Top 12 MBA Colleges in Canada [Ranking, Fees, Scholarships & More]

Canada is quickly becoming a popular choice for students around the world who want to pursue an MBA. The country is home to some of the top colleges for an MBA, offering a top-quality education. Along with that, Canada’s diverse culture and welcoming environment make it an attractive place to study. One of the main reasons students choose an MBA in Canada is the affordable tuition compared to countries like the US or the UK. In addition to education, Canada is known for its strong economy, good healthcare, and friendly immigration policies, making it a great option for students looking to settle there after graduation. In this blog, we will explore the top MBA colleges in Canada along with their ranking, course fees, duration, and more.

QS Global MBA Rankings for Top MBA Colleges in Canada 2025 

Canada has some of the top-ranked MBA programs globally. Here is a quick comparison of some of the top business schools in Canada based on the QS Global MBA rankings:

Top 12 MBA Colleges in Canada

Canada offers a variety of MBA options tailored to diverse business interests. Below are the top 12 MBA colleges in Canada providing academic excellence, global networks, and access to prominent industries across multiple sectors:

1. University of Toronto – Rotman School of Management

The University of Toronto’s Rotman School of Management offers a two-year full-time MBA program, known as one of Canada’s best. The program stands out for its challenging curriculum and global connections. The average GMAT score for this program is 674, where most students have about 4 years of work experience before joining. Rotman offers great flexibility in its program, allowing students to choose from over 100 elective courses and 15 specialized majors to fit their career goals.

For admissions, candidates need to have a bachelor’s degree, ideally with a GPA of 3.0 or higher. Applicants must submit GMAT or GRE scores, along with two recommendation letters. A video interview is also part of the process. Non-native English speakers need to provide IELTS or TOEFL scores. While at least two years of work experience is recommended, it’s important to know that Rotman values professional experience when reviewing applications. 

Here’s a table highlighting key details of the MBA program at the University of Toronto:

Category	Details
Course Fees	₹84.33 Lakhs/CAD 136,410
Duration	2 Years
Scholarships	– Ontario Graduate Scholarship – Archibald Macmurchy Memorial Scholarship
Average Salary	₹ 86.58 LPA/CAD 139,966
QS Ranking	1
Top MBA Specializations	– Finance – Marketing – Accounting – Executive MBA – Financial Risk Management – Global Management – Strategy – Consulting – Operations Management

2. McGill University – Desautels Faculty of Management

The McGill Desautels Faculty of Management is one of the top MBA schools in Canada. It offers a highly competitive one-year full-time MBA program. The curriculum of the program is cross-disciplinary, integrating leadership and innovation with practical, real-world experience. Students also benefit from McGill’s world-renowned faculty, including scholars who have won Nobel Prizes, making the academic environment even more impressive.

For admission, applicants need a bachelor’s degree with a recommended GPA of 3.0 or higher. Submitting GMAT or GRE scores is mandatory, along with two letters of recommendation. Non-native English speakers must provide TOEFL or IELTS scores. Candidates are expected to have at least two years of professional work experience, though having more can give you a competitive edge. 

Here’s a table highlighting key details of the MBA program at McGill University:

Category	Details
Course Fees	₹61.77 Lakhs/CAD 99,500
Duration	The 48-credit program can be completed in 12 months. The 54-credit takes 20 months.
Scholarships	– Kelly Family MBA Leadership Award – Sandhya and Swati Sharma MBA Leadership Award – Dr. Soo Kim Lan Scholarship – Robert Zittrer MBA Leadership Award
Average Salary	56.85 LPA/CAD 92,000
QS Ranking	2
Top MBA Specializations	– MM in Analytics – MM in Finance – MM in Retailing – Global Manufacturing and Supply Chain Management – Graduate Certificate in Healthcare Management – Graduate Certificate in Professional Accounting

3. Western University – Ivey Business School

Western University’s Ivey Business School offers a highly respected 12-month full-time MBA program, known for its unique case-based learning approach. This method allows students to engage with real business challenges, developing critical thinking and decision-making skills. Ivey also focuses on leadership development through its Cross-Enterprise Leadership (CEL) approach, which helps students manage complex business issues and make confident decisions in uncertain situations. 

