chance at both entrance awards and other MBA Scholarships. Any applicant will be automatically considered for the entrance awards. The university has 50 other scholarships that you can apply for. They are all based on merit and must be carefully applied for, before their respective deadlines.

Why study MBA at John Molson?

One of the first business schools to be accredited by the AACSB in Montreal, the John Molson School of Business is affiliated with Concordia University. In the year 2020, John Molson was rated number 1 by QS rankings for return on investment. Their Executive MBA was ranked 2nd in Canada and 64th in the whole world by The Economist.

What are the career prospects after graduation?

As with the other universities, the majority of the MBA graduates from John Molson have been absorbed into financial services, manufacturing, or technology. Huge multinational corporations such as BNP Paribas, Ernst and Young, Microsoft, Roland Berger, and others recruit MBA graduates from here.

Eligibility

• Minimum two years of full-time post-bachelor’s work experience
• Undergraduate degree in any discipline with a CGPA of 3.0 out of 4.3
• A GMAT score of 580 or higher
• TOEFL iBT 95 overall with no band below 20 or IELTS with 7.0 overall with no band below 6.5
• SOP
• 3 LOR
• Passport

Admission Process and Fees

After submitting your application, you will receive a link from the university with instructions to complete a video interview. The average fee for a full-time MBA is about $35,000 USD.

Scholarship Options

All candidates who are enrolled in either the full-time or part-time MBA program will automatically be considered for the entrance scholarships. There is no separate paperwork or application for these scholarships. In addition, Concordia University has an entire list of Awards for the Graduate Students that you can consider working towards.

Why study MBA at Rowe?

Accredited by the AACSB, Rowe School of Business emphasizes experiential learning and collaboration with industry partners. Their blended/ online MBA in Financial Services and Leadership is designed to create the next generation of leaders. The university provides a diverse global perspective, currently focussing its research on how to make sustainability profitable.

What are the career prospects after graduation?

Be it the Corporate Residency MBA or the Financial Services program, the Dal MBA is designed to fast-track your career. Graduates have been hired as project managers, business analysts, or directly into the upper echelons of management in industries ranging from fashion, and food all the way to the government and healthcare.

Eligibility

For the Corporate Residency MBA, work experience is not required. However, for the blended financial services program, a minimum work experience of 3 years is preferred.

GMAT scores, IELTS/ TOEFL scores along with SOP and LOR are also required.

Admission Process and Fees

The blended MBA is a mix of online study followed by a few weeks of intensive on-campus work. Since it is part-time, you will not be eligible for a student visa. The average fee is around $59,000 USD.

Scholarship Options

Dalhousie University has both entrance and in-course scholarships that you can apply for to reduce the financial burden of the course.

Why study MBA at HEC?

Known for its internationally acclaimed management education, HEC Montreal offers a full-time and an Executive MBA. The full-time MBA is a 54-credit course, covering the latest management tools and practices. They also have an MBA+ program wherein you can also acquire or improve your French skills in order to find employment in Montreal.

What are the career prospects after graduation?

This MBA college has a 90.4% average placement rate. Top recruiters include Deloitte, L’Oreal, KPMG, Morgan Stanley and others.

Eligibility

• Must have an undergraduate degree
• Must have 3 years of professional experience, not including internships
• Minimum GMAT score of 630, or the GRE equivalent, or a minimum TAGE MAGE score of 300
• Proof of English Language proficiency
• SOP
• 2 LOR
• 4 video essays, for which the link will be sent to you after you submit the application.

Admission Process and Fees

Once the complete application is received by the university, it will be processed. You will receive an email notifying you that a letter has been uploaded to your HEC en ligne account, no later than four weeks after the admission deadline. The average MBA fee is around $43,000 USD.

Scholarship Options

HEC Montreal offers performance, need-based and International Scholarships.

Now that you have all the information, what are you waiting for? Sign up with the TC Global student portal and get your MBA journey on the road.

Let us shape your future together.

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