Studying commerce in Canada has become an increasingly popular choice for students from around the world. With some of the world’s top-ranked business schools and an opportunity to gain Canadian work experience during your studies, Canada offers a high quality and globally recognized education in the fields of accounting, finance, marketing, human resources and more.
In this comprehensive guide, we outline the top 15 colleges and universities in Canada for commerce students based on factors like global rankings, programs offered, admissions requirements, tuition fees, scholarships and career prospects for graduates. Whether you’re looking to pursue an undergraduate business degree or a more specialized master’s program, read on to discover the best colleges for commerce education in Canada.
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1. Benefits of Studying Commerce in Canada
There are many advantages to pursuing a commerce degree in Canada as an international student:
- Globally recognized degrees: Canada is home to some of the world’s top business schools that offer highly respected and accredited commerce programs. Graduates can land management jobs worldwide.
- Co-op and internship opportunities: Many Canadian universities offer co-op programs that let you gain professional work experience while studying your degree. This helps boost your resume and job prospects after graduation.
- Chance to immigrate permanently: International graduates from Canadian universities and colleges have a great chance to stay in Canada permanently after completing their degree through express entry and provincial nominee programs.
- Multicultural society: Canada is an open, progressive, and multicultural country that welcomes international students. You will be able to make friends from across the globe and adjust seamlessly.
- Affordable tuition fees: The tuition fees for undergraduate and postgraduate commerce programs in Canada are more affordable compared to the UK, US and Australia after factoring living expenses.
- Research-focused learning: Canadian business schools encourage students to take part in research projects and case competitions to apply their learning. This develops analytical and problem-solving skills.
Clearly, Canada offers the full package when it comes to commerce education – from academic excellence to immigration prospects. Now let’s look at the top colleges for commerce programs in the country.
2. Top 15 Colleges for Commerce Programs in Canada
Here are the best universities and colleges for studying commerce in Canada based on global rankings, academic reputation, choice of programs, and student satisfaction.
1. University of Toronto
The University of Toronto is Canada’s top-ranked university for commerce education. Located in the vibrant city of Toronto, it is globally recognized for its business programs offered through the Rotman School of Management.
- QS World Ranking: 28
- Popular Programs: BCom, MBA, Masters in Management Analytics, PhD
- Admission Requirements: 83-86% in relevant diplomas, IELTS 7.0
- Tuition: International BCom – $59,260 per year
The Rotman School of Management is known for its challenging curriculum, research-based approach, and high job placement rates for graduates. Students also benefit from networking opportunities with 24,000+ alumni based worldwide.
2. University of British Columbia
The top-ranked university in western Canada, UBC is ranked 46th globally and is reputed for its business programs offered through the Sauder School of Business.
- QS Ranking: 46
- Programs Offered: BCom, MBA, MBA in Investment Management
- Admission Requirements: 85-90% in relevant diploma, IELTS 6.5
- Tuition: International BCom – $42,000 per year
Key highlights include a picturesque Vancouver campus, focus on sustainability, flexible dual degree options, and access to a network of over 36,000 alumni across 80 countries.
3. McGill University
McGill University is a top research university based in the vibrant city of Montreal. It offers prestigious business programs through the Desautels Faculty of Management.
- QS Ranking: 42
- Programs Offered: BCom, MBA, Masters, PhD, Executive MBA
- Admission Requirements: 90%+ in relevant diplomas, 105+ TOEFL
- Tuition: BCom – $23,000 per year
The faculty boasts an international student body with over 30,000 alumni. Students attend conferences, complete internships, and can specialize in areas like marketing, finance and analytics.
4. Western University
Located in London, Ontario, the Ivey Business School at Western University is the oldest business school in Canada. It offers highly respected undergraduate and graduate commerce programs.
- QS Ranking: 233
- Programs Offered: BMOS, MBA, Accelerated MBA, Executive MBA
- Admission Requirements: Low 90s in relevant diplomas, IELTS 7.0
- Tuition: BMOS – $27,600 per year
Ivey is known for its selective case-study based learning approach modeled after Harvard Business School. Students can also access networking opportunities through an alumni network of over 70,000.
5. University of Alberta
As a top 5 research university in Canada, the University of Alberta offers 120 undergraduate and 170 graduate programs including commerce degrees through the Alberta School of Business.
