Cost of Studying MBA in Canada

As we know, world economies are dynamic and keep on changing. It is crucial to have the right set of skills and qualifications for dealing with management situations. Here comes the role of an MBA; to expand the horizon of knowledge for accurate decisions. But to pursue MBA, it is important to have experienced faculties, a renowned institution, excellent infrastructure, and a good program.

In this blog, we will understand why MBA in Canada is in demand and the cost of studying for an MBA in Canada with various other points.

Reasons to pursue an MBA in Canada

Canada, the country of maple Leaf is one of the top preferred destinations by International students to study MBA. Scenic places, beautiful valleys, world-renowned institutions, and good quality of life are a few of the reasons that attract International students. Let's look at facts and figures from various institutions ranking sites.

• 
  According to Financial Times MBA Rankings 2022, around 5 universities in Canada are in the world’s top 100.
• 
  Based on QS MBA rankings (2022), almost 10 business schools & universities in Canada are ranked in the world’s top 100.
• 
  The business management program is one of the top programs preferred by students to study MBA.
• 
  Students get an additional opportunity to work post-study. 
• 
  The Canadian Government is student-friendly and welcomes MBA students to present their startup ideas.

Read more about: MBA in Canada: Top Universities, Eligibility, Cost and Scholarships

These are the top reasons for students that makes Canada an ideal country to study MBA. Now that we know the reasons, it's time to look at the types of MBA with their study costs in Canada.

Types of MBA to study in Canada

1. Part-time MBA:

• 
  Part-time MBA is similar to EMBA with a difference in the number of years of work experience required.
• 
  Students with a minimum of 2 years of work experience can apply for a part-time MBA.
• 
  The duration of the course is also longer compared to EMBA, generally being 3 years.
• 
  Both, Part-time and Executive MBAs let you retain your full-time job.

Average cost of Part-time MBA: CAD 30,000 - 40,000

2. Full-Time MBA:

• 
  The duration of a full-time MBA is 1-2 years. 
• 
  Students who want to understand the business industries and culture of Canada prefer to study Full-Time MBA. 
• 
  Students do not work professionally simultaneously with their studies.

Average cost of Full-Time MBA: CAD 60,000 - 100,000

3. Executive MBA (EMBA) or Professional MBA (PMBA):

• 
  Executive MBA is for professionals with an average of 16 years of work experience with an average of 10 years in a managerial role, mostly from a mid-to-senior manager role.
• 
  It is usually a one-year course that drastically accelerates your leadership skills and builds skills.
• 
  The curriculum is designed to suit the career goals of the professionals as is the class schedule.
• 
  Classes are mostly held on weekends (offline) and online during the week.
• 
  Admission may not require GMAT/GRE. However, it does require an interview, professional recommendations, and an essay. 

Average cost of Executive MBA: CAD 40,000 - 135,000

4. International MBA (IMBA):

• 
  International MBA is a specialized program with a curriculum that revolves around global challenges faced by companies, foreign markets, global economics, and cross-border relationships.

Average cost of International MBA: CAD 71,000 - 112,250

5. Dual-degree MBA

Also known as a Joint degree or Combined degree MBA, a dual degree allows students to combine a business degree with a different graduate program, for example, a Law degree or an MD. Some joint degree programs offered are:

• 
  MBA-Law 
• 
  MBA-MSc in Healthcare Quality 
• 
  MBA-Masters in Finance 
• 
  MBA-MD
• 
  MBA-MA 
• 
  MBA-Masters in Fine Arts 
• 
  MBA-Masters in Engineering

Average cost of Dual-degree MBA: CAD 230,201 - 476,970

6. Accelerated MBA

• 
  It is a cost-effective fully-packed course covered in less time and is as good as a 2-year program.
• 
  The quality of the course is not compromised, offering the same specializations as a typical MBA program.
• 
  Students with an undergraduate degree in Finance or Business Administration are admitted to the program.

Average cost of Accelerated MBA: CAD 79,000 - 84,000

So, we are now clear on the various types of MBA offered in Canada. Our research doesn't stop here! Let's get deeper to know all the details.

MBA Fees in Canada at the Top Universities

The cost of studying for an MBA in Canada varies from university to university. In general, it will cost you around $50,000 to $1,50,000 (institution cost only). When compared to countries like US and UK, the cost of studying MBA in Canada is more affordable. Also, there are various scholarships available for Indian students that we will discuss in the coming stages.

The below table contains information about top universities along with the cost of studying and top programs.

Cost of Living in Canada

A student living in Canada will have to bear expenses ranging from 19,000 to 22,000 CAD annually.The following is a breakdown of the same monthly:

Read more about: Cost of living in Canada 

Pre-Arrival Cost for MBA in Canada:

It is estimated the pre-arrival cost would be around CAD 13184 to CAD 2000. Let’s understand the breakdown:

The next part of the blog is a crucial segment as you will learn about the eligibility criteria

Eligibility Criteria to study MBA in Canada

The following are the most common MBA entry requirements, although each institution will have its own.

• 
  An undergraduate degree in any discipline from a recognized university. The majority of colleges ask for a four-year bachelor's degree, however, some may accept a three-year degree 
• 
  Experience in any related field of 3-5 years. Work experience of at least 12 months is preferred by institutions 
• 
  For Canadian universities, IELTS scores must be at least 6.5 
• 
  To be admitted to a good Canadian university, you need a GMAT score of 500-700 out of 800
• 
  Under special circumstances, a study gap is acceptable in Canada.

Scholarships

Often students search for scholarships to support their education expenses. Below are some of the scholarships that will help you out:

• 
  Ivey MBA scholarships
• 
  Ontario Graduate Scholarship (OGS) Program
• 
  Rotman School of Management Scholarships
• 
  Sauder School of Business Entrance Scholarship

These are a few scholarships that might help you to fund your tuition fees. Read more about: Scholarships for International Students in Canada

Read Also:

• 
  Top Universities in Canada
• 
  Top Universities In Canada For MBA
• 
  Cost of Studying in Canada
• 
  Education Loan for Studying in Canada
• 
  Part-Time Work Options in Canada
• 
  Canadian Universities’ Application Deadlines