MBA in Canada 2021 – The top 20 B-Schools in Canada

May 16th, 2021

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Best MBA colleges in Canada

If you are an MBA aspirant, chances are you are expecting to pursue an MBA in the US. But before you take the plunge, let us inform you about the Best MBA colleges in Canada. Apart from being the USA’s closest neighbor, Canada also offers relaxed immigration rules and is a magnet for several South-East Asian people searching for a better life. Also, they provide competitive alternatives to US B-schools.

The best MBA colleges in Canada offer one and two-year degree programs with good returns on the investment. Most of these B-Schools have relatively affordable education ranges from CAD 22,000 to CAD 120,000. Students can choose between a general MBA or pursue a specialized degree in a subject like marketing, finance, or consulting.

Also read: Why Should You Do An MBA? Here Are The Top 40 Reasons To Do MBA In 2021

If you wish to know more about the best MBA colleges in Canada, you don’t have to wait. In this blog, we will discuss the factors that make Canada an ideal location for you to pursue your MBA dreams and inform you about the top 25 Canadian B-Schools you can apply to. We will also discuss some other important factors like top salaries you can expect, eligibility criteria, and the importance of AACSB accreditation.

Note

Stick with us till the end; we will also answer some pertinent questions you might have upon reading this blog.

With that introduction, let us inform you what essential aspects you should know before applying to the best MBA colleges in Canada.

1. Why You Should Pursue Your MBA in Canada

It is common knowledge that Canada has become a hot destination for higher studies. With easy immigration route, multicultural environment, accessible path of getting Permanent Residency (PR), and citizenship, making it ideal for students who wish to pursue their MBA from Canada.

Now, let us look at some of the key factors why you should consider this country as your MBA destination.

1. Multicultural Environment: It is estimated that half a million international students go to Canada to pursue their education. With a diverse population, this country offers a truly multicultural society. Also, with less crime, political stability, and a peaceful environment, you would be able to study, train and earn at your highest potential.

2. Affordable Fees: Pursuing an MBA in Canada is easier on your pockets when compared to pursuing an MBA in the USA. Fees for MBA in Canada can vary from 10000 to 35000 CAD per year, an enormous gap of around 10000 US$ when compared to an average of 45000$ USD. The cost of studies and the cost of living is much lower in Canada than in many different study destinations.

3. Quality Education: The best MBA programs in Canada offers internationally recognized degrees with quality education. This helps you utilize your education to get the best career opportunities. It also means that the ROI of an MBA increases. It also makes Canada’s top universities are some of the most sought-after options for MBA aspirants.

4. Accessible Visa and Citizenship option: Canada’s immigration process does not require you to spend hours filling out paperwork. Also, with a relatively easier path of accessing Canadian PR and citizenship, you should think about choosing Canada as your MBA destination.

5. Work opportunities: Like other MBA programs, Canadian universities collaborate with several leading industries to enhance their curriculum and get excellent placements for their students. Did you know that over 50 Canadian universities offer business co-op programs allowing students to engage in productive work in their field and receive a remuneration?

Also, if you are a full-time student and managed to obtain a study permit, you can work without a work permit on-campus or off-campus for up to 20 hours per week during the regular academic session. During breaks from the school year, international students can work up to 40 hours per week, giving them valuable real-world experience.

6. Scholarships: Almost every Canadian B-Schools offer entrance scholarships based on your academic achievements. These scholarships will depend on your academic merit and leadership qualities that you have showcased through education, activities, and work experience.

Also read: All You Need To Know About MBA Scholarships Offered By Top B-Schools

According to the survey by GMAC, We can see a tremendous shift for choosing to pursue MBA in Canada. We can see a hike of +7.7% from 2019. This means that a B-School exposure for your MBA would help you gain a world-class education along with industry exposure that will help you land your dream job.
Now that you can see how lucrative it is to pursue an MBA from Canada let us focus on the best MBA colleges in Canada.

