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Top MBA Universities in Canada 2024 - Rankings, Admission, Eligibility, Fees

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Top MBA Universities in Canada 2024 - Rankings, Admission, Eligibility, Fees

Edited By Team Careers360 | Updated on Feb 22, 2024 04:58 PM IST

Top MBA Universities in Canada - After the USA, Canada is highly held as the best place to receive global MBA degrees. Accordingly, Canadian business schools are one of the most highly regarded B-Schools in the world for cutting-edge MBAs. While tuition fees are not the cheapest, an MBA from Canada is high-yielding in terms of job prospects. The average salary of an MBA graduate in Canada is more than 65 Lakh per annum (in INR). Moreover, top MBA universities in Canada allow flexibility to choose the format and specialisation of MBA along with plenty of placement-related support after study in Canada.

Some of the best universities in Canada for MBA offer purely case-study methods of learning, while it is also possible to directly begin an entrepreneurial journey during the MBA studies itself. Read the full article to know why MBA in Canada is a good choice, why to choose the top MBA universities in Canada, eligibility, etc.

Top MBA Universities in Canada 2024

MBA in Canada is one of the highly sought-after qualifications. 2024 MBA rankings of universities in Canada prove that. Every year, QS and Times Higher Education rate universities across the world based on top subjects. The below table complies with the list of top MBA universities in Canada according to Times Higher Education 2024 MBA rankings worldwide.

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Best Universities in Canada for MBA

Name of the University in CanadaTimes Higher Education 2024 (MBA) RankingQS 2023 (MBA) Ranking

University of Toronto

24

28

University of British Columbia

35

39

University of Montreal

72

73

Western University

86

66

McGill University

89

51

University of Alberta

101

128

University of Waterloo

151

201-250

McMaster University

201-250

251-300

York University

201-250

139

University of Calgary

251-300

201-250

University of Toronto (Rotman School of Management)

Rotman School of Management of the University of Toronto is among the top MBA universities in Canada for 2024. The university offers various Master's, graduate, full-time MBA, and part-time MBA courses. Executive MBA and Global MBA are offered for professionals in Leadership positions. While the full-time MBA program duration is two years, there are short-term courses like Graduate Diploma in Professional Accounting (12-week summer course) and part-time MBA (32 Months). Mention of U of T among the top MBA universities in Canada is rightly justified as the programs are tailored to the level of students. While it is ranked number one in Canada, globally, Rotman School of Management is at 24th place for MBA.

University of British Columbia (Sauder School of Business)

The University of British Columbia is renowned for innovation, expanding business knowledge and changing leadership perspectives, Sauder School of Business is among the top MBA universities in Canada for 2024. More than 20 business and management-related degrees are offered at Bachelors, Masters, diploma, professional, and doctoral levels including full-time MBA. Total cost of a full-time MBA is nearly 87 Lakh Indian rupees including living costs in Canada at this one of the top MBA universities in Canada. Average GMAT score of class 2023 was recorded to be 649, while the minimum GMAT requirement is 510. Among the MBA enrollment for 2023, 67% of international students were there. Most MBA graduates were placed in consulting, finance, marketing, and general management roles in 2022.

University of Montreal (HEC Montreal)

The University of Montreal is known as the first business school in Canada. HEC Montreal is a bilingual business school among top MBA universities in Canada. Over 150 management programs are offered at various levels of study, which is one of the highest among top MBA universities in Canada. Twenty-two programs are offered in the English language medium. Full-time MBA program is one year in duration. HEC Montreal MBA graduates have seen a 97% placement rate with a 60% increase in salaries in the latest placements. Studying at HEC Montreal helps build a strong business network in Montreal and across the world. Work after study in Canada assistance is provided. However, aspiring students must ensure that they have three years of full-time work experience to apply for an MBA at HEC Montreal.

Western University (Ivey School of Business)

The third among the top MBA universities in Canada for 2024, Ivey School of Business of Western University . It offers a one-year MBA that has been ranked number one for seven consecutive years by Bloomberg BusinessWeek. It is the largest producer of Asian and Indian business cases in the world. What makes Ivey School of Business one of the leading top business Schools in Canada is the value for Money. 92% of MBA graduates landed job offers within three months of graduation, with the average package going up to 85 Lakh Indian rupees. The minimum GMAT requirement for Ivey School of Business for 2022 was 520. Ivey Business School's method of learning prepares students to become leaders by doing.

