The MBA program has seen the highest enrollment compared to other programs offered by any university globally. International students who wish to pursue MBA are aware that the best kind of education will only be available abroad. With so many countries offering a diverse range of MBA programs. Australia has always been on the top list to pursue the same.
Australia’s MBA program has been designed to meet the market's current needs. So, if you’re considering pursuing MBA studies in Australia, you should also be well aware of the financial status. Thus to help you see the academic investment, this blog covers everything you need to know about cost of studying MBA in Australia.
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Top Factors That Determine Cost Of Studying MBA In Australia
The MBA fees in Australia for International students have multiple categories under it. While tuition fees are a common aspect, there are other essential costs that also contribute to the former. When planning your budgetary needs, considering these costs is also important.
Here are the crucial ones:
- Cost Of Studying MBA In Australia
- Living Expenses Included In MBA Cost In Australia
- Other Essential Costs Of Studying MBA In Australia
- Pre-Arrival & Post-Arrival MBA Cost In Australia
Let’s learn more about this in detail below.
Cost Of Studying MBA In Australia
MBA tuition fees in Australia define one part of the cost of studying MBA in this country. These MBA in Australia fees for Indian students vary from one university to another. Most of the MBA fee structure in Australia is on a yearly basis. Thus to give you a better insight, here is the list of the top 5 popular universities along with the MBA in Australia fees in rupees:
|
University Name |
Tuition Fees (AUD) |
Tuition Fees (INR) |
|
University of New South Wales Business School |
78,480 AUD/year |
40,68,901 INR/year |
|
Monash University, Monash Business School |
50,000 AUD/year |
25,92,842 INR/year |
|
Macquarie University, Macquarie Business School |
60,000 + AUD/year |
31,11,411INR/year |
|
University of Queensland, UQ Business School |
84,648 AUD/year |
43,89,579 INR/year |
|
48,000 AUD/year |
24,88,164 INR/year |
Suggested: Best MBA Colleges to study in Australia
Living Expenses Included In MBA Cost In Australia
After MBA fees for international students in Australia, living expenses is another contributing factor to the cost of studying MBA in Australia. While studying in Australia, students will also have to cater to the living costs that come with staying in this country. These costs can vary based on a student’s individual lifestyle choices.
International students will cater to 20,000 AUD/year to stay in Australia. Thus the below table will exhibit what your expenses will be like on a monthly basis:
|
Factors |
Average Cost Per Month |
|
Accomodation |
297 AUD- 743 AUD |
|
Food & Groceries |
208 AUD- 416 AUD |
|
Transportation |
44 AUD -89 AUD |
|
Household Bills |
14 AUD- 29 AUD |
|
Shopping |
118 AUD- 223 AUD |
|
Miscellaneous |
22 AUD - 29 AUD |
Suggested: Living cost in Australia
Other Essential Costs Of Studying MBA In Australia
With the above two costs in mind, there are also other essential costs that you need to cater to. The top ones are explained below:
1. Visa Fees
Before you arrive in Australia to study MBA at your dream university. You require a student visa. The Australian student visa fee is AUD 630, also referred to as subclass 500. Students with this visa can stay in Australia for more than 90 days.
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2. Application Fees
Universities charge application fees in order to cover the admission process. While most universities now have eliminated this process, a few still enquire about the same. The cost of application fees is AUD 133 (INR 6,897).
Suggested: Australian universities without application fees
3. Overseas Student Health Cover
International students should have overseas student health coverage in order to access healthcare in Australia. The costs range from 609 AUD - 3,438 AUD.
4. Proof Of Funds
To pursue the cheapest MBA in Australia for international students, students should cater to another factor. Students should provide proof of funds. The fund amount should be a minimum of 20,290 AUD annually.
Pre-Arrival & Post-Arrival MBA Cost In Australia
Pre-Arrival
1. Entrance Exams
For students to apply to any MBA program, especially in the abroad spaces, an entrance exam is required. An entrance exam aims to help universities understand students' skills and knowledge in multiple subject categories. The entrance exams in Australia for MBA can vary from one university to another.
Here are the popular entrance exams undertaken:
|
IELTS registration fee |
286 AUD- 319 AUD (INR 14,833to INR 16,536) |
|
TOEFL registration fee |
212 AUD- 332 AUD (INR 10,989 to INR 17,210) |
|
GMAT fee |
272 AUD (INR 14,105) |
|
GRE fee |
332 AUD (INR 17,210) |
Suggested: Ace GRE with Yocket GRE Prep
2. Air Tickets
The air ticket prices vary based on multiple factors such as arrival location, destination location, which brand of airfare you’ve chosen, timing of flights, which website you used to book the flight, number of stops, etc. Here is an overview to help you understand.
|
Bangalore to Australia (one-way) |
34,000 INR- 65,000 INR |
|
Mumbai to Australia (one-way) |
36,000 INR- 84,000 INR |
|
Delhi to Australia (one-way) |
20,000 INR- 50,000 INR |
Note: These amounts was taken from a popular booking website. The amount can change based on where you’re travelling from and what is your arrival destination.
Post-Arrival
1. Tuition Fees
To pursue MBA in Australia, international students will have to pay a tuition fee of 48,000 AUD- 84,648 AUD/year.
Suggested: MBA fees in Australia
2. Cost Of Living
The cost of living in Australia is 20,000 AUD/year. The figure will vary based on various expenses such as type of accommodation, rent, groceries, food, restaurants, miscellaneous, etc.
Wrapping Up….
MBA is one of the popular business programs that students around the globe pursue. Students are always on the lookout to pursue this program at the top university. Thus, Australia has become a prominent choice due to its quality MBA education. Now that you have the cost of studying MBA in Australia, it’s time to make a confident academic decision. To help you see which MBA university fits your academic and professional needs, speak to our Yocket counsellors today. If you wish to explore yourself, sign in at Yocket to access such study abroad-related information.
Frequently Asked Questions About MBA Fees In Australia
Ques: Is the MBA cost in Australia expensive?
Ans: The MBA in Australia for Indian student fees is not expensive. There are multiple MBA universities in this country that offer cheaper MBA tuition fees in Australia. It is suggested to visit the universities official website to find more details about such MBA fee structure in Australia.
Ques: Is MBA in demand in Australia?
Ans: Yes, MBA is one of the vital and highly popular programs undertaken by international students globally. Australia is home to the best MBA universities offering valuable education, cheaper university MBA fees, etc.
Ques: How long is MBA course in Australia?
Ans: The course duration for doing an MBA in Australia is between 15 months to two years. The duration varies based on the type of program chosen.
Ques: Which country is best for MBA?
Ans: Australia proves to be the ideal country to pursue MBA studies due to the QS-ranked MBA universities and courses offered, cheaper MBA fees in Australia, unique teaching methods, etc.
Ques: Can you pursue MBA in Australia with scholarship?
Ans: Yes, international students can pursue MBA in Australia with a scholarship. If a student finds it difficult to cater to MBA fees in Australia, a scholarship can help support them financially.