Top MBA colleges in Canada: Cost of MBA & GMAT cutoffs PDF Download

The GMAT evaluates a candidate's analytical writing and problem-solving skills, as well as their ability to reason logically and critically and make decisions based on data, which are crucial for success in the business and management world. The GMAT Exam is a crucial part of the admission process for over 7,700 programs at 2,400 universities and institutions in 110 countries. It is important to have an idea of the cutoffs for the colleges of your choice as that can help you set your goals in a better and more realistic manner.
The first step to finding the college of your choice is to set your priorities right, like do you have location preferences, your budget and so on.
If you wish to pursue an MBA from a university in Canada, then this article is made for you. We will be going through the average GMAT scores and tuition fees for the top colleges in Canada, while also providing other information necessary to form an informed decision.

Canada holds the title of the biggest MBA market in the world, with over 125,000 students per year attending one of the 553 accredited MBA universities. Of these, 288 are public universities and 265 are private. Despite the high number of MBA graduates, the size of the US economy is large enough to provide ample opportunity for them. This has made the MBA in Canada a highly sought-after program for international students.
Before discussing the average GMAT scores of colleges in Canada, let's ensure that we understand the admission requirements clearly.

Eligibility Criteria for MBA Admissions in Canada

To be eligible for admission to top universities in Canada, applicants must meet certain criteria, provide required documents, and pay the necessary application fees. The basic admission requirements for these universities include

• Undergraduate Degree
• GMAT or GRE Score
• Work Experience
• Language Requirements
• Passport & Visa

Undergraduate Degree

To be eligible for MBA programs at universities in Canada, applicants must hold an undergraduate degree. There isn’t a set CGPA requirement, but generally, it would be a good idea to maintain a CGPA of 7 (3.0 on a 4-point scale)

GMAT or GRE Score

Having a high GMAT or GRE score is a crucial factor for admission to top MBA programs in Canada. The score requirement can vary based on the university and type of MBA program. As many B-Schools in Canada are ranked in the top 10 in the QS global ranking, a score of over 700 would be considered safe. Do remember that many other factors, like undergraduate GPA, work experience, etc are also considered, so it is possible to get selected even with a lower score.

Work Experience

Having a minimum of 3 to 5 years of professional work experience in a relevant field is highly preferred for admission to top MBA programs in Canada. Although not all universities have a mandatory requirement, having prior work experience is a significant advantage.

Language Requirements

English proficiency tests are a mandatory requirement for international students applying to MBA programs in Canada. Some widely accepted tests and their average scores are
IELTS  : 6.5 to 7
TOEFL (iBT)  : 100
PTE : 60

Passport & Visa

Having a valid passport and student visa is mandatory for all international students who want to study in Canada. It is important to note that the visa application process should be completed at least three months before the intended travel date.

Top 10 MBA Colleges in Canada - 2023

MBA is the most demanding course that students and professionals prefer to level up their careers. Studying MBA in Canada will only be beneficial if you choose the top business schools. Here are the top 10 MBA colleges in Canada with all the details you need to know.

1. Rotman School of Management
2. Ivey Business School
3. Desautels Faculty of Management, McGill University
4. Smith School of Business at Queen's University
5. UBC Sauder School of Business
6. Schulich School of Business
7. Alberta School of Business
8. John Molson School of Business
9. HEC Montreal
10. University Canada West

Rotman School of Management

The Rotman School of Management offers a diverse range of MBA programs to suit various needs and schedules. Whether you prefer a full-time MBA, a morning or evening MBA, or a 1-year executive MBA, there's an option for you. Additionally, you can choose to specialize in areas such as brand management, business design, consulting, financial reporting and analysis, among others. Please refer to the table below for specific program requirements.

