MBA in Australia: Top Colleges, Requirements, Costs, Scholarships & Jobs for MBA in Australia Image
MBA: The Why, The Whats & The Hows

MBA in Australia: Top Colleges, Requirements, Costs, Scholarships & Jobs for MBA in Australia

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Yocket Editorial Team
23 mins read
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Australia has recently emerged as one of the most favoured countries for international students to pursue an MBA. Known for prestigious institutions such as Melbourne University, Griffith University, Monash University, Queensland University of Technology, etc. there are around 40 MBA courses offered at Australian business schools. The versatility and interdisciplinary nature of an MBA in Australia make it one of the best in the world.

In this blog, we dwell at length about MBA in Australia, along with its best colleges, popular courses, cost, MBA in Australia requirements, job opportunities and much more.

  Table of Contents:

  1. Why Study MBA in Australia?
  2. Top 10 MBA Colleges in Australia
  3. Top Courses and Specializations for MBA in Australia
  4. Admission Requirements for MBA in Australia
  5. Documents Required for MBA in Australia
  6. MBA in Australia Without GMAT and Work Experience
  7. Cost of MBA in Australia
  8. Scholarships for MBA in Australia
  9. Job Opportunities After MBA in Australia
  10. Frequently Asked Questions About MBA in Australia

Why Study MBA in Australia?

It is vital to understand the utility and importance of any course before finalizing to invest you valuable time, capital and energy into it. So, let us begin our discussion by looking at some good reasons to pursue an MBA course in Australia:

  • The Australian government highly emphasizes on 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.
  • 13 business schools in Australia feature in the QS World University Ranking list 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.
  • The MBA universities in Australia are highly ranked and accredited. For instance, Macquarie Business School’s MBA program Australia is accredited by the Global Association of Advanced Collegiate Schools of Business (AACSB).
  • The standard of living in Australia is high compared to the global average, and the cost of studying and living is favourably low as compared to other MBA hotspots in the world like UK or USA.

Suggested: Cost of Study MBA in Australia

Top 10 MBA Colleges in Australia

An MBA in Australia equips you with the right tools to excel in top-level business and management settings. The business schools in Australia make the students capable of managing, innovating, and operating in diverse types of small to large businesses or institutions.

Listed below are the 10 best MBA colleges in Australia for international students:

Universities

Business Schools

QS Global MBA Ranking 2022

University of Melbourne

Melbourne Business School

26

University of New South Wales

Australian Graduate School of Management

35

Monash University

Monash Business School

73

Macquarie University

Macquarie Business School

84

University of Queensland

UQ Business School

94

University of Western Australia

UWA Business School

111 - 120

Australian National University

ANU College of Business and Economics

131 - 140

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

Top Courses and Specializations for MBA in Australia

Like all the other countries, Australia offers different types of MBA to fulfil the requirements of different categories of students. Based on your educational qualification, years of professional experience and convenience, the popular MBA programs are mentioned below:

  • Full-time MBA: It is for the students who are willing to leave their job and dedicate their full time to the weekday classes and studying.
  • Part-time MBA: It is for those who wish to enhance their career by acquiring managerial skills while still being employed. It is also known as the Evening or Weekend MBA program as the classes are held during the weekends.
  • 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, at times different countries and cultures too.

MBA programs in Australia offer a wide range of specializations too. Let us have a look at the best MBA specializations in Australia:

Finance

MBA in Finance equips you with skills to excel in the finance and investment sector. This MBA program Australia is suitable for the ones seeking professional careers in specialist finance roles. After completion of 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:

Marketing

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

Popular MBA colleges in Australia offering MBA in Marketing are:

Healthcare Management

Healthcare Management 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 area of health service delivery. If you are seeking a career in senior management in health service delivery by implementing advanced strategies, MBA in Healthcare Management is the right choice.

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

Admission Requirements for MBA in Australia

MBA in Australia eligibility depends upon the university and the program you choose. Some basic MBA requirements in Australia for international students are:

  • Undergraduate Degree
  • GMAT or GRE Score
  • Work Experience
  • Language Requirements
  • Passport & Visa

Now let’s look deeper into the eligibility criteria to study MBA in Australia one by one:

Undergraduate Degree

To apply for MBA courses in Australia all applicants must have an undergraduate degree of a minimum 5.0 to 7.0 CGPA from a recognized university. You must produce the original transcripts too.

GMAT or GRE Score

The second most important requirement for 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.

Work Experience

A minimum of 3 to 5 years of professional work experience in the relevant field is a must to apply to top MBA colleges in Australia. However, not all universities have a mandatory requirement, but it is always preferred.

Language Requirements

An English proficiency test is mandatory to pursue MBA in Australia for Indian students. Minimum scores as per the tests are:

Passport and Visa

A valid passport and student visa are a must for all international students to study any course at any university in Australia. Do keep in mind to apply for your visa at least 3 months prior to the expected date of travel.