2. Best MBA Colleges in Canada

This section will discuss the best MBA colleges in Canada and share their average GMAT score, duration of the course, and other relevant information. Let’s start!

Location: Toronto, Ontario
Duration: 2 years
Average Work Experience: 4 years
Average GMAT Score: 670
Tuition Fees: $120,680 (CAD)

Concentrations: Brand Management, Business Design, Consulting, Financial Reporting, and Analysis, Funds Management, Global Management, General MBA, Health Sector Management, Innovation and Entrepreneurship, Investment Banking, Leadership and Change Management, Process and Supply Chain Management, Real Estate, Risk Management, and Financial Engineering, Sustainability

Rotman is considered one of the best MBA colleges in Canada. It has topped the charts for decades. Known to be one of the most innovative B-Schools on Canadian soil, Rotman was the first to introduce video essays to its admissions process. The critically acclaimed Self-Development Lab and flexible Internship Program have earned Rotman its stellar record as far as campus placements go.

For more details, visit Rotman’s MBA Page.

Location: London, Ontario
Duration: 1 year
Average Work Experience: 5 years
Average GMAT Score: 661
Tuition Fees: $106,500

Concentrations: You can choose from among five focus areas, and your course will be tailored accordingly. The five focus areas are Finance, Entrepreneurship, Marketing, Corporate Strategy and Leadership, and International Management.

The Ivey Business School is one of the best MBA colleges in Canada. Their in-house career management team is internationally acclaimed for the work it does, which is just made better by the fact that 94% of Ivey graduates switch careers post-MBA.

For more information, visit Ivey’s MBA Page.

3. Desautels Faculty of Management, McGill University

Location: Montréal, Québec
Duration: 20 months
Average Work Experience: 5 years
Average GMAT Score: 675
Tuition Fees: $89,000 (including international trip)

Concentrations: Global Strategy and Leadership, Finance, Business Analytics, and Marketing.

Several students choose to pursue their MBA in Canada at the Desautels Faculty of Management. It offers various MBA programs, some of which look to integrate other fields of study with the MBA curriculum – like the Law MBA or the MD MBA programs. The McGill Case Competition Association and the McGill Business Consulting Group offer you excellent opportunities to learn in real-world scenarios.
For more information, visit McGill University’s MBA page.

Location: Toronto, Ontario
Duration: 20 months
Average Work Experience: 5 years
Average GMAT Score: 660
Tuition Fees: $101,900

Concentrations: Accounting; Arts, Media & Entertainment Management; Business & Sustainability; Business Consulting; Entrepreneurial Studies; Finance; Financial Risk Management; Financial Services; Global Mining Management; Global Retail Management; Health Industry Management; International Business; Marketing; Operations Management & Information Systems; Organization Studies; Real Estate & Infrastructure; Social Sector Management; Strategic Management

This is easily one of the most recognized names on the list of top MBA colleges in Canada. The Schulich School of Business is known for being highly student-centric, offering flexible study options so that you can take classes at the Keele campus or the Toronto satellite campus. The most interesting part for most students is the two-term strategic consulting project to work with clients on real business problems and solutions.

For more details, visit Schulich’s MBA Page.

Location: Kingston, Ontario
Duration: 1 year
Average Work Experience: 4 years
Average GMAT Score: 650
Tuition Fees: $97,000

Concentrations: Consulting, Digital Transformation, Entrepreneurship and Innovation, Finance, Management Analytics, Marketing & Sales

Irrespective of the specialization you choose to go for, the Smith MBA requires you to undertake a mandatory Individual Project Course. As a part of this one-year MBA program in Canada, you can work with an existing company to help deal with real-world business situations. Alternatively, you’re expected to come up with a new venture of your own. Often, these projects can even be launched as start-ups with the help of the Smith School of Business.

For more details, visit Smith’s MBA Page.