McGill University (Desautels Faculty of Management)

Offering a range of business programs at UG, PG, and doctoral levels, Desautels Faculty of Management of McGill University is consistently ranked among the top MBA universities in Canada and the world. Not just hands-on business programs, but Desautels Faculty of Management has invested heavily in research. There are 8 Integrated and Area-Specific Research Centres exclusively for management research. Regular, full-time MBA offered at McGill offers flexibility to complete it in a one-year or two-year course. A year MBA includes an internship along with additional elective courses to complete, which is possible to complete in 16 months. The flexibility to design contents of specializations in MBA also adds it to the list of best universities in Canada for MBA.

University of Alberta (Alberta School of Business)

Alberta School of Business of University of Alberta is another one of the top MBA universities in Canada that offers a two-year (20-month) full-time MBA course. International students can experience a collaborative environment, mentorship from outstanding faculty, and extensive career coaching at the Alberta School of Business. Along with a full-time MBA, more than 15 certificate, undergraduate, graduate, and PhD programs are offered in the management stream. As part of a full-time MBA, students can go for a summer internship that gains them professional credits. Student Leadership, Project-based Learning, Community Service Learning, Applied Technical Training Sessions, and case competitions are some of the highlights of studying MBA at Alberta School of Business.

University of Waterloo

Studying MBA at the University of Waterloo, students will be learning in the most entrepreneurial-intense environment. Waterloo is known for its entrepreneurial ecosystem, which is a perfect setting to receive quality mentorship, support, and inspiration to become future leaders. What sets the university apart is its unique Master of Business, Entrepreneurship, and Technology (MBET) program offered instead of a regular MBA. Right from the beginning, the emphasis is on building things. On campus, the Accelerator Centre is ranked fifth in the world. The provision of business incubators and support for students to capitalize on their business ideas are just some of the reasons why it is among the top MBA universities in Canada for 2024.

McMaster University (DeGroote School of Business)

Another best choice among top MBA universities in Canada is DeGroote School of Business affiliated with McMaster University . Times Higher Education 2024 has placed it at 201-250 position in the world, and 8th among the top MBA universities in Canada. Full-time MBA at DeGroote School of Business 20-month program that includes an optional 4-month paid internship. It is recommended for anyone with 1-7 years of work experience. DeGroote School of Business offers an international exchange program that prepares students for global markets. Five variations of MBA courses are offered depending on the length of work experience along with MBA specialisations in Health Services Management, and Strategic Business Valuation.

York University (Schulich School of Business)

Schulich School of Business of York University has been ranked globally at 201-250 in Times Higher Education for top MBA universities in Canada. It is among the best universities in Canada for MBA for International students who are seeking a high degree of flexibility. Along with 17 areas of specialisation, Schulich School of Business allows switching between full-time and part-time enrollment. It is possible to accelerate and complete a full-time MBA in 8 months. Weekend and Evening MBA formats are also being offered to working professionals. Amazon, Deloitte, IBM, and P&G are some of the prominent recruiters who hire MBA graduates from York University.

University of Calgary (Haskayne School of Business)

Haskayne School of Business is among the top MBA universities in Canada for the right reasons. It is flexible, diverse, real-time, and value for money. MBA at University of Calgary is one of the cheapest MBA programs in Canada. It costs only INR 15.24 Lakh to complete the course. The average salary recorded in the latest MBA placement report indicated CAD 117,000, which is around 70.5 Lakh Indian rupees. This is a huge ROI that is more than 400%. At the undergraduate level, a four-year Bachelor of Commerce is offered in more than 18 specialisations including Risk Management and Insurance, Real estate, and Tourism Management.

Eligibility for Top MBA Schools in Canada

Top MBA programs in Canada have above-average requirements for admission. While the common eligibility criteria mentioned by universities are mandatory to fulfil, heavy competition raises the bar high. In such cases, candidates with high academic qualifications, English proficiency, and work experience may be given preference.

Minimum Entry Requirements of Top Ranked MBA Programs in Canada

Tuition Fees for Top MBA Colleges in Canada

IDP global says that the average cost of MBA in Canada falls between CAD 30,000-40,000. Top MBA universities in Canada charge up to ₹85 L for a full MBA course. However, ROI is one of the important factors when planning to study MBA in Canada.

