Canada’s Most Expensive and Lowest Cost MBA Programs

Since obtaining my undergrad in Engineering about eight years ago, I’ve played around with the idea of going back to school for my Masters in Business Administration (MBA) with a concentration on finance. Although I don’t see the MBA designation advancing my career at the moment, I’m more interested in it for the sake of learning more about the business/finance world with the side benefit of personal growth.

Having said that, one of the largest factors when choosing an MBA program is the cost, especially if the tuition is not sponsored by an employer. It just so happened that a recent edition of Canadian Business listed the more popular MBA programs in Canada, their associated costs, and a list of strengths. I’m not surprised to see the local NL University to be among the lowest cost, but I was really surprised to see how high it can get to obtain an MBA from top schools.

Most Expensive MBA Programs in Canada

  1. Rotman (Toronto): $80,931 for 16 months
  2. Ivey (Western): $74,200 for 12 months
  3. Queens: $69,000 for 12 months
  4. Desautels (McGill): $65,000 for 16 months
  5. Schulich (York): $55,574 for 8-16 months

Most Expensive Executive MBA (EMBA) Programs in Canada

  1. Schulich (York): $110,000 for 15 months
  2. Queens-Cornell: $100,000 for 17 months
  3. Ivey (Western): $90,000 for 18 months
  4. Rotman (Toronto): $89,000 for 13 months
  5. Queens (national): $88,000 for 16 months

The Lowest Cost MBA Programs in Canada

  1. Laval: $4,032-$9,717 for 12-23 months
  2. Memorial: $4,398 for 12 – 16 months
  3. Sherbrooke: $4,600 for 16 months
  4. University of Quebec: $4,748-$10,283 for 12-48 months
  5. Royal Military College: $6,000 for 16-20 months

What are your thoughts on the more expensive programs out there?  Are they worth the money?

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FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.
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umair abdullah
8 years ago

apart laval and sherbrooke university,, are there any other universities in canada (could be outside quebec oo) that allow low costing MBA

Dave
8 years ago

A lot of interesting points here. Personally, I think there is a value in a good MBA. Worth the almost 100k in debt and 1-2 year off work? That depends on the person, their current situation, and where they hope to take their career.

youngandthrifty
9 years ago

I think that if your employer doesn’t pay for your MBA program, then I don’t think its worth it.

If it could be done part time while doing full time work, then that might be something to look into.

Would the tuition credits apply for the MBA program? (If so that would be a nice tax deduction!)

Personally if school didn’t give me more potential income, I wouldn’t have gone back! (Doing my masters now and it’s a pain with work on top of school- don’t know how people with families do it!)

Isabella
9 years ago

Earning an MBA is one of the best education and professional moves you can make. An MBA degree can make you more valuable to your current, future and potential employers. I will be starting my MBA course integrated with a CFA designation starting next fall.

illusion
9 years ago

Cost variation for Quebec university probably represent the variation for doing single or double diplomation with a french (as in france university)

Uncle El
9 years ago

I think thats a very big disparity in cost. One thing I would question is the credentials of the cheaper schools compared to the those of the expensive schools. Also whats the word on the street for graduates of both categories. How easy is it for the students of the cheaper schools to get employed? I really cant offer more advice because I live in the US. But here the more expensive school graduate get jobs quicker than most other schools.

Nicolas
9 years ago

I take it that the costs for Quebec University represent the variation for Quebec, Canadian (Non-Quebec) and international students?

Richard
9 years ago

In my opinion, MBA programs are fairly eroded. If you want to really learn something, I’d begin looking past MBA programs – something which fringes more on the sciences. If you’re looking for a piece of paper to advance your career, pay and networking opportunities, a well established MBA brand may be a good investment. That said, there are likely some MBA programs which are still worth it for both – though I doubt they’re in Canada.

http://www.amazon.ca/Managers-Not-MBAs-Management-Development/dp/1576752755

Youthful Investor
9 years ago

I have read many times that MBA can be a waste of money if you are not compensated from the university or your employer and that often they like to mold you themselves into what they want, not the masters or doctorate degrees.

I am curious as to how the newest Macleans rankings might influence your opinions on the best MBA programs in Canada. What is the tradition outside of Canada for these programs? Growing up most of my life in the States I have often been told that many programs are a complete waste while others have suggested it does not matter if they are online or at a community college. The skills are essential. What are your thoughts on that?

Howard Hare
9 years ago

The major MBA source of students are Engineers who see this as making them more marketable.
I believe you should have at least five years of work experiance before you take this program, and an MBA is not a ticket to success, if you have no social skills your opportunities are limited.
MBA Grads have an attitude of entitlement, I would rather hire a B.Comm with drive and ambition than an MBA who thinks they deserve the position.
School reputation means little in Canada, in the US it is a big deal, Harvard Grads like to employ other Harvard Grads, just ask J.P Morgan.