MBA in Canada: Universities, Cost, Eligibility, Scholarships

Pursuing a Master of Business Administration (MBA) in Canada provides a high return on investment, affordable education, and excellent job prospects making it one of the most sought-after programs. According to QS Global MBA Rankings 2025, top MBA colleges in Canada include Rotman School of Management, Desautels Faculty of Management, Ivey Business School, Smith School of Business, and Schulich School of Business. International students can pursue some of the popular MBA specializations in Canadian universities including General Management, International Business, Finance, Entrepreneurship, Supply Chain, and Economics. Canada's MBA programs come in various formats, including full-time, part-time, and accelerated one-year MBAs. The cost of an MBA in Canada ranges between CAD 20,000 to CAD 130,000 (approximately INR 16 lakhs to INR 78.68 lakhs).

To pursue an MBA from a top university in Canada, an average GMAT score of 550-720 is typically required. MBA Graduates often secure employment with top companies like Deloitte, EY, PwC, Accenture, Amazon, and Capital One, earning an average annual salary of 86,000 CAD (INR 52.4 lakhs). Additionally, Canadian business schools offer co-op programs and internships to provide industry experience during the MBA program.

Top 10 MBA colleges in Canada 2025

According to QS Global MBA Ranking 2025, 23 Canadian Business Schools have secured top positions globally. Find the below table to know the top universities in Canada that offer excellent MBA programs at an affordable cost.

QS Global MBA Ranking 2025	Universities/Business School
1	Toronto (Rotman School of Management)
2	McGill (Desautels Faculty of Management)
3	Western (Ivey Business School)
4	Queen’s (Smith School of Business)
=5	UBC (Sauder School of Business)
=5	York (Schulich School of Business)
7	Alberta School of Business
8	Concordia (John Molson)
=9	HEC Montréal
=9	McMaster (DeGroote School of Business)

1. Rotman School of Management

At Rotman School of Management, you are able to do a full-time MBA, morning & evening MBA, and 1-year executive MBA. You can opt for a specialization such as brand management, business design, consulting, financial reporting & analysis, etc. Check the below table to know the requirement.

University Type	Public
QS Global MBA Ranking 2025	39
Fees	$138,441
Requirement	Bachelor's degree, or its equivalent, with a final year average of at least mid-B from a recognized university with a minimum GPA of 3.0 GMAT or GRE score minimum of two years of full-time work experience Essay and video interview References TOEFL iBT - 100 overall, minimum 22 IELTS - 7.0 overall, 6.5 each Interview
Scholarship	Joseph L. Rotman Scholarship - Full Tuition Value The Rotman Family Healthcare Scholarship Entrance Awards - $10,000 to $90,000 Business Design Initiative (BDI) Scholarship 30% Club Full-Time MBA Scholarship Skoll/MBA awards- $10,000 to $30,000 Rotman African and Caribbean Business Club (RACBC) Scholarship -$20,000 Black Student Leader Award - $25,000 Indigenous Student Leader Award - $25,000 Diversity & Inclusion Award - $10,000 Awards for In-Program Students Rotman Scholar Awards Graduate Studies Awards Ontario Graduate Scholarships - $10,000 to $15,000 Scotiabank Latin America Scholarship - $25,000.00 CIBC BASc / MBA Scholarships

2. Desautels Faculty of Management, McGill University

McGill University is consistently ranked in the top for their MBA programs. Before applying to the Desautels Faculty of Management, know the MBA programs offered by them. They have curricular options such as full-time MBA, executive MBA, and MBA law. Check out the below table.

University Type	Public
QS Global MBA Ranking 2025	66
Fees	$99,500
Requirement	2 years minimum of relevant full-time post-graduate work experience Transcripts GMAT or GRE TOEFL or IELTS Essay Letter of reference
Scholarship	Adam Dinkes MBA Leadership Award - $10,000 Duerksen MBA Leadership Award - $10,000 Daniel Galvao MBA Leadership Award - $10,000 Dominic K.M. Lai MBA Fellowship Rio Tinto - Richard Evans Graduate Fellowships - Up to $20,000

3. Ivey Business School

At Ivey Business School students can enroll for full-time MBA, accelerated MBA, or executive MBA. 92% of MBA students seeking employment received at least 1 job offer within 3 months of graduation. Know the key information from the below table to join this business school.

