Best MBA Scholarships in Canada for Better Career Opportunities (2022)

There is no doubt that an MBA program is one of the most sought-after programs at the post-graduate level. It is an amalgamation of graduates and professionals from across disciplines and industries trying to make themselves future-ready. MBA students begin building a strong professional network during the course of their higher education. In addition to principles of business administration and leadership skills, an MBA degree from a reputed international university gives you all the impetus you need to adapt to the changing needs of an organisation.

In this article, we will be looking at

Why Study MBA in Canada?

First, Canada has a distinct business environment with a strong and independent economy, especially when compared to the U.S.A. As a global player, an MBA from Canada will give you an international perspective. Moreover, in the global ed-scape, for an international student, studying in Canada is more affordable than studying in the U.S.A, Australia or the U.K. The immigration process and the work permit regulations are far more accessible and equitable. Finally, the political stability, access to healthcare, diverse cultures and infrastructure makes the Canadian ed-scape extremely inviting.

Can I get a full scholarship for MBA in Canada?

There are no free universities in Canada. However, especially at the higher education post-graduate or doctorate level, getting a partially or fully supporting scholarship is almost a given. These are open to international students as well.

What do I need to do, you ask? It begins with the application process. Universities offer entrance scholarships where you file your scholarship application along with/ or soon after your admission papers. The criteria, especially for MBA colleges boil down to academic excellence. And it begins with having a great GMAT score. Even after enrolling, each university has a different GPA cut-off that you will need to maintain so as to remain eligible for the scholarships.

And remember, in this article, we are mainly talking about scholarships handed out by universities. You also have scholarships given out by the government of Canada and by private trusts and organisations that you can always consider applying to.

MBA Scholarships in Canada

In this section, we will be looking at some of the top MBA scholarships available for international students in Canada.

Rotman School of Management Scholarships

About the School and the MBA program: The Rotman School of Management is one of the finest MBA programs in Canada. Affiliated with the University of Toronto, this college emphasizes creating values, driving innovation, and Building healthy, equitable and sustainable organisations and societies. Located in Canada’s commercial and cultural capital, you will also get to experience life in one of the best cities in the world.

The Rotman School of Management has nine different business programs that you can choose from, depending on where you are in your career. The school has allocated over $6 million for financial aid for Rotman applicants.

Eligibility criteria: Here are three of their most popular scholarships.

  • For – The Forté Foundation scholarship: Exceptional leadership skills, a dedication to the community and academic excellence
  • For – The Rotman Entrance Scholarship: This one is considered for all students admitted to Rotman. The criteria include proficiency in English, TOEFL/ IELTS scores, performance in GMAT, and the scholarship interview.
  • For – MGA/ MBA Award: Given to the top student in the MBA program

Scholarship amount: Ranges from 10,000 CAD to 40,000 CAD

After MBA career prospects: You will find a wide range of career opportunities after graduating from Rotman. 94% of their graduates in 2019 and 2020 were able to secure employment within 6 months. High-level analytical skills are in high demand in a wide spectrum of managerial disciplines, including strategic consulting, finance, health care, life sciences, government, retail, marketing, web analytics, telecommunications and banking.

Schulich School of Business Scholarships

About the School and the MBA program: The Schulich School of business is affiliated with York University and is a space for excellent learning and research. The school has always been on the list of the top 25 business schools in the world.

One of the most innovative business programs, the Schulich school offers over 17 different courses for you to choose from. Schulich is also one of the first business schools to design a degree for Business Analytics. The school also allows you to transition seamlessly between part-time and full-time programs to accommodate your professional requirements.

Schulich has one of the most generous of MBA Scholarships in Canada. They offer two kinds of scholarships: Entrance Scholarships and Continuing Student Awards.

Eligibility criteria: Academic Achievement is the primary criterion for both of these. For entrance awards, an applicant’s GRE/ GMAT scores, along with his/ her IELTS/ TOEFL performances are taken into consideration. For the Continuing Student Awards, your academic excellence and contribution to the course will be considered.

Scholarship amount: Entrance scholarships range from 20,000 CAD to 33,000 CAD. Continuing Awards are anywhere between 2,500 CAD to 5,000 CAD.

After MBA career prospects: Managerial roles in Banking, Fin-tech, Operations, Financial Services, and increased employment in tech startups are growing rapidly in Toronto. Over 60% of their graduates find employment in Canada while the remaining are recruited globally.

