Best Universities in Canada for MBA – Fees, Eligibility, & Scholarships

Aspiring to become a business leader with a top-notch MBA program in Canada? Let's delve into the 10 best MBA colleges in Canada based on the QS MBA University Ranking of 2023. These institutions have established themselves as titans of business education in Canada. An MBA degree from one of these institutes can accelerate your career pathway. In this article, you will discover these universities' unparalleled reputations, distinguished faculties, and rigorous curricula that will equip you with the knowledge and skills necessary to excel in the competitive business world.  

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Best MBA Universities in Canada 2023

Here are the top MBA universities that you should check out in Canada, as per the QS Global MBA Rankings 2023:

#1 Rotman School of Management – University of Toronto

Ranked among the top universities in Canada, the University of Toronto is located in the heart of downtown Toronto. The Rotman School campus is conveniently situated in close proximity to the nation's vibrant commercial and financial hub. The university offers MBA as one of the best courses in their curriculum. It has an exceptional program structure that offers its students promising careers as they complete their degrees here. 

Type	Full-time, Part-time, One-year Executive,  Global Executive
Annual Academic Fee	CAD 45,470 to CAD 124,893
Duration	13 Months – 36 months
GMAT Score	Minimum 550
Eligibility	Minimum of 3.0 GPA in Bachelor’s, minimum 2 years of work experience, or a minimum of 7.0 score in IELTS or 100 in TOEFL for English proficiency
Average Annual Salary	CAD 139,966 approx
Specialization	Brand Management, Business Design, Consulting, Financial Reporting & Analysis, Funds Management, General MBA, Global Management, Health Sector Management, Innovation & Entrepreneurship, Investment Banking, Real Estate, Leadership & Change Management, Management Analytics, Process & Supply Chain Management, Risk Management & Financial Engineering, and Social Impact & Sustainability

#2 Ivey Business School – Western University

Ivey is the only school in Canada that offers a real example-based learning approach in the MBA program. They go beyond lecturing and provide a one-year MBA course instead of two years. With the reduced cost of investment, Ivey's MBA becomes rigorous with a comprehensive curriculum. Ivey's full-time faculty members bring rich and varied experiences to students in the classroom.

Type	Full-time, Executive, Accelerated
Fees	CAD 126,600
Duration	12 Months – 15 Months
GMAT Score	Minimum 520
Eligibility	Minimum 2 years of work experience, IELTS, TOFEL, or PTE score
Average Annual Salary	CAD 141,231
Specialization	Finance, Entrepreneurship, Marketing, Corporate Strategy & Leadership, and International Management

#3 Desautels Faculty Of Management – McGill University

Desautels’ MBA program focuses on AI, data analysis, design thinking, and financial technology. McGill has partnered with various government and industry bodies to ensure its learners have access to professional expertise while they are pursuing their studies. The eminent faculty helps nurture the idea of entrepreneurship in students. 

Type	Full-time, Executive
Program Fees	CAD 91,000 to CAD 99,500
Duration	1 Year – 2 Years
GMAT Score	Minimum 670
Eligibility	Minimum 2 years of work experience, IELTS, TOEFL, or PTE score
Average Annual Salary	CAD 102,466
Specialization	Finance, Marketing, Global Strategy & Leadership, Business Analytics, and Entrepreneurship

#4 Smith School of Business – Queen’s University 

MBA at Queen’s University offers a blended teaching style with experiential learning, simulation, and case studies. The holistic approach of the university provides expertise in technical and interpersonal skills. Besides this, Smith Business School also allows you to customize your program with Sustainable Finance options, a certificate in Social Impact, an individual project course, a student-run hedge fund, and many others. 

Type	Full-time, Executive, Accelerated
Program Fees	CAD 81,920 to CAD 105,100
Duration	12 Months – 16 Months
GMAT Score GRE Score	Minimum 600 Minimum 315
Eligibility	A Bachelor’s degree of 4 years, a minimum 2 years of  work experience, GRE or GMAT scores, a minimum of 100 scores in TOEFL, or 7.0 score in IELTS
Average Annual Salary	CAD 135,856
Specialization	Consulting, Finance, Entrepreneurship and Innovation, Finance, Management Analytics, Digital Transformation, Sales and Marketing

#5 Sauder School of Business – University of British Columbia (UBC)

UBC’s MBA program provides a rigorous learning approach with a collaborative team, where faculty, staff, and career advisors support you throughout the program journey. Moreover, UBC Sauder ranks #16 in North America for its business research excellence.  

