For business schools in Australia, applicants must have 55-65% in their bachelor’s degree and IELTS score (equivalent scores accepted). With 2-3 years of work experience, students can apply for an MBA program at top b-schools in Australia. Some universities will accept you into an MBA course even if you do not have a GMAT score . This is the case for Monash, Macquarie, Deakin, and LaTrobe University. The tuition fees for MBA in India are around 45 lakhs. Some scholarships cover up to 100% of your tuition fees . Government scholarships are available. Graduates with MBA from Australia make a median salary of about 98,400 USD (72.2 lakhs INR). Accounting and Finance are one of the highest paying disciplines of MBA . In Australia, the average pay for this course is 61,229 USD per year.
In this article, let us look at:
- Why MBA in Australia?
- Top 10 Colleges for MBA in Australia
- Admission in MBA
- Cost of Studying MBA in Australia
- Scholarships for MBA in Australia
- Jobs After MBA in Australia
1. Why MBA in Australia?
Five of the business schools in Australia have been listed among the top 100 business schools in the world, as per QS Business School Ranking. Studying management in Australia means that you will graduate with a high-quality, internationally recognised qualification, which can help your career progression. Australian management courses teach students a mix of practical and theoretical knowledge . They are looking at developing their communication, personal and leadership skills. Australian courses encourage creativity and independent thinking Many Australian management courses give international students the opportunity to gain experience by doing an internship in a local company. Australia’s multiculturalism means you will be able to learn from many different cultures.
2. Top 10 Colleges for MBA in Australia
The table given below lists the top 10 colleges in Australia for MBA along with their parent university:
- Melbourne Business School, University of Melbourne
- AGSM Business School, University of New South Wales
- Monash Business School, Monash University
- Macquarie Graduate School of Management, Macquarie University
- UWA Business School, University of Western Australia
- UWA Business School, University of Queensland
- ANU College of Business & Economics, Australian National University
- Deakin Business School, Deakin University
- RMIT University School of Business, RMIT University
- La Trobe Business School, La Trobe University
3. Admission in MBA
Admission to a business school is typically based on grades, prior work experience, and a personal interview with the dean or chairperson of the business school. Universities can be accepted by the following ways:
- Direct Applications :On the course page, find the Apply Now toggles, and click on one of them and you can directly apply from there.
- Agents: You can discover how many agents your institution has in your state from its website. When you are ready to complete your application, you’ll want to approach the firm’s local offices for help. The staff members are in the position to help you all through the procedure.
Requirements for Admission
- Bachelor’s degrees in any field (some schools prefer a degree of certificate in business-related fields)
- Minimum 65% in bachelors
- Up-to-date resume
- At least two reference letters from the previous employer or professors
- Interview, conducted face-to-face, over a video call, or on phone.
- A good GMAT or GRE score
- At least 2 years of work experience in a managerial or business-related field
- English Proficiency Requirement: International students are required to submit IELTS scores to demonstrate 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 easily get admission into the popular schools offering an MBA in Australia.
Required Work Experience for MBA Admission
|School||Minimum Work Experience Required|
|Melbourne Business School||2 years|
|AGSM Business School||2 years|
|UWA Business School||2 years|
|UQ Business School||4 years|
|ANU College of Business & Economics||5 years|
|UTS Business School||4 years|
|RMIT University School of Business||3 years|
4. Cost of Studying MBA in Australia
Following types of expenses are incurred while applying for an MBA degree:
- Pre-arrival cost: Includes expenses incurred while submitting an application for an MBA degree.
- Post-arrival cost: Includes charges to be paid during the entire duration of studies such as tuition fees, books, transportation, and accommodation costs.
|Type of Expense||Cost (USD)|
|Application Fee||100 (approx)|
|Australian Student Visa Fee||426|
|IELTS Registration Fee||215- 240|
|TOEFL (iBT) Registration Fee||160- 250|
If you are going to pay for an educational expense, it is going to cost you anywhere between $200 and $3,000. In case you choose a particular college, you will be charged an additional tuition fees. Some colleges charge a high tuition fee. The average living cost for an international student in Australia is $14,432 USD a year. This figure includes the cost of room and board, textbooks, study materials, and personal items.
5. Scholarships for MBA in Australia
Students from all over the world can seek for international scholarships in Australia. The following is a list of top universities in Australia and the scholarships available to foreign students:
|Melbourne Business Schoool||Kraft Heinz Scholarship||31,221 USD|
|Australian Graduate School of Management||AGSM Global Reach Scholarship and AGSM Excellence Scholarship||Varies|
|Monash Business School||Monash MBA International Women in Leadership Scholarship||16,679 USD|
|Melbourne Business School||MBS Scholarships||Varies|
|ANU||ANU College of Business and Economics India Excellence Scholarship||20 students are given an amount of 6,949 USD|
|UWA Business School||MBA (Intensive) International Prestige Scholarships||100% tuition fee|
|Adelaide Business School||Adelaide MBA Scholarship||25% of tuition fee|
|Sydney Business School||UOW Postgraduate Academic Excellence Scholarship||10% to 30% tuition fee|
|UON Faculty of Business and Law||International Excellence Scholarship (India); South Asia Business and Law Scholarships||8,867 USD to 41,700 USD|
|UQ Business School||MBA Student Scholarship||25% tuition fee waiver|
|UTS Business School||MBA Scholarship for Outstanding Students (Commencing and Current)||1,390 USD to 3,475 USD|
|Macquarie Graduate School of Management||Macquarie University India Scholarship; Vice-Chancellor’s International Scholarship – St. Xavier’s College, Kolkata;||Tuition fee waiver|
6. Jobs After MBA in Australia
Since an MBA from Australia is recognized everywhere, you can apply for a job anywhere in the world after completion of the degree. Students are generally offered positions in managerial roles after MBA. Finance is the highest paid industry in the world with the annual salary of an MBA graduate being 97,100 USD (average) followed by technology (89,633 USD) and consulting (90,900 USD).
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)|
|Business Development Manager||111,000|
|Assistant BD Manager||95,400|
|Employee Relations Manager||80,000|
|Organizational Development Manager||93,000|
This degree is a year-long (full-time) course, which can be done either with a two or three years of work experience or no work experience. Not having a GMAT score is not a problem. Universities are some prestigious business schools accepting students into MBA courses without GMAT in Australia. Three universities are included on the list of the top 100 business schools in the world. The average for private schools in the United States is 59,000 US dollars a year, while the median annual income of private-school employees is approximately 97,100 dollars. Studying an MBA in Australia is absolutely worth it.