MBA in Australia - Top Universities, Fees, Intake, Eligibility & Scholarship

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MBA in Australia is internationally-recognised for its quality and updated curriculum based on the latest industry standards. As per QS Rankings, Australia is among the top 5 study destinations for students wishing to pursue management and business degrees. Additionally, Australia has five of its Business schools ranked among the top 100 business schools in the world, as per QS Global MBA Rankings 2022.

In Australia, students can choose from a wide range of MBA specialisations, from banking and finance to sports management. Australian B-schools deliver MBA programmes within a span of 16 months to 2 years, exposing students to both theoretical and practical learning. Once students complete their MBA in Australia, they can explore myriad opportunities such as Business Relationship Managers, Sales Managers, Finance Managers, General Manager of Finance And Administration, and so on.

Quick Glance: MBA in Australia

Components

Details

Course Duration

16 months-2 years

Number of MBA Universities in Australia

130+

Standardised Tests for MBA in Australia

GMAT/GRE

English Proficiency Tests

IELTS/TOEFL/PTE/Duolingo

Admission Intakes

February Intake

July Intake

Average Tuition Fees

AUD 54,000 annually (INR 29 Lakh approximately)

Eligibility

Bachelor’s degree from a renowned university

2-3 years of work experience

GMAT/GRE scores

IELTS/TOEFL/PTE

Documents Required

Academic transcripts, Standardised test score card, English proficiency score, SOP, LORs, CV, etc.

Types of MBA Courses

General MBA, MBA Executive and MBA with specialisation

Top MBA Specialisations

MBA in International Business

MBA in Finance

MBA in Logistics

MBA in Human Resources

MBA in Information Systems

MBA in Hospitality

Top Business Schools

Melbourne Business School

UNSW

 Monash Business School

Top Recruiters

Financial Services

IT/Computer Services

Consulting/Professional Services

Education

Manufacturing/Engineering

Average Salary

AUD 85,000 (INR 46 Lakh approximately)

Types of MBA in Australia

Australia offers a number of MBA courses apart from the traditional full-time MBA to its domestic as well as international students. Students are required to opt from the choices given according to their preferences. Each type of MBA has its own benefits, so the candidates are advised to get a good knowledge before making their choice. 

  1. Full-Time MBA: Candidates opting for a full-time MBA need to attend their classes on a regular basis. This type of programme is a perfect fit for those who want to concentrate on their studies, and do not want to work alongside them. A full-time MBA in Australia is popular amongst the younger generation as this course requires the least amount of time to complete in comparison to others.

  2. Part-Time MBA: This type of MBA is for the students who wish to earn while pursuing their courses. Students opting for a part-time MBA, which takes a little more time than a full-time MBA, does not require them to leave their job. They usually attend their classes after their work hours or on weekends when they are free. The time period of this course often depends on the individuals and how much time they take while juggling work and studies.

  3. Dual MBA Degrees: There are certain individuals who want to pursue an MBA degree along with some other degree. Dual MBA degrees in Australia allow students to do so. The main advantage of this course is that the individuals get to complete two master’s degrees at the same time and eventually have a higher possibility of securing more advanced jobs.

MBA Colleges Offering Different Types of Courses

The colleges in Australia are famous for offering world-class MBA courses that make students ready for corporate life. These colleges offer different types of courses ranging from full-time MBA to dual degrees. Some of the colleges offering a variety of courses in MBA are listed as follows:

University Name

Types of MBA Courses Offered

University of Melbourne

Full-time MBA

Deakin University

Full-time MBA, Part-time MBA, Online MBA

Queensland University of Technology

Full-time MBA, Part-time MBA, Digital MBA, Executive MBA

University of Sydney

Part-time MBA, Full-time MBA, Global Executive MBA

Macquarie University

Full-time MBA

Top MBA Specialisations in Australia

Students are provided with a wide range of MBA specialisation choices that are available across universities in Australia. There are some MBA specialisation options popular among the local as well as international student community:

