MBA in Australia

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MBA in Australia

Australia is a diverse country and remains a foremost choice for international students who are aspiring for higher education abroad. Masters in Business Administration (MBA) is a preferable course among other master’s degree courses. It is pertinent to mention that Indians have found Australia as an ideal and sought-after country to study with more than 70,000 students enrolled in various universities every year. Through this blog, we analyze the scope for opting MBA in Australia.

Course Name  MBA 
Country  Australia 
Top Ranking University  Australian National University
Course Duration  15 months – 2 years.
Average Cost of Study  AUS $50,000 (INR 28.01 Lakhs)
GMAT/GRE Required 
IELTS/TOEFL Required 
Work Experience  Minimum of 2-4 years 
Visa Duration  Usually between 2 – 4 years
Top Career Options  Project Manager. Account Head, Business Developer, Business Analyst, Development Manager, Brand Manager, etc.
Average Salary  AUS $95,000 (inr 53.2 lakhs)

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Why Pursue an MBA in Australia?

An MBA degree equips students with the latest global trends in the business market and develops them into business professionals. Pursuing MBA in Australia will give more impetus to your career because of the country’s advanced growth and high-end educational institutions. This dynamic management field needs well-versed mentorship, practical exposure as well as theoretical knowledge with interactive classrooms. And we deem it wise to say that Australia fulfills all these relevant criteria. The Australian education system offers unmissable technology, high-end research centers, better career prospects that are praise-worthy and dream for every student. Amiable visa policies to study in Australia are equally playing a vital role in attracting international students. Completing an MBA or management education in Australia has a lot of advantages.

  1. When you study management in Australia, you will graduate with a high-quality, globally recognized qualification that will help you advance your career at home or anywhere in the globe. In Australia, there are over 75 globally recognized MBA programs, many of which have worldwide accreditation from the AACSB and EQUIS.
  2. Many Australian management and MBA courses allow overseas students to obtain experience by doing an internship with a local firm or by participating in an international exchange or study tour.
  3. Australian management and MBA programs give students a blend of practical and academic education, with an emphasis on improving communication, interpersonal, and leadership abilities. Courses in Australia promote creativity and independent thinking.
  4. Because of Australia’s multiculturalism, you will have the chance to study among students from a variety of cultures, providing you with a diverse cultural perspective on management. You will also get the opportunity to study in an atmosphere that combines Eastern and Western business and management approaches.

Check Out: How to Study MBBS in Australia?

Top Universities for MBA in Australia

In the Asia Pacific region, Australia has been recognized as the most sought-after country for an MBA degree. Take a quick look at the best universities for MBA in Australia for Indian students as per the QS Top Universities Rankings 2022:

Universities QS Top Universities Rankings 2022 Minimum GMAT Score Minimum Work Experience (in years)
Australian National University =27 600 5
The University of Melbourne 37 705 2
The University of Sydney 38 550 3
The University of Queensland 47 550 4
Monash University 58 550 3
University of New South Wales 43 650 2
The University of Adelaide 108 500 2
The University of Western Australia 93 650 2
University of Technology Sydney 133 550 4
The University of Newcastle 197 GMAT Score (Not Mandatory) 3

Also Read: Best MBA Colleges for MBA in Australia

MBA in Australia Eligibility Requirements

In order to apply for an MBA in Australia, you are required to qualify for certain eligibility requirements which mainly differ as per the course and university. Here are the basic eligibility prerequisites you must know before opting for an MBA program at an Australian university:

  • You must have completed a bachelor’s degree in any field from a recognized institution with the minimum marks specified by your chosen university.
  • Australian universities also require students to provide valid and competitive GMAT scores
  • English language proficiency score such as IELTS/TOEFL is also required to pursue MBA in Australia.
  • Work experience is not necessarily needed to apply for an MBA in Australia but rather preferred by top business schools for shortlisting the best candidates. Thus, having work experience of two-three years will surely prove beneficial in highlighting your profile from the rest of the candidates.

Note: The aforementioned eligibility requirements differ as per the MBA program and university. Thus, students are advised to go through the course details and requirements on the university’s official website.

