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.
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.
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:
University
Business School/Duration of Program
Tuition Fee (CAD)
University of Toronto
Rotman School of Management (2 years)
$66,210 (for year 1)
McGill University
Desautels Faculty of Management (1 year to 20 months)
$99,500
Queen’s University
Smith School of Business (1 year)
$104,100
University of Western Ontario
Ivey Business School (1 year)
$88,125
York University
Schulich School of Business (16-20 months)
$112,250
University of British Columbia
Sauder School of Business (16 months)
$51,415
Concordia University
John Molson School of Business (16-24 months)
$47,900
HEC Montreal
Department of Business (1 year)
54 000 until summer 2022
59 000 from fall 2022
Dalhousie University
Rowe School of Business (23 months or longer)
82,205
McMaster University
DeGroote School of Business (20-28 months)
86,000-92,000
Brock University
Goodman School of Business (2 years)
34,175 (per year for 10 courses)
Simon Fraser University
Beedie School of Business (16 months)
962.40 per unit
University of Ottawa
Telfer School of Management (2-year)
64,000-68,000
Saint Mary’s University
Sobey School of Business (16 months)
43,000
University of Victoria
Gustavson School of Business (2 years)
39,331.40
University of Calgary
Haskayne School of Business (2 years)
25,042.80 (for year 1)
University of Saskatchewan
Edwards School of Business (2 years)
54,853.86
University of Manitoba
Asper 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.
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 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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