Canadian Business in its latest survey, has ranked Rotman School of Management, University of Toronto, on top in its rankings by reputation and HEC, Montreal as number one in terms of best value for money
The Canadian Business 2016 ranking of MBAs is based on a survey conducted by Roger’s Consumer Insights Team that polled nearly 1000 Canadians about 41 institutions that offers MBA programs in the country.
Rotman has “always been held in high regard on Bay Street, where many of its faculty established their careers”, it said. On the second spot is Queen’s School of Business followed by the Ivey Business School at Western University.
Incidentally, Rotman, at $95,100 also offers the most expensive MBA in Canada. It also boasts of a dean whose CV includes a stint as senior deputy governor at the Bank of Canada, being housed in a spanking new $92 million glass tower. While one of the respondents described it as a world renowned institution with international connections, another gave high marks to the professors, learning environment and knowledge acquired.
Canadian Business said that in previous years, the ranking methodology had put a strong emphasis on school reputation and the salary boost graduates see after completing their degrees (the survey results confirm these priorities: knowledge and learning, income improvement potential and prestige were identified by respondents as the three most critical factors in an MBA education).
This year, however, a substantial number of schools were not able to provide the salary data. So it was eliminated as a factor. The methodology still awards points for criteria that include program length and tuition costs (assuming lower is better), amount of work experience required and the quality of the classroom experience.
As to whether a school’s reputation actually mattered to aspiring students an overwhelming 87% of respondents felt that “having an MBA from a top branded program has great value.”
While the readers interested in applying for a program appreciated the listing, Canadian Business said the idea of ranking was not popular with all of the institutions. Six universities opted out of providing data for ranking purposes this year: Toronto, McGill, Western, British Columbia, Windsor and York.
Among the key findings of the survey were:
■ 38% percent of respondents believe that an MBA degree is maintaining its value; 36% say that the value of an MBA is steadily or rapidly increasing.
■ A little over one-third (34%) perceive Canadian MBA programs to be better than internationally available MBA programs. Another three in five (59%) feel that the programs are comparable.
■ MBA graduates say they have seen average income increases of 24% as a result of obtaining an MBA degree.
■ In terms of cost, graduates say that average tuition should be no more than $20,000.
While the readers interested in applying for a program appreciated the listing, Canadian Business said the idea of ranking was not popular with all of the institutions. Six universities opted out of providing data for ranking purposes this year: Toronto, McGill, Western, British Columbia, Windsor and York.
Some said compiling the exact data requested was challenging as well as a drain on resources; others disputed the weightings assigned to methodology. Several questioned whether it’s possible to do an apples-to-apples comparison of programs that vary in so many small but significant ways (for example, longer programs sometimes come with a valuable work placement that makes the extended time frame desirable).
Canadian Business also admits that the list doesn’t provide a full picture of the Canadian MBA landscape, nor does it factor in individual needs. It may, however, serve as a useful starting point for students seeking to make a choice from an ever-increasing array of options.
Canada’s Best MBAs 2016: The Top 10 by Reputation
1. Rotman School of Management, University of Toronto
Toronto, Ontario
Full-time Program Length: 20 Months
Full-time Program Cost: $95,100
First-year Rotman students take two core and two shorter terms, with an emphasis on developing understanding in all the functional areas of business. In their second year, MBA candidates can choose from 14 majors and more than 90 elective courses.
2. Queen’s School of Business, Queen’s University
Kingston, Ontario
Full-time Program Length: 12 Months
Full-time Program Cost: $77,000
The winner of Canadian Business’s 2014 ranking of MBAs, Queen’s offers a 12-month program focusing on business fundamentals. Specializations include consulting, entrepreneurship and innovation, and a relatively new option for students interested in the health care sector: health care management.
3. Ivey Business School, Western University
London, Ontario
Full-time Program Length: 12 Months
Full-time Program Cost: $82,000
Ivey’s case-based program of study draws on more than 300 actual business scenarios to help candidates acquire relevant skills. The 12-month program offers a solid grounding in fundamentals and emphasizes leadership abilities.
4. Schulich School of Business, York University
Toronto, Ontario
Full-time Program Length: 16 Months
Full-time Program Cost: $70,710
With overseas campuses in Beijing and Hyderabad, India, Schulich has the resources to back up its focus on international business. The school also emphasizes hands-on learning, requiring all students to take on the Schulich Strategy Field Study, a real-world consulting project.
5. HEC Montréal
Montreal, Quebec
Full-time Program Length: 13 Months
Full-time Program Cost: $7,500 (Quebec residents) $15,300 (out-of-province)
Revamped in 2014, the program now offers a theme-based teaching structure that focuses on topics such as communicating and leading and managing value creation. A mandatory five-week consulting project embeds teams of students in real companies (local and international).
6. Desautels Faculty of Management, McGill University
Montreal, Quebec
Full-time Program Length: 20 Months
Full-time Program Cost: $79,500
Real-world exposure is key to Desautels’ program, with all students taking part in a 10-day international study trip and completing an experiential component consisting of a paid internship, study-abroad experience or field practicum.
7. Sauder School of Business, University of British Columbia
Vancouver, British Columbia
Full-time Program Length: 16 Months
Full-time Program Cost: $43,883
Students at Sauder choose from among three distinct career tracks—Finance, Product & Service Management, and Innovation and Entrepreneurship—and pursue a course of study that develops the skills and knowledge relevant to the stream they’ve chosen. Students can also tap into a broader network of business institutiosn through Sauder’s membership in the Global Network for Advanced Management (GNAM), a program created by the Yale School of Management.
