The popularity of Melbourne Business School’s one-year, full-time MBA with international participants can be gauged from the fact that 81% of the Class of 2017 comprise students from other countries.
Of them, 53% are from Asia, followed by North America (14%), Europe (6%), Middle East (4%), Africa (2%) and South America (2%). Australians constitute just 19% of the class. They may also include people from other countries who possess dual citizenship.
Overall, 23 nationalities are represented with as many as 30 different languages spoken, adding to the diversity of the batch. The average age is 30 and the average GMAT score 705.
The average work experience for the class is 5.6 years. In work background, 21% were in Financial Services and 17% in Energy/Resources.
MBS cites its location in Melbourne, “the world’s most liveable city” as specially advantageous for students where they could thrive in a vibrant multicultural community and advanced economy with easy access to Asian markets.
The School, with EQUIS and AACSB accreditation, is a joint venture between Melbourne University and some of Australia’s most prominent business leaders. It offers four types of MBA programs – full-time, part-time, Executive MBA and Senior Executive Melbourne MBA.
MBS claims that its unique Personal Effectiveness Program is designed to develop leadership qualities for students and help in career development. Regular visits from CEOs and business leaders via the integrated Entrepreneurial Mindset curriculum are arranged besides other avenues and support to develop skills and outlook.
In existence for the past five decades, MBS figures in Global MBA Rankings. It is ranked 34 in the Economist Full Time MBA rankings 2016 and 87 in FT Global MBA Ranking 2016.
The MBA Program
The program entails about 40 contact hours each week. Students have to cover three core modules with four subjects in each. In addition, there is an elective module block.
The subjects include Leadership, social responsibility and ethics; Data Analysis; Decision making; Financial reporting and analysis; People management; Finance; Managerial Economics; Marketing; Operations; Business in Asia; Corporate Finance; Global Business and Economics; Management Accounting; Strategy; Business in Complex Environments (Capstone)
Fees & Other Expenses
The total cost for the full time MBA comes to A$ 85,470. International students have to budget $200 for visas. The average international student in Australia spends about A$580 per week on rent, food, telephone, transport, entertainment and other costs.
However, living expenses vary, according to lifestyle, family situation and choice of accommodation. If the student has a partner and/or children, the budget goes up by at least 30%.
Graduating Class of 2017
Image Courtesy: Melbourne Business School