6. HEC Montreal

Location: Montréal, Québec
Duration: 1 year
Average Work Experience: 7 years
Average GMAT Score: 625
Tuition Fees: $34,050

Concentrations: Entrepreneurship; Finance, Strategy, and Consulting; Markets and Business Intelligence; General Management and Leadership; International Management; Digital Enterprise

HEC Montréal has 300 faculty members who are industry experts from various walks of life. The top B-School in Canada offers an optional Global Immersion Program, which is integral to making the very best of the HEC Montréal full-time MBA. The school also has an excellent placement record with an average wage increase of 28% across the board.

For more details, visit HEC Montréal’s MBA page.

7. Sauder School of Business, University of British Columbia

Location: Vancouver, British Columbia
Duration: 16 months
Average Work Experience: 5 years
Average GMAT Score: 650
Tuition Fees: $80,060

Concentrations: Finance; Product and Service Management; Innovation and Entrepreneurship; or you can create a customized concentration for yourself.

UBC Sauder is one of the few B-Schools in Canada that allows you to customize and create your concentration during the latter half of your 16-month MBA program. High on the customization factor, UBC Sauder has many self-development options headed by the Business Career Centre. Services available include one-on-one career coaching and guidance lectures, and workshops.

For more details, visit Sauder’s MBA page.

8. John Molson School of Business, Concordia University

Location: Montréal, Québec
Duration: 16 months
Average Work Experience: 5.5 years
Average GMAT Score: 635
Tuition Fees: $50,528

Concentrations: You are expected to choose topics from the following themes to create your own concentrations – Business Analytics; Entrepreneurship and Family Firms; People and Organizations; Consulting and Strategy; Globalization; and Experiential.

Only 39% of an average MBA batch at the John Molson School of Business is made up of Canadian students. This means that it is a clear choice among international MBA students. A convenient class scheduling system allows you to pick out your own schedule, with the option to choose afternoon and evening classes per your convenience.

For more details, visit Molson’s MBA page.

9. University of Alberta School of Business

Location: Edmonton, Alberta
Duration: 20 months
Average Work Experience: 4.6 years
Average GMAT Score: 613
Tuition Fees: $57,909

Concentrations: Energy Finance; Innovation & Entrepreneurship; Operations & Business Analytics; Public Sector and Healthcare Management; and Strategy & Consulting

An MBA from the University of Alberta’s School of Business equips you with the proper knowledge to help you succeed in all kinds of environments – from large corporates to start-ups. The mandatory Capstone Project at the end of the program requires you to work with an external organization, helping them handle a critical real-life problem.

For more details, visit Alberta’s MBA page.

10. DeGroote School of Business, McMaster University

Location: Burlington, Ontario
Duration: 20 months
Average Work Experience: 3 years
Average GMAT Score: 630
Tuition Fees: $82,000

Concentrations: Accounting and Financial Management Services; Finance; Health Services Management; Strategic Business Valuation; Strategic Marketing; and Data Analytics.
Housed in the Ron Joyce Centre at the Burlington campus, the DeGroote MBA provides a shuttle service from the main campus at Hamilton. The MBA is available in multiple formats, but the full-time program lasts a minimum of 20 months. An in-house career management service organizes company information sessions, mock interview nights, and one-on-one coaching sessions to help you take full advantage of the course.

For more details, visit DeGroote’s MBA page.

11. Sobey School of Business

Tuition: US$30,541
Students in class: 23
Percentage of female students: 43 percent
Percentage of international students: 52 percent

The 16-month Sobey MBA program consists of 54 credit hours with 18 courses and six electives. In the summer before starting the program, participants will complete online prep courses: Mathematics for Managers; Accounting; Economics.
A local service-learning immersion connects students with businesses and organizations through volunteer projects. Similarly, in the summer of their first year, students will undertake an international/intercultural experience.

For more information, visit Sobey’s MBA page.

12. Goodman School of Business, Brock University

Location: Ontario, Canada
Duration: 2 years
Average GMAT Score: 550
Tuition Fees: $140,000 (CAD)

Concentrations: Master of Business Administration; Master of Business Administration International Student Pathway; Master of Accountancy; Master of Professional Accounting International Student Pathway; Master of Science in Management; Graduate Diploma in Business Administration and Certificate Administrative Studies.
The Goodman School of Business offers programs at both the undergraduate and graduate levels of study. If you wish to pursue your MBA in India, you should give this B-School a try as it is also one of the few B-Schools to get accreditation by the AACSB[1] membership in Beta Gamma Sigma.

