Getting an MBA can be very beneficial to your career in a lot of ways. You might have also considered doing an MBA program in Australia for a lot of other reasons. So, I want to share with you in detail how you can get an MBA in Australia very easily.
Australia is a good choice because it is one of the countries with a fascinating culture and beautiful tourist centers. However, I don’t advise you to study in Australia just because you like it. It should be as a result of proper research on your proposed course of study.
Australia has become a preferred destination in terms of education for international students. Currently, this “land of kangaroos” attracts the third-largest number of international students in the English-speaking world after the US and the UK, according to Reddiff.
Of course, many MBA students are attracted to Australia’s warm climate and beautiful vegetative cover. Beyond that, Australia’s financial powerhouse Sydney offers a lot of job opportunities in finance and consulting, while the other major cities – Melbourne, Brisbane, and Adelaide – are all welcoming places for newcomers looking to study and do business.
So, in this article, you will fully understand all the processes associated with getting an MBA in Australia, requirements, as well as the best MBA schools in Australia.
Table of contents
- What is An MBA?
- Why Study MBA in Australia?
- What are the Jobs In Australia For an MBA degree? | Salary
- What is the Cost of Doing an MBA in Australia?
- MBA In Australia Requirements
- Can I Apply For MBA in Australia Without GMAT?
- Can I Get An Executive MBA in Australia?
- Can I do a One Year MBA in Australia?
- Best MBA Colleges In Australia
What is An MBA?
An MBA is an acronym for Master of Business Administration. It is a general graduate degree that teaches students technical, business, managerial, and leadership skills. The MBA degree can also have a specific focus, such as accounting, finance or Marketing.
Of course, it’s not only an opportunity to gain valuable business knowledge but also to expand your professional network and create new opportunities. Whether you’re looking to accelerate your career, transition to a new industry, or become an entrepreneur, an MBA can help you get there.
There are different types of MBAs in Australia:
- General MBA
- Executive MBA
- Specialist MBA
Australia offers an array of MBA programs for students across the world. From specialized programs like sports management, education management to general MBAs like banking and finance- you have an array of options to choose from.
That’s why studying MBA in Australia is one of the best decisions you could make in your life.
Why Study MBA in Australia?
Studying in Australia generally is a great opportunity because through this approach you can expand your knowledge and develop skills.
In the same vein, studying an MBA in Australia can expose you to so many opportunities and also people that will help grow your career. International students can work part-time while on a student visa, which will help them to reduce the price of studying abroad in Australia.
Also, the country’s proximity to Asia and close business ties with the region make it a compelling choice for those looking to remain close to Australia after an MBA.
Some of the business schools in Austalia regularly make it into international MBA rankings publications, like Bloomberg Businessweek. And, most of these top MBA programs are located in cities like Melbourne and Sydney.
Of course, education in Australia is top-notch as some of the Australian universities are well-recognized worldwide. This is one of the reasons that make Australia highly recommended to get higher education.
The Australian universities offer MBA programs that are particularly well resourced when it comes to the quality of faculty, the ability of students and also in terms of library, technology, and other facilities.
For example, at the Australian Graduate School of Management, students from about 30 countries participate in the MBA program. Eventually, the graduates work in executive positions in organizations throughout the world.
Generally, the best part of getting an Australian MBA degree is that Australian MBA programs are significantly cheaper than studying abroad, such as in the U.S. or U.K.
You can also check out: Best Universities in Australia for International Students 2022 | Ranking
What are the Jobs In Australia For an MBA degree? | Salary
You might be wondering if there are any jobs in Australia even for Indian students or other international students. The truth is, there are so many job opportunities in Australia for MBA degree holders.
Australian MBA graduates are amongst the world’s best-paid according to a QS Top MBA report. They have the highest salaries in the Asia-Pacific region, and the second-highest salaries ($115,600) in the world, just below Switzerland graduates.
This is because of the ‘strong demand for MBAs amongst multinational employers across Asia and the strength of Australian business schools in recruiting and placing Asian candidates throughout the region.’ Also, the domestic markets in Australia are steady and various sectors like tourism and real estate are on the rise.
