Explore Courses

Best Universities in Canada for MBA – Fees, Eligibility, & Scholarships

Updated on 09 November, 2023

Anupriya Mukherjee

Anupriya Mukherjee

Sr. Content Writer

Aspiring to become a business leader with a top-notch MBA program in Canada? Let's delve into the 10 best MBA colleges in Canada based on the QS MBA University Ranking of 2023. These institutions have established themselves as titans of business education in Canada. An MBA degree from one of these institutes can accelerate your career pathway. In this article, you will discover these universities' unparalleled reputations, distinguished faculties, and rigorous curricula that will equip you with the knowledge and skills necessary to excel in the competitive business world.  

Seeking to study in Canada – Apply Now

Best MBA Universities in Canada 2023

Here are the top MBA universities that you should check out in Canada, as per the QS Global MBA Rankings 2023:

#1 Rotman School of Management – University of Toronto

Ranked among the top universities in Canada, the University of Toronto is located in the heart of downtown Toronto. The Rotman School campus is conveniently situated in close proximity to the nation's vibrant commercial and financial hub. The university offers MBA as one of the best courses in their curriculum. It has an exceptional program structure that offers its students promising careers as they complete their degrees here. 

TypeFull-time, Part-time, One-year Executive,  Global Executive
Annual Academic FeeCAD 45,470 to CAD 124,893
Duration13 Months – 36 months
GMAT ScoreMinimum 550
EligibilityMinimum of 3.0 GPA in Bachelor’s, minimum 2 years of work experience, or a minimum of 7.0 score in IELTS or 100 in TOEFL for English proficiency
Average Annual Salary CAD 139,966 approx
SpecializationBrand Management, Business Design, Consulting, Financial Reporting & Analysis, Funds Management, General MBA, Global Management, Health Sector Management, Innovation & Entrepreneurship, Investment Banking, Real Estate, Leadership & Change Management, Management Analytics, Process & Supply Chain Management, Risk Management & Financial Engineering, and Social Impact & Sustainability

#2 Ivey Business School – Western University

Ivey is the only school in Canada that offers a real example-based learning approach in the MBA program. They go beyond lecturing and provide a one-year MBA course instead of two years. With the reduced cost of investment, Ivey's MBA becomes rigorous with a comprehensive curriculum. Ivey's full-time faculty members bring rich and varied experiences to students in the classroom.

TypeFull-time, Executive, Accelerated
FeesCAD 126,600
Duration12 Months – 15 Months
GMAT ScoreMinimum 520
EligibilityMinimum 2 years of work experience, IELTS, TOFEL, or PTE score
Average Annual Salary CAD 141,231
SpecializationFinance, Entrepreneurship, Marketing, Corporate Strategy & Leadership, and International Management

#3 Desautels Faculty Of Management – McGill University

Desautels’ MBA program focuses on AI, data analysis, design thinking, and financial technology. McGill has partnered with various government and industry bodies to ensure its learners have access to professional expertise while they are pursuing their studies. The eminent faculty helps nurture the idea of entrepreneurship in students. 

TypeFull-time, Executive
Program FeesCAD 91,000 to CAD 99,500
Duration1 Year – 2 Years
GMAT ScoreMinimum 670
EligibilityMinimum 2 years of work experience, IELTS, TOEFL, or PTE score
Average Annual SalaryCAD 102,466
SpecializationFinance, Marketing, Global Strategy & Leadership, Business Analytics, and Entrepreneurship

#4 Smith School of Business – Queen’s University 

MBA at Queen’s University offers a blended teaching style with experiential learning, simulation, and case studies. The holistic approach of the university provides expertise in technical and interpersonal skills. Besides this, Smith Business School also allows you to customize your program with Sustainable Finance options, a certificate in Social Impact, an individual project course, a student-run hedge fund, and many others. 

TypeFull-time, Executive, Accelerated
Program FeesCAD 81,920 to CAD 105,100
Duration12 Months – 16 Months

GMAT Score

GRE Score

Minimum 600

Minimum 315

EligibilityA Bachelor’s degree of 4 years, a minimum 2 years of  work experience, GRE or GMAT scores, a minimum of 100 scores in TOEFL, or 7.0 score in IELTS
Average Annual SalaryCAD 135,856
SpecializationConsulting, Finance, Entrepreneurship and Innovation, Finance, Management Analytics, Digital Transformation, Sales and Marketing

#5 Sauder School of Business – University of British Columbia (UBC)

UBC’s MBA program provides a rigorous learning approach with a collaborative team, where faculty, staff, and career advisors support you throughout the program journey. Moreover, UBC Sauder ranks #16 in North America for its business research excellence.  

