One of the most popular study abroad countries is Australia. Australia is one of the top five study locations for international students looking to pursue an MBA abroad, according to the QS ranking. To advance their careers, today’s graduates desire to get an MBA (Master of Business Administration). Going after it from a well-known overseas location puts one ahead of the pack. Additionally, it provides MBA professionals a good start in their jobs. Australian business programmes are famous for their high quality standards and widespread acceptance. Australia is one of the best locations for postgraduate study among the top locations. You made the right choice if you decided to pursue an MBA in Australia. Australia is a multicultural nation that continues to be a top choice for international students looking to pursue higher education abroad. Among master’s degrees, a Masters in Business Administration (MBA) is the most desirable.
Australia is a popular choice for MBA applicants looking for a top-notch education, top-notch research possibilities, and outstanding career prospects. AACSB, AMBA, and EQUIS accreditation is granted to all Australian business schools. They are well-liked choices among international students and are highly regarded not only in Australia but also internationally. In Australia, a typical MBA programme lasts between 15 months and two years. But many universities also provide a one-year MBA programme.
In this article we will explore the details of pursuing an MBA Degree in Australia, starting with, Why pursue an MBA Degree from Australia-
- Australia’s MBA is a globally recognized degree because the AQF produces comparable credentials for office use.
- If you pursue an MBA in Australia, you can expect to graduate with high-caliber, internationally recognized credentials. It can considerably accelerate the development of your career in your home nation or anywhere else in the world.
- Australia is home to about 75 MBA programmes that are accredited internationally. The EQUIS and AACSB have granted global accreditation to many of the study programmes.
- Australian management programmes give their students a mix of practical and theoretical expertise. The improvement of leadership, communication, and interpersonal skills is its main objective.
- International MBA students in Australia are allowed to work 40 hours a week in addition to their studies. Check: possibilities for part-time employment for foreign students in Australia.
- Every year, Australia offers more than 45,500 employment openings to MBA graduates.
- Only in Australia do more than 6,000 positions open up each year for Finance MBA graduates.
- According to the QS Global MBA Ranking 2021, five Australian business schools are in the top 100 business schools worldwide.
- Some of the most well-known organizations in the world, including EQUIS, AACSB, and AMBA, have approved business schools in Australia that provide MBA programmes. As a result, it is known everywhere.
- Australia has been listed by QS News as one of the top nations for MBA wages in 2020. It is ranked fifth with average incomes of 98,400 USD, falling behind nations like the UK (92,400), Japan (80,000), and Germany (77,200).
Let’s now look at some of the Top Universities in Australia for an MBA Degree-
- University of Melbourne’s Melbourne Business School– One of the best business schools in Australia is the Melbourne Business School at the University of Melbourne. The B school provides hands-on business experience in a fascinating city. The Economist rates Melbourne Business School’s MBA programme as the top one in Australia. The curriculum provides a wealth of information and possibilities that are applicable to real-world situations. It is one of Melbourne’s best business schools.
- University of New South Wales’ Business School– The University of New South Wales’ Australian Graduate School of Management places a strong emphasis on educating students for positions in executive leadership and general management in the commercial and public sector. It is regarded as one of the top business schools in Australia. This university’s MBA programme blends classroom instruction with teamwork and experiential learning. Your capacity for making decisions is enhanced.
- Monash University’s Monash Business School- In Australia, Monash University enjoys a solid reputation. The study options for an MBA include:
- Consulting initiatives
- Modules based on experience
- Opportunities for collaboration with foreign industries
- Macquarie University’s Macquarie Business School- The MBA and Global MBA study programmes at Macquarie University’s business school equip students with the abilities to manage and have an impact on a variety of possibilities in a dynamic international economy. One of the top MBA colleges in Australia for foreign students is Macquarie’s business school.
- University of Queensland’s UQ Business School- The Brisbane city core is where the UQ Business School is situated. The Economist has ranked it as the top MBA programme globally for the fifth consecutive year. For overseas students, it is one of the top Australian business schools. You are given all the knowledge and abilities necessary to resolve challenging business issues at the UQ Business school.
- University of Western Australia’s UWA Business School- Perth is home to the University of Western Australia’s Business School. It offers a challenging and flexible MBA education programme. You can get the abilities, information, and connections you need at the UWA Corporate School to manage senior leadership positions in the global business environment.
- Australian National University’s ANU College of Business and Economics- The list of top business schools in Australia would be incomplete without mentioning the ANU College of Business and Economics. The Australian National University has a relationship with the B school. You have the chance to improve your business and management abilities and advance to higher management positions by enrolling in the MBA study programme at this B School.
- University of South Australia’s UniSA Business School- A successful career in company management is made possible by an MBA from UniSA Business School. It is regarded as one of Australia’s top institutions. The UniSA Business School of the University of South Australia offers MBA programmes. On decision-making at the levels of senior management, it has a strong pragmatic focus. Your career’s progress is accelerated by it.
- University of Technology Sydney’s UTs Business School- Another excellent business school in Australia is UTs. It strives to develop in its students the abilities necessary for strategic planning and critical thinking so that they are ready for managerial jobs in the future. The MBA programme at UT’s Business School offers its students a flexible schedule. It assists in laying a strong basis for basic business knowledge, which allows them to hone their chosen expertise and so expand their skill set.
- University of Wollongong’s Sydney Business School– The University of Wollongong is associated with the Sydney Business School. The University’s Business Faculty, which was previously noted, facilitates it. In the top 200 business schools in the world, the B school is ranked. It is without a doubt one of the top Australian MBA colleges for foreign students. Sydney Business School consistently equips its students for success in their chosen fields of employment.
