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MBA in Australia: Top Universities, Courses, Eligibility and Fees
Kritika Yadav
- March 8, 2022
- 12:06 pm
MBA in Australia: Every year, Australia sees a massive influx of international students because of its world-renowned universities, post-study job prospects, and enviable quality of life. It’s no wonder that Australia is such a popular destination for MBA students looking to study abroad. One of the main reasons why an MBA in Australia is so attractive is the perfect balance it strikes between theoretical knowledge and practical skills. Not to mention, it’s also more cost effective to pursue an MBA Down Under than it would be in the States or UK.Â
In addition, students can also take advantage of the country’s many internship and work placement opportunities to gain valuable experience for the job market. With its warm climate, beautiful beaches, and wild spaces, Australia is a great place to live and learn. All of these amazing reasons make study in Australia an enticing and best option to study abroad.Â
Let’s explore everything from top universities in Australia for MBA programs to the cost of studying and eligibility requirements in this article.
Table of Contents
Why study MBA in Australia?
- Specializations: Australian universities offer a lot of different specializations in MBA programs. These programs can range from education management to sports management and even more general subjects like banking and finance. Each program offers students different opportunities to further their careers.
- Top Business Schools: Australia offers one of the best business schools. Around thirteen Australian business schools were ranked in the top 250 business colleges in the world by QS News Global MBA Ranking. These schools offer a great education for those looking to pursue a career in business. Some of these top schools are the University of Melbourne, University of Western Australia, and Monash University.
- Globally Recognized degree: Receiving a management degree from Australia will provide you with a high-quality education degree that will be recognized all around the world. This will help you to further your career, whether you stay in Australia or move somewhere else. In Australia, there are over 75 MBA programs that have been accredited by organizations such as AACSB and EQUIS.
- Extraordinary education system: The Australian education system is designed to focus on the all-round development of a student. This includes developing their communication, interpersonal, and leadership skills. By emphasizing both theoretical and practical learning, the education system fosters independence and confidence in students.
Also read: 8 Reasons Why You Should Study in Australia.
Course duration
MBA courses in Australian institutions typically last 15 months to 2 years, though several universities offer a one-year MBA course instead.
MBA courses vary in duration depending on the institution, with most courses being either one or two years in length. There are advantages and disadvantages to both shorter and longer programmes. For example, a one-year MBA may be more intensive, but a two-year MBA may offer more opportunities for electives and specializations. Ultimately, the decision of which MBA program to choose depends on the individual student’s needs and goals.
MBA specialization in Australia.
An MBA is a great way to prepare for a career in business. You’ll learn important skills like strategic thinking and people management. But you can make your career even more successful by earning a specialized MBA in a particular area of business. With a specialized MBA, you’ll have the skills and knowledge you need to excel in your chosen field. Some of the MBA specializations in Australia are listed below. Â
- MBA in e-commerce
- MBA in Finance
- MBA in Strategy & Leadership
- MBA in International Business
- MBA in Marketing
- MBA in Human Resource Management
- MBA in IT
- MBA in Tourism Management
- MBA in Accounting
- MBA in Public Administration
Requirements for MBA in Australia.
- GMAT score: The Graduate Management Admission Test (GMAT) is an important factor in getting admission to any Australian university. Most business schools in Australia set a minimum GMAT score of 650 for admission into their MBA programs. Some universities may also ask applicants to submit a GRE score along with their GMAT score.
- 15 years of education: In order to study MBA in Australia, a student must have 10+2+3 years of education from a recognized university or institution.
- English proficiency: International applicants whose first language is not English are typically required to take and submit the score from either the IELTS or TOEFL test to prove their language proficiency. The minimum IELTS and TOEFL scores required are:
           IELTS: 6.5 or above (overall band score)
           TOEFL: 80 or above
- Work experience: Students need to have 2-3 years of work experience in the relevant industry. However, work experience is not a necessary factor to get admission in Australia.
Also read: List of Important Exams for studying in Australia.
Documents required for MBA in USA.
Listed below are the documents a student needs to submit to the respective Australian university to get admission.
- Letter of Recommendation (LOR)
- Updated resume
- Student visa
- Statement of purpose
- Cover letter if required,
- Passport size photograph
- GMAT/GRE scorecard
- All academic qualifications
Also read: How to Get an Australian Student Visa.
Best MBA colleges in Australia
Check out the top 10 best MBA colleges in Australia according to QS Ranking 2022 for Global MBA.
| S.No. | Universities |
| 1 | University of Melbourne |
| 2 | University of New South Wales |
| 3 | Monash University |
| 4 | Macquarie University |
| 5 | University of Queensland |
| 6 | University of Western Australia |
| 7 | The Australian National University |
| 8 | Deakin University |
| 9 | RMIT University |
| 10 | La Trobe University |
Also read: Top 20 Business Schools in Australia.
MBA in Australia fees
There is a wide variety of public and private academic institutions in Australia that offer quality programs in almost every area of study. Even though the majority of universities at the top of the rankings are public-funded, the fee structure might vary depending on the course and institution.
