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University of Toronto MBA Fees: Costs and Scholarships

Cost, Financial Aid, ROI and more

Are you thinking about doing an MBA at the University of Toronto? It's a big decision that involves a lot of time and money. Are you wondering about the University of Toronto MBA fees and other expenses?

This blog post will discuss all the costs of getting an MBA at the University of Toronto. We'll cover everything from tuition fees to living expenses. This includes scholarships, financial aid, part-time jobs, and their payoff. So, let's dive in and explore the costs together!

University of Toronto MBA MBA Fees: An Overview

The University of Toronto MBA Fee for the 2025 intake is CAD 136,410 (USD 100,066).

Studying for University of Toronto MBA Program is exciting but also daunting due to the costs. The University of Toronto's MBA fees are CAD 136,410 for the year-long program. Provided below is a bifurcated section for the fee structure for Canadian and International students. 

Criteria First Year Fee Second Year Fee Total
Canadian Student CAD 46,270  CAD 46,270  CAD 92,540 
International Student CAD 67,530  CAD 68,880  CAD 136,410 

Please refer Fees, FInances and Financial Options for detailed analysis of Rotman MBA Fees.

Understanding the Living Expenses in Canada 

Living Expenses

When pursuing an MBA degree at the University of Toronto, one of the most crucial aspects to consider is the living expenses, in addition to the University of Toronto MBA fees, which can be pretty high in Canada. It can vary depending on several factors, such as location, lifestyle, and personal preferences. As an MBA student, you should consider accommodation, food, transportation, and utilities expenses.

Expense Cost (per month) Cost (annual)
Tuition Fees  N/A CAD 136,410
Accommodation CAD 600 - 1200 CAD 8,000 - 14,000
Food CAD 360 - 450 CAD 4,000 - 5,500
Transportation CAD 80 - 150  CAD 1,300
Utility CAD 150 - 200  CAD 1,500-2,000

Whether planning your University of Toronto MBA Fees or choosing a university according to your profile, you can always consider consulting with an expert to attain the best possible plan for your goals.


How can you finance your University of Toronto MBA fees?

Finance

The Rotman School provides a range of scholarships to help outstanding students alleviate the burden of University of Toronto MBA fees, which can cost up to CAD 136,410. All admitted students are automatically considered for the scholarships, and some of the available options include:

Scholarships

1. Joseph L. Rotman Scholarship

This prestigious scholarship covers the full tuition fees for an MBA program and is the most significant and esteemed entrance scholarship offered annually to two exceptionally talented students. Named after Joseph L. Rotman, the lead benefactor of the Rotman School of Management, it recognizes outstanding academic achievement and leadership potential.

2. Entrance Awards

Every year, the Rotman School awards entrance scholarships, fellowships, and accolades to around one-third of our students. These are based on outstanding merit and usually vary from $10,000 to $90,000. There's no need for a separate application for these awards; you'll automatically be considered for them when your admission application is reviewed. 

3. Skoll/MBA Awards

Candidates who excel in their Skoll/MBA endeavours will be eligible for Entrance Awards valued between $10,000 and $30,000.

4. 30% Club Full-Time MBA Scholarship

As part of the Rotman School’s Initiative for Women in Business, Rotman provides a half-tuition scholarship to a new female student with notable academic and/or professional accomplishments. Additionally, the recipient of this scholarship will have the chance (non-transferable) to participate in the Athena Program or a similar Professional Development program offered by Rotman’s Initiative for Women in Business for up to 3 years following graduation.

There is no need for a separate application for this award; all female applicants will be automatically considered during the admission review process.

5. RACBC Scholarship

The Rotman African and Caribbean Business Club (RACBC) Scholarship, funded by Rotman alumni, the Rotman Community, and the Laidlaw Foundation, offers an award of up to $20,000 to an incoming black student enrolling in the Full-Time MBA program, recognizing exceptional academic achievement.

6. Black Student Leader Award

The Black Student Leader Award supports incoming black students with strong academic records, leadership qualities, and community involvement. This $25,000 scholarship is awarded to first-year Full-Time MBA students over 2 years (or 3 for dual degree students) based on merit, with some consideration for financial need.

For detailed analysis of Scholarships after Rotman MBA, please refer "Financing Your education."

Loans

Canadian citizens and permanent residents, classified as domestic students, have the opportunity to secure a loan from either the Bank of Montreal (BMO) or the Royal Bank of Canada (RBC) with competitive interest rates and loan limits.

For international students holding study permits, accessing a loan from BMO or RBC is also feasible. However, they must provide a qualified Canadian resident co-signer, cash collateral, or standby letter of credit, particularly with BMO, to secure the loan.

ROI (Return on Investment)

ROI

The return on investment (ROI) after graduation is quite important to prospective Indian students who are weighing the Rotman MBA costs and the program. Getting this degree could indeed set you back a pretty penny, but the payoff could be enormous, in terms of salary and career opportunities.

Although the University of Toronto MBA fees are expensive, graduates are rewarded with competitive incomes. Graduates with this degree typically earn a yearly salary of over CAD 174,020.

Suppose Indian students want to make the most of the money they spend on the Rotman MBA and the program. In that case, they must commit themselves fully to their studies, build a strong network of professionals, and fully use the school's career resources.

