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Cost of MBA in Canada: Top Universities, Fees & Cost of Living

Updated on 01 April, 2024

Bulbul Sharma

Bulbul Sharma

Manager- Content @upGrad

Canada has transformed into one of the leading global education hubs. Pursuing an MBA course in the country means taking a simple route towards a multicultural and academically enriching environment, lucrative employment opportunities, easy steps towards obtaining permanent residency and citizenship, and many other benefits. Considerable demand has been observed for MBA courses in Canada, as per reports, and therefore, there is a growing interest in the cost of an MBA in Canada. 

Read More: What is the Student Direct Stream in Canada?

 

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MBA in Canada Cost-Why Study Here

Apart from the comparatively reasonable Canada MBA fees, what are the other reasons for pursuing your MBA in the country? For starters, Canada is home to some of the world’s most reputed and recognized universities that constantly rank high in the global rankings lists, including QS Research, Academic Rankings of World Universities, and Times Higher Education. 

Coming back to the MBA fees in Canada, it should be mentioned that they are comparatively lower than similar courses in several countries, including the US and the UK. MBA fees in Canada for international students may be roughly between CAD 10,000 and CAD 35,000 annually, which is at least US$10,000 cheaper when considering the average course fee of $45000 in the US. 

In fact, the average cost of an MBA in Canada is lower than in Australia ($43,000) and the United Kingdom ($44,000). Almost half a million global students come to Canada annually, and the country offers ample opportunities to experience real multiculturalism along with political stability and a peaceful environment overall. The open and welcoming nature of the country and its citizens is another benefit.  

Along with Canada’s reasonable MBA course fees, students can also expect quality education options at globally reputed universities. Studying in Canada is always a value-for-money experience for MBA students. Successful graduates may earn up to CAD 79,076 annually as an average salary. Entry-level salaries start from CAD 34,170 annually and go up to CAD 120,793 per year for experienced professionals. 

Additionally, students may also expect comparatively easier visa and immigration processes in the country. The pathway is also more accessible for permanent residency and citizenship in Canada.

Read More: Data Scientist Salary in Canada

MBA Fees in Canada at Leading Institutions 

Coming to a low-cost MBA in Canada, you can take your pick from several reputed institutions offering this degree program to students.  The MBA fees in Canada for Indian students may range between ₹11 to 59 lakh. The average cost of an MBA in Canada for international students ranges from CAD 30,000 to 40,000. Scholarships can help significantly reduce these costs, and it should be mentioned that Canada has 100+ leading institutions of higher education, while employment rates have also increased for Canadian MBA graduates. Getting admission into a leading MBA program in Canada will naturally have some specific requirements.

Here’s taking a closer look at leading universities in Canada and the approximate tuition fees charged: 

UniversityBusiness School/Duration of ProgramTuition Fee (CAD)
University of TorontoRotman School of Management (2 years)$66,210 (for year 1)
McGill UniversityDesautels Faculty of Management (1 year to 20 months)$99,500
Queen’s UniversitySmith School of Business (1 year)$104,100
University of Western OntarioIvey Business School (1 year)$88,125
York UniversitySchulich School of Business (16-20 months)$112,250
University of British ColumbiaSauder School of Business (16 months)$51,415
Concordia UniversityJohn Molson School of Business (16-24 months)$47,900
HEC MontrealDepartment of Business (1 year)

54 000 until summer 2022

59 000 from fall 2022

Dalhousie UniversityRowe School of Business (23 months or longer)82,205
McMaster UniversityDeGroote School of Business (20-28 months)86,000-92,000
Brock UniversityGoodman School of Business (2 years)34,175 (per year for 10 courses)
Simon Fraser UniversityBeedie School of Business (16 months)962.40 per unit
University of OttawaTelfer School of Management (2-year)64,000-68,000
Saint Mary’s UniversitySobey School of Business (16 months)43,000
University of VictoriaGustavson School of Business (2 years)39,331.40
University of CalgaryHaskayne School of Business (2 years)25,042.80 (for year 1)
University of SaskatchewanEdwards School of Business (2 years)54,853.86 
University of ManitobaAsper School of Business (2 years)765.26 per credit hour

Cost of Living in Canada

The annual cost of living in Canada ranges from CAD 18,000 to 20,000. Here’s the monthly breakdown of the same:

Category Cost (in CAD)
Accommodation with utilities $800-1200
Food $300-400
Phone & Internet $100-200
Entertainment $50-100
Miscellaneous $100-200

Pre-Arrival Cost for MBA in Canada 

The pre-arrival cost for an MBA in Canada would roughly come out to ₹8 lakh. It would include standardized tests cost, one-way flight tickets, visa fees, university application fees, the purchase of GIC (Guaranteed Investment Certificate), and health insurance. 

Know more about: Statement of Purpose FormatSOP for Canada

Affordable MBA Programs in Canada

The type of MBA programs in Canada that can be pocket-friendly include Executive, Part-Time, Dual Degree, and Full-Time MBA. 

Here’s a list of universities offering affordable MBA programs in Canada

University Fees ( for the entire duration in CAD)
Memorial University of Newfoundland $9,666
Wilfrid Laurier University$16,994.12
University of Alberta$28,281
Vancouver Island University$720.00 per credit

Important Resources to Read About Canada:

Why Study in Canada?Cost of Living in Canada for Indian StudentsAverage Salary in Canada
Part-time jobs in CanadaCost of Studying in CanadaHow to Settle in Canada from India?
Requirements for Studying in CanadaStudent life in CanadaStudent Accommodation in Canada
SOP for CanadaBest City in Canada for International Students

Frequently Asked Questions

Is an MBA in Canada expensive?

One needs to consider the ROI when thinking about the cost-effectiveness of a program. So, yes, an MBA in Canada is expensive, and the tuition costs may go up to CAD 105,000 for the two-year course. But one also needs to be prudent when analyzing the salary packages and opportunities offered upon course completion.

What is the average cost of an MBA in Canada?

On average, one may spend CAD 30,000-40,000 on pursuing an MBA degree in Canada. The figure only includes the cost of study. Once clubbed with the cost of living, it will come out to CAD 50,000-60,000.

Bulbul Sharma

Manager- Content @upGrad

Bulbul is a self-driven professional and an expert writer & editor. She has been a part of the ed-tech industry for the past 2 years now and is motivated to provide study abroad aspirants with factually correct and relevant information. Her knack for impactful writing makes her blogs worth a read!

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