Type	Full-time, Part-time
Fees	CAD 94,559
Duration	16 Months – 24 Months
GMAT Score GRE Score	Minimum 550 Minimum 155
Eligibility	3 or 4 years Bachelor’s degree with minimum B+ grade, minimum 2 years of work experience, and a minimum of 100 scores in TOEFL, 7 in IELTS, 70 in PTE, or 70 in CAEL for English proficiency
Average Annual Salary	CAD 83,194
Specialization	Finance, Product & Service Management, Climate, Technology & Analytics Leadership, and Innovation & Entrepreneurship

#6 Schulich School of Business – York University 

MBA at York University offers you the flexibility to switch between full-time and part-time enrollment. It provides real-world experiential learning with strategic consulting project that helps students work with clients on real business problems and solutions. 141 companies hire Schulich MBA graduates. 

Type	Full-time, Part-time, Accelerated, Executive
Fees	CAD 117,800 to CAD 140,385 approx
Duration	8 Months – 40 Months
GMAT Score	Minimum 550
Eligibility	An undergraduate degree with a minimum of B+ grade, minimum 2 years of work experience, GMAT or GRE score, and a minimum of 100 scores in TOEFL or 7.0 score in IELTS,
Average Annual Salary	CAD 97,725
Specialization	Accounting, Business Consulting, Digital Transformation, Entrepreneurial Studies, Finance, Financial Risk Management, Marketing, Operations and Management, Strategic Management, Real Estate & Infrastructure, and many others

#7 Alberta School of Business – University of Alberta 

Alberta School of Business is producing market professionals with an effective, innovative, and go-getter attitude with its programs in Business and Management. The course is a blend of applied learning, practical case studies, and lectures. Development activities and skill-oriented learning is a part of the curriculum, making it best in line with education.

Type	Full-time, Part-time, Executive,  Fast-track
Program Fees	CAD 65,000
Duration	10 Months – 22 Months (3 to 4 years for part-time)
GMAT Score	Minimum 550
Eligibility	An undergraduate degree with a minimum 3.0 GPA, minimum 2 years of work experience, GRE or GMAT scores, and a minimum of 100 scores in TOEFL, 7.0 in IELTS, 68 in PTE, or 60 in CAEL for English proficiency
Average Annual Salary	CAD 93,000
Specialization	Energy Finance, Operations & Business Analytics, Strategy & Consulting, Innovation & Entrepreneurship, and Public Sector & Healthcare

#8 John Molson School of Business – Concordia University 

John Molson Business School is the first in Montreal and fourth in Canada to get accredited by the Association to Advance Collegiate Schools of Business (AACSB). It offers both full and part-time programs, including executive as well as MBA. The faculty at the university focuses on business research helping students prepare for their career goals. The curriculum is a blend of practical learning with a business approach, offering a hands-on experience to students.

Type	Full-time, Executive
Program Tuition Fees	CAD 47,900
Duration	20 Months – 24 Months
GMAT Score	Minimum 580
Eligibility	An undergraduate degree with a minimum of 3.0 GPA, minimum 2 years of work experience, GMAT or GRE score, and a minimum of 7.0 score in IELTS, 95 in TOEFL, or 120 in DET for English proficiency
Average Annual Salary	CAD 104,321 to CAD 153,167
Specialization	Accountancy, Finance, Management, Marketing, Supply Chain & Business Technology Management, and Data Analytics (SAS Certification)

#9 HEC Montreal

Established in 1907, HEC Montreal is among Canada’s top-notch Business schools. It has secured a good position in various ranking surveys like QS ranking, Times Higher Education, Forbes, etc. With esteemed faculty members, who focus on nurturing talent with overall development, the university’s MBA program gives students real-world business and management experience through various learning methods.

