Updated on 03-04-2023

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MBA Salary in Canada

Canada is one of the favourable destinations for MBA students and business professionals. It gained this popularity since it offers secured jobs and high-paying career options for MBA graduates. "The average MBA salary in Canada is $70,373 (57.6 lakhs) per year or $36.09 (₹2956) per hour". Finance, IT, Operations, and HR are some of the top-earning MBA specializations in Canada. In this blog, you will find information regarding MBA Salary in Canada.

Universities Offering Good Placements After MBA Degree in Canada

Canada has top reputed universities such as University of Toronto, University of British Columbia, University of Alberta, McGill University, and York University. These well-ranked universities and several other universities are providing globally recognized degrees and good job opportunities for MBA students. And, the salary depends on the university and MBA program you have chosen.

S.no	University Name	Average Salary after MBA graduation
1	University of Toronto	104,622 CAD (INR 64 lakh)
2	University of British Columbia	80,000 CAD (INR 48.9 lakh)
3	University of Alberta	93,000 CAD (INR 56.9 lakh)
4	McGill University	90,500 CAD (INR 55.3 lakh)
5	York University	94,200 CAD (INR 57.6 lakh)
6	Concordia University	87,000 CAD (INR 53.2 lakh)
7	Western University	117,997 CAD (INR 70.40 lakh)
8	Queen’s University	88,270 CAD (INR 54 lakh)
9	Ryerson University	43,000 CAD (INR 26.3 lakh)
10	University of Ottawa	105,000 CAD (INR 64.2 lakh)
11	University of Manitoba	50,661 CAD (INR 31 lakh)
12	University of Victoria	104,000 CAD (INR 63.6 lakh)
13	University of Calgary	56,000 CAD (INR 34.2 lakh)

Best MBA Specializations in Canada

Canadian universities offer more than 55 MBA programs. The specialization in MBA must be chosen based on factors such as scope, job opportunities, job market, and typical salary packages provided after graduation. In the table below, you will find the MBA specialization, area of study, Job titles, and Best universities to study.

best-mba-specialization-average-salary-bar-chart

MBA Specialization	Area of Study	Job Titles	Average salary	Best Universities to Study
MBA in Human Resource	Human Resource Management is focused on recruitment, employee engagement, compensation and benefits, employee relations, and training and development.	Human Resource Manager, Human Resources Officer, Chief people officer, Recruiting Manager, Human Resources Training Executive, Human Resources Advisor	The average salary falls between 74,000 CAD - 178,000 CAD ( INR 45,28,618 - 1,09,09,281) on a yearly basis	University of Alberta, University of British Columbia, University of Toronto, McMaster University
MBA in Finance	Financial management majorly has 3 subdivisions, banking, investments, and corporate finance. It focuses on areas like capital, money markets, accounting, banking, and insurance.	Financial Analyst, Corporate Treasurer, Financial Manager, Chief financial Officer, General Manager	The average salary of MBA finance graduates is around 90,000 CAD (INR 55 lakh) per year.	University of Alberta, University of Calgary, University of Toronto
MBA in Information Technology	MBA in Information Technology centred around information security, programming, analytics, machine learning, artificial intelligence, and various technologies.	Business analyst, IT Management Consultant, IT Architect, Data Processing Manager, Product Manager	The average salary of the students studied in MBA (IT) falls between 80,000 CAD - 120,000 CAD ( INR 48.9 lakh - 73.4 lakh) per year.	University of Alberta, University of British Columbia, University of Toronto, Concordia University, York University, McGill University
MBA in Operations Management	This specialization is primarily involved in planning, organizing, supervising the production flow and improve the productivity of the company.	Operations Manager, Operations analyst, Business operations associate, Chief operating officer	The average salary of professionals of Operations Management is 110,368 CAD (67.5 lakh) per year.	Queen’s University, McGill University, University of British Columbia, Concordia University
MBA in Marketing	MBA in Marketing focused on the areas such as marketing strategies, market research, leadership skills, customer service, revenue generation.	Marketing Executive, Marketing Manager, Marketing Analyst, Chief Marketing Officer, Market Development Manager	The average salary of MBA In Marketing Graduates is roughly 96,000 CAD ( INR 58.7 lakh) per year.	University of Toronto, University of British Columbia, University of Alberta, Concordia University, Queen’s University
MBA in International Business	This specialisation focused on understanding the foreign markets, conducting research and determining their performance.	Business Analyst, Business Development Manager, Project Manager, General Manager, Business Consultant	The average salary of an IB professional in Canada is around 84,000 CAD (51.4 lakh) per year.	University of Toronto, University of Alberta, University of Montreal, Concordia University, Queen’s University, York University
MBA in logistics and supply chain	It involves planning, organising, controlling the storage and flow of the goods and services from origin to the consumption.	Supply Chain Manager, International Logistics Manager, Procurement Project leader	The average salary of the graduates in MBA in logistics and supply management is around 77781 CAD (INR 47.6 lakh) per year.	York University, University of Montreal, University of British Columbia, Concordia University
MBA in Healthcare	This specialisation combines core management skills with healthcare ethics. This industry is growing rapidly and private hospitals are giving rewarding opportunities.	Hospital Manager, Healthcare Associate, Hospital Administrator, Health Operations Executive	The average earnings of students graduated in MBA (Healthcare) is 80,000 CAD to 120,000 CAD (INR 48.9 lakh - 73.4 lakh) per year.	University of Toronto, Queen’s University, McGill University, University of British Columbia
MBA in Data Science	MBA in Data Science focused on the topics like Database Systems, Distributed Systems, Probabilistic Reasoning. Professional of MBA in Data Science interprets the data, processes it and creates data models.	Data Analyst, Business Analyst, Technical Team lead	The average salary of MBA Data Science professionals is 80,540 CAD (INR 49.2 lakh).	University of Montreal, University of Alberta, University of Toronto, University of British Columbia, York University

