MBA in Australia
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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.
|Top Ranking University||Australian National University|
|Course Duration||15 months – 2 years.|
|Average Cost of Study||AUS $50,000 (INR 28.01 Lakhs)|
|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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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|
|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
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.
- 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.
- 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.
- 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.
- 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?
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.
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
- 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:
- MBA in Accounting and Finance
- MBA in Sports Management
- MBA in Event Management
- MBA in HR
- MBA in Hospitality Management
- MBA in Information Technology
- MBA in International Business
- MBA in Entrepreneurship
MBA in Australia Course Duration
Most Australian universities and b-schools offer MBA programs that last between 15 months and 2 years. Aside from that, several universities have begun to provide 1-year MBA programs as well which we will be discussing in the later section of the blog. Let’s look at the course duration of full-time MBA programs of some of the top universities in Australia.
|Australian National University||1.5 years|
|The University of Melbourne||16 months|
|The University of Sydney||18 months|
|The University of Queensland||1 year|
|Monash University||2 years|
|University of New South Wales||2 years|
|The University of Adelaide||18 months|
|The University of Western Australia||16 months|
|University of Technology Sydney||2 years|
|The University of Newcastle||1.5 years|
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!
Cost of Living for Students in Australia
Aside from the tuition cost for the course, there are other conditions that must be met. The total monthly cost will range between A$ 5,000 to 10,000 (INR 2,73,469- INR 5,46,938), including lodging and food expenditures, transportation, additional course-related and personal expenses, and insurance. Take a look at the breakdown of average living expenses on a weekly basis for international students in Australia:
|Cost Type||Average Expense per Week (in AUD$)||Average Expense per Week (in INR)|
|Accommodation||100 – 300||5350 -16080|
|Recreation||80– 150||4287 – 8038|
|Course-related expenditure||15– 20||803 – 1072|
|Food/Groceries||140 – 280||7500– 5000|
|Utilities||10– 20||536 – 1072|
|Transportation||30– 60||1600 – 3215|
Note: The aforementioned expenses and costs are only indicative and average estimates. These costs can vary as per the city, university as well as course and other related factors. You can check your cost of living in Australia as an international student with help of our amazing Cost of Living Calculator!
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 (INR 101128- INR 252904)|
|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 (INR 645387- INR 3035235)|
|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 (INR 2272474)|
|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 (INR 1213984)|
|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 (INR 505754)|
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 Work Experience
MBA in Australia without work experience allows students to pursue an MBA degree without having any prior work experience. Australia, with its amazing educational structure and a quality system that ensures the simple best, is exceptional and well-liked by students from all over the world. Some top Australian universities let students with little or no work experience into their MBA programs. A list of all such schools and universities that offer MBA in Australia without work experience is given below:
|Universities||Duration of the Course|
|Monash University||2 years|
|Bond University||1 year|
|Macquarie University||1 Year|
|University of Tasmania||1.7 years|
|University of Canberra||2 years|
|Australian National University||1.5 years|
|University of Western Australia||16 months|
|University of Technology, Sydney||2 years|
|Central Queensland University||1-2 years|
|The University of Melbourne||16 months|
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.
- Monash University
- RMIT University
- University of Technology Sydney (UTS)
- Macquarie University
- Deakin University
- Curtin University
- University of Adelaide
- University of South Australia
- University of Wollongong
- La Trobe University
- University of Newcastle
- 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)
Work Visa Post MBA in Australia
International students who have just graduated from an Australian university are eligible for this visa. After finishing their MBA studies, the students are allowed to reside, work, and study in Australia for a limited time. As a primary candidate, students can only get a Temporary Graduate visa (SUBCLASS 485) once. This Temporary Graduate visa is divided into two categories:
- The Graduate Work stream
- The Post-Study Work stream
The primary applicant covered by the application must be present in Australia both while applying for a visa and when his or her visa is decided. Further, the qualification of the applicant must correspond to an occupation included on the occupation skilled list for receiving the Graduate Work stream visa. The visa holder in this category is permitted to stay for a duration of 18 months. Aside from that, the applicant’s criterion for obtaining the Post-Study Work stream visa must be a higher education degree. The visa holder in this category is permitted to stay for 2 to 4 years.
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
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
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
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
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.
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.
A normal MBA program in Australia lasts 15 months to two years. However, numerous colleges also offer a one-year MBA program.
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.
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.’
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.