The average cost that Indian students have to bear each year to pursue an MBA in Australia will usually fall somewhere between 45,000 AUD (INR 24,24,402) and 82,000 AUD (INR 44,47,200). Listed below are some of the Australian universities with their average annual fees.
| Universities | Average Full-time MBA fees (INR) |
| Australian National University | 37 lakhs |
| The University of Melbourne | 45.5 lakhs |
| The University of Sydney | 49.3 lakhs |
| The University of Queensland | 41.2 lakhs |
| Monash University | 45 lakhs |
| University of New South Wales | 44.2 lakhs |
| The University of Adelaide | 41 lakhs |
| The University of Western Australia | 30.5 lakhs |
| University of Technology Sydney | 48 lakhs |
| The University of Newcastle | 25 lakhs |
Cost of living in Australia
Australia, known for its amazing culture and quality education, is one of the hottest study abroad destinations for international students. However, it is important to note that the cost of living in Australia’s bigger cities can be pretty pricey. On average, a single person can expect to spend between 1500 AUD to 2600 AUD per month on costs like rent, food, and transportation. Listed below are the average monthly costs of accommodation, travel, food, etc. for an Indian student.
| Expenses Type | Weekly expenses in INR |
| Accommodation | 5,350 -16,080 |
| Recreation | 4,287 – 8,038 |
| course-related expenses | 803 – 1,072 |
| Food | 7,500–5,000 |
| Utilities | 536 – 1,072 |
| Transportation | 1,600 – 3,215 |
| Â | Â |
Also read: Cost of Living for International Students in Australia.
MBA in Australia Scholarships
The Australian government and universities offer a number of scholarships for Indian students wanting to pursue an MBA in Australia. There are more than 1,150 scholarships available for international students. So, if you’re someone who couldn’t otherwise pursue an MBA in the USA for financial reasons, then check out the list of top Australian scholarships for MBA study for international students:
| Scholarships | Amount in AUD |
| MBA Scholarship for Outstanding Students by UTS Business School | INR 10,11,28- INR 25,2,904. |
| MBA Student Scholarship by UQ Business School | 25% tuition fee waiver |
| International Excellence Scholarship for India and South Asia Business and Law Scholarships by UON Faculty of Business and Law | INR 64,5,387- INR 30,35,235 |
| UOW Postgraduate Academic Excellence Scholarship by Sydney Business School | 10% to 30% tuition fee |
| MBS Scholarship by Melbourne Business School | Amount varies. |
| Kraft Heinz Scholarship by Melbourne Business School | INR 22,72,474 |
Cheapest MBA colleges in Australia
There are a lot of factors to consider when choosing the right college, and budget is often one of the most important. With the cost of living in Australia comparable to that of the US, tuition fees can be a big deciding factor.The cost of living is low in Australia compared to other English-speaking countries, but tuition fees are not significantly different. Let’s take a look at some of the cheapest MBA colleges in Australia for Indian students.
| S.No. | Universities | Fees per annum in INR |
| 1 | Kaplan Business School | 8.62 lakhs |
| 2 | Holmes Institute | 9.86 lakhs |
| 3 | Charles Darwin University | 11.5 lakhs |
| 4 | Edith Cowan University. | 11.5 lakhs |
| 5 | Victoria University | 11.7 lakhs |
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MBA in Australia without work experience
When it comes to MBA programs in Australia, most schools require applicants to have at least 2-3 years of relevant professional work experience. However, some of the top business schools in Australia are also willing to consider students without work experience who may still be competitive enough for the MBA program. This allows students to pursue an MBA degree without having any prior work experience. Listed below are some of the Australian universities accepting admissions in MBA programs without work experience.
| S.No. | Universities | Course Duration |
| 1 | Monash University | 2 years |
| 2 | Bond University | 1 year |
| 3 | Macquarie University | 1 year |
| 4 | University of Tasmania | 1.7 years |
| 5 | University of Canberra | 2 years |
MBA without GMAT in Australia
Did you know that some of the top ranked universities in Australia accept students without a GMAT score? Yes, you heard it right! Why don’t they require GMAT scores? Because these universities, along with many others worldwide, acknowledge that the GMAT may not necessarily be the best indication of an applicant’s aptitude for an MBA. Listed below are some of the Australian universities that accept applications without a GMAT score.
| S.No. | Universities |
| 1 | Monash University |
| 2 | RMIT University |
| 3 | University of Technology Sydney (UTS) |
| 4 | Macquarie University |
| 5 | Deakin University |
| 6 | Curtin University |
| 7 | University of Adelaide |
| 8 | University of South Australia |
Jobs after MBA in Australia
Australian MBA graduates are in high demand by multinational companies that operate in Australia. Thanks to the number of globally-reputed companies, MBA graduates in Australia have a good chance of securing a two-year work permit. After an MBA from Australia, students are typically given employment in mid-level managerial positions. The finance industry provides the highest-paying jobs, followed by technology and consulting. Let’s take a look at the top recruiting companies and job roles with annual packages after MBA in Australia for Indian students.
Top Job Profiles for MBA Graduates in Australia, along with annual package.
| Job Prospects | Average Salary in INR (annual) |
| Accounting Manager | 1 crore |
| Financial Manager | 1.02 crore |
| General Manager | 80.61 lakhs |
| Business Development Manager | 82.8 lakhs |
| Assistant BD Manager | 71.2 lakhs |
| Project Manager | 66.4 lakhs |
| HR Manager | 59.7 lakhs |
| Development Manager | 69.4 lakhs |
Top Recruiting Companies for MBA graduates in Australia along with Annual Package.
| S.No. | Recruiting Company | Annual Package |
| 1 | Woolworths | AUD 123,000-225,000 |
| 2 | Telstra Corporation Ltd. | AUD 126,000-155,000 |
| 3 | Barclays | AUD 132,000 |
| 4 | JP Morgan | AUD 158,000 |
| 5 | Allianz Global Investors | AUD 132,000 |
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