MBA: The Why, The Whats & The Hows

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

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Master of Business Administration and the specialisations branched under it involve skill enhancement as much as inculcating knowledge. Each concept included in the course curriculum is driven home through practical exercises and sharing experiences. This is why choosing the right university to pursue your MBA is essential. Australia is home to several top universities in the world and is ranked in the top three countries for education. When you pursue MBA in one of the best Australian universities, you will receive a high-quality education from world-renowned tutors who will share their experiences and use advanced teaching methods to mould you. This blog will be your guide to help you choose the right university in Australia.  

Table Of Contents

Overview Of MBA Degree Australia

Before delving deep into each aspect of studying an MBA in Australia as an international student, we'll first give you an overview of the MBA degree in Australia. Please see the Table below for details.

Number of Universities in Australia offering MBA

30+

Types of Universities

Public, Private

MBA Course Duration

1-2 years

Types of MBA

General MBA, MBA executive, MBA with specialisation

MBA Specialisations available

Marketing

Innovation and Entrepreneurship 

Finance

Healthcare Management 

Business Analytics

Average Tuition fee for international students

54,000 AUD per annum

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:

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:

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:

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 

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:

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

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:

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

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.  

Frequently Asked Questions About Universities For MBA In Australia

Ques: Is it mandatory to have work experience to study MBA in Australia?

Ans: Some universities in Australia require 2-5 years of work experience to study MBA, whereas other universities do not require work experience. Suppose you do not have work experience and want to pursue MBA in Australia. You can study at the University of Tasmania, University of Newcastle, RMIT university, James Cook University, and Southern Cross University. 

Ques: Is Australia good for MBA?

Ans: Yes, Australia is an excellent choice to study MBA. Australia ranks in the top 3 countries worldwide for education and in the top 5 countries for MBA. The quality of education, internship and job opportunities are diverse, and you can be placed in companies with a high salary package immediately after completing your MBA course.

Ques: Can I apply for PR after studying MBA in Australia?

Ans: After completing your MBA in Australia, you can apply for 485 visas for the post-study workstream. Under this visa category, you can work for two years in any company in Australia. Please note that you can apply for a 485 Visa only when you opt for a 2-year full-time MBA program in any of the universities in Australia. For any term lesser than 24 months, this visa category is not applicable. 

You can also opt to work with an employer willing to sponsor you. In this case, your employer can sponsor you with a 457 (temporary) visa valid for four years. This can be renewed again after the term is over. After you meet the criteria of staying for four years in Australia and other criteria as per the Immigration office of Australia, you can apply for a PR. 

Ques: Is it expensive to study MBA in Australia?

Ans: Australia has more than 30 universities and Business schools that offer MBA. The tuition fee of premium business schools ranges between 40,000 AUD – 100,000 AUD per year. Some universities in Australia reasonably charge fees, such as Charles Darwin University, with a yearly tuition fee of 32,760 AUD and Southern Cross University, at 30,400 AUD per annum.

Ques: What is the Australia MBA fee in India Rupee?

Ans: On average, the tuition fee for MBA in Australia is 30,00,000 INR – 14,00,000 INR per annum.