The cost of MBA Programs in Canada tends to differ from one institution to another depending on courses offered, duration of studies, nationality of the students, province, size of the university, and many other factors.
Regular MBAs cost around $23,900 on average while the executive MBA programs generally remain the most expensive and costs around $42,440 on average.
As one would expect, international students pay higher fees compared to Canadians in Business Schools.
According to the QS World University Rankings of 2018, seven of the world’s top 150 universities are based in Canada. Canada is also the country that has the highest number of international students with about a 90% increase in the number of international students that enter Canada since 2008.
This means that Canada is a safe haven for international students. As an international student, you will feel comfortable studying in Canada as you will have the opportunity to study in one of the best universities in the world.
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Why Prefer Canadian MBA?
Canada is preferred by many local and international students for the purpose of getting an MBA from its education institutions (colleges and universities) because they are some of the best available.
If you want to pursue an MBA course in Canada, it is important to note that the tuition fees generally are less expensive compared to other popular Anglophone destinations including Australia, the US, and the UK.
But even with that knowledge, it is also a fact that the tuition fees are quite high when you compare to some other second and third-tier countries.
Furthermore, nine Canadian universities are among the top 150 universities for MBA globally, as per QS MBA Rankings for 2020.
Moreover, a business degree in Canada is ranked among the top 10 universities with the highest salaries after graduation.
Types of MBA courses in Canada
There are various types of MBA programs that you can enroll in Canada depending on the one that suits your specialization. They include
With an understanding of the diversity of the Canadian workforce, an MBA program prepares a student to enter the job market as a leader.
- The program is usually a two years course and students can choose to study full-time.
- This is a program best suited for students who ready to devote their time to study.
- Candidates are required to sit for GMAT and language proficiency tests to get admission for full-time MBA courses in Canada.
- It has a longer duration period than a full-time MBA but more suitable for working professionals who are looking for a degree.
- The average duration is 3-6 years depending on the university of your choice.
- Fresh graduates who cannot devote time to on-campus studies can also choose a part-time MBA program.
- The is a13 monthly program, where the ROI is both personal and professional.
- This is designed for executives and those with a managerial level of experience who want to advance their education.
- Candidates are required to get at least 8-10 years of experience to get admissions for executive MBA courses.
Cost of MBA Programs in Canada
Canada’s 5 cheapest MBA Colleges
1. Royal Military College
There are quite a number of MBA courses that are offered by the institution. The education that is provided combines commercial, military, and government perspectives.
When a student graduates, he/she will have gained valuable and wide-ranging knowledge in areas that are specific. Royal Military College tuition stood out amount top MBA Programs in Canada.
Royal Military College offers about 14 courses that are mandatory for all students. Overseas students can apply for an MBA course, full or part-time, at the institution.
The fee for an MBA program is about $13,900. Some of the minimum requirements required include original transcripts (degree/s), letters of reference, and GMAT test.
2. Memorial University
If you want to expand your horizon as a student, local and international, then Memorial University presents a great opportunity if you apply.
The MBA program that the institution offers takes a duration of about 12 months. The environment is conducive in all respect for you to be able to study Business Administration, entrepreneurship, and social enterprise.
The aim of the institution is to be able to prepare leaders both in leadership and business roles. A leadership that is able to meet the present and future challenges with great determination and enthusiasm. The institution compared to other Canadian colleges offers for students MBA programs that are really affordable. The affordable tuition fee is around $4,400. The admission requirements for the programs include an undergraduate degree with a second-class standing from a recognized institution, a GMAT score of 550 minimum, work experience, and references.
3. Laval University
Laval University is another learning institution that fits effortlessly in the category of the most affordable MBA School in Canada.
Furthermore, Laval University is considered among the top Canadian business schools. That is because the institution delivers high-quality education aided by its state-of-the-art facilities.
If you happen to be a deserving student then you will receive a generous MBA scholarship in Canada from the institution and that is of course apart from employment opportunities.
The tuition fees for international students are about $11,500 and the duration of the tuition is 2 years. The admission requirements for the program include an undergraduate degree from a recognized academic institution.
4. University of Manitoba
For you to be able to gain valuable experience in the business world, then it is advised that the University of Manitoba becomes your institution for studies. An ideal environment for studying MBA is created by a variety of programs offered and of course the teaching blend.
As a student, you will be able to choose your program according to your interests and be able to switch to part-time from full-time when there is a need.
The tuition fee for international students is about $4,456 and the learning duration is 2 years. The admission requirements include professional work experience, an undergraduate degree from a recognized educational institution, and language proficiency.
5. Waterloo University
The duration of an MBA program that is studied full-time is 1 year. But if you love part-time studying, the university also offers that option which takes place in the evenings.
A student will be able to be introduced to various concepts of science management including information systems and of course technology management as they constitute foundations for effective and creative business management.
The tuition fee is about $18,000 and therefore the institution is among the most affordable MBA schools in Canada.
The duration of the course in this Canada’s cheapest MBA College is about 1 year. The admission requirements include full-time experience in working, referee information, and a 4-year undergraduate degree.
Top 4 Most Expensive MBA Courses in Canada
Having looked at some of the most affordable MBA schools in Canada, consequently, here I will delve into the most expensive MBA courses.
It is important to note that even though the MBA programs are considered expensive, they are worth the price in the long run. A considerable investment spent generally translates into more or higher lifetime earnings.
1. Rotman School of Management – U of T
If your desire is to enhance your career and leadership prospects then this institution sitting comfortably in the bracket of the most expensive MBA courses is the one for you.
The MBA program duration is 2 years and the fee for that duration is about $110,000 in 2018. The program is offered for full-time and part-time and the institution offers close to 16 MBA majors for you to be able to chart a career path that is new or simply enrich your expertise.
The minimum requirements for the program include demonstrating that you are and can be a leader and of course strong academic performance.
2. Ivey Business School
The MBA program that the institution offers starts in March and lasts for 1 year. The program is designed for leaders who are high-achieving and who still want to accelerate further their success.
An Ivey MBA program costs about $85,000 in tuition fees. Some of the minimum requirements for the program include a strong academic record, quality work experience, and show leadership.
3. Desautels Faculty of Management
The institution is ranked among the best business schools in the world and therefore it is understandable if it features among those offering the most expensive MBA courses. In fact, Financial Times ranked the university #1 in Canada.
This Business School offers leading-edge learning to be able to produce leaders with integrity and have the management skills proper for various disciplines.
The tuition for 2 years of the MBA program is about $89,000.00 for international students. Some of the entry requirements for the program include an application fee (non-refundable), Transcripts, and letters of reference.
4. Queen’s School of Business
The institution offers a 12-month MBA program that starts in January. The program is flexible and greatly personalized to the management education approach that is tailored to your career goals. It is estimated that about 92% of the institution’s graduates are often employed within 6 months after graduation.
Specializations are offered in various areas or disciplines including Healthcare Management, Finance, Marketing and sales, and consulting. There is lifestyle coaching, international exchange, and team-based learning which greatly prepares you for a successful career.
The total fee for the duration of the MBA program is about $88,000.Some of the requirements that should be met include undergraduate education, work experience, and references.