Top Resources about Canada

Highest Paying MBA Industries in Canada

1. Finance

Finance industry ranked at the top in terms of salary in Canada. It is one of the largest private sector contributors to GDP in Canada. The average salary of Finance professionals is 65,834 CAD annually. The top financial sector companies in Canada are Royal bank of Canada, Toronto-Dominion Bank, Brookfield Asset Management Inc, Bank of Montreal.

2. Consulting

According to IBISWorld, In 2023, the market size of the Consulting Industry in Canada, based on revenue, is $19.2billion. The average salary of Consulting professionals in Canada is 83,700 CAD per year. Some of the top consulting firms in Canada are Deloitte, EY, KPMG, McKinsey & Company.

3. Technology

There are over 45,000 IT Companies in Canada. Technology industry is continuing to grow and attract lots of talents. The mean salary of technology professionals is 76,048 CAD per year. Some of the good companies in the technology sector in Canada are Nobul, Certn, Bloomcare Solutions Inc, Mistplay.

11 Career Options after studied an MBA in Canada

Canada is one of the powerful countries in the world in terms of economy. MBA graduates from Canadian universities are hired by top business organizations such as Apple Inc, Microsoft, Google, Accenture, Infosys, Morgan Stanley, Deloitte, McKinsey, EY, KPMG, HCL Technologies. Know about the profitable career option after MBA, which we have listed below.

1. Financial Analyst

Financial analyst focuses on analysing the financial situation of the company and developing strategic solutions to improve the company’s financial health. They are involved in financial operations, budgets, risks, and capital planning. They can be employed for insurance companies, banks, stockbrokers, mutual or retirement fund brokers. The average salary of the financial analyst is 66,687 CAD (INR 40.7 lakh) per year.

2. Financial Manager

To become a financial manager, you are required to study MBA in Finance. The role of a financial manager is to plan, organize and evaluate the operations of financial and accounting departments. Financial managers’ average salary in Canada is 94,437 CAD (INR 57.7 lakh) on a yearly basis.

3. Marketing Analyst

You can study MBA in Marketing to become a Marketing Analyst. The Marketing professionals focus on gathering data related to market conditions and demographics of the consumer. And, they analyze the data to create strategies, campaigns and other marketing activities. The average salary of a Marketing Analyst in Canada is 54,845 CAD, annually.

4. Recruitment Specialist

The role of recruitment specialists is to identify the staff requirements and recruit the appropriate employees. They maintain the entire life cycle of an employee, including sourcing, screening, recruitment, joining, onboarding, and exit formalities. In Canada, the average salary of recruitment specialists is 54,551 CAD per year.

5. Sales Manager

Sales Managers are responsible for business development, market research, team handling, and revenue generation. They focused on sales operations, establishing the organisational policies and procedures in relation to sales. The average salary of a sales manager in Canada is 74,085 CAD.

