Are you planning to improve your managerial and leadership skills? Want to get global exposure and practical experience in business administration or just wanting to brush up your core proficiency in management and entrepreneurship areas? Then think of an MBA in Australia.
This article talks about everything you need to pursue your professional Master’s degree from one of the top MBA colleges in Australia and much more.
Why study in Australia?
According to Times Higher Education, Australian Universities are ranked under the top 100 in the World University Rankings 2020. No wonder as many of 6, 26,052 international students have decided to study in these top Australian universities. Let’s take a look at some of the many reasons why you should study in Australia:
- Globally recognized universities: The Australian universities have been ranked by the QS World University Rankings that have been one of the major factors in attracting students all over the world.
Students pursuing a Bachelor’s or a Master’s degree from any Australian University stand equivalent to other world ranking universities, giving them global exposure and practical experience to excel in their professions.
- High-quality educational system: The Australian education system is one of the most recognized education systems worldwide. The Australian Universities offer exceptional educational delivery, program structure, and curriculum with advanced educational infrastructure, making it one of the top reasons for the ultimate education destination for international students.
- Work Visa: Australian universities make it easier for international students to apply for and get a work visa as students prefer to stay back after they have completed their studies and gain some years of work experience in Australia.
- Earn while you study & financial aid: Most Australian Universities give an additional ‘earn and learn’ arrangement for international students. This helps students in additional and extra earning potential and funding their total cost of living in Australia. Moreover, students can avail scholarships provided by many Australian universities as part of their financial aid to international students.
- Career Opportunities: As per industry statistics, students with an Australian degree are making a place in top managerial positions at many international corporations. MBA in Australia for Indian students open doors for a plethora of job opportunities at the various executive and managerial levels.
Why study MBA?
One of the most significant questions before you go for an MBA degree is that should you study for an MBA? And if yes, then MBA in which major/ specialization and from which college or university? Your selection should aim to find the MBA or PGDM course which fits with your skills, aptitudes, knowledge, and your career plan.
Many students confuse their career goals and aspirations by choosing a degree that isn’t fit for them or that which doesn’t help them grow. These confusions usually surface when the student lacks awareness about a particular program/ degree/ course. Take a look at the following image to know why you should study an MBA:
How to select the right course?
Now that you must have been quite convinced that an MBA degree can add immense value to your career goals, however, picking the right major/ specialization could still be a tricky part of the process. Let’s take a look at some important points to consider while choosing the right course:
Selecting which course to major in is in itself a big feat, as you have to consider not only the course you are interested in but also the university, the location, what would be the cost of the course how much would it cost to live in the desired location, and the long list of making the right choice goes on.
So taking help from expert counselors goes a long way as you get to know more about your career choices. Look at how you can make an informed career choice.
List of MBA colleges in Australia
MBA in Australia is one of the most sought after Master’s degree program for students worldwide. So let’s take a look at the detailed list of MBA colleges in Australia:
- Australian Graduate School of Management – University of New South Wales
- Australian Catholic University Faculty of Arts and Sciences (Schools of Business)
- Charles Sturt University Faculty of Business – Charles Sturt University
- AIM Business School – Australian Institute of Management Education and Training
- Kaplan Business School
- Macleay College
- Macquarie University Faculty of Business and Economics
- Newcastle Graduate School of Business – University of Newcastle
- S P Jain School of Global Management
- Southern Cross Business School – Southern Cross University
- Sydney Business School – University of Wollongong
- University of Newcastle Faculty of Business and Law
- University of Sydney Business School – University of Sydney
- UTS Business School – University of Technology
- University of Western Sydney Business School
- University of Western Sydney College of Business – University of Western Sydney
- University of Wollongong Faculty of Commerce
- Chifley Business School
- Deakin Business School
- La Trobe University Faculty of Law and Management (School of Business)
- Melbourne Business School – University of Melbourne
- Monash Faculty of Business and Economics – Monash University
- RMIT University College of Business
- Swinburne Business School – Swinburne University
- University of Ballarat School of Business
- Victoria University Faculty of Business and Law – Victoria University
- Bond University School of Business
- Brisbane Graduate School of Business – Queensland University of Technology
- Griffith Business School – Griffith University
- James Cook University School of Business
- Rhodes Business School
- University of the Sunshine Coast Faculty of Business
- UQ Business School – University of Queensland
- Curtin Business School – Curtin University of Technology
- Edith Cowan University Faculty of Business and Law
- Murdoch Business School – Murdoch University
- University of Notre Dame Business School
- UWA Business School – University of Western Australia
- Flinders Business School – Flinders University
- University of Adelaide Business School – University of Adelaide
- Tasmanian School of Business and Economics – University of Tasmania
- ANU College of Business and Economics – Australian National University
- University of Canberra School of Business and Government
- Charles Darwin University School of Law and Business
Eligibility for MBA in Australia
To apply for an MBA in Australia, applicants must take a look at the eligibility requirements of the designated college/ university before applying for admission. As most colleges/ universities have slightly different eligibility criteria, look at the following most generally accepted criteria for admission to MBA colleges in Australia:
- Bachelor’s degree: Candidates applying for an MBA degree in Australian business schools must have a graduate degree in any discipline. Although in some Australian Universities, the candidates either having a Bachelor’s degree with work experience or a degree plus GMAT scores (550+) are also eligible.
