MBA in Canada vs MBA in USA: Both the USA and Canada are popular choices for overseas students looking to pursue an MBA degree. International students must make a difficult decision when deciding whether to pursue an MBA abroad. A major degree in one's life like an MBA requires a lot of time and money. An MBA from the US or Canada can lead to a variety of professional prospects and help one develop in their field.
When comparing pursuing an MBA in USA vs MBA in Canada, the academic content and programme structure are largely identical. Both nations have two-year MBA programmes that involve training in business-related topics including finance, marketing, and operations management. However, there could be some variations within industries and employment options open to MBA programme graduates in the US and Canada.
Hence, you must comprehend the criteria used to pick between an MBA in Canada vs MBA in USA to decide which country best fits your needs. Thus, this article compares the usual criteria for comparison between earning an MBA in Canada and an MBA in USA for international students.
MBA in Canada VS MBA in the US
For obvious reasons—the USA has by far the largest economy in the world and is anticipated to stay so for the foreseeable future, it is home to some of the top organisations, it has an unsurpassed quality of life, and the list goes on—it continues to be the most sought-after location for MBA students globally. On the other hand, there was a period when coming to Canada to MBA was considered a way to start living the American dream. But times have changed, and Canada has become a top location all on its own, not just for studying MBA abroad but also for pursuing a profession and starting a family.
Following is the comparison between MBA in Canada and an MBA in the USA based on various parameters:
Comparison Parameter | MBA in Canada | MBA in the US |
|---|---|---|
Duration | Most of the full-time MBA programmes in Canada are of a duration of 2 years. However, there are some MBA programmes that may be 18 months long | Full-time MBA programmes are of a duration of two years but many MBA programmes can also be completed in one year |
Eligibility Criteria | A bachelor's degree in any discipline | A bachelor's degree in any discipline |
Admission Process | Candidates must appear in GMAT and English Language Test (TOEFL, IELTS) and apply for admission to the desired university on the basis of the scorecard. | Candidates must appear in GMAT and English Language Test (TOEFL, IELTS) and apply for admission to the desired university on the basis of the scorecard. |
Exams | GMAT, TOEFL, IELTS. | GMAT, TOEFL, IELTS. |
Top MBA Specialisations | Finance, Entrepreneurship, Supply Chain/Logistics, Business Analytics | Accounting, Finance, Business Analytics, Entrepreneurship, Production/ Operations, Management, Supply Chain/Logistics, Project Management |
Average Fees | USD 70,000 per year | USD 120,000 per year |
Visa | Study Permit | F-1 Student Visa |
Financial Support | Scholarships and Education loans | Financial support is provided to students through scholarships, education loans and fellowships. |
Salary | USD 115,800 per annum | USD 94,300 per annum |
Cost of Living | USD 1196 to 1595 | USD 3,000 to USD 3,500 |
Does Pursuing an MBA Abroad Sounds Appealing to You?
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Reasons to Pursue an MBA from the US
Following are some good reasons to pursue an MBA from the US:
Highest-Ranked MBA Institutions
As mentioned in the beginning, the USA has the highest number of prestigious MBA colleges in the world. Stanford University has managed to retain its top spot in the 2020 edition of QS Global MBA Rankings. In fact, it is the country that introduced the MBA degree programme to the world. Pursuing an MBA from one of the elite MBA institutes of the US gives an edge over MBA graduates from other parts of the world.
Thriving Employment Opportunities
MBA is one of the most lucrative professional degree programmes offered in the US. The country offers ample employment opportunities to MBA graduates as the corporate giants are the largest employers in the country. The MBA graduates are hired by some of the top recruiters in the country including McKinsey & Company, Bain & Company, the Boston Consulting Group (BCG), Google and Microsoft. Almost all US universities offer 360-degree career assistance, making students industry-ready and connecting them with the leading recruiters hiring for hot jobs such as marketing manager, financial manager, business operations manager, database administrator and many more.
Quality Education
The US has world-class educational resources along with highly skilled and experienced faculty. Effective teaching, support and learning opportunities pave the way for students to excel at both academic and personal levels.
Students enrolled in MBA degree programmes at leading US universities discover the bridge to the real business world. The course helps them acquire advanced knowledge which further gives them an advantage in a competitive job market.
