Australia is a popular destination for students wanting to study abroad. The QS rankings consistently place it among the top 5 destinations for international MBA candidates.
This article is for you if you want to obtain an Australian MBA. You’ll learn about the average tuition, length of course, eligibility criteria and other general information you’ll need to submit to apply to an MBA program in Australia.
More than 60 institutes in Australia offer one and two-year MBA degree programs.
The average cost of MBA in Australian universities is between 40,000 USD to 65,000 USD. when calculated in Indian rupees, the tuition is approximately 45 Lakhs. But various scholarships available to study in Australia will lower the ‘sticker price’ substantially. For example, the Australian government offers many scholarships that will cover up to 100% of the tuition. This makes higher education in Australia much more affordable.
Applicants must score at least 55-65% in their Bachelors degree to be accepted into business schools in Australia. They must also have a high IELTS score -equivalent tests are acceptable. Candidates must also have at least 2-3 years of work experience for Australia’s top B-schools to accept them.
Candidates usually need to have a high GMAT score. However, some institutions make an exception. Some of these are Monash, Macquarie, Deakin, and LaTrobe University. These are just some of the most reputable Australian business schools accepting students into MBA courses without GMAT in Australia.
An Australian MBA degree will take a graduate places. The constantly rising demand for managers ensures this. A freshly minted Australian MBA graduate can command a median salary package of around 98,400 USD (72.2 Lakhs INR.) Two of the highest paying MBA specializations are Accounting and Finance. These pay approximately 61,229 USD.
Most Australian universities offer a 2-year MBA program. Most MBA students will spend between 15 months to 2 years studying. Many universities are being innovative by offering 1-year MBA degree programs. A good example is the very popular Melbourne Business School.
|B-Schools||Duration of the course|
|Macquarie University||12 Months|
|Bond University||12 Months|
|Melbourne Business School||16 months|
|University of Western Australia||16 months|
|Australian National University||18 Months|
|University of Tasmania||19 Months|
|Central Queensland University||12-24 Months|
|University of Technology, Sydney||24 Months|
|University of Canberra||24 Months|
|Monash University||24 Months|
Ques: Is an Australian MBA degree worth it?
Ans: 3 Australian business schools consistently rank among the top 100 global business schools. The average tuition there is as much as 60,000 USD. however, the average annual starting salary is 97,100 USD. Therefore, international students should definitely study in Australia.
Ques: how much does studying for an MBA degree cost in Australia?
Ans: Australia’s top universities tend to charge tuition that’s between 40,000 USD and 60,000 USD. International students will spend approximately 14,432 USD on living expenses.
Ques: which universities offer the best MBA programs in Australia?
Ans: The University of Melbourne, University of New South Washington, Monash University, Macquarie University, and the University of Western Australia have some of the best MBA programs in Australia.
Ques: Do students need to have work experience to apply to Australian MBA programs?
Ans: Most Australian universities require students to have at least two years of management or business work experience to apply.
Ques: how long does it take to finish a full-time Australian MBA degree program?
Ans: Most Australian MBA degree programs take between one and a half to two years to finish. However, a growing number of universities are offering accelerated one year MBA programs.
Ques: Does a candidate need a GMAT score to apply to an Australian MBA program?
Ans: Most Australian universities require a GMAT score for admission. However, a growing number don’t. Some of these universities include Monash, Macquarie, Deakin, and LaTroupe. Additionally, a growing number of universities are allowing students to substitute the GRE for the GMAT.
Ques: How much does someone with an MBA degree earn in Australia?
Ans: The average Australian MBA graduate will earn approximately 98,400 USD a year. A newly minted Accounting or Finance graduate can command an annual starting salary as high as 60,000 USD.
Ques: What jobs can MBA graduates find in Australia?
Ans: Graduates can find jobs in the Accounting, General Management, Marketing Management, Operations Management, Program Management, Business Development Executive fields, etc…
Why obtain an MBA degree in Australia
There are many reasons to study in Australia. Some of these are:
- Multicultural society
- International student friendly Visa policies
- Numerous scholarship opportunities
- Internationally accredited programs
How many hours can international students work on an Australian student visa?
Student visa holders can work as much as 40 hours every two weeks
What is the average salary for an Australian MBA graduate?
A graduate from the top Australian MBA programs can expect to earn approximately 111,400 USD.
Do Australian business schools accept GMAT scores?
Most Australian business schools accept GMAT scores
What is considered to be a good GMAT score for an Australian business school?
The top 5 Australian universities require a GMAT score of at least 600 to 695 for admittance.
Why an MBA in Australia?
Australia has witnessed an overall increase in international enrolment of 11% between 2018-19. This has ranked Australia the third most popular destination for international students after the UK and the USA, by UNESCO. The increase in enrolment includes an 8% rise in application from China and 27% from India.
