Cost of MBA in Canada: Top Universities, Fees & Cost of Living

The cost of an MBA in Canada varies depending on the university and program, typically ranging from CAD 30,000 to CAD 120,000. Canada has transformed into one of the leading global education hubs, offering a multicultural and academically enriching environment, lucrative employment opportunities, and easy pathways to permanent residency and citizenship. Given the considerable demand for MBA courses in the country, there is growing interest in understanding the expenses involved in pursuing this degree.

Read More: What is the Student Direct Stream in Canada?

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Why Study MBA in Canada ?

Apart from the comparatively reasonable Canada MBA fees, what are the other reasons for pursuing your MBA in the country? For starters, Canada is home to some of the world’s most reputed and recognized universities that constantly rank high in the global rankings lists, including QS Research, Academic Rankings of World Universities, and Times Higher Education. 

Coming back to the MBA fees in Canada, it should be mentioned that they are comparatively lower than similar courses in several countries, including the US and the UK. MBA fees in Canada for international students may be roughly between CAD 10,000 and CAD 35,000 annually, which is at least US$10,000 cheaper when considering the average course fee of $45000 in the US. 

In fact, the average cost of an MBA in Canada is lower than in Australia ($43,000) and the United Kingdom ($44,000). Almost half a million global students come to Canada annually, and the country offers ample opportunities to experience real multiculturalism along with political stability and a peaceful environment overall. The open and welcoming nature of the country and its citizens is another benefit.  

Along with Canada’s reasonable MBA course fees, students can also expect quality education options at globally reputed universities. Studying in Canada is always a value-for-money experience for MBA students. Successful graduates may earn up to CAD 79,076 annually as an average salary. Entry-level salaries start from CAD 34,170 annually and go up to CAD 120,793 per year for experienced professionals. 

Additionally, students may also expect comparatively easier visa and immigration processes in the country. The pathway is also more accessible for permanent residency and citizenship in Canada.

Admission Requirements for an MBA in Canada

To pursue an MBA in Canada, applicants must meet specific admission criteria set by universities. Below is a breakdown of the common requirements:

General Admission Requirements

Requirement	Details
Bachelor’s Degree	A recognized undergraduate degree (minimum GPA requirement varies by university).
Work Experience	Most universities require 2–5 years of professional experience, but some may admit fresh graduates.
GMAT/GRE Scores	Many programs require GMAT/GRE scores, though some offer waivers based on work experience or academic performance.
English Proficiency	International students must submit IELTS (6.5–7.5) or TOEFL (90–100) scores unless they studied in an English-speaking country.
Letters of Recommendation (LORs)	Typically, 2–3 LORs from employers or professors are needed.
Statement of Purpose (SOP)/Essays	A well-crafted SOP explaining career goals, motivation, and why you chose the program.
Resume/CV	Highlighting education, work experience, skills, and achievements.
Interview	Some universities conduct interviews to assess applicants' communication skills and motivation.

Read More: Data Scientist Salary in Canada

MBA Fees in Canada at Leading Institutions 

Coming to a low-cost MBA in Canada, you can take your pick from several reputed institutions offering this degree program to students.  The MBA fees in Canada for Indian students may range between ₹11 to 59 lakh. The average cost of an MBA in Canada for international students ranges from CAD 30,000 to 40,000. Scholarships can help significantly reduce these costs, and it should be mentioned that Canada has 100+ leading institutions of higher education, while employment rates have also increased for Canadian MBA graduates. Getting admission into a leading MBA program in Canada will naturally have some specific requirements.

Understanding Fee Variations

The total cost of an MBA includes:

• Tuition Fees – The primary expense, varying by institution and program type (full-time, executive, or online).
• Additional Fees – Cover student services, health insurance, administrative costs, and study materials.
• Living Expenses – Accommodation, transportation, and daily necessities, which vary by city.

Scholarships and financial aid can help reduce these expenses significantly. Canada, home to 100+ top institutions, offers strong employment prospects for MBA graduates, making the investment worthwhile.

Here’s taking a closer look at leading universities in Canada and the approximate tuition fees charged:

University	Business School/Duration of Program	Tuition Fee (CAD)
University of Toronto	Rotman School of Management (2 years)	$66,210 (for year 1)
McGill University	Desautels Faculty of Management (1 year to 20 months)	$99,500
Queen’s University	Smith School of Business (1 year)	$104,100
University of Western Ontario	Ivey Business School (1 year)	$88,125
York University	Schulich School of Business (16-20 months)	$112,250
University of British Columbia	Sauder School of Business (16 months)	$51,415
Concordia University	John Molson School of Business (16-24 months)	$47,900
HEC Montreal	Department of Business (1 year)	54 000 until summer 2022 59 000 from fall 2022
Dalhousie University	Rowe School of Business (23 months or longer)	82,205
McMaster University	DeGroote School of Business (20-28 months)	86,000-92,000
Brock University	Goodman School of Business (2 years)	34,175 (per year for 10 courses)
Simon Fraser University	Beedie School of Business (16 months)	962.40 per unit
University of Ottawa	Telfer School of Management (2-year)	64,000-68,000
Saint Mary’s University	Sobey School of Business (16 months)	43,000
University of Victoria	Gustavson School of Business (2 years)	39,331.40
University of Calgary	Haskayne School of Business (2 years)	25,042.80 (for year 1)
University of Saskatchewan	Edwards School of Business (2 years)	54,853.86
University of Manitoba	Asper School of Business (2 years)	765.26 per credit hour

Cost of Living in Canada

The annual cost of living in Canada for international students typically ranges between CAD 18,000 to 20,000, depending on the city and lifestyle. Below is a monthly breakdown of estimated expenses:

The cost of living can vary significantly based on location. Major cities like Toronto, Vancouver, and Montreal tend to have higher housing and transportation costs, while smaller cities like Winnipeg, Halifax, and Regina offer more affordable living options. Students can manage expenses by choosing budget-friendly accommodations, using public transport, and exploring part-time work opportunities.

