Content Strategy Manager | Updated On - Apr 30, 2024
Highlights:
- MBA in Australia is offered across 50 universities like Macquarie University, University of Melbourne, and Monash University.
- MBA course in Australia is offered with finance, marketing, IT, International Business, and Supply Chain Management specializations.
- The annual cost of pursuing an MBA in Australia for an Indian student ranges from AUD 21,800 to 106,650, making it a cost-effective option than the USA.
- MBA graduates in Australia can earn an average annual salary of AUD 106,000, with experienced professionals earning up to AUD 180,000.
- Australia offers a Post-Study Work visa for MBA graduates allowing you to work in Australia for up to 4 years after your studies.
- According to the Australian Bureau of Statistics, Management Consulting (25%), Finance & Banking (20%), and Technology (15%) are the top industries employing MBA graduates in Australia.
MBA in Australia is a 1 to 2.5-year postgraduate program, offered in both full-time and part-time mode. To get admission to the MBA in Australia program, you need an undergraduate degree with 60 to 70% and a 600+ GMAT score. The top MBA colleges in Australia also require a minimum work experience of 2-3 years from international applicants. However, some universities like RMIT University and University of New Castle offer MBA in Australia without GMAT and work experience requirements.
According to the Australian High Commission in New Delhi, 1 out of 5 Indian students choosing Australia for higher education opt for an MBA program due to Australia’s globally recognised business schools. There is a rising demand for MBA graduates in the Australian economy with 91% of MBA graduates securing jobs within 4 months of their graduation with high return on investment. By investing in an average tuition fee of AUD 75,000 annually, you can earn a starting salary of AUD 106,000 after your MBA in Australia.
Take Macquarie University as an example. Their MBA program has a 10-year ROI of AUD 380,950. This means, their graduates observe a significant jump in salary post-MBA.
Top MBA Colleges in Australia
Australian Business Schools are known for their high-quality business education with 14 Australian universities offering QS-recognized MBA programs. Melbourne Business School ranks 24 worldwide and 1 in Australia with its quality program and available research opportunities.
| QS University Rankings 2024 | University and Program | Tuition Fees in AUD | Application Deadlines |
|---|---|---|---|
| #24 | University of Melbourne MBA | 106,650 | May 20, 2024 |
| #=19 | University of Sydney MBA | 55,000 | June 2, 2024 |
| #=19 | University of New South Wales Sydney MBA | 81,720 | February 1, 2024 (Closed) |
| #=34 | Australian National University MBA | 48,035 | January 31, 2024 (Closed) |
| #42 | Monash University MBA | 73,000 | August 31, 2024 |
| #43 | University of Queensland MBA | 91,421 | April 30, 2024 |
| #72 | University of Western Australia MBA | 47,600 | December 8, 2024 |
| #89 | University of Adelaide MBA | 49,900 | August 12, 2024 |
| #130 | Macquarie University MBA | 21,800 | June 10, 2024 |
| #140 | RMIT University MBA | 48,000 | July 29, 2024 |
| #162 | University of Wollongong MBA | 61,416 | August 13, 2024 |
| #183 | Curtin University MBA | 41,420 | July 22, 2024 |
| #242 | La Trobe University MBA | 60,300 | July 2024 |
| #326 | University of South Australia MBA | 43,800 | April 15, 2024 |
| #711-720 | Victoria University MBA | 35,200 | June 9, 2024 |
Check More: Top MBA Colleges in Australia
Top MBA Courses in Australia - Popular Specializations
Some of the most popular and sought-after MBA courses in Australia, along with trending specializations are:
| Specializations | Potential Career Paths | Average Starting Salary (AUD) |
|---|---|---|
| Master of Business Administration (MBA) | General Management, Business Analyst, Consultant | 105,000 |
| MBA in Finance | Investment Banker, Financial Analyst, Corporate Finance Manager | 110,000 |
| MBA in Marketing | Marketing Manager, Brand Manager, Product Marketing Manager, Digital Marketing Specialist | 95,000 |
| MBA in Human Resource Management | HR Manager, Talent Acquisition Specialist, Employee Engagement Specialist | 90,000 |
| MBA in Information Technology (IT) | IT Consultant, Business Systems Analyst, IT Project Manager | 100,000 |
| MBA in International Business | International Business Development Manager, Export Manager, Global Supply Chain Manager | 115,000 |
| MBA in Entrepreneurship | Entrepreneur Venture Capitalist, Startup Incubator Manager | 85,000 |
| MBA in Supply Chain Management | Supply Chain Manager Logistics, Planner Procurement Specialist | 100,000 |
MBA in Finance in Australia is the most sought-after specialization for MBA aspirants in Australia. The average base salary for finance professionals with an MBA is AUD 110,000.
