Maclean’s Canada’s Best Business Programs: University Rankings 2024 | Results and Analysis

Maclean’s has released Canada’s Best Business Programs: University Rankings 2024. This guide offers valuable insights into the top institutions to help you understand what makes them stand out. Explore crucial data and analysis that will empower your decision-making process to find the perfect business school.

In short

Maclean’s Canadian University Rankings 2024

Here are the top ten schools in Maclean’s Canada’s Best Business Programs: University Rankings 2024.   

  1. UBC Sauder School of Business at the University of British Columbia (UBC) 
  2. Rotman School of Management at the University of Toronto  
  3. Desautels Faculty of Management at McGill University 
  4. Ivey Business School at Western University 
  5. Smith School of Business at Queen’s University 
  6. Alberta School of Business at the University of Alberta 
  7. Schulich School of Business at York University
  8. Haskayne School of Business at the University of Calgary 
  9. HEC Montréal at Université de Montréal 
  10. Lazaridis School of Business at the University of Waterloo

What Are the Maclean’s Business Program Rankings?

Canada, known for its diverse and inclusive society, is a popular study destination. With a stimulating learning culture and post-grad career opportunities around every corner, it’s certainly appealing. Yet, figuring out which institution is the most suitable for you is not that simple.  

For those searching for a master’s program, rankings serve as a crucial guide, offering valuable insights and direction amidst a plethora of options. 

Maclean’s is a revered Canadian news magazine with over a century of publication history. It annually presents its authoritative business school rankings. These rankings are a treasure trove of information for both prospective students and recruiters, providing a clear picture of the academic landscape in Canada.

These institutions represent the pinnacle of business education in Canada, setting benchmarks in both academic and research excellence. But how does Maclean’s evaluate the universities?

What Criteria Does Maclean’s Use in Its Business Program Rankings?

The methodology of ranking universities, particularly in the context of business education, necessitates a blend of quantitative data and qualitative insights. Maclean’s has rigorously evaluated universities since 1991. 

Maclean’s uses twelve performance indicators across five areas, drawing data from public sources like Statistics Canada, federal granting agencies, and over 50 award-giving organizations. 

A crucial aspect of their methodology is the reputational survey, gathering perceptions from university faculties, administrators, and business professionals.

Weighted Rankings and Criteria

The final ranking for each university is a culmination of scores in various areas as follows: 

  1. Students (20%): National academic awards and student-faculty ratio;
  2. Faculty (20%): Awards won and research grants obtained;
  3. Resources (22%): Operating budget, research dollars, and library resources;
  4. Student Support (18%): Allocation for student services, scholarships, and bursaries;
  5. Reputation (20%): Based on the reputational survey.


The methodology ensures a comprehensive and relevant analysis, offering students and educators a trustworthy resource.

What’s New in Canada’s 2024 Best Business Program Rankings

The 2024 list of Canada’s top 10 business programs shows consistency with a few shifts from last year’s rankings.

The University of British Columbia (UBC), the University of Toronto, and McGill University retain their places in the top three. UBC and Toronto are tied for the top spot. 

Western University’s ascent to the fourth rank pushes Queen’s University to the fifth position. 

The University of Alberta, York University, the University of Calgary, and the University of Montréal stay entrenched in their respective spots from sixth to ninth position. 

As the only newcomer, the University of Waterloo closes the top 10, climbing three positions from last year.

Leveraging Rankings to Find the Best Business Program

Choosing between top business schools in Canada is an important decision that shapes academic and professional futures. Data from this ranking can be insightful in multiple ways. 

Aspiring students should explore performance indicators matching their academic preferences. For instance, if research is your strength, consider institutions with high scores in research income and faculty grants. However, if you prioritize student support, examine budget allocations for student services and scholarships. 

Whatever you decide, a suitable master’s program should align with your academic aspirations and personal goals. 

For more information on Canadian business schools, contact student and alumni ambassadors.

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