Are you currently researching MBA salary in Canada? After all, an MBA degree does not come cheap which is why a prospective salary after an MBA degree can determine your Return to Investment (ROI). Therefore, it is also important to select a university in Canada that produces graduates with good starting salaries.
It is a no-brainer that an MBA degree helps to solve more complex and sophisticated business problems involving algorithms and artificial intelligence. While it is true that studying MBA is a substantial investment, the salary statistics show a compelling and fruitful return.
Graduating from a top MBA school in Canada not only will guarantee a high salary but also give you a valuable work experience in the industry. Data from Emolument shows that Canadian MBA graduates earn an average salary of CAD 108,000 per year.
In this article, we will disclose the MBA salary in Canada in detail including the minimum MBA salary in Canada, the highest MBA salary in Canada, MBA finance salary in Canada, MBA HR salary in Canada and other most profitable job profiles that help you to count more dollars.
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Overview of MBA in Canada
Before we get into details about MBA salary in Canada, let us introduce you to the highlights of MBA in Canada:
Parameters |
Description |
Course Duration |
2 years |
Top MBA Schools in Canada |
University of Toronto, Ivey Business School, University of British Columbia |
Average MBA Tuition Fees in Canada |
CAD 50,000-100,000 |
Average MBA Salary in Canada |
CAD 108,000 |
Top MBA Graduate Recruiters |
EY, Meta, Accenture, Amazon, Deloitte |
Top MBA Roles |
Marketing Manager, Data Scientist, Finance Manager |
Best Specialisations for MBA in Canada
Nowadays, businesses know no borders. It requires business professionals to be up-to-date and have skills and knowledge highly regarded by employers. You need both hard and soft skills to produce results and work effectively with your colleagues. The top specialisations that help to earn a high MBA salary are:
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Human Resource- In this specialisation, you learn to understand and analyse the cultures of organisations, identities and people and communicate your ideas coherently and persuasively. You also learn to solve complex problems and take quick decisions.
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Finance- MBA in finance teaches you to analyze trends, build forecasts and create financial models. You will be also able to perform quantitative analysis of financial and operational data.
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Information Technology- Businesses now are tech-intensive. Therefore, an MBA degree will make you an IT specialist with courses covering software and hardware assessment, programming and algorithms.
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Healthcare- MBA in healthcare is a combination of business courses along with medical subjects like health policy, hospital management, etc.
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Risk Management- Here you get to predict and analyse the financial risks that may affect businesses. You learn to identify, develop and implement various procedures to minimise risks.
Average, Minimum and Highest MBA Salary in Canada
MBA support professionals with promotions and increased salaries. They also experience exponential career growth. The average salaries increase is documented through various studies. For example, the reports of Glassdoor estimate the MBA salary in Canada:
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The average MBA salary in Canada is CAD 66,000 per annum.
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Minimum salary of MBA in Canada is CAD 45,000 per year.
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Highest MBA salary in Canada is CAD 95,000 yearly.
The salaries include various compensations that companies pay to their employees. You can have a great start in your career with an MBA in Canada.
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MBA Salary in Canada According to Job Role
Tech companies prefer MBA graduates in Canada for most of their job openings.
There are various MBA job roles in Canada and their salaries differ depending on the company, department, and previous experience and course results. To give you a clear picture of which job designation offers what salary, we have put it in the tabular format:
Job Role |
Average Salary (in CAD) |
Management Consultant |
84,937 |
Financial Analyst |
68,030 |
Marketing Manager |
66,138 |
Financial Controller |
84,486 |
Corporate Development Manager |
69,597 |
Chief Financial Officer |
131,163 |
Marketing Manager |
66,138 |
Human Resource Manager |
76,435 |
Marketing Analyst |
71,009 |
Business Consultant |
93,215 |
Source: Indeed.com
Business Schools with Top MBA Salary in Canada
The business schools in Canada are known to foster leadership skills, build professional networks, help in promotions and open new doors for MBA graduates. These benefits along with high salaries can be availed of in the following MBA universities in Canada:
University |
Average Salary (in CAD) |
96,000 |
|
56,000 |
|
90,000 |
|
74,000 |
|
89,000 |
|
80,000 |
|
91,000 |
|
111,000 |
|
126,000 |
|
100,000 |
Source: Emolument
MBA Salary in Canada Vs Other Countries
Canada is one of the highest salary paying countries to MBA graduates. Some other countries that pay high MBA salary are:
Country |
Average Annual MBA Salary (in INR) |
USA |
91.67 lakhs |
Germany |
77.38 lakhs |
UK |
74.10 lakhs |
Australia |
63.75 lakhs |
Spain |
63.08 lakhs |
Ireland |
45.74 lakhs |
Singapore |
61.75 lakhs |
Source: Emolument
MBA Salary in Canada Vs India
The MBA graduates in India earn INR 15 to 20 lakhs which is very low in comparison to Canada. The salary increases with experience still it is not at par with Canadian standards. There are chances of better promotion and job upgradations in Canada.
So if you wish to earn a high package and make steady growth in the job market, you should decide to study MBA in Canada.
MBA ROI in Canada
An MBA in Canada is an investment in your future success. Therefore, it is important to calculate the return to investment (ROI) before taking the leap into studying at business schools in Canada. It is a major financial commitment toward the future.
Understanding the ROI is important to decide if MBA is the right option for you and the business schools and programs that are best suited to satisfy MBA ROI.
A study by QS universities noted that it takes less than four years to recoup the investment made in attaining an MBA in Canada. There is also an average 75% increase in the average annual salary of MBA graduates. York University records the highest 138% increase in salary uplift in 2019.
MBA Tuition Fees in Canada
As we already know the salaries received after MBA in Canada let us also know the tuition fees of MBA courses to get a better idea of the ROI:
Business School |
Average Tuition Fees (in CAD) |
University of British Columbia |
90,056 |
McGill University |
99,500 |
Ivey Business School |
123,500 |
Rotman School of Management |
127,929 |
Queens University |
153,173 |
Stay Back Period after MBA in Canada
The course duration of most MBA programmes in Canada is two years. It ensures that you get a three-year stay back period after completion of your degree. It also means you can work in Canada for at least three years to get returns on the financial investment you have made toward the MBA degree.
The ROI also increases if you are able to stay back for a longer amount of time as the salary structure is better in Canada than in India. Also, Canadas job market has the lowest unemployment rate and is importing labour to meet the shortages. Expertise in the business management field can help students to get high-paying jobs in Canada.
Hence this is the ideal time to pack bags for Canada to grab a degree in the pocket and a good salary amount in a bank account.
If you have any queries related to MBA salary in Canada or MBA degree in general, reach out to us at abroad@collegedekho.com.
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