Why Choose Australia for MBA?
India is the second highest contributor of international students (9.78%) in Australia after China. An MBA from Australia is valued across the globe, attracting over 80% of international applicants. You should choose Australia for your MBA degree as -
- High Employability for Graduates: Earning an Australian MBA leads to strong employment prospects.
- Over 91% of MBA graduates in Australia secure full-time jobs with a median starting salary of AUD 95,000.
- Strong Employer Demand: The Bureau of Labor Statistics projects a 10% job growth for general business occupations between 2023 and 2033.
- Specialized MBA fields like IT are expected to see over 13% growth rates.
- Top-Ranked Business Schools: According to the QS World University Rankings 2024, 14 Australian universities offer QS-recognized MBA.
- The University of Melbourne ranks an impressive #24 globally for its MBA program.
- Post-Study Work Visa Opportunities: The Australian government offers the Subclass 485 Visa, which allows MBA graduates to work in the country for 4 years.
- This post-study work can lead to permanent residency in Australia.
- GMAT Flexibility: Australian universities offer MBA courses with flexible GMAT requirements.
- Some universities such as the University of Adelaide and RMIT University waive off GMAT scores for admission to MBA in Australia.
- Affordability: The MBA courses in Australia are more reasonable than the degrees in US universities, attracting more international students.
- MBA in USA can cost you around INR 41 Lakhs to 1 crore.
- The cost of pursuing MBA in Australia ranges from INR 11 Lakhs to 54 Lakhs.
Check Out: Australia or USA: Which is the Better Country to Study?
Admission Process for MBA in Australia
The admission process for an MBA program in Australia can be competitive. With over 80% of international students applying for the program, are you wondering how to make your application stand out? Let us have a look at the eligibility criteria and application timeline for admission to MBA in Australia.
When to Apply?
Admissions to Australian universities take place in generally two main intakes
- February Intake
- July Intake
Eligibility Criteria for Admission to MBA in Australia
The eligibility criteria for admission to MBA in Australia vary as per the university. The minimum eligibility requirements are as follows -
| Parameter | Minimum Admission Requirement |
|---|---|
| Academic Requirement | 3 or 4-year bachelor’s degree, with a minimum score of 60% |
| GMAT Score | 600 + |
| IELTS Score | 6.5 - 7.0 |
| PTE Score | 65 - 75 |
| TOEFL Score | 95 to 102 |
| Work Experience | 2 to 3 years |
| Additional Documents Required | 2 LORs, SOP, Official Transcripts, Admission Essays |
*Note: Some colleges in Australia offer admission to MBA programs without GMAT scores and work experience.
Once you have applied with all the above documents and received an offer from the university, you need to apply for an Australian student visa to study in the country.
Australian Student Visa
To pursue an MBA in Australia, you'll need to secure a subclass 500 visa. This visa is granted to individuals enrolled in a full-time registered course. The Australian visa application fee is around AUD 650.
MBA in Australia: University Admission Requirements
The eligibility criteria to apply across some of the best MBA colleges in Australia are provided in the following table:
| University | GPA | GMAT Score | Work Experience |
|---|---|---|---|
| Australian National University | 5.0 on a 7.0 scale (60-69%) | 600 | 5 years |
| University of Melbourne | 65% | 695 or higher | 2 years |
| University of Sydney | 65% | 600 | 3 years |
| University of New South Wales Sydney | An undergraduate degree (no minimum GPA) | 650+ | 2 years |
| University of Queensland | 4.5 on a 7.0 scale (60-65%) | 550 | 4 years |
| Monash University | Australian bachelor’s degree or equivalent | Not required | 3 years |
| University of Western Australia Business School | 50% | 650 | 3 years |
| University of Adelaide | Bachelor’s degree (no minimum GPA) | 650 | 2 years |
MBA in Australia: Admission Scenario
The admission to MBA in Australia can be highly competitive. Data on MBA application trends reveals that around 30-40 Indian applicants apply to each MBA program at Australian universities.