Some Universities in Australia have a placement record of 85% on average. In the same vein, Australia has a very strong job market for skilled professionals and the placement for international students is 50%. The Job Market for MBA graduates from prestigious universities is growing according to the research conducted by GMAT.
So, getting an MBA in Australia this 2022 is the best bet. Here are some career opportunities for MBA degrees in Australia:
- Account Executive
- Business Consultant
- Business Development Manager
- Company Co-founder or Company Director
- Finance Manager
- General Manager
- Industry Specialist Manager
- Marketing Manager
- Operations Manager
- Product Manager
- Program Manager
- Sales Manager
Like I said earlier, there’s a world of opportunity for MBA holders here in Australia. Graduates have business administration skills and a degree that demonstrates ability and ambition. So these jobs take full advantage of that MBA degree.
What is the Cost of Doing an MBA in Australia?
Of course, it doesn’t stop at researching about how to get an MBA in Australia, you must be curious to know how much it costs to do an MBA in Australia.
Well, that’s what I want to share here. We know that getting an MBA degree in Australia is cheaper as compared to top countries like the U.S. But, how much does tuition here really cost?
Generally, the tuition fees for MBA in Australia varies with each university, ranging from AUS $50,000 to a course fee of AUS $81,400.
The previous year, specific MBA programs like an executive MBA at the University of Melbourne, the tuition fees cost over $126,000.
Again, programs like the Master of Business Administration / Master of International Commercial Law (MBA) at the University of Western Australia cost around $122,500.
Also, the Executive Master of Business Administration (EMBA) at the University of Melbourne costs about $103,500.
MBA In Australia Requirements
We have explained a bit about studying an MBA in Australia and job opportunities that every MBA holder can apply for. Now, as an MBA seeker, you need to first research for the universities that offer MBA courses in Australia to better understand their requirements.
Most sessions for MBA programs start in February in Australia. And, here are some of the general requirements to study MBA in Australia:
Eligibility criteria usually vary from university to university.
A 3-4 year Bachelor’s degree is generally enough to make one eligible for MBA in Australia. However, most business schools in Australia also ask for work experience of 2-5 years. Of course, this depends on the course you want to pursue.
Business schools in Australia also accept GMAT scores as a part of the admission process. And the average GMAT score for getting admission in an Australian university is 590.
However, GMAT scores are not always required for admission to MBA courses in Australian business schools.
TOEFL is regarded as an English proficiency test for foreign students from non-native English speaking countries. It is generally conducted more than 50 times a year at 4,500 test centers in 165 countries worldwide.
IELTS is also considered an English proficiency test for international students from non-native English-speaking countries. This evaluates a candidate’s English language command on four different parameters, which are Listening, Reading, Writing, and Speaking.
Also read: Australia Student Visa: Step by Step Procedures in 2022
Business schools in Australia tend to conduct a separate interview round for students whose applications have been shortlisted. An interview is essentially a conversation where the applicant is asked about his academic background and why the individual intends to do an MBA program at that Australian university.
Documents To Be Submitted
There are various documents that are required when you want to apply for an MBA program in Australia. The knowledge of these documents will help you be better prepared as you research for the universities and also apply for them successfully.
So, here are the documents that you will need to apply for an MBA in Australia successfully:
- Personal Statement
- Recommendation Letter – Most Australian universities usually require at least two to three recommendation letters.
- Academic Transcript
- Resume – also known as an academic CV.
- GRE/TOEFL/GMAT/IELTS score proof
- Certificates of Work experience (if applicable)
- Photocopies of the Candidate’s passport (For international students)
- Certificates for extra-curricular activities mentioned in the application form.
Can I Apply For MBA in Australia Without GMAT?
Well yes, it’s very possible to do an MBA without GMAT in Australia. GMAT scores are not always required for admission to MBA courses in Australian business schools. In most cases, business schools in Australia prefer work experience over the GMAT score.
Unlike many universities across the globe that rely so much on the theoretical and academic aspects of management, business schools in Australia focus strongly on training students to be future managers.
