About MBA in Australia
A Master’s in Business Administration (MBA) is a prestigious degree that can boost your career. The program helps you build a strong foundation in business fundamentals. The course outlines the process of working as business professionals and senior executives. Plus, case studies and hands-on experience prepare you for the business world.
For Indian students, Australia is a preferred destination for getting an MBA abroad. This is majorly because of the following benefits of pursuing an MBA in Australia:
- The country is home to top-ranked business schools and offers high-quality education.
- Australia offers a lot of opportunities for professionals to enjoy rewarding careers after completing the MBA program.
- Students can choose from a range of MBA programs with practical learning opportunities.
- Australia’s economy has been doing well for the last decade and the business landscape is inviting towards MBA graduates.
So, Australia can be the perfect destination for students who aspire to pursue an MBA program abroad. In this article, we will cover everything you need to know before getting an MBA in Australia.
Top universities in the world for an MBA in Australia
Australia is home to many prestigious universities that offer MBA programs. According to the QS Global MBA Rankings, 5 Australian universities are among the top 100. Below, you’ll find important details about the top 5 MBA universities in Australia.
| Rank | University | Location | QS Score | Fees (in Australian Dollars) |
| 30 | Melbourne Business School | Melbourne | 77.3 | $106,650 |
| 31 | UNSW (AGSM) | Sydney | 76.8 | $81,720 |
| 50 | University of Sydney Business School | Sydney | 67.5 | $55,000 |
| 75 | UQ Business School | Brisbane | 60.4 | $91,421 |
| 84 | Monash Business School | Melbourne | 58.1 | $53,000 |
Note: The fees are tentative and subject to change. Check the official university websites for accurate fee details. Also, the fee does not include living expenses and insurance.
Course curriculum for an MBA in Australia
The MBA curriculum in Australia varies across universities. However, there are some common subjects which are covered in any program that you choose.
These basic business disciplines prepare students for general management roles. Core subjects covered in an MBA in Australia include:
- Accounting
- Business policy and strategy
- Data analysis and statistics
- Economics
- Finance
- Global business
- Human resources management
- Leadership
- Marketing
- Operations
- Organizational behavior
Specializations within the MBA
Australian universities let students tailor their MBA program as per their interests and professional aspirations, via specializations. These specializations allow students to focus on specific areas while learning the fundamentals.
There are many specializations offered within the MBA. These range from Marketing, Finance, and International Management to IT and Health Services. Check with your preferred institution to see which specializations are offered.
Eligibility for Studying MBA in Australia
Eligibility criteria varies from university to university. Below we have mentioned the general criteria for applying for an MBA in Australia.
- An undergraduate degree: A CGPA of 5.0 to 7.0 from an accredited university is important for admission.
- A good GMAT or GRE score: The exact score varies depending on the type of MBA program and university you choose. The standard GMAT score ranges from 600 – 650.
- At least 3 to 5 years of professional job experience in the relevant field: Although it is always recommended, not all universities have this requirement.
- Language-proficiency proof: For Indian applicants, an English proficiency test is needed for an MBA in Australia. The approximate minimum test scores required are:
- IELTS: 6.5 – 7.5
- TOEFL (iBT): 100
- PTE: 58 – 60
- Passport and visa: International students must have a current passport and student visa. Remember to apply for your visa at least three months before the date of your scheduled trip.
- Other requirements: Letters of Recommendation, essays, and a Statement of Purpose is also required.
You can find specific details about the eligibility criteria on the university websites.
GMAT/GRE requirements for studying MBA in Australia
Most universities in Australia require a GMAT or GRE score for an MBA admission. The required scores can vary depending on the university and the type of MBA program.
Here are the GMAT/GRE score requirements for top universities in Australia:
| University | GMAT Score Requirement |
| Melbourne Business School | 695 or higher |
| UNSW (AGSM) | 650 or higher |
| University of Sydney Business School | 630 or higher |
| UQ Business School | 550 or higher |
| Monash Business School | Not required |
Some universities may also accept GRE scores as an alternative to the GMAT.
Important: The scores mentioned above are the minimum requirements. They do not guarantee admission. Admission to the top MBA programs in Australia is competitive and you should aim for a GMAT score between 650 – 700.
Scholarships to study MBA in Australia
The average cost of an MBA in Australia in 2024 is $60,643. For international students like those from India, the cost goes up to $69,186.
Plus, there are living, transportation, and general expenses. All-in-all, it is a significant investment. But there are several scholarships available for international students pursuing an Australian MBA.
Most universities also offer their own scholarships. So do check your preferred institution’s website for more information.
Some of the prominent scholarships available at the top schools for MBA in Australia include:
| University | Scholarship | Amount |
| The University of Sydney | Future Leaders MBA Scholarship | AUD 60,000 |
| UQ Business School | 13 scholarships | 25% of tuition fee |
| Melbourne Business School | Diversity Excellence Scholarships | AUD 50,000 |
| AGSM@UNSW | Luminis Foundation AGSM Wharton Business Innovation Scholarship | AUD 48,000 |
| Monash Business School | Global Executive MBA Women in Leadership | AUD 5,000 – 10,000 |
| UTS | UTS MBA Scholarship for Outstanding Students | AUD 5,000 |
| AIM Business School | AIM Business Schools Women in Leadership Scholarship | Up to AUD 6,000 |
Note: These are only some of the options available. Be sure to check the universities’ scholarship pages for exact eligibility criteria and application details. However, even with scholarships, covering all education expenses can be challenging. FundRight helps by offering education loans up to 1.5 crore. Register and create your profile to get offers from top lenders. Submit your documents online, avoiding the need for multiple bank visits. With the assistance of a financial advisor, you can finalize your loan and receive disbursement in as little as 10 days. FundRight makes securing an education loan fast and efficient, with approvals in as little as 48 hours.
