Management degree programs are preferred among students all over the world. MBA abroad program gives students international exposure to the business world. Many international students from over 150 countries apply for admission at Canadian MBA universities to complete their degrees. Canada has many top-ranked universities that offer the best MBA programs with expert faculty and professional opportunities. Canada’s two-year full-time Master of Business Administration program provides a chance for a three-year work permit in the country.
Are you willing to pursue MBA in Canada at an affordable budget? Then this article will help you surely. In this article, we are going to check the list of the top 7 cheap MBA colleges in Canada.
Why Study MBA in Canada?
Before we learn about the cheapest MBA in Canada for Indian students, let us look at the top reasons to pursue an MBA in Canada:
Predict your English proficiency score by sharing few details
- Quality Education: The education offered at the universities in Canada is of the highest calibre. Canadian MBA programmes offer challenging academic preparation, real-world business experience, and chances for experiential learning.
- Affordability: Canada is frequently more economical to study for an MBA than nations like the US and the UK. International students can find lower tuition costs at Canadian universities as well as financial aid and scholarship options.
- Internship and Co-op Programs: Many MBA programmes in Canada provide co-op and internship opportunities, enabling students to get useful work experience while still in school. Their abilities can be improved by this practical experience, which will also increase their marketability for jobs.
- Multicultural Environment: It is possible to interact with students from various backgrounds when pursuing an MBA in Canada, which is known for its cosmopolitan population. Through exposure, you can extend your cultural perspective, improve your intercultural communication abilities, and get ready for international business settings.
- Strong Economy and Job Opportunities: With growing job sectors in Canada including technology, finance, healthcare, and natural resources, Canada has a robust and stable economy. A Canadian MBA can lead to a variety of work options and career advancement, both domestically and abroad.
- Networking and Alumni Connections: Numerous alumni networks and connections to the business world exist for Canadian universities. During your MBA programme, networking with alumni and business leaders in your field might be advantageous for future employment opportunities.
- Post-Study Work Opportunities: International students can work in Canada after receiving their MBA with the help of PGWP Canada, where they can get important job experience. This may be a chance to put the information and abilities picked up during the programme to use and possibly make the move to Canadian employment or permanent residency.
- High Standard of Living: Canada is known for its high standard of living, safety, and quality healthcare. Studying in Canada provides access to a safe and welcoming environment that supports personal and professional growth.
- International Recognition: An MBA degree from a Canadian university is internationally recognized and respected. It can enhance your credibility and increase your chances of career advancement globally.
- Research Opportunities: Universities in Canada are famous for their contributions to research in many different sectors. You can have the chance to work on research projects and collaborate with professors on innovative research projects as an MBA student.
It is significant to keep in mind that the value of pursuing an MBA in Canada may differ based on unique circumstances, professional objectives, and personal preferences. To make an informed choice, it is advised to conduct in-depth research on and evaluation of various MBA programmes, taking into account elements including curriculum, faculty, alumni success, and student happiness.
Cheapest MBA in Canada for International Students
Studying abroad can be expensive and can take a toll on your expenses. It is important for students to know about the cheap MBA colleges in Canada so that they can pursue an affordable MBA without compromising on the quality of their education. Let us now look at the details of low cost MBA in Canada:
1) Memorial University of Newfoundland
Ranked among the top universities in the world, the Memorial University of Newfoundland is the best choice for studying MBA in Canada. The majority of the school’s students are part-time, and they have up to 8 years to complete their degree. This university has four campuses split across St. John's, Grenfell, and Harlow.
- Accreditation: AACSB
- 1st-Year Tuition Fee: INR 10.41 lakhs
- Duration: 1.5-2 Years
- QS World University Ranking 2024: 641-650
2) University of Northern British Columbia
Located in northern British Columbia, UNBC is one of Canada’s best universities for MBA study. British Columbia is the best research university known for its teaching and research in the world. MSc in Business Administration is offered by the School of Business to educate and train business professionals with advanced research skills and knowledge in the following specialized areas - Finance, HR, Management/organisational behaviour, Marketing, Operations management/international business.
