Who’s Hiring MBA Grads? Canada’s Top Industries for MBA Jobs in 2025

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Last updated January 10, 2025

MBAs aren’t just for consultants and finance executives anymore. The latest data from Canada’s top MBA programs and recruiters alike indicate that today’s MBA graduates are increasingly working in technology, health care, and manufacturing, among other sectors.

For many, an MBA continues to be a catalyst for career growth, says Travis O’Rourke, President of Hays Canada, a leading recruitment firm. While the content of MBA courses can help develop problem-solving, analytical abilities, and a number of other hard and soft skills, the very act of pursuing the degree shows something to potential employers, he says.

“The type of individual who goes through an MBA program is ambitious. They have the work ethic to go above and beyond. If you’re going to have that for education, you’ll have that for an employer. That leads you to the next destination in life faster than most,” says O’Rourke.

MBA graduates have in-demand skill sets that are relevant to roles well beyond just finance. O’Rourke says the top sectors that are actively seeking MBA talent in Canada continue to include financial services and consulting, but also technology, and energy and natural resources.

mba jobs and salaries by industry
Chart displays averages calculated based on employment data reported by a selection of MBA programs in Canada, published between 2022-2024.

 

CourseCompare’s analysis of MBA graduate employment reports from a selection of the top MBA programs in Canada found that about 12 percent of MBA grads in the last two years went on to work in the technology sector, while 8 percent are working in the field of health care. Another 4 percent are in the manufacturing industry, and 4.5 percent went into energy and natural resources.

Altogether, just over half (51 percent) of MBA grads are working in industries outside of finance and consulting.

There’s also more diversity in the types of job functions MBA holders are fulfilling in the workplace. Traditionally, many MBA graduates have flocked to the finance side of organizations. But O’Rourke notes other areas within organizations where MBA skills are in demand.

“Different places you can make a real impact now is anywhere inside manufacturing or on the operations side. Anyone who knows how to make the sausage and how to make it more efficient is a lethal combination,” he says.

Based on employment reports, CourseCompare found that about 5 percent of graduates from a selection of the top MBA programs in Canada went on to roles in operations and logistics in the last two years.

mba jobs and salaries by industry
Chart displays averages calculated based on employment data reported by a selection of MBA programs in Canada, published between 2022-2024.

 

O’Rourke also touts the benefits of cross-functional expertise, such as marrying existing competencies in technology with an MBA mindset. Indeed, the Graduate Management Admission Council (GMAC), a global association of leading graduate business schools, released its latest survey of corporate recruiters in July 2024. It found that employers across sectors are most likely to expand hiring of data and business analytics graduates.

“If you’re working in the financial realm of procurement and go get an MBA, you wouldn’t expect to get a major pay increase or your job prospects to increase dramatically as a result. But if you’re a software developer and you’re now working on ecommerce projects, an MBA makes you more employable,” O’Rourke says.

A Look at the Average MBA Salary in Canada, by Industry and Job Function

MBA students tend to be ambitious, with goals of leveraging their degree to negotiate promotions or raises in their current roles – or pursuing new, more lucrative opportunities.

Take Jonathan Bennett, who landed his role as Business Development Officer for the College of the North Atlantic in Newfoundland and Labrador in 2022, just two months after completing an MBA at the University of Fredericton. He did his studies online, while working full time.

“This was my next stepping stone,” says Bennett, who lives in the community of St. George’s, on the southwest coast of Newfoundland.

Every day, Bennett applies what he learned in UFred’s MBA program to his work with business development clients – from strategic thinking, to managerial accounting and finance, to the skills highlighted in the specialty stream of human resources leadership he studied.

“It definitely plays a role in my success in this position, being able to work with a client to understand and meet their training needs,” he says.

One in three MBA and EMBA students (33.83 percent) at the University of Fredericton received promotions during their degree program or immediately after graduation, according to UFred’s 2023 MBA and EMBA alumni survey.

Bennett says his MBA has already paid off in terms of helping him secure a higher salary, and a greater number of current and anticipated job opportunities. “I picture myself as an executive,” he says.

mba jobs and salaries by industry
Chart displays averages calculated based on employment data reported by a selection of MBA programs in Canada, published between 2022-2024.

 

Across Canada’s top MBA programs, average post-MBA salaries range from $91,000 to $157,000, depending on the industry and job function, as well as other factors such as geography and work experience.

Though consulting continues to be a top industry by average base salary for MBA graduates, other top sectors include health care, technology, and transportation and logistics, as well as finance, based on CourseCompare’s analysis of MBA employment reports.

Looking at salary data by job function, those in operations and logistics are earning the highest average base salaries.

mba jobs and salaries by industry
Chart displays averages calculated based on employment data reported by a selection of MBA programs in Canada, published between 2022-2024.

 

When it comes to salary, while the MBA credential (and other education) matters, so do work history and industry tenure.

“MBAs make you worth more for jobs that require an MBA. But most organizations favour experience,” says Sarah Tokar, President of Aplin, a recruiting agency based in Calgary. She says an MBA graduate with little experience shouldn’t expect to get $100,000 out of the gate.

The proliferation of MBA programs also makes it important to pick the right one, Tokar says. “Look at the reputation of the program and the alumni network.”

In its July 2024 survey of corporate recruiters, GMAC reported optimistic hiring projections. Most global recruiters are planning steady or expanded hiring through 2024, and one-third expect to hire more MBA graduates than in 2023.

GMAC notes that a growing number of employers say that business school graduates tend to outperform their other employees, reach upper-level positions quicker, and earn more. Roughly two-thirds of employers reported that they believe full business degrees are more effective for employee success than micro-credentials.

How to Choose the Right MBA Program For You

The University of Fredericton appealed to Bennett because of the flexibility of their online program and good word of mouth. He wanted to continue working during his studies. When he discussed his goals at work, a colleague who had recently graduated from UFred’s MBA program gave the experience high marks.

“I always intended to do an MBA. It was just finding the right place,” says Bennett.

He started the program in March 2020, just as everything shut down due to the COVID-19 pandemic. At the time, he was working for the College of the North Atlantic as a Student Development Officer, managing student life on campus.

After graduating with his MBA, Bennett felt he had the expanded knowledge and skills to go after strategic roles like his current one. The MBA experience gave him something else that’s valuable in a job search: “I was very confident.”

Prospective and current MBA students should not overlook the importance of those soft skills developed during their studies. According to GMAC’s latest survey of corporate recruiters, the three most important future-ready skills for current graduates are problem-solving, communication, and strategic thinking. Next on the list of what global employers value: teamwork, adaptability, and decision making.

An MBA is worthwhile within the context of continuous learning, says Tokar. It’s part of a journey, not the final destination. The key is staying current, no matter the route.

“I don’t think education is ever a bad investment,” she says. “But if you completed an MBA five years ago, I’ll still ask what you’ve done in the last two years to develop yourself.”

Stuart Foxman Contributing Writer

Stuart Foxman is a Toronto-based freelance writer and editor. He writes regularly about health care, education, financial services, sustainability, retail and social services, among other topics, for media and corporate clients. No matter the subject area, his goal is always to promote understanding, generate interest and inspire action.

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