MBA in Australia Guide - Cost, Eligibility for Indian Students
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MBA in Australia Guide - Cost, Eligibility for Indian Students

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Aishwarya
Aishwarya Bhatnagar
Study Abroad Expert
Updated on Aug 28, 2023 14:39 IST

Australia is one of the top study destinations for international students. As per the QS ranking, Australia is among the top five study destinations for international students who want to pursue an MBA abroad. According to the Australian High Commission in New Delhi, there were 1,00,009 Indian students studying in Australia in November 2022 out of which 20,000 were enrolled for an MBA in Australia. Around 80% of the admitted students for an MBA in Australia were international students.

mba in australia

Nowadays, every graduate wants to pursue an MBA to give a boost to his/her career. Pursuing it from a prominent international destination definitely keeps one ahead in the league. It also gives a head start to MBA professionals in their careers. However, aspirants face the dilemma of the process of applying to foreign universities.

In this article, we have summarized details about the application procedure, estimated cost plus the total duration of an MBA in Australia. There are also details about the eligibility criteria, job opportunities and MBA scholarships available for international students in Australia.

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MBA in Australia Highlights

Total Universities Offering MBA in Australia 30+
MBA Course Duration 2 years
MBA in Australia Year Division Semester wise
Admission Requirements Bachelors's, GMAT, IELTS/TOEFL/PTE, Work Experience
Average Tuition Fee AUD 54,000 annually
Internship / Placement Opportunities  Offered by Australian Universities
Specializations Offered 05
MBA in Australia Offered Full-time / Part-time / Online
Types of MBA in Australia General MBA, MBA Executive and MBA with specialization
Average Salary AUD 98,500

Check: Why study in Australia?

Top Ranking MBA Universities in Australia

Australia is considered one of the most sought-after study destinations for international students. Quality education, high-end research opportunities, and excellent career prospects make Australia a hot favourite study destination for MBA aspirants. All Australian Business Schools are AACSB, AMBA and EQUIS accredited. They are popular options among international students and have been ranked highly in not just Australia but globally as well.

Australian Universities MBA - QS World Ranking 2023

When it comes to pursuing MBA, Australia is a hot-favourite study destination for MBA aspirants in the Asia-Pacific. Business and management schools are assessed on factors like imparting academic skills, research excellence, and employability. The following table shows the top Australian universities ranking as per QS for 2023 for Global MBA:

Australian Business Schools  
Parent University
QS Subject Ranking 2023 (Global MBA)
Melbourne Business School  
#27
UNSW Sydney Business School 
#31
Macquarie Business School  
#82
Monash Business School
#84
UQ Business School  
#87  
UWA Business School 
#111-120
ANU Business School
#121-130
RMIT School of Business
#151-200  

 
 
 
UniSA Business School
Wollongong Sydney
UTS Business School 
Curtin Business School
#201-250

 
La Trobe Business School
Victoria University
#251+

Read more about Australia University Rankings 2022-23

Apart from this, favourable visa policies also draw a lot of students to pursue their higher studies in Australia. The universities in Australia are internationally recognised and offer courses in the most preferred language, i.e. English. Management courses in these universities focus on imparting leadership qualities and giving real-world experience by offering internships in top companies. There are two main intakes for applying to Australian universities:

Why Study MBA in Australia?

A good MBA degree is considered a gateway to success. It is not only beneficial for one's career progression but also enhances skills that one requires to stay ahead in the industry and also helps in networking. There are numerous reasons why one should pursue an MBA and acquire the skills and knowledge required to give vertical growth to one's career. MBA course teaches students how to successfully manage a business and how to adapt to the latest global trends. Through this program students also learn how to run a business in an uncertain environment and revive it in times of crisis. Some of the top reasons to study MBA in Australia are:

  • MBA in Australia is a recognised degree globally because the AQF issues comparative qualifications for office use. 
  • Australian Universities may or may not accept GMAT scores for MBA admissions.
  • International students studying MBA in Australia can work for 40 hours while studying. Check: Part-time work options for international students in Australia
  • Australia opens more than 45,500+ job vacancies for MBA degree holders in Australia annually.
  • More than 6,000+ vacancies are open up for Finance MBA graduates in Australia each year.

Check: Why Study MBA Abroad?

Noosr List

Recognition of foreign education institutions could be a concern for students wanting to study in Australia. Experts recommend students evaluate their credentials before applying for an MBA programme at a recognised university in Australia. It is a process where your credentials are evaluated and your level of education is compared with the Australian education system.

For example, if an aspirant is seeking admission to Melbourne Business School, and he completed his bachelor’s from an ‘A’ category university in India and scored 70% marks then it is equivalent to another aspirant who completed his bachelor’s from ‘B’ category university in India and scored 75% marks. [This is just to explain the concept and is not to be seen as eligibility criteria for Melbourne Business School.]