Top MBA Specialisations in Australia

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

QS and THE Rankings for Top 10 MBA Colleges in Australia

The top 10 MBA colleges of Australia that bagged top places in the QS Global MBA Ranking 2021 and THE World University Rankings 2022 are listed below:

Rankings

QS MBA Rankings Australia 2022

THE Australia Business Rank 2022

1

Melbourne Business School

The University of Queensland

2

UNSW (AGSM)

University of Melbourne

3

Monash Business School

Monash University

4

Macquarie Business School

UNSW Sydney

5

UQ Business School

Australian National University

6

University of Western Australia Business School

Griffith University

7

Australian National University

University of Sydney

8

Uts Business School, University Of Technology Sydney, Australia

University of Technology Sydney

9

Unisa Business School, University Of South Australia, Australia

Queensland University of Technology

10

RMIT University School of Business and Law

University of South Australia

Eligibility for MBA in Australia 

The eligibility criteria for MBA in Australia are more or less the same for all the universities. Some of the basic eligibility requirements for an MBA course applicant are listed below:

  • Applicants should hold a bachelor's degree from a recognised university with a minimum score of 60%.

  • Applicants should score a good GMAT/GRE score. The average GMAT score for getting admission to universities in Australia is 590.

  • Applicants from the country of non-native English speakers are required to pass the English language proficiency proof such as IELTS (minimum score 7.0 approx.) or TOEFL (minimum score 102 approximately)

  • Applicants need to have a Personal statement/statement of purpose and a letter of recommendation from an authorised person.

  • Applicants should have an updated resume with at least two years of work experience.

Admission Process for MBA in Australia

The admission process is subject to the University to which the applicant is applying. However, there are certain steps which the applicant should fulfil in order to get into universities in Australia offering an MBA. The steps to the application are:

Step 1: Understand the entry requirements of a particular university.

Step 2: Arrange supporting documents such as resume, previous study transcript, test results, personal statement and identification documents.

Step 3: Open the admission portal of the university.

Step 4: Provide personal details, education experience and documents.

Step 5: Review all the aspects of the application.

Step 6: Read and accept the declaration.

Step 7: Submit the application form and pay the application fees.

Documents Required for MBA in Australia

Here, we are going to discuss the documents that an international student needs to submit to study MBA in Australia: 

  • Copy of past official transcripts and academic records

  • Bachelor's degree from a recognised educational intuition

  • Resume with at least 2 years of working experience

  • Statement of Purpose (SOP)

  • Letters of Recommendation (LORs) 

  • MBA essays

  • Good GMAT/GRE score card

  • English proficiency test scorecard

  • Passport-size photographs

  • Australian student visa

  • A copy of the passport as ID proof

Cost of MBA in Australia

One of the basic items on the checklist to study abroad should be budget planning. It is important for their basic survival there. For planning the budget, one needs to have an idea of the average tuition fees along with the expenses of living there. For an international student, this budgeting of finances should start even before their arrival in the destined country.

Average Tuition Fees for MBA in Australia

The average tuition fees for a regular MBA in Australia for a first-year student range from AUD 50,000-81,400 (approx INR 29-44 Lakh). The average cost of an MBA in Australia is a bit high-end, but there is a surety of a good return on investment (ROI). Refer to the table stating the tuition fee below:

University/School

Total Course Fee (in AUD)

University of Sydney Business School – Global Executive MBA

25,000

University of Sydney Business School – MBA (Full-time)

52,500 (first-year)

University of New South Wales (AGSM) – MBA Full-Time

78,480

University of New South Wales (AGSM) – MBAX

66,780

University of New South Wales (AGSM) – MBA (Executive)

74,640

University of Melbourne (MBS) – MBA

92,250

Macquarie University (MGSM) – MBA

80,000

University of Western Australia – MBA Full-time Intensive

59,700

Curtin University – MBA (Advanced)

71,840

Monash University – MBA

77,000

University of Technology Sydney – MBA

22,230 (24 credit points)

