Cheapest MBA Programs in Canada for International Students

MBA degrees have become increasingly popular in recent years as more people seek to advance their careers and gain a competitive edge in the job market. However, obtaining an MBA degree can be expensive and disparagingly so for many people. Fortunately, there are a number of affordable MBA programs available in Canada that provide a high-quality education at a fraction of the cost of more expensive options. 

In this article, we will explore some of the cheapest MBA programs in Canada, detailing the programs themselves and their respective costs. Whether you’re just starting your career or looking to make a change, an affordable MBA program in Canada could be the perfect option for you. Read on to learn more about your options and find the perfect program to suit your needs and budget.

Cheapest MBA Programs in Canada: Overview 

Why Study MBA in Canada?

High-Quality Education: Canadian universities offer world-class MBA programs that are designed to equip students with the latest business theories, practical skills, and leadership abilities. Many of these universities are ranked among the best in the world. 

Global Connections: Studying for an MBA in Canada can provide students with access to a vast network of business leaders and opportunities for international internships and job placements. 

Career Opportunities: An MBA from a Canadian university can open doors to a wide range of career opportunities. A Canadian degree is highly valued by employers and can lead to significant advancements in one’s career.

Low Cost of Living: Canada has a relatively low cost of living compared to countries such as the UK and the US, which can help to reduce the overall expenses associated with studying for an MBA. According to Numbeo, the cost of living index in Toronto, Canada is 73.69 (compared to 100 in New york city, 76.8 in London, and 86.05 in Sydney) making it an affordable place to live and study. 

Cost of Studying an MBA in Canada 

An MBA degree is one of the most sought-after courses these days and costs significantly more than other courses. This is mainly due to the higher returns on investment and ample job opportunities that an MBA degree provides. The cost of pursuing an MBA in Canada can vary greatly depending on the institution and the type of program you choose. 

On average, an MBA program in Canada can cost anywhere between 30,000 CAD to CAD 90,000, with many prestigious universities charging north of 100,000 CAD for the program. This includes tuition fees, textbooks, and other course materials. Additionally, living expenses such as accommodation, food, and transportation can add significantly to the overall cost of studying. Some schools also require students to pay for mandatory fees, such as student activity fees, which can add a few hundred dollars to the total cost. 

It’s important to consider all of these expenses when budgeting for an MBA program in Canada and to thoroughly research the costs associated with the schools and programs you are considering. Thankfully there are many institutions that offer quite affordable MBAs in Canada. Plus, international students can also work part-time to cover their expenses while studying.  

Admission Requirements for Studying MBA in Canada

Admission requirements for the MBA program vary depending on the institution and the program type. However, some of the most common requirements for pursuing an MBA in Canada are listed below. 

• Bachelor’s degree with a minimum GPA of 2.5 out of 4 
• A GMAT score of a minimum of 550
• English proficiency certificate (IELTS – 6.5/ TOEFL iBT – 90)
• Academic transcripts
• Many universities require relevant work experience for a minimum of two years
• Statement of purpose 
• Letters of recommendation 

Cheapest MBA Programs in Canada 

Here are some of the cheapest universities offering MBA programs in Canada: 

University of Northern British Columbia 

The University of Northern British Columbia (UNBC) is a public university located in British Columbia, Canada. Founded in 1990, it has since grown to become one of the leading research universities in the country. UNBC is known for its commitment to affordability and accessibility for students, offering high-quality education at a lower cost than many other universities. UNBC offers a wide range of undergraduate and graduate programs in arts, business, education, science, and engineering. 

University of New Brunswick 

The University of New Brunswick is a public university located in Canada, with campuses in Fredericton and Saint John. Established in 1785 and is one of the oldest as well as cheapest universities in Canada. The University is well-regarded for its programs in business, engineering, science, and arts, and is consistently ranked as one of the top universities in Canada. The Faculty of Business at UNB offers a range of undergraduate and graduate programs, including a well-regarded MBA program. The MBA program is an intensive program, which is highly flexible as well, with options for full-time and part-time study.

Memorial University of Newfoundland 

Memorial University of Newfoundland is a public university located in Newfoundland and Labrador, Canada. It was established in 1925 and is known for its strong programs in areas such as business, engineering, and the sciences. In terms of cost, Memorial University of Newfoundland is considered to be one of the most affordable universities in Canada. Tuition fees for the MBA program at Memorial are relatively low compared to other universities in the country, making it an attractive option for students looking to pursue an MBA without breaking the bank.

Wilfred Laurier University 

Wilfred Laurier University is another affordable option for students aiming to pursue an affordable MBA program in Canada. Established in 1911, the university is known for its affordable and high-quality programs in the fields of Business, Mathematics, Social Sciences, and Humanities. The Lazardis school of economics and business offers business programs at the university and is well known for its comprehensive and intensive programs. 

Lake Head University 

Lake Head University is a public university located in Ontario, Canada. Founded in 1965, it is a relatively young university with well-known programs in Business, engineering, and social sciences. The MBA program at Lake Head University is highly competitive and offers an excellent low-cost option for students aiming to study MBA in Canada. The MBA program is known for its extensive focus on practical learning through internships and other such learning opportunities. 

Concordia University 

Concordia University offers one of the best low-cost MBA programs in Canada. Even though it is one of the youngest universities in the country (established in 1974), it has one of the highest enrollments in Canada, with more than 40,000 students admitted there. The university offers more than a hundred graduate programs in fields such as business, engineering, and journalism. Its MBA program is offered by the John Molson School of Business, which has been consistently ranked among the best schools in the country for almost half a century. 

Conclusion 

In conclusion, pursuing an MBA degree in Canada can be an excellent investment in one’s career and future. Some of the cheapest MBAs in Canada offer excellent value and are highly regarded for their quality and high return on investments. With a range of universities offering high-quality MBA programs, it is possible to find a program that fits one’s budget and needs. You can also browse our blogs on affordable MBA in Germany, MBA in Netherlands, and MBA in Ireland

It is important to note that cost is just one factor to consider when choosing an MBA program, students must also consider other vital factors such as the program’s curriculum, the university’s reputation, and their personal goals. At the end of the day, regardless of the program, an MBA degree from Canada can provide students with comprehensive education and prepare them for careers in a variety of fields. We at Gyanberry can make your admission process hassle-free, by guiding you from the course selection stage to post-admission procedures. For more information, book a free call.