In this post, we are going to talk about cost, requirements, top business schools and scholarships to pursue MBA in Canada. In today’s time, MBA is one of the most sought-after courses. Pursuing MBA abroad would give a student practical knowledge as well as better work opportunities. For Indian students, Canada is one of the most preferred destinations for pursuing MBA abroad.
MBA in Canada
Cost, Eligibility, Duration, Top Universities, and Scholarships
Master of Business Administration (MBA) is one of the most prestigious postgraduate degrees that helps students to become experts in managing businesses in all forms like a small family business or a big company or a start-up. It is the most popular qualification to have and is widely recognized in India and abroad by the top employers. Having an MBA degree can boost an individual’s resume and open more gateways for job opportunities, not only in India but across the world. Now, once you have made the decision to pursue an MBA, then the next question of foremost importance is “From Where?”
Many people nowadays are opting to pursue MBA from abroad as it increases the chances of getting placed in an MNC at an excellent pay scale. But, overseas education can be quite costly, so it is very important that you make the right decision at the very beginning, so that, you can gain an education without worrying much about the fees. The article below is based on why Canada should be preferred to pursue an MBA and what will be the cost and requirements to study in Canada for the same?
Why Study MBA in Canada?
Seven of the world’s top 150 universities are based in Canada, according to the QS World University Rankings of 2018. So, if you wish to do an MBA from one of the best universities and also be economical, then Canada is the country for you. Canada is tagged as the world’s most educated country and also one of the safest places to live in the world.
Canada is becoming the most preferred country by international students, as it also has a good environment to live. Also, after completing MBA all the international students are eligible to apply for permanent residence in Canada. The universities in Canada give job opportunities, so you can easily settle in Canada after your MBA if you wish to.
Canada’s degree has high placement value and is highly recognized throughout the world. Another amazing factor to pursue MBA from Canada is that it is more affordable as compared to other countries like the U.S.A, the U.K., etc.
Also, the major cities in Canada are Vancouver, Montreal, Quebec City, and Toronto. So, in case you need a break during the course of your MBA, you can easily escape to any one of these cities and explore the multicultural and beautiful environment.
Eligibility/ Requirements to pursue MBA in Canada
Some of the basic requirements to pursue MBA from Canada are:
- BACHELOR’S DEGREE: Candidates must have a Bachelor’s degree in any discipline from a recognized university/institution.
- WORK EXPERIENCE: The candidate must have relevant work experience in any relevant field, as universities give preference to students with work experience of a minimum 12 months. It is not a mandatory criterion, but, students having work experience definitely have an edge over others.
- ENGLISH LANGUAGE PROFICIENCY: Candidates belonging to non-native English speaking countries have to prove their English language proficiency, by scoring good marks in IELTS and TOEFL in order to secure admission.
- GMAT: A good GMAT score is also required to get admission to a top university in Canada.
The whole application procedure to study MBA in Canada is quite lengthy, so make sure you are applying at least 15 to 18 months before you are planning to start your target session. You can easily get the application form for most of the universities on their official websites.
Below mentioned are the documents required for the application process:
- ACADEMIC RECORD: It includes all the documents related to your graduation degree.
- STANDARD ADMISSION TESTS: English language proficiency test (IELTS/TOEFL) scores and GMAT test score.
- PROOF OF FUNDING: Financial documents and bank statements, to ensure your financial well-being.
- WORK EXPERIENCE: Documents related to your work experience.
- LETTER OF RECOMMENDATIONS from your previous or existing supervisor. It can be from your previous and current supervisors/managers or from your graduate faculty who have seen your work closely.
- ADMISSION ESSAY OR STATEMENT OF PURPOSE: This is one of the major elements of the application, as, on the basis of this, the admissions committee will evaluate the candidate.
- VISA DOCUMENTS: Documents associated with visa. Read more on Canada Student Visa.
If your application is successful, you will receive a ‘Letter of Offer’ from the university you have applied in. To confirm the offer, you will be required to respond to this letter by signing and sending an acceptance of offer back to the institution. Usually, this can be done by email or, in some cases, by scanning and emailing the letter.
Cost/ Quality of Life
Canada is a great country to study in as it provides a high-quality lifestyle to all its residents & citizens. As a Canadian citizen, you will be exposed to various benefits that the state provides like, world-class health services and that too free. To pursue MBA in Canada, the average tuition fee is between $30,000 – $40,000, which is far less as compared to what US universities charge.
Financial Aid & Scholarships for MBA in Canada
Since an MBA is a professional course, the scope of getting a scholarship for international students for pursuing an MBA program in Canada is limited. However, students with excellent academic records and other achievements can get scholarships relevant to the program. Many times, because of the top scores in GMAT and other academic achievements, students are given a partial waiver, which means the half cost of their education is free. Apart from this, candidates who wish to get some financial aid can apply to these popular scholarship programs:
- Ontario Graduate Scholarships (OGS): This fellowship is funded by the government with the aim to provide quality education at the masters and doctoral levels.
- University of Waterloo Graduate Scholarship: Meritorious students who are pursuing graduate studies are offered this scholarship by the University of Waterloo.
- Central Sector Scheme of National Overseas Scholarship for SC etc. candidates- (All countries except the UK): This scholarship is provided to the deserving students who wish to pursue masters or Ph.D. abroad.
- Go Clean Scholarship: This is another scholarship for meritorious students who want to pursue their higher studies abroad.