Master of Business Administration program is one of the prominent preferences among graduates and Australia figures among the top five study abroad destinations over the years as it is home to some of the most prestigious and internationally acclaimed business programs in the world. MBA in Australia provides a great opportunity to enhance career prospects while enjoying an incredible lifestyle, quality education, multicultural friendly environment and a chance to broaden your horizon beyond the obvious.
Duration about the MBA program in Australian Universities
MBA courses are generally designed to be completed within a span of two-years (which lasts up to 12-18 months), as well as for students willing to do part-time MBAs (up to 2.5 years) which is a common option for working individuals. Some Australian Universities also offer Online MBA as well as Distance Learning MBA. However, work experience of two years is mandatory for admission to a full-time MBA course.
Is Studying in Australia an asset?
- There are approximately 42 MBA programs in Australia with a goal to build an unparalleled International reputation as far as the course curriculum is concerned offering students the chance to gain experience by pursuing an internship with top-notch companies. It’s all a part of an ultra-productive cycle and one will definitely like to be a part of it.
- Work while study: While pursuing MBA International students in Australia are allowed to work even outside the campus during the semester for as long as up to 20 hours and full-time during vacations.
- Affordability: In terms of affordability in studying abroad for the MBA program the Australian MBA programs are significantly cheaper in comparison to the UK or USA.
- .Health benefits: The Overseas students cover provides free medical aid to international students who pursue a full-time MBA program without experiencing any financial hardship while away from home.
- As Indian students make a good chunk of foreign students in Australia, and this, in turn, means good income for the government hence several universities attract Indian students to their classrooms by offering scholarship opportunities to ease the financial burden. If you manage to get a seat into a full-time program and study well, then rest assured the reward is enormous and there is no better feeling than walking around with your head held high because you know that you have a better advantage over all the competitors in your field.
- To put it in simple terms – you will definitely stand out. Indian MBA graduates from Australia are amongst the world’s best-paid according to a QS Top MBA report
- An internationally recognized MBA degree will improve your earning potential with an average per hour rate ranging from $20 to $28 Australian dollars and the average starting salary post-MBA is 98,400 AUD annually, even higher than in the UK.
- Indian students who have undergone 15 years of education can apply for admissions as they do not have to attend a Pre-Master’s course because 15 years of education is accepted for admission.
Postgraduate Programs in Business Schools of Australia- Fees and Scholarship
The average cost of the master’s degree courses varies based on the specializations but approximately a student willing to complete a master’s degree course in Australia needs to spend AUD $30,000-50,000 on an average a year. The International students also need to bear in mind the other living expenses including tuition fees, accommodation, medical and travel expenses.
Although there are university-specific scholarships for the international students with academic excellence that bear the entire expense of the student including tuition fees, books, accommodation, medical and travel expenses but then they are selective.
Admission Guidelines for Post Graduate Business school in Australia
The Application for admission can be submitted in two ways-
- Either apply through an authorized agent or
- Directly apply Online through the official website of the chosen university.
Though the requirements differ from Institution to Institution, there are a few certain basic requisites which apply for all Australian Universities.
- Three years Graduation degree from an accredited university or Institution.
- TOEFL or IELTS (for English Proficiency) is a mandatory exam for MBA.
- Some universities accept the GMAT/GRE score- Besides mentioning the score on the form one also needs to carry the score Proofs on an official basis.
Other Supporting Documents include:
- All the Original academic documents of Bachelors, High school and Diploma and certificate courses
- Letter of Recommendation- Though this is not mandatory however some universities might require it from the university from where the student has graduated.
- Statement of Purpose- This is mandatory and also very critical as a document for Australian student Visa.
- Detailed CV –mentioning basic information about your academic qualifications, date of birth, achievements and the details of the work experience.
Students have to be alert and keep track of the university website for the desired program they wish to apply as it is done online in the university portal by the end of February. The applications are accepted in February, June, and September. While exceptions are there of some universities inviting applications during July as well.
List of some trending Universities for MBA in Australia based on their employability
- Melbourne Business School- The University of Melbourne – Placed no.1 in Australia and 32nd in the world in 2019, the University of Melbourne’s MBA programmes are fast-paced and challenging and brace the students to excel and manage organizations in the real world. This university can boast of its MBA programmes which are among the top 4 in the Asia Pacific region. The university is placed 6th in the world for graduate employability having 6 master degree courses; 1 specialist master degree course; 1 graduate research degree;
Part-Time MBA, Executive MBA, and Senior Executive MBA
- University of Sydney Business School – Ranked 3rd in Australia and 59th in the world according to the Times Higher Education (THE) 2019 rankings. The 2 years intensive MBA programmer focuses on leadership and enterprise and comes with limited class sizes and industry experience through internships.
- Monash Business School – One of Australia’s largest University with more courses, highly qualified and experienced staff and more campuses making it the most sought after university for students seeking to continue their higher studies in Australia with 1 Executive MBA and 1 MBA program to its credit.
- College of Business and Economics – Considered as one of the best colleges in Australia where the degree programs cover a wide spectrum of subjects within business and economics. It offers research degrees as well.
- Australian Graduate school of Management – Also provides Short courses and online degrees along with 4 types of MBA course i.e, Full- Time MBA, part-time MBA(executive), MBA(extension), Master of Management (MMGT), MBAX, and Graduate Certificate in change management and non-award/ cross-institutional study
- UQ Business School, University of Queensland – The UQ MBA has unique features that set it apart from other MBA programs with 3 study options- Accelerated -12 months( Full time), streamlined which includes Weekend and Evening classes (24 Months ) and Flexible giving you 7 years to finish, thus providing students with business skills relevant to a wide range of management careers.
- Macquarie Graduate School of Management – Fourth largest University in Australia offering flexible and future-focused programs to over 40,000 enrollments every year, spread across more than 20+ disciplines.
Life after MBA from Australia
An internationally recognized degree always adds value to your career and Australia has a strong job market for skilled professionals and approximately 30 percent of the international master’s graduates at the school remain in Australia to work because an MBA degree from an Australian University can help you gain success in the managerial Business world and achieve a satisfactory position in the 21st-century business market. Among all the fields, business planning and business analytics seemed to receive the greatest hike of approximately 11% last year which is higher than most others. In some cities like Gold Coast, Brisbane business professional receives around 112,000AUD to 119,000 AUD salary on an average per annum. Some other Australian cities offer packages where Indian MBA graduates earn 69,800 AUD to 163,000 AUD per year based on the qualification and experience of the candidate. With a master’s degree, one can earn 29% more than the bachelor’s and doctorates earn 23% more in the equivalent field.
The Management courses also offer international students the chance to gain experience by pursuing an internship with top-notch companies. Internship opportunities provide an excellent opportunity to gain Australian work experience making job prospects brighter for International students and this is also one of the reasons why Indian students wish to pursue MBA in Australia.