Study MBA in Canada
Canada has basically become a haven for the students’ opting for an MBA. It has an apt environment for study. And also provides the students with internationally acknowledged modes and teaching and experience. They have universities which are listed among the top and also are globally recognized. Almost ten cities of the country beginning from Vancouver to Toronto, the cities have quite impressively developed.
Gradually with time, Canada has been listed among the top five destinations around the world for providing higher education. It harbors numerous universities and colleges. Apart from that being among the top business national, the MBA in Canada has secured quite an importance worldwide. Additionally, they also provide their students with academic, professional and vocational programs.
There are very obvious reasons why an MBA in Canada is mostly sought after every year. The first and foremost is that the MBA cost is quite reasonable, even if not too low, definitely is not equivalent to the cost of studying in the United States and the United Kingdom. More importantly, prior to the cost and admission comes the visa and application procedures. They turn out to be really easy and hassle-free if a person follows normal ways and proceeds as directed will not really have to face any such difficulty but in case of any exceptional. MBA has never been about only the academics, but grooming a person to step on and survive in their corporate lives. Canada very importantly sees the fact that they arrange programs for the students which will promote the earning ability of the students and also their career potential. It has been said that 1/3 business programs outside the USA are the Canadian ones. Next, they focus on all the fields equally; therefore one can widen their exploration to all the courses of the business world. Since there becomes an accumulation of thousands of students from vastly different regions and religions, a cultural bond and understanding develop. Strong relations are built indirectly enhancing a grand blend of different heritages. The course in Canada do not only get over with the listed programs, but they offer a wide number of internship projects which allows the students to get a better view and a practical experience and also the touch of the reality of the arena they are soon to work for.
Many a student prefer UK and USA over Canada, thinking the formers to be far better and promising than the latter. But there are bits of misconceptions. USA and UK are obviously brilliant places for studying MBA but that in no way means that Canada isn’t up to the mark. Rather Canada does offer some facilities that the formers may not. Beginning from the application of visa to the online application of the course Canada has eased up the process to a considerable extent. A candidate has only to fill up the conditions and criteria. They also offer opportunities for working both off and on campus. They have quite a high statement life style, somewhat equivalent to that of Australia, New Zealand, etc.
- ELIGIBILITY CRITERIA:
Eligibility condition for obtaining in Canada is a bit different. The conditions are different with Undergraduate Degree and Diploma and Postgraduate degree and Diploma.
- UNDERGRADUATE DIPLOMA/ DEGREE:
The conditions are basically the same for both the Diploma and Degree course:
- A minimum of 12 years of schooling from a recognized board is needed
- A file of furnished transcripts and authentic certificates needed.
- Mathematics as the main subject is a must among the class 12 subjects.
- Students have to secure a standard score in either IELTS or TOEFL to prove their proficiency in English
- POSTGRADUATE DIPLOMA/ DEGREE:
The rules are once again same for Diploma as well as Degree, this is more popular than the previous one, and thus the conditions are more seen through
BACHELORS DEGREE: – Most of the universities in New Zealand accept a Bachelor degree or something equivalent to it and has to be a 3-year degree from a recognized university. This is basic for all types of students.
WORK EXPERIENCE: – A minimum of four to five years’ work experience in the respective fields is a must for major reputed universities in New Zealand. There are some universities that offer the course without work experience. More preference is given with students with work experience. Thus it is advisable that even if an institution does not particularly demand it, one should always have it. The work experience criteria can also differ for a number of colleges.
GMAT/GRE: – Some universities need a student (especially international students) to acquire a GMAT or GRE score which ranges from 500 – 600. For some, it is optional, for those it will work as an advantage and may get priorities. And for others, it isn’t needed at all.
TOEFL/IELTS: – Once again international students have to score 6.5 overall along with 6 or higher in every individual band in TOEFL or IELTS. Unlike GMAT, in this case, no universities offer their course with a valid score in these exams. It is mandatory for all international and non-native English speaking students.
- SELECTION OF THE RIGHT UNIVERSITY
It is obviously necessary that one considers his or her financial condition but only focusing on that particularly should never be the sole criteria, here are some ways to research and select the appropriate university through:
- ACADEMIC STANDARDS: –
Educational excellence should be known to all. Choose such a university, which
is often talked of because of their quality teaching, techniques and
technologies and high ranging conduction of class by well-known teachers.
