Top MBA University in Australia

Top MBA University in Australia

Top MBA University in Australia
Tejaswee RawalWed Feb 23 2022

Want to pursue an MBA degree? If so, you must keep in mind the country Australia, which is one of the prime destinations in the world for having an MBA degree.

Master’s in Business Administration (MBA) is a one-year full-time professional degree offered through over 58 universities in Australia. 

To be admitted to an MBA course at one of Australia's top business schools, you must have at least 2-3 years of prior job expertise. Some highly recognized business schools in Australia that allow students into MBA programs without the GMAT are Monash, Macquarie, Deakin, and LaTrobe University.

Studying MBA programs at various Australian institutions range in price from 40,000 USD to 63,000 USD on average.

There are numerous governmental scholarships available that compensate up to 100 per cent of your academic expenses, making higher schooling more affordable in Australia. 

With a growing need for experts at the managerial level, candidates with an MBA degree from Australia may expect to earn an average salary of roughly 98,400 USD.

Top Universities for pursuing MBA degrees in Australia

There are many top universities in Australia that rank among the top 500 Universities in the world for getting an MBA degree. That is one of the reasons why Australia is in the top list of students wanting to have an MBA degree. Here are some of the top Universities for MBA in Australia:

Global Ranking

University Name

Location

40

University of New South Wales

New South Wales, Australia

24

University of Melbourne

Melbourne, Australia

127

University of Technology Sydney

Sydney, Australia

151-200

University of South Australia

Adelaide, Australia

74

University of Wollongong

Wollongong, Australia

601-650

Victoria University

Victoria, Australia

151-200

RMIT University

Melbourne, Australia

151-200

Deakin University

Geelong, Australia

63

Australian National University

Canberra, Australia

45

Monash University

Melbourne, Australia

151-200

Macquarie University

Macquarie, Australia

150

University of Western Australia

Crawley, Australia

61

University of Queensland

Queensland, Australia

Why study Masters in Business Administration (MBA) in Australia?

  • Australia is often regarded as one of the most desirable study locations for overseas students. Quality education, cutting-edge research possibilities, and promising job prospects make Australia a popular study location for MBA candidates.
  • MBA graduate students from Universities and colleges in Australia earn high wages due to the strong market for MBAs amongst international corporations throughout the Southeast and the effectiveness of Australian business schools in recruitment and placing Asian applicants all through the area.
  • And according to QS Global MBA Rankings 2021, five Australian major universities have already been ranked among the best 100 business universities in the world.
  • QS News has named Australia one of the best nations for MBA earnings in 2020. It is ranked fifth in the world, with an average income of 98,400 USD, trailing nations such as the United Kingdom, Japan, as well as Germany.

Tuition fees for studying MBA in Australia for the International Students

Consequently, with all the other advantages outweighing the few drawbacks, we felt it would be ideal to expose readers to the finest MBA schools in Australia. We have given the time and fees in USD (subject to vary by specific colleges).

Duration of Course

University Name

Tuition fees in AUS dollar

16 months

University of New South Wales

57,500

1 year

University of Melbourne

67,400

2 years

University of Technology Sydney

65,600

1.5 years

University of South Australia

39,500

1-1.5 years

University of Wollongong

42,000

1.5-2 years

RMIT University

52,000

2 years

Deakin University

44,000

1.5 years

Australian National University

33,100

2 years

Monash University

64,300

 

Macquarie University

 

1 year

University of Western Australia

43,600

1.5 years

University of Queensland

54,100

Eligibility for Studying MBA in Top Universities in Australia

To get acceptance to an Australian university, you must meet the eligibility requirements, submit the needed documentation, and pay the applicable application costs. The following parts go into further detail:

Academic Requirements

  • Bachelor's degree programs in any discipline are acceptable (some schools prefer a degree of certificate in business-related fields)
  • Graduates must have a minimum of 65% in their bachelors.

Document Checklist

  • updated resume
  • At least two letters of recommendation from former employers or academics
  • At least two years of experience in a management or business-related sector is required.

English Test Scores

If you are an international student from a country where English is not spoken, English exam grades are required for studying in Australia. Students with IELTS scores ranging from 6.5 to 7.0 can easily gain admission to prominent MBA programs in Australia.