It is a fee-based service that is conducted by a government body, the Australian Education International-National Office of Overseas Skills Recognition (AEI NOOSR) and can take up to 3 months.   

MBA in Australia Admission Requirements 

Entry requirements for MBA in Australia for international students include at least 60% at the undergraduate level, minimum 2 years of work experience and English language proficiency scores. The following section is divided for more information: 

MBA in Australia Course Duration

In most universities, the duration of the MBA programme is 2 years. The time period for an MBA in most universities in Australia is between 15 months to 2 years. Apart from this, a lot of universities have started offering one-year MBA programmes Melbourne Business School has started a one-year MBA program which is highly popular among aspirants. The following is a list of MBA programs offered by some of the top business schools: 

Australian B-Schools 

Duration of MBA course 

Melbourne Business School - MBA 

2 years 

UNSW Business School - AGSM MBA 

1 Year 

University of Sydney Business School - MBA  

1.6 years 

Monash Business School - MBA 

2 years 

UQ Business School - MBA 

1 year 

ANU Business School - MBA 

1.6 years 

UTS Business School - MBA 

2 years 

UWA Business School - MBA Flexible 

1.4 year 

Deakin Business School - MBA 

1 year 

Griffith Business School - MBA 

1 year 

Macquarie Business School - MBA 

2 years 

Read: How to choose between a year and two-year MBA program?

Exams to Study MBA in Australia 

Students who do not meet the English language requirements of  TOEFL / IELTS / PTE can pursue ELICOS (English Language Intensive Courses for Overseas Students) courses, it is the Australian equivalent of English language courses. Students who need to prove English language proficiency in order to study at a university or a vocational college or want to work can pursue any course under ELICOS. There are different types of ELICOS courses, students can pursue any course depending on their requirements. 

Also Read: TAFE Institutes in Australia   

MBA in Australia Eligibility Requirements for Admission  

Some of the basic requirements for getting admission to a top Australian university/institution are: 

  • Bachelor's degree: Candidates must have completed a bachelor’s degree in any field from a recognised university. 
  • IELTS: Students need to secure a good IELTS score to get an Australian visa. Students from non-native English-speaking countries need to showcase their English language proficiency to secure admission to a university. Check: IELTS v/s TOEFL v/s PTE? 
  • Work Experience: Although it is not mandatory having work experience of at least three years definitely proves to be advantageous for aspirants. Most universities give preference to candidates having two to three years of work experience in their field. 
  • GMAT Score: Most Australian universities and colleges accept GMAT scores for admission to pursue the MBA program. A good GMAT (The Graduate Management Admission Test) score is required to get into a top university to pursue an MBA. However, the average GMAT score for getting admission to an Australian university is 700+. 

*Note: There are some colleges in Australia that do not require GMAT scores for MBA admissions. Applicants must check the admission requirements before applying for an MBA in Australia.

Since there are very few universities in Australia that require the GMAT, this is because they focus more on the practical (work) experience of the candidate. Australian universities demand that candidates maintain consistency in their academics and obtain high scores in high school as well as the bachelor's level program. Eligibility criteria vary from university to university. Universities can be classified into three main categories depending on their admission requirements: 

  • Category 1: These universities require students to have a good GMAT score, significant work experience and an IELTS score as a mandatory requirement. 
  • Category 2: These universities require students to either have a good GMAT score or work experience and an IELTS score. 
  • Category 3: In this category, universities grant admission only on the basis of a student's academic score and IELTS score.   

Check: Eligibility requirement and application procedure: Australia 

MBA in Australia Fees

One of the most important factors when deciding on the university is the course curriculum and the program's cost. Always compare the cost of studying in different universities and go for the one that is reasonable in your pocket. According to mbanews.com, the MBA fee in Australia for international students has escalated from the year 2021 to 2022. Therefore, always consider various factors that contribute to the cost like course fees, accommodation, travel expenses, and research for the project work. The cost of studying MBA in Australia varies from AUD 126,000 to AUD 16,000. Here’s a list of the MBA fees of the top 10 MBA schools in Australia: 

University/School/Provider 

Australia MBA Fees 

The University of Melbourne 

Senior Executive MBA: AUD 126,000

EMBA: AUD 103,500 

UNSW Sydney

AGSM: AUD 104,400 

Monash Business School

EMBA: AUD 112,600 

Macquarie Business School  

MBA: AUD 80,000 

UQ Business School 

MBA: AUD 76,560 

UWA Business School 

MBA (Intensive): AUD 64,200 

ANU Business School

MBA: AUD 68,040 

UTS Business School 

EMBA: AUD 66,744

RMIT School of Business

EMBA: AUD 73,440

UniSA Business School

International MBA: AUD 71,800

La Trobe Business School

MBA: AUD 63,000

Victoria University

Global MBA: AUD 66,800

Also Read: 12 Most Affordable MBA Colleges in Australia 

Scholarships/Financial Aid for MBA Course in Australia

The biggest challenge aspirants face while planning to study abroad is arranging for funds. Getting a loan is one of them, however, not all students are eligible to get an education loan. Most of the universities in Australia do not offer tuition fee waivers or financial assistance for a professional degree like MBA. Therefore, students often look out for scholarships to fund their education. It is also important that students should always take care of the eligibility criteria and different types of costs covered in the scholarship they are awarded. 

