December 22, 2023

A Complete Guide to job opportunities and average income details after MBA in Canada for International Students

Canada offers some of the top-quality business education courses and has a plethora of promising jobs for postgraduate MBA students and professionals. It is the most popular choice for international students pursuing a Canada student visa to study abroad in the country. Canadian universities are some of the best universities in the world with their educational institutions ranking among the top global universities.

 A considerable amount of engineering, telecommunications, and aerospace discoveries are a result of Canada’s excellence when it comes to offering premium higher education.

What are some of the best industries for MBA students to pursue in Canada?

Canada offers a whole lot more than a scenic and comfortable life. Given below are some of the top-paying industries for MBA students to pursue: –

➮ Finance: –The finance sector is one of the most preferred industries to work in by MBA graduates.  This is because the financial services industry is one of the top-paying industries for MBA students in Canada.

The average salary of an individual working in the financial sector is around CAD 60,000 to CAD 140,000 approximately.

➮ Technology: – The technology sector is one of the fastest growing as well as the largest industry in Canada. The demand for MBA students in the field of technology has risen sharply since 2016.

Canada has around 71,000 technological firms that employ around 864,000 people. The average salary of an MBA degree holder working in the technology industry is around CAD 64,350 to 180,000 per year.

➮ Consulting: – The consulting industry accounts for about a quarter of all MBA graduates. It is one of the most preferred choices for MBA graduates after finance. The average salary for an MBA degree holder in this field is about CAD 55,000 to 150,000 per year.

What are the best Career Options for International MBA students in Canada?

➮ Financial Analysts: – Financial analysts are a key component of Canada’s growing business sector. It is the perfect option for candidates who are just starting.

It is one of the fastest ways to move into executive roles. The main role of a financial analyst is to provide critical financial-based data to a business, firm or government agency. The average salary ranges from CAD67000 to CAD 100,000 yearly depending on an individual’s experience as well as qualifications.

➮ Financial Manager: –  This career option is commonly preferred by MBA aspirants who have a specialization in finance.

The main role of a financial manager is to oversee as well as manage international finance, financial management, accounts, payrolls, and taxation. The average salary ranges from CAD 70,000 to CAD 85,000.

➮ Recruitment Specialist: – The job role of a recruitment specialist is the best option for individuals who would like to source and reach out to qualified candidates for current open roles across every department in an organization.

The main role of a recruitment specialist encompasses the maintenance of the employee lifecycle. Recruitment, joining, Sourcing as well as screening, onboarding and exit formality. The average annual salary ranges from CAD 44,000 to CAD 57,000.

➮ Marketing Analyst: – MBA graduates who have specialized in the area of marketing are a perfect match for this job role. The main role of a marketing analyst is to conduct market research as well as analysis for the organization that they are representing. Apart from that they also study consumer data and market data to track, and analyze risks and competition.

Formulation of campaigns, promotions and strategies is then done based on the data analysis. The average salary of an MBA holder working as a marketing analyst can range yearly from CAD49000 to CAD82000.

 ➮ Marketing Manager: – As mentioned above the Canadian economy is not only massive but also strong. This is why MBA graduates who have specialized in Marketing are in such high demand.  Canada is a hub for new startups and businesses and to strengthen their marketing efforts businesses often hire Marketing managers. The knowledge and skills of a marketing manager are crucial for businesses to rapidly grow. The average salary of a marketing manager is around CAD 71,000 per year.

➮ Human Resource Manager and Director: – Human resource directors are responsible for the creation of organizational rules as well as regulations, strategies and policies of a company. Directors are also overseers of HR managers and the human resource team in general.

Experienced HR managers are quite often picked from a pool of MBA graduates. The main role of an HR manager is to provide direction as well as guidance to specialists during the completion of management tasks. The annual salary of HR managers can range from CAD 1,00,000 to CAD 145,000 whereas the annual salary of human resource directors can range from CAD 139000 to CAD 181000.

➮ Business Consultant: – Business consultants are an essential part of a business’s workforce due to several reasons, Firstly they help businesses organize as well execute their business projects according to their requirements. Moreover, their job role includes meeting with clients and assessing problems and collecting data via interviews, surveys as well as reports.

The annual salaries of business consultants can vary depending on several factors such as location, skill and experience. Quite a lot of difference can be seen in the salary of business consultants based on areas where urban cities can offer better payment than others. However, the average annual salary of a business consultant with 3 to 5 years of experience is about CAD 93,000.

