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MBA in Canada: Costs, Universities, and Scholarships
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MBA in Canada & What it Takes: Top Universities, Eligibility, Cost and Scholarships

MBA in Canada & What it Takes: Top Universities, Eligibility, Cost and Scholarships

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Canada is growing as a popular destination for management courses. Compare the top universities in Canada for an MBA. Get in touch with us for complete information.

GyanDhan
Yogender Panchal
Updated on:  06 Sep 2023  | Reviewed By:  Aman  | 5.83K | 14  min read

The question of 'why study an MBA in Canada' is oft asked. Because, globally, colleges in the US and UK rank higher. Focusing on the top four colleges in Canada for an MBA, we explore this topic in this article.

More Reasons as to Why MBA in Canada is an Outstanding Option

For a student thinking of taking an Education Loan for Abroad Studies, the financial factor matters a lot because it determines the burden on the pocket. The cost of an MBA in Canada is relatively lower than that of most management programs in US/UK. Additionally, unlike US/UK, you can easily apply for a work visa / Permanent Residence in Canada after completing the studies.
Some common Eligibility features to pursue MBA in Canada are:

  • list items English language tests: IELTS - 7.0 TOEFL- 100 iBT
  • list items IELTS - 7.0
  • list items TOEFL- 100 iBT
  • list items GMAT: range of 655 to 680.
  • list items Original and official transcripts of marks earned from previous institutions are to be sent directly to Canadian university after receiving and accepting an admission offer.
  • list items University Health Insurance Plan (UHIP) is mandatory for all International Students studying in a university in Ontario, it covers all health services’ cost. Students considering Rotman, Ivey, and Schulich will need it and for Desautels applicants, IHI is required.

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What are the Top 4 Universities for MBA in Canada?

Understanding that Canada makes for a superb place for higher education is part 1. Part 2 is knowing the best universities for MBA in the country. The finest MBA colleges according to QS are:

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1. Joseph L. Rotman School of Management

  • list items Location: Toronto, Ontario
  • list items College: University of Toronto
  • list items Duration of MBA: 18 months (full-time)
  • list items What’s the global MBA rank by QS: 43rd

Rotman ranks very high on the indicators of leadership, employability, and ROI. It has the biggest class sizes in the country with over 300 students in a batch. For admission, the school asks of a student:

  • list items A bachelor’s degree with a minimum average of B score in the final year (or equivalent).
  • list items An average GMAT Score of 672.
  • list items The college asks you to upload one to three pictures to write an essay that explains the “spike factor” of the student.
  • list items Reflection question which describes 3-5 characteristics of the student.
  • list items Two professional recommendations.
  • list items A video interview.
  • list items Two years of work experience as a full-time employee (not mandatory).

Costs Involved at Rotman:

  • list items Application process -195 CAD$.
  • list items A full-time academic fee - CAD $120,680 (both years).
  • list items The ancillary and incidental fee - CAD $650 and CAD $1,600
  • list items Quality of Life- around CAD $20,856 to $28,756 (Health insurance, conveyance, food, accommodation, etc.)

Financial Aid & Scholarships at Rotman:

  • list items The Chung Entrance Scholarship: 10,000 CAD (academic merit and financial need).
  • list items International Peace Scholarship Fund : $12,500 CAD ( aid to women and funded by the P.E.O).
  • list items  Median base salary: CAD $85,000 plus signing bonus : CAD$13,500.
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2. Desautels Faculty of Management    

  • list items Location: Montreal, Quebec
  • list items College: McGill University
  • list items Duration of MBA: 20 months (full-time)
  • list items Global MBA rank by QS: 60th 

Besides the usual elements, Desautels makes for a more than decent college for MBA in Canada because of its Base Camp. Every MBA student is required to attend the 2 weeks long comprehensive and intensive classes. These are preparatory lectures meant to bring the candidates up to the mark in the fundamentals of math, statistics and accounting for finance. When applying, the criteria to be fulfilled are:

  • list items A bachelor’s degree (or any higher education).
  • list items An average GMAT Score of 681.
  • list items An essay along with extracurricular activities.
  • list items Two years of work experience as a full-time employee is mandatory.
  • list items 2 letters of reference.

