Australia is a top study destination for MBA aspirants, and the number of applicants every year stands as proof. Judging by the QS World University Rankings, Australia is one of the five best destinations for foreign nationals who wish to pursue a Master of Business Administration degree. There is plenty on offer for MBA aspirants in Australia, including an amazing lifestyle, vibrant business environments, and top-class universities. Here, let's discuss some of the best universities in Australia for an MBA, the various advantages of pursuing this qualification, business school admission requirements, and much more.
Let’s dive right in…
Why Should You Pursue an MBA in Australia?
An MBA from Australia is greatly valued around the world. With about 75 globally recognised MBA courses, Australia promises amazing career opportunities for MBA graduates. The key characteristics that attract foreign nationals to pursue an MBA in Australia include the following.
Return on Investment
The MBA cost in Australia will vary depending on your school and program. The tuition fees for MBA programs in Australia generally range between $20,000 and $100,000 on average. Schools in the country offer international students plenty of financial aid and scholarships to help reduce their MBA costs. At the same time, MBA graduates can earn top dollar in Australia. As per a recent Payscale study, MBA graduates earn around $114,000 on average in Australia, versus $71,000 for bachelor's degrees. This means that you can recoup what you pay for an MBA in Australia in a matter of months.
There are over 130 institutions offering MBA and management programs in Australia, including those ranking highly in global university rankings. This means that you have an array of university options to choose from, depending on your budget. Some top universities in Australia do not require GMAT scores for entry into their MBA programs, while others have no work experience requirements. There are also some universities in Australia with neither GMAT nor work experience requirements for international students.
Aside from top-notch education, many schools in Australia offer international students support services, like counselling on essentials like student welfare, accommodation, and post-study employment opportunities. Speaking of employment, Australian universities have strong connections with the local business community, offering graduates opportunities to forge relationships with prospective employers through internships. For instance, Tasmania has only one university, the University of Tasmania. This means that the University of Tasmania is the main source of MBA graduates for the whole state. The same goes true for Charles Darwin University in Darwin.
Amazing Job Prospects
There are good employment prospects for Master of Business Administration graduates in Australia. The graduates of many top-ranked schools in Australia are much in demand on the job market thanks mainly to the skills they learn, like problem-solving, critical thinking, and teamwork. Australia's strong economy contributes to plenty of job opportunities, and Australian employers value an MBA and are ready to pay top dollar to lure the best talents available.
Types of MBA Courses in Australia
When it comes to the MBA, there are multiple streams and options for you to choose from, including even advanced degree options. As for professionals, it is a very flexible qualification that fits in with different requirements at virtually any career phase.
- A general MBA covers management and business education more broadly and is for someone with little to no managerial experience who wants to progress in their career.
- An executive MBA program concentrates more on offering students practical knowledge and is for a person in a senior managerial position who wants quicker career progression.
- Conversely, a specialist MBA is more targeted at offering skills and knowledge in a specific field and suits someone with some experience related to a particular industry.
Full-Time MBA in Australia
It is a conventional program in which you attend MBA classes on an on-campus basis for one to two years. It is the costliest MBA option but provides the highest level of exposure to academics, classmates, university resources, and so forth.
Part-Time MBA in Australia
It is a relatively less-intensive variant of a full-time MBA program where you attend weekend classes. Therefore, it takes three to four years for one to complete a part-time MBA program in Australia.
Online MBA in Australia
It is the latest option that lets you complete MBA coursework from any location over the internet. It may be a cheaper option as compared to the others but provides the least exposure to academics, classmates, university resources, and support services.
Best MBA Universities in Australia
An MBA from any of these universities in Australia is a globally recognised qualification that comes with many different specialisations.
The University of New South Wales
As per the QS University Rankings, UNSW Sydney is the best university in Australia for an MBA and one of the thirty best MBA institutions globally. The university-affiliated Australian Graduate School of Management provides a full-time MBA program on their campus in Randwick. The location is a stone's throw away from the top parks and beaches in Australia, as well as the Sydney central business district. In addition to an array of academic and career opportunities, Sydney's urban lifestyle and natural beauty make it a great location for an MBA in Australia.
As a management institute, Macquarie Graduate School of Management is well established not just in Australia but overseas as well. The numbers back this up. It sits at 80th in the QS rankings and 88th in the CEO World magazine rankings for top business schools in the world. An elective unit for the MBA program such as big data and decision-making shows that the university also takes the future of work into account while designing their course structure. The university also offers various student support services, which include career guidance, mentoring, and networking events. Read on for more about the best universities in Australia for an MBA.