For more details, visit Goodman’s MBA page.

13. Sprott School of Business, Carleton University

Location: Ottawa, Canada
Duration: 16 months
Average GMAT Score: 612
Tuition Fees: $26,000 (CAD)

Concentrations: Financial Accounting; Managerial Accounting; Statistics for Managers; Business Ethics; Financial Management; Corporate Finance; International Business; Fundamentals of IT Service Management; Managing People and Organizations; Marketing Strategy; Operations Management; Corporate and Business Strategy and Strategic Concepts.
The Sprott School of Business is accredited by the Association to Advance Collegiate Schools of Business (AACSB) and the Network of International Business Schools (NIBS). They help their students explore various management concerns with their programs, interdisciplinary research, and collaborative partnerships. Known to be highly research-oriented, they have won several accolades for their research contribution as well.

For more details, visit Sprott’s MBA page.

14. Ted Rogers School of Management, Ryerson University

Location: Toronto, Canada
Duration: 12-24 months
Average GMAT Score: 614
Tuition Fees: $22,328.57 (CAD)

Concentrations: The core courses are Managing in a Diverse World; Regulation Government and Social Responsibility Management; Financial Management; Innovation and Organization Theory; Technology and Organization Strategy; Global Markets and Tech Trends; Research and Communication for Managers and Research and Communication for Business Startups.
The Ted Rogers School of Management offers two MBA courses- 12 months accelerated full-time program and 24 months part-time program. This B-School is a preferred choice for MBA in Canada by business professionals and entrepreneurs. If you wish to complete the MBA program here, you will have to complete all the required core courses, three electives, and one project. They also claim to have one of the best ROI for an MBA.

For more details, visit Ted Roger’s MBA page.

15. Beedie School of Business, Simon Fraser University

Location: Burnaby, Canada
Duration: 12 months
Average GMAT Score: 615
Tuition Fees: $40,500 (CAD)

Concentrations: Business Ethics; Managing People and Organizations; Financial Management; Financial/Managerial Accounting; Leadership & Teamwork; Managing a Globalized Workforce; Business and Indigenous Peoples and Business and Indigenous Communities.
Beedie School of Business boasts of combining theory and application in a collaborative classroom. They offer comprehensive curriculums that incorporate real-world business challenges and explore relevant topics such as sustainability, new ventures, and international business. They also encourage students to participate in international applied projects and other networking events instead of extending the semester breaks.

For more details, visit Beedie’s MBA page.

16. Haskayne School of Business, University of Calgary

Location: Two locations- Calgary and Alberta, Canada
Duration: 20 months
Average GMAT Score: 600
Tuition Fees: $32500

Concentrations: Bachelor of Commerce; Master of Business Administration (MBA); Executive MBA; Global Energy Executive MBA; Ph.D. in Management; Master of Science in Sustainable Energy Development; and a full range of open and customized Executive Education programs.
Internationally recognized for its excellence in business education, research, and community outreach, Haskayne emphasizes energy, entrepreneurship, and ethical leadership.
The Haskayne School of Business also has more than 3,600 full and part-time students and over 1,300 executive education program participants. With over 24,000 alumni in over 80 countries, their play an essential role in shaping the next business leaders.

For more details, visit Haskayne’s MBA page.