To apply at Western University, candidates need to have a bachelor’s degree, GMAT or GRE scores, and at least two years of professional work experience. Additionally, applicants must provide two recommendation letters and go through an interview as part of the admissions process. 

Here’s a table highlighting key details of the MBA program at Western University:

Category	Details
Course Fees	₹78.59 Lakhs/CAD 126,600
Duration	1 Year
Scholarships	– OGS Scholarships for International Students – MBA – Western Scholarship of Excellence – International President’s Entrance Scholarships
Average Salary	₹80.5 LPA/CAD 131,282
QS Ranking	3
Top MBA Specializations	– Finance – Entrepreneurship – Marketing – Corporate Strategy & Leadership – International Management

4. Queen’s University – Smith School of Business

The Smith School of Business at Queen’s University is one of the best MBA colleges in Canada. The university offers a unique team-based learning experience. This 12-month full-time MBA is designed to build leadership skills through collaboration, personalized coaching, and hands-on learning. Smith graduates see a strong return on investment, with 97% securing jobs within three months of finishing the program, and an average post-MBA salary of CAD 101,385.

Candidates need a bachelor’s degree, GMAT or GRE scores, and at least two years of professional work experience to apply at Queen’s University. The admissions process also requires two letters of recommendation and a personal interview. 

Here’s a table highlighting key details of the MBA program at Queen’s University:

Category	Details
Course Fees	₹46.2 Lakhs/CAD 74,464
Duration	1 Year
Scholarships	– F. W. Minkler Award – Susan Nelles Scholarship – PwC Diversity and Inclusion Scholarship – A. E. MacRae Award in Creative Leadership
Average Salary	₹62.57 LPA/CAD 101,385
QS Ranking	4
Top MBA Specializations	– Consulting – Digital Business – Entrepreneurship & Innovation  – Finance – Management Analytics – Marketing & Sales

5. University of British Columbia – Sauder School of Business

The Sauder School of Business at the University of British Columbia, located in Vancouver, provides a globally focused MBA program with a special emphasis on the Pacific Rim. This two-year full-time MBA program is designed to give students a thorough understanding of business dynamics in the Asia-Pacific region.

With over 140 faculty members recognized worldwide for their research and teaching, students receive top-notch education and support. Sauder also offers specialized degrees, including an MBA in business analytics and an international MBA in Shanghai. These options allow students to tailor their studies to fit their career goals and interests. Overall, UBC Sauder stands out for its strong academic foundation and commitment to preparing students for success in a rapidly changing global business environment. 

Here’s a table highlighting key details of the MBA program at the University of British Columbia:

Category	Details
Course Fees	₹44.03 Lakhs/CAD 70,919
Duration	16 Months
Scholarships	– Faculty of Arts and Social Sciences Graduate Entrance Awards – UBC Karen Mckellin International Leader of Tomorrow Award – Outstanding International Student Award – International Major Entrance Scholarship – K.C. Mahindra Scholarships For Post-Graduate Studies Abroad
Average Salary	₹60.6 LPA/CAD 98,000
QS Ranking	5
Top MBA Specializations	– Climate – Technology & Analytics Leadership – Finance – Product & Service Management – Innovation & Entrepreneurship

6. York University – Schulich School of Business

The Schulich School of Business at York University offers a flexible MBA program that lets you choose from full-time, part-time, and executive options. This program covers the basics of business while focusing on important issues like social responsibility, sustainability, and a global outlook. Schulich combines challenging coursework with hands-on learning, making it a great choice for those aiming for careers in global business leadership. With its strong reputation and diverse program options, Schulich helps students build the skills they need for success in today’s business world. 