8. University of Alberta
Edmonton, Alberta
Full-time Program Length: 16–20 Months
Full-time Program Cost: $27,862
The University of Alberta offers a range of specializations, including natural resources, energy and the environment, sustainability, finance, innovation and entrepreneurship, international business, and public policy and management. A new focus of the program is leadership—recent additions to the course roster include women in leadership, and applied leadership.
9. Degroote School of Business, McMaster University
Burlington, Ontario
Full-time Program Length: 16 Months
Full-time Program Cost: $36,650
Students seeking practical work experience may want to consider McMaster for its co-op program, which features three four-month work terms that enable participants to gain on-the-job insights and expertise while studying. The standard full-time program also includes a work placement and offers several opportunities for specialization, including strategic marketing and health services management.
10. John Molson School of Business, Concordia University
Montreal, Quebec
Full-time Program Length: 16–24 Months
Full-time Program Cost: $7,000 (Quebec residents)
$16,000 (out-of-province)
John Molson prides itself on offering the oldest and largest international case competition for MBA students—this year marks its 35th anniversary. The competition gives students a chance to solve challenging real-world business problems, and the winning team receives $10,000.
Canada’s Best MBAs 2016: The Top 10 by Value
1. HEC Montréal
Montreal, Quebec
Full-time Program Length: 13 Months
Full-time Program Cost: $7,500 (Quebec residents) $15,300 (out-of-province)
Revamped in 2014, the program now offers a theme-based teaching structure that focuses on topics such as communicating and leading and managing value creation. A mandatory five-week consulting project embeds teams of students in real companies (local and international).
2. University of Ottawa
Ottawa, Ontario
Full-time Program Length: 12 Months
Full-time Program Cost: $25,116
At Telfer, MBA candidates can choose between an accelerated 12-month program and a more flexible 24-month version. Beyond acquiring general management skills, students can earn Bloomberg terminal, Lean Six Sigma and Project Management Professional certification, as well as the certified management consultant designation.
3. University of Alberta
Edmonton, Alberta
Full-time Program Length: 16–20 Months
Full-time Program Cost: $27,862
The University of Alberta offers a range of specializations, including natural resources, energy and the environment, sustainability, finance, innovation and entrepreneurship, international business, and public policy and management. A new focus of the program is leadership—recent additions to the course roster include women in leadership, and applied leadership.
4. Queen’s University
Kingston, Ontario
Full-time Program Length: 12 Months
Full-time Program Cost: $77,000
The winner of Canadian Business’s 2014 ranking of MBAs, Queen’s offers a 12-month program focusing on business fundamentals. Specializations include consulting, entrepreneurship and innovation, and a relatively new option for students interested in the health care sector: health care management.
5. Concordia University
Montreal, Quebec
Full-time Program Length: 16–24 Months
Full-time Program Cost: $7,000 (Quebec residents)
$16,000 (out-of-province)
John Molson prides itself on offering the oldest and largest international case competition for MBA students—this year marks its 35th anniversary. The competition gives students a chance to solve challenging real-world business problems, and the winning team receives $10,000.
6. Ryerson University
Toronto, Ontario
Full-time Program Length: 12–16 Months
Full-time Program Cost: $29,576
Students at the Ted Rogers School can choose between two primary streams: the MBA global program and an MBA in the management of technology and innovation (MBA MTI). The Integrative Semester, which completes both programs, allows participants to demonstrate their learning through a personal capstone project or four-month work placement.
7. University of Victoria
Victoria, British Columbia
Full-time Program Length: 17–21 Months
Full-time Program Cost: $34,945
Small class sizes that allow for personalized learning are a central element of Gustavson’s appeal, along with a program that the university describes as “international at heart”—global business content is worked into the curriculum and there’s a variety of international exchange possibilities. (Students can also earn a dual degree with partner institution EDHEC in France.) An entrepreneurship specialization offers aspiring startup founders a single-semester, experiential learning program.
8. Saint Mary’s University
Halifax, Nova Scotia
Full-time Program Length: 16 Months
Full-time Program Cost: $13,780 (Nova Scotia residents)
$16,340 (out-of-province)
Sobey has redesigned its MBA program to emphasize responsible leadership through an eight-month integrative course, and it employs active learning through what it calls “immersive” experiences focused on entrepreneurship, community and not-for-profit leadership, and an international class trip. (The program changes go into effect in September 2016.) Faculty and staff at Sobey also help students develop a plan for acquiring management skills and plotting their career paths.
9. University of Calgary
Calgary, Alberta
Full-time Program Length: 16–20 Months
Full-time Program Cost: $35,872
For students looking for opportunities in the energy sector, Haskayne may be a good fit. It offers a specialization in global energy management and sustainability, where students are put into five intensive residencies in key energy centres around the world over a period of 20 months to learn from top industry experts.
10. Memorial University
St. John’s, Newfoundland
Full-time Program Length: 12–24 Months
Full-time Program Cost: $4,400
Small class sizes at Memorial University allow MBA students to have plenty of interaction with faculty and receive personalized instruction. Full- and part-time options allow for flexibility, too.
Cover Image Courtesy Schulich
