Table of Contents
- Financial Considerations for the Schulich MBA Program
- Schulich School of Business MBA fees and Living Expenses in Canada
- Maximizing Opportunities with Scholarships for Schulich MBA Fees
- ROI: Maximizing Your Returns on Schulich MBA Fees
- Part-Time Jobs for International Students in Canada
- Student Visa Work Hour Restrictions
Key Takeaways:
- Schulich MBA tuition: $18,045 for domestic students, $30,933 for international students.
- International students pay about $12,888 more than domestic students.
- Scholarships available range from $3,700 to $22,400.
- Average starting salary for graduates: $69,600.
- Tips for managing costs: use work-study programs and apply for bursaries.
Considering the Schulich School of Business for your MBA journey? Understanding the financial investment is a crucial step in your decision-making process. The Schulich MBA, offered by York University in Toronto, Canada, is renowned for its global perspective and innovative curriculum. However, before you dive into this transformative educational experience, it's essential to have a clear picture of the costs involved. In this comprehensive guide, we break down the Schulich School of Business MBA fees, helping you plan your financial strategy and make an informed choice about your future in business leadership.
Financial Considerations for the Schulich MBA Program
Schulich School of Business MBA fees are a significant investment, and tuition is one of the biggest expenses. For the 2023- 2024 MBA intake, the tuition fee for international students is around USD 72,600. Schulich MBA fee includes academic fees, case materials, and administrative costs. However, the charge may vary depending on the program and the mode of study.
The average completion time for the full-time MBA program is four terms, equivalent to one semester or 12 weeks. The full-time accelerated MBA may be completed in two terms. The Schulich MBA fees below are based on the Fall 2023-2024 fee framework.
Schulich MBA Program fees are subject to change, and it is best to check the official website for the most up-to-date fee information. Moreover, students must consider additional expenses, such as living expenses and textbooks along with Schulich School of Business MBA fees, while planning their program.
| Student Status | Full-Time Tuition per Term | Part-Time Tuition per Term |
|---|---|---|
| International Students (Indian) | $30,933 | $12,366* |
| Estimated Program Total (International)** | $123,732 | $123,660 |
Schulich School of Business MBA fees and Living Expenses in Canada
Besides tuition fees, living expenses such as food, travel, and accommodation also add to the cost of pursuing an MBA from Schulich. These living expenses and tuition fees make up the overall Schulich School of Business MBA fees students must budget for.
| Commodities | On Campus | Off-Campus |
| Books/Course Materials | USD 750 | USD 750 |
| Rent | USD 4500-8000 | USD 5000 |
| PERSONAL EXPENSES | USD 1806-2179 | USD 2466- USD 2838 |
| LOCAL PUBLIC TRANSPORTATION | USD 392- 764 | USD 392-764 |
| HEALTH INSURANCE (UHIP for international students only) | USD 252 | USD 252 |
| GSA Health Plan | USD 125 -USD 190 | USD 125 -USD 190 |
| Meal Plan/Food | USD 1500- 3000 | USD 1600 |
| Approximate cost per term | USD 9390-USD15135 | USD 10,585- 11,394 |
Maximizing Opportunities with Scholarships for Schulich MBA Fees
Schulich School of Business is committed to making quality education accessible to all deserving students. To support this, the school offers scholarships to Schulich MBA students, reducing the burden of the Schulich MBA fees. These scholarships are based on various criteria and help students with financial needs, academic excellence, and diversity. Below are some of the popular scholarships offered by Schulich:
- Forté Fellowships: The Forté Fellowship was launched in 2001 to address the gender gap in MBA programs, where women comprised less than 28% of students.
Forté partner schools have awarded approximately $400 million in scholarships to over 17,000 Forté Fellows, significantly impacting women's representation in MBA programs and business leadership. - Ontario Graduate Scholarships: The Ontario Graduate Scholarship (OGS) Program is a merit-based scholarship available for graduate students at the master's and doctoral levels in Ontario. The province of Ontario and the participating schools jointly fund this scholarship, which awards range from $10,000 for two consecutive study terms to $15,000 for three consecutive study terms.
