Top Business Schools in Canada: Courses, Eligibility, Costs, Scholarships and Salaries
Canada has firmly established itself as a renowned study destination, particularly when it comes to business and entrepreneurship programs. Not only can students pursue an MBA in Canada, but they also have access to a wide array of educational options, including diploma programs, continuing education certificates, and combined bachelor’s degree programs, all offered by some of the best business schools in Canada.
Canada holds an esteemed position globally, being among the top three countries, along with the USA and the UK, with a significant number of world-ranking business schools. What makes Canada particularly attractive is its cost-effective approach to education, making it a compelling choice for Indian students when compared to the higher expenses associated with studying in the US and the UK.
The best business schools in Canada provide a comprehensive curriculum, ensuring students acquire a strong foundation in business ownership and management during their initial year of study. This foundational year typically covers crucial subjects such as business law, communication, finance, statistics, and more. As students progress, they gain the valuable opportunity to tailor their education by selecting specializations that align with specific areas of interest within the business field, thereby offering a customized and enriching learning experience.
The combination of Canada’s dynamic educational environment and affordability, along with the chance for specialization, positions the country as an increasingly appealing choice for aspiring business professionals from around the world.
Globally Ranked Business Schools in Canada
If you’re seeking world-class business education, Canada is home to some globally ranked business colleges that can pave the way for a successful career. The following list is based on the QS World University Ranking for the year 2022:
| College/University | Global Ranking | Business Programs Offered |
| University of Toronto | 26 | 8 undergraduate degree; 1 graduate degree |
| McGill University | 27 | 4 Bachelor degree; 9 Master’s degree; 1 Executive Master’s degree; 3 Diploma courses; 2 Graduate certificate courses; 1 Certificate course |
| Western University | 170 | 1 MBA course; 1 EMBA course; 1 Ph.D. course; 1 minor course; 1 Certificate and diploma course; + more combined degree programs |
| Queen’s University | 216 | 1 M.Sc course; 1 Ph.D. course |
| York University | 494 | 8 undergraduate program; 3 graduate program |
Business Schools in Canada: Specializations and Degrees
In Canada, students have the opportunity to explore a wide range of specializations within business courses, allowing them to carve out a distinct niche for themselves in terms of employment and career growth. According to a recent report by the Canadian Business Journal, individuals holding an MBA degree from a top Canadian university find it 27% easier to secure prestigious job titles.
With numerous specializations available in Canadian universities, it’s beneficial to be aware of the most popular choices among students today:
- Business Communication
- Business Management
- Business Law
- Marketing
- Canadian Business
- Professional Business Communication
- Business Valuation
- Strategic Management in Business
- Business Financial Accounting
- Human Resource Management in Business
- Business Analytics
- Business Economics
- International Business Administration
- Business Entrepreneurship
- Business Strategies Specialist
- Business Administration with IT
Canadian business colleges offer a comprehensive range of business study options, catering to students at all levels, from undergraduates to graduates and doctoral programs with research opportunities in Canada. The degrees available include:
- Undergraduate Degrees: BA/BBA
- Graduate Degrees: MA, M.Sc, MBA, MFA, IMBA, B.C.L., L.L.B.
- Doctorate Degrees: PhD
Additionally, there are numerous diploma and certificate courses that hold significant value in the corporate sector, providing diverse avenues for career development.
Business Colleges in Canada: Undergraduate Programs
Several colleges and universities in Canada offer bachelor’s degree programs in business. Before delving into the institutions, it’s essential to understand the eligibility criteria and the duration of these programs.
