The benefits of earning an MBA are clear: the average salary of a graduate from a Canadian business school was between $80,000 and $90,000 in 2015, and the degree opens career opportunities that would otherwise be closed to you. Even though you will graduate with higher salary expectations and better job prospects, many students choose to hold onto their present employment, either because they’re uncertain about the job market or because they’re aiming for a promotion within their company or industry.
The school you attend should be known for producing graduates who go on to become executive leaders in their companies; schools aren’t shy of promoting where their graduates have gone on to become CEOs and other leading executives. For example, graduates of the Lazaridis School of Business &Economics have gone on to lead BMO, AIG, Toyota Canada, Kellogg’s Canada and many others. The school has recently been renamed after one of the co-founders of RIM (Research In Motion), a Waterloo-based technology firm that pioneered smartphones. The school offers a unique specialization in entrepreneurship, an ideal focus for anyone who wants to earn a master of business administration in order to launch their company or work in a start up environment where their own vision and expertise can help shape the growth of a company.
At the centre of the Canadian financial industry, MBA programs in Toronto attract many students who want to pursue careers in the finance industry with private equity firms, banks and hedge funds. In addition to 10 specialization options, including accounting and financial management, students at the Lazaridis MBA program in Toronto also have the option of preparing for the CFA exams as part of their studies. The CFA is a highly sought after designation in the finance industry and requires three levels of examination and globally the pass rate at each level over the last several years has been lower than 55 per cent.
In addition to specializations and extra designations that an MBA program will help you earn, the actual location of the school is an important factor to consider. If you’re working while you study, it helps considerably if there’s a top MBA school in Canada within commuting distance of your job. Living in Toronto means that you live in one of the most desirable cities for MBA students and graduates, which is why institutions like the Lazaridis School of Business & Economics has a campus in downtown Toronto, in addition to Waterloo. In the heart of the finance industry, it simplifies your commute on a Friday evening and makes it easier for you to balance your work, family and studies.
A survey by Forbes has shown that earning a part time MBA increases your salary expectations and will reduce your debt load compared to a full-time option by allowing you to continue drawing a salary while you study. Studying part time can deliver a better ROI, keep you out of debt, and leave you in a stronger position on the job market when you graduate. Stop dreaming about your next career step and start earning it, study at a business school in Toronto while you work.