MBA graduates in Canada may have a hard time choosing a career path. In Ontario, the Greater Toronto Area stands out as a hub for finance, with Toronto being the second-largest financial center in North America, while Hamilton is widely regarded for its strong advanced manufacturing and life sciences sectors. Meanwhile, Alberta, particularly Calgary, is renowned for its thriving energy sector and abundant business opportunities.
These regions offer diverse career paths, making Canada an ideal destination for ambitious MBA graduates.
The country is also experiencing growth in sectors where MBAs will be in-demand, including environmental consulting, clean energy, technology, and manufacturing.
If you’re wondering where you might find yourself after business school in Canada, these are the top options for MBA graduates
Consulting
Consulting is consistently ranked the top career path for business school graduates worldwide, and this also holds true for Canadian MBAs.
About a third of MBA graduates from the Rotman School of Management, University of Toronto, enter the consulting industry directly after their degree, for example, working for one of the Big Three consulting firms.
Meanwhile, 35% of Rotman MBA graduates find themselves in consulting roles after graduation, which may be within a consulting firm or in specialized areas such as finance or healthcare consulting.
Rotman’s Career Services host workshops and industry events to guide students on their career planning, exploration, and network building, such as how to use LinkedIn to land a job and career talks with industry professionals.
Schulich School of Business, York University, based in Toronto, is also well renowned for its placement of MBA students into consulting roles.
According to 2024 full-time MBA employment data, 16% of Schulich MBA graduates gain employment (by function) in consulting.
In the second year of the Schulich MBA, students apply their knowledge in a practical context through the Strategy Field Study—an eight-month consulting project with real-world businesses.
Canada's professional services and consulting sector is focused in Toronto, where the Big Three consulting firms have headquarters, plus Big Four accounting firms like Deloitte, KPMG, and Accenture. As a result, MBA students located in Toronto can network with these prominent recruiters during their studies.
Located in Toronto's central business district with access to Canada's top consulting firms, Ted Rogers School of Management, Toronto Metropolitan University is also a strong option for prospective students wishing to enter consulting after an MBA. Its program offers elective courses in Consulting, and a Management Consulting skills capstone project option.
Startups and entrepreneurship
MBA students acquire skills critical for entrepreneurship, including project management, problem-solving, and resilience. As a result, Canadian business schools report that more MBA graduates are pursuing careers at startups or as founders of their own companies.
In particular, Toronto has developed a reputation as an innovation and startup hub. The Toronto-Waterloo region ranks among the top 20 in the Global Startup Ecosystem Report 2024, beating US startup hubs such as San Diego, Seattle, and Philadelphia.
“Being situated in Toronto, a global innovation hub teeming with startups, venture capitalists, and angel investors, our students are inspired to think beyond traditional career paths,” explains Arfa Dar, manager, graduate careers and engagement, at the Ted Rogers School of Management.
“They are gravitating toward entrepreneurial opportunities, daring to pursue ownership, and contributing to the rapidly evolving business ecosystem.”
Arfa explains that the Ted Rogers MBA program is strategically located close to the Tech Toronto district, which draws inspiration from Silicon Valley.
Meanwhile, the Kitchener-Waterloo region is also well renowned for tech, while Calgary and Ottawa are among the top cities listed as emerging ecosystems.
Many of Canada’s leading business schools support MBA entrepreneurship. For example, the Schulich School of Business offers the Schulich Startups and Entrepreneurial Studies Specialization, while the Rotman School of Management offers a specialized elective in entrepreneurship and a module in Creativity and Innovation.
At the DeGroote School of Business, MBA students can learn about entrepreneurship in a variety of courses including The Clinic, which allows MBA candidates to take medical focus research to market.
Banking and financial services
All of Canada’s Big Five banks are headquartered in Toronto: The Bank of Montreal (BMO), Scotiabank, Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and Toronto-Dominion Bank (TD). Subsequently, the city is a top destination for MBAs aiming for careers in banking or financial services.
At Rotman School of Management, 34% of MBA graduates are employed in the financial services industry.
Lyla Korhani, director, career services at the Rotman School of Management, comments on the advantageous location of its business school, which is located steps away from Bay Street and the five bank headquarters: “With our downtown location, there is an ease for employers to come to campus to host events and meet in person with students.
“Given the proximity to employer offices, at times they also welcome students to events at their offices to see behind the scenes and meet other employees.”
Rotman MBA students can also participate in the Flexible Internship Program, which provides students with hands-on industry experience and exposure.
