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
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
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.
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.
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 $22,000 – $44,000 (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 650. 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.
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.
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.
Once you have an idea, log in to the TC Global student portal.
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.
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.
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.
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…
| Name | Location | Duration (Full-time MBA) | Fees |
| Rotman School of Management | Toronto, Ontario | 2 years | $104,639 |
| Smith School of Business | Kingston, Ontario | Full-time: 12 months, | $104,100 |
| Ivey Business School | London, Ontario | 12 months | $87,857 |
| Desautels Faculty of Management | Montreal, Quebec | 12 – 20 months including an internship | $72,546 |
| Schulich School of Business | York, Ontario | 20 months | $81,843 |
| Lazaridis School of Business and Economics | Waterloo, Ontario | 20 months | $35,800 |
| Asper School of Business | Winnipeg, Manitoba | 2 years | $32,300 |
| Goodman School of Business | St. Catharines, Ontario | 20 months | $44,800 |
| Odette School of Business | Windsor, Ontario | 16 months | $26,300 |
| Edwards School of Business | Saskatoon, Saskatchewan | 12 months | $34,400 |
Source: Top Universities QS Ranking
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.
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.
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.
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.
Follow this link to get a more detailed account of the scholarships at Rotman.
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.
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:
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.
Smith School of Business has general entrance scholarships awarded to nearly 50% of the students. In addition, they also have
Follow this link for more details on scholarships.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
The admission process involves scrutiny of the application followed by an interview. The average fee is about $80,000 for tuition.
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.
Source: Wilfrid Laurier University
The business school of Wilfrid Laurier University is called the Lazaridis School of Business and Economics. It has built a strong reputation, especially in finance, entrepreneurship, and connections to the Waterloo–Toronto tech corridor. The program is AACSB accredited and offers full-time, part-time, co-op, and Toronto-based MBA options. The Lazaridis MBA is known for its case-based learning approach and collaborative culture. Students benefit from small class sizes and access to Canada’s thriving startup ecosystem in Kitchener-Waterloo, home to Google, Shopify, and many startups.
Graduates are recruited into finance, consulting, technology, and supply chain sectors. Many find opportunities in Toronto, Waterloo, and across Ontario. Employment rates are strong within 6 months of graduation, with alumni networks spread across Canada’s major business hubs.
Applications include transcripts, GMAT/GRE scores, résumé, essays, and references. Interviews are by invitation.
💰 Tuition Fee (full-time international): CAD 49,000 (~USD 36,000).
Entrance scholarships, graduate assistantships, and Lazaridis-specific awards are available.
Source: University of Manitoba
The Asper School of Business at the University of Manitoba is one of Canada’s oldest business schools, also AACSB accredited. Its MBA emphasizes leadership, sustainability, and international business. Located in Winnipeg, it offers smaller class sizes and personalized attention. The program provides full-time, part-time, and accelerated study options.
Graduates enter fields such as finance, agribusiness, consulting, and healthcare management, with strong placement across Manitoba and Western Canada. The school maintains connections with leading employers in Winnipeg and beyond.
Applications include transcripts, scores, CV, SOP, and LORs. Interviews are required.
Tuition Fee (full-time international): CAD 44,216 (~USD 32,300).
Entrance awards, international student scholarships, and Asper-specific graduate fellowships.
The Goodman School of Business at Brock University is AACSB accredited and located in St. Catharines, Ontario, near Toronto and Niagara Falls. The program is well-known for its co-op MBA option, which allows students to gain valuable Canadian work experience. Goodman also offers a combined CPA/MBA pathway, making it popular with accounting and finance students.
Graduates often secure jobs in accounting, consulting, and finance. With the co-op program, international students gain an advantage in Canadian job markets. Networking is supported through the Goodman Alumni Association.
Includes transcripts, GMAT/GRE, résumé, SOP, references, and an interview.
Tuition Fee (full-time international): CAD 61,420 (~USD 44,800).
Graduate scholarships, international excellence awards, and Goodman-specific bursaries.
Source: University of Windsor
The Odette School of Business at the University of Windsor offers a distinctive Integrated MBA that blends classroom study with real-world projects. Its location on the Canada–U.S. border (across from Detroit) provides unique opportunities for cross-border business learning and internships. Odette is AACSB accredited and offers both traditional and accelerated MBA formats.
Graduates benefit from Windsor’s automotive and manufacturing hub, as well as proximity to Detroit’s financial and tech markets. Many secure jobs in supply chain, consulting, and finance.
Applications include transcripts, GMAT/GRE, résumé, essays, and an interview.
Tuition Fee (full-time international): CAD 36,000 (~USD 26,300).
Entrance scholarships, graduate assistantships, and merit-based international awards.
Source: University of Saskatchewan
The Edwards School of Business at the University of Saskatchewan offers a 12-month intensive MBA program, making it one of the fastest MBA pathways in Canada. Located in Saskatoon, it emphasizes leadership, strategic management, and practical business skills. Its smaller cohort sizes provide close interaction with faculty and peers.
Graduates typically find opportunities across Western Canada, especially in energy, finance, and consulting. The strong alumni network in Saskatchewan provides career support.
Applications include academic transcripts, test scores, CV, essays, references, and an interview.
Tuition Fee (full-time international): CAD 47,157 (~USD 34,400).
Graduate scholarships, fellowships, and awards from the Edwards School of Business.
Now that you have all the information, what are you waiting for? Sign up with the The Chopras – TC Global student portal and get your MBA journey on the road.
Let us shape your future together.
You May Also Like:
![Best Universities in New Zealand for International Students [2025 Rankings]](https://tcglobal.com/wp-content/uploads/2025/09/Best-Universities-in-New-Zealand-for-International-Students-2025-Rankings-600x338.png)
Choose Insight topics that you are interested in to subscribe for your personalized newsletter.