Documents Required 

Enlisted below are some of the documents that can be asked from you by the Australian universities when applying for an MBA in Australia. Have a look:

  • Copy of past official transcripts and academic records 
  • MBA essays 
  • SOP
  • LORs
  • English Language Proficiency scores 
  • Application form (duly filled and signed)
  • Updated CV/Resume 
  • Passport-sized photographs 
  • Official student visa 
  • Loan papers (if applicable)

Must Read: SOP to Study in Australia

Top MBA Programs in Australia

While the General MBA is the most popular course to pursue in Australia, there are varied specialized MBA courses offered by varied universities that you can choose from. Some of the top specialized MBA programs in Australia are as follows:

Cost of Study for MBA in Australia 

The entire cost of an MBA program in Australia from leading business schools is between AUD 40,000 and AUD 63,000. For your convenience, we have produced a list of top institutions in Australia with average tuition fees for full-time MBA programs. Have a look:

Universities Full-time MBA Fees- Average (INR)
Australian National University 37 lakhs 
The University of Melbourne 45.5 lakhs 
The University of Sydney 49.3 lakhs 
The University of Queensland 41.2 lakhs 
Monash University 45 lakhs 
University of New South Wales 44.2 lakhs 
The University of Adelaide 41 lakhs 
The University of Western Australia 30.5 lakhs 
University of Technology Sydney 48 lakhs 
The University of Newcastle 25 lakhs 

To know more about the living and studying costs, check out the Cost of Studying in Australia!

Scholarships Available 

MBA students in Australia can apply for a variety of foreign scholarships. Some of the popular business schools and scholarships for overseas students in Australia are mentioned below:

Scholarships  Amount in AUD
MBA Scholarship for Outstanding Students BY UTS Business School 1849- 4624
MBA Student Scholarship by UQ Business School 25% tuition fee waiver
International Excellence Scholarship for India and South Asia Business and Law Scholarships by UON Faculty of Business and Law 11800- 55495
UOW Postgraduate Academic Excellence Scholarship by Sydney Business School 10% to 30% tuition fee
MBS Scholarship by Melbourne Business School Amount varies 
Kraft Heinz Scholarship by Melbourne Business Schoool 41549
AGSM Global Reach Scholarship and AGSM Excellence Scholarship by Australian Graduate School of Management Amount varies 
Monash MBA International Women in Leadership Scholarship by Monash Business School 22196
Adelaide MBA Scholarship by Adelaide Business School 25% of tuition fee
ANU College of Business and Economics India Excellence Scholarship by Australian National University  20 students are selected and are given an amount of 9247

Affordable MBA Options in Australia 

If you think that the cost of studying MBA in Australia is too high that is making a hole in your pockets then you may have to check out some of the affordable MBA options available in Australia. Enlisted below are the top universities that are offering budget-friendly and quality MBA programs to international students in Australia. 

Universities  Average 1-year Tuition Fee in AUD  Average 1-year Tuition Fee in INR (approx.)
Kaplan Business School 15,375 8.62 lakhs 
Holmes Institute 17,600 9.86 lakhs 
Charles Darwin University 20,560 11.5 lakhs 
Edith Cowan University 20,600 11.5 lakhs 
Victoria University 20,940 11.7 lakhs 
Central Queensland University 21,355 11.9 lakhs 
Federation University 21,400 11.9 lakhs 
University of Southern Queensland 21,500 12 lakhs 
Southern Cross University 21,904 12.2 lakhs 
James Cook University 22,500 12.6 lakhs

MBA in Australia Without GMAT

Do you know that you can actually pursue study MBA in Australia without GMAT? Many Australian universities and business schools recognize that the GMAT may not be the best predictor of an applicant’s aptitude for the MBA. This viewpoint is widely held in Australia, where candidates without GMAT results are accepted by a number of well-known, highly ranked colleges. We’ve compiled a list of such colleges for you to peruse below.

  1. Monash University
  2. RMIT University
  3. University of Technology Sydney (UTS)
  4. Macquarie University
  5. Deakin University
  6. Curtin University
  7. University of Adelaide
  8. University of South Australia
  9. University of Wollongong
  10. La Trobe University
  11. University of Newcastle
  12. University of Western Sydney

Student Visa to Study in Australia 

International candidates and students must have an Australian student visa in order to enter the country and complete their MBA courses or programs. You may do the same by paying 620 AUD (35,000 INR) via an online application and supplying the following papers when applying for a visa:

  • Valid passport 
  • Valid ID proof 
  • Acceptance/offer letter from a university in Australia
  • Health insurance details 
  • English language proficiency certificate and scores
  • Passport sized photographs (recent)
  • Application form (duly filled and signed)

Jobs after MBA in Australia

Since an MBA from Australia is globally recognized, you may apply for jobs anywhere in the globe as well as in Australia after completing your MBA degree. Following an MBA from Australia, students are typically given employment in mid-level managerial positions. Finance is Australia’s highest-paying industry, followed by technology and consulting. The table below shows the average yearly income paid to MBA graduates in Australia by industry:

