MBA from Canada-Fees, Requirements, Universities, and more!
There are a lot of opportunities available when judging to do a specialisation from abroad; for example, one such question is MBA from Canada fees, requirements, and other details.
However, before we jump into the topic, let us discuss the importance of an MBA from abroad and, specifically, from Canada.
Pursuing an MBA from abroad definitely opens up a lot of opportunities for everyone, especially if you choose to do an MBA from 1st world/developed country.
Top Reasons to Choose Canada for MBA
The benefits of pursuing from developed countries are many and help in providing an environment that is both professionally and intellectually stimulating. I have discussed a few benefits below:
- Higher package: it is a well-known fact that rich countries like Canada have huge capital to invest in their employees and their different ventures, and they would not shy away from giving high packages to skilled individuals. Hence, if you have the required skills, you will be compensated duly. This very well compensates for the somewhat high MBA from Canada fees.
- Huge Scope for Employees: According to Statistics Canada, the number of available job openings throughout Canada reached a record high of 912,600 in the third quarter of 2021, which is definitely good news for pursuing the most in-demand courses in Canada, MBA being one of them.
- Comfortable working hours: the working hours in Canada are very comfortable as most of the employees would be required to work, on average, 40 hours a week. Moreover, according to new research from business consulting firm Robert Half, 48% Of Canada’s employers are comfortable with their employers working when they want, and 31% of employers don’t mind if their employees work fewer than 40 hours a week as long as their work gets done. This is definitely good news for students aspiring to pursue an MBA degree in Canada.
- Intellectual environment: as companies are strict with hiring quality resources, you will find yourself in an intellectually stimulating environment, allowing you to hone your skills. This is good news for those grads who are always on the lookout for a healthy competitive environment to always grow themselves (also known as having a growth mindset).
- Employment Insurance (EI) Program: The Employment Insurance (EI) program provides temporary income support to unemployed workers while they look for employment or to upgrade their skills. The EI program also provides special benefits to workers who take time off work due to specific life events: illness. pregnancy.
Temporary foreign workers (TFWs) can be eligible for Employment Insurance (EI) or the Canada Emergency Response Benefit (CERB). In both cases, temporary foreign workers are subject to the same eligibility criteria as Canadians and permanent residents. Therefore, this feature insulates most of the costs related to the MBA from Canada fees.
MBA from Canada Fees, Cost and Expenses
Canada is a developed country that has a comparatively higher cost of living as compared to India. The average 1-year MBA in Canada fees is 25.96 Lakhs, with the average cost of living being 5.97 lakhs per year. The college fee can be lower subject to the availability of the various scholarship programs.
However, the fairly high MBA from Canada fees is adequately compensated owing to the higher salary package post your MBA. You can easily recover the among after a few years of working.
Students willing to take vocational, professional or academic training in Canada must require a student visa. This permit is issued to students upon entering Canada. However, one must apply for a Temporary Residence Visa issued by the Canadian High Commission which is facilitated by Visa Application Centers. The Canada Student Visa cost is CAD 150.
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MBA in Canada – Eligibility Criteria
Candidates looking to pursue MBA in Canada are required to fulfil these primary requirements:
- Students must have a bachelor’s degree in any disciplinary
- A minimum score of 75% in bachelor’s or equivalent CGPA
- Most universities require GMAT or GRE scores for admission
- For pursuing MBA in Canada, students must appear in English proficiency tests such as IELTS, TOFEL, and PTE; followed by a personal interview conducted by some universities
- 2 -3 years of work experience is mandatory for getting enrolled in various MBA from Canada courses.
Top MBA Universities in Canada
Work Permit after studying MBA in Canada
Obtaining a PGWP (Post-Graduation Work Permit) while studying in Canada is primarily dependent on the subject chosen and the duration of the course. Permission to work under the PGWP is typically granted for the duration of the programme of study. This adequately compensates for the somewhat high MBA from Canada fees. In Canada, the PGWP can last up to three years. It implies that if your post-graduate study is two years long, you will be granted a three-year PGWP visa. A postgraduate work visa is only valid for the duration of the programme. For you to receive a PGWP permit in Canada after an MBA, the training should last at least eight months.
GMAT score is required for MBA in Canada
The required GMAT score range is 550-650. However, there are some colleges in Canada where GMAT is not a mandatory requirement. Also, an MBA from Canada is recognized worldwide. So if you wish to work in India after an MBA from Canada, you can definitely do so. Moreover, you have a chance of getting a higher salary as well if you had an intellectually stimulating classroom experience.
There are many top recruiters that hire MBA grads from top universities in India. The opportunities presented by them, from the work environment to CTC, are immense. Have a look at a few of the recruiters below:
Goldman Sachs, Amazon, American Express, Accenture, Ernst & Young (EY), IBM, McKinsey, Apple, Toyota, Nestle, Google, Citigroup, PWC, Microsoft, KPMG, Deloitte, and many more!
Therefore, the high MBA from Canada fees is easily recovered after a few years of working, with no stress!
This was most of the important information that you needed to know to pursue an MBA in Canada. Contact us for more details or free counselling for getting into top B-schools.
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