Well, according to U.S. News and Report’s 2019 Best Country list, Canada is one of the best places the world to study. It also ranked as the best place to live in North America, coming third worldwide.
Better yet, Canadian MBA programs are also remarkably affordable. While elite American MBAs may still lead in terms of recognition and reputation, Canada gives you more bang for your buck, particularly at the high end. Tuition is routinely half that of a comparable U.S. program, meaning fewer student loans.
Best of all, Canada wants you to stay! It’s easy to pursue permanent residency after you graduate, and the Canadian visa system is simpler and leaves less to chance than the one south of the border.
Oh, Canada: friendly, affordable and top ranked!
Let’s take a closer look at some key aspects of the Canadian education system:
Less Competitive Admissions (in Some Ways)
Take a look at the numbers. Average GMAT scores for Canadian MBA programs are LOWER across the board. Average TOEFL scores are slightly LOWER as well. Why is this the case? Canada is still building its reputation as a top-tier destination for foreign applicants seeking an MBA. That should be a relief for folks in the GMAT range between 660-710… but as the country becomes a more attractive option, expect competition to ramp up quickly. Graduates of Canadian institutions will benefit from the government’s efforts to build up the country’s academic reputation for years to come.
Financially Viable Options
U.S. MBA costs are rapidly rising, with top schools regularly charging $100K USD for a year’s worth of courses. This makes Canadian universities VERY competitive, with most costing half as much as their U.S counterparts… and that’s BEFORE considering the (mostly) favorable exchange rate compared to the U.S. dollar! For the budget conscious MBA applicant who doesn’t want to spend her post-graduation years paying off debt, this is a major selling point.
Political and Economic Stability
We won’t sugarcoat it: Whatever your politics may be, it’s hard to deny that the world is a messy place right now. That means all kinds of political and economic shocks that can have a big impact on exchange rates and how employers perceptive your degree. In this storm of change, Canada has proven to be a remarkably stable anchor, benefiting from geography, natural resources, and comparatively non-controversial presence on the world stage.
Welcoming Visa Policies
Canada is a welcoming country for students looking to make their mark in North America. Canada’s robust permanent residency program is open for business, and students have solid opportunities to live and work in Canada post-graduation. Unlike the U.S. green card lottery system, Canada’s immigration policies are mostly points-based, heavily favoring high-skill workers and graduates from Canadian universities. There are also steps potential Canadian immigrants can take to improve their chances (learning French, for example), and the process is much less dependent on employer sponsorship. The number of international students gaining permanent residency in 2017 was up 10 percent, and the government is actively targeting this group.
This was just a quick overview of reasons to consider an MBA in Canada. Stay tuned as we dig deeper into the differences between U.S. and Canadian MBA programs, and the top Canadian schools to consider.
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