- Offers: Approximately 39% of Indian applicants with a competitive profile and strong application receive offers of admission.
- Waitlisted: Around 19% of applications with strong credentials are placed on the waitlist. Their admission decision depends on the availability of seats.
- Rejected: 42% of the applications are ultimately rejected due to high competition.
Let us look at 10 students, out of which 4 got admission to the universities, 2 were waitlisted and 3 were rejected. Based on the scatter plot of 10 applicants' GPA, GMAT scores, and application statuses, here's what we can understand –
Admitted Students
- Out of 10 applicants, only 4 were admitted (represented by green circles) to the universities of their choice.
- GMAT Scores: Admitted students had GMAT scores ranging from 600 to 680.
- GPA Range: Their GPAs fell within the range of 4.0 to 4.8.
Waitlisted and Rejected
Three applicants were waitlisted (yellow circles) and the remaining 3 were rejected (red circles).
- Waitlisted students had GPAs between 4.1 and 4.2 and GMAT scores from 620 to 630.
- Rejected students' scores varied more widely, with GPAs from 3.5 to 5.2 and GMAT scores of 500 to 580.
Possible Reasons for Rejection:
- Lower GPAs or GMAT scores: The rejected applicants have had GPAs or GMAT scores below the average of admitted students.
- The application process also considers factors beyond GPA and GMAT scores, such as work experience, essays, letters of recommendation, and fit with the program. Weaker applications in these areas could lead to rejections.
MBA programs in Australia are competitive. Even with good scores, some applicants might be rejected due to a high volume of qualified candidates.
Read More: MBA in Australia Admissions
Cost of Studying MBA in Australia
The cost of studying MBA in Australia can be divided into 3 categories - pre-arrival cost, tuition fees and cost of living in the country.
Pre-Arrival Costs
Before starting your studies, you need to budget your expenses for exam registrations and applications. The common pre-arrival costs to study MBA in Australia are -
| Category | Cost (AUD) |
|---|---|
| Application Fee | 110 |
| Australian Student Visa | 650 |
| IELTS | 220 - 250 |
| TOEFL | 165 - 255 |
| GMAT | 250 |
MBA in Australia Tuition Fees
The tuition fees to pursue MBA in Australia widely vary between AUD 21,800 to 106,650 per annum (INR 11.8 to 57.8 Lakhs). Let us look at the tuition fees across some of the top universities –
| University | Annual Tuition Fees in AUD | Annual Tuition Fees in INR |
|---|---|---|
| University of Melbourne | 106,650 | 57.8 Lakhs |
| University of Sydney | 55,000 | 29.8 Lakhs |
| University of New South Wales Sydney | 81,720 | 44.2 Lakhs |
| Australian National University | 48,035 | 26.2 Lakhs |
| Monash University | 73,000 | 39.5 Lakhs |
| University of Queensland | 91,421 | 49.5 Lakhs |
| University of Western Australia | 47,600 | 25.7 Lakhs |
| University of Adelaide | 49,900 | 27.1 Lakhs |
| RMIT University | 48,000 | 26.1 Lakhs |
| University of Wollongong | 61,416 | 33.2 Lakhs |
| La Trobe University | 60,300 | 32.6 Lakhs |
Affordable Universities for MBA in Australia
Although pursuing MBA in Australia is a significant investment, some universities offer the cheapest MBA in Australia. You can pursue the degree at these universities at less than INR 25 Lakhs annually.