- QS Ranking: 113
- Programs Offered: BCom, MBA, Executive MBA, PhD
- Admission Requirements: Low 80s in relevant diplomas, IELTS 6.5
- Tuition: BCom – $18,497 per year
This public university has over 39,000 students enrolled with 10% being international students. Located in Edmonton, it is an affordable option for studying commerce in western Canada.
6. University of Calgary
The University of Calgary is globally recognized as a research and teaching powerhouse. Through the Haskayne School of Business, students can pursue respected programs like:
- QS Ranking: 251
- Programs Offered: Bachelor of Commerce, MBA, Executive MBA, Masters
- Admission Requirements: Low 80s in relevant diplomas, IELTS 6.5
- Tuition: BCom: $18,300 per year
This public university has a focus on experiential learning through case studies, simulations, internships and more. Students are supported in their job search through career coaching and networking events.
7. Queen’s University
Queen’s University is based in the student town of Kingston, Ontario. Through the Smith School of Business, it offers prestigious commerce programs focused on leadership and sustainability.
- QS Ranking: 229
- Programs Offered: BCom, Graduate Diploma, MBA, PhD
- Admission Requirements: Low 90s in relevant diplomas, IELTS 6.5
- Tuition: BCom – $21,500 per year
Queen’s commerce graduates earn some of the highest starting salaries in Canada. They also benefit from access to a network of over 140,000 alumni working globally.
8. Dalhousie University
Dalhousie University is located in Halifax on Canada’s east coast. It is a top research-intensive university offering commerce programs through the Rowe School of Business.
- QS Ranking: 280
- Programs Offered: BComm, MBA, PhD
- Admission Requirements: Low 80s in relevant diplomas, IELTS 6.5
- Tuition: BComm – $18,850 per year
Dalhousie is recognized for its small class sizes, oceanfront campus, and industry connections through a co-op program. Undergraduate students can choose concentration areas while pursuing their versatile BComm degree.
9. University of Victoria
Located on Vancouver Island, the University of Victoria (UVic) is known for its picturesque campus and dynamic research culture. Through the Gustavson School of Business, students can access programs like:
- QS Ranking: 370
- Programs Offered: BCom, MGB, MBA, PhD
- Admission Requirements: Low 80s in diplomas, IELTS 6.5
- Tuition: BCom – $18,000 per year
UVic focuses on sustainability, social responsibility and experiential learning. Undergraduate students collaborate through group projects, case competitions and more.
10. York University
York University is a leading research university located in Toronto, Canada’s economic hub. Through the Schulich School of Business, students can pursue globally recognized degrees like:
- QS Ranking: 451
- Programs Offered: BBA, MBA, International MBA, EMBA
- Admission Requirements: Mid 80s in relevant diplomas, IELTS 6.5
- Tuition: BBA – $19,500 per year
Schulich equips students with skills in areas like finance, marketing, operations and more. Undergraduates also gain work experience through an 8-12 month internship program.
11. Memorial University of Newfoundland
Memorial University is based in the lively city of St. John’s. It offers the following commerce programs through the Faculty of Business Administration:
- QS Ranking: 801-1000
- Programs Offered: BC, MBA, Graduate Certificates
- Admission Requirements: 60%+ in diplomas, IELTS 6.5
- Tuition: BC – $11,460 per year
As one of Canada’s most affordable options for commerce education, Memorial University helps students build skills in areas like accounting, HR and marketing needed to succeed in business.
12. University of Manitoba
The University of Manitoba is a medical-doctoral university and research powerhouse located in Winnipeg, Manitoba. Students can pursue respected business degrees through the Asper School of Business like:
- QS Ranking: 601-650
- Programs Offered: BComm, MBA, MSc, PhD
- Admission Requirements: 60-80%+ in relevant diplomas, IELTS 6.5
- Tuition: BComm – $13,000 per year
This public university focuses on collaboration through case studies, simulations, consulting projects and more. Students build expertise in finance, marketing, international business and more.