Graduates of the Rotman MBA program who exhibit tenacity, resolve, and the right mindset for success can expect a substantial return on their investment, resulting in a quick settlement of financial aid like loans, offering a good ROI to pay off the University of Toronto MBA fees

Part-Time Jobs

Jobs

It is possible for international students to work part-time while enrolled in the Rotman MBA program in Canada. Foreign students studying in Canada are permitted to work a maximum of 20 hours per week during both the academic year and any breaks. To afford the University of Toronto MBA Fees, the following are some part-time employment that Indian students may want to consider:

Teaching and Research Assistantships:

Various teaching assistant roles are accessible via Rotman, as well as the commerce and finance departments across various campuses and colleges within the University of Toronto. Eligible applicants for these positions are students who have finished their first year of MBA. These opportunities are typically advertised before each term or academic year commences. Additionally, a limited quantity of research assistant positions are offered by specific faculty members, mainly during a student's second year.

It's important to note that these positions constitute employment rather than being part of a financial aid program. Teaching assistants will receive T4 tax forms in February.

Internship & Co-Op Employment:

Between 80% to 90% of full-time Rotman students successfully obtain paid employment during one of three work terms: Summer (April - August), Fall (September - December), or Winter/Spring (January - May) in our Flexible Internship Program. Salaries for internships and other work placements differ based on the function, location, and industry. On average, a Rotman student earns over $5,000 per month.

It is essential to balance part-time work with academic responsibilities and ensure that it does not affect one's academic performance. Students should seek guidance from the university's career services office for job opportunities and information on visa regulations.

Please refer Employment at Rotman for better data about Part time job opportunities.

Student Visa Work Hour Restrictions

The University of Toronto is among the top MBA colleges in Canada. It's important to consider the University of Toronto MBA fees, as working off-campus as an international student can be helpful. The VISA work hour restrictions can cause delays if you aren't prepared. To participate in the Rotman MBA program from an Indian university, prospective students must meet the following requirements: 

  • During the academic year, students can work up to 20 hours a week.
  • In the summer, students have the option of working full-time.
  • Students can work part-time, intern, or do work-study.
  • Students between the ages of 18 and 20 receive CAD 11.20 per hour, while those above 21 receive  CAD 14.34.

Part-time employment during full-time education is permitted in Canada for international students with the proper documentation and enrollment at a Designated Learning Institution (DLI). Following these rules is essential to avoiding trouble with Canadian immigration authorities.

In addition, international students must ensure that their work does not interfere with their studies.

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Conclusion

The University of Toronto MBA fees can be a significant investment. However, the potential benefits of career growth, networking opportunities, and personal development make it a worthwhile consideration for those seeking to advance in international business. To make an informed decision about pursuing this path, it is important to carefully evaluate the University of Toronto MBA Fees, living expenses, available scholarships, and potential return on investment.

Why should you choose Canada's leading MBA Program?

Canada's leading MBA program offers academic excellence, cultural diversity, and global opportunities. With top-notch faculty, diverse cohorts, and global perspectives, students gain a competitive edge. Graduates benefit from extensive career support and may qualify for a post-graduation work permit, enhancing their employability. Canada's high quality of life and welcoming environment further enrich the educational experience.

Is University of Toronto a good business school?

Yes, the University of Toronto's Rotman School of Management is widely recognized as one of the top business schools in Canada and globally. It offers a range of MBA programs, including full-time, part-time, and executive options, all known for their rigorous curriculum, world-class faculty, and emphasis on experiential learning. Rotman's strong reputation, innovative approach to business education, and connections to industry make it a highly respected institution for those seeking to pursue a career in business.

Where can I study MBA in Canada?

There are several prestigious institutions in Canada offering MBA programs. Some of the notable ones include the Rotman School of Management, University of Toronto; Richard Ivey School of Business, Western University and Schulich School of Business, York University. These are just a few examples, and there are many other reputable institutions offering MBA programs across Canada. Each program may have its own unique features, specializations, and strengths, so it's important to research and find the one that best aligns with your academic and career goals.

What is the average GPA for an MBA in Canada?

The average GPA for MBA programs in Canada can vary depending on the institution and the competitiveness of the program. Generally, most MBA programs in Canada look for candidates with a strong academic background, typically requiring a minimum GPA of around 3.0 on a 4.0 scale for admission. However, competitive programs may have higher GPA requirements, often ranging from 3.3 to 3.7 or even higher.

It's important to note that GPA is just one of the factors considered during the admissions process. Other factors such as work experience, GMAT or GRE scores, letters of recommendation, and personal statements also play a significant role in the admissions decision.

Know Your Author
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Rohit Rajaram
Study Abroad Expert
Rohit is a results-driven individual with a strong background in Education Mentorship, Program Management and Business Development. Holding a Master's degree in Management from ESCP Business School in Paris, Rohit combines academic excellence with extensive industry experience. Throughout his career, Rohit has consistently delivered exceptional results, driving sales, increasing turnover, and achieving targets. Known for his strategic acumen, Rohit formulates and executes successful business strategies, enhancing operational quality, customer satisfaction and key bottonline drivers. As the Co-Founder of MiM-Essay, a leading Early Career Degrees application consulting company, Rohit has successfully mentored over 10,000+ students, enabling them to secure admissions in top-ranked schools worldwide with significant scholarships. Under his leadership, the company has maintained high-quality service and exceptional client satisfaction rates. With expertise in analytics, product development and business excellence, Rohit has successfully driven the success of various initiatives. Committed to constant innovation, he is expanding the company's offerings by introducing digital and technology-powered products for comprehensive education solutions.
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