This is also one of the major reasons why business schools in Australia give more importance to the work experience of an MBA aspirant than to GMAT score.
Hence, GMAT is not a compulsory requirement for Australian business schools, and students can easily opt for an MBA without GMAT in Australia.
Can I Get An Executive MBA in Australia?
Executive MBAs (EMBA degrees) are practice-oriented graduate business degrees that specifically aim at senior business people who plan to share their experience with peers and advance to the highest levels.
Yes, it is totally possible to get an Executive MBA in Australia. EMBA degrees at Australian business schools offer specializations such as International Business, Information Technology Management, Leadership, Human Resource Management, e-Commerce, or Marketing.
Unlike regular MBA programs, an Executive MBA has few to no electives. As a result, EMBA students are able to focus on the core curriculum and complete their degree in a similar timeframe to that of a full-time MBA.
Also, fellow EMBA Australia students will encourage and motivate the desire to grow and build on shared experiences.
So, for your benefit, here are some schools that offer the best executive MBAs in Australia this 2022:
- Master of Business Administration (Executive) – University of Wollongong Faculty of Business
- Executive MBA – Melbourne Business School
- Executive MBA – Australian Graduate School of Management
- Monash University – Executive MBA
- Queensland University of Technology Business School
Can I do a One Year MBA in Australia?
The time period for an MBA in most Australian universities is about 2 years. However, some universities in Australia have started offering one year MBA degree program.
Some of these universities include Melbourne Business School, Queensland University and also, the Australian Graduate School of Management among many other universities in Australia.
The best part of getting a 1-year MBA degree is that you are quickly absorbed into the working system as most business schools are located in the big cities in Australia like Melbourne and Sydney.
Best MBA Colleges In Australia
Here is the list of MBA colleges in Australia with an outstanding quality of education and placement rates after graduation.
#1 Melbourne Business School (MBS)
International students looking for an MBA in Australia often look towards Melbourne Business School, whose MBA has been celebrated with Top 100 placements in top MBA rankings: the Financial Times, the Economist and Bloomberg Businessweek.
Beyond the full-time option, Melbourne Business School offers a part-time MBA, an Executive MBA, and a Senior Executive MBA, with residential modules spread from Melbourne to Asia, Europe, and North America.
#2 Australian Graduate School Of Management
Australian Graduate School Of Management also ranks top in the Financial Times’ Global MBA rankings. The school’s MBA has a strong reputation for having graduates placed in finance and consulting roles following graduation, many of whom are able to stay in Sydney for work in these sectors.
#3 University of Sydney
The University of Sydney’s MBA ranks as one of the top MBA programs in Australia according to the Australian Financial Review. This program focuses on leadership and enterprise and runs for over 18 months.
The university recently added a full-time MBA to its established part-time MBA and Global Executive MBA, where high-level executives study from a combination of online primers and international residencies while undertaking a major strategic project.
#4 The University of Adelaide – Adelaide Graduate School of Business (AGSB)
Located in the more temperate South Australia, Adelaide’s biggest industries are its healthcare and social services sector, and then manufacturing. Local industry and government leaders provide mentorship to the school’s MBA students. Adelaide Graduate School of Business’s MBA is AACSB accredited.
#5 University of South Australia (UniSA) – Business School
The International Graduate School of Business at the University of South Australia is another business offering an MBA in Adelaide. The school’s full-time MBA, also highly ranked by Australian Financial Review, is a flexible program where students have the choice between studying on campus, online, or some combination of both, allowing them to keep up with work and family commitments.
Getting an EMBA is totally worth it because unlike MBA it helps you focus on the core curriculum and complete their degree in a similar timeframe to that of a full-time MBA.
It cost between AUS $50,000 to a course fee of AUS $81,400.
Yes, you do. Work experience is a more important criterion.
With average bonuses of US$17,800, MBA graduates can expect a total salary package of US$116,200.
Studying in Australia to get an MBA degree can be the best thing that can happen to your career. That’s why I have shared everything you need to know about getting an MBA in Australia this 2022.
However, if the tuition from your school of choice is very expensive, there are several scholarships and financial aids to help you fulfill your dream of studying in Australia.