- Professional Work-experience: To be eligible, most MBA colleges in Australia require prior professional work experience of minimum one or more years.
- Good GMAT/GRE score: Universities, institutes, business schools in Australia require a good score in GMAT/ GRE. Applicants have to send the scores (GMAT/GRE) directly from the testing service organization by using the codes given on the official website of the designated college/ university or as specified by the institution.
- English Proficiency: Applicants must be able to speak and understand fluently in the English language. To submit proof of English language proficiency, applicants must demonstrate their proficiency by submitting scores from one of the following:
- IELTS (Academic): a minimum overall band of 6.5
- TOEFL (Internet Based Test – IBT): minimum overall score of 79
- Pearson Test of English (Academic): minimum score of 58
- Cambridge English: Advanced (CAE): minimum of 176, the sum of all components.
- Applicants must refer to the specific guidelines mentioned on the official website of the designated institute/ university for information regarding minimum test scores and other eligibility criteria for admission to an MBA in Australia.
How to apply for MBA in Australia?
Candidates applying for an MBA in Australia can do so by two methods: Apply directly at the website of designated college/ university or via an Australian education agent.
- Applying directly: While applying directly, the candidate is required to download or fill the online application form on the official website of the designated institution. In case the candidate is applying for an MBA program at more than one institution, then he/ she will need to submit a separate application to each institution.
- Through an Australian education agent: Applying for admission to MBA in Australia can be an overwhelming process for international students. Therefore, many colleges/ universities partner with education agents. Candidate can take help from these agents in applying for a particular college by contacting them directly from the designated college website.
- Letter of Offer: After the application has been received by the college, the candidate receives a letter of offer affirming the confirmation of the application. This letter of offer acts as a contract between the candidate and the institution, affirming the course you enrolled in, other enrollment conditions, the overall fees that need to be paid, and other details.
- The candidate has to confirm the offer by signing and sending the acceptance back to the institution which is usually done via mail.
- Enrolment confirmed: After the candidate has confirmed the letter of offer and paid the deposit, the candidate will receive an ‘Electronic Confirmation of Enrolment’ (eCoE) by email. This enrolment outlines the start date of the program/ course chosen, the total fee of the course, and the course duration.
- Visa Application: The candidates will then have to apply for Student Visa for which they will need the details of your electronic confirmation of Enrolment to lodge Visa application.
- Candidates must make sure that they fulfill all the visa application requirements before they accept the offer and pay tuition fees for an MBA in Australia.
How to apply for Student Visa?
Students wanting to pursue an MBA in Australia must acquire Student Visa to be able to pursue a course/ program of choice. Take a look at the following points:
- For candidates looking for studying full-time MBA in Australia must apply for the Student visa (subclass 500).
- Create ImmiAccount: To apply for the student visa, the candidates or the education agents are needed to create an ImmiAccount and register online. (ImmiAccount is an immigration account that is created for applying for an Australian Visa.)
- Submit application: After successfully registering online, the candidates must proceed further by starting an application and uploading the necessary documentation.
- Fulfill the eligibility requirements: The candidates must meet all the requirements to be eligible for an Australian student visa by submitting the proof with documentation and certificates.
- Wait for the Visa outcome: The officials from the Home Affairs would inform the candidates about their visa application grant number, visa expiration date, and the other visa conditions as and when the process is completed by the candidate.
- Refer to the official website of the Australian Government for more information about student visas.
