For international students, both the USA and Canada are top destinations for pursuing an MBA. Pursuing an MBA from abroad is a difficult choice to make for international students. MBA being an important degree in one’s life involves a significant amount of time and cost.

To choose which country best suits your choice, you need to understand the factors involved in selecting these destinations. The common parameters for comparison are on the basis of the following:

Cost of pursuing an MBA Quality of education
Program duration Job prospects

To get admission in MBA in USA, applicants will need a four-year bachelor's degree, TOEFL scores 90-110. Whereas, to secure admission in MBA in Canada most of the B-schools require 7.0 bands in IELTS and 100 in TOEFL iBT.

Apart from the above factors, the students also need to consider the eligibility criteria for pursuing an MBA in both these countries. In this article we will highlight the comparison factors between pursuing an MBA in USA and Canada.

Highlights

Parameter MBA in USA MBA in Canada
Duration Between 18 months to 24 months Between 12 months to 24 months
Average tuition fees 53,000 USD/year 33,000 USD/year
Cost of living USD 2500- 3000 per month USD 1500-2000 per month
Financial Support Scholarships, fellowship, loan, work-study Scholarships, fellowship, loan, work-study
Visa F-1 visa Study-permit
Average salary USD 110000-115000 USD 87,000-90,000
Top Specialisations Accounting, project management, business analytics, entrepreneurship, operations Finance, business analytics, supply chain management, health science
Exams accepted GMAT, GRE GMAT, GRE
English language proficiency tests IELTS, TOEFL, Pearson IELTS, TOEFL, CAEL, Pearson

Cost of MBA

Cost is an important factor in deciding the country to pursue an MBA. When it comes to cost, USA can be a costly option in comparison to Canada. The components of the cost and the price are given for both the countries below.

Cost USA (in INR) Canada (in INR)
Average tuition fee 40.04 lakhs 25.05 lakhs
Accommodation 8.99- 16.11 lakhs (annually) 3.4 lakhs- 6.74 lakhs
Meals 60,321 INR- 1,89,000 INR (monthly) 35,000 INR- 1,17,000 INR (monthly)
Transportation 9,703 INR (monthly pass) 5,337 INR (monthly pass)
Phone/Internet 3,700 INR -9,200 INR (monthly) 3,538 INR- 7,077 INR (monthly)
Personal Expenses 1.50 lakhs 90,000 INR

Top Universities in USA vs Top Universities in Canada

There are lots of top universities for MBA in both USA and Canada. For the USA there are many universities among the top 100 in QS world University rankings. There are about 46 universities for MBA in the top 100. For Canada, there are only 6 top universities among the top 100 in QS world university rankings.

Reasons to Pursue MBA in USA

USA is the top destination for international students who want to pursue an MBA degree. Many international students visit USA every year to pursue MBA. Here are some of the reasons to pursue an MBA in USA.

  • Top ranked Universities: USA has around 46 institutes among the top 100 MBA colleges in QS university rankings. Among the top 5 MBA universities, the top 4 belong to USA. This shows the quality of education provided by the MBA institutions in USA.
  • Quality of education: The MBA programs offered by USA universities give real world experiences to the students. They help the students in understanding the real-world business scenario and act accordingly. This helps the student to bridge the gap between university and job.
  • Employment opportunities: USA is home to many leading companies in the world like Apple inc., Google, Facebook etc. There are many job opportunities for MBA jobs in USA. All the universities in USA provide the students with suitable career opportunities and help them to land in a job after graduation
  • High salary: MBA graduates are offered high salaries in USA by top companies after their graduation. The average annual salary of an MBA graduate from an USA university ranges between 100,000 USD to 115,000 USD.

Reasons to Pursue MBA in Canada

Canada is the third largest popular destination for international students who want to pursue an MBA. Canada universities provide world class business education and also provide ample employment opportunities. Some of the reasons to pursue an MBA in Canada are given below:

  • Quality of Education: The business schools in Canada provide a curriculum that adds high value to the lives of the students. The students get real life exposure to the corporate world while studying at the university through internships. The environment of Canada universities is friendly and adds value to the career of the student.
  • Cost of MBA: MBA education in Canada is affordable and budget friendly in comparison to the MBA in USA. The universities provide low-cost education without compromising the quality of the education. The cost of living in Canada is lower in comparison to USA.
  • Immigration policy: The immigration policy of Canada provides somewhat relaxation in comparison to other countries. Students can apply for immigration in Canada and work there after completing their studies. Students can also apply for permanent residency.
  • Job opportunities: Canada is one of the largest employment providers to the students. Toronto, a city in Canada alone has produced the largest number of tech and management jobs in the past years.

ROI of MBA in USA vs ROI of MBA in Canada

Pursuing an MBA is a very costly affair. So, the students should also calculate the returns on their cost spent. This factor called ROI becomes important in deciding whether to pursue an opportunity or not. To calculate ROI, cost of the MBA program and the salary earned after graduating from the program are taken into account.

After pursuing an MBA from a Canadian university, the average salary can range from 87000 USD to 94000 USD. Among this amount, around 10000 USD is the bonus component and the rest is fixed. After pursuing MBA from USA universities, the students can expect a salary within the range 100,000 to 115,000. Among this amount, around 18,000 is bonus and the rest is fixed.

Country Tuition fees (USD) Fixed salary (USD/year) Bonus (USD) Total (USD)
USA 110,000 82000-97000 18000 100000-115000
Canada 70,000 77000-87000 10000 87000-97000

Jobs in USA After MBA vs Jobs in Canada After MBA

Both the countries USA and Canada, provide high employment opportunities to the MBA graduates. However, the average salary of MBA jobs in USA is slightly higher than the MBA jobs in Canada. Some of the roles offered in both the countries and their annual average salary are given below.

MBA in USA MBA in Canada
Job roles Annual salary (USD) Job roles Average Annual Salary (USD)
Project manager 86,448 Project Manager 66,828
Operations manager 81,595 Marketing Manager 59,116
Financial analyst 66,146 Management Consultant 67,624
Human resources manager 73,306 Financial analyst 48,320
Senior financial analyst 85,219 Senior Business analyst 67,366

Also Check: MBA jobs in Canada

Both the country, USA and Canada are top destinations for international students who want to pursue MBA. Both countries provide high quality education and have universities that are among top 100 universities in the world. While the cost of living USA can be a bit costly for the students, the cost of living Canada is less costly than USA. The average salary earned by an MBA graduate in the USA is also slightly higher than that earned in Canada.

Explore! Cost of Living in Canada vs USA