Salary after MBA in Canada: What to expect?

salary after mba in Canada

Canada is one of the most sought-after destinations for world-class business education and has a promising job market for MBA professionals. One of the major reasons behind the country’s popularity for business courses is the assurance of having a stable career and earning a lucrative salary after an MBA in Canada. A job aspirant can earn around CAD 1,33,000 (INR 78,19,781) per year after completing MBA from Canada.

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Universities offering high placement packages after MBA in Canada

Canada is home to globally reputed universities such as the University of Toronto, University of British Columbia, University of Alberta, and McGill University. These top-ranked universities and several others offer globally recognized degrees and make lucrative job opportunities possible. The highest paying MBA specializations include Finance, Operations, Information Technology, and Human Resource (HR) among others. It is important to note that the average salary after an MBA in Canada depends upon the university and program the student has enrolled in.

Name of University

Average salary in Canada after MBA

University of Toronto

87,000 CAD (INR 51.89 lakh)

University of British Columbia

92,084 CAD (INR 54.93 lakh)

University of Alberta

79,000 CAD (INR 47.12 lakh)

Concordia University

86,000 CAD (INR 51.29 lakh)

McGill University

85,500 CAD (INR 51.01 lakh)

York University

94,200 CAD (INR 56.20 lakh)

Western University

117,997 CAD (INR 70.40 lakh)

Queen’s University

92,084 CAD (INR 54.93 lakh)

Ryerson University – Ted Rogers School of Management

54,000 CAD (INR 32.20 lakh)

University of Ottawa – Telfer School of Management

131,000 CAD (INR 78.11 lakh)

University of Manitoba

80,000 CAD (INR 47.70 lakh)

University of Victoria

104,00 CAD (INR 62.01 lakh)

University of Calgary

59,000 CAD (INR 35.18 lakh)

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Sought-after specializations for MBA in Canada

Universities in Canada offer more than 55 MBA programs. The choice of specialization for studying in Canada should be made based on the job market, opportunities, and salary packages offered after course completion. Listed below are the top MBA specializations offered by Canadian B-schools.

Specialization

Type of specialization Areas of function and study Average salary package

Best Universities in Canada

MBA in Finance

Functional Financial management is a specialization that focuses on areas like financial management, accounting, money markets, capital, international finance, banking, and insurance. Students from commerce background and knowledge of accounting can go for an MBA in Finance. The average salary ranges between CAD 61,000 and 130,000 (INR 35,87,238-76,42,437) yearly after MBA in Finance. University of Alberta, University of Calgary, University of Toronto
MBA in Human Resource Functional Human Resource Management is a specialization that focuses on recruitment, employee engagement, staffing, retention, salary, performance appraisal and employee relations among others. The average salary ranges between CAD 89,000 and 169,000 (INR 52,32,121-99,33,871) yearly.

University of Alberta, University of British Columbia, University of Toronto, McMaster University

MBA in Operations

Functional The specialization deals with areas like improving productivity to deliver value to the end customer, turnaround time, cost, and quality. Average salary ranges between CAD 64,000 and 107,000 (INR 37,61,109-62,89,480) yearly. McGill University, University of British Columbia, University of Toronto, University of Concordia, Queen’s University
MBA in Information Technology Functional MBA in Information Technology revolves around programming, analytics, machine learning, artificial intelligence, and various technologies. Average salary ranges between CAD 95,000 and 212,000 (INR 55,85,075-1,24,63,535) yearly.

University of Alberta, University of British Columbia, University of Toronto, University of Concordia, York University, McGill University

MBA in International Business

Functional International Business involves various aspects of business all over the world. IB professionals are mainly into research of businesses across the world and determining their performance. Average salary ranges between CAD 99,000 and 113,000 (INR 58,18,539-66,44,523) yearly. University of Alberta, University of Toronto, University of British Columbia, University of Concordia, Queen’s University, York University, University of Montreal
MBA in Marketing Functional The areas of work include selling, business development, revenue generation, leads, customer service, market research, techniques, and marketing strategies. Average salary ranges between CAD 89,000 and 95,000 (INR 52,33,297-55,85,607) yearly.

Queen’s University, University of British Columbia, University of Alberta, University of Concordia, University of Toronto

MBA in logistics and supply chain

Functional Areas like planning, implementing, controlling the flow and storage of goods and services between the point of origin and consumption are the focus.

 

 

Logistics and supply chain is a rewarding career with an average salary of CAD 65,000-89,000 (INR 38,21,731-52,33,448) yearly. University of Toronto, University of Alberta, University of British Columbia, University of Concordia, Queen’s University, York University, University of Montreal
MBA in Healthcare Functional It is a fast-growing industry, and the scope is vast in the pharmaceutical and government healthcare sectors. Private sector offers equally rewarding opportunities. Average salary ranges between CAD 90,000 and 111,000 (INR 52,92,250-65,26,561) yearly.

University of Toronto, Queen’s University, McGill University, University of Concordia, University of British Columbia

MBA Data Science

Functional The industry revolves around interpretation of data, researching data sources, processing data, and creating data models.

 

 

 

Average salary ranges between CAD 98,000-162,000 (INR 57,60,738-95,22,854) yearly.