Here’s a table highlighting key details of the MBA program at York University:

Category	Details
Course Fees	₹37.89 Lakhs/CAD 61,866
Duration	8-20 Months
Scholarships	President’s International Scholarship of Excellence Tentanda Via Award – International The Goldberg Leadership Award of Excellence The Global Leader of Tomorrow Award for International Students York University- International Student Emergency Bursary
Average Salary	₹82 LPA/CAD 98,165
QS Ranking	5
Top MBA Specializations	– Accounting – Arts, Media & Entertainment Management – Business Consulting – Digital Transformation – Entrepreneurial Studies – Finance – Global Metals and Minerals Management – Health Industry Management

Also Read: Top MBA Colleges in the World

7. University of Alberta – Alberta School of Business

The Alberta School of Business is among the best universities in Canada for pursuing an MBA. It offers a highly personalized 20-month full-time MBA program designed for a small cohort of 80 students. This smaller class size allows for an intimate, team-based learning experience where students receive more individual attention from professors and have the chance to collaborate closely with their peers.

The curriculum covers essential business fundamentals and includes eight elective courses. This setup enables students to customize their degrees and specialize in areas such as natural resources, energy and environment, innovation and entrepreneurship, and public policy and management. The school also offers flexibility with different degree options. Students can choose from a part-time (evening) MBA, an executive MBA, or a master of financial management. 

Here’s a table highlighting key details of the MBA program at the University of Alberta: 

Category	Details
Course Fees	₹17.91 Lakhs/CAD 28,847
Duration	20 Months
Scholarships	– University of Alberta – India First Year Excellence Scholarships – Cora Martinson International Scholarship – President’s International Distinction Scholarship – International Admission Scholarship – Gold Standard Scholarship
Average Salary	₹77.82 LPA/CAD 1,26,278
QS Ranking	7
Top MBA Specializations	– Finance – Business Analytics – Accounting – Energy Finance – Supply Chain Management – Management Consulting – Entrepreneurship – International Business – Public Sector and Healthcare

8. Concordia University – John Molson School of Business

The John Molson School of Business at Concordia University, located in Montreal, offers a well-rounded MBA program known for its affordability and strong academic reputation. The school requires a GMAT score of 580 or higher, an IELTS score of 7 or above, and a GPA of 3.0 or higher for admission.

Tuition fees are CAD 8,000 per year for domestic students and CAD 23,950 for international students, making it one of the most competitive MBA programs in terms of return on investment. This program is ideal for students looking for strong academic and professional opportunities at an affordable price, making it a great choice for aspiring business leaders. 

Here’s a table highlighting key details of the MBA program at Concordia University: 

Category	Details
Course Fees	₹14.87 Lakhs/CAD 23,950
Duration	2 Years
Scholarships	– Concordia Presidential Scholarship – Brian T. Counihan Scholarship for Outstanding Contribution to Student Life – Concordia International Scholars
Average Salary	₹56.12 LPA/CAD 91,133
QS Ranking	8
Top MBA Specializations	– Marketing – Finance – Human Resources – Business Analytics – Corporate Finance – Management Consulting – Health Administration

9. HEC Montréal

HEC Montréal is considered one of the best MBA colleges in Canada. It is well-known for its practical approach to business education, focusing on hands-on experiences through case studies, debates, and consulting projects. Students have the chance to engage in creative problem-solving through opportunities like the creative destruction lab and real-world consulting field projects. This emphasis on practical skills and innovation helps prepare students to effectively navigate complex business environments. 

Graduates of HEC Montréal see an average salary increase of 28% after completing the program, with a strong employment rate of 91% within six months of graduation. This reflects the solid return on investment offered by the school. 

Here’s a table highlighting key details of the MBA program at HEC Montréal: 

Category	Details
Course Fees	₹38.86 Lakhs/CAD 62,600
Duration	1 Year
Scholarships	– Admission Scholarship (MBA) – Ambassadeur International Association des Diplômés Scholarship – Arbour Foundation Scholarship – Diane Giard Scholarship – Famille Schauer Scholarship – Fondation Thérèse et Guy Charron – HEC – Edouard-Montpetit Bursary  – INSPIRATION MBA HEC Montréal Scholarship  – Jacques Bourgeois Scholarship
Average Salary	₹63.73 LPA/CAD 103,500
QS Ranking	9
Top MBA Specializations	– Operations Management – Marketing – Information Management – Entrepreneurship – Technology Management

10. McMaster University – DeGroote School of Business

The DeGroote School of Business at McMaster University, located near Toronto in Burlington, is known for its community-driven values and commitment to making a positive impact on business and society. Accredited by the AACSB, DeGroote offers a variety of MBA programs, including an MBA with Co-op, a Full-Time MBA, and an Accelerated MBA. 