A member of the Group of Eight (G8), Monash University is a leading provider of higher education services that focuses a lot on research. They are known for their advanced, research-focused curricula as well as industry practitioners and professors with skills and knowledge. Monash's academics and industry practitioners bring their insights and knowledge to applied projects and classrooms, helping to make the MBA program an enriching experience for international students. Besides, Monash Business School ranks 84th on the QS list of the world's best universities for an MBA.
The University of Western Australia
The University of Western Australia offers an MBA program with a strong focus on leadership, which makes it ideal for aspiring influencers and leaders. The program will allow you to gain practical leadership and business skills, as well as equip you with a vast professional network so that you can be more valuable to your future organisation. There are three study modes in the MBA program, lasting 12 months, 15 months, and 18 months, respectively. The university appears 90th on the QS list, which also contributes to making their MBA a globally recognized qualification.
Located in Melbourne, RMIT University is world-renowned for research in enterprise, design, and technology. As a student from the Philippines, you can also apply to an MBA program at RMIT without paying the $100 application fee. In other words, RMIT is among the free-to-apply universities in Australia for Filipinos and many other nationals. The university is also known for the high number of employable graduates they produce, as evidenced by their number one rank on the QS list for the metric "Graduate Employment Rate." Besides, Melbourne is one of the best places to study in Australia. It is known for its coffee culture and is home to community festivals such as the Moomba, which make the international student experience rich and vibrant.
Full-Time MBA Duration
$81,720 for the full course
$42,000 a year
$100,000 for the full program
The University of Western Australia
$67,350 for the full course
$48,000 per year
Requirements to Study MBA in Australia
The requirements vary from one university to the next, but the key usual criteria for an MBA program include the following:
- An Australian bachelor's degree or its equivalent degree in your home country.
- University-specified GPA. However, there are many universities without GPA score requirements for entry.
- University-specified GMAT score. However, there are many universities that do not require GMAT scores for admission.
- If you have no GMAT scores to show, you may need at least two years of work experience.
- A Statement of Purpose.
A university-specified IELTS score, to prove that you are proficient in English.
Job Opportunities After MBA in Australia
After successfully completing a 2-year MBA program in Australia, it is possible for you to apply to the Department of Home Affairs for a Temporary Graduate visa. The visa will allow you to work as an MBA graduate in Australia for 2 to 4 years, depending on your school location.
The visa allows for exploring some top careers in Australia after MBA courses in many positions, including the following:
- Marketing manager
- HR manager
- Sales manager
- Business analyst
- Finance advisor
- Investment banker
- Project manager
- Business development manager
- Chief technology officer
- Business consultant
Can I Work While Doing My MBA in Australia?
To cut a long story short, yes. You can work while studying any course in Australia with a student visa, and an MBA program is no exception. Traditionally, you can only do this for 40 hours per fortnight, but this restriction does not apply until June this year. On the other hand, your dependent can work on a full-time basis in Australia.
Is GMAT Required for an MBA in Australia?
Yes. There are schools in Australia without GMAT score requirements for admission, such as Griffith University, La Trobe University, and Monash University. If any school doesn't have this requirement, they may need applicants to have work experience for a certain number of years.
Can I Do an MBA in Australia Without Work Experience?
It is possible, but then you may need to meet the GMAT score requirement of the university where you apply. Top schools for MBA in Australia require either GMAT or work experience. Options for an MBA without GMAT scores are available at James Cook University, Southern Cross University, and RMIT University.
How Much GPA is Required for an MBA in Australia?
It depends on the university where you want to apply for an MBA. For instance, RMIT University accepts an MBA candidate with a GPA of 1.0 at the very least.
Which MBA Specialisation Is In Demand in Australia?
Each specialisation prepares you with real-world skills, but employers in Australia seek candidates with some skills more than others. Health management, finance, IT, marketing, and entrepreneurship are among the best electives for MBA programs in Australia.
Can I Get Permanent Residency in Australia After My MBA?
You could become a permanent resident of Australia if a state in the country sponsors you for a management consultant's job through the subclass 190 or 491 visa. The subclass 190 visa is a PR visa, whereas the 491 visa offers a PR pathway after three years. As for PR after an MBA in Australia, not every state offers an MBA student a pathway to permanent residency. Victoria is a fairly flexible state in this regard because it allows applying for a subclass 190 visa if you have a skilled job, albeit one in your chosen field. Speak to a registered migration agent or an immigration lawyer about PR after an MBA in Australia.
Are you keen on pursuing an MBA in Australia? Approach our counsellors for a free one-on-one consultation to learn more about affordable and the cheapest MBA programs in Australia for international students.