Job Prospects  Average salary in AUD (annual) Average salary in INR (annual)
Accounting Manager 179,602 1 crore
Financial Manager 182,263 1.02 crore 
General Manager 143,682 80.61 lakhs 
Business Development Manager 147,673 82.8 lakhs 
Assistant BD Manager  126,919 71.2 lakhs 
Project Manager 118,404 66.4 lakhs 
HR Manager 106,431 59.7 lakhs 
Development Manager 123,726 69.4 lakhs 

Overview of Top 5 B-Schools in Australia (BONUS)

UTS Business School

Courtesy: University Technology Sydney

UTS Business School is a part of the University of Technology Sydney. It offers excellent and high-quality education in Management Studies. With its executive development program and MBA, the place is recognized internationally for its innovative research. Traditionally it has 5 academic disciplines – Accounting, Finance, Management, Marketing, and Economics preparing students for a world that demands more than specialist expertise. The curriculum incorporates a comprehensive, interdisciplinary approach to bring together knowledge from diverse fields. In order to set your feet in the university, you need to have proper documentation available which includes – your academic records, English proficiency score, and details of relevant work experience.

Melbourne Business School

Courtesy: The University of Melbourne

This graduate business school of The University of Melbourne offers dynamic education in Business Management along with training programs in leading multinational companies in the country. If you are planning to go for an MBA in Australia, Melbourne Business School has full-time, part-time, and executive MBA programs for students as well as working professionals. The school aims to impart advancing business knowledge, promote individual development and organizational capacity since 1955. To impress your examination committee, you should score 705 or above.

Australian National University

If you are planning to study in one of the top universities for an MBA in Australia, which is ranked 1st in the country and 24th in the world by QS Ranking 2019, then ANU is the place for you. Prior to learning, the university aims to build upon management experience. The MBA program provides students with essential business and administration knowledge and skill to grab a management position. With the aim to promote quality interaction among students and teachers, most management seminars and tutorials have around 20 and 50 students. In order to hold your seat in the Australian National University, you need to have a GMAT score of 600, a bachelor’s degree or international equivalent with a credit average GPA of 5.0 to 7.0, and a minimum of 5 years of work experience is highly preferred other than proof of English language proficiency.

Also Read: Master of Management in Australia

Central Queensland University

Courtesy: CQUni

It’s time to increase your understanding and the application of best-practice business and management knowledge to improve organizational effectiveness through pursuing Central Queensland University’s MBA program. With the aim to gain different perspectives and approaches to current and emerging business issues and needs, the program is available both full- and part-time. As an international student, you are required to have completed a bachelor’s degree or equivalent from a recognized higher education institution. If you are thinking of an MBA in Australia, develop your skills in areas such as operations management, finance and change management, people management, and strategy, and marketing now with CQUniversity!

University of New South Wales

Courtesy: UNSW Business School

The UNSW Business School offers an MBA which is an internationally recognized degree designed to develop management skills that will help students acquire jobs in the public sector, government, and private industry. The course can take full- or part-time and includes both core and elective subjects that allow you to follow your own interests. In order to pursue an MBA in Australia with the University of New South Wales, you should attain a GMAT score of more than 650 along with 2 years of work experience in a relevant sector.

FAQs

Is an MBA worth it in Australia?

According to MBA News Australia, the MBA market in Australia is valued at A$500 million, with 20,000 students now studying at more than 30 Australian institutions. In Australia, the typical MBA program costs around A$47,500.

How long is MBA in Australia?

A normal MBA program in Australia lasts 15 months to two years. However, numerous colleges also offer a one-year MBA program.

Is Australia cheaper than the UK?

While consumer prices (on average) are 12% lower in the UK, buying power is 16% lower (because of lower pay). In general, life is better in Australia.

Is MBA in demand in Australia?

According to the survey, MBA graduates from Australian institutions earn high wages due to strong demand for MBAs among multinational businesses across Asia and the success of Australian business schools in recruiting and placing Asian applicants throughout the region.’

Is it easy to get a job in Australia after MBA?

Australia offers a solid employment market for competent MBA professionals, aided by internship programs and placement abilities. According to the most recent placement statistics, The Melbourne Business School has an 88 percent placement rate. The Australian Graduate School of Management (AGSM) has a 69 percent placement rate.

Are you confused about the right university to pursue an MBA in Australia? Don’t worry, our experts at Leverage Edu can help you choose the right destination that matches your profile and interest. You can also follow us on Instagram, Twitter, Facebook, LinkedIn, and YouTube & can also subscribe to our newsletter for more regular updates.

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