Also, a survey organized by the government of Australia is 2018 indicates that 89% of overall satisfaction amongst the foreign students in Australia. Moreover, the report mentions that 98% of the international students were content with the quality of teaching, out of which 94% decided to pursue education in Australia due to the reputation of the education provider.
Australia provides several grants and scholarships to aid international students financially, apart from the brilliant education system and supreme teaching. Australia Awards, Destination Award, Australian Government research training are a few among the major scholarship programs available in Australia.
- Among the top 100 business schools in the world, 5 of Australia’s top business schools have secured position, according to business schools in Australia have been ranked, as per QS Global MBA Ranking 2021.
- Globally prestigious agencies, namely EQUIS, AACSB, and AMBA have accredited the top business schools for MBA in Australia.
- QS News has included Australia in the list of top countries for MBA salaries in2020. With average salaries of 98,400 USD more than countries like the UK 92,400), Japan (80,000), and Germany (77,200).
Top Business Schools
Best Business Schools for MBA in Australia
QS News Global MBA Ranking has included 13 business schools of Australian universities in their list of top 250 business colleges around the world.
Given below is a table containing the lists of the top 10 along with their rankings and fee of the full-time MBA program:
|Full-time MBA – Business School||Parent University||Fees|
|La Trobe Business School||La Trobe University||41,451 USD|
|UWA Business School||University of Western Australia||41,488 USD|
|Deakin Business School||Deakin University||43,514 USD|
|ANU College of Business & Economics||Australian National University||49,911 USD|
|Macquarie Graduate School of Management||Macquarie University||54,993 USD|
|UQ Business School||University of Queensland||56,157 USD|
|RMIT University School of Business||RMIT University||59,393 USD|
|AGSM Business School||University of New South Wales||60,043 USD|
|Monash Business School||Monash University||61,156 USD|
|Melbourne Business School||University of Melbourne||62,198 USD|
Some of Australia’s most popular business schools for international students include RMIT, Victoria University, James Cook University, and Southern Cross University.
Australia’s Top 10 Online MBA Programs
In the recent weeks, as most employees seek to improve skills to prepare for the post-Covid economy, the demand for online learning has witnessed an upsurge. Several online MBA programs in Australia have already recorded a hike in applications.
The official 2020 enrollment data will not be released until next year, meanwhile the new statistics from Federal Government’s Department of Education rolled out the top 10 online MBA programs from 2018 with respect to number of students. The top 10 MBA programs are listed below in the reverse order.
SP Jain School of Global Management
Duration: 18 monthsTotal
Students Enrolled (2018): 386 (797 total MBA students)
Affordable MBA Programs
Cheap MBA Options In Australia
Are you in search of cheap MBA options in Australia? Maybe you desire to study abroad, but you worry about the costs. The good news is you can study MBA abroad due to the low cost of living in Australia.
Besides, the tuition fees in Australia are much lesser than most business schools globally. We present a list of 12 MBA Colleges in Australia that provide a pleasant learning experience without causing a hole in your pockets.
|S.No||Name of College/ University||First Year Tuition Fee in INR*||First Year Tuition Fee in AUS$|
|1||Kaplan Business School||7,39,383.75||15,375.00|
|3||Charles Darwin University||9,88,730.40||20,560.00|
|4||Edith Cowan University||9,90,654.00||20,600.00|
|6||Central Queensland University||10,26,961.95||21,355.00|
|9||University of Southern Queensland||10,34,896.80||21,520.00|
|10||Southern Cross University||10,53,363.36||21,904.00|
|11||University of Sunshine Coast||10,57,980.00||22,000.00|
|12||James Cook University||10,82,025.00||22,500.00|
*Calculated done upon considering the rate of AUS$ 1 = INR 48.09
You can take your time checking out the colleges, the different kinds of programs they offer, and their fees. You can also verify the MBA colleges in Australia that do not require a GMAT score during admission.
With so many options, you will want to narrow down your search to the best universities in Australia. That is because you need a college that provides the right education and the proper learning environment.
Jobs & Salaries
Jobs after MBA in Australia
Upon completion of your MBA in Australia, you can get placed in any job sector. The finance area is booming as they offer $97,100, and job roles come with staggering growth. The technology and consulting areas pay well too.
