magazine reports on how Canada's MBA programs are trying to attract the world's top students—and keep them here as residents after they graduate.
"Several things have happened to persuade more overseas students to consider Canada. Firstly, the US, in response to a tough job market, has tightened up its visa policy, making it more difficult for foreigners to stay and work in the country once they graduate. The number of H1-Bs, as the relevant visas are called, is now capped at 65,000. In 2003 it was 195,000. This is a puny number given that in 2011 there were around 723,000 foreign students in the US, according to the Institute of International Education. Furthermore, students are only awarded an H1-B if they already have a job offer. To make matters harder, this must be directly related to their field of study. MBAs have been particularly affected by the clampdown because the raison d'être of many business students is to get a new job at the end of the course."
"While America works to keep well-qualified people out, Canada has moved in the opposite direction. As of 2008, all students who complete a two-year Master's degree automatically have the right to stay in the country and work for three years. They do not need to have a job lined up and are not restricted to working in a particular field."
"Charmaine Courtis, executive director of student services at York University's Schulich School of Business, says that around 80 per cent of foreign MBAs at the school choose to stay and work in Canada immediately after their MBAs. After that, she adds, most tend to return home, taking their newly honed skills with them. It is a similar story at Rotman, says[Jeff] Muzzarall. However, given that the average age of an MBA on its full-time programme is 28, by the time that they have studied for two years and lived in the country for a further three, many have settled down with a mortgage and new family, which can persuade them to stay for good."
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Original Source: The Economist