Cheapest MBA in Canada for International Students

Canada offers high-quality MBA programs, but tuition can be quite expensive, often ranging from CAD 30,000 to CAD 80,000 per year (₹17,00,000 - ₹45,00,000). 

However, there are some universities in Canada that offer affordable MBA programs, so you don’t have to pay a lot to earn your degree.

Why consider the cheapest MBA in Canada for international students?

• Canadian MBA programs are internationally recognized and respected, which helps you build a global career.
• With thousands of international students, Canada is known for its multicultural environment.
• Canada offers Post-Graduation Work Permits (PGWP), which allows international students to stay and work in the country after graduation.

This blog will walk you through the cheapest MBA in Canada for international students, covering tuition fees, available programs, and application details.

Read: Cost of Living in Canada

Best Cheapest MBA in Canada for International Students

If you're looking for affordable yet quality programs, Canada offers a range of universities with lower tuition fees for international students. 

Let’s explore some of the most affordable MBA programs perfect for students on a budget.

1. Memorial University of Newfoundland

Memorial University’s MBA program is one of the most affordable in Canada, attracting students from over 90 countries. The program focuses on practical learning, offering real-world business experience.

Duration: 1.5–2 years

Tuition Fees: ~CAD 4,800 per year (₹2.9 lakhs)

Popular Specializations: Finance, Entrepreneurship, Marketing

Admission Requirements:
Bachelor’s degree with a minimum B average (70% or higher).
GMAT may be waived for strong candidates.
IELTS 7.0+ or TOEFL 90+.

2. University of Saskatchewan (Edwards School of Business)

The Edwards MBA is ranked among the top 10 most affordable MBA programs in Canada and focuses on leadership development. More than 80% of graduates find jobs within six months of completing the program.

Duration: 1 year
Tuition Fees: ~CAD 8,000 per year (₹4.8 lakhs)
Popular Specializations: Business Analytics, Management, Finance
Admission Requirements:
Minimum 70% in undergraduate degree.
GMAT score of 500+ (waived for exceptional candidates).
IELTS 6.5+ or TOEFL 86+.

3. University of Regina (Levene Graduate School of Business)

The University of Regina offers one of the lowest tuition fees for MBAs in Canada and allows students to customize their degrees with specializations in international business, marketing, and analytics.

Duration: 1–2 years

Tuition Fees: ~CAD 10,000 per year (₹6 lakhs)

Popular Specializations: International Business, Marketing, Human Resources

Admission Requirements:
Bachelor’s degree with a minimum 70% GPA.
GMAT not required for candidates with strong academic records.
IELTS 6.5+ or TOEFL 85+.

4. Laval University

Laval University, located in Quebec, offers an affordable and high-quality MBA program with a focus on global business, entrepreneurship, and innovation. The program is designed to provide practical business knowledge with internship and research opportunities.

Duration: 1.5–2 years

Tuition Fees: ~CAD 14,000 per year (₹8.4 lakhs)

Popular Specializations: Business Intelligence, Project Management, International Business

Admission Requirements:
Bachelor’s degree with a B average (70% or higher).
GMAT not required but recommended for applicants with weaker academic backgrounds.
IELTS 6.5+ or TOEFL 86+.

5. University of Manitoba (Asper School of Business)

The Asper MBA is known for its high return on investment and strong job placement rates. The program integrates business research, case-based learning, and corporate projects, ensuring students are well-prepared for the job market.

Duration: 1.5–2 years

Tuition Fees: ~CAD 12,000 per year (₹7.2 lakhs)

Popular Specializations: Finance, Marketing, Supply Chain Management

Admission Requirements:
Bachelor’s degree with a minimum 70% GPA.
GMAT score may be required for international applicants.
IELTS 6.5+ or TOEFL 86+.

6. Concordia University (John Molson School of Business)

The John Molson MBA is ranked as one of the best value-for-money MBA programs in Canada. The curriculum combines practical learning, corporate exposure, and business simulations, making it highly career-focused.

Duration: 1.5–2 years

Tuition Fees: ~CAD 15,000 per year (₹9 lakhs)

Popular Specializations: Business Analytics, Strategy & Leadership, Marketing

Admission Requirements:
Bachelor’s degree with a minimum B+ average (75% or higher).
GMAT may be waived for students with strong academic and work backgrounds.
IELTS 7.0+ or TOEFL 90+.

7. University of Prince Edward Island (UPEI)

UPEI offers a cost-effective MBA with a focus on entrepreneurship, global business, and leadership development. The small class sizes provide a personalized learning experience with strong faculty mentorship.

Duration: 1.5–2 years

Tuition Fees: ~CAD 12,500 per year (₹7.5 lakhs)

Popular Specializations: Innovation & Entrepreneurship, Global Leadership, Finance

Admission Requirements:
Bachelor’s degree with a minimum B average (70% or higher).
GMAT score may be waived for applicants with relevant work experience.
IELTS 6.5+ or TOEFL 80+.

8. Carleton University (Sprott School of Business)

The Sprott MBA is known for its strong industry connections and hands-on learning approach. The program emphasizes real-world problem-solving, consulting projects, and leadership training.

Duration: 1–2 years

Tuition Fees: ~CAD 14,000 per year (₹8.4 lakhs)

Popular Specializations: Business Analytics, Finance, International Development

Admission Requirements:
Bachelor’s degree with a minimum B+ average (75% or higher).
GMAT may be required, but waivers are available for high-achieving students.
IELTS 6.5+ or TOEFL 86+.

Read: Student Visa for Canada

9. Thompson Rivers University (TRU)

TRU’s MBA program is affordable and flexible, catering to both fresh graduates and working professionals. The university offers small class sizes and a practical, case-based learning approach to develop real-world business skills.

Duration: 1–2 years

Tuition Fees: ~CAD 16,500 per year (₹9.9 lakhs)

Popular Specializations: Marketing, Business Analytics, Finance

Admission Requirements:
Bachelor’s degree with a minimum B average (70% or higher).
GMAT may be waived for students with strong academic performance.
IELTS 7.0+ or TOEFL 94+.

10. University of New Brunswick (UNB)

UNB’s MBA is one of Canada’s oldest and most respected business programs. It is known for its innovative curriculum, leadership training, and close ties to industries like finance and entrepreneurship.

Duration: 1–2 years

Tuition Fees: ~CAD 17,000 per year (₹10.2 lakhs)

Popular Specializations: Venture Commercialization, Business Development, Finance

Admission Requirements:

Bachelor’s degree with a minimum B average (70% or higher).
GMAT score may be required, but waivers are available for students with high academic scores.
IELTS 6.5+ or TOEFL 85+.

Cost of Living for MBA Students in Canada

Big cities like Toronto, Vancouver, and Montreal tend to be more expensive than smaller cities like Regina, St. John’s, or Saskatoon. 

Below is an estimate of monthly expenses for international students.

Estimated Monthly Living Costs for MBA Students

Expense	Average Cost (CAD/month)	Notes
Accommodation (Shared Rental)	700–1,500 (₹42,000–₹90,000)	Cheaper in smaller cities, higher in Toronto/Vancouver.
Food & Groceries	250–400 (₹15,000–₹24,000)	Cooking at home saves money.
Public Transport	100–150 (₹6,000–₹9,000)	Student transit passes offer discounts.
Health Insurance	75–150 (₹4,500–₹9,000)	Some provinces provide free health coverage.
Internet & Utilities	60–120 (₹3,600–₹7,200)	Included in rent in some student housing.
Other Expenses (Books, Phone, Entertainment, etc.)	100–300 (₹6,000–₹18,000)	Varies based on lifestyle.

City-Wise Cost Comparison for MBA Students

Expense Category	Toronto (CAD)	Vancouver (CAD)
Accommodation (Rent)	1,200 - 1,800 (₹72,000 - ₹1,08,000)	1,100 - 1,700 (₹66,000 - ₹1,02,000)
Food	300 - 500 (₹18,000 - ₹30,000)	300 - 500 (₹18,000 - ₹30,000)
Transportation (Public)	100 - 150 (₹6,000 - ₹9,000)	100 - 130 (₹6,000 - ₹7,800)
Health Insurance	50 - 100 (₹3,000 - ₹6,000)	50 - 100 (₹3,000 - ₹6,000)

How to Reduce Living Costs in Canada?

• Shared apartments or student residences are more affordable than private rentals.
• Many public transport services, restaurants, and stores offer student discounts.
• International students can work up to 20 hours per week to support expenses.
• Buy groceries in bulk at Walmart, Costco, or No Frills for lower prices.
• Monthly student passes make commuting cheaper than taxis or ride-shares.

Read: Average Salary in Canada

Scholarships for International Students Pursuing an MBA in Canada

Government Scholarships for MBA Students

• Vanier Canada Graduate Scholarship – CAD 50,000/year (₹30 lakhs), awarded for academic excellence.
• Ontario Graduate Scholarship (OGS) – CAD 15,000/year (₹9 lakhs), for graduate students in Ontario.
• Canada-ASEAN Scholarships – Financial support for students from ASEAN countries pursuing graduate studies.

University-Specific MBA Scholarships

• Rotman School of Management (University of Toronto): Merit-based scholarships up to CAD 90,000 (₹54 lakhs).
• Desautels Faculty of Management (McGill University): Entrance scholarships covering up to 75% of tuition.
• Sauder School of Business (UBC): Dean’s Scholarship – CAD 20,000–40,000 (₹12–₹24 lakhs).
• Schulich School of Business (York University): International Entrance Awards – CAD 25,000–50,000 (₹15–₹30 lakhs).