Alberta MBA Scholarships

About the School and the MBA program:
One of the leading schools of business education and research in Canada, it offers Master’s programs including a Master’s in Business Administration, Master’s of Accounting, and a Master’s of Financial Management. The University of Alberta is one of the top 5 universities in Canada.

Eligibility criteria:

  • GPA of 3.5 or above/ admission GPA of 3.7
  • A complete application form (based on the scholarship) and a nomination from the department.
  • Available Departments or Programs: MBA and allied courses

Scholarship amount: Ranges from CAD 8,000 to CAD 27,000 per annum.

After MBA career prospects: You can personalise your program to suit your career tracks. Energy finance, Healthcare Administration, Operations, and Business Research are some of the most sought-after industries after completing a business program in Alberta.

Ivey MBA Scholarships

About the School and the MBA program: 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 graduate level, including a research-oriented doctoral programme, where you will be awarded a Ph.D. They also have a specialised course in Management in Analytics, which is significant in today’s data-driven world.

Ivey MBA scholarships are some of the most sought-after and competitive ones in the country. Professional work experience is one of the selection criteria. It is a given that you can experience and learn a lot more in this program when you enroll in one after at least a year of work. That way, you have a sense of the business/ organisation that you will learn to administer and manage.

Eligibility criteria: It is a purely merit-based scholarship. The selection criteria include excellent professional experience, academic achievement, leadership abilities, high GPA, and GMAT ratings.

Scholarship amount: Ranges from 10,000 CAD to half of your tuition fee.

After MBA career prospects: In 2021, 97% of those seeking employment had received at least one job offer within three months of graduation. Of these, about 30% went into Consulting, 29% to Financial Services, about 12% into Technology and the remaining into Consumer Packaged Goods, Food Services/Restaurant industries, Construction and Manufacturing, Telecommunications and Energy and Resources.

Haskayne Entrance Scholarships

About the School and the MBA program: Established in 1966, the University of Calgary boasts about 30,000 Bachelor’s students. Ranking 264 globally, this university has a research-oriented approach, pushing the boundaries of knowledge to the edge. The Haskayne School of Business is associated with the University of Calgary. They offer programs such as Master of Management, Master of Business Administration, Executive MBA, Doctor of Business Administration, Ph.D. in Management, and other certificate and Diploma courses.

The Haskayne MBA scholarships are administered with the aim of providing financial aid for high-achieving students from across the globe.
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Eligibility criteria: All international students admitted to Haskayne with a study visa are eligible to apply. They must be full-time students. The evaluation criteria include GPA (academic excellence) and GMAT rankings.

Scholarship amount: Ranges from 3,000 CAD to 17,000 CAD during the academic year.

After MBA career prospects: As an internationally recognised business school, the opportunities are endless. After graduating from the Haskayne School of Business, you can consider roles such as Marketing Analyst, Marketing Manager, Manager-Sales and Marketing, Marketing Coordinator, Human Resources Director, Business Development Officer, and so on.

Ontario Graduate Scholarship Program

About the School and the MBA program: Unlike the other scholarships that are administered by the universities, the Ontario Graduate Scholarship program is a governmental fellowship instituted in the province. So, applicants enrolled in Western University, University of Ottawa, Carleton University, York University, University of Toronto, and a few others can apply for the OGS fellowship.

The goal is to encourage academic excellence and motivate the top graduate students in Canadian universities with financial aid.

Eligibility criteria:

  • Must be under a valid study visa
  • Must be enrolled in any of the universities in Ontario
  • Must be pursuing a two-year course (four-year for a doctoral program)
  • Must maintain a minimum of A- in academics.

Scholarship amount: typically 5,000 CAD per session

After MBA career prospects: Include a range of possibilities across industries. For, irrespective of the industry, a business needs to be managed. A candidate can choose to specialise in the financial and accounting side of things or risk assessment, marketing, HR, technology, and so on. They can also specialise bases in the industry they are already a part of. With Canada exploding as a global business hub, these fellowships are a way to invite international students who will continue to contribute to the nation’s economy. The political climate, its presence in the global economy, work permits, and ease of immigration all mean that the prospects are endless.

Sauder School of Business Scholarship

About the School and the MBA program: The Sauder School of Business is part of the University of British Columbia. Promoting business ethics and sustainability goals, the Sauder School of Business is a renowned school for business studies, located in Vancouver.