University Type	Public
QS Global MBA Ranking 2025	76
Fees	$123,500
Requirement	Transcripts from all post-secondary institutions GMAT or GRE score Resume demonstrating a minimum of two years, full-time work experience. TOEFL or IELTS score Two professional references. Online application including completion of two required written essay questions and two required video questions. Application fee of $150 CAD
Scholarship	MBA Indigenous Entrance Scholarship - up to $10,000 Rise Awards in Resilient Leadership for Indigenous Students (MBA) - $22,500

4. Smith School of Business at Queen's University

Taking MBA programs at Smith School of Business will help you to improve your technical skills and management skills. You have the choice to customize your MBA program. $135,856 is the average compensation of Smith MBA graduates. Know the fees, requirements, and others from the below table.

University Type	Public
QS Global MBA Ranking 2025	91
Fees	$105,100
Requirement	Application form Resume Transcripts GMAT or GRE IELTS (7 overall) or TOEFL iBT 100 Cover letter 2 professional references 2 Video questions 1 written response Personal interview
Scholarship	General entrance scholarships - $10,000 to $70,000 Named scholarships Fellowships - $5,000 to $20,000

5. UBC Sauder School of Business

UBC Sauder School of Business MBA program involves four specializations. The specialization includes technology and analytics leadership, finance, product and service management, innovation and entrepreneurship. You can also choose the customized MBA program. Check the below requirements to enroll.

University Type	Public
QS Global MBA Ranking 2025	101-110
Fees	$94,559
Requirement	Three or four-year Bachelor's degree with a B+ average or recognized equivalent from an accredited institution. Transcripts 550 GMAT with at least 50 in the quantitative and verbal sections 155 GRE score on both the verbal and quantitative sections IELTS - 7 overall or TOEFL iBT - 100 or PTE - 70 Minimum two years of full-time work experience Two references
Scholarship	Early entrance scholarships - $1,500 Regional top talent scholarships Hoegg family MBA scholarship - $25,000 Hari Varshney MBA entrance scholarships - Up to 50% of tuition fees Madhu Varshney MBA entrance scholarships - Up to 50% of tuition fees International Talent Scholarships - $10,000 - $60,000 Dean’s excellence in diversity awards - $10,000 - $60,000

 

6. Schulich School of Business

Schulich School of Business is awarded the No.1 position by Forbes, Economist, Corporate Knights, and CNN Expansion for its quality MBA program. If you want to join the Schulich School of Business, then you need to fulfill some of the requirements that are mentioned below:

University Type	Public
QS Global MBA Ranking 2025	101-110
Fees	$28,057
Requirement	An undergraduate degree from a recognized post-secondary institution with a minimum B average in the last two full years (or equivalent) of academic work. GMAT or GRE score Minimum two years of relevant post-degree, full-time work experience, or life experience Essays (2 written, 1 timed written, 2 videos) Resume Two references Transcripts IELTS Academic - overall 7.0, minimum 6.5 each TOEFL iBT - 100, minimum 23 each
Scholarship	Robert Krembil Scholarship of Merit - $40,000 Robert Krembil Scholarship of Merit: Health Industry Management Program (HIMP) - $40,000 The Goldberg Leadership Award of Excellence - $40,000 Seymour Schulich MBA Entrance Scholarship -$27,104 Tanna H. Schulich MBA Entrance Scholarship - $27,104 The Gary Whitelaw Strength in Diversity Award - $25,000 Heather L. Main Scholarship (Women in Capital Markets) - $25,000 Scotiabank Scholarship in International Business - $20,000

7. Alberta School of Business

Alberta School of Business offers MBA programs such as full-time, part-time, executive, fast-track, energy, and online. The duration and the requirements of these programs vary. To know the details of the full-time MBA program check below.