- LOCATION: – Make detailed research about the venue where the institution is located. It is always advisable to go to an area which provides you with daily requirements, as one has to stay there for a quite considerable time. Changing a location may not be very appropriate every time and definitely not easy at all.
- COURSE FEE: – The tuition fees obviously stand above everything while searching for an institution. They matter and differ in various ways. A globally recognized and ranked university will always be much more expensive than a university which is just locally famous. Secondly, it will differ with the benefits given to a student and of course the number and types of gadgets which is in use.
- INTERNATIONAL SUPPORT: – If one gets admitted as an international student, always see to it that the particular university is equipped enough to offer particular services like a brief and quick orientation, accommodation and other advisory benefits. The university should definitely have a well-planned structure.
Maintaining these guidelines is sure to narrow down the search for universities to a considerable level.
- COURSE DURATION AND FEE STRUCTURE:
Like any other MBA course, Canada also conducts MBA courses which have a duration ranging from 16 months up to 2 years. But there are some divisions. Like Executive MBA programs in major colleges do not last more than 17 to 20 months. Other MBA programs like full time, part-time, accelerated MBA follow a general duration of a year or two, or maybe 18 to 16 months, etc. Though there are very rare universities with a duration of more than 2 years, somewhat like 4 to 5 years, some do conduct such prolonged MBA courses.
- FEE STRUCTURE:
The fee structure of the colleges in Canada are though not as expensive as that in the United States and the United Kingdom, they have quite a fee structure which strikes toward the higher range. But one thing to be noted is that the country provides a standard college for all financial levels in society. Thus where one university charge as low as $33, 500 another university hike up a course fee of almost $102,000. High ranking universities with a fee of $121,000 are also available. But then the range of mid-reputed colleges comes in between $50,000 to almost $80,000 and a bit above. Lately, it has been reported by the Statistics Canada that there has been an increment in the course fee in the last couple of space. The tuition fees for the undergraduates have hiked by an average percentage of 3.3 for all domestic students and about 6.3 percent for the international students.
The fees accordingly change as previously mentioned with different programs, not only that other factors which may work to change the fees are the nationality of a student, whether the student is pursuing an undergraduate MBA session or a postgraduate one.
- Tuition Fees for Undergraduates: – Though it is true that a hike has been made in the fee structure, the fees have not risen eye-catchingly. The MBA fees normal count to be lower in range than the other, starting from like $27,000.
- Tuition Fees for Postgraduates: – The postgraduate fees uniformly increase by a single percent. As has been previously said they have a starting price for about $50,000. Regular MBA cost a bit less on an average.
Another important aspect that comprises of the fee structure is Health Insurance as well as Travel Insurance.
In the case of health insurance, it is a mandatory condition one needs to fulfil for studying in Canada. Almost all universities abroad follow this procedure. One can’t continue studying without having health insurance. But then unlike some places Canada do not offer any specific plans for insurance, rather some of the universities offer some plans namely University Health Insurance Plan (UHIP) or Medical Services Plan (MSP) or BC Health Plan. These insurance plans are quite flexible to deal with. The cost of the plan can change with the course duration, the provided coverage, extended coverage, etc. Not always does one have to opt for a different insurance plan; some universities do offer insurance including the tuition fee i.e. the insurance expenses remain added to the course fee. One must research the university opted to avoid any further confusion.
The travel insurance, unlike health insurance, is not mandatory, yet it is an added advantage to have travel insurance. Because during the course students have to travel a lot, the reason may be related to the course or for any other miscellaneous purpose. It has been noticed students with travel insurance are subjected to a lower transportation cost.
- APPLICATION PROCESS AND DOCUMENTS REQUIRED:
A student must apply before 15 to 18 months since it involves international authorities, the procedure may take a longer time. A list of documents is required and they are stated below:
- A valid Passport
- Letters of Recommendation
- Original Records of School or Colleges
- Complete Application form along with Passport size photos
- Documents related to the Visa
- Statement of Purpose or Essays as instructed by the universities
- Authentic Financial Transcripts
- Scholarship Certificate( if applicable)
- Other documents directed by the respective universities.
