Master’s in Business Administration, popularly known as MBA, is considered a course that opens a wide range of opportunities for the students. MBA enhances the skillset and gives vertical growth, which is beneficial for career development and keeps a professional ahead in the industry.
MBA teaches students how to manage a business successfully and how to adapt as per the latest global trends. Through the MBA program, students also learn how to run and revive business in an uncertain environment and in times of crisis.
According to the QS world rankings, Australia has emerged as one of the top 5 countries that attract international students to pursue an MBA abroad. By the data given by the Australian Council of International Education, 107,000+ Indian students were studying in Australia in the year 2018-19.
Pursuing MBA from a prominent international destination keeps any MBA graduate ahead in the competition. MBA professionals are provided with a much-needed head start in their careers after getting an education from Australian Universities.
Reasons for Australia being a hotspot for international students are: –
- Australia provides Quality education
- Students are exposed to High-end research opportunities
- Graduates have excellent career prospects
- Australia has implemented more favorable visa policies
- Australian Universities are Internationally recognized
- Courses are available in English
- Graduates are given Internships in top companies
- Australia boasts of a diversified cultural environment
There are two main application periods for Australian universities: –
- November (Applicable for few universities only)
Universities for MBA in Australia
Whenever an MBA aspirant research about any university for MBA courses offered in various universities in Australia, they should make sure about their preferences of specialization as in MBA, and the department matters the most.
The application process of applying for an MBA program at an Australian University is around 10-12 months. The sessions for MBA programs commence in February. So, it is advised to search for universities by April-May of the previous year.
Australian universities are the most sought study centers for MBA aspirants due to the excellence of Business and management schools in factors like research excellence, academic skills, and employability after MBA.
Universities for MBA in Australia
Whenever an MBA aspirant research about any university for MBA courses offered in various universities in Australia, they should make sure about their preferences of specialization as in MBA the department matters the most.
The application process of applying for an MBA program in an Australian University is around 10-12 months. The sessions for MBA programs commence in the month of February. So, it is advised to search for universities by April-May of the previous year.
Australian universities are a most sought study centres for MBA aspirants due to excellence of Business and management schools in the factors like research excellence, academic skills and employability after MBA.
Top Universities for MBA in Australia
Australia boasts of having 12 colleges in the top 30 institutes of Asia- Pacific Region. In all, Australia has 17 B-schools in QS world rankings. Australian Universities have been a pioneer in providing quality education.
The list of top 10 Australian Universities having MBA programs -based QS Global 250 Business Schools Report: –
- ASGM, University of New South Wales, Sydney
- Melbourne Business School, Melbourne
- UTS Business School, University of Technology, Sydney
- UQ Business School, University of Queensland, Brisbane
- Macquarie Graduate School of Management, Sydney
- Australian National University (ANU), Canberra
- Sydney Business School, University of Wollongong, Sydney
- Monash Business School, Melbourne
- RMIT University, Melbourne
- Curtin University, Perth
MBA in Australia colleges
Australia offers an excellent opportunity for international students. It has a great educational system that provides quality education that ensures the best courses for MBA students.
MBA courses in Australia have the edge over many other countries that are also attractive destinations, but it’s the Australian expertise that makes a difference.
Here is a list of MBA programs offered by some of the top business schools with their duration: –
|B-Schools||Duration of the course|
|Melbourne Business School||16 months|
|Macquarie University||1 Year|
|University of Tasmania||1.7 years|
|University of Canberra||2 years|
|Australian National University||1.5 years|
|Monash University||2 years|
|Bond University||1 year|
|University of Western Australia||16 months|
|University of Technology, Sydney||2 years|
|Central Queensland University||1-2 years|
Fees for MBA in Australia
MBA in Australia is a course with varied fees in different universities. The list of top universities with their Fees for Domestic and International students for the year 2020.
|University||STATE||Course||Fees for Domestic Students||Fees for International Students|
|University of Melbourne||VIC||University of Melbourne Senior Executive MBA||$126,000||$126,000|
|University of Western Australia||WA||University of Western Australia Master of Business Administration||$125,000||$122,500|
|University of Sydney||NSW||University of Sydney Executive MBA||$98,250||$103,500|
|Monash University||VIC||Monash University Global MBA||$98,400||$112,600|
|LaTrobe University||VIC||Master of Business Administration and Financial Analysis||$96,500||$109,000|
|UTS||NSW||UTS Executive Master of Business Administration (EMBA)||$76,120||$76,120|
|University of Western Australia||WA||Master of Business Administration||$89,550||$89,550|
|Bond University||QLD||Bond University MBA (Professional)||$65,910||$70,310|
|QUT||QLD||QUT Executive MBA||$73,728||$76,120|
|University of Wollongong||NSW||University of Wollongong EMBA||$71,652||$71,652|
|University of Queensland||QLD||University of Queensland MBA||$73,680||$87,080|
MBA in Australia Cost
Australia is a country with a high standard of living, and it is very costly to maintain a decent lifestyle in Australia. We have already discussed the course fee above. Still, here we will discuss the day to day costs of any MBA graduate based on different lifestyle preferences and try to give an idea about what can be an estimate of additional expenses.
