A Master of Business degree is one of the most desirable qualifications in the world. Businessmen and women in the prime of their career often take time out of well-paid jobs to acquire them because of the rewards an MBA can bring. MBAs bring many benefits and are recognised by businesses around the world, but for some prospective students the degree’s cost is off putting.
However, the burgeoning reputation of Canadian business schools, coupled with their often reasonable fees, has drawn many international students towards studying in Canada for their MBA.
MBA students in Canada earn $78,000 on average within a year of leaving the course. The country’s relaxed immigration laws and stable economy means that as many as 80% of international students choose to remain in the country post-graduation for at least a year.
The cost of an MBA degree can vary wildly at Canadian business schools. Of the forty recognised institutions offering an MBA, Université de Sherbrook is the cheapest with a fee of around $4,600, and the University of Toronto’s Rotman School of Management the most expensive with a fee of nearly $90,000.
The very best business schools are accredited by the AACSB, AMBA, or EQUIS, but this accreditation often comes at a price. Canada has six of its business schools ranked in the world’s top 100, with 86th ranked Alberta the cheapest at $27,000.
The basic entry requirement for international students wishing to study an MBA at a Canadian university is a four year bachelor’s degree. Most Canadian MBA courses also demand between 1 and 3 years of work experience, which you can prove with your CV and a recommendation letter.
Some business schools with fewer accreditations will accept students without work experience or a bachelor’s degree, but this depends on the individual institution’s discretion.
You must also achieve a good score on the Graduate Management Admissions Test. The average GMAT scores of successful applicants to top Canadian business schools ranges between 550 and 670. A
Additionally any students whose first language is not English must meet each course’s TOEFL criteria for English proficiency. Almost every Canadian University requires completion of the IELTS, TOEFL or equivalent, and students wishing to study in Quebec may be required to have proficiency in French, which can be demonstrated via the DALF, DELF, TCF and TCFQ tests.
The majority of MBA courses take one to two years to complete. It is important that you choose your MBA course wisely in order to fully benefit from it. In Canada the following MBAs are available:
If you require more information on how to apply for an MBA course in Canada, contact IEC Abroad today for expert help and advice.