Known as one of the eight most industrialized nations of the world, Canada is recognized as a leader in business and industry. After US and UK, Canada is becoming one of the most sorted out destinations
Known as one of the eight most industrialized nations of the world, Canada is recognized as a leader in business and industry. After US and UK, Canada is becoming one of the most sorted out destinations for management studies. There are 5 business schools in Canada which offer an MBA that come in the top 100 world MBA ranking (Financial Times Global MBA Rankings 2011) .Canada offers a high quality, affordable education that is recognized over the globe. Moreover, Canada posses a safe, secure, healthy, multicultural and welcoming environment for international students. All Universities and Colleges of Canada offer excellent academic programs and teaching.
Eligibility for Admission:
Admissions to Canadian business schools are extremely competitive.
Almost all Canadian Business Schools require 16 years of undergraduate education, i.e, four years of education after High School/Junior College.
If you have completed a three-year degree program like BSc, BA, BCom an Indian universities, it is advisable to do a Post Graduate degree like MSc, MA or Mcom, before applying to business schools in Canada.
A one-year university affiliated program will make up for the fourth year required. The key point is to ensure that the program that you do is a recognized university program.
Most business schools in Canada require a minimum GPA of 3.0 - 3.5 (More than 70%) for admission to the MBA program.
GMAT: It is one of the most important criteria for admissions and is required for most of the MBA programs in Canada. The average Graduate Management Admission Test (GMAT) score required by MBA schools in Canada is 550, ranging from a low of 500 to a high of over 600. GMAT is required not just for admission to the MBA program but also for student visa
TOEFL: It is required for admission to almost all MBA programs in Canada. The minimum scores required for most universities range from 550 to 600 on the paper based TOEFL and 213 to 250 on the computer based TOEFL. IELTS score is acceptable to most business schools as an alternative of TOEFL.
Work Experience: Most Business Schools in Canada ask for a minimum of 2-3 years of work experience for admission to the MBA program. Though some business schools may accept students without any work experience, preference will be given to candidates with work experience.
Letters of Recommendation
Students should obtain letters of recommendation (often on the prescribed forms sent by the institutions) from teachers who know them as a person as well as a student. You may like to request your author to give concrete examples that show your qualities, strengths etc. to help your case.
We would advise that, even if not mentioned, one must include a letter of recommendation in your applications as it increases your chances of getting admissions.
The personal essays play a very important role in the process of evaluating your application. A personal statement or essay should include your reasons for choosing the MBA program, the suitability of your education and experience, your personal interests and career goals. Most Business schools have their own essay questions and format. Others may ask for a résumé or reasons for applying to that particular course.
Top MBA institutions in Canada:
There are more than 100 world- class B- Schools in Canada out of which we are giving the list of top 10 Management Institutions:
- Richard Ivey School of Business at the University of Western Ontario
- Schulich School of Business, York University, Toronto, Canada
- McGill Faculty of Management, Montreal, Quebec, Canada
- Sauder School of Business, Univ of British Colombia, Vancouver, Canada
- Queen's School of Business, Queen's University, Kingston, Ontario, Canada
- Simon Fraser Univ, Faculty of Bus Admin, Burnaby, B.C., Canada
- University of New Brunswick MBA, Saint John
- University of Calgary, Haskayne School of Business, Alberta
- Faculty of Business, University of Victoria, British Colombia
10. Michael G. DeGroote School of Business, McMaster University, Ontorio
Tuition fees, living cost and expenses
MBA programs in Canada are considerably more reasonable than in the US. The average cost of tuition and residence fees for top tier schools in the US is Rs.39 Lakh as compared to an average of Rs.30 Lakh in Canada.
Generally, the tuition fees ranges from Rs.5 Lakh per year to Rs.13 Lakh per year. Although in some schools, it soars upto Rs.17 Lakh for the entire program.
The average cost of accommodation in Canada is about Rs.20, 000 - Rs.40, 000. The living cost varies from Rs.3 Lakh to Rs.6 Lakh per year. In big cities like Montreal and Vancouver, the expenses are quite high.
Scholarships and Financial Aids
The Commonwealth scholarship is one source of funding for Canadian Universities at the post-graduate level (for Masters in Canada), but is given to a very limited number of students of exceedingly high intellectual level who live in Commonwealth countries. Some schools may offer scholarships specifically for international students based in their merit. A part-tuition fee waiver by the institute is the most commonly awarded aid for an MBA.
You need to possess an excellent academic background or a brilliant GMAT scores or both to avail the scholarships and financial aids.
While the US dominates, Canadian schools are quietly but rapidly improving their standards and can be considerably cheaper. So for all the Indian students planning to pursue your MBA in Canada, acquiring a Canadian MBA degree would give you an edge over the others. Moreover, this degree would be recognized around the world as being of the highest standards. So, Canada is the place for you if you are seeking a high quality of life above anything else.