Some of the popular scholarships for pursuing an MBA in Australia are: 

  • Central Sector Scheme of National Overseas Scholarship for SC etc. Candidates: Through this scheme financial assistance is provided to the selected candidates who wish to pursue master's level courses abroad. 
  • Dr Abdul Kalam International Undergraduate Scholarship- Engineering Honours & Information Technology: This fellowship is offered in memory of Dr APJ Abdul Kalam who was presented with an Honorary Doctorate of Engineering from the University of Sydney in 2011. It is awarded to students who want to pursue bachelor's or master's level courses. 
  • Deakin India 10 per cent Bursary- MBA, Sports Management, International Finance & Commerce: It is a need-based scholarship that is awarded to students who want to pursue a master's level degree. Students are not required to apply separately for this scholarship, they are automatically considered for this scholarship while they apply for admission to different courses. 
  • Macquarie University Tuition Fee Grants for Indian Students- MBA: This scholarship is awarded to students who wish to pursue a master's level course. The candidate must have three years of work experience to become eligible for this scholarship. 

 

MBA in Australia Salary (Top career options after MBA in Australia) 

Demand for MBAs is high across the globe and employers are ready to pay handsomely if you have the right skill and talent. MBA graduates are amongst the best paid in the world. Due to their high demand amongst multinationals and the excellent rapport of B-schools in Australia. 

Top industries offering MBA jobs: 

  • Financial Services 
  • IT/Computer Services 
  • Consulting/Professional Services 
  • Education 
  • Manufacturing/Engineering 

Read: MBA v/s MIM

Skill Shortage List 

According to the Skilled Occupation List (SOL) released by The Department of Immigration and Border Protection (DIBP) of Australia 2017-2018, if your occupation features on the shortage list then you have a better chance of getting the Australian Visa. However, you still need to fulfil the other requirements for getting a visa. If you are under 45 years of age and possess 6-7 years of professional experience then also you can get an Australian visa even if you cannot pass the points test. 

Work Visa after MBA in Australia 

The post-study work visa in Australia is issued to international students who recently graduated from an Australian institution. This visa allows the visa holder to stay, work and study in Australia temporarily after completing his education. Students can get a temporary Graduate visa (SUBCLASS 485) once as primary applicant. 

This Temporary Graduate visa has two streams: 

  • The Graduate Work stream 
  • The Post-Study Work stream 

The main applicant covered by the application needs to be present in Australia at the time of applying for a visa and also when his/her visa is decided. 

Further, the qualification of the applicant must relate to an occupation listed on the occupation skilled list for getting the Graduate Work stream visa. In this category, the visa holder is allowed to stay for a period of 18 months. 

Apart from this, the qualification of applicant must be a higher education degree to acquire the Post-Study Work stream visa. In this category, the visa holder is allowed to stay between two to four years. 

Check: Life after MBA from Australia: Placements and Job Prospects 

For more information related to eligibility fulfilment based on entry requirements or the application process, prospective students can contact our team of study abroad experts

MBA in Australia FAQs 

Q. What is the cost of studying MBA in Australia?

A. The average cost of studying MBA in Australia is AUD 60,000 per annum. International students might have to pay between AUD 16,000 to AUD 126,000 since tuition rates have increased by 3% in Australian Universities in 2022. It is predicted that another 2% increase will be witnessed in MBA fee in Australia in the year 2023 for international students. 

Q. Is it worth studying MBA in Australia?

A. Yes, it is definitely worth studying in Australia because, Australia is one of the top 5 international countries which offers MBA degree that is recognised globally. Moreover, MBA admissions in Australia are tough but its worth getting admission because of good internship and placement opportunities. Also in terms of ROI, MBA from Australia is definitely a good choice because MBA grads from Australian universities are usually highly placed and earn well for themselves. 

Q. Are MBA admissions in Australia tough?

A. Yes, MBA admissions in Australia are tough because academic requirements of first division, a relevant work experience, an exclusive CV, competent personal essays (sample SOP for MBA) and a throrough scrutiny of the letters of recommendation. Check: Sample LOR for MBA  

Apart from this, MBA in Australia is one of the popularly opted courses and hence, competition is quite high, thus applicant must be able to craft their applications in the best possible manner in order to get admitted. 

