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Canada vs US B-Schools

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Joined: 23 Jul 2014
Posts: 2
Canada vs US B-Schools  [#permalink]

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New post 24 Jul 2014, 01:37

I am very new to the GMAT/MBA world and have decided to enter into a 2 year Full Time MBA Program(Finance) in 2015. I am vying for top B-schools in USA and Canada. I want your guidance in B-School selection in the two countries.

Advantages with Canada(Rotman)

1. Loan available on Full Tuition Fees without a Canadian Co-signer (Important for me since neither can I can afford the humongous MBA Fees nor do I have a Canadian Co-signer)

2. 3 year Canadian Work Permit after graduation for international students (Again important since I would need to repay the Loan :)

Do we have any such school in USA which offers the two options mentioned above?

3. Rotman is considered to be in the top 10 for Finance.

Advantages with USA(Top 20 B Schools)

1. Better(high paying) jobs
2. Network with the brightest minds in the class and make connections with people from Wall Street.

Am I thinking on the right lines here? I am pretty sure many MBA Applicants would have faced similar questions in the early stages of their Application Process.

Thanks in advance :-D

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Joined: 14 Feb 2015
Posts: 450
Location: Canada
Concentration: General Management, Operations
GMAT 1: 740 Q50 V40
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Re: Canada vs US B-Schools  [#permalink]

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New post 06 Jul 2015, 11:22
Hey RG,

Something here to share from a Canadian's perspective.

Judging from the schools you have on your mind (Wharton '18, Booth PT '18, Sloan '18, CBS '18), you are most likely one of the more qualified applicants (GMAT 700+, GPA 3.5+), and that tells me you are likely going to get a nice scholarships from a good American school. Maybe Harvard will not give you 50k, but a full ride from the top 15~top 20 might be possible. Scholarships here in Canada are quite unimpressive. I only know of one school (Queen's) that offers a full scholarships while being a legit program. I applied to and got into McGill for this August and decided not to go for personal reasons, and the admission director told me I got one of the best scholarships - 40k, only 50% of the tuition. Also, getting into a good school significantly increases your chance of landing a high paying job.

Secondly, if you want to specialize in finance, by all means stay in the US. Wall Street is in the US, and strangely enough, lots of Canadians are over qualified in terms of certificate. Walking on Bay Street (Canadian Wall Street), 30% of the people probably already have received the CFA before they turned 30. If you want to stay in Canada and work after graduation, you will face a steeper competition in terms of certification. Pays are significantly lower here as well, and your network here will not be as helpful for you if you want to go back to the states and pursue a career there.

I think Canadian MBA's are great in quality, and are the best choices for people from other countries like China and India because they get 3 years work Visa's here that allow them to get jobs that pay them 120% higher salaries, but for an American this is not the case. Unemployment rate is a lot lower in the US now so chances are it will be easier for you to find a job south of the border and pay off the American student loans quicker than finding a job here in Canada and repaying the Canadian student loan.

The above was just my personal opinion, so make sure you take it with a grain of salt. I have been contemplating the same thing so I have done a bit of research, but it largely depends on your own situation. Hope that helps.

GMAT Club Bot
Re: Canada vs US B-Schools   [#permalink] 06 Jul 2015, 11:22
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