Meanwhile, MBA graduates from the Schulich School of Business can also expect to land roles within financial services, with 27% of grads gaining jobs in this sector. Multiple alumni have held the top positions at the six biggest banks and financial services institutions in Canada.
All students complete a core Business and Sustainability course in their first year of the Schulich MBA, where they’re invited to “critically consider the environmental, social, and economic impacts of business when making career decisions,” says Hollis Sinker, executive director, Centre for Career Design, Schulich School of Business.
Over at Ted Rogers School of Management, 23% of MBA grads move into finance and banking, which is unsurprising given its easy access to Toronto's bustling business district. For those wanting to move into the sector, the school offers a core course in Finance and specialized electives as part of its accelerated, full-time, one-year program.
There are opportunities for finance-focused MBAs outside Canada’s largest city, too. At the DeGroote School of Business, McMaster University, in Burlington, Ontario, 30% of MBA graduates enter the financial services sector.
MBA students at the DeGroote School of Business can choose the co-op program which allows them to gain additional work experience while they study.
“The ability to gain full-time work experience over three work terms while completing your degree ensures you continue to grow your relevant skills, expand on your experiences and broaden your network to best achieve your career goals,” states Cynthia Bishop, manager, career and professional development at the DeGroote School of Business.
“Being situated in Southern Ontario supports the varied career interests of our students. Students have access to sector clusters typically aligned with MBA talent such as financial services and professional services but also sectors aligned with personal preferences such as healthcare, technology, manufacturing, arts and entertainment, green energy, education, real estate and government,” adds Cynthia.
Sports management
It’s not just the traditional MBA sectors that are popular in Canada. Today, business school graduates are pursuing business opportunities in the country’s thriving sports industry.
Toronto is a hub for the sports industry. It is home to Canada’s only National Basketball Association (NBA) team, as well as iconic ice hockey and baseball teams.
At the Ted Rogers School of Management, there has been an increased interest in these sectors in recent years, with almost 15% of students working in sports media or media productions—compared with the 11% of grads who enter the technology sector.
The wide-ranging approach to career guidance at the Ted Rogers School of Management may explain the broader range of career paths its MBA graduates choose.
“Our holistic strategy ensures students are equipped with the skills, insights, and networks needed to excel in the competitive job market when navigating career advancement or career transition decisions,” says Arfa from the Ted Rogers School.
Healthcare
Canada’s healthcare system is world-renowned, ranking fourth globally across factors like medical infrastructure and medicine availability.
Consequently, Canada is also a hotspot for research and health tech, where MBAs can thrive as project managers, supply chain managers, and consultants.
Students interested in working in the healthcare sector might consider an MBA with a healthcare specialization, like the one offered by the DeGroote School of Business.
The MBA in Health Services Management specialization equips students with the skills necessary to work in healthcare across planning, operations, and evaluation. As a result, 24% of DeGroote MBA graduates work in healthcare, more than in technology or professional services.
“Graduates from our Health Services Management specialization have been a great talent pipeline for the dynamic and innovative healthcare sector within Ontario, including hospitals, service providers, medical device manufacturers, and pharmaceuticals companies,” explains Cynthia from the DeGroote School of Business.
Digital innovation
The technology sector has grown to be the second-most popular career path for millennial business school students, and today, there are more opportunities than ever in roles encompassing AI adoption and digital transformation.
“For those pursuing careers in AI, Toronto ranks as the city with the highest concentration of AI startups in Canada, further enhancing the opportunities available to students,” says Hollis from the Schulich School of Business, which is based in the city.
Schulich MBA graduates are prepared for careers in technology, thanks to the Centre for Career Design (CCD) recognizing technology as a ‘career-ready competency'. This ensures every student receives support in mastering essential skills in the technology space including ethics and change management.
As a result, 11% of Schulich MBA graduates successfully transition into technology roles.
MBA graduates from the Ted Rogers School are also pursuing careers in digital innovation and tech.
“The proximity to resources and networks in Toronto’s thriving environment enables students to transform innovative ideas into viable, impactful ventures,” says Arfa from the Ted Rogers School.
The careers department at the Rotman School of Management has also remarked on this growing trend towards tech careers.
“In the digital, AI-age, new departments are emerging in healthcare and also financial companies for digital and innovation teams where MBA graduates are sought after talent,” notes Lyla from the Rotman School of Management.
This article was paid for by the featured business schools. Main image by Maridav / iStock.