Duration: Typically, undergraduate business programs in Canada span 2 to 4 years, with the exact duration varying based on the chosen specialization. The following are among the most popular undergraduate business courses in Canada:
| Program | University | Duration | Yearly fees in CAD |
| Bachelor of Business Administration | University of Toronto | 4 years | 74,470.70 |
| Bachelor of Commerce in International Business (Vancouver) | The University of British Columbia | 4 years | Approximately 66,491.70 |
| Bachelor of Business Administration | York University | 4 years | 47,874.02 |
| Bachelor of Business Administration / Bachelor of Computer Science | University of Waterloo | 4 years | 57,182.86 |
| Honours Bachelor of Business Administration (Finance) | Sheridan College | 2-4 years | 27,546.56 |
Business Colleges in Canada: Eligibility for Bachelors
While specific universities in Canada may have varying eligibility criteria, certain standardized tests are commonly required for undergraduate business degree programs. Here are the general eligibility requirements for applying to bachelor’s programs in business at Canadian universities:
- English Language Proficiency: International students are typically required to demonstrate their English language proficiency through standardized tests. Commonly accepted tests include IELTS (with a score of 6.5 or equivalent), TOEFL (with a score ranging from 84 to 95), and PTE (with a score ranging from 60 to 65).
- High School Diploma: Candidates must possess a high school diploma or an equivalent qualification from a recognized educational board to be eligible for bachelor’s degree courses.
It’s important to note that some colleges or universities may have specific additional requirements beyond these general criteria. International applicants should be aware that eligibility criteria may vary among institutions. However, IELTS, TOEFL, and PTE scores are often considered the minimum language proficiency requirements for admission to BBA and other bachelor’s degrees in business in Canada.
Business Colleges in Canada: Fees & Funding for Bachelors
Pursuing undergraduate business courses in Canada can be a rewarding endeavor, but students may encounter challenges when seeking scholarships. While some institutions, like the University of Toronto, do not typically offer scholarships for undergraduate business programs, others are more generous with funding opportunities.
Here are some universities in Canada that provide students with the chance to access scholarships, making it more affordable to pursue a degree:
- University of British Columbia
- York University
- University of Alberta
These institutions offer scholarships that can significantly offset the cost of education, allowing students to pursue their degrees with lower academic fees.
When it comes to the yearly course fees for undergraduate business programs in Canada, they can range from CAD 27,000 to CAD 74,090, depending on the university and specialization.
It’s essential for aspiring students to explore scholarship options at their chosen institutions to make higher education in Canada more accessible and affordable.
Business Colleges in Canada: Postgraduate Programs
As mentioned earlier, MBA programs stand out as the most preferred courses in Canada among international students. The compelling reasons behind this choice are evident: promising job prospects and lucrative median salaries.
Duration: Typically, MBA programs in Canada have a duration of 2 years. However, there are Executive MBA programs that offer a more accelerated path, with a duration of just 13 months. Let’s explore the most favored MBA programs in Canadian colleges, as recognized by international students:
| Program | University | Duration | Yearly fees in CAD |
| Masters of Business Administration (specialization: Management) | University of Toronto | 2 years | 83,399 |
| Masters of Business Administration (specialization: Business Analytics) | McGill University | 2 years | 60,792 |
| Masters in Business Administration | The University of British Columbia | 2 years | 85,489 |
| Masters in Business Administration | York University | 2 years | 72,190 |
| Master of Business Administration | University Canada West | 2 years | 22,037.25 |
| Executive MBA | Western university | 12-13 months | 90,808.66 |
| MBA in Finance | University of Alberta | 2 years | 39,515.06 |
Other Popular Master's in Business Degrees in Canada
In addition to MBA programs, Canada offers a diverse range of other sought-after master’s in business degrees, including:
- Master’s in Business Analytics in Canada
- Master’s in Business Management
- Master’s in International Business in Canada
Business Colleges in Canada: Eligibility for Master's Programs
- Proficiency in English Language: International students are generally required to demonstrate proficiency in the English language, often by providing a satisfactory score in standardized tests such as IELTS or TOEFL.
- Mathematics Background: Some universities may have prerequisites that include having mathematics as a compulsory subject up to the 12th grade. This requirement may vary by institution and program.
- GMAT Scores: Many universities and colleges in Canada give significant consideration to GMAT scores during the admission process.