University Type	Public research university
QS Global MBA Ranking 2025	131-140
Fees	$60,000
Requirement	Recognized undergraduate degree with GPA of at least 3.0 GMAT or GRE score English Language Proficiency for Non-native English speakers Professional work experience Statement of Intent letter Two letters of reference Admissions interviews
Scholarship	Entrance Awards - upto $15,000 UAlberta MBA Scholarships MBA Scholarship Committee

8. John Molson School of Business

John Molson’s MBA program makes international students gain hands-on experience by offering case competitions, case studies, internships, networking opportunities, and a lot more. To get benefited from the program you need to know the eligibility given in the table below.

University Type	Public
QS Global MBA Ranking 2025	141-150
Fees	$47,900
Requirement	A minimum of two years full-time work experience is required Undergraduate degree in any discipline with a minimum cumulative GPA of 3.0 GMAT score of 580 or above TOEFL iBT: 95 overall with no band below 20 Academic IELTS: 7.0 overall with no band below 6.5 Statement of purpose Three letters of reference A video interview Application fee ($100 CAD)
Scholarship	Hardeep Grewal MBA Scholarship Endowment (Award details TBA) Richard Joly MBA Scholarship for Indigenous Students (NEW) Bank of Montreal - Pauline Vanier MBA Fellowship Bessie Schulich MBA Fellowship for Entrepreneurship Michael Murray MBA Entrance Award Robert J. Briscoe MBA Award Scotiabank MBA in-course Fellowship

9. HEC Montreal

HEC Montreal MBA graduates have a record of an average of 98% employment rate. The average total salary of the graduates of HEC Montreal is $99,121. Enroll in the HEC Montreal MBA program by knowing the below information.

University Type	Public
QS Global MBA Ranking 2025	151-200
Fees	$59 000
Requirement	Have an undergraduate degree. Have at least 3 years of full-time professional experience at the start of the program (not including internships). Pass one of the admission tests: GMAT (minimum: 570) GRE (score equivalent to that of the GMAT) IELTS (7, 7.5 or 8) or TOEFL iBT (95-114)
Scholarship	Admission scholarships are awarded to applicants demonstrating exceptional aptitudes and an outstanding academic record.

10. DeGroote School of Business

The DeGroote School of Business, part of McMaster University, is recognized as one of Canada's leading institutions for undergraduate and postgraduate programs. It attracts students by offering a top-tier MBA program that emphasizes practical knowledge. DeGroote provides both full-time and online MBA programs with a course duration of 20 months.

University Type	Public
QS Global MBA Ranking 2025	151-200
Fees	CAD 67,014
Requirement	Completion of an Honours Bachelor’s degree from a recognized university. 1 year of post-graduate work experience is required. Recommended B average (equivalent to a McMaster 8.0 GPA out of 12) or higher. GMAT is required for application to the Full-Time MBA program Acceptable English Language Proficiency Tests: Academic IELTS (Overall score of 7) TOEFL (Overall score of 100) Two (2) references Online interview Resume
Scholarship	Global Business Scholar I Award Global Business Scholar II Award DeGroote School of Business Dean’s Global Excellence Award

Cheapest MBA Colleges in Canada

International students who wish to study in Canada can pursue an MBA at a cheaper cost. Check the list below to know the cheapest MBA colleges in Canada.

• Memorial University of Newfoundland - $36,947
• University of Saskatchewan - $68,190
• University of Ottawa - $68,000
• Concordia University - $47,900
• Simon Fraser University - CAD 63,320
• University of Calgary - $25,293
• Vancouver Island University - CAD 51,408
• University of New Brunswick - 7 lakhs
• University of Northern British Columbia - 13 lakhs
• Thompson Rivers University - 14 lakhs
• University of Alberta - 5 lakhs
• Trinity Western University - 12 lakhs
• University of Guelph - 8.8 lakhs

Top MBA Specializations in Canada

Universities in Canada offer a wide range of specializations for international students to choose from. Here are some of the top MBA programs in Canada that has great career prospects.

