MBA in Australia: Top Universities, Eligibility, Cost, Scholarship, Jobs & More

Why Study MBA Degree Australia?

Understanding the utility and importance of any course before finalising to invest your valuable time, capital and energy into top MBA programs in Australia is vital. So, let us begin our discussion by looking at some good reasons to pursue an MBA course in Australia and at the best MBA colleges in Australia:

1. The Australian government highly emphasises the quality of their MBA programs. The GMAA (Graduate Management Association of Australia) has also set up a five-star system to monitor and rate the MBA courses in Australia.
2. Thirteen business schools in Australia feature in the QS World University Ranking list for 2022, with Melbourne Business School occupying the top position. The MBA colleges in Australia are known for their excellence and achievements in multiple business fields.
3. The MBA universities in Australia are highly ranked and accredited. For instance, Macquarie Business School's MBA program in Australia is accredited by the Global Association of Advanced Collegiate Schools of Business (AACSB).
4. The living cost in Australia is high compared to the global average, and the cost of studying and living is favourably low compared to other MBA hotspots, like the UK or USA.
5. As an international student, you can work part-time 40 hours in two weeks in Australia. It is open to all sectors, so you can gain work experience and exposure and earn monetarily while pursuing your MBA in Australia. As per the latest update, if you land in Australia before the beginning of your MBA term, you can begin working even before you start college. 

Suggested:Part time jobs in Australia

10 Top Universities In Australia For MBA

Top universities in Australia for MBAs equip you with the right tools to excel in business and management. The top universities in Australia for MBA will prepare you to manage, innovate, and operate in businesses of any size and type. Listed below are the 10 MBA colleges in Australia for Indian students:

Universities	Business Schools	QS Global MBA Ranking 2023
University of Melbourne	Melbourne Business School	27
University of New South Wales	Australian Graduate School of Management	31
Monash University	Monash Business School	84
Macquarie University	Macquarie Business School	82
University of Queensland	UQ Business School	87
University of Western Australia	UWA Business School	111-120
Australian National University	ANU Business School	121-130
University of South Australia	UniSA Business School	151-200
University of Technology Sydney	UTs Business School	151-200
University of Wollongong	Sydney Business School	151-200

Suggested:How to shortlist a university?

Top MBA Programs In Australia

Like all the other countries, Australia offers different types of MBA to fulfil the requirements of different categories of students. You can choose your MBA specialisation based on your interest, work experience and career goals to study at the universities for MBA in Australia. 

Popular MBA degree Australia programs are mentioned below:

• Full-time MBA: It is for students willing to leave their job and dedicate their full time to weekday classes and studying.
• Executive MBA: It is designed for experienced and working executives, managers, entrepreneurs, and other business leaders.
• Global MBA: It aims at providing international business experience to its students. The classes are conducted in different classroom environments, sometimes in different countries and cultures.

Universities in Australia offer more than 30 specialisations in MBA. The highly-opted top MBA in Australia specialisations are listed below:

Suggested:1-Year MBA in Australia

1. Finance

MBA in Finance in Australia equips you with skills to excel in the finance and investment sector. This MBA program in Australia is suitable for the ones seeking professional careers in specialist finance roles. After completing this course, you will have a strong understanding of financial principles and their day-to-day application to international financial markets, corporate financial policy, derivative assets and their associated markets.

Popular MBA colleges in Australia offering MBA in Finance are:

• University of South Australia
• Western Sydney University
• University of Newcastle

2. Marketing

Another best MBAs in Australia specialisation is marketing. An MBA in marketing prepares you for roles that involve trade and commerce in all business enterprises. This program discusses the marketing environment, understanding products, methods and processes for market research, pricing decisions, and developing marketing communications for appropriate profits.

Popular MBA colleges in Australia offering MBA in Marketing are:

• University of Melbourne
• Deakin University
• University of Tasmania

3. Healthcare Management

MBA in Healthcare Management in Australia is among the most sought-after MBA in Australia for Indian students. This program combines business insight and healthcare knowledge to succeed in today's critical health service delivery area. MBA in Healthcare Management is the right choice if you are seeking a career in senior management in health service delivery by implementing advanced strategies.