17. Edwards School of Business, University of Saskatchewan

Location: Saskatoon, Canada
Duration: 1-3 years
Average GMAT Score: 570
Tuition Fees: $47,409 (CAD)

Concentrations: Financial Statement Analysis; Marketing for Organizational Decision Making; Financial Management; Accounting for Planning & Decision Making; Corporate Finance; Operations Management; Business and Society; Integrative Modules; Entrepreneurship and Business Planning; Tactical Strategy; Venture Management; International Business and & Global Marketing; Strategic Human Resources Management; Leadership & Organizational Dynamics and Essential Management Skills Retreat.
The Edwards Master of Business Administration program focuses on team building, leadership, and business strategy. Here, you will be exposed to people management skills that are both integrative and strategic. They help you gain a deeper understanding of organizations and their local and global context.
Another exciting aspect about this B-School is that you do not need a bachelor’s degree in Business to get an MBA.

For more information, visit Edwards’ MBA page.

18. Lazaridis School of Business and Economics

Location: Ontario, Canada
Duration: 12 months
Average GMAT Score: 640
Tuition Fees: $15,405.00/term

Concentration: Accounting; Entrepreneurship; Financial Management; International Business Management; Marketing; Operations Management; Organizational Behaviour and Human Resource Management; Strategic Management and Supply Chain Management

This AACSB accredited B-School provides a rich classroom experience that allows you the opportunity to study and interact with a diverse class of students. You will experience a case-based learning environment with debates and in-depth discussion. This B-School promotes team-building exercises to facilitate thinking and networking opportunities.

For more information, visit Lazaridis’s MBA page.

19. Peter B. Gustavson School of Business

Location: Victoria, Canada
Duration: 16 months
Average GMAT Score: NA
Tuition Fees: $4,608.88

Concentration: Accounting and Financial Responsibility; Foundations of Sustainability; Business Economics; Applied Data and Decision Analysis; Designing Innovative Organizations; Finance for Impact
The Peter B. Gustavson B-School believes in implementing sustainable business practices to transform the business world. Their transformative program helps you gain the right skills to drive change. They follow an integrated block format which helps you get in-depth management skill, with a focus on responsible leadership and innovation for the 21st century. During your 16-month program, you will collaborate with students from around the world, tackling tough real-world projects that span the full spectrum of business disciplines.

To know more, visit the Peter B. Gustavson’s MBA page.

20. Asper School of Business

Location: Winnipeg, Canada
Duration: 24 months
Average GMAT Score: 590
Tuition Fees: $765.26 (CAD)

Established in 1937, The Asper School of Business is renowned as a higher education institute of Canada that started as a Faculty of Management of the University of Manitoba but was renamed in honor of Izzy Asper in 2000. They received the AACSB certification in 1999 and reaccreditation was carried out in 2009 and 2015.

To know more, visit Asper’s MBA page.

Now that we have discussed the top 20 B-Schools in Canada, let us look at what MBA salary you can expect after completing your program.

3. MBA Salary in Canada for Top Canadian Universities

We will present this information in a tabular format.

Top B-School in Canada Average Salary (CAD)
Rotman School of Management 99,419
Schulich School of Business 93,100
Ivey Business School 1,15,146
HEC Montréal 80,000
Queen’s Smith School of Business

1,28,681
Alberta School of Business

88,881
Desautels Faculty of Management

87,661
Sauder School of Business

83,633
John Molson School of Business

85,259
Goodman School of Business

65,000

Upon looking at the table above, we realize that the average salary for the MBA colleges mentioned above is CAD 97,200.

Also, you should know that the average fee for an international or Indian student is approx. CAD 78,934. This shows that the ROI of an MBA at one of the best MBA colleges in Canada is higher than in most countries.

Now that you have more clarity regarding the ROI of a Canadian B-School let us inform you about the eligibility criteria.

4. Eligibility Criteria for MBA in Canada

The first step for you to know before applying for an MBA in Canada is to apply to a Canadian university for a study permit. Below, we will be sharing the common admission requirements with you all.

1. Relevant undergraduate degree
2. Work experience
3. TOEFL and IELTS score
4. A good GMAT score

For Indian students, the Canadian government has opened a New Visa Stream. This will mean that your study permit is prioritized if you live in India. Now let us also inform you that applying to the best MBA colleges in Canada can be lengthy, and it is wise to apply at least 15 months prior.

Below, we will share the list of documents you will require for the admission process.

