In 2022 alone, Canada broke an immigration record by admitting over 550,000 new overseas students according to data released by Immigration, Refugees and Citizenship Canada. One of the most popular higher education courses that overseas students look out for is the MBA.
On average, the annual tuition fee for a Master’s in Business Administration in Canada is about CA $54,000. The number only increases as you choose the top-tier universities. So, scholarships for MBA in Canada become extremely important to international, especially Indian students.
What are the benefits of doing an MBA in Canada with a Scholarship?
While there are a number of benefits to doing an MBA in Canada, the advantages of doing an MBA with a scholarship is twofold.
Here are the benefits of a scholarships
Eases your financial burden of being a student abroad and makes studying MBA more affordable.
Scholarships and awards are a mark of academic excellence. Most scholarships are prestigious and boost your resume.
More on the benefits of doing an MBA in Canada:
Access to a world-class education at affordable rates. With the right scholarship, a tuition fee of CA $100,000 can even come down to CA $10,000 (Rotman School Entrance Scholarship). Your RoI increases exponentially with a scholarship to support your tuition.
Experience a simpler route to Permanent Residency. On completion of your MBA, you can apply for a post-graduate work permit and then eventually follow the PR track.
Be a part of an international business network, with an average salary of over CA $68,000 per annum. (Source: Glassdoor.co.in)
Live in a safe, multicultural environment.
What are the general eligibility requirements for an MBA scholarship in Canada?
Each scholarship comes with its own set of eligibility criteria that you must match in order to be eligible. It could be based on academic merit, extracurricular activities, leadership skills, and commitment to society or even belonging to a particular community. Scholarships are also awarded based on proficiency in a language, research impact, or with proof of financial need.
What are the best MBA scholarships in Canada?
The best MBA scholarships in Canada are:
Ontario Graduate Scholarship Program
Rotman School of Management Scholarship
Schulich School of Business Scholarships
Sauder School of Business Scholarships
Alberta MBA Scholarships
Haskayne MBA Scholarships
Ivey MBA Scholarships
1. Ontario Graduate Scholarship Program
Type
Government scholarship
Open to
Canadian and international students
Amount
CA $5,000 per academic session
Deadline
Set by each graduate school
Administered by the provincial government of Ontario (⅔ of the scholarship fund) and the participating universities (remaining ⅓), it is a merit based scholarship offered to both domestic and overseas students. The following are the participating MBA colleges in the OGS program.
Brock University
Carleton University
University of Guelph
Lakehead University
Laurentian University
McMaster University
Nipissing University
University of Ottawa
Queen’s University
Ryerson University (Toronto Metropolitan University)
University of Toronto
University of Waterloo
Western University
Wilfrid Laurier University
University of Windsor
York University
Eligibility criteria: Each of the participating universities set its own eligibility criteria for disbursing the OGS scholarships. However, these are some of the common criteria across universities.
Must be under a valid study visa
Must be enrolled in any of the universities in Ontario
Must be pursuing a two-year master’s course
If you have received the award for a different postgraduate program, you will not be eligible to apply again for your MBA.
Important points to note:
Some universities can open scholarships only to full-time MBA students.
The application deadline is also decided individually by each university.
If you are applying to different universities (as listed above) under the OGS programme, then you will have to submit separate applications for each of the MBA schools you are applying to.
The maximum duration of this award is 2 years.
2. Rotman School of Management MBA Scholarships
Source: Rotman School of Management
The Rotman School of Management is the B-school of the University of Toronto. Considered to be the best MBA programme in Canada by QS Rankings, the Rotman School of Management has a number of scholarship options to choose from. Here are some of the best financial aid options for overseas students.
2.1. Rotman Entrance Scholarships
Type
Non-government, Entrance
Open to
Canadian and foreign students
Amount
$10,000 to $90,000
Deadline
March, for September intake
As the name suggests, in order to motivate academically exceptional students, the Rotman School has entrance awards that you can be eligible for, at the beginning of the program. Approximately one-third of the students admitted to the programme become eligible for this scholarship.
Eligibility Criteria:
There is no separate application process for this scholarship. You will be automatically considered when your application is reviewed for the purpose of admission.
The following are the admission criteria to apply:
An undergraduate degree with a minimum GPA of 3.0 in the final year. The degree must be from a recognised English-language university.
GRE or GMAT 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
2.2 Joseph L Rotman Scholarship
Type
Non-government, Entrance
Open to
Canadian and foreign students
Amount
Full tuition fee (about CA $120,000)
Deadline
Latest by March, for September intake
This is the most prestigious scholarship awarded by the School of Management. Given annually to two exceptional students, it covers the entire cost of tuition. The scholarship is named after the school’s primary benefactor Joseph L Rotman, who passed away in 2015. It is also an entrance scholarship and all admitted applicants are considered for this award.