The Sauder School has seven different business programs at the Graduate level. It also has dual degrees where a candidate can apply for integrated undergraduate and postgraduate programs or for two postgraduate programs simultaneously.

This school offers its own international scholarships for students. About 40% of every class is awarded an entrance scholarship. They also have scholarships separately for women in business leadership, people of colour, and so forth.
[picture of school]

Eligibility criteria:

  • Merit-based selection
  • Display of leadership and entrepreneurial skills
  • previous professional experience
  • academic excellence

Scholarship amount: The entrance scholarships range from 10,000 CAD to 40,000 CAD.

After MBA career prospects: Business graduates who have graduated from the Sauder School have gone ahead to change careers entirely or enhance their careers by going up the ladder. Investment Analysts, Business Development Directors, COOs, and Financial Analysts are some of the portfolios for you to consider after your MBA from Sauder.

MBA Scholarships in Canada for Indian Students

Canada is well on its way to becoming one of the business powerhouses in the world. Keeping in mind the political climate in the USA and the UK, it is quite natural that more Indian students looking for international education are turning to Canada.

Canada’s commitment to ethical business practices and sustainable development models is another reason why Canada is becoming a haven for those wanting to receive a global education in business administration.

MBA degrees in Canada are rooted in real-world case studies and practical pedagogies which makes learning and application extremely effective. Internships are a significant part of these courses. The diversity in Canadian universities also means excellent networking opportunities.

Canadian business schools also give you the flexibility to choose between full-time, part-time, and executive programs depending on your professional requirements. All things considered, Canada has become the foremost destination, especially for Indian students looking to pursue this degree abroad. Moreover, their programs are more affordable than their southern counterpart and they are internationally recognised. The multitude of options available as scholarships, fellowships and student awards reduce the financial burden of international education, making Canada more inviting.

Here are some of the most popular MBA programs for Indian Students:

While you can certainly consider all the options listed earlier, here are someone schools with great business programs for Indian students.

McGill university

A brief overview of the school: A public university founded in 1821, McGill is one of Canada’s most reputed universities for higher education. International students at McGill make up over 30% of their student body. Over 145 McGill students have won the Rhodes scholarship.

The Desautels Faculty of Management at McGill University is one of the top business schools in the world. With multiple programs at the Diploma, Bachelor’s, Master’s, and Doctoral levels, along with specialised courses for professions, this school is a nun for business learning and research.

The university has a fully-funded merit scholarship program for international students. At the graduate level, the funding opportunities are based on merit and require you to compete with others. You can apply for funding along with your application or later after having enrolled at the university.

Eligibility criteria: Merit (GPA, GMAT, and IELTS/ TOEFL scores), leadership qualities, and innovation. A two-year work experience is also required.

Scholarship amount: The Desautels Faculty of Management has allocated about $2 million in scholarships per annum, split over 30 different awards that international students can apply to.

Why is it good for Indian students? Besides the obvious reasons of international recognition and exposure, McGill has an extremely diverse environment that is welcoming to students from other cultures. One of the scholarships, the Sandhya and Swati Sharma MBA Leadership Award, has been instituted by a person of Indian origin.

Sauder School of Business

A brief overview of the school: While we have talked about the school earlier, there is a reason why it is featured again in this list. Keep reading.

Eligibility criteria:

  • Merit-based selection
  • Display of leadership and entrepreneurial skills
  • previous professional experience
  • academic excellence

Scholarship amount: Ranges from $5,000 – $10,000

Why is it good for Indian students? In addition to academic excellence, The Sauder School of business has a dedicated scholarship meant for academically excellent candidates applying from Asian countries.

The Smith School of Business

A brief overview of the school: Affiliated with Queen’s University, the Smith School of Business stands in the top 10 schools as ranked by Times Higher Education. Leading the charge in innovation, this school has come up with a new Master’s degree in Digital Product Innovation, to keep up with the times. This is an option, along with the traditional MBA programs.

The school also offers scholarships to academically excellent candidates at the time of admission.

Eligibility criteria: Merit based on academic achievements. A candidate need not apply separately for the scholarship. They will be automatically considered based on the documents submitted at the time of application.

Scholarship amount: Ranges from $10,000 – $70,000

Why is it good for Indian students? The learning model is built around teamwork and practical learning. Besides, the scholarship opportunities are endless and the value of scholarships offered is quite high when compared to other schools. The school also values work-life balance and emphasizes learning more than competition.

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