Master of Business Administration is pursued by individuals from varied disciplines. Since MBA educates and trains on the business sense, global market and the working of a business, it continues to be the most popular choice in Masters courses. Canada attracts students from different countries for its quality of education. The method of teaching, upgraded course curriculum, the variety of specializations in MBA, internship and job placement opportunities provided by the Canadian universities have made it rank high in the world. Several universities are ranking high in the QS World University Rankings. The first step to studying MBA in a Canadian university is to be prepared financially to begin the procedure. This blog will give you a complete idea on the costs involved to help you take the first step.
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Top Factors That Determine Cost Of Studying MBA In Canada
MBA in Canada for Indian students 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.
|
Type of Expense |
Cost |
|
Application fee |
50 CAD/3,020 INR-154.25 CAD/9,318 INR per application |
|
Academic Test |
15,475 INR-22,400 INR per exam |
|
Additional scorecard |
1,500 INR-2,850 INR per scorecard |
|
Average tuition fee |
40,000 CAD/ 24,16,593 INR – 1,00,500 CAD/ 60,71,690 INR per annum |
|
Canadian student visa fee |
150 CAD/9,170 INR |
Canada MBA Fees For Indian Students
MBA fees for international students in Canada is a major portion of the total MBA expenses in Canada. The exact cost of studying in Canada especially for MBA specializations differ from what you choose and the university. As an international student, you can check the official website of the university for the intake and academic year you want to apply. We have listed the best MBA colleges in Canada for Indian students with fees in the table below.
|
University |
Official university website |
Average Tuition Fee |
|
Ivey Business School, University of Western Ontario |
ivey.uwo.ca |
123,500 CAD/74,61,231 INR per annum |
|
Desautels Faculty of Management, McGill University |
mcgill.ca |
99,500 CAD/60,11,275 INR per annum |
|
Rotman School of Management, University of Toronto |
rotman.utoronto.ca |
136,410 CAD/82,41,186 INR per annum |
|
Smith School of Business, Queen’s University |
smith.queensu.ca/index.php |
104,100 CAD/62,89,183 INR per annum |
|
Schulich School of Business, York University |
schulich.yorku.ca |
112,250 CAD/67,81,564 INR per annum |
Jobs after MBA in Canada
Canada is a land of opportunities. After you complete your MBA at a Canadian university, you can gain employment in the field of your choice in Canada. As an international student, you can build your network while you are studying in Canada and gain employment opportunities through it. You can also apply to job vacancies posted on the job boards or gain placement through your campus. We have listed the top job roles after MBA and their average annual salaries in Canada in the table below.
|
Job role |
Average salary |
|
Financial analyst |
67,045 CAD/40,50,512 INR per annum |
|
Marketing Manager |
77,966 CAD/ 47,10,302 INR per annum |
|
Recruitment Manager |
73,357 CAD/44,31,850 INR per annum |
|
Business analyst |
73,715 CAD/ 44,53,479 INR per annum |
|
Corporate treasurer |
163,873 CAD/ 99,00,359 INR per annum |
Living Expenses Along With MBA Expenses In Canada
After discussing MBA fees for international students in Canada, let’s get onto the living expenses. These are major contributing factors in the cost of studying MBA in Canada. We have listed all the basic and mandatory costs to be covered while staying in Canada as an international student in the table below. It is average cost of studying MBA in Canada.
|
Factors |
Average Monthly Cost |
|
Accommodation |
400 CAD/24,500 INR-600 CAD/36,700 INR |
|
Food & Grocery |
200 CAD/12,053 INR-300 CAD/18,000 INR |
|
Transportation |
100 CAD/6,000 INR-250 CAD/15,000 INR |
|
Internet |
30 CAD/1,800 INR-50 CAD/3,000 INR |
|
Miscellaneous |
600 CAD/36,200 INR-700 CAD/42,200 INR |
Other Essential Cost Of Studying MBA In Canada
Along with the MBA in Canada for Indian students fees and living expenses, there are other essential costs to be covered. We have explained them in detail below.
Visa fee
As an international student, when you apply for a student visa to pursue MBA in Canada, you must pay the visa fee. It is 150 CAD/9,170 INR and the charges for biometric are 85 CAD/ 5,200 INR.