Suggested: Requirements and Application Process for Australian Student Visa

Documents Required For MBA in Australia

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

  • Transcripts of all educational qualifications
  • CV or Resume
  • LOR or Letter of Recommendation
  • SOP or Statement of Purpose
  • Scorecards of IELTS/TOEFL
  • Scorecards of GMAT/GRE
  • Work experience certificate
  • A write-up describing your intention behind opting to study MBA in Australia. Do also include your specific area of interest and any prior achievements you have.

Admission Process for MBA in Australia

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

  1. Finalize 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 desired application form and pay the fee.
  5. Go through an interview with the respective university directors. This is a great 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 in Australia Without GMAT and Work Experience

Amongst the basic requirements to study MBA in Australia a decent GMAT score is of utmost importance. As it has been 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 for 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 MBA in Australia without work experience, you may aim for a high score in 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.

List of colleges for MBA in Australia without GMAT are:

List of colleges for MBA in Australia without work experience are:

Cost of MBA in Australia

MBA colleges in Australia are affordable and charge considerate tuition fees from international students. The overall cost of studying in Australia comes under two categories: tuition fees and cost of living.

Tuition Fees

The average Australia MBA fees from the top universities range from 25,000 AUD to 60,000 AUD per year. The MBA fees vary in accordance with the university, program and specialization you choose. Hence, check the official university websites to get the exact information.

The average tuitions fees for various MBA programs at the top 5 business schools in Australia is mentioned below:

Business Schools

Average Annual Tuition Fees

Melbourne Business School

46,000 AUD - 51,000 AUD

Australian Graduate School of Management

37,000 AUD - 39,000 AUD

Monash Business School

46,000 AUD - 59,000 AUD

Macquarie Business School

39,600 AUD - 40,000 AUD

UQ Business School

43,000 AUD - 45,000 AUD

Cost of Living

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

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

Particular

Average Cost Per Month

Apartment housing including utilities 

AUD 85 - AUD 440

Food

AUD 80 - AUD 280

Books and supplies

AUD 80 - AUD 150

Miscellaneous

AUD 300 - AUD 500

Scholarships for MBA in Australia

MBA Scholarships in Australia are quite beneficial for students to fund their studies. Ofcourse there are other financial aids in Australia too, but scholarships are the best option in this regard. Let us now go through some of the important scholarships for MBA colleges in Australia:

Scholarship Name

Benefit/ Awarded to

Clemenger BBDO Scholarship

  • Meritious students pursuing MBA-Master of Marketing dual degree, Master of Marketing or Part-time MBA at universities in Australia.
  • Amount/ Benefit: Partial tuition fees upto $50,000

Dean’s International Management Scholarship

  • International students pursuing full-time MBA at Melbourne Business School who demonstrates academic excellence and exceptional management qualities.
  • Amount/ Benefit: Full tuition fees

Diversity Excellence Scholarship

  • Exceptional students pursuing full-time MBA at Melbourne Business School who bring fresh perspectives to problems and challenges in business.
  • Amount/ Benefit: Partial tuition fees upto $50,000

Women in MBA (WiMBA) scholarship

  • Women who are nominated and part-sponsored by their employer to undertake the MBA program at UniSA Business School.
  • Amount/ Benefit: Upto 50% course fees

Job Opportunities After MBA in Australia

The jobs and salary 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 top companies of the world.

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

Job Title

Average Annual Salary

Operations Manager

70,000 AUD - 174,000 AUD

Business Development Manager

62,000 AUD - 134,000 AUD

Business Analyst

69,000 AUD - 120,000 AUD

Account Manager

59,000 AUD - 120,000 AUD

Marketing Coordinator

48,000 AUD - 73,000 AUD

 Suggested: Cheapest MBA Colleges in Australia

So that was all about MBA in Australia for international students. MBA colleges in Australia are the best in equipping students with all the necessary skills of business, management, leadership and entrepreneurship. For more insights, guidance and counseling, our Yocket Professionals are always at your service.

Frequently Asked Questions About MBA in Australia

Ques. What is the GMAT score for MBA in Australia?

Ans. The top business schools in Australia require a GMAT score of 600 and above for admission. Know More!

Ques. Is work experience mandatory for MBA colleges in Australia?

Ans. Yes. The top MBA colleges in Australia require a minimum of 3 to 5 years of work experience for admission.

Ques. What is the course duration for MBA in Australia?

Ans. The full-time MBA course in Australia stretches over a duration of 2 years. Other than that, there are MBA programs in Australia that take 1 to 4 years to complete.

Ques. What are the colleges offering best MBA in Australia?

Ans. Apart from the ones mentioned above, other best MBA universities in Australia include:

  • Victoria University
  • La Trobe University
  • Deakin University

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