Highest Paid Starting Salaries for Toronto MBA Grads
Earning an MBA in Toronto can be a practical decision for a myriad of reasons. Forbes named Canada the best country for business in the G20, with Toronto as its formal financial and business capital. It stands to reason Toronto may be one of the strongest areas for business not just in North American, but around the world as well. Its advantageous position close to the U.S. border makes the city a hotbed of international commerce, and as the fourth largest city on the continent, Toronto provides a wealth of opportunities for motivated professionals.
As though these reasons weren’t incentive enough to pursue higher education in Toronto, the city has the second highest quality of life in North America, according to the Mercer Quality of Living Survey. The city’s vital university system is full of talented and aspiring industry leaders ready to launch their own careers, readily taking advantage of everything the city has to offer.
For those of you planning to pursue your MBA in this cultural and fiscal epicenter, we’ve laid out which school grads have the highest starting salaries in the city.
The Highest Paid Toronto MBA Salaries
Ivey Business School—Western Canada University
Graduates from Ivey Business School will not be disappointed with the opportunities made possible by their degree. In 2016, 90 percent of graduating MBA students looking for jobs had received an offer by September and, by December, an impressive 96 percent of students were fielding offers. The average starting salary for grads in 2016 was $104,007 ($84,098 USD). The base salaries ranged from $40,000 to $192,000 ($32,344 to $155,255 USD), with the higher end of this range going to students who pursued consulting jobs. Since this program is just one year long, the high average starting salaries for students indicate a considerable return on investment, in terms of both money and time. Bloomberg BusinessWeek also ranked Ivey’s MBA as the best MBA program in Canada for the past three years.
YOU MIGHT ALSO LIKE: Toronto’s Best Nonprofit MBA Options
Rotman School of Management—University of Toronto
Those looking for an MBA education that will provide ample chance to earn a generous starting salary may be impressed with the possibilities open to Rotman School of Management grads. The average base salary for graduates in 2016 was $92,524 ($74,819 USD). The 2016 class had an employment rate of 80 percent within three months of graduation and an 85 percent employment rate after six months. The range of starting salaries for the class of 2016 went as high as $214,737 ($173,486 USD) in the legal services industry. Moreover, the Financial Times has named Rotman the best business school in Canada every year for over a decade.
Schulich School of Business—York University
An average starting salary of $91,860 ($74,282 USD) for the class of 2016 makes a Schulich School of Business an ideal place for motivated students to jump-start their careers. With 89 percent of MBAs from the class of 2016 hired within three months of graduation, Schulich grads clearly have a competitive edge in the business community. Schulich’s program is also renowned for its flexibility. Students can switch seamlessly between part-time and full-time enrollment, and can choose to accelerate their program for the opportunity to earn their degree in just eight months.
Toronto’s Best Nonprofit MBA Options
It’s fair to say that the finance and consulting industries are the most popular for business school grads. But what about non-profits and social enterprises—where do they rank? While some assume that an MBA and working for a nonprofit do not go hand-in-hand, that’s not the case. Continue reading…
Earning an MBA in Toronto Without the Full-Time Commitment
Despite the substantial benefits of earning an MBA, for many professionals, the idea of taking an extended detour while they earn their degree may be impractical or even impossible. An accelerated MBA allows motivated students to bring their new knowledge and qualifications to the workforce more quickly. For those Toronto-bound aspiring business school students hoping to earn their degree in a manageable time frame, we’ve laid out the best accelerated MBA programs in Toronto.
Ivey Business School — Western University Canada
Western University Canada’s Ivey Business School boasts an affordable accelerated MBA program. This program is not for everyone, as it exclusive to Ivey grads who have gone through the Honors Business Administration (HBA) undergrad program. However, for recent HBA grads, the AMBA may be an attractive option. According to the school’s website, AMBA tuition is $53,000 for domestic students and $61,000 for international students. Not only do AMBA students earn their degrees faster, but their tuition is 60 percent of the cost of the standard full-time program. In addition to the considerable difference in cost, the AMBA can be completed in just eight months, as opposed to the full-time MBA, which takes one year to complete.
DeGroote School of Business — McMaster University
Students seeking their accelerated MBA from the DeGroote School of Business can commit to a part-time or full-time course load. Full-time AMBAs will earn their degrees in eight months, whereas those on the part-time track may take up to 20 months. Students entering this program must have a minimum of one year of work and continuous managerial or professional experience. For those who don’t meet this qualification, DeGroote makes exceptions for those with one year of internship or co-op experience. This program is limited to applicants from domestic undergraduate institutions. DeGroote’s MBA program is different from many other schools due to its emphasis on hands-on opportunities and work experience. The school achieves this focus through case studies and projects that involve real organizations and situations.