Popular MBA colleges in Australia offering MBA in Healthcare Management are:

• Deakin University
• Federation University Australia
• Edith Cowan University

Criteria For MBA Eligibility In Australia

Every Australian university/Business School has its own set of eligibility criteria that applicants have to meet to submit their applications for the MBA course. Some MBA eligibility in Australia is common to all universities. We've detailed them below:

• A Bachelor’s degree
• Scorecard of English Language Test 
• GRE score
• A valid passport and student visa

A Bachelor’s degree

You must hold a completed Bachelor's degree in any discipline from any recognised university.

Scorecard of English Language Test 

Based on the MBA specialisation and the university you choose, you must take an English Language Test and meet the minimum score defined by the university. In general, Australian universities define a minimum overall score of 

• 7 in IELTS 
• 65 in PTE 
• 102 in TOEFL 

GRE score

The second most important requirement for a top MBA in Australia is the GMAT or GRE score. The scores vary depending on the type of MBA program and university you choose. The GMAT general score ranges from 600 to 650. On the other hand, some universities offer MBA in Australia without GMAT.

Suggested:Australia universities without GMAT for MBA

A valid passport and student visa

You must have a valid passport and student visa to study in universities for MBA in Australia. They must be valid for at least three months beyond your intended duration of stay to complete your MBA in Australia. Do keep in mind to apply for your visa at least 3 months before the expected travel date.

Also Read
Australia student visa process	Australia student visa success rate

MBA In Australia For International Students: Admission Process

You may complete your application process for MBA in Australia for international students by following the steps mentioned below:

1. Finalise the MBA course that you want to pursue and check for the best university offering that course.
2. Visit the official university website and collect all data relating to eligibility and the admission process.
3. Upload scanned copies of all the required documents (transcripts, CV, IELTS/TOEFL, GMAT/GRE scorecards)
4. Fill out the application form and pay the fee.
5. Go through an interview with the respective university directors. This is an excellent opportunity to display your soft skills and presence of mind.
6. Once you receive the conditional offer letter after clearing your interview, you may book your seat at the particular university.
7. Pay your deposit by agreeing to the terms and conditions of the university. The deposit here is non-refundable.

MBA Degree Australia Without GMAT And Work Experience

A decent GMAT score is of utmost importance among the basic requirements to study MBA in Australia. As mentioned, the desired GMAT score for the top MBA courses in Australia is 600 and above. But do you know there are colleges where you can study MBA in Australia without GMAT? The same applies to work experience too. But the question that arises here is: How?

Whether you wish to omit the GMAT or work experience, the best way to crack the college of your dreams is to strengthen the other requirements. For instance, for an MBA in Australia without work experience, you may aim for a high score on your GMAT or GRE or perform exceptionally well in your undergraduate studies. A well-crafted Statement of Purpose or Letter of Recommendation will also enhance your chances of getting selected for the best MBA in Australia.

A list of colleges for MBA in Australia without GMAT are:

• La Trobe University
• Griffith University
• Curtin University

A list of colleges for MBA in Australia without work experience are:

• James Cook University
• Southern Cross University
• RMIT University

Documents Required To Study In Best MBA Colleges In Australia

Admission to the best universities in Australia for MBA requires a set of documents. Some of the requirements for an MBA in Australia requirements are mentioned below:

1. Transcripts of all educational qualifications
2. CV/Resume
3. Letter of Recommendation
4. Statement of Purpose
5. Scorecards of IELTS/TOEFL/PTE
6. Scorecards of GMAT/GRE (if required)
7. Work experience certificate (if applicable)

MBA Degree Australia Without GMAT And Work Experience

A decent GMAT score is of utmost importance among the basic requirements to study MBA in Australia. As mentioned, the desired GMAT score for the top MBA courses in Australia is 600 and above. But do you know there are colleges where you can study MBA in Australia without GMAT? The same applies to work experience too. But the question that arises here is: How?

