The next hot destination to pursue an MBA? Think Canada.
With its relaxed study and work rules and cheaper tuition costs, Canada is becoming an attractive destination for international MBA candidates, Canada Is Leading In International Applications. International student applications to Canada have shown an increase compared to the US, where applications have dropped significantly.
According to GMAC, MBA programs in Canada are twice as likely to report growth in international applicants compared to the US. For instance, only 32% of US programs report growing international application volumes in 2017. Compare that to 77% of Canadian programs that reported increases in international applications for 2017.
What Prospective International Students Are Looking For
Outside of politics, experts say that Canada’s quality of education is highly attractive to international students.
“It is not just a political thing,” says Gregg Schoenfeld, director of research for GMAC, in an interview with The Globe and Mail. “We have seen a shift away from the U.S. as quality education has been growing outside the U.S., and economic conditions are changing.”
Another important aspect is the diversity a school or country can provide.
At HEC Montréal, diversity is a key selling point for students. According to The Globe and Mail, international students make up 53.8% of all applications to HEC Montréal’s full-time French and English MBA programs. China and India are the school’s largest applicant pools, but the school enrolls students across 29 different countries.
“You have to reach some balance in the group,” HEC dean Michel Patry tells The Globe and Mail. “The cachet of the MBA is important.”
The best B-Schools in Canada typically received applications with GMAT scores in the 670-710 range. Now, with would-be Ivy Leaguers applying to B-Schools in Canada as backup options, the range of applicants’ scores has shot through the roof. However, a large number of these applicants get into B-Schools in the US and don’t end up accepting offers from Canada’s B-Schools.
As a result, even though the average score of the applicant pool has risen dramatically, the average score of the students who study in Canada’s B-Schools hasn’t seen much of a shift.
Fortunately, though, this phenomenon has had no effect on B-School rankings within Canada. The top 10 MBA programs in the country are:
- Rotman School of Management, University of Toronto
- Ivey Business School, University of Western Ontario
- Desautels Faculty of Management, McGill University
- Schulich School of Business, University of York
- Smith School of Business, Queen’s University
- HEC Montreal
- Sauder School of Business, University of British Columbia
- John Molson School of Business, Concordia University
- University of Alberta School of Business
- DeGroote School of Business, McMaster University
Here’s some more information on the specializations available at each of these, their locations, tuition fees, and what it takes to get in.
1. Rotman School of Management, University of Toronto
Location: Toronto, Ontario
Duration: 2 years
Average GMAT Score: 658
Concentrations: Brand Management, Business Design, Consulting, Financial Reporting, and Analysis, Funds Management, Global Management, General MBA, Health Sector Management, Innovation and Entrepreneurship, Investment Banking, Leadership and Change Management, Process and Supply Chain Management, Real Estate, Risk Management, and Financial Engineering, Sustainability Rotman has topped charts for decades. Known to be one of the most innovative B-Schools in Canada, Rotman was the first to introduce video essays to its admissions process. The critically acclaimed Self-Development Lab and flexible Internship Program have earned Rotman its stellar record as far as campus placements go. For more details, visit Rotman’s, MBA Page.
2. Ivey Business School, University of Western Ontario
Location: London, Ontario
Duration: 1 year
Average GMAT Score: 670
Concentrations: You can choose from among five areas of focus, and your course will be tailored accordingly. The five areas of focus available are Finance, Entrepreneurship, Marketing, Corporate Strategy and Leadership, and International Management.
The Ivey Business School is yet another chart-topper when it comes to MBA rankings in Canada. Their in-house career management team is internationally acclaimed for the work it does, which is just made better by the fact that 94% of Ivey graduates switch careers post-MBA.
For more information, visit Ivey’s MBA Page.
3. Desautels Faculty of Management, McGill University
Location: Montréal, Québec
Duration: 20 months
Average GMAT Score: 668
Concentrations: Global Strategy and Leadership, Finance, Business Analytics, and Marketing. The Desautels Faculty of Management offers a variety of MBA programs, some of which look to integrate other fields of study with the MBA curriculum – like the Law MBA or the MD MBA programs. The McGill Case Competition Association and the McGill Business Consulting Group offer you excellent opportunities to learn in real-world scenarios. For more information, visit McGill University’s MBA page.
4. Schulich School of Business, University of York
Location: Toronto, Ontario
Duration: 20 months
Average GMAT Score: 660
Concentrations: Accounting; Arts, Media & Entertainment Management; Business & Sustainability; Business Consulting; Entrepreneurial Studies; Finance; Financial Risk Management; Financial Services; Global Mining Management; Global Retail Management; Health Industry Management; International Business; Marketing; Operations Management & Information Systems; Organization Studies; Real Estate & Infrastructure; Social Sector Management; Strategic Management. This is easily one of the most recognized names on the list of top MBA colleges in Canada. It is known for being highly student-centric, offering flexible study options so that you can take classes at the Keele campus or at the Toronto satellite campus. The most interesting part for most students is the two-term strategic consulting project where you get to work with clients on real business problems and solutions. For more details, visit Schulich’s, MBA Page.
