Canada or USA? Which is Better for Pursuing MBA

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

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 MBA 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: 

Comparison Parameter	MBA in Canada	MBA in the US
Duration	Most of the full-time MBA programmes in Canada are of a duration of 2 years. However, there are some MBA programmes which maybe 18 months long	Full-time MBA programmes are of a duration of two years but many MBA programmes can also be completed in one year
Eligibility Criteria	A Bachelor’s degree in any discipline	A Bachelor’s degree in any discipline
Admission Process	Candidates must appear in GMAT and English Language Test (TOEFL, IELTS) and apply for admissions in the desired university on the basis of the scorecard.	Candidates must appear in GMAT and English Language Test (TOEFL, IELTS) and apply for admissions in the desired university on the basis of the scorecard.
Exams	GMAT, TOEFL, IELTS.	GMAT, TOEFL, IELTS.
Top MBA Specialisations	Finance, Entrepreneurship,  Supply Chain/Logistics,  Business Analytics	Accounting, Finance, Business Analytics, Entrepreneurship, Production/ Operations, Management, Supply Chain/Logistics, Project Management
Average Fees	USD 70,000 per year	USD 120,000 per year
Visa	Study Permit	F-1 Student Visa
Financial Support	Scholarships and Education loans	Financial support is provided to students through scholarship, education loans and fellowships.
Salary	USD 115,800 per annum	USD 94,300 per annum
Cost of Living	USD 1196 to 1595	USD 3,000 to USD 3,500

Also Read: Top Universities in the USA to Study MBA 

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, make students industry-ready and connect 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.

Also Read: Top Universities in Canada to Study MBA

Popular Universities in the US to Pursue MBA

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

University	Courses Offered	Duration	Annual Fee (in INR)
Stanford Graduate School of Business	MBA	21 months	51,80,096
Harvard Business School	MBA	21 months	52,06,896
California State University - Fresno Campus	MBA	-	15,40, 019
Saint Louis University	MBA	1 year	37,43,520
Suffolk University	MBA - Marketing	11 months	32,30,913
Suffolk University	MBA - Finance	11 months	33,47,898
Suffolk University	MBA	11 months	32,30,913
University of Tulsa	MBA	-	18,38, 792
University of Idaho	Executive MBA	22 months	29,77,800
University of Dayton	MBA	-	12,64, 005
Hofstra University	Executive MBA	20 months	40,70,227
Louisiana State University	MBA	22 months	21,48,412
University of South Florida	M.B.A MBA	18 months	13,81,061
Pace University	Financial Management, MBA	18 months	22,67,382
Florida Atlantic University	Executive MBA	23 months	15,34,914
University of Nebraska–Lincoln	MBA	-	23,08,291
George Mason University	MBA	23 months	29,78,084
Adelphi University	MBA Management with Specialization in Management Information Systems	-	22,29,096
Adelphi University	MBA Management with Specialization in Marketing	-	22,29,096
Adelphi University	MBA Management with Specialization in Finance	-	22,29,096
Adelphi University	MBA Management with Specialization in Accounting	-	22,29,096
Adelphi University	MBA Management with Specialization in Human Resource Management	-	22,29,096
Adelphi University	Global MBA	-	34,55,099

Also Read: Top 100 MBA Programs With GMAT/GRE Waiver in 2021

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 an exposure to multiculturalism and later on expect a high standard of living. Adding to reasons to choose Canada for an MBA 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 Toronto’s Rotman School of Management, McGill University, 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 at the second position among 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 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, they 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 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:

Name of the University/B-School	Duration	Tuition Fees
University of Toronto- Rotman School of Management	19 months	INR 27,00,000
Queen’s University- Stephen JR Smith School of Business	20 months	INR 24,18,130
Western University- Ivey Business School	12 months	NA
McGill University	20 months	INR 24,18,130
Schulich School of Business	16 months	INR 28,27,854
University of Alberta	20 months	INR 8,97,697
University of British Columbia	16 months	NA
HEC Montréal	12 months	INR 8,80,308 - 11,20,763
Sobey School of Business, Saint Mary's University	16 months	INR 14,43,705 - 31,51,720

ROI of an MBA in Canada vs ROI of an MBA in US

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 $94,300 a year with average bonuses of $11,300 and base salaries around $83,000.

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

MBA in Canada VS MBA in the US: 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 offer by organisations in both countries:

Hope this article helps you find the ideal US or Canadian B-school. Write to us at abroad@collegedekho.com to get further assistance in getting into the institution of your choice. 

Stay tuned!