University Type	Public
QS Global MBA Ranking 2023	41
Fees	$138,441
Requirement	Bachelor's degree, or its equivalent, with a final year average of at least mid-B from a recognized university with a minimum GPA of 3.0 GMAT or GRE score minimum of two years of full-time work experience Essay and video interview References TOEFL iBT - 100 overall, minimum 22 IELTS - 7.0 overall, 6.5 each Interview
Scholarship	Joseph L. Rotman Scholarship - Full Tuition Value The Rotman Family Healthcare Scholarship Entrance Awards - $10,000 to $90,000 Business Design Initiative (BDI) Scholarship 30% Club Full-Time MBA Scholarship Skoll/MBA awards- $10,000 to $30,000 Rotman African and Caribbean Business Club (RACBC) Scholarship -$20,000 Black Student Leader Award - $25,000 Indigenous Student Leader Award - $25,000 Diversity & Inclusion Award - $10,000 Awards for In-Program Students Rotman Scholar Awards Graduate Studies Awards Ontario Graduate Scholarships - $10,000 to $15,000 Scotiabank Latin America Scholarship - $25,000.00 CIBC BASc / MBA Scholarships

Ivey Business School

Ivey Business School provides three MBA program options: full-time, accelerated, and executive, to cater to the varying needs of students. Upon graduation, 92% of MBA students looking for employment received at least one job offer within three months, indicating the strong career prospects offered by the school. For more details on how to apply to Ivey Business School, please refer to the key information provided in the table below.

University Type	Public
QS Global MBA Ranking 2023	69
Fees	$123,500
Requirement	Transcripts from all post-secondary institutions GMAT or GRE score Resume demonstrating a minimum of two years, full-time work experience. TOEFL or IELTS score Two professional references. Online application including completion of two required written essay questions and two required video questions. Application fee of $150 CAD
Scholarship	MBA Indigenous Entrance Scholarship - up to $10,000 Rise Awards in Resilient Leadership for Indigenous Students (MBA) - $22,500

Desautels Faculty of Management, McGill University

McGill University's Desautels Faculty of Management is renowned for its exceptional MBA programs, consistently ranking among the top in the world. If you're considering applying to the school, it's important to familiarize yourself with the different MBA program options available. These include full-time MBA, executive MBA, and MBA law, each offering unique curricular options. To learn more about these programs and their respective requirements, please refer to the table below.

University Type	Public
QS Global MBA Ranking 2023	73
Fees	$99,500
Requirement	2 years minimum of relevant full-time post-graduate work experience Transcripts GMAT or GRE TOEFL or IELTS Essay Letter of reference
Scholarship	Adam Dinkes MBA Leadership Award - $10,000 Duerksen MBA Leadership Award - $10,000 Daniel Galvao MBA Leadership Award - $10,000 Dominic K.M. Lai MBA Fellowship Rio Tinto - Richard Evans Graduate Fellowships - Up to $20,000

Smith School of Business at Queen's University

At Smith School of Business, enrolling in an MBA program can significantly enhance both your technical and management skills. The school offers a range of customizable MBA programs to choose from, enabling you to tailor your education to your specific interests and goals. On average, Smith MBA graduates earn a compensation of $135,856, highlighting the strong return on investment of the program. For further details on fees, requirements, and other important information, please refer to the table below.

University Type	Public
QS Global MBA Ranking 2023	59
Fees	$105,100
Requirement	Application form Resume Transcripts GMAT or GRE IELTS (7 overall) or TOEFL iBT 100 Cover letter 2 professional references 2 Video questions 1 written response Personal interview
Scholarship	General entrance scholarships - $10,000 to $70,000 Named scholarships Fellowships - $5,000 to $20,000

UBC Sauder School of Business

The MBA program offered by UBC Sauder School of Business encompasses four distinct specializations, each tailored to provide expertise in a particular area. These specializations are technology and analytics leadership, finance, product and service management, and innovation and entrepreneurship. Alternatively, you can opt for a customized MBA program that aligns with your unique career aspirations. To learn more about the requirements for enrolling in the program, please refer to the information provided in the table below.

University Type	Public
QS Global MBA Ranking 2023	92
Fees	$94,559
Requirement	Three or four-year Bachelor's degree with a B+ average or recognized equivalent from an accredited institution. Transcripts 550 GMAT with at least 50 in the quantitative and verbal sections 155 GRE score on both the verbal and quantitative sections IELTS - 7 overall or TOEFL iBT - 100 or PTE - 70 Minimum two years of full-time work experience Two references
Scholarship	Early entrance scholarships - $1,500 Regional top talent scholarships Hoegg family MBA scholarship - $25,000 Hari Varshney MBA entrance scholarships - Up to 50% of tuition fees Madhu Varshney MBA entrance scholarships - Up to 50% of tuition fees International Talent Scholarships - $10,000 - $60,000 Dean’s excellence in diversity awards - $10,000 - $60,000

Schulich School of Business

The Schulich School of Business has been consistently recognized as a top-tier MBA program by prestigious publications such as Forbes, Economist, Corporate Knights, and CNN Expansion. If you're interested in pursuing an MBA at Schulich, there are specific requirements that must be met to be considered for admission. Please see the information below for more details on these requirements.

