Estimate of living expenses

Based on living expenses for a single person.

ItemDetailsCost
TuitionTuition is paid each term. Use the MBA Tuition & Supplemental Fee Schedule to determine how much your tuition will be.Varies
RentExpect to spend around $600 to $1,000 each month on rent. Visit McMaster’s Off Campus Housing site to view rentals for graduate students, faculty and staff to get an idea of the current rates in the Burlington and Hamilton areas.Varies
UtilitiesCosts for utilities such as heat, electricity and water are often included (or partially included) in rental agreements. However, if utilities are not included with your rent you should set aside $300 – $400 per month.$300 to $400 per month
Cable/TVBasic cable$30 to $50 per month
Cell phoneDepending on your plan$30 to $100 per month
InternetDepending on your plan$40 to $100 per month
FoodAround $400 per month
Books This will vary by term depending on the courses you take and whether you purchase new or used books.Plan on spending $500 to $800 per term
TransportationShuttle service from Hamilton’s main campus to the Ron Joyce Centre is free. There is also free shuttle service between the Ron Joyce Centre and the Appleby GO station. If you plan to live in Hamilton, a public transit pass for Hamilton’s HSR bus service is around $95 per month.*¬† If you own a car, be sure to budget money for gas and maintenance.
*Please note that the HSR (Hamilton) bus pass is not included in your fees as an MBA student.
Varies
ParkingA parking pass for the Ron Joyce Centre is $35 per month$35 per month
Extended health & dental coverageFull-time and co-op MBA students are required to enroll in the Graduate Student Association (GSA) health plan. The cost of the plan is approximately $196 per academic year. However, if you are already covered under another health plan you can opt-out of this program. Opt-out forms are available from the GSA. All visa students must also enroll in the University Health Insurance Plan (UHIP).about $16 per month
Everything elseMight include entertainment, eating out, clothing, personal care items, etc.$250 to $400 per month
Unexpected ExpensesPut aside anywhere from 3-10% of your overall costs to use for unexpected expenses. Things like fixing your computer, upgrading a suit or car repairs.about 3-10% of your overall costs

 

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