The school is particularly recognized for its world-class finance program, which ranks between 121 and 130 globally. With its focus on collaboration and integrity, DeGroote prepares students to become effective leaders who can drive change in the business world. 

Here’s a table highlighting key details of the MBA program at McMaster University: 

Category	Details
Course Fees	₹41.46 Lakhs/CAD 66,780
Duration	2 Years
Scholarships	– Coca-Cola Scholarship – The Dundas Scholarships – Provost Entrance Scholarship for International Students – Deca Alumni Entrance Scholarship – DeGroote MBA Admission Scholarship Competition
Average Salary	₹50.41 LPA/CAD 81,900
QS Ranking	9
Top MBA Specializations	– Accounting and Financial Business Analytics – Finance – Health Services Management – Strategic Marketing – Strategic Business Valuation

11. Dalhousie University – Rowe School of Business

Dalhousie University is one of the top MBA colleges in Canada located in Halifax. It stands out for its flexibility, offering both full-time and online/distance learning options. This flexibility is perfect for students who need to balance their studies with work or other commitments. To gain admission, applicants must have a GPA of 3.0 or higher and demonstrate strong English proficiency, with an IELTS score of 7.0 or a TOEFL score of 102 or above. 

The school provides a solid academic foundation, making it ideal for those who prioritize flexibility in their education. With its focus on practical learning and diverse study options, Dalhousie equips students with the skills they need to succeed in the business world. 

Here’s a table highlighting key details of the MBA program at Dalhousie University: 

Category	Details
Course Fees	₹27.30 Lakhs/CAD 43,968
Duration	2 Years
Scholarships	– Abdul Majid Bader Graduate Scholarship – CorpFinance International Limited (Kevin Andrews) Indian Bursary – A.S. Mowat Prize Scholarship – WeAreAllCS Women in Technology Entrance Scholarship – General Entrance Award Program Scholarship
Average Salary	₹35.7LPA/CAD 58,000
QS Ranking	11
Top MBA Specializations	Corporate Residency

12. University of Calgary – Haskayne School of Business

The Haskayne School of Business at the University of Calgary offers a full-time MBA program and an Executive MBA program aimed at professionals looking to enhance their leadership skills. Haskayne’s MBA programs require students to have a solid academic background. For international students, the IELTS requirement is 7.0 and the TOEFL score must be 97 or higher. 

The school focuses on leadership development, practical experience, and a rigorous academic structure. This combination prepares students to excel in their careers and make a significant impact in the business world. 

Here’s a table highlighting key details of the MBA program at the University of Calgary:  

Category	Details
Course Fees	₹23.82 Lakhs/CAD 39,697
Duration	2 Years
Scholarships	– University of Calgary International Entrance Scholarship – Alberta Innovates Graduate Student Scholarships (Faculty of Arts & Engineering) – University of Calgary International Entrance Award
Average Salary	₹97.71 LPA/CAD 1,58,713
QS Ranking	11
Top MBA Specializations	– Finance – Entrepreneurship and Innovation – Marketing – Project Management – Real Estate Studies

Cheapest MBA Colleges in Canada

Canada offers some of the most affordable MBA programs globally for students seeking high-quality education without breaking the bank. Here’s a table for the cheapest MBA colleges in Canada:

University	Accreditation	1st-Year Tuition Fee (₹)	Duration	QS World University Ranking 2024
Memorial University of Newfoundland	AACSB	₹10.41 lakhs	1.5 – 2 Years	641 – 650
University of Northern British Columbia	UArctic, ACU, AUCC, IAU	₹9.24 lakhs	2 Years	781 – 790
University of Manitoba	AACSB	₹29.87 lakhs	2 Years	671 – 680
University of Saskatchewan	AACSB	₹33.93 lakhs	2 Years	345
University of New Brunswick	AUCC, CARL, IAU	₹12.57 lakhs	2-4 Years	711 – 720
University of Waterloo	AACSB	₹42 lakhs	1 Year	112
University of Ottawa	ACU	₹40.89 lakhs	2 Years	203

Note: Looking for your dream college abroad for MBA & Masters? Choose from 4000+ colleges and get personalized counseling for free through Internshala’s study abroad program.