It is always better to confirm with the institution if they require any other specific documents.
The printed and easily downloadable application forms are normally available in the official websites of the respective universities which can be used as the regular forms but if not the candidate may write an email asking to provide him or her with the online form. The charge of the form is different from different colleges. The application procedure goes as the following:
Firstly, fill in the online application form which is usually available in the official website of the university. Applicants have to download the form and attach with it a complete set of documents as per the given instructions.
Secondly, after the form is done away with, students will have to make a payment of the Application fee to get registered.
Next step comes around with interviews which may be conducted through phone calls or other electronic modes like a laptop or computer interview through video calling applications, etc.
Lastly, international students selected to study for more than three months will have to apply for their student visa.
The procedure might vary a bit according to the requirements and instructions of a particular college, or else the basic procedures are almost the same.
- JOB OPPORTUNITIES AND COST OF LIVING:
MBA has always offered the best packages in the world of jobs, MBA candidates are very well paid off, for not only can they apply for the jobs related to the core but can also go for minor digressions. But what is more convenient that students can also work during their MBA course to wriggle out of a financial crisis.
The major job accounted for this course is in various fields like;
- Health Industry
- Accounting and Consultancy
- IT services
- Oil and gas
- Legal job
- Departments of the Canadian government to help in the administration
- Technical Management
- Product Management
- Project Management
As for working while studying, there are minor rules to be followed, like a candidate may work up to 20 hours both on and off-campus during the semesters. And can work full time during winter and summer holidays. The CIC also known as the Citizenship and Immigration Canada also allows students to be working as the co-opt students or interns. A working student as such is required to have
- A Valid student permit
- To be a full-time candidate
- To be a student from a recognized university
- And lastly to be studying such a course which would provide him or her with a valid degree or diploma certificate.
- A social insurance number (SIN) from Service Canada to receive permission for working in the country and also a number of benefits and services that are offered from the government programs.
- COST OF LIVING:
The cost of living is definitely not uniform in all cities for the fields. Living cost termed as the secondary cost are the accumulation of expenditures in transportation, personal expenses and the most important the accommodation costs. The general expense excluding the accommodation cost sums up to almost $2000 per month. Accommodation cost varies widely from place to place and also with the fact whether the student has opted for sharing a room or has one all by himself or herself. It also depends on the distance from the institution. Along with accommodation cost, the overall expense of a candidate should be around $8000. An average list of cost can be said as follows:
- Restaurant Charges: – The reasonable cost can sum up to something around $20 for a single individual. If not he or she visit a posh restaurant and so
- Transportation Cost: – A one-way ticket on a public transport cost something for about $5.
- A loaf of bread: – This means basic food items as such will cost around $3.
- Cinema Ticket, Monthly Gym Fee: – This obviously comes under what it is called as miscellaneous fee including a bit of entertainment and not something of a daily cost. They add up to somewhat $100 per month.
The cost is definitely not uniform for everything in all the cities. Among the eight top cities, Toronto and Vancouver are the most elite and most expensive. Each and every price is given in Canadian Dollar (CAD $) A glance of the cost from city to city is cited below:
- Food Cost: – Among the eight cities Ottawa is the cheapest with a cost of $260. Though Toronto is the most expensive, in case of food prices Edmonton and Quebec City ranges the highest at $380 and $300 respectively, whereas the Toronto costs $290. Others like Vancouver has an equivalent cost to Quebec City, Calgary equivalent to Toronto and Winnipeg and Montreal cost $270 and $280 respectively.
- 1 BHK Rent: – Vancouver yields the highest ranging rent with an amount of $1200-$1500 and then comes Toronto once again ranging from $1000-$1400. Ottawa and Calgary have a more or less same ranging 1 BHK of respectively $700-$940 and $700-$900. Quebec City is quite cheap in this section a price range of $440-$540. Winnipeg bears the most reasonable price which ranges from $650-$730. Edmonton lies in the upper range with $750-$950. The range of Montreal varies quite widely something from $500-$800.
- Household Cost: – Montreal has the lowest household cost something around $720. Ottawa and Vancouver have almost the same expenses at around $780. Toronto, Edmonton, Calgary sum up to an average cost ranging from $830-$850. Winnipeg and Quebec City cost respectively $750 and $760.