13. University of Guelph
The University of Guelph is a comprehensive public research university located in Guelph, Ontario, about 100 km west of Toronto. Through the College of Business and Economics, students can access programs like:
- QS Ranking: 551-600
- Programs Offered: BComm, MBA
- Admission Requirements: 70-80%+ in diplomas, IELTS 6.5
- Tuition: BComm – $16,000 per year
This leading Canadian research university offers an intimate learning environment. Undergraduate commerce students take part in co-ops, study abroad opportunities, and benefit from small class sizes.
14. University of Saskatchewan
The University of Saskatchewan is a medical-doctoral university located in Saskatoon, Saskatchewan. Through the Hill and Levene Schools of Business, students can pursue globally recognized degrees including:
- QS Ranking: 701+
- Programs Offered: Bachelor of Commerce, MBA, MSc, PhD
- Admission Requirements: 60-70%+ in diplomas, IELTS 6.5
- Tuition: BComm – $13,000 per year
This public research university focuses on innovation and Aboriginal engagement. Students build expertise in accounting, finance, marketing, management and more through case studies and class discussions.
15. Carleton University
Located in Ottawa, Ontario, Carleton University is focused on developing solutions to real world problems through research and education. It offers the following commerce programs through the Sprott School of Business:
- QS Ranking: 701+
- Programs Offered: BIB, MBA, PhD
- Admission Requirements: High 70s in diplomas, IELTS 6.5
- Tuition: BIB – $29,264
Sprott’s Bachelors of International Business gives global perspectives on trade, marketing and entrepreneurship. Students engage in consulting projects, study abroad opportunities and networking events.
This covers the top universities and colleges for commerce degrees in Canada with options coast to coast. All offer respected business programs focused on hands-on learning, research, and preparing graduates for management careers around the world.
Now let’s take a look at the types of commerce programs you can study as an international student in Canada.
3. Popular Commerce Programs in Canada
Canada’s top business schools offer a wide range of programs focused on developing analytical, communication, leadership and problem-solving skills.
Here are some of the common commerce degrees available:
Undergraduate Programs
- BCom or BBA: Bachelor of Commerce and Bachelor of Business Administration are 4-year programs that provide foundation knowledge in areas like accounting, marketing, finance, management and more. Students can specialize later.
- BMOS: Bachelor of Management and Organizational Studies focuses on leadership, operations, and managing people. Offered at Western University.
- BIB: Bachelor of International Business provides global perspectives on marketing, trade and cross-cultural management. Offered at Carleton University.
Graduate Programs
- MBA: The Master of Business Administration is a 2-year graduate degree for business management. Specializations like finance, analytics and marketing are offered.
- Masters in Management Analytics: This 1-year masters degree focuses on data analysis skills needed for business intelligence roles.
- MCom or MSc: These 1-2 year research-based Master of Commerce and Master of Science programs go in-depth into accounting, finance, marketing or HR.
- PhD: A Doctor of Philosophy in Business takes 4-6 years focused on high-level research. Graduates can become professors or leadership consultants.
As you can see, Canadian business schools offer a diverse range of programs catering to different commerce career paths. Entry requirements vary based on your previous grades and English test scores.
4. Commerce Admissions Requirements for International Students
To gain admission into top commerce programs in Canada, international students need to meet certain academic and English language proficiency requirements.
Academic Requirements
For undergraduate commerce programs like BCom and BBA, you generally need:
- Completion of high school diploma or equivalent with strong grades ranging from 60% to low 90s depending on the university and competitiveness of the program.
- Academic transcripts, letters of recommendation, statement of purpose may also be required for assessing your application.
For masters and PhD programs, you require:
- Completion of a relevant bachelors degree with strong grades. Programs like MBA may require 1-2 years of work experience.
- Competitive test scores in exams like GMAT or GRE are also required.
- Research proposal, statement of purpose, letters of recommendation and resume will be needed.
English Language Proficiency
Accepted exams and minimum scores include:
- IELTS: Band 6.5 or 7.0 for most undergraduate programs. Masters/PhD may need Band 7.0.
- TOEFL: 85-100 depending on the program’s requirements.
- PTE: 58+
Without the minimum scores, you may have to pursue academic English courses before beginning your degree.
Prepare a competitive application by maintaining strong grades, taking English tests early and getting relevant work experience if required.
