An MBA in Canada is one of the best and most fulfilling career investments, not just for the quality of education that these postgraduate programs offer you. After graduating from these programs, you can work in jobs where you get paid lucrative salaries as well.
As an MBA graduate in Canada, you will find opportunities in some of the highest-paying sectors in the North American country, such as finance, healthcare, consulting, and retail. On average, you can earn CAD 89,000 per year after graduating with an MBA and starting work.
This blog will discuss the MBA salary you can expect in different job roles in various sectors. It will also offer you an industry-wise breakdown so that you can have a clear idea of the figures in this case.
Source: Payscale
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MBA Salary in Canada by Industry
The MBA degree salary in Canada varies a lot depending on the industry you are working in. Usually, sectors like finance, consulting, and technology offer the highest salaries for MBA graduates. Your job role also plays an integral part in this regard. For example, as a CTO or finance manager, you income would be relatively higher than other roles.
1. Finance and Banking
After graduating from these programs, you can work in the finance and banking sector, where you will be eligible for lucrative Master of Business Administration salaries. Your biggest employers in this case will be:
- Banks
- Investment Firms
- Asset Management Companies
- Private Equity Firms
- Venture Capital Organizations
- Corporate Finance Departments
- Consulting Firms
| Job Role | Annual Average Salary |
| Portfolio Manager | CAD 101,000 |
| Management Consultant | CAD 92,000 |
| Finance Manager | CAD 91,000 |
| Private Equity Operations | CAD 91,000 |
| Risk Management | CAD 84,000 |
| Investment Banker | CAD 82,558 |
| Corporate Finance | CAD 75,000 |
| Financial Analyst | CAD 65,000 |
| Financial Advisor | CAD 64,130 |
| Wealth Management | CAD 61,000 |
Sources: Glassdoor and Indeed
Also read: Best Online MBA Programs for Finance Students
2. Consulting
As an MBA graduate in consulting roles, you will use your leadership and strategic thinking skills to help businesses become efficient and grow. You will also work with and/or for the top consulting firms and industry leaders in Canada.
| Job Role | Annual Average Salary |
| Strategy Consultant | CAD 95,000 |
| Management Consultant | CAD 92,000 |
| Strategy Insights and Planning Consultant | CAD 89,000 |
| Banking Consultant | CAD 58,000 |
Source: Glassdoor
Also read: MBA in Canada Can Boost Your Career in Consulting
3. Technology
The technology sector offers the best MBA career paths and salaries in Canada. You already have the business acumen, communication, and leadership skills that you require to perform well in strategic and management roles in technology businesses.
| Job Role | Annual Average Salary |
| Director of Operations | CAD 105,000 |
| Product Manager | CAD 92,000 |
| Management Consultant | CAD 92,000 |
| Strategy Insights and Planning Consultant | CAD 89,000 |
| Cybersecurity Consultant | CAD 87,000 |
| Business Intelligence Analyst | CAD 80,556 |
| Business Development Manager | CAD 78,424 |
| General Manager | CAD 74,000 |
| Data Analyst | CAD 73,152 |
| Business Analyst | CAD 70,000 |
Sources: Glassdoor and Indeed
Also read: Best MBA Program for Tech Students in Canada
4. Healthcare and Pharmaceuticals
In the healthcare and pharmaceutical sectors, you can utilize your business acumen to drive strategy, manage projects, enhance operations, and foster innovation. This will help you earn a fantastic MBA income as well.
| Job Role | Annual Average Salary |
| Director Regulatory Affairs | CAD 152,000 |
| Director of Operations | CAD 105,000 |
| Corporate Development Manager | CAD 103,000 |
| Senior Consultant | CAD 93,000 |
| Project Manager | CAD 92,661 |
| Pharmaceutical Project Manager | CAD 81,000 |
| Marketing Manager Pharmaceuticals | CAD 76,000 |
| C-Level Executive | CAD 65,000 |
| Healthcare Consultant | CAD 55,000 |
| Hospital Administrator | CAD 51,000 |
Sources: Glassdoor and Indeed
5. Energy, Manufacturing & Logistics
You can make great MBA earnings in the energy, manufacturing, and logistics sectors in Canada. The work here is diverse too, including process optimization, driving strategy, and supply chain management.
| Job Role | Annual Average Salary |
| Strategic Sourcing Manager | CAD 101,000 |
| Project Manager | CAD 92,661 |
| Transportation Manager | CAD 90,512 |
| Operations Manager | CAD 82,642 |
| Logistics Manager | CAD 78,869 |
| Supply Chain Manager | CAD 73,000 |
| Business Analyst | CAD 70,000 |
| Refinery Manager | CAD 70,000 |
| Warehouse Manager | CAD 67,328 |
| Supply Chain Analyst | CAD 60,000 |
Sources: Glassdoor and Indeed
What Factors Influence MBA Salaries in Canada?
The following are the main factors that influence the MBA degree pay you receive in Canada:
- Work Experience
- Program Quality and School Reputation
- Industry
- Location
- Type and Size of Company
- Specialization
- Program Curriculum
- Negotiation Skills
All these factors influence your MBA average salary in Canada in different ways.
For example, if you already have a few years of work experience in the domain where you are working, it is more likely that you would receive a higher MBA salary than someone who does not but is working in the same field.
Also read: Highest-Paying Remote Jobs for Online MBA Graduates in Canada
How upGrad Can Help You Maximize Your MBA Salary
Studying the online MBA courses available through a leading educational platform like upGrad Canada can do wonders for your MBA salary prospects in Canada. It offers you industry-aligned certifications and expert networking and mentorship.
Not only that – you also get other benefits like placement partnerships and career transition support! You can also take specialized upskilling courses on the platform that help you become an expert in in-demand areas.
- Master of Business Administration, Edgewood University
- Master of Business Administration, Golden Gate University
- Master of Business Administration, Liverpool Business School
- Dual Degree MBA and DBA, Edgewood University
- Master of Business Administration (MBA), O.P. Jindal Global University
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FAQs on Expected salary after MBA in Canada
Ans: This depends on the job role you are working in. For example, if you work as a director of regulatory affairs, you can earn CAD 152,000 a year on average.
Ans: In Canada, you have the opportunities to get a lucrative salary as an MBA graduate in sectors like finance, consulting, and technology. They also offer you strong career prospects.
Ans: Yes, the ranking of the school where you earned your MBA does indeed have an impact on how much you earn after graduating from the program.
Ans: Yes, where you stay and work does affect how much you earn in your MBA job. For instance, if you reside in Vancouver or Toronto, then the possibilities of a higher salary is positive.
Ans: If you have relevant work experience in an MBA job role, you are eligible for higher pay packages.