Q. Can I apply for MBA in Australia without GMAT?

A. Yes, there are a few universities in Australia that accept MBA applications without demanding for a GMAT score. Universities like Monash University, RMIT University, Deakin University, etc do not require GMAT scores from students applying for MBA admissions in Australia. Some universities in Australia require GRE also, thus, applicants can give GRE instead of GMAT if the option exists for them as part of the admission requirements. 

Q. Is MBA in demand in Australia?

A. Yes, Australian Business Schools strengthen the placement criteria for its MBA students with 6% higher salaries in comparison to Canada and hence, are required across multinational companies for recruitment. Thus, it is true that MBA in Australia is in high demand. More and more applications are received for MBA admissions in Australia and students from countries abroad wish to get admission in Australia of they cannot get through in USA or Canada. 

Check:

Q. After MBA in Australia which is the highest paying job?

A. After completing MBA in Australia, students with the Finance background tend to earn 3.25% higher than those with a Marketing specialization. Also those who specialise in Operations also earn exuberantly, that is, AUD 175,000. Overall, an MBA graduate from Australian universities can expect to earn AUD 230,000 per annum irrespective of the specialisations he/she has graduated in. 

Q. Which universities are best for studying MBA in Australia?

A. Various Level 1 Australian universities have been ranked for offering MBA to international students over the years. For instance, The University of Melbourne, University of South Wales - Sydney, Monash University, University of Queensland and University of Technology Sydney have been consistently ranked in the top five for its MBA course. Thus, there are 25 more options to choose from for studying MBA in Australia.

Q. Can I apply for MBA in Feb Intake of Australia?

A. Admissions to MBA in Australia depend upon the universities offering this course. In case the Australian university offers MBA in the Feb intake, then applicants can apply to the universities. Australian universities majorly offer MBA admissions in July intake but just in case the applicant misses on the February intake, they can apply in the next cycle of admissions or wait for a year to apply. 

About the Author
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Written by
Aishwarya Bhatnagar
Study Abroad Expert

Aishwarya is a professional Writer currently working as a Study Abroad Expert in the Editorial Team at Shiksha. She has over 5 years of experience and is skilled at creating Online Content with leveraged knowledge i... Read Full Bio

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Anuradha
All courses in ANZ

Armed with B.Com from Delhi University, Anuradha Sharma has accumulated rich experience as an education counsellor. She is especially adept at handling Australia and NZ admission procedure. Before becoming a GTE Exp... Read Full Bio

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Comments

(30)

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Rakshith Bhat

a year ago

Hiii This is Rakshith I am currently finishing my B com with an aggerate SGPA of 8.50 so i need to do my mba of mfa in australia so what and all preparations should i do to get in there and more over am doing CMA(Cost management accounting) with bcom.so could you please guide me in solving my iss

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Reply to Rakshith Bhat

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Aishwarya BhatnagarStudy Abroad Expert

a year ago

Hello Rakshith! All major details related to MBA in Australia have been given in this article with elaborate details, you can go through it. All the best!

n

nakul h m

3 years ago

i am currently working and thinking of joining mba college for next year so what all criteria should i fulfill to get into good mba college ?

Reply to nakul h m

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Piyush Kohli

2 years ago

Hi Nakul, please go through the above article, eligibility requirements are mentioned there. Also, you can go to the specific university pages and check out their entry requirements for the MBA program.

G

GANESH

3 years ago

Hello Piyush hope you are doing great. Can you please guide me on the cost and time duration for MBA regular or part time with Job if you are a PR holder?

Reply to GANESH

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Kyameliya Bag

3 years ago

Hi, I am simply graduate from Calcutta University (2008) and M.A from Rabindra Bharati University (distance) in the year of 2012. At present I m working in operation department in hospital sector for more than 8 years...so can I now apply for MBA in Australia?

Reply to Kyameliya Bag

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Piyush Kohli

3 years ago

Hi Kyameliya, usually universities prefer candidates with 3-4 years of work experience, however, you can check the entry requirements of the universities offering MBA in Australia and apply accordingly: https://studyabroad.shiksha.com/australia/mba-colleges-dc

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Kishore Kr

3 years ago

I’m an MBA grad from India with 3 years of work experience in supply chain, now I want to pursue a specialisation course or degree in Australia in the field of supply chain/logistics. What would be the fees and duration ? And also the duration of work visa post my studies?

Reply to Kishore Kr

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Piyush Kohli

3 years ago

Hi Kishore, duration of a master's course can vary from a school to school. Please refer to the below link and learn more about the Supply Chain courses offered by the universities in Australia: https://studyabroad.shiksha.com/australia/universities/sydney-business-school/master-of-science-logistic

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