University Type	Public
QS Global MBA Ranking 2023	98
Fees	$28,057
Requirement	An undergraduate degree from a recognized post-secondary institution with a minimum B average in the last two full years (or equivalent) of academic work. GMAT or GRE score Minimum two years of relevant post-degree, full-time work experience, or life experience Essays (2 written, 1 timed written, 2 videos) Resume Two references Transcripts IELTS Academic - overall 7.0, minimum 6.5 each TOEFL iBT - 100, minimum 23 each
Scholarship	Robert Krembil Scholarship of Merit - $40,000 Robert Krembil Scholarship of Merit: Health Industry Management Program (HIMP) - $40,000 The Goldberg Leadership Award of Excellence - $40,000 Seymour Schulich MBA Entrance Scholarship -$27,104 Tanna H. Schulich MBA Entrance Scholarship - $27,104 The Gary Whitelaw Strength in Diversity Award - $25,000 Heather L. Main Scholarship (Women in Capital Markets) - $25,000 Scotiabank Scholarship in International Business - $20,000

Alberta School of Business

The Alberta School of Business provides a diverse range of MBA programs, including full-time, part-time, executive, fast-track, energy, and online options. Each program has its own unique duration and requirements. If you're specifically interested in the full-time MBA program, please refer to the information provided below for more details on its duration and requirements.

University Type	Public research university
QS Global MBA Ranking 2023	111-120
Fees	$60,000
Requirement	Recognized undergraduate degree with GPA of at least 3.0 GMAT or GRE score English Language Proficiency for Non-native English speakers Professional work experience Statement of Intent letter Two letters of reference Admissions interviews
Scholarship	Entrance Awards - upto $15,000 UAlberta MBA Scholarships MBA Scholarship Committee

John Molson School of Business

The MBA program at John Molson School of Business offers international students the opportunity to gain practical, hands-on experience through various initiatives such as case competitions, case studies, internships, networking events, and more. To be eligible for this program and take advantage of these opportunities, it's important to meet certain requirements as outlined in the table below.

University Type	Public
QS Global MBA Ranking 2023	121-130
Fees	$47,900
Requirement	A minimum of two years full-time work experience is required Undergraduate degree in any discipline with a minimum cumulative GPA of 3.0 GMAT score of 580 or above TOEFL iBT: 95 overall with no band below 20 Academic IELTS: 7.0 overall with no band below 6.5 Statement of purpose Three letters of reference A video interview Application fee ($100 CAD)
Scholarship	Hardeep Grewal MBA Scholarship Endowment (Award details TBA) Richard Joly MBA Scholarship for Indigenous Students (NEW) Bank of Montreal - Pauline Vanier MBA Fellowship Bessie Schulich MBA Fellowship for Entrepreneurship Michael Murray MBA Entrance Award Robert J. Briscoe MBA Award Scotiabank MBA in-course Fellowship

HEC Montreal

Graduates of HEC Montreal's MBA program have a remarkable track record, boasting an average employment rate of 98%. Additionally, the program offers a strong return on investment, with graduates earning an average total salary of $99,121. If you're interested in enrolling in this program, please see the information provided below for more details on how to do so.

University Type	Public
QS Global MBA Ranking 2023	151-200
Fees	$59 000
Requirement	Have an undergraduate degree. Have at least 3 years of full-time professional experience at the start of the program (not including internships). Pass one of the admission tests: GMAT (minimum: 570) GRE (score equivalent to that of the GMAT) IELTS (7, 7.5 or 8) or TOEFL iBT (95-114)
Scholarship	Admission scholarships are awarded to applicants demonstrating exceptional aptitudes and an outstanding academic record.