- Accreditation: UArctic, ACU, AUCC, IAU, CIS, AUFSC, CBIE, CUP
- 1st-Year Tuition Fee: INR 9.24 lakhs
- Course Duration: 2 Years
- QS World University Ranking 2024: 781-790
3) University of Manitoba
The University of Manitoba is the first university in western Canada. Ranked among the top universities in Canada for MBA study. Manitoba, which ranks well on the QS World University Rankings 2024, attracts students from all over the world. Students can apply for the Master of Business Administration program at this university by meeting the admission criteria.
- Accreditation: AACSB
- 1st-Year Tuition Fee: INR 29.87 lakhs
- Duration: 2 Years
- QS World University Ranking 2024: 671-680
4) University of Saskatchewan
Listed among the top 500 Universities in the world, the University of Saskatchewan is known for its quality education at UG and PG levels. The MBA programme at the University of Saskatchewan is offered by Edwards School of Business. It provides students with a theoretical background in contemporary finance issues and a strong foundation in empirical methods. It has a research-intensive nature. Especially for students who wish to pursue a PhD.
- Accreditation: AACSB
- 1st-Year Tuition Fee: INR 33.93 lakhs
- Duration: 2 years
- QS World University Ranking 2024: 345
5) University of New Brunswick
The MBA/JD is a joint degree, which is extremely useful in today's dynamic business world where laws and regulations are constantly changing and affecting the way business is conducted. While this joint degree is open to students at the University of New Brunswick, who may not have a business degree, if students have previously completed a BBA, they may be given advanced standing toward meeting the MBA requirements.
- Accreditation: AUCC, CARL, IAU, CIS, CVU, ACU, CUSID, AUS, AUFSC, CBIE, CUP.
- 1st-Year Tuition Fee: INR 12.57 lakhs
- Duration: 2-4 years
- QS World University Ranking 2024: 711-720
6) University of Waterloo
The University of Waterloo is one of the top-ranked universities in Canada known for its excellent education. The University offers a Master of Business, Entrepreneurship and Technology (MBET) course that is 1-year in duration. The course teaches various subjects such as Applied Business Leadership Skills for Entrepreneurs, Accounting, Entrepreneurial Finance for Technology-based Enterprise, Technological Innovation, etc.
- Accreditation: AACSB
- 1st-Year Tuition Fee: INR 42 lakhs
- Duration: 1 year
- QS World University Ranking 2024: 112
7) University of Ottawa
The program is designed to train experts who can contribute to academic excellence and influence change in society by undertaking and disseminating rigorous academic, applied and policy research in management. Students in the program at the University of Ottawa may opt to complete a concentration in either innovation management or entrepreneurship.
- Accreditation: ACU
- Tuition for international students: INR 40.89 lakhs
- Duration: 2 years
- QS World University Ranking 2024: 203
Association to Advance Collegiate Schools of Business
European Quality Improvement System
Canada’s Association of Information Technology Professionals
Certified Management Accountants of Canada
MBA in Canada: Types
Canadian universities offer Master of Business Administration programs of different types. The cost of studying MBA in Canada depends on the type of program that students select. Further, the location and the language of instruction, since a couple of states are French-speaking, likewise, influence the expenses conducted. Among the list of courses for an MBA in Canada, we have listed below the different types of MBA programs.
- Full-Time MBA
- Part-Time MBA
- Executive MBA
- Professional MBA
- Dual Degree MBA
Affordable MBA in Canada Eligibility
Now, check the most important part, which is admission eligibility which allows international students to take part in MBA programs at Canadian universities. Due to the different types of MBA programs, the MBA in Canada Eligibility may change slightly in terms of experience required and other prerequisites. Look at some of the basic eligibility criteria that students must know about before applying for studying low cost MBA in Canada:
- A bachelor’s degree from a recognized institution/college.
- Relevant work experience.
- Language proficiency scores of TOEFL, IELTS or PTE.
- Admission Essays
Does a Low Cost MBA in Canada Mean Low Academics?
