MBA (or Master of Business Administration) is a course that requires important future investment since it will prepare you for more than just analysing a spreadsheet or leading a team. It is a program that can open doors to a whole new world of opportunities. With Canadian MBA programs aiming to develop the necessary skills required to successfully deal with real-world business challenges, pursuing MBA in Canada can be a life-changer.
MBA in Canada receives applications in extraordinarily huge amounts from aspiring international business students. The popularity of Canada as an international study destination is overpowering. Its high-quality education which tags along with immigrant-friendly policies makes Canada rank among the top 10 destinations to study MBA abroad.
Additionally, universities and business schools in Canada offer a wide variety of MBA programs such as MBA in International Business, MBA in Community Economic Development, Executive MBA in Canada, MBA in Finance, MBA in Global Management, etc. Admission to MBA in Canada requires its international applicants to have a competitive GPA of around 80% or more and GMAT scores of 550 to 650 (depending on the choice of university).
Why study MBA in Canada?
Growing financial sector: The financial services sector is quite strong in Canada. It grew around 11.6% in the past decade, shows that MBA graduates have higher employment opportunities in the sector in Canada.
World ranked institutions: As per QS MBA Rankings (2020), Nine Canadian universities are ranked in the top 150 global universities for MBA.
Promising course option: A Canadian business degree is counted among the top 10 subjects with the highest graduate salaries.
Good job opportunities after completion of studies : With the Canadian government encouraging various SMEs and start-ups to build themselves, there are increased work opportunities for MBA graduates.
Student friendly destination : With friendly work policies, Canada is highly preferred by all international students who desire to settle with a work permit.
Study options to get MBA degree in Canada
The Canadian institutions offer different types of MBA degrees to befit the interests, needs and requirements of several international students. Types MBA degrees in Canada are listed below.
- Part-time MBA: Part-time MBA program is more fitted for working professionals who plan to complete their degree while working part-time. It is slightly for a longer duration as compared to a full-time MBA.
- Full-Time MBA:The duration of Full-Time MBA program is one-two years where the students can choose to study full-time. It’s required to understand the diversity of the Canadian workforce and let the student successfully enter the job market as a leader.
- International MBA (IMBA): In this, international students are exposed to global experiences via international field study, integrated curriculum, global courses, many other modes. The duration of the program is usually 20-28 months. This brings the business awareness from some of the top world-class faculty with an opportunity to work with the global industry leaders.
- Executive MBA:Executive MBA is designed for students who plan to work while studying and want to gain practical corporate knowledge along with classroom experience. Generally, the duration of the program is 13 months and results in manifold personal and professional growth.
International students can also plan for joint MBA degrees i.e., a combination of engineering , pharmacy, law with global affairs and dual degrees i.e., MBA or Joint degree or MBA/MFA/MA) in Canada.
Application Process for MBA in Canada
Documents required for the application process:
- Bachelor’s degree from a recognized university or education institution.
- Graduate Management Admissions Test GMAT test scores
- English language proficiency test like (TOEFL/IELTS) scores. Average IELTS score range – 6.5 – 7.0 with no band less than 6.0 TOEFL score range – 100 with a minimum score of 20 in each section
- Bank statements and financial documents.
- Documents highlighting previous relevant work experience.
- Letter of recommendationsfrom your existing and previous supervisors. It can be your current and previous managers/supervisors and your graduate faculty who have judged your work closely.
- Admission interview – Admission Essayor Statement of Purpose is one of the key elements of the application. This helps the admissions committee to evaluate the aspirant.
- Community work and Extracurricular Activities.
- Documents related to visa.
Requirements for studying MBA in Canada
GMAT: Every college has a different GMAT score requirement. So, you have a target score before planning for the GMAT test. A good GMAT score is required to get into a top college/University to pursue an MBA program in Canada. Most universities require candidates to submit a GMAT score to get an admission. You need to visit the official GMAT website and register for the test. While registering for their GMAT, applicants should keep in mind the following –
- Application deadlines of the MBA program of their choice
- The time needed by them to prepare for the examination
- It is also recommended that applicants register two to three months before their preferred test date. However, they can also register up to six months in advance.