University Canada West

UCW has established partnerships with prominent business and technology companies, including Salesforce, Amazon, Shopify, and Facebook, to integrate the latest technologies and expertise into its MBA program. If you're interested in enrolling in this program, there are several other key details to consider. Please see below for further information on admission requirements and other important details.

University Type	Private
QS Global MBA Ranking 2023	-
Fees	$38,700
Requirement	IELTS score of at least 6.5 (minimum 6.0 in the writing band) or equivalent (TOEFL, PTE, Duolingo, etc.) GPA of 3.00 GMAT or GRE score A minimum of three (3) years professional or management experience Online application Transcripts Resume
Scholarship	Entrance awards Scholarship for academic excellence MBA foundation study grants Second language excellence scholarship

Why Study MBA in Canada?

• It is a cost-effective country for international students to study MBA Abroad.
• Chance to stay in Canada after the completion of the degree.
• Following the immigration procedure carefully may allow students to get permanent residence in Canada.
• Students get quality education at MBA Universities in Canada.
• You will get proper practical and theoretical expertise.

Documents required for MBA admissions in Canada

Before submitting their application to any MBA program, international students need to provide a set of accompanying documents. They should verify that the following items are included:

• Transcripts of all previous academic qualifications
• A CV or resume
• Letters of recommendation (LOR)
• A statement of purpose (SOP)
• Test scores for IELTS/TOEFL
• Test scores for GMAT/GRE
• A certificate of work experience

Cost of Living for MBA students in Canada

The estimated cost of living in Canada for an international MBA student is approximately 15,000 CAD - 20,000 CAD per year, and may vary depending on individual lifestyles and spending habits. This includes expenses such as rent for accommodation, food, groceries, and other miscellaneous items.

GMAT Preparation Material
GMAT Study Material on EduRev	How to prepare for GMAT
Quantitative Reasoning for GMAT	Verbal Reasoning for GMAT
Analytical Writing Assessment (AWA) for GMAT	Integrated Reasoning for GMAT
Mock Test Series for GMAT	Practice Questions for GMAT
100 RCs for GMAT	Crash Course for GMAT

Frequently Asked Questions (FAQs) on MBA in Canada

What is the admission process for an MBA in Canada?

The admission process for an MBA in Canada typically involves the following steps:
(i) Research schools and programs
(ii) Meet admission requirements
(iii) Submit your application
(iv) Await the decision
(v) Interview

How much does an MBA cost in Canada?

The cost of an MBA in Canada varies depending on the school and the program format. On average, full-time MBA programs in Canada can cost between $50,000 to $100,000 CAD.
The tuition fee depends on the
In addition to tuition, students should also budget for other expenses such as books, housing, food, transportation, and other living expenses

How long does it take to complete an MBA in Canada?

The length of time it takes to complete an MBA in Canada varies depending on the school and the program format. Full-time MBA programs typically take two years to complete, with classes taking place during the day and lasting for several hours. Part-time MBA programs and executive MBA programs, on the other hand, can take anywhere from two to four years to complete, as classes are typically held in the evenings or on weekends to accommodate students' work schedules.

What are the career opportunities for MBA graduates in Canada?

Graduates of MBA programs in Canada can find a wide variety of career opportunities in fields such as investment banking, consulting, marketing, entrepreneurship, and more. An MBA degree can open doors to many high-level management and executive positions, and can also provide a foundation for starting a business.

What are the top MBA programs in Canada?

There are several top MBA programs in Canada, and the ranking of these programs can vary depending on the source and the criteria used. Here are some of the top MBA programs in Canada, according to various ranking sources:
(i) Rotman School of Management
(ii) Ivey Business School
(iii) Desautels Faculty of Management - McGill University
(iv) Smith MBA at Queen's University
(v) Sauder School of Business
(vi) Alberta School of Business
(vii) John Molson School of Business
(viii) Dalhousie University
(ix) HEC Montréal

Is Canada good for MBA?

Canada is a great destination for an MBA due to its high-quality education, diverse economy, global recognition, multicultural environment, and high standard of living. Canadian MBA programs are offered by world-class business schools that emphasize both theory and practical applications, providing students with the knowledge and skills needed to succeed in their careers. With a diverse economy and multicultural environment, students have a wide range of career opportunities and the chance to learn from and network with individuals from different cultural backgrounds.