International students from across the globe study at business schools in Canada each year ©Unai82 / iStock
Canada and the USA are two of the most popular study destinations in the world—and it’s easy to see why. Both are home to globally-renowned business schools that can help you unlock a dynamic job market.
But if you’re thinking of studying in North America, how do you decide between the two countries? We spoke to four students to learn why they ultimately chose to study an MBA in Canada rather than the US.
A welcoming and inclusive community
An MBA is about so much more than post-business school salaries. It’s a chance to broaden your horizons, develop as a person, and embark on a new journey. That kind of experience could be far more enriching than any financial aspect.
Canada is known for being a friendly, warm and welcoming place - something which manifests itself in the country’s schools and universities. Shikhank Sharma is a participatory grantmaking lead at RADIUS and an alumnus of the MBA program at Simon Fraser University (SFU) Beedie School of Business. He says that the close-knit community feel of the program was immediately noticeable, and one of its biggest benefits.
“The inclusive and welcoming culture in the MBA program, and the community I built through it, made my transition [to Canada] seamless,” he explains. “The program brought together students from around the world, fostering a collaborative environment where we grew together and built lasting relationships.”
Yet the benefits of this close-knit community stretched far beyond the classroom. For Shikhank (pictured) - an Indian international graduate - it helped him forge long-lasting relationships that would benefit him personally and professionally. In the end, the network he built was a major factor in his decision to stay in Canada post-MBA.
“What ultimately influenced my decision to stay in Canada was the strong professional network I built during my MBA,” he says. “The connections I formed with faculty, peers, and industry leaders provided me with meaningful opportunities to shape my career on my own terms, allowing me to do impactful work while continuing to grow in a dynamic and supportive environment.”
Shikhank adds that he wasn’t the only member of his cohort to stay in Canada after graduating. He has retained the close bonds that he formed with his classmates during the program, and his MBA network in Canada remains a ‘tight-knit community that actively supports each other’.
Affordable tuition fees
The cost of studying is consistently cited as one of the most important factors for prospective MBA students. And by that measure alone, Canada has the edge over the United States.
According to Statistics Canada, the average annual cost of an MBA in the country is C$33,127 (US$23,402) for domestic students and C$46,228 (US$32,657) for international students.
In contrast, the Cost of MBA Report 2024 found that the average annual tuition at a US M7 business school sits at US$83,764. As both countries tend to offer mostly two-year programs, you can double these figures to calculate the total tuition.
However, it’s also worth remembering that tuition fees within each country can vary. Rahul Agrawal, a graduate from India who studied for his MBA at Concordia University John Molson School of Business in Montreal, says his choice of city in Canada had a big bearing on the cost of tuition and overall return on investment (ROI) he received.
“Post-MBA, my goal was to get into the supply chain industry,” he says. “John Molson’s career placement statistics showed that a significant chunk of grads were employed by big names in the industry, which reinforced my decision.”
Beyond job prospects, financial stability played a key role. “There is no greater mental peace than living in a country where you wouldn’t be trapped from head to toe in student debt,” Rahul says.
“Staying in Canada has given me access to world-class professionals in my industry. This opportunity is unmatched,” he adds, emphasizing how the country provides international students with strong career growth and economic stability.
After graduating from his John Molson MBA, Rahul is now a pathways operations manager at Amazon.
Fellow John Molson MBA graduate and Montreal native Myriam Selmani agrees. “Montreal is home to excellent business schools with strong reputations and competitive MBA programs, providing a high-quality education without the need to move elsewhere," she says. Myriam is now using her business and technological acumen as a medical science liaison at pharmaceutical leader, GSK.
The total cost of the Concordia John Molson MBA differs depending on your citizenship:
⇨ Canadian, Quebec residents: C$7,679 (approximately USD $5,400)
⇨ Canadian, non-Quebec students: C$21,768 (approximately USD $15,300)
⇨ International students: C$53,511 (approximately USD $37,630)
Tuition fees in Quebec are generally lower than in the rest of Canada because most programs are public and benefit from government subsidies. This explains why local students pay significantly less than international students.
Even though international students pay more than domestic students in Quebec, the total cost of the program is still below the national average for Canadian MBAs—and much cheaper than a comparable MBA in the US. Additionally, the current exchange rate makes studying in Canada even more cost-effective for international students.
A strong MBA ROI
The cost of your program is important, but arguably even more important is the return on investment it provides. That certainly factored into the thinking of Parth Vakani, who graduated from the MBA program at Dalhousie University Faculty of Management in 2023.
Parth, who is now a consultant at The Barrington Consulting Group, says that because Canada can offer similar post-MBA salaries to the US, the lower tuition and cost of living make it a better overall investment.
“My estimation was that the comparatively lower cost of tuition and living makes up for a faster break - even with fairly similar post-MBA earning potential for both countries.”
Parth adds that Canada also has a strong job market in several key MBA industries: “Canadian markets are growing consistently in the field of consulting, finance, technology, and business services. This was a great sign for someone like me, who was starting off from an intermediate level post-MBA.”
Getting an MBA from a leading Canadian business school can help you access well-paid roles in these in-demand industries. And the statistics reflect the idea that the Canadian job market for MBAs is thriving. On average, 92% of job-seeking Dalhousie MBA graduates find a role within six months of graduating. That compares favorably with leading programs in North America.
One unique feature of the Dalhousie MBA is the chance to do a corporate residency during your program. Students work with a local or international firm for eight months, applying the skills they’ve learnt in the classroom in a corporate setting. For Parth, the extra income he earnt during this work term also boosted the ROI of the program.
“Factoring the Dal MBA’s work term as a part of my income while I was in my program gave my decision to come to Dalhousie University a great advantage,” he concludes.
This article is sponsored by the featured business schools.