These scholarships cover a portion of the total cost of Schulich School of Business MBA fees and living expenses. Applicants must check each scholarship program's eligibility criteria and application deadlines.
ROI: Maximizing Your Returns on Schulich MBA Fees
Pursuing an MBA program from Schulich is an excellent investment in your career. According to the Financial Times MBA rankings 2023, the Schulich MBA program ranks 66th globally and is ranked among the top 20 in North America for salary increase. The average salary for Schulich MBA graduates is around CAD 100,000 annually, and graduates can expect a 58% salary increase after completing the program.
We must consider the total investment required and the post-MBA salary to calculate ROI for the Schulich MBA program. The total investment is CAD 100,000, including tuition fees, living expenses, and other associated costs.
Using the average post-MBA salary of CAD 100,000 annually and assuming two years for the MBA program, the total post-MBA compensation would be CAD 200,000. Therefore, the ROI for the Schulich MBA program can be calculated as follows:
ROI = (CAD 200,000 - CAD 100,000) / CAD 100,000 = 1 or 100%
This means that the Schulich MBA program return on investment is 100%, indicating that graduates can expect to earn twice the amount they invested in the program.
Schulich MBA Program Director Ashwin Joshi
Part-Time Jobs for International Students in Canada
In Canada, international students have the opportunity to engage in various part-time jobs to supplement their income and gain valuable work experience while studying. These jobs include freelancing, bookkeeping, sales assistant roles, customer service assistant positions, and teaching assistant or tutoring opportunities. Freelancers work independently on projects such as writing, design, or coding, while bookkeepers handle financial records. Sales assistants assist customers in retail settings, and customer service assistants provide support with inquiries and complaints. Teaching assistants support educators in classrooms or offer tutoring services. These roles offer students the chance to develop important skills and gain insight into Canadian work practices and culture.
| Part-Time Job | Average Salary | Description |
|---|---|---|
| Freelancer | $25/hour | Freelancers work independently on various projects, offering services such as writing, design, or coding. |
| Bookkeeper | $25/hour | Bookkeepers are responsible for maintaining financial records, including accounts payable and receivable. |
| Sales Assistant | $12.42 - $50/hour | Sales assistants help customers find products, answer questions, and process transactions in retail settings. |
| Customer Service Assistant | $11/hour | Customer service assistants assist customers with inquiries, complaints, and product information. |
| Teaching Assistant/Tutor | $15.65/hour | Teaching assistants support educators in classrooms or provide tutoring services in specific subjects. |
Student Visa Work Hour Restrictions
As international students, Indian students pursuing an MBA program in Canada may face some restrictions regarding part-time work. Due to the pandemic, Indian students are subject to work-hour conditions, which can impact their ability to offset the cost of living expenses, including Schulich School of Business MBA fees.
In this post, we'll explore the work-hour restrictions placed on Indian students in Canada and how they may affect their part-time job opportunities.
- Indian students studying in Canada are subject to work-hour restrictions due to the pandemic.
- They can only work up to 20 hours per week during their academic year.
- They can work full-time during scheduled breaks.
- The work-hour restrictions are expected to be lifted once the pandemic improves.
Related blogs:
- York Schulich MBA GMAT & Class Profile
- Schulich MBA Salary
- Schulich MBA Essays
- Is Schulich MBA Worth It? Analysis of Salary, Fees, and ROI
- Schulich MBA Interview Questions 2024
Conclusion
Pursuing an MBA program from Schulich (is the top MBA Colleges in Canada) is an excellent investment in your career. While the cost of education may seem daunting, the scholarships and ROI make it a viable option for students. Students can also work part-time to offset living expenses. Researching thoroughly and planning financially before applying is essential to ensure that the Schulich MBA program fits you.