Costs Involved at Desautels:

  • list items Application process: CAD$ 105.80.
  • list items The total tuition fee (MBA): CAD$ 89,000. It includes the international trip that is part of the degree but doesn’t include ancillary charges.
  • list items The living expenses are: Accommodations (includes food): CAD $9,000 to $14,500 Public Transportation: CAD $996 Books: CAD $2,000 Personal Expenses: CAD $2,000
  • list items Accommodations (includes food): CAD $9,000 to $14,500
  • list items Public Transportation: CAD $996
  • list items Books: CAD $2,000
  • list items Personal Expenses: CAD $2,000

The International Health Insurance Plan or IHI is mandatory for each scholar and costs about CAD$1,095 for a single person.

Financial Aid & Scholarships at Desautels:

  • list items Adam Dinkes MBA Leadership Award: $10,000 CAD (for entrepreneurship).
  • list items MLV & Co MBA Leadership Award: $20,000 CAD (Academic merit and leadership skills.
  • list items Average base salary: CAD$ 85,000 , Signing bonus: CAD$10,000.
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3. Ivey Business School 

  • list items Location: London, Ontario
  • list items College: University of Western Ontario
  • list items Duration of MBA: 12 months (full-time)
  • list items What’s the global MBA ranking by QS: 60th (tied with Desautels)

Renowned for the eponymous case-study method and the CEL approach, MBA from Ivey teaches a person about the growth of the entire enterprise and not just one person.

Eligibility Requirements are:

  • list items Two essays and two video questions.
  • list items Two years of work experience as a full-time employee is mandatory.
  • list items References from two people.

The graph below gives an idea of the type of students that study at Ivey:

MBA in Canada

Costs Involved at Ivey:

  • list items Application fee of CAD$150.
  • list items The tuition fee for the whole program for an overseas student is near 111,750 CAD excluding the ancillary fee, charges for UHIP or the optional Preparatory Knowledge Program.
  • list items One year living expenses: around CAD$27,000.

Financial Aid & Scholarships at Ivey:

  • list items The institution automatically considers all exceptional international students for an admission award. The reward can range from CAD$10,000 to half of the tuition. 
  • list items Another scholarship it awards is Ivey Global Leader Award, Value: $50,000 CAD for students from Africa, Asia, Europe, South America, or the Caribbean.
  • list items Average salary: $103,000 CAD. 
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4. Schulich School of Business 

  • list items Location: Toronto, Ontario
  • list items College: York University
  • list items Duration of MBA: 16 to 20 months (full-time)
  • list items What’s the global MBA rank by QS: 76th 

One of the rare colleges to leap 7 QS Global MBA Rankings from 2018 to 2019, it offers a program that allows for 18 diverse specializations. It even caters to hands-on experience by allowing students to consult on real projects. 

Eligibility Requirements are:

  • list items An undergraduate degree with an average score of B (or an equivalent).
  • list items An average GMAT score of 670.
  • list items Two years of work experience as a full-time employee (mandatory).
  • list items Two letters of reference.
  • list items 2 written short essays followed by two video questions and then another written and timed essay.

Costs Involved at Schulich:

  • list items Application fee: CAD$150.
  • list items Tuition fee: Approximately CAD$101,900. The figure encompasses the ancillary and referenda fees that the college charges but not UHIP.
  • list items The living expenses for the complete four terms (one term = 4 months) would be: Books/Course Materials: CAD $3000 Rent (on campus): CAD $20,000 Rent (off campus): CAD $8000 - $19,200 Food: CAD  $6,000 Personal: CAD  $4,000
  • list items Books/Course Materials: CAD $3000
  • list items Rent (on campus): CAD $20,000
  • list items Rent (off campus): CAD $8000 - $19,200
  • list items Food: CAD  $6,000
  • list items Personal: CAD  $4,000

Financial Aid & Scholarships at Schulich:

To provide overseas students with financial support, Schulich automatically considers each applicant for entrance awards based on merit. One such scholarship is:

  • list items Robert Krembil Scholarship of Merit: Full domestic tuition + living subsidy of approximately $82,400 over two years (academic standing, two years of work experience, communication skills, leadership ability, and contribution within the community).
  • list items Average Salary: CAD $91,500.

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