5. Tuition Fees for Commerce Programs
Studying commerce in Canada is more affordable compared to countries like the US and UK. Here are the average tuition fees per year:
- Undergraduate: $15,000 to $30,000
- Masters Degrees: $17,000 to $ 35,000
- MBA: $30,000 to $65,000
- PhD: $4,000 to $12,000
As an international student you pay higher tuition fees compared to domestic Canadian students. Scholarships and research assistantships can help cover costs. Overall, Canada offers an affordable, high-quality commerce education.
6. Scholarships for International Commerce Students
To help support your education costs, here are some major scholarships available:
- Vanier Canada Graduate Scholarships – $50,000 per year plus $20,000 research allowance
- University of Manitoba Graduate Fellowships – $14,000 to $18,000 per year
- Pierre Elliott Trudeau Foundation Doctoral Scholarships – $40,000 per year for 3 years
- Ontario Graduate Scholarship (OGS) – $15,000 for masters or PhD students
- Queen Elizabeth II Diamond Jubilee Scholarships – Covers tuition plus living expenses
- Mitacs Globalink Research Internship Awards – $6,000 for a 12-16 week research internship
Apply for scholarships offered by the Government of Canada, individual universities and external organizations. Get help from the international students office on campus.
7. Career Opportunities After Graduation
Pursuing a commerce degree in Canada allows you to enter into a variety of high-paying and meaningful management careers such as:
- Financial Analyst – Prepare financial reports, forecasts and guide investment strategies. Median salary of $68,000.
- Marketing Manager – Oversee marketing campaigns, branding and lead generation efforts. Average salary of $77,000.
- Business Analyst – Analyze operations to improve efficiency and solve organizational problems. Earn $64,000 on average.
- Accountant – Handle bookkeeping, taxation, audits and financial reporting. Average salary of $69
7. Career Opportunities After Graduation (continued)
- HR Manager – Recruit, train and manage employees to optimize organizational effectiveness. Average salary of $74,000.
- Investment Banker – Develop client relationships and analyze financial information for trading, mergers and acquisitions. Earn $104,000 on average.
- Management Consultant – Provide expertise to organizations to solve problems and improve performance. Median salary of $90,000.
- Supply Chain Manager – Plan and optimize production, inventory, transport and logistics. Average pay of $87,000 per year.
According to PayScale, the average starting salary for undergraduate commerce graduates in Canada is around $48,000 per year. With a masters or MBA degree, salaries shoot up to $70,000 or more to start.
Gaining work experience through co-ops and internships while studying can help boost your employability and earn higher starting wages. Choose your specialization wisely and network proactively to access the best career opportunities.
8. FAQs About Studying Commerce in Canada
Here are answers to some frequently asked questions about pursuing commerce education in Canada:
Which city is best to study commerce in Canada?
Toronto, Vancouver, Montreal and Calgary are among the top cities to study commerce based on quality of business schools, cost of living, career options and student lifestyle.
What GPA do I need to get into a top commerce program?
For undergraduate programs you need a GPA of around 3.3 to 3.7 on a 4-point scale at a minimum. For MBA and masters programs, your GPA should be above 3.7 with over 3 years of work experience preferred.
Do I need to write GMAT for a masters in Canada?
GMAT is required for MBA and some masters programs but not all. Some universities may waive it if you have very high grades or enough work experience.
Can I work while studying commerce in Canada?
Yes, you can work part-time on campus and off campus too. On a study permit you can work up to 20 hours per week during semesters and full-time during breaks.
What is the cost of living in Canada as a student?
Your living costs in Canada including accommodation, food, transport and other expenses will range from CAD $12,000 to $20,000 per year approximately. Choose an affordable student city like Edmonton or Winnipeg to save costs.
Is it easy to immigrate to Canada after graduation?
Yes, international graduates from Canadian universities and colleges have excellent chances of securing permanent residency in Canada after finishing their program through Express Entry and PNPs.
Start Your Commerce Journey in Canada
A commerce degree from Canada will provide you with the dynamic business skills and global perspectives needed to launch a rewarding management career. The country offers high quality undergraduate and postgraduate programs that prepare you for leadership roles across industries.
With affordable fees, easy immigration policies, and abundant career prospects, Canada should be on top of your list for commerce education abroad. Do thorough research and apply wisely to secure admission into the best Canadian business schools and universities outlined in this guide.