Popular Universities in the US to Pursue MBA
Check out the list of popular US universities offering MBA programmes:
University | Courses Offered | Duration | Annual Fee (in INR) |
|---|---|---|---|
Stanford Graduate School of Business | MBA | 21 months | 51,80,096 |
Harvard Business School | MBA | 21 months | 52,06,896 |
California State University - Fresno Campus | MBA | - | 15,40, 019 |
Saint Louis University | MBA | 1 year | 37,43,520 |
Suffolk University | MBA - Marketing | 11 months | 32,30,913 |
Suffolk University | MBA - Finance | 11 months | 33,47,898 |
Suffolk University | MBA | 11 months | 32,30,913 |
University of Tulsa | MBA | - | 18,38, 792 |
University of Idaho | Executive MBA | 22 months | 29,77,800 |
University of Dayton | MBA | - | 12,64, 005 |
Hofstra University | Executive MBA | 20 months | 40,70,227 |
Louisiana State University | MBA | 22 months | 21,48,412 |
University of South Florida | M.B.A MBA | 18 months | 13,81,061 |
Pace University | Financial Management, MBA | 18 months | 22,67,382 |
Florida Atlantic University | Executive MBA | 23 months | 15,34,914 |
University of Nebraska-Lincoln | MBA | - | 23,08,291 |
George Mason University | MBA | 23 months | 29,78,084 |
Adelphi University | MBA Management with Specialization in Management Information Systems | - | 22,29,096 |
Adelphi University | MBA Management with Specialization in Marketing | - | 22,29,096 |
Adelphi University | MBA Management with Specialization in Finance | - | 22,29,096 |
Adelphi University | MBA Management with Specialization in Accounting | - | 22,29,096 |
Adelphi University | MBA Management with Specialization in Human Resource Management | - | 22,29,096 |
Adelphi University | Global MBA | - | 34,55,099 |
Why Pursue an MBA in Canada?
Canada boasts of more than 3 lakh students from outside Canada and every year the number of students getting enrolled for admission in top courses like MBA keeps on increasing. Students get exposure to multiculturalism and later on, expect a high standard of living. Adding reasons to do MBA in Canada are given below:
The Standard of Education
The B-schools of Canada offer quality education along with an updated curriculum and exposure to innovative learning opportunities. The institutions provide a quality education and the courses are designed as per the requirements of industry and the business world. Although Canada offers less number of specialised degree programmes as compared to the US, it provides an excellent learning environment that contributes to the personal and professional growth of a student.
Unlike US universities, the popular B-Schools in Canada such as the University of Torontos Rotman School of Management, McGill University, and Ivey Business School, amongst others provide affordable education without compromising on world-class resources and infrastructure.
Job Opportunities
Toronto has created a huge number of management and tech-related jobs in the past five years. Almost every Canadian university works with a variety of industries to offer more and better work placement programmes. International graduates can obtain a Post-Graduate Work Permit (PGWP) after completing their MBA programme and work with any company of repute in Canada for up to three years. According to the World Bank Annual Report 2018, Canada stands in the second position among the easiest places in the world to start a business.
Immigration Options
After the completion of the course, an international student can apply for an immigration process and can avail of an option to work legally in the country. The immigration process in Canada is easier as compared to other countries and especially the US. If one wants to live in the country as a permanent resident after graduation, one can apply to an applicable immigration programme like the Canadian Experience Class.
Scholarships
Any university in Canada offers umpteen internal and external scholarship opportunities that international students can opt for. Such scholarships primarily depend on the merit of the student apart from other criteria such as prior work experience, academic excellence, leadership qualities, etc.
List of Top Universities in Canada to Pursue MBA
Check out the list of top Canadian universities offering MBA programmes:
Name of the University/B-School | Duration | Tuition Fees |
|---|---|---|
University of Toronto- Rotman School of Management | 19 months | INR 27,00,000 |
Queens University- Stephen JR Smith School of Business | 20 months | INR 24,18,130 |
Western University- Ivey Business School | 12 months | NA |
McGill University | 20 months | INR 24,18,130 |
Schulich School of Business | 16 months | INR 28,27,854 |
University of Alberta | 20 months | INR 8,97,697 |
University of British Columbia | 16 months | NA |
HEC Montreal | 12 months | INR 8,80,308 - 11,20,763 |
Sobey School of Business, Saint Mary's University | 16 months | INR 14,43,705 - 31,51,720 |
ROI of an MBA in Canada vs ROI of an MBA in USA
ROI is one of the most important when deciding where to pursue an MBA - in the US or Canada. Return on investment is the financial ratio used to calculate the amount of return or benefit one will receive on a particular investment (in this case, an MBA), relative to the performance or efficiency of the investment.
After completing an MBA from a Canadian B-School, you can expect an overall average compensation of USD 94,300 a year with average bonuses of USD 11,300 and base salaries of around USD 83,000.
In the US, the margin is slightly higher with MBA graduates earning average bonuses of USD 18,800 and overall salaries averaging an impressive USD 120,900.
