MBA from Australia

Master’s in business administration (MBA) is one of the most sought-after degrees in the modern-day. Increasing corporate competition and the emergence of a variety of new industries and technologies have led to companies looking for scientific and objective management skills. Employment opportunities for people with certified management skills are numerous and as such, an MBA degree provides such people with immense opportunities to succeed. An MBA degree from a reputed institution therefore may set up a person financially for life. A typical high-quality MBA program will include training in the following skills: accounting, applied statistics, human resources, business communication, business ethics, business law, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and management analysis and strategy.

Admission Requirements for an MBA in Australia

The basic requirements for getting admission into an Australian business school are:

• It is required that candidates have completed a bachelor’s degree in any field from a recognized university. Some Universities may request original documents of the same so make sure to keep them prepared during the application and enrolment process.
• It is required for international students from non-English speaking countries to submit proof of proficiency in the language, for instance, IELTS or TOEFL scores. Students need to secure a good IELTS or TOEFL score to get an Australian visa. English language proficiency is a must in order to secure admission into an Australian university.
• While work experience is not mandatory, it is recommended as most universities have a preference for candidates having 2-3 years of work experience in their respective fields.
• A good GMAT (The Graduate Management Admission Test) score is a prerequisite to get into a top university to pursue an MBA. Most Australian universities and colleges accept GMAT scores for admission to pursue the MBA program. The average GMAT score to get admission to an Australian business school is 590.

Cost of Pursuing MBA in Australia

The fee structure for studying MBA in Australia is different for Domestic and International students.

• Domestic students- For domestic students, the range of the MBA program fees is between AUD 20,000 to AUD 60,000 or more depending on which University student would like to take the program.
• Internatioanl students- The total cost of an MBA program for international students, on the other hand, ranges from AUD 60,000 to AUD 120,000 or more depending on which university student wishes to enroll in, the number of credits needed, and courses they have applied for.

Modes of Learning

Masters in business administration in Australia are usually: (1) full-time; (2) part-time; or (3) online.

1. Full-time MBA programs are the most popular type of MBA programs and are offered by all Business schools and colleges in Australia. This type of program is usually taken with a regular full-time schedule with regular (mostly daily) classes and other academic activities happening on a regular basis. Participation in a full-time program usually allows students to have the full campus experience, allowing them to participate in clubs, extracurriculars, and university social life. The main benefit of doing a full-time program is that students get to focus on the recruitment process and interviews which may take up to several months.
   
   Most full-time programs in Australia require 2 years or around 80-90 weeks. Some universities have special ‘streamlined’ courses that take up only 1 year or 40-50 weeks, depending on the institution.
2. Part-time MBA programs are for people working full time day jobs, and thus cannot be part of full-time programs. In part-time programs, one usually has evening or night classes, mostly on weekends, so that they may be able to take part in the course while maintaining their jobs. Most programs offer students one or two classes each semester with a fixed schedule and syllabus, depending on their course structure. Some universities may offer students the option to opt for ‘flexible’ courses, which allow them greater autonomy in deciding when to take exams and courses. These flexible courses typically can last up to 6-7 years, with regular part-time courses usually taking 2-4 years.
   
   Compared to full-time MBA programs, the employment and recruiting process is less of a focus but part-time students do have access to recruiting events. Almost every university offering full-time MBA courses also offers part-time MBA programs.
3. Online MBA programs are also called distant learning or off-campus learning. These programs offer a good range of choices for MBA students who desire to study and further their education despite the scarcity of time or the challenge of distance. These programs are very flexible and enable the student to balance their studies and the demands of their other commitments. Some universities offering off-campus learning are Deakin University, the University of South Australia, Southern Cross University, and more. Most online programs cost a fraction of what a full-time program would cost and therefore are an extremely cost-effective and inexpensive way to secure a quality education.