Whether you wish to omit the GMAT or work experience, the best way to crack the college of your dreams is to strengthen the other requirements. For instance, for an MBA in Australia without work experience, you may aim for a high score on your GMAT or GRE or perform exceptionally well in your undergraduate studies. A well-crafted Statement of Purpose or Letter of Recommendation will also enhance your chances of getting selected for the best MBA in Australia.

A list of colleges for MBA in Australia without GMAT are:

• La Trobe University
• Griffith University
• Curtin University

A list of colleges for MBA in Australia without work experience are:

• James Cook University
• Southern Cross University
• RMIT University

MBA In Australia Cost

The total cost of an MBA in Australia includes tuition fees and cost of living.

1. Tuition Fees

The average Australia MBA fees from the top universities range from 25,000 AUD to 100,000 AUD per year. The MBA fees vary in accordance with the university, program and specialisation you choose. Hence, check the official university websites to get the exact information.

The MBA fees in Australia for international students for various MBA programs at the top 5 business schools in Australia, including MBA in Australia cost in Indian rupees, are mentioned below:

Business Schools	Average Annual Tuition Fee
Melbourne Business School	99,630 AUD / 53,08,400 INR
Australian Graduate School of Management	63,000-64,080 AUD / 33,50,000 INR
Monash Business School	100,000 AUD / 53,19,000 INR
Macquarie Business School	16,000 AUD – 23,500 AUD / 8,50,900 INR – 12,50,000 INR
UQ Business School	80,808 AUD / 43,07,400 INR

2. Cost of Living

Your lifestyle determines the cost of living in Australia as an international student. The inclusive (accommodation, food, stationery, entertainment, miscellaneous) cost is around 550 AUD to 900 AUD per month.

A detailed cost of living for an MBA in Australia for Indian students as well as other international students is mentioned below:

Expense	Average monthly cost
Accommodation	85 AUD – 440 AUD
Food	80 AUD – 280 AUD
Books and supplies	80 AUD – 150 AUD
Miscellaneous	300 AUD – 500 AUD

Scholarships For MBA Degree Australia

MBA colleges in Australia for Indian students offer scholarships that are quite beneficial for students to fund their studies. Though there are other financial aids in Australia, scholarships are the best option. Let us now go through some of the essential scholarships for MBA colleges in Australia:

Scholarship	Benefit
Clemenger BBDO Scholarship	Meritorious students pursuing MBA, Master of Marketing, Master of Marketing dual degree Partial tuition fee is covered by up to 50,000 AUD
Dean’s International Management Scholarship	International students pursuing full-time MBA at Melbourne Business School who demonstrate academic excellence and exceptional management qualities The total tuition fee is covered.
Diversity Excellence Scholarship	Exceptional students are pursuing full-time MBA at Melbourne Business School who bring fresh perspectives to problems and challenges in business.  A partial tuition fee of up to 50,000 AUD is covered
Women in MBA (WiMBA) scholarship	Women nominated and part-sponsored by their employer to undertake the MBA program at UniSA Business School.  Up to 50% course fee is covered.

Suggested:MBA scholarships in Australia

Jobs After MBA Degree Australia

The jobs and salaries after MBA in Australia are high enough to offer a decent standard of living. Graduates from the top business schools in Australia have a distinguished reputation in the international job market and are sought-after by the world's top companies.

In order to work after MBA, students are required to apply for a post-study work permit. Based on their study type, the stay-back option could be anywhere from 18 months to 6 years. 

Some popular jobs and their estimated salaries for MBA in Australia are mentioned below:

Job role	Average Yearly Salary
Operations Manager	82,000 AUD – 120,240 AUD
Business Development Manager	100,000 AUD
Business Analyst	95,000 AUD – 100,000 AUD
Account Manager	95,600 AUD – 126,710 AUD
Marketing Coordinator	65,000 AUD

Suggested:Work opportunities in Australia

Wrapping up

Choosing the right MBA course and university is crucial to match your education goals. This blog equips you with all the information of universities, including Australia MBA fees and the total cost of an MBA in Australia cost. If you are confused or want an opinion on your MBA in Australia, you can always reach out to our Yocket counsellors anytime. Investing in receiving the desired education is one of the major life decisions, and we’ll help you make the right decision.