1. Academic records: Transcripts
2. IELTS/TOEFL: English Proficiency
3. Work experience Proof
4. Bank statements for financial proof
5. Letter of Recommendation
6. Statement of Purpose
7. Related documents related to visa

We hope you are clear about the admission criteria from the best colleges in Canada. We will now share another table with you that will discuss AACSB Accredited Universities. We will discuss the significance of this AACSB accreditation and why you should pay close attention to it.

5. AACSB Accreditation- Importance and B-Schools affiliated

While B-School will analyze whether you have what it takes to join their program, it is equally essential for you to check whether a B-School is as good as they claim. One good indicator is whether they are accredited by AACSB.

Now, what is AACSB?

The Association to Advance Collegiate Schools of Business (AACSB) accredits different B-Schools worldwide. This accreditation is one of the most selective and rigorous evaluations for business schools. Today, 620 schools in 38 countries hold AACSB accreditation.

AACSB stands for The Association to Advance Collegiate Schools of Business, and it demonstrates that a particular B-School meets the standards required by them. This accreditation works in two ways- it tells you that this B-School is of a high standard, and secondly, it sends a good message to potential recruiters.

So how does AACSB evaluates B-Schools?

The AACSB Association evaluates business programs on the highest quality standards and checks every aspect of a school’s academic program. It includes curriculum, institutional development, teaching, student learning, global awareness, and academic research quality.

Did you know that this process is so rigorous that less than 5% of the world’s 13,000 business programs have earned AACSB accreditation?

The accreditation process lasts more than two years where B-Schools must develop a plan that aligns their academic standards with those of the AACSB. The process is two-fold- self-process and on-site evaluation. After a B-School is awarded the AACSB accreditation, it gets reviewed every five years.

Now that you know why the AACSB accreditation is so important, let us share some of the top MBA universities and the B-Schools in Canada that are AACSB Accredited:

Universities Business Schools
Brock University Goodman School of Business
Concordia University John Molson School of Business
Université Laval Faculté des sciences de l’administration
Carleton University Sprott School of Business
Dalhousie University Faculty of Management
Université de Montréal HEC Montréal
Queen’s University Stephen J.R. Smith School of Business
Memorial University of Newfoundland Faculty of Business Administration
Lakehead University Faculty of Business Administration
Ryerson University Ted Rogers School of Management
University of Toronto

Joseph L. Rotman School of Management
University of Manitoba

I. H. Asper School of Business

Typically, people choose to go in for an MBA for two reasons: one is in pursuit of pay hikes, and another is in the quest for a career change. An MBA is one of the safest ways to switch careers smoothly, and it nearly always guarantees a higher income than before.

So, whether you’re looking to do an MBA for these reasons or any others, you will need a solid profile to get an admit from any good MBA college in Canada or anywhere else around the world. Get your profile evaluated for an MBA to get a better understanding of where you stand!

Commonly Asked Questions

What is the duration of an MBA in Canada?

The duration of an MBA in Canada is 1-2 years. But you should know that several B-Schools offer accelerated MBA programs that are less than a year’s duration

What is the cost of pursuing an MBA in Canada?

The cost of pursuing an MBA in Canada can range between CAD 22,000 to CAD 120,000. This is equal to 12 to 68 lacs for an Indian student for completing an MBA in Canada.

Can I do MBA specialized degree in Canada?

Yes. Students who go for a management degree in Canada can choose to pursue a general MBA, or do a specialized degree in a subject like marketing, consulting, finance, and more.

Is Canada a good option for MBA?

MBA colleges in Canada are a good option for an accessible MBA program that has a high ROI. In 2019, the average MBA holder in Canada can expect a base salary of just under $100,000—higher than comparative salaries in France, Australia, and the UK.

Do Indians get jobs after MBA in Canada?

After completing your education, like a one-year MBA program, you will be entitled to a year open work permit. It means that you can easily find work and move towards a better life. Also, it is a known fact that Canada houses several Indians, who would be more than willing to help you.