The below table offers you details about the average annual salary given to MBA graduates worldwide.
|Top Paying Sectors after MBA in Australia|
|Average salary in USD (annual)||Industry|
We have provided you with some of the best job roles once you have done your MBA in Australia below:
|Job Roles||Average Salary in USD (annual)|
|Business Development Manager||111,000|
|Assistant BD Manager||95,400|
|Employee Relations Manager||80,000|
|Organizational Development Manager||93,000|
ROI of Top Business School for MBA in Australia
|School||Salary of MBA Graduates (USD)||Full-time MBA Fees (USD)|
|Melbourne Business School||125,000||62,198|
|AGSM Business School||2,13,000||60,043|
|Monash Business School||135,00||61,156|
|Macquarie Graduate School of Management||1,47,000||54,993|
|UWA Business School||1,39,000||41,488|
|UQ Business School||2,03,000||56,157|
|ANU College of Business & Economics||99,000||49,911|
|Deakin Business School||1,33,000||43,514|
Cost of Studying MBA in Australia
The cost of studying MBA in Australia is quite low. Typically, you have two kinds of expenses to deal with when getting admitted for an MBA in Australia.
- Pre-arrival cost: The pre-arrival cost involves the fee for most of your documentation.
- Post-arrival cost: The post-arrival cost refers to your tuition fees, supplies, transport, stay, and food.
To study in Australia, you have to incur expenses related to your documents. Some of them include the registration fee for your required test scores, the student visa fee, your application fee, and so on.
Given below is an estimate of the costs:
|Type of Expense||Cost (USD)|
|Australian Student Visa Fee||426|
|Application Fee||100 (approx)|
|TOEFL (iBT) Registration Fee||160- 250|
|IELTS Registration Fee||215- 240|
The projected fees in a business school in Australia are between $40,000 to $63,000. Among the top-ranked universities in Australia, the UWA and La Trobe Business School charge the lowest fee, while Melbourne Business School charges the highest fees.
MBA in Australia with Scholarships
Are you interested in pursuing an MBA in Australia with a scholarship? If then, you need to check out the popular international scholarships in Australia.
We have provided below a list of leading business-schools and the scholarships for international students:
|Melbourne Business Schoool||31,221 USD||Kraft Heinz Scholarship|
|ANU||20 students are given an amount of 6,949 USD||ANU College of Business and Economics India Excellence Scholarship|
|Melbourne Business School||Varies||MBS Scholarships|
|Monash Business School||16,679 USD||Monash MBA International Women in Leadership Scholarship|
|Australian Graduate School of Management||Varies||AGSM Global Reach Scholarship and AGSM Excellence Scholarship|
|Sydney Business School||10% to 30% tuition fee||UOW Postgraduate Academic Excellence Scholarship|
|UWA Business School||100% tuition fee||MBA (Intensive) International Prestige Scholarships|
|UON Faculty of Business and Law||8,867 USD to 41,700 USD||International Excellence Scholarship (India); South Asia Business and Law Scholarships|
|Adelaide Business School||25% of tuition fee||Adelaide MBA Scholarship|
|UTS Business School||1,390 USD to 3,475 USD||MBA Scholarship for Outstanding Students (Commencing and Current)|
|Macquarie Graduate School of Management||Tuition fee waiver||Macquarie University India Scholarship; Vice-Chancellor’s International Scholarship – St. Xavier’s College, Kolkata;|
|UQ Business School||25% tuition fee waiver||MBA Student Scholarship|
Doing an MBA in Australia with a scholarship is useful because your tuition fee is wholly covered. Your savings significantly increase as you need to pay only for rent and food, besides your travel.
Admissions to MBA in Australia – Eligibility & Score Requirements
Students can apply for MBA during a specific time-period for Australian universities:
- In the month of February, July.
- In November, in the case of few Australian universities.
Your admission is based on the grades you obtained during your undergraduate degree. Besides, you will have an interview with the faculty of the business school.
Listed below are proper channels to get admitted for an MBA in Australia.
- By directly applying: To do an MBA in Australia, you can visit their official website and apply on the MBA course web page.
- Using a reliable agent: Many Australian universities provide you with details about agents who can help with the admission process. It is a relatively more straightforward approach.
Getting admissions with Australian universities is a simple process, provided you can meet the eligibility, submit all necessary documents. Besides, you need to make the admission fees on time.
To help you out, we have discussed each one of these briefly:
MBA in Australia Requirements
Here’s what you will need to apply for an MBA in Australia:
- You need to have completed your bachelor’s degree. Few Australian universities may require you to have done BBA or equivalent bachelor’s degree.
- You should have obtained 65% in your bachelor’s degree.
- Two reference letters from your professors and employer (if you have worked earlier).
- You will have to pass an interview either through phone, by being physically present, or through video conference.
- Exceptional GRE or GMAT marks.
- Have a minimum of two years of work experience in a business firm.
- Have a resume updated with your relevant details.
- English Proficiency Requirement: As an international student, you need to communicate effectively in English. Besides, you need to have excellent IELTS scores of around 6.5 to 7.0 for getting admission for an MBA in Australia.