Application fee
When you submit your application form to study MBA at a Canadian university through their official website, you must pay an application fee. It must be paid while submitting the application form online. The fee for each university is different. It ranges between 45 CAD/2,750 INR-200 CAD/12,220 INR.
Overseas student health cover
Some universities offer health insurance to international students. You can check the official website of the university along with MBA tuition fees in Canada. MBA fees for international students in Canada would be inclusive of other costs in that case. It is mandatory to have your health insurance before you apply for your student visa. So, if your university does not provide the cover and the government does not offer the health insurance to international students for the state your university is in, you must purchase a health insurance.
Proof of funds
As per the Immigration office of Canada, international students are required to submit the proof of available funds. This is to cover the living expenses for the duration of stay in Canada to complete MBA. If you are wondering as to how much does it cost to study MBA in Canada, we have listed the funds to be made available for international students in the table below.
|
Region |
Funds required for one year |
Funds required for one month |
|
Outside Quebec |
10,000 CAD/6,10,990 INR |
833 CAD/50,900 INR |
|
Inside Quebec |
Less than 18 years of age: 6,569 CAD/4,01,400 INR 18+ age: 13,134 CAD/8,02,476 INR |
Less than 18 years of age: 547 CAD/33,421 INR 18+ age: 1,095 CAD/66,900 INR |
Pre-Arrival & Post-Arrival Cost Of Studying MBA In Canada
Pre-arrival costs
Pre-arrival costs include entrance exams and flight tickets. These costs are incurred while you prepare to gain admission into a Canadian university to study and after you gain admission. Hence, it is included in Canada MBA fees for Indian students.
Entrance exams
As an international student, you must pass English language test with the minimum score specified by the university of your choice in Canada. IELTS and TOEFL are widely accepted. In addition, GMAT/GRE have to be taken up. Canada MBA fees for international students does not include these costs. The costs associated with each exam are listed in the table below.
|
Test |
Registration fee |
Total number of free scorecards |
Cost per additional scorecard |
|
15,500 INR |
5 |
1,500 INR |
|
|
15,475 INR /190 USD |
4 |
1,629 INR/20 USD |
|
|
GMAT |
22,400 INR/275 USD |
5 |
2,850 INR/35 USD |
|
GRE General Test & GRE Home Test: 17,350 INR/213 USD GRE Subject Test: 12,200 INR/150 USD |
4 |
2,444 INR/30 USD |
|
Also Read |
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Flight tickets
After you gain unconditional offer letter from a Canadian university and have your student visa ready, this is the next step. You must book air tickets from India to the city in Canada where you want to study. The tickets cost anywhere between 1,00,000 INR-2,00,00 INR per ticket. This is included in Canada MBA fees for Indian students.
Medical test
The Government of Canada requires international students to undergo medical test. The reports must be submitted while applying for the student visa. The tests to undertake and the medical professionals will be specified by the government office. All the costs associated with it must be paid upfront.
Post-arrival costs
After you reach Canada, there are certain costs that you must bear. We have detailed them below for your reference.
Tuition fee
Most of the Canadian universities require you to pay first year or first term tuition fee for your MBA in advance. This is before you reach Canada. In case your university accepts payments in installments or requires payment of other fee before your date of joining, you may do so after reaching Canada. The average tuition fee ranges between 49,750 CAD/30,05,637 INR – 133,355 CAD/80,56,620 INR per annum.
Cost of living
The living expenses have been detailed in the corresponding section above. The type of housing you choose and the city you live in is a major component to decide your cost of living. We have listed the types of accommodation for international students in Canada for studying MBA and its costs per month in the table below.
|
Type of Accommodation |
Cost per month |
|
Dormitory |
350 CAD/21,370 INR-600 CAD/36,640 INR |
|
Townhouse |
250 CAD/15,300 INR-650 CAD/39,700 INR |
|
Shared apartment |
400 CAD/24,400 INR-800 CAD/48,850 INR |
|
Unfurnished apartment |
300 CAD/18,300 INR-500 CAD/30,500 INR |
Wrapping up
Now that you have a complete idea on the types of costs involved to study in Canada MBA fees, you can plan further. You can decide on the type of accommodation you want to choose and conclude on the final cost you will incur to study MBA in Canada. Choosing the right MBA specialization and the university in Canada is essential to meet your education goals. For any assistance or guidance in making the right choice, reach out to our Yocket counsellors now!