Job experience: The candidate must have suitable work experience as universities give preference to those who has job experience. It is not a compulsory requirement, however, it gives an edge to the aspirants over others.
Bachelor’s degree: The candidate must have a bachelor’s degree from a recognized institution/University.
English Language Mastery : If the candidates belong to a non-native English-speaking country then they need to prove their English language skills. They need to secure a good IELTS or TOEFL score for getting an admission for MBA in Canada.
MBA Admissions in Canada
Preferably, applicants should begin preparing for admissions to MBA in Canada at least two years before the actual joining year. This will give them enough time to research Business Schools, up their resume, work on GMAT and other tests required for MBA admissions in Canada. However, even if that’s not possible, prospective applicants should at least start their preparations a year before.
Roadmap to get Admission for MBA in Canada
2 years before Applying and Research and shortlist Business Schools in Canada as follows-
- September to December– Note down Admission requirements and consider your inadequacy.
- January– Register for GMAT.
- January to April– Prepare for GMAT/GRE and also IELTS or TOEFL (If required)
- April (5 months before Round 1 Application)– Appear for GMAT examination and IELTS or TOEFL
- April to May– Retake GMAT/IELTS/TOEFL of required
- May to July– Begin preparing Statement of Personal Essays/Cover Letter/Resumes/ Purpose. Also, look for references to write LOR
- August– Revise all documents and make sure that all information is correct.
- September – October– Apply for Round 1/Ensure that recommendations were sent on time.
- October – November– If selected, prepare for interviews
- November – December– Give Interview and receive an acceptance letter
- December to January– Prepare and apply for round 2 admissions.
- February– If selected, prepare for interviews.
- March– If offer letters received from multiple Business Schools, decide where to study and notify the University.
- March-April – Pay the deposit fee, Receive Confirmation of Enrolment and apply for a Canadian Student Visa.Also, check for scholarships.
- May– Schedule a Visa Interview
- June to August– If you receive your Visa, make preparations to leave for Canada
MBA in Canada without GMAT
Aspirants who want to apply for a Master of Business Administration in Canada can get admitted without GMAT scores. However, this option applies to those with other qualifications that show excellent academic and professional achievement, thus exceeding the need for the GMAT.
On the other hand, some universities may require GRE scores or other entrance exams instead of the GMAT.
Every year business schools in Canada receive a huge number of applications from international students looking for MBA courses. Major requirements for their admission include GMAT scores, IELTS/TOEFL scores, work experience, letter of recommendation, statement of purpose, CV, etc. Very few universities offer MBA in Canada without GMAT. They consider other factors especially work experience as important eligibility criteria for admission.
A number of top business schools offering MBA in Canada without GMAT score is limited but includes some of the top-ranking institutes such as York University’s Schulich School of Business and McMaster University’s Degroote School of Business. This particularly helps those students who either are unable to score cut-offs set by the universities or altogether do not take the test due to the intensity and intricacies involved.
Steps to Get admission in MBA in Canada without GMAT
Each university has a particular set of requirements that must be fulfilled by international students to get into an MBA program without GMAT scores. Some of the common requirements that can help you get into MBA in Canada without GMAT are as follows:
- Good GPA in Bachelors: Having higher GPA scores than what is the minimum requirement of a university always works in support of students with low GMAT scores or even those who do not have GMAT scores.
- Exatraordinary CV: An extraordinary CV detailing your paid internships during bachelors, your post-bachelor degree roles including and highlighting on your skills can help you get admissions into MBA in Canada without GMAT.