Cost of Top MBA Universities in Canada

University in Canada

MBA Tuition Fees 2023 & Duration

Average Salaries & Employment Rate

University of Toronto (MBA Finace)

CAD 136,410 (INR 82.21 Lakh)

CAD 112,897

University of British Columbia

CAD 98,341 (INR 59.27 Lakh)

CAD 99,127

University of Montreal

CAD 59,100 (INR 35.62 Lakh)

CAD 103,500 (Base)

Western University

CAD 126,600 (INR 76.31 Lakh)

CAD 141,231

McGill University (MBA Consulting)

CAD 99,500 (INR 59.97 Lakh)

CAD 102,466

University of Alberta

CAD 70,000 (INR 42.19 Lakh)

CAD 93000

University of Waterloo

CAD 67,941 (INR 40.94 Lakh)


McMaster University

CAD 111,300 (INR 67.08 Lakh)

CAD 82,464 (Base Salary)

York University

CAD 117,850 (INR 71.04 Lakh)

CAD 98,165 (2022)

University of Calgary

CAD 25,293 (INR 15.24 Lakh)

CAD 117,000

Scholarships to Study MBA in Canada

B-School in Canada

Range of Financial Aid

Rotman School of Management Scholarships

Up To CAD 40,000

Sauder School of Business Entrance Scholarship

CAD 5,000–CAD 15,000

Alberta Business School

CAD 10,000

Ivey Business School

CAD 10,000 to 50% of tuition fees

Haskayne School of Business MBA Entrance Scholarships

CAD 1,500– CAD 20,000

Schulich School of Business Scholarships

CAD 20,000- CAD 40000

Advantages of Studying in Top Universities for MBA in Canada

The advantages of studying at top MBA universities located in Canada are listed below.

1. Top MBA universities in Canada are more affordable than their counterparts in USA, Australia, and the UK.

2. Top MBA universities in Canada offer globally recognized MBA programs that prepare students for the competitive job market.

3. Completing a 2-year MBA leads to a 3-year work permit in Canada. It makes getting PR in Canada effortless.

4. High ROI: The average salary of an MBA graduate in Canada (CAD 83,000) is around 200% higher than the average cost of MBA (CAD 40,000).

5. Broad availability of specialisations in top MBA universities that offer flexibility in choosing an MBA course.

6. Top MBA universities in Canada have a 90%+ employment rate. MBA in Finance, consulting, healthcare, and technology, are in high demand in the Canada job market.

7. Competition to top MBA universities in Canada is less compared to their counterparts in the USA or UK.

Disadvantages of Studying in Top Universities for MBA in Canada

Here are a few of the disadvantages of studying at top MBA universities located in Canada.

1. MBA graduates are on their own to find jobs. Only placement-related assistance is provided by top universities for MBA in Canada.

2. Canada MBA programs are less prestigious than MBA from top universities in USA.

3. The harsh cold weather of Canada can be difficult to cope with.

Frequently Asked Question (FAQs)

1. What is the top business school in Canada?

Top business schools in Canada are ranked by QS and Times Higher Education for MBA every year. For 2024, the top five B-Schools in Canada are the University of Toronto, the University of British Columbia, HEC Montreal, Western University, and McGill University.

2. What is the cost of an MBA in Canada?

The average cost of an MBA in Canada ranges between CAD 30,000 – and CAD 40,000. Though it is cheaper compared to an MBA in the USA or Australia, for Indian students, it is still costly. Including living costs of CAD 10,000 per annum, it can be more than CAD 50,000 per year.

3. Is work experience required to study MBA in Canada?

Yes. Full-time MBA in top MBA universities in Canada requires five years of work experience on average. However, there are entry-level management courses that require one year of experience in some universities. Visit the official websites of universities to know the exact details.

4. What is the GMAT requirement for MBA in Canada?

The minimum GMAT score required for top MBA universities in Canada is 520 out of 800. However, due to high competition, the average GMAT scores of enrolled students can be as high as 650 out of 800. MBA aspirants must set a target of 700 to study in Canada.

5. Can I study MBA in Canada without IELTS?

Yes. Canada accepts alternative ELP tests TOEFL/PTE for MBA in Canada. In case IELTS seems difficult, these alternative ELP tests are very comfortable.

6. What are the disadvantages of an MBA in Canada?

Though MBA in Canada is globally recognized, there are some demerits to study MBA in Canada:

  • No placement drives are directly conducted on campuses.

  • High tuition fees.

  • It is not as popular as an MBA in the USA.

  • Weather is not supportive for cold-sensitive people as winter is very harsh in Canada. 

7. Do top MBA universities in Canada accept the GRE?

Yes. All major top MBA universities in Canada accept GRE scores for admission to MBA programs.

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Opportunities for B.Pharm students to pursue a master's degree in the US, UK, and Canada exist, but specific requirements vary. Generally, applicants need a B.Pharm degree, may require standardized tests, English proficiency, letters of recommendation, and a statement of purpose. Work experience can strengthen the application but is not always mandatory.

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If you are very sure and confident about going to Canada and have made a decision but you are having financial issues then there are multiple ways by which you can fund you education. Here are some ways by which you can fund your masters abroad:

Look for scholarships: There are many different types of scholarships for each kind of students, some are 100% whereas some are 50% scholarship. You can get scholarships from Indian Government, different institutions, philanthropist, some top companies that gives scholarships based on talent or financial condition, etc.

