Confused between MBA in Canada vs MBA in USA? Read through the article to learn about the differences between the MBA programs of these two countries and select the best option.
MBA in Canada vs MBA in USA, which one is better? This question often confuses international students interested in studying MBA abroad. Students must consider factors like budget, university, admission requirements, scholarships, career opportunities, etc., in order to choose between the two options.
An MBA abroad plays a major role in expanding one’s career horizons, securing attractive salary packages, gaining leadership skills, and enhancing networking opportunities. To help students decide between MBA in Canada vs MBA in USA, we have discussed the differences between the two in detail.
Table of Contents
- MBA in Canada vs MBA in USA: Major Differences
- Reasons to Choose USA for MBA
- Top Universities in USA Offering MBA
- Reasons to Choose Canada for MBA
- Top Universities in Canada Offering MBA
- ROI of MBA in Canada vs MBA in USA
- MBA in Canada vs MBA in USA: Which One to Choose?
MBA in Canada vs MBA in USA: Major Differences
Here we have presented a detailed comparison of MBA in Canada vs MBA in USA based on certain parameters:
|
Point of Difference |
MBA in Canada |
MBA in the USA |
|
Duration |
Most of the full-time MBA courses in Canada are 2 years long, while others may have a duration of around 18 months. |
Full-time MBA programs have 2-year duration but many of them can also be completed in one year. |
|
Eligibility Criteria |
A bachelor’s degree in any discipline |
A bachelor’s degree in any discipline |
|
Exams |
IELTS, TOEFL, GMAT |
IETLS, TOEFL, GMAT |
|
Admission Process |
Applicants must take GMAT and English proficiency tests like TOEFL/IELTS and apply for admissions to the desired university on the basis of results. |
Students must appear for GMAT and ELP Tests (TOEFL, IELTS) and apply for admissions to the desired university on the basis of the scorecard. |
|
Top MBA Specialisations |
Finance, Entrepreneurship, Supply Chain/Logistics, Business Analytics |
Accounting, Finance, Business Analytics, Entrepreneurship, Production/ Operations, Management, Supply Chain/Logistics, Project Management |
|
Cost of MBA (Average Fees) |
USD 70,000 per year |
USD 120,000 per year |
|
Visa |
Canada Study Permit |
F-1 Student Visa |
|
Financial Support |
Scholarships and Education loans |
Students can avail themselves of financial aid in the form of 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 3,500 |
Reasons to Choose USA for MBA
Here are some reasons why international students can consider pursuing an MBA from USA:
Top-Ranked MBA Institutions
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.
Lucrative 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.
High-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.
Top Universities in USA Offering MBA
Here are the top-ranked business schools in the USA for students looking to study an MBA program. We have also mentioned the type of MBA programs offered, along with duration and fee details:
|
University |
Duration |
Annual Fee (INR) |
|
- |
INR 15,40,019 |
|
|
Suffolk University - MBA Marketing |
11 Months |
INR 32,30,913 |
|
Suffolk University - MBA Finance |
11 Months |
INR 33,47,898 |
|
University of Dayton - MBA |
- |
INR 12,64,005 |
|
18 Months |
INR 13,81,061 |
|
|
George Mason University - MBA |
23 Months |
INR 29,78,084 |
|
Adelphi University - MBA |
- |
INR 22,29,096 |
|
Pace University - MBA |
18 months |
INR 22,67,382 |
|
Stanford Graduate School of Business |
21 Months |
INR 51,80,096 |
|
Harvard Business School |
21 Months |
INR 52,06,896 |
Reasons to Choose Canada for MBA
Here are the reasons why Canada is a top study destination among study abroad aspirants for pursuing an MBA program:
High Academic Standards
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.
Excellent Employment 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 at the second position among easiest places in the world to start a business.
Flexible Immigration Options
Post completion of the course, an international student can apply for an immigration process and can avail an option to work legally in the country. The immigration process in Canada is easier as compared to other countries and especially the US.
Top Universities in Canada Offering MBA
The table below shows the top-ranked business schools in Canada for studying an MBA. Additionally, details like duration and course fees are also mentioned.
|
University/ B-School |
Duration |
Course Fees (INR) |
|
19 Months |
INR 27,00,000 |
|
|
Queen’s University- Stephen JR Smith School of Business |
20 Months |
INR 24,19,130 |
|
12 Months |
NA |
|
|
16 Months |
INR 8,97,697 |
|
|
20 Months |
INR 8,97,697 |
|
|
16 Months |
NA |
|
|
12 Months |
INR 8,80,308 - 11,20,763 |
|
|
Schulich School of Business |
16 Months |
INR 28,27,854 |
ROI of MBA in Canada vs MBA in USA
ROI is one of the most crucial factors 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 $94,300 a year with average bonuses of $11,300 and base salaries around $83,000. In the US, the margin is slightly higher with MBA graduates earning average bonuses of $18,800 and overall salaries averaging an impressive $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: Which One to Choose?
Pursuing MBA abroad really helps in understanding the concepts related to business and trade from a global perspective.Based on all these factors, we can say that MBA in USA and MBA in Canada are the most sought-after countries for pursuing MBA. Both these countries have the world’s top-ranked universities, world-class facilities for the students, great faculty and amazing growth rate.
As both the countries are the best in what they do, it becomes very difficult to decide any one. Therefore, there is no particular answer to which one is better among MBA in Canada vs MBA in USA. It completely depends on the student’s interests, career goals, and priorities. Moreover, keeping in mind the above-mentioned factors, students can figure out which one is best suited for them.
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