MBA in Canada: Top Programs, Cost, ROI & Eligibility 2026

Pursuing an MBA from Canada offers an excellent education at affordable tuition fees to students. The country has several high-quality MBA options for prospective students, offering an affordable alternative to studying in the US.

Many international students from over 150 countries apply for admission at Canadian MBA universities to complete their degrees chosen among 50+ MBA colleges.

The Master of Business Administration or MBA in Canada is one of the most sought-after courses that offer a wide range of career opportunities to graduates worldwide. This two years program provides a chance for a three-year work permit in the country.

To take admission to an MBA course in Canada, international students must meet the entry criteria and have an average GMAT score. Applicants must have a bachelor’s degree and meet English language requirements to study MBA program. Additionally, the applicants must have prior work experience.

Canada is home to some top-ranked universities in the world that offer quality master’s programs to international students. Some MBA universities in Canada are ranked among the top 100 MBA schools in the world in 2025.

The top MBA specialization in Canada is Business Economics and more than 30+ universities are offering this specialization. Other popular programs are: Finance, International Business, Healthcare & Hospital, Human Resources, Public Policy, Business Analytics and Operations.

Top 10 MBA Colleges in Canada

Canada is home to some top-ranked universities in the world that offer quality master’s programs to international students.

MBA Colleges in Canada according to Quacquarelli Symonds Global MBA Ranking 2025:

Toronto (Rotman) — #39
McGill (Desautels) — #66
Western (Ivey) — #76
Queen’s (Smith) — #91
UBC (Sauder) — #101
York University — #101
University of Alberta — #131
Concordia University — #141
HEC Montréal — #151
McMaster University — #151

Types of Master in Business Administration (MBA) in Canada

The location and the language of teaching, since a couple of states are French-speaking are elements to consider by international students. Mentioned below are the types of MBAs in Canada and their course module:

Full-Time MBA – This is a traditional MBA program that typically lasts for one or two years. This program will build a complete understanding of business and management and is available for students who want to study full-time.
Part-Time MBA – which is usually flexible and can be completed in two to four years. This MBA program is for working professionals who want to earn an MBA while continuing to work.
Executive MBA (EMBA) programs are typically part-time and allow students to continue working while earning their MBA degree. EMBA curriculum will focus on developing strategic thinking and decision-making skills.

Tuition fees

The annual MBA tuition fees in Canada range between 16,000 CAD and 64,000 CAD. However, a majority of the universities have tuition fee between 48,000 CAD – 64,000 CAD. The cost of living in Canada is around 19,000 CAD per annum (approximately USD 13,500). The living cost would be subject to increase/decrease depending on the lifestyle and preferred accommodation of the candidate.

Check the 2026-tuition fees for the top-ranked MBA colleges in Canada from the table given below:

University of Toronto — 30,300 CAD – 78,000 CAD
Western University — 14,000 CAD – 13,000 CAD
UBC — 10,000 CAD – 104,000 CAD
McGill University — 95,000 CAD
HEC Montreal — 60,000 CAD
University of Calgary — 48,000 CAD
Queen’s University — 10,000 CAD
York University — 59,000 CAD

MBA Scholarships for Canada

International MBA students in Canada can apply for many scholarships. Candidates seeking MBA scholarships to study in Canada can view the most comprehensive study-abroad scholarships. A few of the scholarships available for MBA students are Ontario Graduate Scholarships, University of Calgary International Entrance Scholarship, Academic Excellence Fund, etc.

MBA in Canada Student Visa

International students who wish to study an MBA in Canada must have a Canadian Student Visa for admission to top Universities in Canada. This permit is issued to students upon arrival in Canada.

MBA Requirements in Canada

Candidates looking to pursue an MBA in Canada are required to fulfil these primary requirements:

Students must have a bachelor’s degree in any discipline. Make sure to meet the minimum entry requirement
Most universities require GMAT or GRE scores for admission
Students must appear in English proficiency tests such as IELTS, TOFEL, and PTE followed by a personal interview conducted by some universities to pursue an MBA in Canada
2 -3 years of work experience is mandatory for getting enrolled in various Canadian universities

ROI and Career Prospects for MBA students in Canada

MBA Jobs in Canada are lucrative and can increase the potential earnings. Apart from top-ranked universities, high-paying job is the major reason to pursue an MBA in Canada.

The annual MBA tuition fees in Canada range between 16,000 CAD and 64,000 CAD. However, a majority of the universities have tuition fee between 48,000 CAD – 64,000 CAD.

