Canada or USA? Which is Better for Pursuing MBA

MBA is one of the most popular postgraduate programmes opted for by students of India to get better exposure, explore more opportunities, drive their career path or become successful entrepreneurs.

While there are many top-ranked B-schools in India, many Indian students do not get the opportunity to enrol in them because of various factors including competition, lack of seats and a large number of students applying for admission. Having said that, getting an MBA from a business school abroad plays a greater role in expanding one's career horizons, getting attractive compensation, enhancing networking opportunities and acquiring more leadership skills and business management principles.

With the United States being home to almost 50% of top universities offering MBAs as per the QS Global MBA rankings 2021, the country is likely to be the first choice of every study abroad aspirant. Nevertheless, a number of Canadian universities can be found among the top 100 universities offering the best MBA programmes in the world. This article provides a comprehensive comparison between MBA in the US and MBA in Canada.

MBA in Canada VS MBA in the US

Following is the comparison between MBA in Canada and an MBA in the USA based on various parameters:

Reasons to Pursue an MBA from the US

Following are some good reasons to pursue an MBA from the US:

Highest-Ranked MBA Institutions

As mentioned in the beginning, the USA has the highest number of prestigious MBA colleges in the world. Stanford University has managed to retain its top spot in the 2020 edition of QS Global MBA Rankings. In fact, it is the country that introduced the MBA degree programme to the world. Pursuing an MBA from one of the elite MBA institutes of the US gives an edge over MBA graduates from other parts of the world.

Thriving Employment Opportunities

MBA is one of the most lucrative professional degree programmes offered in the US. The country offers ample employment opportunities to MBA graduates as the corporate giants are the largest employers in the country. The MBA graduates are hired by some of the top recruiters in the country including McKinsey & Company, Bain & Company, the Boston Consulting Group (BCG), Google and Microsoft. Almost all US universities offer 360-degree career assistance, making students industry-ready and connecting them with the leading recruiters hiring for hot jobs such as marketing manager, financial manager, business operations manager, database administrator and many more.

Quality Education

The US has world-class educational resources along with highly skilled and experienced faculty. Effective teaching, support and learning opportunities pave the way for students to excel at both academic and personal levels.

Students enrolled in MBA degree programmes at leading US universities discover the bridge to the real business world. The course helps them acquire advanced knowledge which further gives them an advantage in a competitive job market.

Popular Universities in the US to Pursue MBA

Check out the list of popular US universities offering MBA programmes:

Why Pursue an MBA in Canada?

Canada boasts of more than 3 lakh students from outside Canada and every year the number of students getting enrolled for admission in top courses like MBA keeps on increasing. Students get exposure to multiculturalism and later on, expect a high standard of living. Adding reasons to do MBA in Canada are given below:

The Standard of Education

The B-schools of Canada offer quality education along with an updated curriculum and exposure to innovative learning opportunities. The institutions provide a quality education and the courses are designed as per the requirements of industry and the business world. Although Canada offers less number of specialised degree programmes as compared to the US, it provides an excellent learning environment that contributes to the personal and professional growth of a student.

Unlike US universities, the popular B-Schools in Canada such as the University of Torontos Rotman School of Management, McGill University, and Ivey Business School, amongst others provide affordable education without compromising on world-class resources and infrastructure.

Job Opportunities

Toronto has created a huge number of management and tech-related jobs in the past five years. Almost every Canadian university works with a variety of industries to offer more and better work placement programmes. International graduates can obtain a Post-Graduate Work Permit (PGWP) after completing their MBA programme and work with any company of repute in Canada for up to three years. According to the World Bank Annual Report 2018, Canada stands in the second position among the easiest places in the world to start a business.

Immigration Options

After the completion of the course, an international student can apply for an immigration process and can avail of an option to work legally in the country. The immigration process in Canada is easier as compared to other countries and especially the US. If one wants to live in the country as a permanent resident after graduation, one can apply to an applicable immigration programme like the Canadian Experience Class.

Scholarships

Any university in Canada offers umpteen internal and external scholarship opportunities that international students can opt for. Such scholarships primarily depend on the merit of the student apart from other criteria such as prior work experience, academic excellence, leadership qualities, etc.

List of Top Universities in Canada to Pursue MBA

Check out the list of top Canadian universities offering MBA programmes:

ROI of an MBA in Canada vs ROI of an MBA in USA

ROI is one of the most important when deciding where to pursue an MBA - in the US or Canada. Return on investment is the financial ratio used to calculate the amount of return or benefit one will receive on a particular investment (in this case, an MBA), relative to the performance or efficiency of the investment.

After completing an MBA from a Canadian B-School, you can expect an overall average compensation of USD 94,300 a year with average bonuses of USD 11,300 and base salaries of around USD 83,000.

In the US, the margin is slightly higher with MBA graduates earning average bonuses of USD 18,800 and overall salaries averaging an impressive USD 120,900.

MBA in Canada VS MBA in USA: Jobs by Salary

To further give a better idea of the ROI of an MBA in Canada vs in the US, here are the top job positions along with their salary ranges offered by organisations in both countries: