Syed Yusuf Ashraf Study Abroad Content Specialist
Study Abroad Content Specialist
When planning to study MBA abroad, majority of international students are often stuck between the United States and Canada. Both countries are preferred by Indian students to study MBA abroad due high quality education, living standards, and extensive employment opportunities after graduation. A total of 122 US Business schools and 23 Canadian business schools are listed in QS Global MBA Rankings 2025.
- All the ranked MBA colleges in USA and Canada are listed among the top 300 business schools in the QS Global MBA Rankings 2025.
- 4 of the top MBA colleges in the world as per QS Global MBA Rankings are based in the United States.
- 41 of US colleges are ranked among the top 100 MBA Colleges in the world. Meanwhile, 5 MBA Colleges in Canada are ranked in the top 100 globally as QS Global MBA Rankings 2025.
Note: 1 USD = 84.82 INR as of December 13, 2024
1 CAD = 59.57 INR as of December 13, 2024
Also Read:
- Top 10 Colleges for MBA in Canada v/s MBA in USA
- Admission Requirements for MBA in Canada v/s MBA in USA
- Admissions Timeline for MBA in Canada v/s MBA in USA
- Cost of Living and Fees for MBA in Canada v/s MBA in USA
- Scholarships for MBA in Canada v/s MBA in USA
- Jobs and Salaries After MBA in Canada v/s MBA in USA
- FAQs
Top 10 Colleges for MBA in Canada v/s MBA in USA
Given below are the top 10 MBA Colleges in USA and Canada based on QS Global MBA Rankings 2025.
| QS Global MBA Rankings 2025 | Top MBA Colleges in USA | QS Global MBA Rankings 2025 | Top MBA Colleges |
|---|---|---|---|
| #1 | Stanford Graduate School of Business | #39 | Rotman School of Management (Toronto) |
| #2 | The Wharton School (UPenn) | #66 | Desautels Faculty of Management (McGill) |
| #3 | Harvard Business School | #76 | Ivey Business School (Western) |
| #4 | MIT Sloan School of Management | #91 | Smith School of Business (Queen's) |
| #8 | Columbia Business School | #101-110 | Sauder School of Business (UBC) |
| #=11 | Kellogg School of Management (Northwestern) | #101-110 | Schulich School of Business (York) |
| #13 | Haas School of Business (UC Berkeley) | #131-140 | Alberta School of Business (Alberta) |
| #14 | Anderson School of Management (UC Los Angeles) | #141-150 | John Molson School of Business (Concordia) |
| #15 | Chicago Booth School of Business | #151-200 | HEC Montreal (Montreal) |
| #16 | Yale School of Management | #151-200 | DeGroote School of Business (McMaster) |
Also Check:
Admission Requirements for MBA in Canada v/s MBA in USA
The admission requirement for MBA in USA and Canada is typically similar in most colleges. Most of the MBA colleges in both USA and Canada have set requirements for admissions. However, students who demonstrate strong academic background with high GPA, test scores and work experience are preferred for admissions in MBA.
Given below are the required documents and scores based recent MBA class profile across top colleges in USA as well as Canada:
| Category | Requirements for MBA in USA | Requirements for MBA in Canada |
|---|---|---|
| Application Fee | ₹16,961 - ₹23,322 | ₹5,948 - ₹11,303 |
| Academic Requirements | 3.3- 3.9 GPA or better | B+ (78-81%) or at least B (70-74%) Grade (70-81%) |
| English Language Requirements | TOEFL IBT: 87-109 | IELTS: 7.0-7.5 | IELTS: 7.0 | TOEFL IBT: 100 |
| GMAT/GRE Scores | GMAT: 600-780 | GRE: 146- 170 (Verbal) and 143-170 (Quant) | GMAT: 550-650 or higher | GRE: 315 or above |
| Documents Checklist | Academic Transcripts | 1-2 LORs | 2 Essays | Resume | Cover Letter | Academic Transcripts | 2-3 LORs | 2-3 Essays in 500 words | Statement of Intent | CV |
| Work Experience | 2 years | 2 years |
| Interview | By Invitation | By invitation |
Also Check:
Admissions Timeline for MBA in Canada v/s MBA in USA
The timeline for MBA in USA is typically similar in most colleges, with 3 application rounds annually. However, the exact dates may vary for each MBA college in USA. On the other hand, the application timeline for MBA in Canada varies with most of the colleges having 3 rounds while some have 4 or even 6 application rounds. Given below are general application timeline for MBA in USA and Canada:
| Category | Timeline for MBA in USA | Timeline for MBA in Canada |
|---|---|---|
| Round 1 Deadline | 2nd Week of September to Early October | September End - November End |
| Round 2 Deadline | Early January | Mid January - Early March |
| Round 3 Deadline | Early April | Mid February 19 - Mid March 15 |
| Round 4 Deadline | N.A | April End - June End |
Note: There is no 3rd Application Round for MBA at Harvard University
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Cost of Living and Fees for MBA in Canada v/s MBA in USA
The annual cost of living with an MBA in USA is higher than what you might pay while pursuing an MBA in Canada.
- To study an MBA in the USA, you must budget around ₹85.53 lakhs - ₹1.39 crores per annum.
- On the other hand, you need at least ₹27.86 lakhs - ₹1.06 crores to cover living expenses while studying MBA in Canada.
Given below is the breakdown of annual cost of living for MBA in USA vs MBA in Canada:
| Expenses | Annual Cost in USA (INR) | Annual Cost in Canada (INR) |
|---|---|---|
| Tuition Fees | ₹59.36 lakhs - ₹1.01 crores | ₹19.37 lakhs - ₹77.18 lakhs |
| Housing | ₹13.73 lakhs - ₹17.70 lakhs | ₹3.8 lakhs - ₹14.87 lakhs |
| Transportation | ₹1.52 lakhs - ₹3.42 lakhs | ₹46,639 - ₹90,899 |
| Personal Expenses | ₹2.66 lakhs -₹8.23 lakhs | ₹1.18 lakhs- ₹2.59 lakhs |
| Books and Supplies | ₹46,560 - ₹2.05 lakhs | ₹89,234 - ₹1.18 lakhs |
| Food | ₹5.19 - ₹6.18 lakhs | ₹1.78 lakhs - ₹8.62 lakhs |
| Health Insurance | ₹2.58 lakhs - ₹6.66 lakhs | ₹29,982 - ₹44,974 |
Also Check:
Scholarships for MBA in Canada v/s MBA in USA
The MBA Colleges in both USA and Canada offer several merit and need Scholarships for eligible students. Some of the popular MBA scholarships for international students in USA and Canada are as follows:
| Scholarship Name | Award | Scholarship Name | Award |
|---|---|---|---|
| Stanford Knight-Hennessy Scholars Program | Fellowships for up to 3 years + Living Stipend+ Academic Expense+ Travel Stipend for 1 trip annually | Forte MBA Fellowships at Rotman | Awarded to Female Students | CD$20,000 (₹11.89 lakhs) |
| Forte MBA Fellowships at Wharton | Awarded to Female Students | US$25,000 ( ₹21.23 lakhs) | McGill MBA Full-Time Scholarships (Adam Dinkes Leadership Award and (Alvin J. Walker Scholarship) | CD$10,000 (₹5.94 lakhs) |
| MIT Sloan Fellowships | Variable | Ivey MBA Scholarships (MBA Indigenous Entrance Scholarships and Rise Awards in Resilient Leadership for Indigenous Students) | CD$10,000 - CD$70,000 (₹5.94 lakhs - 41.64 lakhs) |
| Columbia Partial Tuition Fee Scholarships | US$10,000 - US$D30,000 (₹8.48 lakhs - 25.44 lakhs) | Smith School of Business General Entrance Scholarships at Smith | CD$10,000 - CD$70,000 (₹5.94 lakhs - 41.64 lakhs) |
| Kellogg Scholarships | Multiple Scholarships at Kellogg School of Management | Variable Amount | UBC Sauder MBA Scholarships | CD$1,500 - CD$60,000 (₹89,234 - 35.69 lakhs) |
Also Check:
Jobs and Salaries After MBA in Canada v/s MBA in USA
With MBA jobs in USA, one can expect to earn an average salary of ₹76.32 lakhs. Meanwhile, with those with MBA jobs in Canada typically earn average salary of ₹52.35 lakhs. Below is the comparison of annual salaries for MBA graduates on the basis of similar job roles in USA and Canada:
| Job Roles | Average Annual Salary (INR) | Average Annual Salary (INR) |
|---|---|---|
| Vice President | ₹1.74 crores | ₹91.99 lakhs |
| Chief Executive Officer (CEO) | ₹1.35 crores | ₹91.59 lakhs |
| President | ₹1.33 crores | ₹107 crores |
| Chief Operating Officer (COO) | ₹1.32 crores | ₹89.78 lakhs |
| Director of Operations | ₹1.01 crores | ₹70.33 lakhs |
| Financial Controller | ₹85.36 lakhs | ₹56.95 lakhs |
| Human Resources (HR) Manager | ₹61.24 lakhs | ₹46.23 lakhs |
| Financial Analyst | ₹60.30 lakhs | ₹37.76 lakhs |
Also Check: MBA Jobs in USA
In comparison to USA, Canada offers a more affordable cost of living and tuition fees for international students, making it a financially viable option. In terms of job opportunities, both countries present attractive prospects across various sectors. The roles and salaries might differ slightly, but both nations offer roles in project management, financial analysis, human resources, and consultancy, among others.
FAQs
Ques. Is MBA better in the USA or Canada?
Ans. Both USA and Canada are good options to study an MBA abroad for international students. However, you can make the final decision by comparing MBA in USA vs MBA in Canada based on factors such as cost of study and living expenses, college rankings, requirements, scholarships, and job opportunities.
Ques. Are there differences in immigration processes for international students pursuing an MBA in USA and Canada?
Ans. Both countries have specific visa regulations for international students. The U.S. offers Optional Practical Training (OPT) for international students after completing their studies, allowing them to work temporarily. Canada also offers post-graduation work permits.
| Factor | Canada | USA |
|---|---|---|
| Student Visa | Canada Study Permit | F1 Visa |
| Work Permit | Up to 3 years (PGWP), potentially leading to permanent residency | Shorter permit (1-3 years) |
Ques. Are there differences in the duration or structure of MBA programs between the two countries?
Ans. MBA programs in both countries last for about two years. However, some universities in Canada offer accelerated or part-time programs that may differ in duration. The curriculum and structure can vary widely depending on the institution and program.
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