GMAT requirements

  • A minimum of 550 in GMAT

MBA in Australia without IELTS

Candidates who do not have IELTS must submit an application online for institutions in Australia. Universities must be well studied. To enrol, the student must supply an academic transcript, SOP, LOR, passport, proof of work experience, and other documents. Shortlisted applicants will be asked to participate in a video interview. In this section, the examiner will assess your understanding of English.

The other test is the PTE (Pearson Test of English), which is approved by over 3000 universities and colleges in Australia, New Zealand, and the United Kingdom. PTE is used by the Australian government for a wide range of purposes.

Australian Student Visa

To enter the country, overseas candidates must hold an Australian student visa. You would be doing the same by paying a 620 AUD (35,000 INR) online registration cost and supplying the following papers when applying for a visa:

  • A valid Passport
  • Acceptance letter from the respected University
  • Verification of ID 
  • Financial statements demonstrating sufficient cash (62,222 AUD per year)
  • TOEFL, IELTS, and other English language competency tests
  • GTE or a Statement of Purpose
  • 4 recent passport-size photographs
  • Based on their present location, students may be required to attend a health checkup and visa interviews.

The Cost of Living in Australia

The entire yearly living cost for an overseas student in Australia is expected to be 14,432 USD, as per the Australian Department of Home Affairs. This covers lodging, meals, books, supplies, transportation, personal expenditures, and so forth.

Australia has a diverse choice of lodging possibilities. Given that more than 80% of Australia's population lives near the seaside, it is extremely possible that you will fall in love with the lodging alternatives available to you. Nevertheless, the cost of living is not always consistent because it varies on where you've been living, the dimension of the apartment (if leasing), the locality (urban areas are frequently more costly), whether you will be sharing a flat or not, and so on.

Scholarship programs for students pursuing MBA in Australia

College fees for studying MBA in Australia are quite probable if a student takes awards paying the whole tuition charge. This means you'll just need money to live & travel in the nation, and the institution will cover the rest of your tuition. New graduates in Australia may apply for a variety of overseas scholarships. The following are popular business schools scholarships accessible to overseas students in Australia:

University Name

Scholarship Name

Amount of Scholarship in US Dollar

Monash Business School

Monash MBA International Women in Leadership Scholarship

16,679 

UON Faculty of Business and Law

International Excellence Scholarship (India); South Asia Business and Law Scholarships

8,867  to 41,700

Macquarie Graduate School of Management

Macquarie University India Scholarship; Vice-Chancellor's International Scholarship - St. Xavier’s College, Kolkata.

Varies

UTS Business School

MBA Scholarship for Outstanding Students (Commencing and Current)

1390 to 3475

Sydney Business School

UOW Postgraduate Academic Excellence Scholarship

10-30 % of the tuition fees

Australian Graduate School of Management

AGSM Global Reach Scholarship and AGSM Excellence Scholarship

Varies according to the subject

Melbourne Business School

Kraft Heinz Scholarship

31,221

Adelaide Business School

Adelaide MBA Scholarship

25 % of the tuition fees

Scope after an MBA from Top Universities in Australia

Because an MBA in Australian Universities is recognized worldwide, you may apply for jobs anywhere in the globe once you complete the degree. Following an MBA, students are typically given employment in management. Finance is the best paying company in the world, including an annual compensation of 97,100 USD (average) for an MBA graduate, trailed by technologies and consultation.

An MBA graduate from Australia can work in the following roles:

  • Manager
  • General Manager
  • Accounting Manager
  • Finance Manager
  • Employee Relations Manager
  • Project Manager
  • Organizational Development Manager and so on.

The most coveted talents by employers in an MBA graduate are leadership, strategy, as well as innovation. As a result, students who pursue a degree in business should select courses that emphasize the development of these abilities.

Despite all of the fantastic, it is still challenging to climb above the sparkle of all the other well-known world top MBA companies. One explanation might be that, whereas the price of an Australian MBA is slightly cheaper than that of more renowned American MBAs, living expenditures are rather expensive, often exceeding $500 per week.

Getting an MBA from an Australian university may provide a broad multicultural experience as well as training in a highly competitive environment setting. This paper's contents should assist you to navigate your worldwide MBA choice search.

We recommend that you check the official websites for the most up-to-date and accurate figures. You should contact previous grads and colleagues for more thorough inside details.

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