• MBA in General Management
• MBA in Entrepreneurship
• MBA in Finance
• MBA in Economics
• MBA in Supply Chain
• MBA in Marketing
• MBA in HR
• MBA in Supply Chain Management
• MBA in International Business
• MBA in Business Analytics
• MBA in Operations Management

Check: Highest Paying MBA Specialization

Cost of studying MBA in Canada

The cost of studying MBA in Canada ranges between CAD 20,000 to CAD 50,000 per year, with some top colleges charging up to CAD 75,000. The average cost of first-year MBA in Canada is approximately INR 25.96 lakhs. The typical MBA program lasts two years, so it's crucial to budget for the full duration. Additionally, living expenses in Canada are about CAD 10,000 per year, though this can vary depending on the college location and housing options. It's important to consider the living expenses such as accommodation, food, transport, and other costs.

Given the high demand for MBA programs in Canada, securing admission to more affordable universities can be competitive. Therefore, timely preparation of documentation and scholarship applications is essential as well as the budgeting required for pursuing an MBA in Canada.

Also read: Cost of MBA in Canada

Eligibility Criteria to study MBA in Canada

Candidates looking to pursue an MBA in Canada must fulfill the following primary requirements:

• Bachelor's Degree: Must have a bachelor's degree in any discipline from a recognized university.
• Minimum Academic Score: A minimum score of 75% in bachelor's or an equivalent CGPA, or a GPA of 3.0.
• GMAT/GRE Scores: Most universities require a competitive GMAT score of 550+ or an equivalent GRE score.
• English Proficiency Tests: Must appear in English proficiency tests such as IELTS (minimum score of 7.0) or TOEFL iBT (minimum score of 100), PTE.
• Work Experience: 2-3 years of relevant work experience is mandatory for most Canadian universities.
• Statement of Purpose (SOP) or Personal Essay (500-1000 words)
• Up to 3 Letters of Recommendation (LORs) including academic and professional LORs
• Curriculum Vitae (CV) or Resume
• Transcripts of academic records
• Proof of funding options
• Admission Interview: Some universities require a personal interview as part of the admission process.
• Canada Student Visa: Necessary for international students to study in Canada.

MBA Scholarships in Canada

Indian students have access to numerous scholarships to study in Canada. Aspirants seeking MBA scholarships to study in Canada can explore the list given in the table below.

Ontario Trillium Scholarship	40,000 CAD
Ontario Graduate Scholarship	5,000 CAD per session (10,000 CAD for 2 sessions or 15,000 CAD for 3 consecutive sessions)
Rotary Foundation Scholarships	41,360 to 551,570 CAD
BrokerFish International Student Scholarship	1,000 USD
Schulich School Of Business Scholarships	INR 15.7L – INR 25L
Alberta MBA Scholarships	INR 62,800 – INR 6L
Rotman School Of Management Scholarships	INR 15.7L – INR 25L
Ivey MBA Scholarships In Canada	INR 6L
Sauder School Of Business Scholarships	INR 6L – INR 25L

Read: Scholarship in Canada for Indian Students

Job opportunities after studying MBA in Canada

The average MBA salary in Canada is $70,373 (57.6 lakhs) per year. University of Toronto, McGill University, Western University, and UBC are some of the top universities offering opportunities for students to get high MBA salaries in Canada. Check the table below to know some of the highest-paying job roles and its salary.

Jobs after MBA in Canada	Average Annual Salary
Project Manager	INR 49,33,402
Chief Executive Officer (CEO)	INR 88,65,464
Management Consultant	INR 49,90,658
Operation Analyst	INR 34L
Marketing Executive	INR 35L
Marketing Analyst	INR 40L
Financial Analyst	INR 42L
Marketing Manager	INR 43L
Human Resource Officer	INR 43L
Business Analyst	INR 45.5L
Supply Chain Manager	INR 51.5L
Operations Manager	INR 52L
Human Resource Manager	INR 62L
Data Analyst	INR 55L

Top recruiters hiring MBA graduates in Canada

Canada is home to numerous multinational corporations and an immigrant-friendly nation, making it one of the best places to work after completing an MBA. Graduates often secure employment with top companies such as Deloitte, EY, PwC, Accenture, Amazon, Capital One, and Scotiabank. Check the table below for the top employers recruiting MBA graduates in Canada along with the salary.