So, students are required to decide to pursue the type of degree which will suit their needs the most. This choice will have to be made based on a variety of factors, including current occupation, financial viability, distance from the institution, and their specializations. Making the correct choice can hugely contribute to the development of their skills and eventual personal growth.

Top Universities for MBA in Australia

1

University of Melbourne

• The University of Melbourne is a prestigious institution of higher education. It is consistently ranked as one of the top universities in the world and is known for its excellence in teaching and research across a wide range of disciplines. The University of Melbourne has a long history of academic achievement and has produced numerous Nobel laureates, Rhodes Scholars, and other distinguished alumni.
• University offers full-time MBA, part-time MBA, Executive MBA, and online MBA. The duration of a full-time MBA is 2 years.
• In order to qualify for the MBA program, students need to possess a bachelor's degree along with a minimum of two years of verifiable professional work experience, as well as submit GMAT/GMAT Focus Edition and GRE scores. Nevertheless, individuals who have obtained their bachelor's degree from an Australian or New Zealand university and are not seeking scholarships are exempt from the GMAT/GMAT Focus Edition/GRE requirement. International students must meet English Language Requirements, which include achieving a minimum overall TOEFL score of 102 or an overall IELTS band score of 7.0.
• The total tuition fee for the program is identical for both domestic and international students, set at AUD 107,000.

2

University of Queensland

• Located in Brisbane, Australia, the University of Queensland is known for its world-class research and academic programs. The University has a strong reputation for excellence in a wide range of disciplines, including science, engineering, business, humanities, and health sciences. The University is a leader in shaping the future of education and research, making it a top choice for students seeking a transformative and enriching academic experience.
• University offers full-time MBA, part-time MBA, and online MBA. The duration of a full-time MBA is 1 year while a part-time MBA can be completed within 10 years.
• In order to qualify for admission to the MBA program, applicants are required to possess a bachelor's degree (or its equivalent) in any field, or the Graduate Diploma in Business Administration from UQ, along with at least 4 years of full-time equivalent, relevant work experience, preferably acquired after completing their undergraduate studies, with a minimum of 2 years spent in a dedicated supervisory/management position. Additionally, candidates must have achieved a grade point average (GPA) of 4.5 on a 7-point scale in their previous academic qualification. For international students, a minimum score of 550 on the GMAT exam is mandatory, as well as meeting English proficiency standards, which include a minimum overall TOEFL score of 87, an IELTS band score of 6.5, or a PTE score of 64.
• The tuition fee for the program is as follows:
  • Domestic students- AUD 87,000
  • Internation students- AUD 92,000

3

University of New South Wales

• The University of New South Wales, located in Sydney, Australia, is known for its exceptional academic standards and outstanding reputation in the field of higher education. With a history dating back to 1949, UNSW has established itself as a leading institution for research and innovation, consistently ranking among the top universities in Australia and the world.
• University offers full-time MBA, Executive MBA, and online MBA. The duration of a full-time MBA is 1 year.
• In order to qualify for the MBA program, students must possess a bachelor's degree (or its equivalent) and have a minimum of two years of full-time professional work experience. It is mandatory for candidates to exhibit outstanding academic performance in their previous studies. This can be accomplished by showcasing exceptional academic achievements from a prestigious Australian or globally renowned university, or by obtaining a high score on the GMAT / GRE tests. International students must also meet the English proficiency requirements, which entail achieving a minimum overall IELTS band score of 7.0, an overall TOEFL score of 94, or an overall PTE score of 65.
• The tuition fee for the program is as follows:
  • Domestic students- AUD 80,000
  • International students- AUD 83,000