Average cost of studying MBA in Australia-
According to a poll conducted in 2021, an MBA degree typically costs 59,966 AUD per year. Additionally, costs have increased by 3.34% from the previous year. For overseas students, the average annual cost of an MBA will be between 45,000 and 822,000 AUD. The tuition costs typically change depending on the university and course you select. But there’s no need to freak out or be perplexed about the expenses part. By utilising any of the appropriate scholarships provided by Australian government and agencies, you can finance it. The overall annual living expense for an international student in Australia is projected to be $14,432 USD by the Australian Department of Home Affairs. This includes travel, lodging, food, literature, supplies, personal expenses, and other costs.
Financial Aids and Scholarship
In Australia, MBA students can apply for a variety of foreign scholarships. The following is a list of some of the other well-known business schools and scholarships accessible to international students in Australia-
- Australia Awards Scholarships- The Department of Foreign Affairs and Trade is in charge of administering Australia Scholarships Scholarships, which are long-term awards. With the aim of assisting in the development needs of Australia’s partner countries in accordance with bilateral and regional agreements, the scholarship offers opportunities for residents of developing nations, particularly those in the Indo-Pacific region, to pursue full-time undergraduate or postgraduate study at participating Australian universities and Technical and Further Education (TAFE) institutions.
- ACU Destination Australia International Scholarship- The Destination Australia Scholarship Program is designed for deserving students who want financial assistance to reside and pursue their education in regional Australia. The Australian Department of Education is responsible for funding the scholarships, which are offered to both native and foreign students. This ACU Destination Australia International Award is a merit-based scholarship available to both domestic and international students, making it one of the many scholarships offered in Australia. The scholarship exclusively covers the full-time undergraduate tuition costs at Australian universities.
- Australia Research Training Program (RTP) Scholarship– Out of all the scholarships offered in Australia, the Australia Research Training Program (RTP) Scholarship is only available to foreign students who intend to enrol in a research master’s or degree programme. It includes a grant stipend for living expenses in addition to paying the entire tuition rate. The RTP scholarship has a duration limit of two years for research master’s degrees and three years for research doctorates. This scholarship is worth approximately AUD 28,587 year, paid biweekly. On the basis of academic merit and research potential, AGRTP-International scholarships are given to postgraduate researchers from abroad* who have demonstrated extraordinary promise.
Eligibility Criteria for pursuing MBA in Australia–
- Any field bachelor’s degrees, some schools prefer a degree of certificate in business-related fields.
- At least 65% in bachelor’s degrees
- A current resume
- At least two letters of recommendation from former employers or professors
- Face-to-face, over a video call, or phone, interview.
- Having a high GMAT or GRE score
- Two years or more of managerial or business-related experience
- English language proficiency required Australian universities only offer English-language programmes, thus international students must present IELTS scores as proof of their language skills. Students with IELTS scores of roughly 6.5 to 7.0 can easily acquire admission into the prestigious colleges in Australia that offer an MBA.
Documents required for pursuing MBA in Australia-
The following documents must be submitted by applicants at the time of admission for the admissions process-
- a current passport
- filled-out application and two passport-size pictures
- original and genuine school and/or college transcripts
- A résumé
- reference letters
- any necessary essays
- Statement of Purpose
- Loan applications
- financial records
- Essay for a scholarship, if applicable
- other supporting documents required by the university
Post-study Work Opportunities for MBA Graduates-
One of Australia’s many trademarks is its abundance of lucrative employment opportunities. Do you know what the average yearly pay is for the various job roles? MBA graduates can expect to make about 95,000 AUD annually. Global leaders and top recruiters are prepared to offer top dollar to MBA grads. The primary drivers of this need are developing startups, SME’s, and well-known companies in Australia. MBA graduates are in demand across a variety of industries, including banking, corporate management, consulting, manufacturing, and technology.
Student Visa to Study MBA in Australia
To enrol and finish their MBA courses or programmes in Australia, international applicants and students must hold an Australian student visa. You can do the same by submitting a visa application online, paying 620 AUD, and providing the supporting documentation listed below-
- current passport
- Genuine ID proof
- letter of acceptance or offer from an Australian university
- details of health insurance
- English proficiency test results and certificate
- photos the size of a passport (recent)
- a request form (duly filled and signed)
Admission Process for studying MBA in Australia–
- Step 1: Fill the online application form on the official website of any Australian university.
- Step 2: Complete the application form and submit the requested scanned copies of your papers and documents.
- Step 3: Download the application form, complete it, and submit it. You must also pay the application fees (if any).
- Step 4: Online interviews would take place after the evaluation process.
- Step 5: If you are a qualified applicant, the university will mail you an official invitation letter or offer letter.
- Step 6: Submit an application for a student visa and let the college know when you plan to arrive.
A solid MBA is seen as a key to success. It is advantageous for networking as well as job advancement because it improves the abilities needed to stay competitive in the field. There are several reasons to seek an MBA and gain the abilities and information needed to advance one’s career vertically. Students taking an MBA course learn how to effectively run a firm and how to adjust to the most recent global trends. Students who complete this programme also learn how to manage a firm in an uncertain climate and turn it around in a crisis.
Australia is a multicultural nation that continues to be a top choice for international students looking to pursue higher education abroad. Among master’s degrees, a Masters in Business Administration (MBA) is the most desirable. Study MBA in Australia with myglobaluni.
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