| University | Annual Tuition Fees in AUD | Annual Tuition Fees in INR |
|---|---|---|
| Macquarie University | 21,800 | 11.8 Lakhs |
| Victoria University | 35,200 | 19.1 Lakhs |
| Curtin University | 41,420 | 22.4 Lakhs |
| University of South Australia | 43,800 | 23.7 Lakhs |
Read More: Cheapest MBA in Australia for Indian Students
Cost of Living in Australia
The cost of living in Australia ranges from AUD 18,000 to 46,080 (INR 9.87 to 25.28 lakhs) based on the accommodation type, location, and personal lifestyle. A breakdown of the cost of living in Australia is provided in the following table:
| Expense Type | Average Annual Expense (AUD) | Cost Equivalent (INR) |
|---|---|---|
| On Campus Accommodation | 5,280 to 13,440 | 2.86 to 7.28 lakhs |
| Off Campus Accommodation | 8,880 to 21,120 | 4.86 to 11.57 lakhs |
| Phone and Internet | 720 to 1,440 | 39,455 to 78,915 |
| Groceries | 6,720 to 13,440 | 3.68 to 7.36 lakhs |
| Public Transport | 1,440 to 2,880 | 78,927 to 1.57 lakhs |
| Miscellaneous | 3,840 to 7,200 | 2.10 to 3.94 lakhs |
| Total | 18,000 to 46,080 | 9.86 to 25.24 lakhs (approx.) |
Check in Detail: Cost of Living in Australia
Scholarships for Indian Students Pursuing MBA in Australia
International students pursuing an MBA in Australia can fund their expenses with numerous scholarships for international students in Australia. Some of the most popular MBA scholarships in Australia are listed in the table below:
| University | Scholarship | Eligibility | Award Value |
|---|---|---|---|
| Melbourne Business School | Kraft Heinz Scholarship | Full time and part time MBA applicants | 5 awards, 12,000 AUD each |
| Melbourne Business School | MBS Scholarships | Students pursuing Full-time MBA, Executive MBA, Senior Executive MBA | Variable |
| Melbourne Business School | Diversity Excellence Scholarships | Full time MBA students | 50,000 AUD |
| Adelaide Business School | Adelaide MBA Scholarships | Formal application for entry into the full time Adelaide MBA program | Tuition fees |
| University of Sydney | UOW Postgraduate Academic Excellence Scholarship | International student with at least 75% overall score | 30% tuition fee |
| University of Sydney | UN Women NC MBA Scholarships in Australia | Students eligible for admission to the part time MBA | 60,000+ AUD |
Check Out: Scholarships to Study in Australia
Job Scope and Opportunities after MBA in Australia
Australia opens up more than 45,500 job vacancies annually for MBA degree holders, offering significant employment opportunities. To work in Australia, you need to apply for an Australian work permit.
Australian Work Permit - Post-Study Work Visa (Subclass 485)
Australian Post Study Work Visa is the most common option for recent Australian MBA graduates seeking work experience. It allows you to stay and work in Australia for 18 months after completing your studies.
Eligibility:
- You must have completed a full-time MBA program.
- You must have completed at least 92 weeks (or 2 academic years) of your program in Australia.
Additional Options to Consider:
- Skilled Visa (Subclass 189): This visa targets skilled professionals with occupations listed on Australia's Skilled Occupation List (SOL).
- Temporary Skill Shortage Visa (Subclass 482): If your skills align with occupations experiencing a shortage in Australia, you might be eligible for this visa sponsored by an employer.
Jobs after MBA in Australia
Some of the common jobs in Australia for international students completing an MBA and their respective salaries according to Payscale are as follows:
| Profession | Average Salary in AUD | Salary Equivalent INR |
|---|---|---|
| Accountant | 65,000 | 35.26 lakhs |
| Business Development Manager | 90,000 | 48.82 lakhs |
| Marketing Manager | 91,000 | 49.37 lakhs |
| Operations Manager | 104,000 | 56.42 lakhs |
| Project Manager | 109,000 | 59.13 lakhs |
| Finance Manager | 102,000 | 55.33 lakhs |
| Senior Business Analyst | 111,000 | 60.20 lakhs |
| Human Resource Manager | 104,146 | 56.48 lakhs |
| Regional Sales Manager | 114,000 | 61.84 lakhs |
Check Out: MBA Jobs in Australia for International Students
The top employers of MBA graduates in Australia are JP Morgan, Telstra, Barclays, Allianz, Westpac Banking Corp, Woolworths, and HSBC Global Asset Management among others.
MBA in Australia - Student’s Experience
Rohit Lingenini, who pursued an MBA from the University of Melbourne (ranked #1 in Australia by QS World University Rankings 2024), shared his experience:
"Coming to Australia for my MBA was a transformative decision. The program at Melbourne Business School was practical, with a strong focus on innovation and emerging Asian markets. After graduation, I landed a position as a Management Consultant at McKinsey & Company with a starting salary of AUD 160,000. The Australian MBA experience has helped me gain skills contributing to my career growth."