Type	Full-time, Part-time Executive
Program Fees	CAD 59,100 to CAD 91,000
Duration	12 Months – 15 Months
GMAT/GRE Score TAGE MAGE Score	Minimum 570 Minimum 250
Eligibility	An undergraduate degree, minimum 3 years of work experience, TAGE MAGE, GRE or GMAT score, and minimum 5.5 scores in IELTS or 72 in TOEFL
Average Annual Salary	CAD 103,500
Specialization	Business Analytics, Global Markets and International Politics, Sustainable Degrowth, Managing Big Data, Financial Services, Leadership and Corporate Residency, and many more

#10 Rowe School of Business – Dalhousie University

Ranked among the top universities to pursue MBA in Canada, it is a research-oriented and innovation-friendly institute founded in 1818. The main focus it brings with its curriculum is interactive learning, considering the industry’s demand to provide students with professional knowledge from experienced individuals. Skill development and practical expertise are what they want their students to have from relevant experts in the field of study.

Type	Full-time
Tuition Fees	CAD 91,320
Duration	8 Months – 48 Months
GMAT Score	Minimum 550
Duration	8 Months –  48 Months
Eligibility	An undergraduate degree with a minimum of 3.0 GPA, minimum 5 years of work experience, GRE or GMAT score, and TOEFL score for English proficiency
Average Annual Salary	CAD 69,939
Specialization	Financial Services, Leadership, and Corporate Residency

Admission Requirements to Study MBA in Canada

Here are the eligibility criteria and documents required in the best universities in Canada for an MBA:

• A curriculum vitae or resume.
• An official transcript.
• You can also study in Canada with an undergraduate degree and the minimum prescribed score as mandated by the institution.
• IELTS/TOEFL/PTE scores for English proficiency proof are a must to study abroad in Canada. 
• You will also need a GMAT or GRE score. 
• Many universities often require a minimum of two years of work experience. However, you can still find some of the best universities in Canada for an MBA without work experience. 
• Two professional and one academic LORs (Letters of Recommendation)
• Statement of purpose (SOP).
• A valid passport and study permit.

Scholarships to Study MBA in Canada

Despite your high aspirations to study in your favorite destination, finance could be a huge problem impacting your desire to pursue MBA in Canada. However, Canadian universities offer several scholarships to fund your studies partially or entirely to relieve you of the financial burden. Let’s have a look at scholarships offered to study MBA at the best universities in Canada.

Scholarship	University Name	Eligibility	Award
Forte Fellowship Awards	Rotman School of Management	Merit-based for women	CAD 10,000 to CAD 25,000
Entrepreneurship Fellowship	Ivey Business School	Must have completed the Ivey Certificate in Entrepreneurship and New Venture Project	CAD 40,000
Laurentian Bank MBA Leadership Award	Desautels Faculty Of Management	Must demonstrate leadership quality	CAD 4,000
General entrance scholarship	Smith School of Business	Merit-based	CAD 10,000 to CAD 70,000
UBC Sauder scholarships and awards	Sauder School of Business	Merit-based	CAD 10,000 - $60,000
Robert Krembil Scholarship of Merit	Schulich School of Business	Must show a strong academic record Minimum two years of work experience	CAD 80,000
Alberta Graduate Excellence Scholarship	Alberta School of Business	Must demonstrate excellent academics with a 3.3+ GPA	CAD 12,000

Job Prospects After Stdying MBA in Canada

Completing an MBA degree from Canada can yield you an earning of around CAD 86,000*per annum. The salary varies based on the various job profiles available for you after graduating with an MBA from Canada. Here are some of the job prospects, along with their respective salary, that you can apply for after your MBA.

 

Job Profile	Average Annual Base Salary*
Project Manager	CAD 85,401
Management Consultant	CAD 88,007
Marketing Manager	CAD 76,193
Human Resources (HR) Manager	CAD 76,743
Finance Manager	CAD 89,249
Financial Analyst	CAD 62,483
Senior Business Analyst	CAD 87,917
Operations Manager	CAD 81,366

*Source: Payscale

 

MBA in Canada with upGrad Abroad

upGrad brings you a Master in Business Administration (MBA) with its Study Abroad program in collaboration with University of Canada West and the Institute of Management Technology, Ghaziabad. It’s a hybrid graduate program. The highlight of the course is that you can pursue it without worrying about expenses, as it comes with an adaptable payment option.