TypeFull-time, Part-time
FeesCAD 94,559
Duration16 Months – 24 Months

GMAT Score

GRE Score

Minimum 550

Minimum 155

Eligibility3 or 4 years Bachelor’s degree with minimum B+ grade, minimum 2 years of work experience, and a minimum of 100 scores in TOEFL, 7 in IELTS, 70 in PTE, or 70 in CAEL for English proficiency
Average Annual SalaryCAD 83,194
SpecializationFinance, Product & Service Management, Climate, Technology & Analytics Leadership, and Innovation & Entrepreneurship 

#6 Schulich School of Business – York University 

MBA at York University offers you the flexibility to switch between full-time and part-time enrollment. It provides real-world experiential learning with strategic consulting project that helps students work with clients on real business problems and solutions. 141 companies hire Schulich MBA graduates. 

TypeFull-time, Part-time, Accelerated, Executive
FeesCAD 117,800 to CAD 140,385 approx
Duration8 Months – 40 Months
GMAT ScoreMinimum 550
EligibilityAn undergraduate degree with a minimum of B+ grade, minimum 2 years of work experience, GMAT or GRE score, and a minimum of 100 scores in TOEFL or 7.0 score in IELTS,
Average Annual SalaryCAD 97,725
SpecializationAccounting, Business Consulting, Digital Transformation, Entrepreneurial Studies, Finance, Financial Risk Management, Marketing, Operations and Management, Strategic Management, Real Estate & Infrastructure, and many others 

#7 Alberta School of Business – University of Alberta 

Alberta School of Business is producing market professionals with an effective, innovative, and go-getter attitude with its programs in Business and Management. The course is a blend of applied learning, practical case studies, and lectures. Development activities and skill-oriented learning is a part of the curriculum, making it best in line with education.

TypeFull-time, Part-time, Executive,  Fast-track
Program FeesCAD 65,000 

10 Months – 22 Months

(3 to 4 years for part-time)

GMAT ScoreMinimum 550
EligibilityAn undergraduate degree with a minimum 3.0 GPA, minimum 2 years of work experience, GRE or GMAT scores, and a minimum of 100 scores in TOEFL, 7.0 in IELTS, 68 in PTE, or 60 in CAEL for English proficiency
Average Annual SalaryCAD 93,000 
SpecializationEnergy Finance, Operations & Business Analytics, Strategy & Consulting, Innovation & Entrepreneurship, and Public Sector & Healthcare

#8 John Molson School of Business – Concordia University 

John Molson Business School is the first in Montreal and fourth in Canada to get accredited by the Association to Advance Collegiate Schools of Business (AACSB). It offers both full and part-time programs, including executive as well as MBA. The faculty at the university focuses on business research helping students prepare for their career goals. The curriculum is a blend of practical learning with a business approach, offering a hands-on experience to students.

TypeFull-time, Executive
Program Tuition FeesCAD 47,900 
Duration20 Months – 24 Months
GMAT ScoreMinimum 580
EligibilityAn undergraduate degree with a minimum of 3.0 GPA, minimum 2 years of work experience, GMAT or GRE score, and a minimum of 7.0 score in IELTS, 95 in TOEFL, or 120 in DET for English proficiency
Average Annual SalaryCAD 104,321 to CAD 153,167
SpecializationAccountancy, Finance, Management, Marketing, Supply Chain & Business Technology Management, and Data Analytics (SAS Certification)

#9 HEC Montreal

Established in 1907, HEC Montreal is among Canada’s top-notch Business schools. It has secured a good position in various ranking surveys like QS ranking, Times Higher Education, Forbes, etc. With esteemed faculty members, who focus on nurturing talent with overall development, the university’s MBA program gives students real-world business and management experience through various learning methods.

TypeFull-time, Part-time Executive
Program FeesCAD 59,100 to CAD 91,000
Duration12 Months – 15 Months



Minimum 570

Minimum 250

EligibilityAn undergraduate degree, minimum 3 years of work experience, TAGE MAGE, GRE or GMAT score, and minimum 5.5 scores in IELTS or 72 in TOEFL
Average Annual SalaryCAD 103,500 
SpecializationBusiness Analytics, Global Markets and International Politics, Sustainable Degrowth, Managing Big Data, Financial Services, Leadership and Corporate Residency, and many more

#10 Rowe School of Business – Dalhousie University

Ranked among the top universities to pursue MBA in Canada, it is a research-oriented and innovation-friendly institute founded in 1818. The main focus it brings with its curriculum is interactive learning, considering the industry’s demand to provide students with professional knowledge from experienced individuals. Skill development and practical expertise are what they want their students to have from relevant experts in the field of study.

Tuition FeesCAD 91,320 
Duration8 Months – 48 Months
GMAT ScoreMinimum 550
Duration8 Months –  48 Months
EligibilityAn undergraduate degree with a minimum of 3.0 GPA, minimum 5 years of work experience, GRE or GMAT score, and TOEFL score for English proficiency
Average Annual SalaryCAD 69,939 
SpecializationFinancial Services, Leadership, and Corporate Residency

Admission Requirements to Study MBA in Canada

Here are the eligibility criteria and documents required in the best universities in Canada for an MBA:

  • A curriculum vitae or resume.
  • An official transcript.
  • You can also study in Canada with an undergraduate degree and the minimum prescribed score as mandated by the institution.
  • IELTS/TOEFL/PTE scores for English proficiency proof are a must to study abroad in Canada. 
  • You will also need a GMAT or GRE score. 
  • Many universities often require a minimum of two years of work experience. However, you can still find some of the best universities in Canada for an MBA without work experience. 
  • Two professional and one academic LORs (Letters of Recommendation)
  • Statement of purpose (SOP).
  • A valid passport and study permit.