Employer	Average Annual Salary (CAD)	Average Annual Salary (INR)
Goldman Sachs	90,865	55.73 lakhs
Amazon	142,200	87.17 lakhs
HSBC	105,693	64.79 lakhs
RBC Asset Management	114,340	70.09 lakhs
KPMG, LLP	138,157	84.68 lakhs
EY	55,276	33.88 lakhs

Work permit after MBA in Canada

A Canadian work permit allows international students to stay and work full-time in Canada for up to four years after completing their postgraduate degree. You can apply for the PGWP in Canada within 180 days after receiving your final academic scores. Eligibility criteria for the work permit include that the intended employment must be an essential part of the academic program, and co-op or internship employment cannot constitute more than 50% of the total program of study. The PGWP is typically issued for the duration of the study program. To be eligible for a PGWP, the course duration must be at least eight months.

Related Resources

• Courses after MBA in Canada
• MBA in Canada without GMAT

FAQ

1. What are the top MBA colleges in Canada?

The top MBA colleges in Canada are:

• Rotman School of Management
• Desautels Faculty of Management, McGill University
• Ivey Business School
• UBC Sauder School of Business
• Smith School of Business at Queen's University
• Schulich School of Business
• Alberta School of Business
• John Molson School of Business
• HEC Montreal
• Degroote School of Business

2. Why study MBA in Canada?

The top reasons to study at the best MBA colleges in Canada are:

• Cost-effective country for international students
• Affordable student dormitories
• Opportunity to stay in Canada post-graduation
• Pathway to permanent residence
• High-quality education with practical and theoretical expertise
• Higher chances of securing scholarships for Indian students
• Internationally recognized MBA degree enhancing career prospects.
• Internship opportunities
• Multicultural environment broadening cultural perspectives
• Great infrastructure and passionate faculty
• Best employment opportunities with global brands

3. What are the types of MBA in Canada?

Canadian institutions offer various MBA programs to meet the diverse needs of international students. The types of MBA programs in Canada include:

• Full-Time MBA: A one to two-year program offering in-depth business insights and global experiences, preparing students for leadership roles
• Part-Time MBA: A longer-duration program suited for working professionals, allowing them to complete their MBA while doing part-time jobs.
• Executive MBA: A 13-month program for professionals who want to work while studying

4. What is the duration of studying MBA in Canada?

The duration of studying MBA programs in Canada is two years. However, some business schools offer an Accelerated MBA that can be completed in 18 months. Additionally, other universities and colleges provide one-year MBA degrees.

5. Is a 1 year MBA available in Canada?

Yes. The one-year MBA in Canada has become quite popular among international students. This accelerated program allows students to complete their MBA degree in a shorter timeframe, making it an ideal option for individuals seeking to study abroad for a shorter duration.

6. How much does an MBA cost in Canada?

The average MBA tuition fee in Canada is $30,000 - $40,000. The tuition fee may vary depending on the university and colleges you choose.

7. Which is the No 1 MBA university in Canada?

According to QS Global MBA ranking 2025, Rotman School of Management is in the top position.

8. What is the eligibility for MBA in Canada?

The eligibility criteria for MBA in Canada is candidates need to complete the Bachelor's degree from a recognized institute. Students need to showcase their GMAT or GRE score and IELTS or TOEFL score. Also, relevant work experience is required.

9. Is there any exam for MBA in Canada?

Yes. To pursue MBA in Canada, you need to do the GRE or GMAT entrance exam and any of the English proficiency tests such as IELTS, TOEFL, PTE, etc.

10. What is the age limit for MBA in Canada?

A minimum age of 18 years is required for an MBA in Canada. The maximum age limit requirement may vary according to the university you study.

11. Can I do MBA for free in Canada?

You can do MBA at a lesser cost if you’re eligible for any of the MBA scholarships that are offered by institutes or any other organizations.