2.3 Forté Fellowship Program
Type
Non-government, Entrance
Open to
Canadian and international women students
Amount
~ CA $30,000
Deadline
Latest by March, for September intake
The Rotman School is a sponsor school of the Forté Foundation, an organisation working for the empowerment of women in business. As a woman applicant, if selected, you will automatically be considered for the Forté fellowship, as part of your MBA application.
3. Schulich School of Business Scholarships
Source: York University
Affiliated with York University, the Schulich School of Business is ranked 98th in the world for its MBA program. The school offers over 15 specialisations and is also renowned for having one of the world’s first courses in data analytics. Let us take a look at some of the best Schulich School of Business scholarships.
3.1 Robert Krembil Scholarship of Merit
Type
Non-government, Entrance
Open to
Canadian and international students
Amount
CA $40,000
Deadline
Latest by January, for September intake
Created by Schulich alumnus, Robert Krembil, this scholarship is to recognise the highest academic standing among the incoming batch of students. Two students are awarded this each year.
Eligibility criteria:
High academic standing at the previous place of education
Minimum two years of work experience
Must demonstrate excellent communication skills and leadership ability
Must be a student of the full-time MBA programme at either the Keele campus or the Miles S. Nadal Downtown Management Centre
If a recipient has maintained a GPA of 7.0 or above on the first 30 hours of credit work, the scholarship can be renewed for the second year.
3.2 Seymour and Tanna H Schulich MBA Entrance Scholarships
Type
Non-government, Entrance
Open to
Canadian and foreign students
Amount
CA $27,104
Deadline
Latest by January, for September intake
Seymour Schulich, one of the principal benefactors of the Schulich School of Business, has instituted this award in recognition of academic excellence and merit. Every year, six new entrants to the Schulich MBA programme are awarded.
Eligibility Criteria:
Academic excellence at the previous degree
Minimum two years of work experience
Must have demonstrated leadership qualities either in the workplace or through extracurricular activities
3.3 Mira & Bhabani Charan Pattanaik Award for Excellence in Finance
Type
Non-government, Continuing Student Award
Open to
Second-year MBA in Finance students
Amount
CA $10,000
Awarded in
Fall
To honour the academic achievement of a student pursuing a career in finance, one award is given out every year to a second-year student.
Eligibility Criteria:
Must be a second-year full-time MBA student specialising in Finance
Must have a combined minimum GPA of 6.0 (B+)
Must demonstrate financial need
4. Sauder School of Business MBA Scholarships
Source: UBC
A member of the Global Network for Advanced Management (GNAM), the Sauder School of Business is affiliated with the University of British Columbia. It is ranked 92nd in the world for its MBA program. Here are some of the best scholarships provided by the Sauder School.
Note: UBC Sauder applicants are automatically considered for the following scholarships upon submission of the MBA application. Here are the basic eligibility criteria to apply for a scholarship at UBC Sauder:
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
Statement of purpose and two letters of recommendation.
4.1 Regional top talent scholarship
Type
Non-government, Entrance
Open to
Domestic and overseas students
Amount
CA $10,000 – $60,000
Deadline
11 October of the previous year
Allocated for academically exceptional students, this is a Sauder School of Business entrance scholarship demarcated for the different regions of the world: Asia, South and Latin America, Europe, the Middle East and Africa, and Canada.
4.2 Hari and Madhu Varshney MBA Entrance Scholarship
Type
Non-government, Entrance scholarship
Open to
Preference to international students
Amount
Up to 50% of tuition fees
Deadline
14 March
Two students every year are recipients of these two awards. The selection committee looks for the exceptional aptitude and academic excellence to determine the recipients.
4.3 Dean’s International Scholarship
Type
Non-government, Entrance award
Open to
Canadian students, PR, and overseas students
Amount
CA $20,000 – CA $60,000
Deadline
14 March
It is a prestigious merit award open to all MBA applicants of UBC Sauder. In addition to academic excellence, business leadership, and community involvement are looked at for this award.
5. Alberta MBA Scholarships
Source: UAlberta
Ranked in the 110-120 range by QS World University Rankings for MBA courses, the Alberta School of Business is part of the University of Alberta. Known for its high employability rates of over 94%, the school also offers a number of financial aid options for its students.
4.1 Alberta Entrance Awards
Type
Non-government, Entrance award
Open to
Canadian students, PR and international students
Amount
Up to CA $15,000
Deadline
1 March for Fall intake
There is no separate application required for the entrance scholarship. All applicants will be automatically considered. The general application eligibility criteria are as follows:
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
4.2 Alberta Graduate Excellence Scholarship
Type
Non-government, primarily continuing student award
Open to
Canadian students, PR and foreign students
Amount
Up to CA $12,000
Deadline
1 March for Fall intake
8 students who are enrolled in either the remote/ in-person classes, demonstrating academic excellence will be eligible for this award.
