Cost of Studying MBA in Canada: Know About MBA in Canada For Indian Students Fees Image
MBA: The Why, The Whats & The Hows

Cost of Studying MBA in Canada: Know About MBA in Canada For Indian Students Fees

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Yocket Editorial Team
5 mins read
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Known for its booming economy and cultural diversity, Canada attracts a wide range of international students worldwide. With a high standard of living, a low cost of tuition, a quality education, multicultural exposure, and friendly post-study or working rules, this country is a popular choice with international students. Moreover, it is ranked among the top five destinations for the pursuit of higher education in the world. Aside from being one of the safest places to live in the world, Canada is regarded as one of the world's premier education destinations. As per the Canadian Bureau of International Education, there were over 3,53,000 international students in Canada, with a significant increase of over 90% since 2008.

  Table Of Contents:

  1. A Brief Overview of Studying MBA In Canada
  2. Factors Influence The Cost Of Studying MBA In Canada
  3. List Of Top MBA Universities In Canada
  4. Cost Of Living In Canada
  5. Frequently Asked Questions About Cost of Studying MBA in Canada

Overview of Studying MBA In Canada 

Obtaining an MBA in Canada can turn out to be an expensive affair if you do not make a well-informed decision considering all the details and aspects involved. Although compared to other countries, Canadian higher education is a more affordable option for international students. Students are encouraged to choose Canada for their further studies due to its excellent quality of education and the availability of an readily accredited Canadian degree. An MBA program offers students the opportunity to pursue a lucrative career, but you must first understand the MBA tuition fees in Canada. Besides, more Indian students are choosing to pursue their higher education in Canada. So, before going into the detailed cost of MBA in Canada in Indian Rupees, gain an understanding of some of the major expense categories involved.

Factors Influencing Cost Of Studying MBA In Canada

Tuition fees, the cost of living, and other expenses are major factors that determine an international student's decision to study MBA in Canada. Depending on the student's lifestyle, budget, and spending habits, the cost of living can vary greatly. However, understanding the estimated MBA fees structure in Canada can give students an overview of overall costs associated with studying in Canada.

  • Keep in mind that all charges are in Canadian dollars (CAD).
  • Most importantly, a non-refundable application fee of around CAD 145 is required before an applicant can apply to a full-time MBA program in Canada (both Canadian and international).
  • International students may be charged a different application fee depending on the institution/university.

See the table below for the cost of doing MBA in Canada for Indian students:

Types of Expenses 

Costs

Application Fees 

CAD 50 to CAD 150 (INR 3,024 to INR 9,073) per university

Academic Test 

CAD 100 to CAD 200 (INR 6,049 to INR 12,101) per exam

Score Reporting 

Typically costs up to CAD 20 (INR 1,210) per university

Average Tuition Fees 

CAD 34,000 to CAD 120,600 (INR 20,56,843 to INR 72,95,711) per year

Canada Student Visa fee

CAD 150 (INR 9,075)

Normally, the Canada university MBA fees vary depending on the university and program you choose. Furthermore, most universities charge different fees for international and local students. International students tend to be charged more than local Canadians. Nevertheless, when compared to MBA colleges in the UK, USA, and Australia, Canada has the lowest tuition fees. Students may be charged higher or lower fees in a particular year, depending on the revaluation of the university. 

Tuition Fees at Top MBA Universities In Canada

MBA programs at Canada's top universities are designed with the latest curriculum to ensure a high level of education. As for the facilities on campus, student support, and infrastructure, they are also on par, providing international students with a comfortable, home-like atmosphere. The following are some of the best MBA colleges in Canada for Indian students with fees:

University

Tuition Fees 

(Per Year)

Ivey Business School, University of Western Ontario

CAD 1,11,750 

(INR 67,60,615) 

Desautels Faculty of Management, McGill University

CAD 44,500 

(INR 26,91,406)

Rotman School of Management, University of Toronto

CAD 59,450 

(INR 35,96,587)

Smith School of Business, Queen’s University

CAD 91,000 

(INR 55,04,830)

Schulich School of Business, York University

CAD 52,040 

(INR 31,47,605)

In Canada, students are able to choose either full-time or part-time MBA programs. A typical MBA course lasts for one to two years; however, part-time MBA programs may last up to 2.5 years or longer. Furthermore, the tuition fees of these colleges are also reasonably priced, making them ideal for Indian students from middle-class families. Several colleges in Canada also offer scholarships and financial aid to deserving students, to encourage them to attend MBA programs there.

Cost Of Living In Canada While Doing MBA

Apart from MBA cost in Canada in INR, other expenses to consider include the accommodation fee, transportation, and various personal expenses. 

  • Generally, it will depend on which city you choose to live in and what type of accommodation you choose. 
  • There are three types of accommodations for students: university accommodation, the private apartment stays, and shared accommodations. 
  • The cost of these expenses could range from CAD 950 to CAD 14,000 (INR 57,441 to INR 8,46,508) per year.
  • An average university on-campus accommodation costs about CAD 3,000 to CAD 7,000 (INR 1,81,426 to INR 4,23,327) per year. 
  • Off-campus shared accommodation can cost as much as CAD 8,500 (INR 5,14,036) per year for college students who prefer to have their own space. 
  • In cities like Quebec, Montreal, and Ottawa, the cost of living is less expensive, and the average monthly living expense is between CAD 800 and CAD 1,500 (INR 48,387 to INR 90,722) per year. 

Suggested: Best cities to study in Canada

On the other hand, living in Vancouver and Calgary may prove to be an expensive proposition. In these popular cities, accommodations can cost up to CAD 2,200 (INR 1,33,059) per month. In order to shop at local supermarkets and shopping centers in Canada, students should set aside approximately CAD 300 (INR 18,144) per month. For the cheapest shopping outlets, students can visit Walmart and Canadian Superstores.

A Post-Graduation Work Permit (PGWP) may be issued to students who have earned their MBA from an institution recognized by the government of a province or territory. Students enrolled in a 2-year MBA program can stay for a maximum of three years after completion. In addition, for programs with a duration from 8 months to 2 years, students may stay for the full duration of the study program. Moreover, students who are eligible can apply for permanent residency through the Express Entry program.

Frequently Asked Questions About Cost of Studying MBA in Canada

Ques. Are there any reasons to pursue an MBA in Canada?

Ans. There are several reasons why an MBA degree from a Canadian university is in demand. As a result of fierce competition from popular universities in the United States and Europe, Canadian universities now rank at the top of the top 100 Global MBA Rankings.

Ques. Does Canada have an expensive MBA program for Indian students?

Ans. In comparison to the US and UK, MBA programs from Canada are more affordable, but more costly than MBA programs from Asian countries.

Ques. What is the IELTS score requirement for MBAs in Canada?

Ans. A candidate must have a minimum of 76% in their undergraduate degree to pursue an MBA in Canada. For Canada MBA programs, the minimum IELTS band is around 6.5. For TOEFL, the minimum score is 100.

Ques. What is the most in-demand MBA in Canada?

Ans. In addition to consulting and finance, technology is becoming increasingly popular among MBA graduates in Canada.

Ques. Is it possible to study MBA in Canada without money?

Ans. A fully funded scholarship is needed to study MBA in Canada without money, which is practically impossible. If you are lucky enough to get a fully funded scholarship, there will still be additional costs such as visa fees, registration fees for specialized tests, application fees, and other expenses such as books, transportation, etc.



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