This is the weekly living cost for international students in Australia based on different ways of lifestyle in approximate values: –
|Shared house or flat||On campus (college)||One-bedroom unit|
|Phone and Internet services||$30||$25.50||$30|
|Mess and food charges||$100-110||$100-110||$100-110|
Annual cost per person based on different lifestyle: –
|Stationery, Books, etc.||$819||$819||$819|
|International health cover for students||$380||$380||$380|
MBA in Australia for Indian students
Indian students consider an MBA in Australia as a popular concept due to the recognition of the Australian MBA course and their universities across the world. Some Indian students also look for affordable prices for an MBA degree in some Australian universities, which seems like an attractive option.
Australian universities are flexible in their course, and this allows students to work and study in Australia for better experience and exposure.
Indian students also get attracted to the cultural diversity in Australian universities that make it a desirable place for MBA. Due to quality education and an increase in the potential earning MBA is a viable option for Indian students.
MBA in Australia requirements
Admission into Australian universities can be completed by meeting these basic requirements: –
- Bachelor’s degree: An applicant must complete a bachelor’s degree in any stream from a recognized university.
- IELTS: Students must secure a good IELTS score to get an Australian visa. The students who belong to non-English speaking countries must prove English language proficiency for securing admission in an MBA program.
- Work Experience: A basic work experience proves to be advantageous, but it is not necessary. But candidates having 2-3 years of work experience are given preference.
- GMAT: GMAT score is accepted by most of the Australian universities. THE average GMAT score to secure admission in an Australian MBA program is 590.
Eligibility for MBA in Australia
Eligibility criteria for each university vary, by all Universities can be classified into 3 main categories:
- Category 1: Students with good GMAT scores, IELTS
- the score and significant work experience are mandatory requirements for these universities.
- Category 2: Some universities take students with good GMAT score or work experience and adequate IELTS score.
- Category 3: Some universities provide admission based on student’s academic scores and IELTS scores.
Salary of MBA in Australia
MBA gives advanced business knowledge to the students who become capable of facing the challenges posed by the business world. MBA graduates attract high-level employers, and they often land with high profile jobs, which leads to a greater salary soon.
MBA graduates have the potential for higher salaries, which is the biggest motivator for business professionals to pursue an MBA program.
Australia has generally been named among the countries with the best MBA earning potential, and it is consistently ranked amongst the top 10 countries by MBA graduates earning by QS world rankings.
Australia has a median salary of US$98,400, and it boasts of best offers for MBA graduates in the Oceania region, along with average bonuses of around US$17,000, total compensation package of US$116,200 can be expected by MBA graduates.
Jobs after MBA in Australia
Quality and talent don’t go unnoticed if you are an MBA graduate. The demand for MBA graduates among the employers is quite high due to the quality guaranteed by the Australian Universities, and this creates a pull among the employers across the globe who are ready to give handsome salaries for the people with the right skill and talent.
MBA graduates are paid well due to their problem-solving skills and high demand amongst the multinationals that have an excellent reputation for Business schools in Australia.
Top career choices offered by industries after completion of MBA in Australia are: –
- Account Executive
- Financial Services Manager
- Product Manager
- Marketing Manager
- IT and Computer Services
- Consulting Services
- Business development
- Operations manager
- Sales Manager
Cheap MBA in Australia for International Students
The selection of the right colleges is imperative, and student life cannot be complete without budget constraints.
As Australia’s cost of living is almost equivalent to that of the USA, it’s only the tuition fee that provides the difference that urges a student to look towards Australia, rather than other prime destinations for MBA.
This is a list of 10 most affordable MBA Colleges in Australia: –
|S.No||Name of College/ University||First Year Tuition Fee in US$||First Year Tuition Fee in INR*|
|1||Kaplan Business School||9,134.75||7,39,383.75|
|3||Charles Darwin University||12,210.00||9,88,730.40|
|4||Edith Cowan University||12,250.00||9,90,654.00|
|6||Central Queensland University||12,675.00||10,26,961.95|
|9||University of Southern Queensland||12,785.00||10,34,896.80|
|10||Southern Cross University||13,000.00||10,53,363.36|
MBA in Australia without work experience
Top-tier Australian universities accept the students who have lesser or no work experience in their MBA programs.
There are two different versions of the MBA program: –
- Executive MBA: – This kind of MBA is for the candidates with significant work experience
- Non-Executive MBA: – This kind of MBA is for the students who do not have work experience or don’t have work experience to that of an Executive MBA level.
The candidates should first evaluate the correct MBA course for themselves. Several courses that are better suited for the MBA students’ needs are available, and this is not based on work experience.
The curriculum of MBA programs for students without work experience is designed in a way such that students with lesser or no work experience can cope with the course.