Country | Total Average Tuition Fees (USD) | Average Base Salary (USD) | Bonus (USD) | Total (USD) |
|---|---|---|---|---|
US | $120,000 | $97,000 | $18,800 | $115,800 |
Canada | $70,000 | $83,000 | $11,300 | $94,300 |
MBA in Canada VS MBA in USA: Jobs by Salary
To further give a better idea of the ROI of an MBA in Canada vs in the US, here are the top job positions along with their salary ranges offered by organisations in both countries:
MBA in Canada | MBA in the US | ||
|---|---|---|---|
Job Title | Salary Range (USD) | Job Title | Salary Range (USD) |
Project Manager | 50,210 - 94,841 | Project Manager | 60,000 - 134,000 |
Marketing Manager | 40,646 - 85,277 | Senior Financial Analyst | 71,000 - 103,000 |
Chief Executive Officer (CEO) | 74,917 - 200,841 | Chief Executive Officer (CEO) | 95,000 - 347,000 |
Chief Financial Officer (CFO) | 77,308 - 178,525 | Chief Financial Officer (CFO) | 107,000 - 244,000 |
Management Consultant | 49,413 - 99,623 | Business Development Director | 84,000 - 184,000 |
Financial Controller | 53,398 - 94,841 | Chief Operating Officer (COO) | 96,000 - 264,000 |
Financial Analyst | 36,661 - 62,962 | Marketing Director | 71,000 - 165,000 |
According to this article, choosing between an MBA in USA vs MBA in Canada will be influenced by your career and personal objectives, as well as your financial situation and preferred location. Before choosing a choice, it is crucial to examine and contrast the various MBA programmes offered in the two countries. It is important to note that MBA graduates from the US and Canada may have the chance to work abroad because both nations have solid economic relations with other countries. The precise career prospects that are open to MBA graduates may, however, rely on the person's network, skill set, and experience as well as the local labour market.
Throughout the years, our study abroad experts have helped thousands of students to make the right choice, with the best part being that most of them have taken advantage of this service and are studying MBA in the university of their choice.Write to us atabroad@collegedekho.com to get further assistance in getting into the institution of your choice.
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FAQs
Which is better to study abroad MBA, US or Canada?
There is no specific answer to which is better to study abroad MBA between US and Canada. Each country is reputed to have strong education systems. Moreover, MBA graduates from both countries have contributed immensely to the corporate world. Students need to decide which country is best for them on the basis of their own goals and expectations.
Which are the most popular MBA specialisations offered by universities in US and Canada?
The most popular MBA specialisations offered by US universities are general management, strategy, consulting, entrepreneurship, marketing, finance, and IT and technology management. On the other hand, in Canada, the most popular MBA specialisations among international students are accounting, business analytics, financial analysis, marketing, human resource management, operations management, and supply chain management.
How much does MBA from Canada cost?
MBA from Canada costs around CAD 25,000-CAD 45,000 annually. An Executive MBA at a leading B-school can cost about a few thousand Canadian dollars more than a specialised MBA. Some of the best business schools in Canada to apply for MBA courses are Schulich School of Business, Rotman School of Management, Smith School of Business, Ivey Business School, Asper School of Business and HEC Montreal.
How much does MBA from USA costs?
MBA from USA will cost international students around USD 45,000-USD 65,000 annually. Similar to Canada, an Executive MBA may cost higher than an MBA programme. US business colleges are costlier although the cost can be justified by their global reputation and high ROI. Some of the US business schools, featured among the top 100 global schools are Wharton School, Columbia Business School, Harvard Business School, Stanford Graduate School of Business and Yale School of Management.
What are the eligibility criteria for MBA from US?
The eligibility criteria for MBA in US are different for every business school. The administering faculty or department of the university decides the eligibility criteria. However, in general, international students applying for an MBA course in the US must hold a three or four-year bachelor’s degree, a GPA score of at least 3.5 on a 4.0 scale, GMAT or GRE scores, IELTS/TOEFL/PTE/Duolingo scores, SOP, and at least two LORs.
Can international students stay back in US after completing their MBA?
Yes, international students can stay back in US after completing their MBA. International students in US are allowed to pursue a career in a field related to the programme of study they have studied in the US. An MBA programme is one of the most reputed courses and students can get immediate placements. Those who plan to stay back in US must apply for a Post Study Work Visa which includes OPT or an H-1B visa.
Can international students stay back in Canada after completing their MBA?
Yes, Canada also allows international students to stay back after completing their MBA. Since MBA is a master’s degree, students are allowed to stay back in Canada for up to two years. International students can use this time to establish a career or gain work experience. In order to stay back and work in Canada, they need to apply for a post-graduation work permit (PGWP) in Canada.
What is the starting salary after MBA in US?
The starting salary after MBA in US is about USD 95,000 annually. An MBA degree in the US is an advanced course which sets a student apart from their peers and makes them a significant asset in any industry. So, those who earn an MBA can expect to make 28% more than those not holding an advanced degree.
What is the average salary for MBA in Canada?
The average salary for an MBA in Canada is CAD 80,000 annually. Canada is reputed for its friendly working environment and organisations working towards sustainable development. There are many multi-national companies in Canada that look forward to employing MBA graduates who can not only help in the company’s growth but also contribute to reducing their carbon footprint.