MBA in Australia Return on Investment
Universities in Australia provide excellent return on investment to MBA graduates. A comparison of the annual tuition fees and average annual salary after graduation across the top universities in Australia is provided in the following table:
| University | Annual Tuition Cost in AUD | Average MBA Graduate Salary in AUD |
|---|---|---|
| Australian National University | 48,035 | 128,000 |
| University of Melbourne | 106,650 | 174,000 |
| University of Sydney | 55,000 | 150,000 |
| University of New South Wales Sydney | 81,720 | 146,000 |
| University of Queensland | 91,421 | 130,000 |
| University of Western Australia | 47,600 | 180,000 |
| RMIT University | 48,000 | 106,000 |
| University of Newcastle | 27,600 | 136,000 |
| Deakin University | 31,600 | 180,000 |
| Victoria University | 35,200 | 150,000 |
Australia is a top choice for international students seeking MBA abroad. Australian universities are known for their globally recognized degrees, and the program's focus on practical skills prepares MBA graduates for management roles. Over 90% of MBA graduates in Australia secure full-time employment within three months of graduation. Top recruiters like McKinsey & Company and BHP actively seek MBA graduates in Australia, offering an average salary of AUD 115,000 annually.
Frequently Asked Questions
Ques. How much does an MBA cost in Australia?
Ans. The cost of an MBA in Australia can vary widely, ranging from approximately AUD 21,800 to AUD 106,650 per year. Top universities like Melbourne Business School or AGSM typically have higher tuition fees.
Universities with relatively Lower Tuition Fees are:
- University of Southern Queensland (USQ)
- Griffith University
- La Trobe University
Universities with higher tuition fees for MBA in Australia are:
- Melbourne Business School (University of Melbourne)
- Australian Graduate School of Management (AGSM) - University of New South Wales
- Macquarie Graduate School of Management
Ques. What are the admission requirements for MBA in Australia for international students?
Ans. The admission requirements for MBA programs in Australia for international students vary depending on the university, but some common requirements include:
- A bachelor's degree or equivalent
- Average IELTS score of 6.5 or equivalent | PTE score: 65-75
- Letters of recommendation
- Statement of purpose
- Resume/CV
- Work experience (usually 2-5 years)
Ques. Is MBA in Australia in demand?
Ans. The strong demand for MBA graduates from Australian universities across top employers makes it an in-demand program. Currently, MBA graduates in Australia typically earn an average salary of 114,000 AUD (62.46 lakhs INR).
Ques. Can I get PR after MBA in Australia?
Ans. As an Indian student, you might be eligible to work, stay and pursue higher education after an MBA with a PR. You need to satisfy the General Skilled Migration rules to avail the Australian PR.
Australia uses a points-based system for skilled migration. An MBA can contribute points towards your application.
Ques. Are there any scholarships available for international students pursuing MBA programs in Australia?
Ans. Yes, there are several scholarships available for international students pursuing MBA programs in Australia. These scholarships in Australia can cover up to the full tuition fees of the student. Some of the popular scholarships are as follows:
- Australia Awards Scholarships
- Endeavour Postgraduate Scholarships
- MBA scholarships offered by individual universities
Ques. What are the top universities in Australia offering MBA for international students?
Ans. Some top universities in Australia offering MBA programs for international students are:
- University of Melbourne
- Australian National University
- University of Queensland
- University of Sydney
- Monash University
Ques. Which MBA course is in demand in Australia?
Ans. MBA in International Business is one of the most popular MBA specializations in Australia. MBA in Marketing, Finance, Human resources, entrepreneurship, and Economics are some of the equally important MBA specializations in Australia.
Ques. Can I apply for an MBA in Australia without a GMAT?
Ans. Some popular Australian universities offering MBA programs that don't require GMAT scores are -
- Monash University
- Macquarie University
- Deakin University
- Griffith University
Ques. After an MBA in Australia, which job offers the highest salary?
Ans. Some industries tend to offer high salaries for MBAs in Australia such as:
- Management Consulting: AUD 150,000
- Investment Banking: AUD 200,000
Leadership positions in various industries make use of the MBA skills of individuals and can offer profitable salaries.
Ques. Which country is best for MBA?
Ans. Australia is a strong choice for an MBA as -
- Australia has several world-class business schools like Melbourne Business School and the Australian Graduate School of Management (AGSM) at the University of New South Wales.
- Australian MBA programs often have a focus on innovation and entrepreneurship, which are valuable skills in today's business world.
- Compared to the US, Australian MBA programs are typically shorter, lasting 1.5 to 2 years.
Australia is a highly multicultural country, which can be a valuable asset for developing your business skills.
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