Merit-Based vs. Need-Based Scholarships

• Merit-Based Scholarships: Awarded for academic performance, leadership, and GMAT/GRE scores.
• Need-Based Scholarships: Consider financial background, extracurricular involvement, and personal achievements.

Can You Do an MBA in Canada Without GMAT?

Yes, several Canadian universities offer MBA programs without GMAT requirements, focusing instead on work experience, academic performance, and leadership potential. These universities assess applicants based on their bachelor’s degree GPA, professional background, and statement of purpose (SOP).

• Schulich School of Business (York University)
• Ivey Business School (Western University)
• Lakehead University (Thunder Bay & Orillia, Ontario)
• Thompson Rivers University (TRU)
• Vancouver Island University (VIU)

Alternative Admission Criteria for MBA Without GMAT

• Universities may require 2–5 years of professional experience as an alternative to GMAT.
• A high GPA (3.0 or above on a 4.0 scale) can compensate for the absence of GMAT.
• Demonstrated leadership through volunteering, startups, or professional achievements strengthens your application.
• A compelling SOP and strong LORs help justify why you should be admitted without GMAT.

Pros and Cons of an MBA Without GMAT

Pros	Cons
Saves time and effort on GMAT preparation.	Fewer MBA options available compared to GMAT-required programs.
More accessible for professionals with strong work experience.	Some top-ranked MBA programs still require GMAT.
Universities assess a more holistic profile, focusing on leadership and experience.	Limited scholarship opportunities without GMAT.

Post-MBA Career Opportunities in Canada

MBA graduates in Canada have access to high-paying jobs in industries like finance, consulting, technology, and healthcare. Employers actively seek MBA graduates for managerial and leadership roles.

Job Prospects After the Cheapest MBA in Canada for International Students

Popular Job Roles	Average Salary (CAD)	Salary in INR (₹)
Financial Analyst, Investment Banker, Risk Manager	80,000–120,000	₹48–₹72 lakhs
Business Consultant, Strategy Manager, Operations Analyst	90,000–130,000	₹54–₹78 lakhs
Product Manager, IT Director, Data Analyst	85,000–125,000	₹51–₹75 lakhs
Digital Marketing Manager, Brand Strategist, Sales Director	75,000–110,000	₹45–₹66 lakhs
Healthcare Administrator, Medical Consultant, Operations Manager	70,000–100,000	₹42–₹60 lakhs

MBA grads in Canada typically secure jobs within 3–6 months of graduation, especially in high-growth industries.

Some universities have placement rates above 90%, thanks to strong employer connections.

Salary Expectations for MBA Graduates in Canada

MBA Specialization	Average Salary (CAD/year)	Salary in INR (₹)
General Management	80,000–110,000	₹48–₹66 lakhs
Finance & Accounting	90,000–130,000	₹54–₹78 lakhs
Marketing & Sales	75,000–105,000	₹45–₹63 lakhs
Technology & IT	85,000–125,000	₹51–₹75 lakhs
Healthcare Management	70,000–100,000	₹42–₹60 lakhs

Post-Study Work Visa and PR Pathways in Canada

After completing the cheapest MBA in Canada for international students, graduates can stay and work under the Post-Graduation Work Permit (PGWP).

How to Apply for a PGWP?

• Eligibility: MBA graduates from designated learning institutions (DLIs) can apply.
• Duration: PGWP is valid for up to 3 years, depending on the program length.
• Application Process: Submit an application within 180 days of graduation.

How to Get Canadian PR After an MBA?

• MBA grads can apply under the Canadian Experience Class (CEC) with work experience.
• Provinces like Ontario, British Columbia, and Alberta have MBA-friendly immigration programs.
• Having 1 year of skilled work experience in Canada boosts PR chances.

Did you know? Canada’s immigration policies favor high-skilled professionals, making it easier for MBA graduates to secure PR than in other countries.

How upGrad Can Help You Study in Canada

upGrad Abroad willl guide you through everything – from finding the best courses to applying for your visa.

Top Fields to Study in Canada

Canada offers many programs across different fields. Here are some popular ones:

• Diploma Courses
• Project Management Courses
• Business Management Courses
• Management Courses
• Healthcare Management Courses

Scholarships and Financial Aid

There are plenty of Scholarships in Canada for Indian Students that can help reduce your tuition fees.

Language Exams & Test Prep

Most universities in Canada require you to take an English proficiency test like IELTS or TOEFL. We’ve got resources to help you prepare:

• IELTS Articles
• TOEFL Articles

Useful Tools for Students

Wondering about your expenses? Use our Expense Calculator and check how much you might spend on living and studying in Canada.

Learn More:

• Cost of Living in Canada
• Student Visa for Canada
• Average Salary in Canada

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