Canada may be a smaller market for MBAs compared to the US but offers similar profiles along with the advantage of allowing work visas that enable international students to stay on for three years and even seek permanent resident status.
As is the case almost everywhere, Consulting and Finance are the favourite choices for graduates. Major companies in these sectors do turn up for placements but their intake may be lesser considering the size of the market, Martina Valkovicova, Assistant Dean at UBC Saunder School of Business’s Careers Centre told TopMba.Com.
SMEs Dominate Market
Another factor that sets apart Canada is the presence of a large number of SMEs (small and medium enterprises). Almost 90% of its exporting companies have less than 100 employees.
Out of Canada’s 1.1 million SMEs, only 1.6% would be medium-sized business. More than half (55%) of the SMEs in Canada have less than four employees. In effect, it means that much lesser number of MBA graduates would be working with large companies.
Advantage, International Students
Due to Canada’s progressive immigration and employment regime, international students are able to get a work visa much easier than in other countries. This would be a contributing factor in attracting good talent to management institutes in the country, says Valkovicova.
International students will be able to get a work visa for up to three years after graduation and even become permanent residents. Erin Miller, careers director at the Rotman School of Management points out that being an international student is also not a barrier for employment in Canada.
With all of the Canadian MBA programs placing a big emphasis on career services, every MBA student gets their own coach. MBA internships also help international students find post-MBA work since many interns will ultimately be offered full-time positions.
Of course, the type of job they get also depends on the school. Students of Rotman, Saunder and Ivey are able to get jobs nearly at the same rate as their domestic classmates.
Jobs Change From Region to Region
Yet another aspect is that the nature of jobs changes from region to region. Toronto in Ontario province has the largest number of financial service companies at 12,000 employing around 350,000 people.
Thus, it is no wonder that almost 41% of the class of 2015 at Rotman’s found jobs in Toronto region. At Ivey, based in London, Ontario, 37% of the class chose the sector.
Vancouver and other cities in British Columbia have more number of SMEs.
While more candidates are interested in tech jobs, opportunities are dwindling in oil and gas sectors. MBAs also perceive Canada to be more conservative in comparison with the west coast of the United States where there is more of a start-up mentality.
However, recruiters have started emphasising on start-ups and innovation with companies starting to branch out from Canada’s tech hub Waterloo in Ontario to other cities like Toronto and Quebec.(Image Source:pixbay)