6. Operations Manager

Operations manager involved in managing the production of goods and services. They formulates strategy, improves performance, procures resources and ensures compliance. The average salary of a sales manager in Canada is 78,962 CAD.

7. Human Resource Director

The job of HR Director is to develop recruitment policies, strategies, and various organizational rules and regulations. They also manage training, employee development, classification of job titles, and salary brackets. The average earnings of a human resource director in Canada is 110,000 CAD per year.

8. Marketing Coordinator

The Marketing coordinator is responsible for coordinating the sales team and marketing analyst to track the sales and revenue of the company. They also work with the sales team and marketing department to achieve the marketing objectives. The average salary of a marketing coordinator in Canada is 53,599 CAD per year.

9. Business Consultant

The students who graduated with MBA in International Business can become Business Consultant. These professionals analyze the data and with the help of their own expertise, they give suggestions for improving strategic direction and reducing inefficiency and waste. The average salary of a business consultant in Canada is 74,412 CAD per year.

10. Data Scientist

A Data Scientist strives to achieve the companies’ objectives and goals by integrating the computer science, statistics, modelling, analytics, and math skills. The Data scientist in Canada earns 89,216 CAD per year on an average.

11. IT Consultant

This career option is considered to be a promising one in Canada. These professionals analyse the system requirements and develop the information systems and provide advice on a wide range of IT systems. The average salary of IT Consultants in Canada is 78,305 CAD.

ROI of Pursuing MBA in Canada

Considering ROI (Return on Investment) before investing on education is important to determine its worth. The major investment to pursue MBA in Canada is tuition fees and the cost of living consists of accommodation, food, books, laptop, transportation, personal expenses, etc. The amount of effort and time you are putting in is also an investment.

The annual tuition fees for MBA studies in Canada falls between 30,000 CAD - 40,000 CAD on average. And, the average salary of MBA graduates is 64,440 CAD per year. Comparing the tuition fees and average earnings tells us that it is worthwhile to invest in MBA education. And, the effort and time you invest will benefit you in the long run.

Conclusion

You can make an informed decision with the help of our “MBA Salary in Canada” blog. Since, we laid out the best universities, MBA specialisations, and career options, you can easily choose the preferred MBA career path. Choosing an MBA degree to study is a good investment in Canada.

Frequently Asked Questions

1. What are the top cities in Canada to earn well with an MBA Degree ?

The major hotspots in Canada for getting jobs after an MBA degree are Toronto, Vancouver, and Montreal

2. Which MBA is highly paid in Canada?

In MBA, Finance is the highest paying industry in Canada.

3. How much can an Indian MBA earn in Canada?

The average starting salary for an Indian MBA graduate in Canada is Rs. 2-3 lakh per year.

4. Is Canada worth for MBA?

Canada has the best job opportunities and lucrative salaries for MBA graduates. Also, it has top universities for management studies, which can help you to attain top level positions in business organizations.

5. Will I get PR after MBA in Canada?

As the MBA course duration is two years, you will have a work permit of 3 years in Canada. You can work and live in Canada without legal complications since you have a work permit of 3 years. In these working years, you can apply for Canada Permanent Residency as you have a number of years working experience.

About Author Dinesh Pandiyan

Dinesh is a highly experienced content writer who specializes in language proficiency tests like IELTS, GRE, PTE, TOEFL, and study abroad. He provides valuable insights and tips to students on various modules of these tests, including reading, writing, speaking, and listening. His articles are well-researched, informative, and engaging, offering practical guidance to students looking to succeed in their academic pursuits. Additionally, Dinesh has coordinated with IELTS trainers to prepare test preparation materials, guides, practice tests, and mock tests, and worked closely with counsellors for study abroad consultancy, providing guidance on choosing the right institution, preparing for interviews, and writing effective statements of purpose (SOP) and letters of recommendation (LOR). Students can benefit from Dinesh's comprehensive knowledge and experience by checking out his articles.

About Kanan International

Kanan International is an IRCC-certified study abroad consultancy that offers reliable services, products, and solutions for students and education institutions. We support students throughout their study abroad journey, ensuring a hassle-free experience. Our expertise and commitment to excellence make us the go-to partner for expanding global horizons. The company provides coaching for IELTS, GRE, TOEFL, and SAT exams and services like visa consultation, accommodation, scholarship assistance, and education loans.

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