5. Smith School of Business, Queen’s University
Location: Kingston, Ontario
Duration: 1 year
Average GMAT Score: 650
Concentrations: Consulting, Digital Transformation, Entrepreneurship and Innovation, Finance, Management Analytics, Marketing & Sales
Irrespective of the specialization you choose to go for, the Smith MBA requires you to undertake a mandatory Individual Project Course. As a part of this, you can work with an existing company to help deal with real-world business situations. Alternatively, you’re expected to come up with a new venture of your own. Often, these projects can even be launched as start-ups with the help of the Smith School of Business. For more details, visit Smith’s MBA Page.
6. HEC Montréal
Location: Montréal, Québec
Duration: 1 year
Average GMAT Score: 625
Concentrations: Entrepreneurship; Finance, Strategy, and Consulting; Markets and Business Intelligence; General Management and Leadership; International Management; Digital Enterprise. HEC Montréal has 300 faculty members who are industry experts from various walks of life. The popular B-school offers an optional Global Immersion Program, which is integral to making the very best of the HEC Montréal full-time MBA. The school also has an excellent placement record with an average wage increase of 28% across the board. For more details, visit HEC Montréal’s MBA page.
7. Sauder School of Business, University of British Columbia
Location: Vancouver, British Columbia
Duration: 16 months
Average GMAT Score: 650
Concentrations: Finance; Product and Service Management; Innovation and Entrepreneurship; or you can create a customized concentration for yourself. UBC Sauder is one of the few B-schools that allows you to customize and create your own concentration during the latter half of your 16-month MBA program. High on the customization factor, UBC Sauder has a multitude of self-development options headed by the Business Career Centre. Services available include one-on-one career coaching and guidance lectures and workshops. For more details, visit Sauder’s MBA page.
8. John Molson School of Business, Concordia University
Location: Montréal, Québec
Duration: 16 months
Average GMAT Score: 635
Concentrations: You are expected to choose topics from the following themes to create your own concentrations – Business Analytics; Entrepreneurship and Family Firms; People and Organizations; Consulting and Strategy; Globalization; and Experiential. Only 39% of an average MBA batch at the John Molson School of Business is made up of Canadian students. Clearly popular among international MBA students. A convenient class scheduling system allows you to pick out your own schedule, with the option to choose afternoon and evening classes per your convenience. For more details, visit Molson’s MBA page.
9. University of Alberta School of Business
Location: Edmonton, Alberta
Duration: 20 months
Average GMAT Score: 613
Concentrations: Energy Finance; Innovation & Entrepreneurship; Operations & Business Analytics; Public Sector and Healthcare Management; and Strategy & Consulting. An MBA from the University of Alberta’s School of Business equips you with the right knowledge to help you succeed in all kinds of environments – from large corporates to start-ups. The mandatory Capstone Project at the end of the program requires you to work with an external organization, helping them handle a critical real-life problem. For more details, visit Alberta’s MBA page.
10. DeGroote School of Business, McMaster University
Location: Burlington, Ontario
Duration: 20 months
Average GMAT Score: 630
Concentrations: Accounting and Financial Management Services; Finance; Health Services Management; Strategic Business Valuation; Strategic Marketing; and Data Analytics. Housed in the Ron Joyce Centre at the Burlington campus, the DeGroote MBA provides a shuttle service from the main campus at Hamilton. The MBA is available in multiple formats, but the full-time program lasts a minimum of 20 months. An in-house career management service hosts company information sessions, mock interview nights, and one-on-one coaching sessions to help you take full advantage of the course. For more details, visit DeGroote’s MBA page.
Typically, people choose to go in for an MBA because of two reasons: one is in pursuit of pay hikes and another is in pursuit of a career change. An MBA is known to be one of the safest ways to switch careers smoothly and it nearly always guarantees a higher income than before.
Is Canada right for you?
Making the decision about where you want to study your MBA is deeply personal. Each student has a number of factors that will influence their preferences about study destination.
But for visa accessibility, job availability, and quality of life, Canada certainly ticks a lot of boxes.
Information is dynamic and we encourage you to explore Canada as a viable, and excellent, alternative, to the USA, for an MBA in North America. The favourable work permit, and the overall welcoming culture, are compelling reasons to pursue an education in Canada.
Good Luck and hope you find your best fit.
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