4

University of Sydney

• The University of Sydney is renowned for its esteemed reputation in the academic world, consistently ranking as one of the top universities in Australia and globally. With a history dating back to 1850, the university has a long-standing tradition of excellence in teaching and research across a wide range of disciplines.
• University offers full-time MBA and Executive MBA programs. The duration of both programs is 1.5 years.
• In order to meet the requirements for admission into MBA programs, students are required to attain a minimum grade point average (GPA) of 65 or its equivalent in their undergraduate degree. Additionally, they must submit a one-page statement of motivation, highlighting their professional and personal goals that will be accomplished through the completion of the course. Furthermore, applicants must successfully pass a selection interview. For international students, it is necessary to fulfill English proficiency criteria, which entail obtaining a minimum overall IELTS band score of 7.0, a TOEFL score of 96 overall, or a PTE score of 68 overall.
• The tuition fee for the program is as follows:
  • Domestic students- AUD 52,000 for Year 1
  • International students- AUD 55,000 for Year 1

5

University of Western Australia

• The University of Western Australia, situated in Perth, Western Australia, is renowned for its exceptional research facilities, inventive teaching approaches, and extensive selection of academic programs. It has earned a solid reputation for producing graduates who are in high demand by employers both domestically and globally. By prioritizing excellence in education and research, the university consistently draws top-tier students and faculty from various parts of the globe.
• University offers MBA Flexible, MBA Global (for Indian citizens and residents only), and MBA Intensive. The duration of this program is 1 year.
• In order to qualify for admission to the MBA program, applicants must possess a bachelor's degree or an equivalent qualification acknowledged by UWA, along with a minimum of three years of relevant documented professional experience. Additionally, they must have achieved an equivalent UWA weighted average mark of at least 60 percent, or have at least two extra years of relevant documented professional experience that UWA deems adequate for successful completion of the program. International students must also meet English language requirements, which include obtaining a minimum IELTS band score of 7.0 overall, a TOEFL score of 100 overall, or a PTE score of 71 overall.
• The tuition fee for this program is as follows:
  • Domestic students- AUD 40,000 full fee
  • International students- AUD 58,000 full fee

MBA Specializations

Australian business schools offer a wide range of specializations within their MBA programs. Students have the opportunity to choose from various options, which will determine the specific area they wish to specialize in. Whether it is Accounting, Global Business, E-commerce, Corporate Administration, Urban Estate Management, or any other selection from the diverse array of specializations available, students have the flexibility to pursue their interests. Additionally, students can opt for a specialization that allows them to explore other areas of study within the program or select one that aligns with their desired future occupation. The choice of university may also be influenced by the availability of specific specializations.

It is important to acknowledge that embarking on the path to enrolling in an MBA program from Australia necessitates meticulous planning. Prospective students must comprehend the intricacies associated with their interest in pursuing this program. They must equip themselves with comprehensive knowledge about MBAs in order to make an informed choice regarding this academic pursuit.

Accredited Business Schools in Australia

There are around 45 business schools, 23 of which are accredited by the following international groups: AACSB (Association to Advance Collegiate Schools of Business), AMBA (Associations of MBAs), and EQUIS (EFMD Quality Improvement System, which is part of the European Foundation for Management Development). These business schools are listed below:

No.	Business School	Location
1	Macquarie Graduate School of Management	North Ryde, Sydney
2	The University of Queensland Business School	Brisbane
3	Melbourne Business School	Carlton, Melbourne
4	Monash University, Business and Economics	Melbourne
5	University of New South Wales, AGSM	Sydney
6	Bond University Business School	Robina
7	Curtin Graduate School of Business	Perth
8	Griffith Business School	Gold Coast,Brisbane
9	QUT Business School	Brisbane
10	Adelaide Business School	Adelaide
11	The University of Sydney Business School	Sydney
12	UniSA Business School	Adelaide
13	UWA Business School	Perth
14	UTS Business School, University of Technology	Sydney
15	University of Wollongong, Faculty of Business and Law	Wollongong
16	Deakin University	Geelong, Melbourne
17	Flinders University	Adelaide
18	La Trobe Business School,La Trobe University	Bundoora
19	Mount Eliza Business School	Mount Eliza
20	SP Jain School of Global Management	Sydney
21	Swinburne University of Technology, Faculty of Business and Law	Hawthorn
22	Newcastle Business School	Newcastle