Three major provinces: Toronto, Vancouver, and Montreal have some of the biggest job markets in Canada. Toronto is home to Canada’s largest financial services sector. According to the technology and networking hub, MaRS, there are more than 12,000 firms in Toronto. It is one of the biggest providers of jobs in financial services.

Apart from this, British Columbia is becoming a leading economic powerhouse in Canada. Financial services and technology are the two leading industries offering jobs to MBA graduates in Canada.

The table given below provides the salary after MBA in Canada from top MBA colleges*:

MBA College in Canada	Tuition Fees	Salary after MBA
Toronto (Rotman School of Management)	CAD 67,532 (1st year)	CAD 104,622
Western (Ivey Business School)	CAD 126,600 (1st year)	CAD 107,850
McGill (Desautels Faculty of Management)	CAD 99,500 (1st year)	CAD 93,389
Queen’s (Smith School of Business)	CAD 105,100 (Total)	CAD 100,406
York (Schulich School of Business)	CAD 112,250 (Total)	CAD 98,165
UBC (Sauder School of Business)	CAD 94,559 (Total)	CAD 98,336
Alberta School of Business	CAD 65,000 (Total)	CAD 125,540
Concordia (John Molson)	CAD 47,900 (Total)	CAD 104,321
HEC Montréal	CAD 59,000 (Total)	CAD 122,202
Dalhousie University	CAD 91,320 (Total)	CAD 165,900

* The rankings of the colleges are based on the QS Global MBA Rankings Canada 2023.

After completing an MBA from Canada, students can work in various sectors such as Consulting, General Management, Finance and Accounting, IT Services, etc. The top recruiters in Canada for MBA graduates are Apple, Amazon, Bank of America, EY, KPMG, HSBC, Deloitte, etc. The average salary in Canada for MBA graduates can be around CAD 88,000 per year (Around INR 54 lakh).

Is it Worth Pursuing an MBA in Canada?

Pursuing an MBA in Canada can be a great option for individuals seeking quality education at an affordable price compared to the US:

Here are some points to consider when evaluating the worth of pursuing an MBA in Canada:

Quality Education: The respected MBA programmes offered by Canadian colleges are renowned for their excellent standards of instruction. You may count on getting a quality education that satisfies international standards even if the cost is low.

Affordability: The cheapest MBA in Canada can considerably lessen the expense of earning a master’s degree. It enables you to acquire the abilities and information required for a prosperous business career without accruing a significant amount of student loan debt.

Return on Investment: Despite the more affordable initial cost, it is crucial to take the prospective return on investment (ROI) into account. To determine the potential financial advantages of earning an MBA, investigate the employment market and typical earnings for MBA graduates in Canada.

Networking Opportunities: MBA programmes offer fantastic networking possibilities, enabling you to get in touch with professionals in your field, other students, and alumni. These relationships may be useful for future employment chances, business collaborations, and career aspirations.

Scholarships: Explore the financial assistance and scholarships at Canadian universities. Even though the MBA programme has a low total cost, scholarships can help you ease your financial load and increase the value of your investment.

Faculty and Research: Examine the credentials and subject-matter knowledge of the MBA program’s professors before applying. As this can significantly improve the quality of education and the learning experience, look for colleges with faculty who have both industry experience and a solid research background.

Location: Take into account the university’s location and how close it is to important commercial areas and sectors. Having flourishing business communities nearby can open up more networking and internship opportunities.

Long-Term Goals: Consider how an MBA would fit with your long-term objectives and desires for your career. Think about the experiences, information, and skills you hope to gain from the programme and how they will advance your career.

Rankings: Verify the accreditation and reputation of the university and the MBA programme on a national and/or international level. Rankings and accreditations can show how well-regarded and high-quality a programme is.

Conclusion

Studying at an affordable MBA college in Canada does not mean low academics — some of the cheapest MBAs in Canada have lower tuition fees due to government subsidies, company sponsorships, or other factors.

The best way to judge the academic standards of MBA colleges in Canada with low fees is to look at their career outcomes, course curriculum, faculty profiles, internship opportunities, top recruiters, etc.

Canada is not just a popular study destination, but because of immigrant-friendly policies, it has become a preferred destination for job seekers as well. Those who are looking to pursue MBA in Canada must be keen to know about the job market in the country.

Deciding to invest time and money in an MBA program in Canada has many chances to revert into a positive decision, especially because of the career prospects once the student has completed the program, and the recognition and transferability that the degree benefits not only in Canada but at a global level.