Schulich School of Business — York University
The Schulich School of Business accelerated MBA allows students to skip many of the first year for classes, and essentially dive right into the second year MBA curriculum. Students on this track can complete their degrees in half the time it takes to complete the full-time program, significantly cutting costs. To receive all of the program’s benefits, students must have received a business degree from a Canadian institution within the last ten years, or hold a CPA, CA classification in Ontario. Those who have earned their degrees outside of Canada, and thus do not meet these qualifications, can apply for Advanced Standing Credits, which allows them to waive many of their core first year courses.
Lazaridis School of Business & Economics — Toronto Campus
The Lazaridis School of Business & Economics offers an accelerated Alternate Weekend MBA option. This is an ideal program for those looking to acquire an MBA education while maintaining a full-time career. Those who excel in this track transition to the comprehensive elective stage of the MBA curriculum. This allows motivated students to quickly zero in on their particular interests and specialization. Lazaridis offers nine MBA specializations, including: Accounting, Financial Management, Innovation and Entrepreneurship, International Business Management, Marketing, Operations Management, Organizational Behavior and Human Resource Management, Strategic Management, and Supply Chain Management. The accelerated Alternate Weekend MBA program also gives students a break from June through August, so MBAs juggling their professional and academic obligations can focus solely on their career ambitions during this time.
Finding the Best Toronto Executive MBA Programs
An MBA offers immeasurable help if you’re trying to climb the oft-mentioned corporate ladder. But what about getting right to the top? Executive MBA programs are tailor-made for reaching that higher-than-high career point, but how do you know which one may be right for you? We’ve outlined some of the best Toronto Executive MBA programs to help.
The Best York Schulich School of Business Dual MBA Options
Getting a joint degree is a great opportunity, particularly for students who were already planning to pursue higher education in two fields. A dual degree streamlines the process and also saves students’ money and time. Obtaining a dual MBA gives grads the edge of having both business administration experience and extensive industry-specific training when they enter the workforce. This could be of huge benefit to future leaders with management aspirations within a specific field. For those who wish to pursue a dual MBA just half an hour from downtown Toronto, York University’s Schulich School of Business may be just the place. We’ve laid out the dual MBA options for Schulich students.
MBA/JD
Osgoode Hall Law School and Schulich School of Business team up to offer students an opportunity to earn a Master of Business Administration/Juris Doctor. According to U.S. News, getting a JD/MBA may have considerable rewards. The article states that 46 of the Fortune 500 CEOs hold JD degrees. Additionally, having an MBA and a JD affords professionals flexibility should they choose to switch careers. MBA training could also make new lawyers more likely to move up the ladder at their firm, due to leadership and analysis training.
Students with an interest in business law will be pleased by the comprehensive nature of Schulich’s program. This dual degree would shave a year off of the five years it generally takes to earn a JD and an MBA separately. Schulich boasts that this track provides students with the space and resources to, “… learn to manage complexity, ambiguity and change as you examine business and legal issues in a global environment.” B-schoolers who’ve pursued this degree at Schulich have gone on to prestigious careers at companies like Goldman, Sachs & Co. and Stikeman Elliott.
MBA/Financial Engineering
The MBA/Financial Engineering track is an opportunity to earn a concurrent Graduate Diploma in Financial Engineering. Students pursuing this program take courses at Schulich and York University’s Department of Mathematics and Statistics. The combination of an MBA and diploma in Financial Engineering will open doors to fields like derivatives trading and valuation and risk management in banks and investment firms. These degrees will also improve students’ odds of succeeding in financial analysis in brokerage houses, consulting firms and financial institutions. MBA/Financial Engineering students must complete the requirement for the Graduate Diploma within one term of finishing their MBA requirements.
MBA/MFA, MBA/MA
Schulich offers unique joint degrees in either Business Administration and Art. This track is an excellent opportunity for anyone aspiring toward a management career in the culture and arts sectors. Schulich has partnered with the School of the Arts, Media, Performance and Design (AMPD) Graduate Studies to create this noteworthy program, which takes full-time students three years to complete. The MBA/MFA includes education in Visual Arts, Theatre, Film and Dance, whereas the MBA/MA includes Art History, Dance, Music, Film and Theatre Studies. According to Schulich’s website, students with these joint degrees have gone on to achieve titles like Theatre Director, Corporate Communications Manager and VP of Strategy.
Schulich School of Business Opens New Building Spring 2018
In the spring of 2018, the Schulich School of Business at York University will expand its learning space with a state-of-the-art building on the northeast side of the current property. This building is the centerpiece of the Leading Change Campaign, which is a comprehensive fundraising and alumni engagement campaign set to take place over the next five years to expand Schulich’s reach. Continue reading…
