Job Opportunities After MBA in Canada and The Salary That You Can Expect
Canada is not only about beautiful lakes, mountains, and numerous other tourist attractions. It is also one of the most coveted destinations for international students. Reports say that in2021, Canada issued a staggering 450,000 study permits.
And the largest number of them are from India. Over 217,000.
You are on this page right now. You can also add on to this count.
● Almost 34% of international students in Canada are from India (as per data from the Canadian bureau for international education).
● There has been a growth of almost 350% in the number of Indian students in Canada between 2015-16 and 2019-20, as per reports.
● MBA in Canada is among the most sought-after programs by international students
Universities in Canada – How Are They Ranked Globally?
Pretty impressively. As per the QS World University Rankings 2022, Canada boasts of some of the top universities in the world. Among the top 30 global universities, two are from Canada. They are the University of Toronto (ranked 26th) and McGill University (ranked 27th).
Some other notable names in the list are:
● The University of British Columbia – ranked 46
● The University of Alberta – ranked 126
● Western University – rank 170
● Queen’s University – rank 240
● York University – rank 494
Among the various higher education options in Canada, business education has become among the most sought-after ones. The prominent Canadian universities are constantly upgrading their business management program. This keeps the students at par with the latest trends in management education.
Why is MBA in Canada So Popular with Students from India?
● The cost of studying overseas is a major deciding factor for Indian students. The cost of an MBA program is also lesser than that in the US. While it is close to Rs. 11 lakhs/year in a Canadian university, it would be around Rs. 15 lakhs/year in its US counterpart.
● Canada has an immigrant-friendly policy. You would be having a Canadian student visa while you pursue your MBA there. You must apply for a Post Graduate Work Permit (PGWP). If you have pursued your MBA from a designated learning institute in Canada, you would be eligible to apply for the PGWP.
The PGWP allows you to stay and work in Canada for a period of 3 years after completing your MBA in Canada. Make the most of this opportunity. Search for jobs that are aligned to the skill sets that you have acquired. Also, check out options that match your career goals.
The experience that you would gain in these three years would stand you in good stead in your future career prospects – both within and outside Canada.
And there’s another aspect to the PGWP. It can culminate into a permanent residency! As we have already discussed, Canada pursues an immigrant-friendly policy. Get to know more about it by talking to a GradRight counselor today.
Chosen Locations and Sectors for Jobs After MBA in Canada for Indian Students
The job market in Canada is pretty big for Indian students. There are quite a few large organizations in Canada, including MNCs that offer lucrative job opportunities. But the majority of Canada’s organizations come under the SME (Small and Medium Enterprises) sector. Over a million SMEs dominate the Canadian industrial sector.
Don’t worry. SME doesn’t mean that you would work for a pittance. SMEs in Canada pay well. They also offer another advantage. You can learn various aspects of the industry while focusing on a specified job role. The scope for growth – both in terms of learning and career progress – is high in SMEs.
In fact, the SME sector creates over 150,000 jobs per year in Canada, on an average. And this number is set to grow in the post-pandemic economic turnaround scenario. So, there would be job opportunities galore in Canada for the deserving Indian MBA student.
Canada has a well-developed financial services sector. And Toronto is the hub of such services in Canada. More than 10,000 firms operate out of Toronto. And a majority of them are into financial services. So, finance specialization MBA jobs in Canada would primarily be centered in and around Toronto.
Montreal and Vancouver have also been attractive locations for jobs for international students in Canada. Though mainly service-based, there are many engineering firms here as well for students with an engineering and MBA combination. Information and Technology is another sector in Canada that has many jobs on offer for Indian students with an MBA in Canada.
Of late, British Columbia has also emerged as an attractive job location for international students in Canada.
MBA Jobs in Canada – Where to Find Them?
Internships are a part of almost every Canadian university MBA program. They usually last for a period of 1 to 6 months. Internships help the students to gain invaluable on-the-job, real-time experience.