Eligibility Criteria:
Grade point average of 3.3 or higher in the most recent 15 units of course weight in the MBA program
The student must be registered in the full-time programme.
A separate application must be submitted during the course to qualify for this grant.
6. Haskayne MBA Scholarships
Source: Haskayne School of Business
One of the top 250 schools in the world for an MBA degree, the Haskayne School of Business is affiliated with the University of Calgary in the province of Alberta. Offering both full-time and part-time MBA programs, the school offers merit-based scholarships to its students.
6.1 Academic Achievement Scholarships
Type
Non-government, Entrance award
Open to
Canadian students, PR and international students
Amount
$23,000 for the first year and $13,000 for the second year
Deadline
1 February
Awarded based on prior academic successes, this scholarship is awarded to students beginning their MBA programme at Haskayne. Bachelor’s degree scores and GMAT scores are taken into consideration for this MBA award. An applicant is automatically considered when applying for this program.
6.2 Haskayne Entrance Scholarships
Type
Non-government, Entrance award
Open to
Canadian students, PR and international students
Amount
CA $1,500 – $20,000
Deadline
1 February
Similar to the academic achievement award, you are automatically considered for the entrance scholarship as well. Your aptitude in the previous workplace, GPA of bachelor’s degree, and GMAT will be taken into consideration.
6.3 Continuing Student Awards
Type
Non-government, continuing scholarship
Open to
Canadian students, PR and international students
Amount
CA $600 to $15,000
Notified in
April
Students maintaining the standards of academic excellence during their course will automatically be eligible for continuing student awards.
7. Ivey MBA Scholarships
Source: Ivey Business School
A part of the Western University located in London, Canada, Ivey Business School is one of the top business schools in Canada. Ranked 2nd in Canada, the school offers intensive business administration courses. The Ivey scholarships are extremely sought after, especially by Indian students.
Type
Non-government, Entrance award
Open to
Canadian students, PR and international students
Amount
CA $10,000 – $65,000
Deadline
September for March intake
To be considered for the admissions award, an applicant must complete the scholarship section of their MBA application. There is no other separate consideration.
The application eligibility criteria include
A bachelor’s degree from a recognised university
GMAT or GRE score
Minimum two years of work experience
TOEFL or IELTS score
How to improve the odds of doing an MBA in Canada with a Scholarship?
While a scholarship can make your life as an international student much more enjoyable and less burdened, it is not always easy to get one. But, should you choose to follow our tips, your chances will increase manifold. Here are the things you can do.
Tip 1: Plan in advance
It is hard to win a scholarship with a last minute application. There are certain criteria that you cannot meet at the nth moment. For instance, academic excellence is a common criteria across most student financial aids. This is something that needs to be built from your bachelor’s course or maybe even sooner. The same is the case with work experience. As a prospective MBA candidate, you are already showing the university that you are capable of foresight and planning for the future.
Tip 2: Boost your extracurriculars
We live in a world where academics alone has become insufficient. Universities and other donors look for well-rounded individuals who already show initiative and leadership skills. Give yourself enough time to first learn these skills and then to demonstrate them. Any volunteering, commitment to community, your school or your previous work place are all key to your scholarship application. These are the things that help you stand out as an individual, more than your scores.
Tip 3: Research extensively
When looking for scholarship options, remember to deep dive into four key sources:
Destination country
Home country
University scholarships
External funding organisations
Maintain an organised directory of the ones you are eligible for, the additional criteria that you need to satisfy and the commitments required out of you on receiving the funding. Ensure you have looked into each sliver of opportunity that will benefit your life as an international student.
Tip 4: Keep your application materials handy
The last thing you want is a mad rush as the clock is ticking towards the deadline. Each scholarship application form has a different set of requirements. Start accumulating them in organised folders,ready for use.
Most scholarship applications will also require you to write a personal essay evaluating yourself as to why you are eligible. Give yourself time for multiple drafts and edits, not just by you but also by other, more experienced eyes. Proofread carefully before submitting, especially if you are recycling essays from other scholarship applications.
Tip 5: Apply well in time
Do not wait for the deadline to click the submit button. Most universities process applications as and when they receive them. It does you no favours to wait till the last moment.
Tip 6: Talk to an expert
Lastly, but most importantly, talk to an expert. The entire process of finding the right scholarship, preparing your portfolio, filling up the application and submitting it in time can get overwhelming. The easiest way to reduce your stress is to sign up with TC Global. Having served a student community of over 2.5 million, our Relationship Members have the knowledge and the experience to help you find the ideal scholarship.
Simply set up a visit Calendly.com/tcglobal to pick a Relationships Team closest to you and choose a slot to meet with a Relationship Member.
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