Higher education has been associated with increased economic and social benefits at both the individual and societal levels. Individuals having higher education experience improved income levels, employment patterns, civic participation, and health-related behavior. The Master of Business Administration (MBA) program is a popular higher education degree, especially among individuals who intend to pursue a career in enterprise management.

 

The MBA program prepares individuals for management roles by equipping them with knowledge-application skills in real-world situations. The hands-on aspect of the MBA degree has prompted other professions outside the business sector to consider the program as a vital prerequisite for essential leadership roles. This article contains guidelines for applying for an MBA program in Canada.

 

Application Criteria and Requirements

Just like in other Master’s programs, there are minimum entry requirements for individuals who intend to enroll for an MBA degree in Canada. All legible applicants must at least have an undergraduate degree from a chartered higher education institution, according to McGill University and University of Toronto (UoT). The applicants must have scored a minimum of a B or 3.0 GPA in their last two academic years.

 

It is a prerequisite that the candidates should have at least two years of relevant full-time work experience. All applicants must also take and pass either the Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE). Additional application requirements may comprise essays, whose submission varies based on the institution. Following the above-discussed requirements, the MBA application forms should include an up-to-date resume, reference letters, and copies of the undergraduate transcripts and GMAT or GRE scores as supporting documents.

Summary of the Course Syllabus

The MBA program is divided into two tiers: Foundational and mastery levels. However, different institutions have modified the MBA program to improve the extent of course coverage and the ease of completion. At the foundational level, all MBA students are expected to cover both core and elective courses. Some of the core courses include business analytics, finance fundamentals, human resource management, economics and industry analysis, and team project management.

 

Elective courses may include pricing analytics, risk management, entity valuation and mergers, and digital execution. At the mastery level, students are expected to select their preferred fields of specialization that include accounting, financing, global enterprise management, marketing, and strategic management. As a prerequisite for graduation, students must write an MBA thesis, a capstone project, or a dissertation that involves the strategic assessment of their preferred organizations, followed by the preparation of recommendation reports for the entities’ senior management.

Tuition Fees and Financial Aid

The expected cost of completing an MBA program in Canada varies from one institution to another. At an institutional level, the tuition fees may further vary based on the learning schedule and student nationality. For example, students who select the part-time program tend to incur lower tuition fees than individuals who join the full-time course. Similarly, international students incur higher tuition fees than Canadian citizens.

 

Several forms of financial aid are available to both local and international students who intend to complete their MBA programs in Canada. The financial assistance may exist in the form of fee waivers, discounts, and scholarships. For instance, University Canada West (UCW) offers a 30% discount to both members of the Canadian Forces and veterans. Different universities in Canada also offer various scholarships and awards that MBA applicants may utilize. For example, the Americas Bursary provides tuition support for MBA students from North, South, and Central America and the Caribbean. The International Student Leaders Award (ISLA) is availed to international students (excluding US citizens) who are dedicated to promoting their home country’s economic development and sustenance. The Laurentian Bank MBA Leadership Award (LBMLA) provides scholarship opportunities to students who display significant leadership qualities.

 

Internships and Work Opportunities

The MBA degree prepares candidates to take up leadership roles in diverse sectors. A significant portion of Canadian universities have career development centers (CDC) that mentor students and provide recommendations to various organizations. For instance, York University’s (YU) CDC has a partnership with organizations such as Amazon, Deloitte, P&G, and IBM that provide both internship and employment opportunities to the university’s MBA students.

 

According to the information on  McGill University’s (MU) website, 100% of their MBA students in 2018 received summer internship opportunities with an average monthly stipend of C$4000. The available data on MU’s website also indicated that 85% of their MBA students in 2019 were employed within three months of their graduation. The statistics are similar to those on YU’s website that indicates an 89% employment rate among their MBA students within three months of graduation.

Summary

Higher education degrees, such as MBA, increase individuals' employment rates and income levels. The MBA program is an essential requirement for professionals who intend to pursue a career in management positions. The application requirements for an MBA program in Canada comprise an undergraduate degree with an average score of a B or 3.0 GPA and a minimum of two years of relevant working experience. Additional application requirements indicate that the candidates must pass either the GMAT or GRE tests and compose a satisfactory admission essay.

 

The MBA degree comprises two broad tiers, foundational and mastery levels, that are further classified into the core, elective, and specialized courses. The tuition fees vary depending on the applicants’ nationality and program schedule. International students are charged higher tuition fees than local applicants. MBA applicants can submit their requests for the available scholarship and bursary funds to reduce their incurred expenses. Some forms of financial aid are available to applicants in all universities, whereas others such as ISLA and LBMLA are limited to specific institutions. The statistics provided by various institutions such as MU and YU indicate that at least 85% of MBA students secure employment within three months of graduation.

 

 

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