Top MBA Colleges in Canada without GMAT/GRE

While the GMAT or GRE is often a standard requirement for MBA admissions worldwide, many top Canadian institutions provide MBA programs that waive these tests for qualified candidates. Below is a table showcasing the top MBA colleges in Canada that offer programs without requiring the GMAT or GRE:

University	Program Type	Details
Rotman School of Management, University of Toronto	Executive and Part-time MBA	Offers Executive and Part-time MBA programs that do not require GMAT for international students.
Thompson Rivers University (TRU)	Full-time MBA	Offers MBA without GMAT or work experience. Applicants must show academic excellence and an undergraduate business degree.
Vancouver Island University (VIU)	Full-time MBA	Does not require a GMAT or work experience. Suitable for students with a strong academic background.
University of Northern British Columbia	Full-time MBA	Offers MBA without GMAT, requires GRE as a substitute, no work experience needed if the candidate demonstrates academic excellence.
New York Institute of Technology (NYIT)	Full-time MBA	No GMAT is required. Applicants need to meet academic standards.
University Canada West (UCW)	Full-time MBA	Offers MBA without GMAT for applicants with strong academic records or business degrees.
Smith School of Business, Queen’s University	Executive MBA	Provides an Executive MBA program without GMAT requirements.
DeGroote Business School, McMaster University	Executive MBA	Does not require GMAT for Executive MBA applicants.
Schulich School of Business, York University	Executive MBA	Offers an Executive MBA without GMAT, suitable for professionals with strong business experience.
Lakehead University	Full-time MBA	Provides MBA without GMAT or work experience, open to candidates with strong academic performance and business undergraduate degrees.
Ivey Business School, Western University	Accelerated and Executive MBA	Offers Accelerated and Executive MBA programs without GMAT requirements.
Wilfrid Laurier University, Toronto Campus	Full-time and Executive MBA	Does not require GMAT for students with strong academic credentials or business degrees.
Haskayne School of Business, University of Calgary	Executive MBA	Offers an Executive MBA program without requiring GMAT for candidates with extensive work experience.

Eligibility Criteria to Study MBA in Canada

To study for an MBA in Canada, you need to meet certain eligibility criteria that cover your education, work experience, and English skills. Here’s a simple breakdown of the requirements:

• Bachelor’s Degree: You need to have a bachelor’s degree from a recognized university. While most Canadian universities require a four-year bachelor’s degree, some may accept a three-year degree, depending on the program and institution.
• GMAT Score: The GMAT (Graduate Management Admission Test) is an important part of the application process. Most top universities require a GMAT score ranging between 550 and 700 out of 800. The higher your score, the better your chances of getting into a reputable MBA program.
• Work Experience: MBA programs in Canada usually look for applicants with work experience. On average, universities prefer candidates with 3 to 5 years of relevant professional experience. However, some programs may accept applicants with at least 12 months of work experience.
• English Language Proficiency: If English isn’t your first language, you’ll need to prove your proficiency in English. Most universities accept IELTS (with a minimum score of 7.0) or TOEFL (with a minimum score of 95 or above).

Also Read: Exams to Study Abroad

Conclusion

Pursuing an MBA in Canada offers many benefits, from quality education to strong career opportunities. The top MBA colleges in Canada provide a variety of programs that can suit different career paths, and emphasize hands-on learning and networking. Whether you’re looking for an affordable program or one that doesn’t require the GMAT, there are plenty of options available in the country.

If you want to get more information on living expenses in Canada, check out our detailed guide on the cost of living in Canada for international students.

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