Studying at a cheap MBA college in Canada does not mean low academics. Some of the cheapest MBA in Canada have lower tuition fees due to government subsidies, company sponsorships, or other factors. Owing to these reasons, the cost of pursuing an MBA in Canada may be low at certain universities. Hence, students must not equate low cost MBA in Canada with low academic standards. 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.
Is it Worth Pursuing a Low Cost MBA in Canada?
Pursuing a low-cost MBA in Canada can be a great option for individuals seeking quality education at an affordable price. Here are some points to consider when evaluating the worth of pursuing a low-cost 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 for Indian students 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 cheap 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.
It is crucial to do extensive research on the particular low-cost MBA programmes you are thinking about, comparing aspects like the curriculum, faculty, alumni performance, and student happiness. Additionally, get in touch with current or former students to learn more about their experiences and the benefits of attending the cheapest MBA in Canada for Indian students.
For help with university applications, students seeking to study abroad can contact our Shiksha Study Abroad Counsellors. The comments section below allows candidates to contact us as well.
Cheapest MBA in Canada for International Students FAQs
Q. How much does an MBA cost in Canada?
A. The average cost of studying MBA in Canada is around INR 30-35 lakhs per year. It is the total 1st-year cost for international students who are looking to study Master of Business Administration program at Canadian universities. However, it is equally important to know the exact fee details and admission requirements for different MBA courses in Canada. In addition to the tuition fees, students also have to spend around CAD 19,000 per year on average as living costs, which include accommodation, food, cost of utilities, etc.
Q. Which are the cheapest MBA in Canada for Indian students?
A. Even though earning an MBA in Canada might be expensive, some programmes are more cost-effective than others, especially for Indian students on a tight budget. Some of the cheapest MBA in Canada for Indian students include the ones offered by the University of Waterloo; Concordia University's John Molson School of Business is another great option, Memorial University of Newfoundland and The Haskayne School of Business at the University of Calgary, etc. It is advisable to assess programmes using a variety of criteria, including accreditation, curriculum, faculty, location, facilities, and outcomes. Indian students can select an MBA programme that is both cheap and suits their aims and aspirations by conducting in-depth research and comparisons.
Q. How can I find quality cheap MBA colleges in Canada?
A. In order to find a quality affordable MBA in Canada, you must consider the following points:
- Research: Start by looking up university websites and reading about their programmes, faculties, rankings, and outcomes to learn more about MBA programmes in Canada. Search engines and internet discussion boards can also be used to find out more about various MBA programmes.
- Compare: Look out the MBA programme tuition costs at different Canadian colleges and compare them to your spending limit. Additionally, you can search for scholarships and other types of financial aid that can lower your tuition costs.
- Check Reviews: Read MBA programme reviews on university websites or other online resources from students, graduates, and professors. On websites like QS, Financial Times, or Bloomberg, you may also look for rankings of MBA programmes in Canada.
Q. Is Canada cheap for studying MBA programs?
A. The cost of studying MBA in Canada is low compared to universities in other countries like the USA, UK, Australia, etc. MBA cost depends on the location and the program type. It will range between CA$ 34,000 to CA$120,000 (for top universities in Canada). In order to reduce the cost of pursuing an MBA in Canada, students may apply for scholarships and/or work part-time. It is advised that students must try for scholarships very sincerely as they may remove the need to work part-time in Canada if the scholarship amount is sufficient. That way, students can focus on their studies and worry less about working part-time.
Q. Is MBA in Canada worth for international students?
A. Canadian universities are not only famous for their business programs but also for low tuition fees making MBA programs more accessible. They have a better return on investment and an average MBA graduate can earn up to $100,000 higher than other countries like France, Australia, the UK, etc. In addition to the cost factor, an MBA in Canada is delivered by high-ranking universities that offer excellent faculties, internship opportunities, student-industry connections, etc. Moreover, Canada’s pro-immigration policies provide an opportunity for the students to work after completing their MBA degree.
Download this article as PDF to read offlineDownload Guide