Business Colleges in Canada: Fees and Funding for Masters
Canadian universities are known for offering scholarships and unique facilities, which contribute to the increasing number of international students enrolling in Canadian universities each year, currently at 5.9%.
Students can typically expect significant fee reductions, ranging from 25% to 50%, through scholarships offered by these universities. Moreover, some universities provide accommodation options, further enhancing the appeal of studying in Canada. Therefore, making a well-informed choice when selecting a college or university for your postgraduate business degree is crucial.
The approximate cost of an MBA program in Canada can vary widely, from $22,000 to $90,000. However, with the availability of scholarships, students can often reduce these costs by up to half.
Business Colleges in Canada: Doctoral Programs
For students seeking better career prospects and designations, pursuing doctoral degrees in business becomes an attractive option. Canadian colleges and universities excel in offering reliable and globally recognized doctoral programs in business.
Duration: Doctoral courses typically have a duration of 4 years. Some colleges in Canada also offer Ph.D. degrees in business, and the following institutions are highly popular among international students:
| Program | University | Duration | Yearly fees in CAD |
| Doctor of Business Administration | Royal Roads University | 4 years | 21,478.64 |
| Business Administration (Management), Ph.D. | Saint Mary’s University Sobey School of Business | 3 years | 14,597.43 |
| Ph.D. in business Administration | McMaster University | 4 years | 7,003.37 |
| Doctorate in Business Administration | Athabasca University | 4 years | 13,395 |
Business Colleges in Canada: Eligibility for PhD
To gain admission to doctoral programs, students typically need to achieve a higher score in English language proficiency tests such as IELTS or TOEFL. Proficiency in the English language is considered mandatory for enrollment in doctoral business courses at Canadian colleges. Additionally, candidates may be required to pass an entrance test specific to the university and provide a Statement of Purpose (SOP) for Canada as part of their application.
Business Colleges in Canada: Fees & Funding for PhD
For doctoral programs in business, students can expect to spend approximately $7,000 to $21,000 per year as tuition fees. Moreover, some colleges and universities offer the opportunity for students with a master’s degree in a related field to gain admission with the added benefit of scholarships.
It’s important to note that institutions offering scholarships for doctoral programs often have a limited number of seats available for international students. Therefore, staying updated with the latest notifications on the official websites of universities is crucial to ensure timely application.
Business Colleges in Canada: Scholarships Offered
Studying in Canada encompasses not only tuition fees but also living expenses, which can significantly contribute to the total cost of sustaining oneself in the country. Thankfully, international students have access to various scholarships designed to support their studies in Canada. Here are some of the popular scholarships available:
| Scholarship | Scholarship is given by | Scholarship is given to | Amount of the scholarship |
| Lester B. Pearson International Scholarships | University of Toronto | International students with academic excellence | Tuition, books, incidental fees |
| Carleton University Awards for International Students | Authority of the university | All graduate students | Varies |
| Dalhousie University Scholarship | Authority of the university | All graduate students | Varies |
| University of British Columbia Scholarships for International Students | University of British Columbia | Undergraduate International students | Tuition and books |
| BBA Entrance Scholarships @ HEC Montréal | HEC Montréal. No separate application is required. US | International students of BBA | $7500 |
| York University International Student Scholarship | York University | International students with academic excellence | CAD$60,000-$100,000 |
| Vanier Canada Graduate Scholarships | Government of Canada | Doctoral students | CAD$50,000 |
Business Colleges in Canada: Jobs and Salaries
As students progress from a basic bachelor’s degree in business to a doctorate, they not only increase the number of opportunities available to them but also elevate their potential salary packages. Here’s an overview of the salary growth in the business sector in Canada, along with other essential statistics:
Job Roles and Corresponding Salaries in Canada for Business Graduates:
| Designation | Average Annual Salary in CAD |
| Account Coordinator | 116,000 |
| Assistant Manager | 146,000 |
| Business Development Manager | 174,000 |
| CEO | 268,000 |
| Chief Financial Officer | 243,000 |
| Corporate Director | 186,000 |
| Private Sector Executive | 155,000 |
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