Internships with organizations during the MBA program quite often result in jobs after MBA in Canada for Indian students. Reputed organizations that offer such internships are KPMG, Amazon, WESCO, and Fidelity – to name a few. During the internships, you can earn anything between 15 to 25 CAD per hour, depending on the nature of the job.
University placement services and career fairs are also effective options for landing that post-MBA job in Canada.
Online Job Portals
Willing to take the do-it-yourself route? Then the online job portals would work well for you. These portals update their job postings regularly. You would get a fairly comprehensive idea about the variety of jobs on offer.
Some notable job portals in Canada are:
● Robert Half
● Indeed Canada
Which Industries Are Top Draws for MBA Graduates in Canada?
Financial services, consulting, and information technology are among the most chosen sectors for MBA students in Canada. The jobs in these sectors are varied. The companies range from MNCs to SMEs. And the demand here for MBA graduates is constant.
The Salary That You Can Expect after an MBA in Canada
The salary levels for MBA graduates in Canada – much like anywhere else – varies depending on the job role and the extent of responsibility involved.
The IT sector can pay up to CAD 93,000 for MBA graduates. That translates to almost INR 56 lakhs per annum (1 CAD = approx. INR 60). Consulting jobs are also up there, with the median salary being close to CAD 90,000 (INR 54 lakhs). Jobs in the finance sector can pay anything between CAD 80,000 to 85,000 (INR 48 lakhs to 51 lakhs).
Salaries Vis-à-vis MBA Specialization
Does your specialization in MBA in Canada have a role to play in the salary that you can expect?
Yes, to an extent. While it does not make a heaven and hell difference, certain specializations do attract slightly higher packages after an MBA in Canada.
MBA in Marketing
Marketing specialization students are always in demand. These students would be devising sales and promotional strategies. They would also analyze customer behavior and help design the products accordingly.
The job opportunities after an MBA in Marketing in Canada is almost at par with the number of students completing their MBA in Marketing.
Some of the job roles and indicative salaries offered to MBA Marketing students:
CAD 85,000 – 150,000
CAD 70,000 – 80,000
CAD 90,000 – 100,000
CAD 85,000 – 90,000
MBA in Finance
This is the specialization that attracts the cream of the jobs in Canada. Canada has cemented its position as a major center for providing financial services. Corporate finance, investment consulting, and banking are the key verticals in Canada’s finance sector.
As an MBA Finance specialist, you would be working in the areas of investment banking, wealth management, corporate finance and treasury management, asset management, international finance, etc.
Some of the job roles and indicative salaries offered to MBA Finance students:
CAD 130,000 – 150,000 p.a.
CAD 60,000 – 70,000 p.a.
Approx. CAD 150,000 p.a.
MBA in Human Resources
An MBA in HR plays a key role in ensuring the right people are recruited for the right position. He/she also ensures suitable training programs for the development of new recruits as well as existing staff.
Some of the job roles and indicative salaries offered to MBA HR students:
Approx. CAD 70,000 p.a.
Approx. CAD 50,000 p.a.
Approx. CAD 60,000 p.a.
Besides these, popular specializations include Operations, International Business, Information Technology, Logistics and Supply Chain, Data Sciences, etc. Across these specializations, the average salary can be anything between CAD 60,000 to 130,000 p.a.
Universities that Attract High-Paying Jobs in Canada
The top Canadian universities attract the cream of talent to their campus as students. And the companies with the highest-paying jobs make a beeline for these universities. The snapshot below will explain this point.
Approx. Annual Salary (in CAD)
University of Toronto
To conclude, there are ample jobs after MBA in Canada for Indian students, provided you can prove your mettle. The packages range from decent to pretty good. The prospect of citizenship is also bright. And the people are warm and friendly.
All this makes for an unbeatable package, doesn’t it? So, get in touch with our team of expert counselors at GradRight today to know more. A consultation about the best study abroad options would never be more fruitful.