Erudera's Complete Guide to Studying Business in Canada
Canada is one of the best countries to pursue a business degree for many reasons, including its highly-developed economy, academic excellence, and multicultural student population. Whether you wish to continue your career in Canada, your home country, or elsewhere abroad, a Canadian business degree can highly benefit your aspirations. Besides, the study experience will be exceptional in Canada, with major factors being its clean and safe cosmopolitan cities and friendly environment.
Here’s everything you need to know about studying business in Canada:
Reasons to Study Business in Canada
Efficient and Comprehensive Programs
Canadian higher education institutions offer efficient and comprehensive business education across all levels of study. Students have the chance to choose from a wide array of business disciplines, depending on their preferences, such as business administration, finance, or marketing, to name just a few. The curriculum of each program is structured to benefit students as well as their career aspirations. A great plus is that many universities also offer integrated internship opportunities so students can get the best of both worlds, theoretical and practical. After completing an undergraduate degree, students can further their knowledge in various fields, including MBA programs.
Rewarding Career Prospects
As a business graduate in Canada, you will have numerous career paths to choose from, whether you would like to continue your professional life in Canada or abroad. Whether you want to work as an accountant, financial analyst, actuary, business analyst, or open your own business, you will find the skills and experience you earn at business school in Canada highly useful. Besides, business careers are also financially rewarding. For example, an accountant in Canada earns an average of CA$56,500 (~US$45,000) per year, a business analyst earns around CA$69,900 (~US$55,700) per year, while a financial analyst earns an average of CA$71,200 (~US$56,700) annually.
Studying business in Canada will be an opportunity for you to meet people from different countries, cultures, and customs. You will be part of an environment that encourages you to grow, learn, explore and dream. With over half a million international students across higher education institutions in Canada, you will create plenty of national and international friendships. Personal growth will be a great advantage to your career aspirations as well. Cultural exchange and new experiences will shape you into a well-rounded individual, which alongside Canadian qualifications, will give you an excellent advantage in a global and national job market.
Top Universities to Study Business in Canada
Some of the best universities to study business in Canada are:
- Rotman School of Management
- McGill University
- Smith MBA at Queen's University
- Ivey Business School
- Schulich School of Business, York University
- Sauder School of Business
- Alberta School of Business
- John Molson School of Business
- HEC Montréal
- Dalhousie University
Requirements To Study Business in Canada
The requirements will depend on the university and your chosen program of study. Most business programs, at the undergraduate and postgraduate levels in Canada, use English as the language of instruction. This means that unless English is your first language, you must provide proof of English proficiency through tests like IELTS, TOEFL, or PTE.
Other requirements mainly include academic transcripts from your previous educational institutions. If you’re applying for a master’s program, you will need a bachelor’s degree. If you wish to attend an MBA program in Canada, you may need to provide a GMAT score as part of the requirements, previous relevant work experience, your statement of purpose, and two recommendation letters.
The application process to study business in Canada includes a few important steps. Whether you are looking for an undergraduate or postgraduate program, the application process will have you go through the following steps.
Here’s what you need to do to apply to business school in Canada:
- Choose a Program: Make sure you research thoroughly and list the pros and cons of each program you are interested in. Canadian business schools offer comprehensive and efficient programs, so you will have plenty of options to choose from.
- Meet the Requirements: Each university has its requirements, which means you will have to directly contact the university of your choice and ask for specific information or visit their website. Since most programs are taught in English, proof of language proficiency is generally required.
- Apply: At this point, you have probably gathered all the necessary documentation, as required by your university. Most universities receive their applications online through their website. Remember that you may also be asked to pay an application fee.
- Wait for Admission: You are likely to receive your admission letter by the end of spring. You will need this letter to apply for a student visa to Canada, if applicable.
Degree Duration: How Long Does It Take to Study Business in Canada?
Bachelor’s programs in business in Canada usually take four years to complete. Students can also apply for part-time, online, or distance learning programs, the duration of which will depend on the university. If you wish to further advance your knowledge and skills in a particular business area, you may enroll in a master’s program. A master’s degree program in business can take anywhere from one to three years to complete in Canada.
An MBA is also among the preferred areas of study for international students in Canada. The duration of a regular MBA program in Canada is two years. Moreover, some universities in Canada offer Accelerated MBA programs, which take around 18 months to complete. Some universities also offer one-year MBA programs.
Tuition Fees: How Much Does It Cost to Study Business in Canada?
Business school in Canada can be rather costly, especially if you are aiming for some of the top business schools in the country. The cost of tuition for business programs for international students vary; generally, they are lower for undergraduate programs and higher for graduate programs. You can expect tuition fees at some of the top business schools in Canada to be over CA$20,000 per year. Highly reputable schools usually have higher tuition fees, so keep this in mind while searching for a business school.
MBA programs are usually more expensive than bachelor’s or master’s programs. For example, the University of Toronto, one of the top business schools in the country, charges domestic students around CA$92,500 for both years; and international students around CA$127,900 for the same program. Before you make your decision, remember that many schools in Canada have special programs and funding options for international students.
Business Career Prospects in Canada
The business and finance sector in Canada is among sectors that are expected to have an increase in job opportunities in the future, according to the Conference Board of Canada. Business graduates from Canadian institutions are appreciated in the international job market because of Canadian universities’ exceptional academic reputation. Moreover, regardless of the field of work you decide to pursue with a business degree, you will enjoy a financially rewarding career. Average salaries for individuals working in business areas in Canada include finance and banking (US$72,000), marketing (US$60,000), and human resources (US$50,000).