Cost of Studying for MBA in Canada

    Updated on: 09 Nov 2022

     Cost of Studying for 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

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    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.  

    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 offered in Canada.

    Types of MBA to study in Canada

    1. Part-time MBA

    • The duration for it is 3-6 years. 
    • Most professionals who want to work and study simultaneously prefer a Part-time MBA. 
    1. 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. 
    1. Executive MBA

    • The duration of an EMBA is around 13-14 months. 
    • Designed for higher-level professionals who want to gain more business knowledge.  
    1. International MBA (IMBA)

    • The duration of an IMBA is usually 20-28 months.
    • Designed for international students to get holistic exposure to international fields.  

    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.

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    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.

    University/School Name 

    Cost of Studying

    Kellogg/York University: Schulich

    $112,250

    Cornell University: Johnson/Queen's University: Smith

    $74526.11

    University of Toronto: Rotman

    $133,740

    Queen's University: Smith

    $104,100

    Western University: Ivey

    $123,500

    York University

    $133,700

    HEC Montreal

    $59,000,38 until summer 2022
    $59 000 from fall 2022

    McMaster University

    $86,000-$92,000

    University of Victoria

    $40,824.64

    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:

    Category

    Cost (in CAD)

    Accommodation cost

    900-1200

    Food

    400-500

    Phone & Internet 

    200-300

    Entertainment

    60-200

    Miscellaneous 

    200-400

    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

    Category

    Cost (in CAD)

    one-way flight tickets

    1500

    Visa fees

    150-200

    University application fees

    150 (varies according to the university)

    Purchase of GIC (Guaranteed Investment Certificate)

    10,200

    Health insurance

    600-900


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

    Read Also:

    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. 

     

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    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.

    Know More About Scholarship

    Canadian Scholarship for Indian Student

    First published date:


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