University of Adelaide – MBA

75,000

QUT Business School – MBA

43,200 (per year)

Bond University – MBA

15,965 (per semester)

Pre-arrival Expenses for MBA in Australia

The pre-arrival expenses for MBA in Australia would cover the costs that international students need before applying to any business school abroad. These expenses include:

Type of Expense

One-Time Cost

Application Fee

AUD 139 approximately

Australian Student Visa Fee

AUD 630 (Base Application Charge)

IELTS Registration Fee

INR 15,500

TOEFL Registration Fee

USD 190

GRE Fee

USD 213

GMAT Fee

USD 275

Cost of Living for MBA in Australia

The cost of living in Australia depends on the standard of living and the location. In general, the average cost for an Indian student living in the country can reach up to INR 7 Lakh. The average cost for an Indian student pursuing MBA in Australia including the university's fee and living expenses ranges from INR 37 Lakh to INR 51 Lakh. Living costs for international students pursuing their MBA in Australia can be understood as follows:

Expense Heads

Average Monthly Cost (in AUD)

Accommodation 

Homestay: 450-1,200
Student Halls: 440-1,100
Apartment: 750-1,700

Utilities

200

Internet

70-120

Fooding

500-1,000

Transportation 

30-70

Books and Other Study Materials

50-100

Health Insurance

30

Scholarships for MBA in Australia

Over 520 scholarships are available to foreign students planning to pursue MBA in Australia. These scholarships play a key role in the education of those international students whose financial budget is low and who are struggling with the cost of living along with the tuition fee.

These scholarships are offered on the basis of the academic brilliance of the individual. Some of the scholarships offered to Indian students pursuing an MBA in Australia are:

Scholarship Name 

Given By

Value (in AUD)

Macquarie University Regional Scholarship

Macquarie University

5,000 (one-time)

Master of Business Administration Global Leaders Scholarship

Deakin University

20% reduction in the total course cost

Business School International Scholarship

University of Sydney

5,000-10,000 (annual)

Job Opportunities After MBA in Australia

One of the main reasons for the popularity of Australia as a hotspot for MBA seekers is the country's 1.5-year work visa. Students can apply for jobs directly after completing their graduation in the country itself. Some of the job opportunities that often open up for the students after getting their MBA degree are:

Job Role

Annual Average Salary (in AUD)

Top Paying Companies 

Project Manager

146,658

Westpac Banking Corp, Telstra Corporation Ltd., ANZ

Financial Analyst

76,940

National Bank Australia, Commonwealth Bank of Australia

Senior Accountant

76,813

KPMG, Crow Horwath LLP, Grant Thorton LLP

HR Manager

91,821

Atherton 

Marketing Manager

81,001

Val Morgan Cinema Network, Ray White, Colliers International

Business Analyst

81,328

Woolworths, Westernpac Banking Corp

Salaries After MBA in Australia

The majority of the graduates of the MBA programme in Australia get a good placement in the country with an average package of USD 80,000. Mentioned below are the average placement packages offered to graduates of some of the top-ranked MBA universities in Australia:

MBA University

Average Annual Salaries (in USD)

Full-time MBA

University of Melbourne

123,000 (INR 96 lakh)

Global Executive MBA

University of Sydney

108,000 (INR 84 lakh)

Full-time MBA

RMIT University, Melbourne

90,000 (INR 70 lakh)

MBA (International)

Deakin University, Burwood

133,000 (INR 1.04 crore)

Full-time MBA

Monash University

146,443 (INR 1.15 crore)

Work Permit and Stay Back Period for MBA in Australia

International students who want to extend their stay in Australia after completing their MBA programme need to apply for a work visa permit. Many often apply for work visas during the tenure of their course.

Students who have completed their MBA can apply for a 'Temporary Graduate Subclass 485' visa which makes them eligible to work for 18 months in Australia. Only students who have studied for a minimum period of 16 months in Australia can apply for a Post Study Work Visa. Students enrolled in a 1-year MBA programme are not eligible for this visa.