University of Montreal, University of Alberta, University of Toronto, University of Concordia, Queen’s University, York University, University of British Columbia

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Industry destinations for MBA from Canada

  1. Finance- The financial services rank high on the list of industry destinations for MBA in Canada. Sauder is an exception where fewer than one out of five MBAs have decided to proceed with finance. The financial sector records a salary of between CAD 80,000-85,000 approx (INR 46,95,440 to 49,90,422) for MBA graduates.
  2. Consulting- The consulting sector has been recognized as one of the top choices in terms of industry destinations for MBA in Canada. About 25-30% of MBA graduates choose to enter consultancy firms in Canada. This sector records an average salary of CAD 90,000 approx (INR 52,82,370) for MBA graduates.
  3. Technology- The technology conglomerates in Canada proved to be the largest industry employers. A median MBA salary in Canada ranges around CAD 93,000 approx (54,61,981 INR).

Salary levels of MBA graduates in Canada

There exist variations in the salary of MBA in Canada depending on the job titles and responsibilities. The average salary levels according to job titles are listed below-

  1. Project Manager- CAD 84,000 (49,33,402 INR)
  2. Chief Executive Officer (CEO)- CAD 151,000 (88,65,464 INR)
  3. Management Consultant- CAD 85,000 (49,90,658 INR)
  4. Senior Business Analyst- CAD 86,000 (50,49,234 INR)
  5. Financial Analyst- CAD 62,000 (36,39,367 INR)

Career options after MBA in Canada

Canada is one of the most powerful economies in the world. Top business organizations such as Morgan Stanley, McKinsey, EY, KPMG, Deloitte, Infosys, HCL Technologies, Microsoft, Apple Inc, Google, and Accenture hire MBA professionals regularly from Canadian universities.  Here are some of the promising career options for MBA professionals in Canada:

1. Financial Manager

A Financial Manager is a profile offered to an aspirant with an MBA degree in Finance as a specialization. The average salary ranges from INR 45 lakhs to 65 lakhs annually. The area of function is taxation, payrolls, accounts, financial management, and international finance.

2. Financial Analyst

The role and responsibilities of a Financial Analyst include financial operations, budget, risks, capital planning, and the financial health of the company. The average salary ranges from INR 43 lakhs to 52 lakhs.

3. Marketing Analyst

You can be a Marketing Analyst after an MBA in marketing. The professionals engage in business analytics and marketing research for the firm. Consumer data and market data are used by marketing analysts to track, assess risk, and analyze competition. Marketing managers use this data to formulate strategies, campaigns, and promotional endeavors. The average salary of a marketing analyst is around INR 30 lakhs to 50 lakhs a year.

4. Recruitment Specialist

The recruiter is responsible for the onboarding of various IT and non-IT requirements. The entire employee lifecycle is maintained, including sourcing, screening, recruitment, joining, onboarding, and exit formalities by a Recruitment Specialist. The average salary is INR 27 lakhs to 35 lakhs annually.

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5. Sales Manager

A Sales Manager is a sought-after profile offered to an MBA professional with a specialization in marketing. The job roles are business development, market research, team handling, and revenue generation. They work with the executives to generate revenue for the company. The average salary ranges between INR 50 lakhs and 80 lakhs annually.

6. Operations Manager

The role involves managing the production of goods and services. It includes proper planning and executing the operation process concerning cost, time, materials, and labor. The annual salary of an Operations Manager is INR 80 lakhs on an average.

7. Marketing Coordinator

Here the professional needs to coordinate with the sales team and marketing analyst to track the sales and revenue of the organization. The average salary offered is INR 70 lakhs yearly.

8. Human Resource Director

The average salary ranges between INR 85 lakhs and110 lakhs annually. The professional heads the HR Manager and the entire Human Resource team. The director will be responsible for creating the policies, strategies, and various organizational rules and regulations.

9. Business Consultant

A Business Consultant profile is offered to students with an MBA in International Business. The average salary is INR 36 lakhs annually. The job responsibilities include planning and managing assigned business projects on behalf of clients as per their requirements.

10. Data Scientist

A Data Scientist is responsible for the blend of computer science, modeling, statistics, analytics, and math skills, along with sound business sense, so that the company can achieve its designed objectives and goals. The average salary is INR 70 lakhs a year and increases with promotions and increments.

11. IT Consultant

The average salary is INR 55. This career opportunity is among the most promising ones in Canada and offers ample scope for growth.

Aspirants from various disciplines can opt for any one of these popular MBA specializations and reap the benefits of pursuing the course from top-ranked Canadian universities.

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Frequently Asked Questions 

What is average salary after MBA in Canada?

The salary after MBA in Canada varies depending on the university studied from and the job profile. On an average, it can range between CAD 30,000-160,000 approx (INR 17,61,929 to 93,96,957).

How much does an MBA increase your salary?

An MBA certainly adds value to one’s job prospects. The increase in the average salary after MBA in Canada depends on the industry destinations. For instance, consulting industries record a 50% increase in after one pursues a Canada degree, Private Equity industries record a 40% increase, and so on.

Which MBA has highest salary in Canada?

In Canada, the MBA specializations that offer the highest salaries include Finance, Operations, IT, and HR.

What is the scope of an MBA in Canada?

The high standards of living, cultural diversity and booming economy of Canada make it an attractive destination for MBA graduates for education and professional opportunities.

Can you settle in Canada after your MBA?

Yes. If you hold an MBA degree and a job, you can contemplate immigrating to the country and settling there.

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