The cost of pursuing an MBA in Canada for Indian students typically falls in the range of 18.45 lakhs to 25 lakhs per year. This cost remains consistent even when considering prestigious Canadian institutions such as Concordia, University Canada West, and York University. Notably, tuition fees for top-tier MBA programs in Canada can soar to as high as 70 lakhs per year. Nevertheless, studying for an MBA in Canada proves to be a more cost-effective option when compared to the United States, where the average fees range from 25 lakhs to 40 lakhs per year. If we factor in the cost of living, the overall expenses for an MBA in Canada remain lower than those in the USA. For a comprehensive comparison, please refer to “MBA in Canada vs MBA in USA.”
Before embarking on their MBA journey in Canada, Indian students must also budget for pre-arrival expenses, totaling approximately 9 lakhs. This sum includes charges for standardized tests, application fees, Canadian visa fees, the Guaranteed Investment Certificate (GIC), and health insurance. Now, let’s explore the MBA fees in Canada when converted to Indian rupees.
Accommodations Cost in Canada in Indian Rupees
Students can choose between on-campus or off-campus housing options. On-campus accommodations range from 3000 to 7500 CAD a year, this is 1,68,000 INR to 4,21,000 INR. Off-campus housing charges vary from city to city.
|Province||Avg Monthly Rents in INR|
Other Expenses in Canada
There are a lot of expenses involved when staying abroad, such as accommodations, book & materials, food, internet, phone, etc. The cost of living in Canada and maintaining a lifestyle are as follows:
|Expense||Monthly Costs in INR|
|Books and Material (yearly)||Up to 1 lakh|
|Health Insurance||33,000 to 55,000|
|Phone & Internet||2,000|
MBA graduates who successfully complete a two-year master’s program at a Canadian university are eligible for a three-year work permit and an annual salary that ranges between CAD 88,000 and CAD 98,000 i.e around 54.15 lakhs to 60.30 lakhs for an Indian student.
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Cost of MBA in Canada in Indian Rupees: Highlights
|Expense Type||Costs (INR)|
|IELTS Fee/ TOEFL Fee (one-time)||12,000 INR/14,500 INR|
|Application Fees (one-time)||5000 INR to 9000 INR|
|Tuition Fees (yearly)||3 lakhs INR to 73 lakhs INR|
|Books and Material (yearly)||Up to 1 lakh INR|
|Accommodations (yearly)||0.33 Lakhs INR to 7 Lakhs INR|
|Purchase of GIC (one-time)||5.5 Lakhs INR|
|Visa Application Fees (one-time)||8,400 INR|
|Biometric for Visa Fees (one-time)||4,700 INR|
|Health Insurance (yearly)||50,000 INR|
|Airfare (one-time)||33,000 INR onwards|
|Food and Beverages (yearly)||22,000 INR to 26,000 INR|
mba canada cost international students
MBA in Canada for Indian Students: According to the QS World University Rankings 2024, 7 of the world’s top 150 universities are in Canada. Canada is one of the safest places in the world, and has been tagged as the world’s most educated country based on OECD data; for these reasons, Canada is becoming an attractive destination for international students. In this article, we will look at studies in Canada for international students, and we will focus more on an MBA in Canada. We will also inform you about the duration of the course, fee structure, cost of living, eligibility criteria and post-study opportunities with respect to MBA programs in Canada.
Why Pursue MBA in Canada?
A booming economy, cultural diversity, and pro-immigration policies of this country attract students from across the globe. High living standards, affordable and quality education, a multicultural society, and a dynamic and well-integrated labour market make this country a hot favourite among international students. It is amongst the top five destinations in the world for pursuing higher education.
MBA in Canada: Advantages
Whether you want to work in a managerial position, or as an entrepreneur, a good MBA degree will always help you manage a business more effectively. MBA is fruitful for those who want to gain managerial acumen. Companies prefer professionals who have good communication and interpersonal skills, along with the ability to solve complex problems in a competitive business environment.
Benefits of pursuing MBA from Canada are:
- The admission and visa processes are simple.
- Education institutes/colleges in Canada offer internationally recognized degrees at a relatively affordable cost.
- Business programs offered by Canadian institutes give a boost to the careers of MBA professionals, thus ultimately enhancing their earning potential.
- The internship programs help the students to get an insight into the industry.
- The MBA degree helps in gaining practical knowledge, which can be applied in real-world business scenarios.
Canada MBA Fees
MBA fees in Canada can range from CAD 30,000 to CAD 126,600 per year depending on the programme and university to which you have applied. Canada MBA fees is relatively less as compared to the MBA fee in the US. However, a lesser fee does not necessarily mean lesser quality. MBA in Canada for Indian students is one of the most popular and rewarding courses when it comes to studying abroad. Not only do international students have an opportunity to work in Canada after their MBA, but also they have access to one of the most remunerative job markets in the world.
Students need to note that in addition to the tuition fee for MBA in Canada, they will also incur a cost of living in Canada, which will be nearly CAD 19,000 per annum. However, the cost of living can vary greatly based on the location and lifestyle of a student.