➮ IT Consultant: – The role of an IT consultant is to provide expertise in analysis, and recommendations based on client types and their opinion on how to optimally grow a business and boost performance. 

To become an IT Consultant, you would need to obtain the following qualifications as per employment requirements:

  • A bachelor’s degree in Computer Science, Business Administration, Computer Systems Engineering, Software Engineering, or a related discipline. Alternatively, completion of a college program in Computer Science.
  • Experience as a Computer Programmer.
  • A professional certification such as Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), or another related information technology (IT) designation. 

The average annual salary of an IT consultant in Canada is as mentioned above, that is, CAD 64,350 to 140,000 per year.

What are some of the best specializations for an MBA to pursue in Canada?

Canadian universities offer more than 50 specialized MBA courses. This is why MBA students quite often prefer to study in Canada than other countries. Students should choose their specialization based on the job market, opportunities offered and salary packages. 

Given below are specialized MBA Skills that employers commonly hire MBA candidates for in Canada:

  • Strategic Planning

MBA in Strategic Planning can offer preparation for a management career that involves corporate strategy implementation and strategic decision-making.

  • Marketing

This course is widely preferred by students to study the ways of business development, selling, generation of revenue, generation of leads, customer service, market research and marketing techniques and strategies.

  • Finance

MBA in finance is perhaps one of the most popular choices for students to pursue. This management course focuses on spheres like banking, and insurance accounting, money markets, financial management, capital, and international finance.

  • Business Development and Sales

The MBA program in Business Development and Sales offers students to build their negotiation and decision-making skills, including knowledge of data analytics.

  • Consultant

MBA in Consultancy is a program designed to train students to develop business problem solving abilities. This also includes developing skills in communication, analytical thinking for business situations and issues, and corporate strategy skills.

  • General Management

This MBA program can offer students comprehensive insight into the main elements of business that includes finance, accounting, management, and marketing. 

  • IT / Technology

This specialized course revolves around technical aspects such as machine learning and artificial intelligence. Students can train to combine the knowledge of business and information systems and develop skills in modern concepts of information security, project management, and telecommunications.

  • Operations / Manufacturing

This MBA course focuses on areas that include improving turnaround time, improving the quality of products, and improving productivity to offer the best value to the customers.

  • Supply Chain / Logistics

This program focuses on planning the flow and storage of goods which also includes procedures like controlling the flow of goods and storage of goods.

  • E-commerce

A degree in E-Commerce Management trains students to graduate with the necessary skills needed for managing an online business. 

What are some tips that graduates should consider while choosing a job after an MBA in Canada?

o   Graduates should ensure to build a good network as well as relationships with people in the industry they want to work in.

o   It is extremely essential for graduates to create a good cover letter and resume. The cover letter should thoroughly explain why they are suitable for the job role or position and how their MBA qualifications and specialization can help them achieve goals at a faster pace. Their resumes should be focused on their skills as well as their experience.

o   Graduates can benefit immensely if they carry out research on the company or organization they want to work for.

In case you are looking for recommendations on which college to apply to or require help with your Canada student visa requirements make sure to choose the services of an educational consultancy.

  • Is there scope for MBA in Canada?

Yes, there is significant scope for pursuing an MBA in Canada. Canada is becoming an increasingly popular destination for MBA aspirants due to its high-quality education system, multicultural environment, and excellent job prospects.

  • How long can an international student work in Canada after completing an MBA?

International students who complete an MBA in Canada may be eligible to apply for a Post-Graduation Work Permit (PGWP), which allows them to work in Canada for up to three years after graduation. The length of the work permit is determined by the length of the student’s study program, with a minimum duration of eight months and a maximum of three years.

  • Which MBA program is a better choice to pursue for studying in Canada?

Canada has several top-ranked business schools that offer MBA programs. You may pursue some of the top MBA programs in Canada like Rotman School of Management, Smith School of Business, Ivey Business School, Desautels Faculty of Management, or Schulich School of Business.

  • Which MBA field has the highest salary in Canada?

The average salary for an international student after completing an MBA in Canada depends on the university and study program selected. For instance, after completing studies at the University of Toronto, a student pursuing a job in Canada for an MBA may earn CAD 60,000 to 140,000 per year. Similarly, at the Brookfield Institute for Innovation and Entrepreneurship, the average salary may amount to CAD 64,350 per year to 180,000 per year. On average, according to QS Top MBA Reports, MBA Graduates as Consultants can earn from CAD 55,000 per year to 150,000 per year.