Internships and group projects are included in the programs to provide some industry experience. Solutions to real business problems are found when people work with people from different streams, negotiate with various stakeholders and coordinate schedules.
MBA in Australia without GMAT
Many universities across the globe rely on different methods of theoretical and academic aspects of the MBA program.
But business schools in Australia share a different approach and mainly focus on training of the students to be successful future managers.
This is a major reason for business schools in Australia to provide more weightage to work experience rather than a standardized GMAT score of an MBA aspirant.
So, by all means, GMAT is required mandatorily for Australian B-schools, and an option for an MBA without GMAT in Australia is open for all the students.
Executive MBA in Australia
An Executive MBA in Australia is undertaken by professionals who want to give a boost to their career. Candidates advance within their current employer or organization and get higher salaries than their colleagues.
EMBA does not disrupt the current work schedules, and it is undertaken by professionals who possess five years of minimum work experience.
EMBA is available in different universities and online programs, where it depends upon preference of cities and curriculum.
EMBA Australia program allows the professionals on crossroads to replace their stagnation of growth by adding more knowledge and theory.
Here is a list of Universities providing Executive MBA in Australia: –
- Melbourne Business School
- MGSM Macquarie Graduate School of Management
- University of New South Wales
- University of Sydney
- The University of Queensland
- Queensland University of Technology
- University of South Australia
- Deakin University
- The University of Adelaide
- University of Technology, Sydney
Scope of MBA in Australia
Australia’s robust job market supports internship programs and placement capability for skilled MBA professionals.
Recent placements have shown an upward trend, and Australian university shows comparative placement records with the top US Universities.
Even after the comparison of salaries, Australian Universities perform much better than US Universities.
Australian MBA graduates are one of the highest-paid professionals in the world due to strong demand for top MBA graduates amongst multinational companies.
When we talk about the domestic markets in Australia, we find sectors like tourism and real estate are ever rising. Tourism has attracted more investors into Australia in recent years.
Due to good colleges and streamlined admission procedures, Australia gives a safe place for being an MBA graduate.
Scholarships for MBA in Australia
Arrangement for funds is one of the biggest obstacles that an aspirant face when they plan to study in international universities abroad. Arranging for education loans from has become tricky as student loan default has gone into billions of dollars, and not all students are eligible for an education loan. For a professional degree like an MBA, many universities do not offer tuition fee waivers in Australia. Due to this, students tend to look for scholarships to fund their MBA.
It is, therefore, imperative that students always go through the eligibility criteria and different costs covered in the scholarships.
Some accessible scholarships for MBA in Australia are: –
- Dr. Abdul Kalam International Undergraduate Scholarship
- Central Sector Scheme of National Overseas Scholarship
- Deakin India 10 percent Bursary for MBA, Sports Management, International Finance & Commerce
- Macquarie University Tuition Fee Grants for Indian Students
Is MBA in PR list in Australia
A permanent residency is an option applied by most of the international students who study in Australia.
After MBA degree completion, students tend to have only limited options for getting into the PR list in Australia. Some of these options are: –
485 Visa: –
- Work experience is allowed by an MBA graduate under this visa.
- 485 Visa is a temporary visa comprising of Graduate workstream and Post-study workstream.
- This visa is applicable only for the students who graduate with skill level on Schedule 1 of the Skilled Occupations.
457 Visa: –
- It is a temporary Visa valid for four years which is renewable.
- After working with a 457 visa for two years, Employer Nomination Scheme (ENS) can provide you with permanent Visa.
- State sponsorship gives permanent residency in any required skill from the skill list.
- For minimum eligibility of permanent residency in Australia, a candidate should have got a minimum of 65 points in a test known as Points Test.
MBA in Australia duration
Generally, the MBA program lasts about 2 years, but it varies from university to university in Australia.
Many universities in Australia have an MBA program for a duration between 15 months to 2 years. In recent years universities like Melbourne Business School have started giving one -year MBA programs.
The entrance exam for MBA in Australia
Initially, students need to give exams like IELTS, TOEFL, or PTE for gaining the required score to apply for MBA in Australian Universities as an English language testing examination.
The unsuccessful students can pursue ELICOS, also known as English Language Intensive Courses for Overseas Students, this exam is an Australian course equivalent to IELTS, TOEFL or PTE of English language courses.
Why MBA in Australia
Here are some benefits of studying MBA from Australia: –
- MBA from Australia is an internationally recognized degree, and career opportunities and earning potentials are gained by the students.
- Leadership qualities and communication skills are primarily focused.
- International students are given the opportunity to complete an internship with the indigenous companies.
- Australia is a multicultural country, and students live in the confluence of the eastern and the western world
How to apply for MBA in Australia
Here are some steps that will certainly help for applying for MBA in Australia: –
- Select a university-based on Academic Excellence.
- The worth of applying to a university is when it has International student support for helping international students to settle down in their universities.
- The location of a university should be of prime importance.
- MBA programs have different costs that vary from one university to others, so investigate the cost of studying and accommodation thoroughly before deciding to study in Australia.