Student/education loan: This one might be the toughest decision to take, so take it only if you think you it would be worth it.

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An individual who is pursuing a career as a producer is responsible for managing the business aspects of production. They are involved in each aspect of production from its inception to deception. Famous movie producers review the script, recommend changes and visualise the story. 

They are responsible for overseeing the finance involved in the project and distributing the film for broadcasting on various platforms. A career as a producer is quite fulfilling as well as exhaustive in terms of playing different roles in order for a production to be successful. Famous movie producers are responsible for hiring creative and technical personnel on contract basis.

2 Jobs Available
Copy Writer

In a career as a copywriter, one has to consult with the client and understand the brief well. A career as a copywriter has a lot to offer to deserving candidates. Several new mediums of advertising are opening therefore making it a lucrative career choice. Students can pursue various copywriter courses such as Journalism, Advertising, Marketing Management. Here, we have discussed how to become a freelance copywriter, copywriter career path, how to become a copywriter in India, and copywriting career outlook. 

5 Jobs Available
Vlogger

In a career as a vlogger, one generally works for himself or herself. However, once an individual has gained viewership there are several brands and companies that approach them for paid collaboration. It is one of those fields where an individual can earn well while following his or her passion. 

Ever since internet costs got reduced the viewership for these types of content has increased on a large scale. Therefore, a career as a vlogger has a lot to offer. If you want to know more about the Vlogger eligibility, roles and responsibilities then continue reading the article. 

3 Jobs Available
Publisher

For publishing books, newspapers, magazines and digital material, editorial and commercial strategies are set by publishers. Individuals in publishing career paths make choices about the markets their businesses will reach and the type of content that their audience will be served. Individuals in book publisher careers collaborate with editorial staff, designers, authors, and freelance contributors who develop and manage the creation of content.

3 Jobs Available
Journalist

Careers in journalism are filled with excitement as well as responsibilities. One cannot afford to miss out on the details. As it is the small details that provide insights into a story. Depending on those insights a journalist goes about writing a news article. A journalism career can be stressful at times but if you are someone who is passionate about it then it is the right choice for you. If you want to know more about the media field and journalist career then continue reading this article.

3 Jobs Available
Editor

Individuals in the editor career path is an unsung hero of the news industry who polishes the language of the news stories provided by stringers, reporters, copywriters and content writers and also news agencies. Individuals who opt for a career as an editor make it more persuasive, concise and clear for readers. In this article, we will discuss the details of the editor's career path such as how to become an editor in India, editor salary in India and editor skills and qualities.

3 Jobs Available
Reporter

Individuals who opt for a career as a reporter may often be at work on national holidays and festivities. He or she pitches various story ideas and covers news stories in risky situations. Students can pursue a BMC (Bachelor of Mass Communication), B.M.M. (Bachelor of Mass Media), or MAJMC (MA in Journalism and Mass Communication) to become a reporter. While we sit at home reporters travel to locations to collect information that carries a news value.  

2 Jobs Available
Corporate Executive

Are you searching for a Corporate Executive job description? A Corporate Executive role comes with administrative duties. He or she provides support to the leadership of the organisation. A Corporate Executive fulfils the business purpose and ensures its financial stability. In this article, we are going to discuss how to become corporate executive.

2 Jobs Available
Multimedia Specialist

A multimedia specialist is a media professional who creates, audio, videos, graphic image files, computer animations for multimedia applications. He or she is responsible for planning, producing, and maintaining websites and applications. 

2 Jobs Available
Welding Engineer

Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues. 

5 Jobs Available
QA Manager
4 Jobs Available
Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

3 Jobs Available
Production Manager
3 Jobs Available
Product Manager

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

3 Jobs Available
QA Lead

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

2 Jobs Available
Structural Engineer

A Structural Engineer designs buildings, bridges, and other related structures. He or she analyzes the structures and makes sure the structures are strong enough to be used by the people. A career as a Structural Engineer requires working in the construction process. It comes under the civil engineering discipline. A Structure Engineer creates structural models with the help of computer-aided design software. 

2 Jobs Available
Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

2 Jobs Available
QA Manager
4 Jobs Available
AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

4 Jobs Available
Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

4 Jobs Available
Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

3 Jobs Available
Product Manager

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

3 Jobs Available
Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

3 Jobs Available
ITSM Manager
3 Jobs Available
Automation Test Engineer

An Automation Test Engineer job involves executing automated test scripts. He or she identifies the project’s problems and troubleshoots them. The role involves documenting the defect using management tools. He or she works with the application team in order to resolve any issues arising during the testing process. 

2 Jobs Available
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