MBA In Australia – All you need to know

MBA In Australia – All you need to know

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Australia has the top 8 universities in the world. An increasing number of international students opt for Australia as a study abroad destination for its world-class education, post-study work opportunities, and excellent quality of living. Out of 43 universities in Australia, seven are known for offering the best MBA programs.

MBA in Australia is a one-year (full-time) professional degree available in more than 50 universities across the country. The tuition fees for MBA in Australia in Indian rupees go up to around 45 Lakhs. However, one can limit the expense with scholarships for MBA in Australia. There are fully funded as well as partial funded scholarships available both by the government and the universities. Besides this, Australia’s cost of living is much affordable than the UK or the USA. Accounting and Finance is one of the highest paying disciplines of MBA, with an average annual pay of 61,229 USD in Australia.

Why MBA in Australia?

Good Quality education, high-end research opportunities, and excellent career prospects make Australia is a favourite study destination for MBA aspirants. The universities in Australia are internationally recognised and offer courses in the most preferred language, i.e. English. Management courses in these universities focus on imparting leadership qualities and giving a real-world experience of the business schools in Australia ranked among the top 100 business schools globally, as per QS Global MBA Ranking 2021. Australia has been included in the list of top countries at 5th place for MBA salaries in 2020 by QS News.

In most universities, the duration of the MBA programme is two years. The period for an MBA in most universities in Australia is between 15 months to 2 years. Apart from this, many universities have started offering one-year MBA programmes, like Melbourne Business School has begun a one-year MBA program that is highly popular among aspirants.

Eligibility criteria

  • You must have 55-65% in your bachelor’s degree.
  • Good IELTS score may vary according to the universities.
  • Having 2-3 years of prior work experience is essential to get into an MBA program at top b-schools in Australia.
  • GMAT, GRE scores.
  • At least two reference letters from the previous employer or professors
  • Interview, conducted face-to-face, over a video call, or on the phone.

According to the universities, these criteria can change as each university has its own set of rules and criteria.

Fees Of MBA Abroad – Countrywise List

Top Business Schools for MBA in Australia

Thirteen business schools of Australian universities were included in the top 250 business colleges worldwide by QS News Global MBA Ranking. Below mentioned are the top 10 of them and their complete fee for the full-time MBA program

SchoolParent UniversityFull-time MBA Fees
La Trobe Business SchoolLa Trobe University41,451 USD
RMIT University School of BusinessRMIT University59,393 USD
Deakin Business SchoolDeakin University43,514 USD
ANU College of Business and EconomicsAustralian National University49,911 USD
UQ Business School University of Queensland56,157 USD
UWA Business SchoolUniversity of Western Australia41,488 USD
Macquarie Graduate School of ManagementMacquarie University54,993 USD
Monash Business SchoolMonash University61,156 USD
AGSM Business SchoolUniversity of New South Wales60,043 USD
Melbourne Business SchoolUniversity of Melbourne62,198 USD

International students can also pursue an online MBA at popular business schools in Australia- RMIT, Victoria University, James Cook University, and Southern Cross University.

Pursue MBA Abroad

Admissions to MBA in Australia

Business schools offer admission based on the grades in an undergraduate degree, relevant work experience, and an interview conducted by the business school faculty.

To get admissions with Australian universities, you will need the basic Eligibility criteria. If there are some there, criteria required the along with that submit the required documents and submit the relevant application fees.

To apply for an MBA in Australia, first, you have to select your institute that you wish to apply for. The next step is to check the eligibility requirements of your chosen institution.

Then you need to upload the required documents.

  • GMAT/ Test Score
  • English test scores of TOEFL/IELTS depending on which the institute demands
  • Mark-sheet/ Scorecard for bachelor’s degree
  • Copy of Passport
  • Letter of Recommendation (minimum two)
  • CV/Resume

English Proficiency Requirement

Suppose you come from a nation where English isn’t your native language. In that case, you are required to submit IELTS scores .this score demonstrated your proficiency in the English language as the curriculum of Australian universities is entirely in English. Students having IELTS scores of approx 6.5 to 7.0 can quickly get admission into the popular schools offering an MBA in Australia.

Australian Student Visa

International applicants are required to have an Australian student visa to get into the country. You can do the same by paying online application fees of 620 AUD (35,000 INR) and submitting the following documents when making your visa applications.

  • Valid passport
  • Proof of ID
  • Acceptance letter from the university/college
  • OSHC health insurance
  • Bank statement with proof of sufficient funds (~62,222 AUD per year)
  • English language proficiency scores like TOEFL, IELTS etc.
  • Statement of Purpose or GTE
  • Four recent passport size photograph

Students might have to appear for a possible health checkup and visa interview depending upon their current location.

MBA in Australia – expense

Your expense starts when you apply for a visa, then while applying for an MBA degree, then once you arrive in Australia, their expenses of studies such as tuition fees, books, transportation, and accommodation costs.

The total program cost of an MBA in Australia from top business schools is approximately 40,000 USD to 63,000 USD. UWA and La Trobe Business School have the lowest fee, and Melbourne Business School has the highest cost for MBA in Australia among top-ranking institutes.

Besides these, all will be a general living expense. The overall expenditure, including hostel and meals, transportation, other course-related and personal costs and insurance, will cost approximately AUD 20,700. However, the range can differ based on the lifestyle of an individual and place of living).

MBA Scholarship in Australia

A few of the scholarships for MBA in Australia for international students are as follows.

School/College  Scholarships Offered  Amount
ANUANU College of Business and Economics India Excellence Scholarship20 students are given an amount of 6,949 USD
UTS Business SchoolMBA Scholarship for Outstanding Students (Commencing and Current)1,390 USD to 3,475 USD
UQ Business School MBA Student Scholarship 25% tuition fee waiver
UON Faculty of Business and LawInternational Excellence Scholarship (India); South Asia Business and Law Scholarships  8,867 USD to 41,700 USD
Sydney Business School    UOW Postgraduate Academic Excellence Scholarship10% to 30% tuition fee
Melbourne Business School       MBS Scholarships    Varies
Monash Business School Monash MBA International Women in Leadership Scholarship16,679 USD
Australian Graduate School of ManagementAGSM Global Reach Scholarship and AGSM Excellence ScholarshipVaries
Melbourne Business School Kraft Heinz Scholarship 31,221 USD

Jobs after MBA in Australia

MBA graduates are amongst the best paid in the world. Students are generally offered positions in managerial roles after MBA. Finance is the highest paid industries in the world, with the annual salary of an MBA graduate being 97,100 USD (average), followed by technology and consulting.

Global Excellence Scholarship 2022 – Australia

Top industries offering MBA jobs

  • Financial Services
  • IT/Computer Services
  • Consulting/Professional Services
  • Education
  • Manufacturing/Engineering

Top Paying Sectors for MBA in Australia

Some of the popular job roles to look out for after completing your MBA in Australia are listed below.

Job Roles                                Average Salary in USD (annual)
Organizational Development Manager93,000
Employee Relations Manager   80,000
Project Manager 89,000
Financial Manager         135,000
Accounting Manager135,000
Manager  122,000
Assistant BD Manager  95,400
General Manager 108,000
Business Development Manager                                      111,000