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Career scope of MBA in Australia
77% of respondents in a survey said they would recommend Australia for an MBA. This bears testimony to the excellent career scope of an MBA in Australia.
Let’s explore the career scope of an Australian MBA in detail:
- High Earning Potential
You can get jobs with annual salaries ranging between AUD 95,000 to 1,00,000 after an MBA in Australia. As your experience level increases, your salary can extend up to AUD 158,000 or higher. - Growing Demand
There are strong employment opportunities for MBA holders in Australia. The job growth for specialist managers is likely to increase by 10.1%. Even for other general managerial roles, the job growth rate is expected to be 6.1% by 2025. - Top Earners
The QS Global Employer Survey 2022 states that Australia offers the 4th highest salary for MBA graduates in the world. This makes an MBA in Australia worth the investment. - Global Recognition
Australian MBAs are recognized worldwide. This enhances employability for MBA grads not just in Australia but internationally. - Diverse Opportunities
Graduates with an MBA from Australia can find opportunities across various sectors. This is because of the comprehensive coursework and the various specializations available. Key areas of work include finance, consulting, technology, and more.
Top recruiters for MBA graduates in Australia
2023 data revealed that 90% of employers plan to hire MBA grads. Small, boutique firms, to startups and big enterprises–all look to hire MBA graduates. After completing an MBA in Australia, you won’t have to wait much before getting hired. Some of the top recruiters for MBA graduates in Australia include:
| Employer | Average Annual Salary (in AUD) |
| Commonwealth Bank of Australia | 84,000 |
| ANZ Banking Corporation | 45,000 |
| Woolworths | 123,000 |
| Telstra Corporation Ltd. | 126,000 |
| Westpac Banking Corp | 135,000 |
| JP Morgan | 158,000 |
| Fidelity Investments | 133,000 |
| Allianz Global Investors | 132,000 |
| Barclays | 135,000 |
| HSBC Global Asset Management | 109,289 |
This is not a comprehensive list though. Many other companies also hire MBA graduates in Australia. Of course, you can also find international jobs with your Australian MBA degree.
All this reflects the high employability of MBA holders in Australia.
Job prospects and salaries offered after studying MBA in Australia
MBA graduates are in high demand worldwide. Employers pay attractive salaries to candidates if they have the right skills. And a degree from a top B-school in Australia further boosts your job prospects and salary.
Some of the top industries where you can get a job after an MBA in Australia include:
- Consulting/Professional Services
- Education
- Manufacturing/Engineering
- Financial Services
- IT/Computer Services
The specific job role that you may be offered depends on your specialization. The top job roles for MBA graduates in Australia:
- Marketing Manager ($110,000 per year)
- CEO ($280,000 per year)
- General Operations Manager ($175,000 per year)
- Project Manager ($1,30,000 per year)
- Sr. Business Analyst ($1,46,619 per year)
Other potential job roles include:
- Operations Manager
- Analyst Manager
- Data Scientist
- Management Consultant
- Human Resource
- Risk Analyst
Important: All salary figures are in AUD. The exact salary you receive will vary depending on the location and your experience.
FAQs
1. What is the typical duration of an MBA program in Australia?
Usually, an MBA in Australia is a 2-year course, which includes 4 semesters. However, a lot of colleges in Australia also offer expedited MBA programs. These programs can be completed within 12-18 months.
Part-time and online, self-paced MBA programs are also available in Australia. These programs take a longer time to complete.
Irrespective of the course duration, the programs include comprehensive curriculum and advanced training.
2. How important is work experience for MBA admissions in Australia?
Work experience is often a mandatory requirement for an MBA in Australia. 3 to 5 years of professional experience can help you secure admission to the top MBA programs in Australia. Also, it helps you better understand the coursework. However, some universities may accept students without work experience. So, it’s best to check each university’s requirements on their website before applying.
3. Can international students work while studying for an MBA in Australia?
Yes. International students are allowed to work while pursuing an MBA in Australia. In fact, they get the same work and study rights as Australians. This means you can get part-time and full-time jobs while pursuing an MBA in Australia. This helps students gain work experience and support themselves financially.
However, there are certain rights and responsibilities that you should know first. You can contact your university’s placement or international student office for exact details. They can also help you find the right jobs.
4. What is the cost of an MBA program in Australia?
The cost of an MBA in Australia varies by institution. It can range from AUD 50,000 to AUD 81,400. For example, an MBA at the Melbourne Business School costs about AUD 106,650. The 18-months MBA at University of Sydney Business School, on the other hand, costs $55,000
Note that this is only the tuition fees for an MBA in Australia. There are other living expenses also that you’d have to bear. For example, the average monthly expense for one person ranges from AUD 2,000 to AUD 3,500, excluding accommodation. This covers basic expenses like food, transport, utilities, and entertainment.
These costs vary based on lifestyle, personal choices and the city you are in. Major cities like Sydney, Melbourne, and Brisbane are expensive, while smaller cities are cheaper.
5. How do I select the right college for an MBA in Australia?
Choosing the right college for an MBA in Australia is extremely important. Rankings published by reputed analytics websites such as QS Rankings are a good indicator to begin with. However, other than the rankings, you should also check the fees, employment opportunities, and overall ROI. After all, you cannot just select a college/university just because it is famous. The right MBA program is the one that fits your career goals and personal needs. You can simplify your search with SelectRight. It uses an AI algorithm to match you with the right MBA course and university in Australia. Plus, you also get free guidance from experts and alumni. Start shortlisting Australian MBA programs and universities for Spring ’25. Sign up on SelectRight today!