Category	Cost (in CAD)
Accommodation with utilities	$800-1200
Food	$300-400
Phone & Internet	$100-200
Entertainment	$50-100
Miscellaneous	$100-200

Pre-Arrival Cost for MBA in Canada 

The pre-arrival cost for an MBA in Canada would roughly come out to ₹8 lakh. It would include standardized tests cost, one-way flight tickets, visa fees, university application fees, the purchase of GIC (Guaranteed Investment Certificate), and health insurance.

This includes:

• Standardized Test Fees (GMAT/GRE, IELTS/TOEFL)
• University Application Fees
• Visa Fees
• One-Way Flight Tickets
• Guaranteed Investment Certificate (GIC) Purchase (Minimum CAD 10,000 for living expenses)
• Health Insurance

Know more about: Statement of Purpose Format | SOP for Canada

Scholarship Opportunities & Financial Aid for MBA in Canada

Pursuing an MBA in Canada can be financially demanding; however, numerous scholarships and financial aid options are available to support international students. Below is a selection of prominent scholarships, along with their eligibility criteria and application deadlines:

Scholarship	Eligibility	Deadline
Ontario Graduate Scholarship (OGS)	International students, high GPA, full-time graduate enrollment	October (varies by university)
MPOWER MBA Scholarship	Admitted/enrolled in an MBA program, international student	Varies annually
UBC Sauder Scholarships	Strong academic record, leadership, community involvement	March 11, 2025 (International)
Canada Graduate Scholarships – Master’s (CGS M)	Canadian citizens/PR, high academic achievement	December 1, 2024
Study in Canada Scholarships	International students from eligible countries	Varies by institution

Application Process for MBA in Canada

Applying for an MBA in Canada involves multiple steps, from research to final admission. Below is a step-by-step guide with estimated timelines and required documents.

Step-by-Step Application Process

1️. Research and Shortlist Universities (12-18 Months Before Intake)

• Compare programs, fees, and specializations.
• Check admission requirements and deadlines.

2. Take Standardized Tests (10-12 Months Before Intake)

• GMAT/GRE (if required)
• IELTS/TOEFL for English proficiency

3. Prepare Application Materials (8-10 Months Before Intake)

• Statement of Purpose (SOP)
• Letters of Recommendation (LORs)
• Resume/CV
• Academic Transcripts

4. Submit Online Applications (6-8 Months Before Intake)

• Apply through university portals before deadlines.
• Pay the application fees.

5. Attend Interviews (If Required) (4-6 Months Before Intake)

• Some universities conduct personal or video interviews.

6. Receive Offer Letters (3-5 Months Before Intake)

• Accept admission and pay the enrollment deposit.

7. Apply for Study Permit & GIC (3-4 Months Before Intake)

• Apply for a student visa (Canada Study Permit).
• Purchase a Guaranteed Investment Certificate (GIC).

8. Plan Travel & Accommodation (1-2 Months Before Intake)

• Book flight tickets.
• Arrange housing and health insurance.

Required Documents for MBA Applications

✔ Academic Transcripts – Bachelor's degree certificate and mark sheets
✔ GMAT/GRE Scores – If required by the university
✔ IELTS/TOEFL Scores – Proof of English proficiency
✔ SOP & LORs – Personal statement and recommendation letters
✔ Resume/CV – Highlighting academic and professional achievements
✔ Proof of Funds – Bank statements or scholarship documents

Affordable MBA Programs in Canada

The type of MBA programs in Canada that can be pocket-friendly include Executive, Part-Time, Dual Degree, and Full-Time MBA. 

Here’s a list of universities offering affordable MBA programs in Canada

University	Fees ( for the entire duration in CAD)
Memorial University of Newfoundland	$9,666
Wilfrid Laurier University	$16,994.12
University of Alberta	$28,281
Vancouver Island University	$720.00 per credit

Important Resources to Read About Canada:

Why Study in Canada?	Cost of Living in Canada for Indian Students	Average Salary in Canada
Part-time jobs in Canada	Cost of Studying in Canada	How to Settle in Canada from India?
Requirements for Studying in Canada	Student life in Canada	Student Accommodation in Canada
SOP for Canada	Best City in Canada for International Students

Conclusion

Pursuing an MBA in Canada is a valuable investment, offering world-class education, strong career prospects, and opportunities for permanent residency. While tuition fees range between CAD 30,000 to 40,000, additional costs such as living expenses (CAD 18,000 to 20,000 per year) and pre-arrival costs must also be considered. Scholarships and financial aid can significantly reduce expenses, making it more accessible for international students.

For those looking to enhance their career with a globally recognized MBA, upGrad provides tailored learning solutions, helping professionals upskill with top universities. Explore your MBA options and take the next step toward success with upGrad!