- Job Experience: Work experience of more than 3 years (usually around 5 years) helps students to get into MBA in Canada without GMAT scores. It also benefits students who have completed a three years bachelor’s degree instead of a four-year degree which is usually required to get into MBA courses.
- Letters of Recommendation: Getting good Letter of Recommendation from your previous recruiters (at least 2-3) can help students get into the best universities in Canada.
Advantages of pursuing MBA in Canada
MBA is helpful for those who wants to gain management skills within a business environment. With good MBA degree, student can learn ways to manage businesses more effectively. Companies also prefer the professionals who has the ability to solve complex issues in a difficult business environment and great communication skills to overtake leadership roles
Advantages pursuing MBA from Canada are:
- Business programs offered by Canadian institutes uplifts the careers of the MBA professionals, thus eventually increasing their earning potential.
- The MBA degree absorbs real-world knowledge, so, the MBA professionals get to learn numerous variation of the business world.
- The internship programs help the students to get the perception of the industry.
- Admission and visa process is simple.
- Education Colleges/ institutes in Canada offer globally recognized degrees at an affordable cost.
- Canada is a multicultural country, which means that you will study alongside students from different cultures. This will enable you to broaden your cultural perspective of business and management.
- The cost of studying MBA in Canada is more affordable compared to other countries
- An MBA degree from Canadian institution is internationally recognized, and it will enhance your career possibility and earnings potentials
- Canadian business schools offer internship opportunities to help students gain industry experience while studying their MBA degree
Career prospects after completion of MBA in Canada
Some of the most popular after MBA in Canada are Financial management, Operations Manager, Marketing Manager, Business Analyst, Investment Analyst, Business Development Manager.
After completing MBA in Canada, International students can get a work permit of upto 3 years. The 3 years work permit leads to the path of permanent residency. One major characteristic of the job market I Canada is that the Canadian firms are relatively small. Studying and working in Canada has various advantages for international students, getting work visa in Canada is rather simple when compared to other developed countries.
Popular MBA jobs in Canada are the same as other countries with executive-level positions offering the highest salary. The only difference is that this country’s job market is dominated by SMEs. These SMEs are recorded to create around 150,000 jobs each year in the country which ensures there is no lack of job opportunities to explore. Hence, graduates with an MBA in Canada will get more opportunities to work in small and medium-sized organizations over MNCs. Among some of the key markets MBA jobs in Canada are Toronto, Montreal, and Vancouver.
Similarly, among the higher employment rates are the finance and consulting jobs that can pay you up to 250,000 CAD a year (with experience). Small and medium-sized enterprises (SMEs) are the biggest hiring sectors of business school graduates. Graduates who undergo any specific training in the management sector and are willing to explore further learning and exposure opportunities are preferred over others.
Finance and Consulting entities remain the major recruiters of MBA students. This is why many international students prefer to pursue MBA in Finance in Canada. With Technology sector at an all-time high, technology-based firms offer the most alluring career choices to MBA graduates. MBA graduates who successfully complete a two-year master’s program from a Canadian university are entitled to receive a three-year work permit to work in Canada and draw an indicative average salary. Nevertheless, Students decision regarding jobs after completion of an MBA in Canada is heavily determined.
The salary of MBA graduates in Canada differs completely on the specialisation they have pursued and their job role. The sum of salary paid to an individual in the field also depends upon the province they are located in, each province slightly differ in the amount they provide to an MBA individual contrast to other province.
Selecting a university to study MBA in Canada can be a bit monotonous task. Here are some of the key factors to consider while selecting the right university for your MBA in Canada:-
- International student friendly destination –Select a university which has a well-planned structure for international students that includes accommodation help, orientation to the university and other advice services.
- Advance quality education –Make sure the university you select has academic excellence and offers high quality education with excellent teaching standards.
- Cost of studying MBA –Take into account the cost of MBA programs as it varies from university to university.
- Location –Analyse the location of the university and its nearby area as you will be staying there for a substantial period of time.