Scholarships to Study MBA in Canada

Despite your high aspirations to study in your favorite destination, finance could be a huge problem impacting your desire to pursue MBA in Canada. However, Canadian universities offer several scholarships to fund your studies partially or entirely to relieve you of the financial burden. Let’s have a look at scholarships offered to study MBA at the best universities in Canada.

ScholarshipUniversity NameEligibilityAward
Forte Fellowship Awards

Rotman School of Management

Merit-based for womenCAD 10,000 to CAD 25,000
Entrepreneurship FellowshipIvey Business School

Must have completed the Ivey Certificate in Entrepreneurship and New Venture Project


CAD 40,000
Laurentian Bank MBA Leadership Award

Desautels Faculty Of Management

Must demonstrate leadership qualityCAD 4,000
General entrance scholarship

Smith School of Business

Merit-basedCAD 10,000 to CAD 70,000
UBC Sauder scholarships and awards

Sauder School of Business

Merit-basedCAD 10,000 - $60,000
Robert Krembil Scholarship of Merit

Schulich School of Business

  • Must show a strong academic record
  • Minimum two years of work experience
CAD 80,000
Alberta Graduate Excellence Scholarship

Alberta School of Business

Must demonstrate excellent academics with a 3.3+ GPACAD 12,000

Job Prospects After Stdying MBA in Canada

Completing an MBA degree from Canada can yield you an earning of around CAD 86,000*per annum. The salary varies based on the various job profiles available for you after graduating with an MBA from Canada. Here are some of the job prospects, along with their respective salary, that you can apply for after your MBA.


Job ProfileAverage Annual Base Salary*
Project ManagerCAD 85,401
Management ConsultantCAD 88,007
Marketing ManagerCAD 76,193
Human Resources (HR) ManagerCAD 76,743
Finance ManagerCAD 89,249
Financial AnalystCAD 62,483
Senior Business AnalystCAD 87,917
Operations ManagerCAD 81,366

*Source: Payscale


MBA in Canada with upGrad Abroad

upGrad brings you a Master in Business Administration (MBA) with its Study Abroad program in collaboration with University of Canada West and the Institute of Management Technology, Ghaziabad. It’s a hybrid graduate program. The highlight of the course is that you can pursue it without worrying about expenses, as it comes with an adaptable payment option.

Frequently Asked Questions

Which university is best for an MBA in Canada?

Here are the top 10 universities for an MBA program in Canada that rank in QS Gloabl MBA Rankings 2023:

  1. Rotman School of Management
  2. Ivey Business School
  3. Desautels Faculty of Management
  4. Smith School of Business
  5. Sauder School of Business
  6. Schulich School of Business
  7. Alberta School of Business
  8. John Molson School of Business
  9. HEC Montreal
  10. Rowe School of Business

What is the ideal duration of an MBA in Canada?

Depending upon the university and specialization, the duration varies from 1 year to 3 years for MBA in Canada.




Which universities in Canada accept freshers for MBA?

Most of the universities, such as University of Toronto, York University, Dalhousie University, McGill University, and others, offer scholarships. Apart from that, there are scholarships offered by governments and private organizations that candidates can get while studying in Canada for international students.

Which universities in Canada offer scholarships for MBA students?

Most of the universities offer scholarships, University of Toronto, York University, Dalhousie University, McGill University etc. Apart from that, there are non-specific scholarships that candidates can get while studying in Canada for international students.




Is GMAT compulsory for MBA in Canada?

Several universities demand for a minimum of 550 scores in GMAT. However, several universities have no mandatory requirement for GMAT but in cases like a student with a low GPA there is a need to have good GMAT or GRE score to support the candidature of the student.

Which university is best for MBA in Marketing in Canada?

York University, McGill University, Queen’s University, University of Calgary, University of Canada West are some of the best universities to offer Marketing specialization in MBA.

Which university accepts PTE in Canada for MBA?

Most Canadian universities accept PTE in lieu of the English Language Proficiency Test. Few of the best MBA universities accepting the PTE score in Canada are:

  1. Ivey Business School
  2. Desautels Faculty of Management
  3. Sauder School of Business
  4. Alberta School of Business

Which universities have good placements in Canada for MBA?

University of Toronto, University of British Columbia, and McGill University are among the top Canadian Universities to offer better employment as per the Times Higher Education Global University Employability Ranking 2021.





Anupriya Mukherjee

Sr. Content Writer

Anupriya Mukherjee is a passion-driven professional working as a Content Marketer and earlier worked as a Digital Marketeer. With around 6 years of work experience, she has experience creating high-quality, engaging content for websites, blogs, news articles, video scripts, brochures, and ebooks.

See More