Last Updated on August 30, 2024
In today’s world, for almost every student it is a dream to pursue higher studies from foreign countries out of which Canada is the most preferred one.
Canada has become one of the most in-demand destinations for students as along with a high-quality education, it also offers a welcoming environment and diverse culture which attracts students all over the world. Along with an amazing lifestyle, welcoming environment, diverse culture, etc, students pursuing their higher education in Canada also get amazing job opportunities as it is a country having an excellent job market. And if we talk particularly about pursuing an MBA in a university in Canada, then, if you are an MBA student at any of the universities of Canada, you can really get amazing packages after completing your MBA there. But for this, you should have appropriate knowledge of the factors that affect the average MBA salary in Canada and top universities offering the MBA course in Canada and various other related aspects.
The average MBA salary in Canada is quite high compared to a lot of other countries. However, the salary differs in different regions of the country given how geographically diverse it is. It varies depending upon a lot of factors such as the university from where you have done your MBA in Canada. There are some top-rated universities and if you pursue your masters from there you can get excellent packages. Similarly, an average MBA salary in Canada also depends upon the location and the company where you are working. In addition to this, MBA specialization plays a significant role in deciding an average MBA salary in Canada. In this article, you will get to know about the factors that affect an average MBA salary in Canada, some of the best MBA specialization courses after pursuing which you can get amazing packages, some of the top universities of Canada, and location-wise average MBA salary in Canada.
Average MBA salary in Canada 2024
Below are the locations where you can get a good amount of salary after an MBA:
Toronto, Ontario
It is basically the financial hub of Canada. It offers very high MBA salaries to both freshers and experienced. Here you will be getting an average MBA salary of around $90,000 – $115,000 CAD per year.
Calgary, Alberta
If you work in Calgary, also you can get paid high. The average salary offered to MBA students in Calgary is $85,000-$1,00,000 CAD per year.
Vancouver, British Columbia
Another location which is quite good for working and getting paid a high amount of salary is Vancouver where you can get around $85000-$105000 CAD per year.
Montreal, Quebec
Although the cost of living in Montreal is not really high still it offers a great MBA package that lies around $65000-$85000 CAD per year.
Ottawa, Ontario
In Ottawa also you can get a good amount of salary after being a student of MBA in any of the universities of Canada. An average MBA salary in Canada (Ottawa) is $70000-$90000 CAD per year.
An average MBA salary in Canada in 2024(according to specializations)
Below are some of the domains which can help you get a high salary in Canada:
MBA in Operations Management
Jobs
- Business operations associate
- Operations Analyst
- Chief operating officer
- Operations Manager
Salary
- 1,00,000- 1,15,000 CAD per year (around Rs. 67.5 lakhs)
MBA in Finance
Jobs
- Chief financial officer
- Financial analyst
- General manager
- Financial manager
Salary
- Approx $90000 CAD per year (around Rs. 55 lakhs)
MBA in International Business
Jobs
- General Manager
- Business development manager
- Project manager
- Business analyst
- Business Consultant
Salary
- $85000 CAD per year (around Rs. 52 lakhs)
MBA in Marketing
Jobs
- Chief marketing officer
- Marketing analyst
- Marketing Manager
- Marketing Executive
- Marketing development manager
Salary
- Around $90000 CAD per year (around 59 lakhs)
Benefits of pursuing MBA in Canada
Getting admitted to a Canadian university and pursuing an MBA degree there comes with its fair share of benefits. Some of the advantages that students can profit from are:
Excellent education
The first and foremost reason for pursuing an MBA degree from Canada is that the universities of Canada offer world-class education. In addition, most of these are part of the top universities all over the world.
Heterogeneous culture
Like India, Canada also has a heterogeneous culture which permits you to get the knowledge of different cultures and become cosmopolitan. This reason also makes it one of the most attractive destinations for Indian students. This cultural diversity offers a welcoming and inclusive environment to all international students.
Part-time opportunities
Canada provides all the students with various job opportunities of different types and different fields. Even while studying, you can find work and work part-time or full-time. With this, you can get your pocket money along with practical knowledge and skills.
Amazing lifestyle
Along with its diverse culture, and high-quality education, Canada is known for its safety and quality of life. It provides a safe ambience to all its residents. Students experience a great lifestyle there and it is a very comfortable destination for students.
Language diversity
In addition to a diverse culture, Canada also has language diversity. Besides the English and French languages, you can engage yourself in several courses having a lot of other languages as a medium of education. With this, you can get to learn a new language and add it to your CV. Subsequently, you can get enhanced job opportunities in future.
Financial assistance
Canada provides various scholarship opportunities to all international students which helps in the reduction of education costs.
This provides students with some financial assistance making Canada a more convenient and attractive destination.
Factors affecting the average MBA Salary in Canada
There are numerous factors responsible for determining an average MBA salary in Canada, which are as follows:
University
The first and foremost factor that decides an average MBA salary in Canada is the university from which you have done your MBA in Canada. Although all the universities of Canada offer a very high quality of education. Besides education, they also assist the students in the development of leadership qualities, problem-solving skills and many more. But there are a few universities that rank among the top universities of the world and if you are a student of one of those universities, you may get an above average MBA salary in Canada.
Experience
Another factor that is responsible for determining an average MBA salary in Canada is work experience. Each and every company gives preference to students who have got some practical knowledge and experience along with academic qualifications. If you have some work experience you will probably get a good salary after your MBA in Canada.
Course Specialization
Along with the work experience and university ranking, the specialization in which you have done your MBA also determines your salary in Canada. There are some industries and specializations that are quite high in demand and you can get paid well for them.
Work Location
An average MBA salary in Canada also depends upon the location of your work. Some of the locations such as Toronto and Vancouver offer very high pay as the cost of living in these cities is also a little high as compared to others. Thus, this factor should also be kept in mind.
Conclusion
So, this was all about the numerous benefits of becoming a part of a university in Canada and pursuing an MBA degree. With excellent academic credentials and the right internship experience, you can target a competitive MBA salary in Canada. Besides there are other factors that are responsible for the determination of an average MBA salary in Canada such as location, university, earlier experiences, etc. Now, you can easily get the best job for you in Canada after completing your MBA.
FAQs
Is there any specific age to do an MBA in Canada?
No, there is no age limit. Education in Canada is highly accessible and inclusive, thus allowing students from all walks to pursue an MBA at any given point in their lives.
Which MBA has the highest salary in Canada?
Some of the domains having the highest pay in Canada are Business Analytics, Information technology, Marketing, Economics and Finance.
Is an average MBA salary in Canada better than that of the USA?
No, the average MBA salary in the US is slightly better than that of Canada. This is because the United States is home to various lucrative industries like IT and Tech, Artificial Intelligence, etc., while Canada thrives on industries like natural resources.
What are the approximate fees for pursuing an MBA in Canada?
The approximate fee for pursuing an MBA is Canada around 25 lakhs per year. The actual cost depends on the university, location, and specialisation. Moreover, you can aim for university as well as government scholarships that will benefit you in terms of finances.
Which are the top universities in Canada for MBA?
Some of the top universities in Canada for MBA are the University of British Columbia, University of Toronto, McGill University, and University of Waterloo.
Gaurav Kandari is a seasoned study abroad consultant with over 5 years of experience, specializing in guiding students to the UK, USA, Canada, and Australia. An avid traveler, he draws on his global adventures to enrich his consulting, providing invaluable insights to aspiring scholars.