Opting for university accommodation, house stays are quite cheaper than private accommodation; and especially university accommodation, which at times provides food along with lodging. Choose the choices carefully and wisely.
- FINANCIAL AID AND SCHOLARSHIPS:
All deserving students may not be able to study such a costly MBA course, but he or she knows they can get through, just if they could receive a bit of help. And there comes the role of such financial awards and scholarships. Obviously, these need to be earned by clearing some basic criteria and fulfilling few eligibilities. The most often applied for scholarships are the following
IVEY MBA SCHOLARSHIPS: – This is the largest funding Scholarship, whose valuation ranges from $10,000 to half tuition. Based purely on merit the parameters are strong GMAT scores, ace professional skills, exceptional leadership qualities, academic excellence, etc. Students can apply multiple times to avail the scholarship. (November, January).
HASKAYNE SCHOOL OF BUSINESS MBA ENTRANCE SCHOLARSHIPS: – It works to help studious students for their near future. It has a valuation of $5,750 for a single year and $11,500 for two years. To continue the scholarship a candidate must secure 10 half- courses every year and a grade of B in his or her course subjects. Students looking for this scholarship must have a good GPA and GMAT score. They need to be a student studying in the daytime or evening sessions. And lastly, for international students with daytime visa are eligible.
ALBERTA MBA SCHOLARSHIPS: – Under this, there are three types of scholarships namely AIMCO MBA Award, Claude Winspear MBA Award, and Michael Lang MBA Award. Each of them gives a benefit of $10,000. While the first is given only to the students pursuing MBA in Finance, the other two are eligible for anyone who is admitted to a full-time course. The eligibility is the usual, a blend of ace leadership qualities, a strong GMAT score, quality academic achievements and excellence not only in academics but also in curriculum.
ONTARIO GRADUATE SCHOLARSHIP: – This is given to students with enrolment in a full-time Masters or Doctoral Program which has to have a duration of almost two or more terms. Its value ranges from $5000 a term to $15000 a year.
ROTMAN SCHOOL OF MANAGEMENT SCHOLARSHIPS: – This again comprises of Rotman Entrance Awards and Fellowships, FortÃc Foundation Scholarships and MGA/MBA Awards. They are automatically considered and do not have to be applied separately. The last two values $40,000 and $30,000 respectively. But the first is a bit different; it offers two popular entrances for students intending to study in Morning and Evening Sessions, $10,000 to five women excelling in the course and also has two morning MBA Awards of excellence valuing up to $20000. Rotman Entrance Awards and Fellowships can be availed by those who study in that particular college and also should be a student holding quality marks in GMAT and TOEFL/IELTS and also studying a full-time MBA program. FortÃc Foundation Scholarships are to be given to female candidates displaying quality of leadership along with a commitment to mentor others via personal interaction. The third and last is awarded to the highest scorer.
SAUDER SCHOOL OF BUSINESS ENTRANCE SCHOLARSHIP: – This too comprises of two types Global Business Leader of Tomorrow Leadership and Accelerated Career Scholarship. They are automatically considered and do not have to be applied separately. The first value is up to $10000-$15000 and the second is $5000-$10000. It is allotted totally based on merits and curriculum activities. Parameters mattering are GPA/GMAT/GRE scores along with performances in interviews and so.
SCHULICH SCHOOL OF BUSINESS SCHOLARSHIPS: – This has two formats of scholarships:
- Entrance Scholarships: – They are of four types Robert Krembil Scholarship of Merit, Seymour Schulich MBA Entrance Scholarship, Scotiabank Scholarships in International Business. The value up to $33000, $24000, $24200, $20000 respectively. Full-time students are only eligible.
- Continuing Students Awards: – Here there are once a gathering of four types of scholarships namely The Thomas Beck MBA Award, Carol Anne Letheren Women’s MBA Award, Sony of Canada MBA Scholarship, and Wigwamen Scholarship. While the 2nd and 3rd carry a valuation of $3000, the 1st values up to $5000 and the last $2,500.
Their eligibility depends solely on merit and the student taking up a full-time MBA program.
- VISA APPLICATION AND STUDY PERMIT:
In Canada, a study permit is needed only if the student plans to stay there for more than 3 months. But it is always advisable to be a holder of a student visa. Because if for any reason a student needs or wants to stay beyond three months, he or she will have to go back to their own country to apply. While the procedure of renewing it could be done while staying in Canada itself. A student visa also allows a candidate to work while studying both on and off-campus. The visa application can be made either by online or paper application from the CIC. The latter takes a longer time. The former will require a debit or credit card along with the provision to create electronic copies of the documents. The documents required will be informed by the visa office of the candidate’s native country; other instructions will be given by them too.
- THE PROCEDURE:
Firstly, the student must hold a letter from the particular university certifying that he or she has been admitted to the college. The province of Quebec needs a special certificate of acceptance from the government of the same also known as the CAQ. This is the first document needed before applying for the student permit.
Secondly, get hold of a Canadian Student Visa Application package either from CIC website or the Canadian Embassy, or the consulate of the native country or lastly by contacting the local office of the native country. There may be a little variation regarding the residence permit, but then it is nothing of complications.
Next, the candidate will be subjected to a number of questions, only if the desirable answers are given, he or she will be considered eligible. After this, they’ll receive a checklist code valid for only 60 days. This has to be submitted online, thus a printout should be taken of the form. It will contain detail instructions of what should be done in the series of steps and also an estimated tuition fee, etc.
Lastly, My CIC account must be created where all the needed details should be filled up. This process will be needing a scanner and printer, for the documents have to be sent to CIC. When the form is completely filled, the payment has been made; the documents will be submitted to CIC. Some candidates may also have to sit for an interview in the local office.
- OTHER REQUIREMENTS:
Students of some nationality may be in need of some extra documents for security purposes, they are as follows
- Students hailing from the Middle East, Europe, Africa can require to provide biometrics i.e. photo and signature.
- Some may have to undergo a medical check-up or police verification. A student may be needed to produce a Police Clearance Certificate clarifying that he or she holds no criminal record.
- Except for US, St. Pierre and Miquelon, others need to have a valid passport proving that they’ll be going back to their original place after the course is over. This is added with the need for two passport size pictures.
- Students will also be in need to show their financial strength, and this can be done by showing any one of the four documents:
- Students will also have to show proof of their funds. This can be done providing any one of the four – A ‘sponsoring a student’ form where the sponsor claims of having the ability to transfer $ 10,000 every year as a minimum cost of living.
- A letter from the instituting stating that all living expenses have been cleared as a part of the course fee.
- A proof from the bank showing that the required amount can be availed while the stay in Canada.
- Canada Scholarship if applicable.
- STUDENTS DIRECT STREAM:
This portal is only applicable to students from countries such as India, China, Philippines, and Vietnam. The process is faster than the general proceedings. Though it has almost the same eligibility criteria as the regular process, the scores required here are a bit higher than usual. If the criteria aren’t met, the application will be transferred to the regular process provided that they meet the latter’s conditions.
- LAST STEPS:
After the application is approved, the Port of Entry will be provided. The students requiring a temporary residence visa and Electronic Travel Authorization eTA will also be provided. The latter will be connected with the passport used to apply for the visa. It’ll be valid for five years but if one’s passport expires this will also expire along with it. With all the documents, passport, financial proof, etc. verified, one can gain access to Canada.
- POST STUDY RULES:
Working in Canada will need a student a Post-Graduation Work Permit. Students studying up to 2 years will get a year to stay in the country, but not more than that without a PGWP. The visa should be applied within 90 days of the courses’ completion. The visa isn’t applicable for a time period of 8 months, but for a minimum of 8 months; in a case for a year or two and if more than two then for a minimum of three years. It can only be applied once for every candidate.
- ELIGIBILITY FOR PGWP:
Except for meeting the general criteria of marks and funds, there are some extra conditions to be fulfilled too in this case
- One can not avail the Canadian Common Wealth Scholarship Program funded by the GAC
- One cannot be part of the Government of the Canada Award Program
- The student cannot be holding any funding from CIDA
- They can’t be in any way related to the Canada-Chile Equal Opportunity Scholarship, Canada-Chile Scholars Exchange Program, Organization of American States Fellowship Program, and Distance Learning Program with Canada.
Only such students aren’t allowed to apply or else everyone can go for this.