Best MBA colleges in Australia
According to QS World University Rankings, top business schools for MBA in Australia are:
- Melbourne Business School
- UNSW (AGSM)
- Monash Business School
- The University of Queensland
- Macquarie Business School
- The Australian National University
- RMIT University
- University of Technology Sydney
- The University of Sydney
- Deakin University
List of Specializations/ Majors in MBA from Australia
Many Australian Business schools offer Full-time, Part-time, executive, and other professional MBA programs. Take a look at some of the specializations for an MBA in Australia:
- International Business
- Artificial Intelligence for Business
- Strategy & Leadership
- Human Resource Management
- Information Technology
- Entrepreneurship and Innovation
- Operations Management
- Global Trade
- Arts and Cultural Industries
- Tourism Management
- Maritime Management
- Corporate Administration
- Hospitality Management
- International Marketing
- Investment Banking
- Strategic Management
- Urban Estate Management
- Public Administration
- Logistics and Supply Change Management
- Accounting and Commerce
- Corporate Governance
- Facility Management
- Public Relations
- Project Management
- Engineering Management
- Health Services Management
MBA in Australia: Tuition Fees, Cost of Living and other expenses
- One of the major factors that influence an international student’s decision of studying MBA in Australia is the tuition fees, the cost of living, and other expenses while they stay abroad. New South Wales, Queensland, Western Australia, Southern Australia, and other states will cost the student accordingly.
- The cost of living varies greatly depending on the candidate’s lifestyle, budget, and spending habits, but the estimated costs below will give the students a general idea of all the costs.
- The admission process for an MBA in Australia for Indian Students could get overwhelming as there are several factors to look after before taking a final step. So let us take a look at the tuition fee and course duration of some of the MBA colleges in Australia:
|Name of Business School||Tuition fee||Course Duration|
|Melbourne Business School||$89,500 AUD||1-2 years|
|UNSW (AGSM)||$86,400 AUD||16 months|
|Monash Business School||$88,000 AUD||2 years|
|The University of Queensland||$80,808 AUD||1 year|
|Macquarie Business School||$80,000 AUD||2 years|
|The Australian National University||$63,600 AUD||1.5 years|
|RMIT University||$86,400 AUD||2 years|
|University of Technology Sydney||$62,784 AUD||2 years|
|The University of Sydney||$98, 000 AUD||18 months|
|Deakin University||$79, 800 AUD||2 years|
What is the cost of living in Australia?
One of the most important factors in determining the cost of living and other expenses for an MBA in Australia for Indian Students depends on the state in which the student will reside. The accommodation, travel and cost expense are usually different for different states and thus a general idea of what the approximate costs would be is given below:
Top Scholarships: MBA in Australia for Indian Students
While pursuing an MBA from the best college in Australia is a dream for many international students, many students also look for various scholarships and financial aid these MBA colleges in Australia offer. Take a look at the following colleges/ universities offering MBA scholarships for international students:
- Melbourne Business School
- Monash Business School
- The University of Queensland
- University of Western Australia
- UNSW Business School
Job opportunities after MBA from Australia
International students pursuing their MBA in Australia can expect various job opportunities in their choice of field/ specialization. To know what the job opportunities available are for MBA graduates in Australia, let’s first take a look at the latest job profiles/roles most MBA find work in:
- Business Analyst
- Executive Assistant
- Human Resources Generalist (Executive)
- Investment analyst
- Operations Leader
- Senior Product Manager
- Forecasting Manager
- Sourcing Specialist
- Business Development Strategist
- Marketing Strategist and Innovation Director
- Project Manager
- Investment analyst
- Business leader
- Senior government leader
- Not-for-profit manager
- Venture capitalist
- Executive roles in accounting, finance, marketing, sales, and communications, amongst others
In the above article, we discussed an MBA in Australia, the eligibility criteria for an MBA in Australia for Indian students, tuition fees, cost of living, and other expenses in detail. Although studying abroad is a dream for many students it is equally important for students to be informed of everything that it takes to pursue higher education in Australia.
Therefore, in case you still have doubts or want career guidance before taking any final decision, you must consult career counselors and take the first step towards choosing your perfect career!
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Shruti Verma is a researcher and analyst in the areas of careers, industries, and education. She has completed her Masters in English Literature and is an alumnus of Delhi University and IP University. She interned during her masters at iDreamCareer and later joined iDC full-time as a Content Analyst. She is determined to secure an expert position in content space with the guidance of experienced mentors within the iDC team.