The sub-categories of Temporary Graduate Subclass 485 are listed below:

  • For the Graduate workstream: International students who have recently completed their MBA and have acquired certain skills important for a definite job profile can apply for this visa. It permits them to continue to stay in Australia post-graduation and work there for a certain duration. 

  • Post-Study Workstream: This visa is for students who have recently graduated from an Australian university, and want to extend their stay for some time. It temporarily permits them to work, study or live in the country.

  • Second-Post Study Workstream: Those students can apply for this visa who have already completed the duration of the post-study work stream visa. It gives them an extension to stay in the country.

MBA in Australia FAQs 

Q. What is the duration of an MBA in Australia? 

A. The average duration of an MBA in Australia ranges from 16 months to 24 months. There are different types of MBA programmes offered by the universities in Australia.. There is also an option of 1-year MBA programmes for both domestic and international students. 

Q. What are the eligibility criteria for an MBA in Australia? 

A. The eligibility criteria for MBA in Australia generally require the applicants to hold a bachelor's degree from a recognised educational Institute with a minimum of 60% marks along with two years of work experience. Some of the universities also require GMAT/GRE scores and a test like IELTS/TOEFL to test the applicant's English proficiency.

Q. Is it mandatory to submit an SOP for MBA in Australia?

A. Yes, it is mandatory for an international applicant to submit an SOP for an MBA in Australia. However, some universities may ask for a personal statement instead of an SOP. Apart from an SOP, an applicant will also have to submit a letter(s) of recommendation (LORs) while applying to the university. Failure to submit either of these can lead to the rejection of the application.

Q. Can MBA students work part-time or full-time in Australia? 

A. Yes, MBA students in Australia are allowed to work part-time or full-time in Australia, provided they have a work permit visa. Australia, as of June 2022, has no restriction on the number of hours students can work while studying in Australia. Moreover, the post-study work visa in Australia is available for the fresh MBA graduates, permitting them to work full time for 2-4 years. 

Q. Which companies are the top recruiters of MBA graduates in Australia? 

A. Some of the top recruiters of MBA graduates in Australia include Coca-Cola, IBM, ANZ, Barclays, Amazon, Alphabet, ResMed, EY, BHP Billiton, P&G, HSBC, Macquarie Group, and Commonwealth Bank. Students completing their MBA degrees in Australia have a better placement record with strong career outcomes. 

Q. What are some of the most famous MBA specialisations offered by Australian universities? 

A. Some of the most famous MBA specialisations offered by Australian universities include e-commerce, Finance, Strategy & Leadership, International Business, Marketing, Human Resource Management, Information Technology, Tourism Management, and Accounting. All of these are widely popular among international students looking forward to studying abroad.

Q. What is the average cost of an MBA in Australia? 

A. The average cost of MBA in Australia, for first-year students, is around INR 29 Lakh to INR 44 Lakh, and the average living expense for an international student can reach up to INR 7 Lakh. The living expenses can change according to the location and the student’s lifestyle. 

Q. What test scores are needed for admission to MBA in Australia? 

A. For admission to MBA in Australia, international students need to submit a good GMAT/GRE score card along with the exams that test the applicant's English proficiency like IELTS/TOEFL. Not all universities require a GMAT/GRE scorecard for admission, but generally, they do, so applicants are required to go through the university's eligibility criteria before filling out the application form.

Q. Are there any scholarships available for international students studying MBA in Australia? 

A. There are more than 520 scholarships available for international students pursuing MBA in Australia. These scholarships are offered based on the candidate's academic excellence, so the meritorious students having difficulty bearing the expense of living along with tuition fees can apply for these scholarships. These scholarships may be offered by the government, university or external organisations.

Q. Is there any additional benefit of pursuing a dual MBA in Australia? 

A. The main benefit of a dual MBA in Australia is that the applicant gets to complete two master’s degrees at the same time. Moreover, apart from an MBA programme, students can pursue a degree in a non-business field like education, medicine, engineering, nursing, science, etc.

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