Last Updated: February 19, 2021
Guide to Pursuing Masters in Business Administration in Australia
Why Do an MBA Course?
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.
MBAs in Australia
Many people will recognize Australia not only as a good place to live in but also a good location to establish oneself academically and to get a degree. It is also a popular destination for international students to get their MBAs as their Master's degree. The different schools and universities in Australia are well-reputed worldwide and often offer very competitive professional experiences and industry links.
So if you’re a local or an international student who is looking to take up an MBA course in Australia, here are some reasons to do so:
- Top-tier quality of education: Business schools in Australia are recognized internationally for their excellent quality of education and several independent rankings and awards reflect this, including the QS MBA rankings for 2020, which places 5 Australian universities and business schools in the top 150. These include Melbourne Business School (Rank 26), University of New South Wales (Rank 42), Monash Business School (Rank 90), The University of Queensland (Rank111-120), and Macquarie Business School (Rank 131-140).
- Accredited business schools: 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:
|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
|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
- Specialization and choice: Australian business institutions offer a wide variety of specializations and courses which provide students with choices to further their knowledge in more specific and niche areas such as Social impact management, technology management or financial law.
Modes of Learning
Master’s in Business Administration in Australia are usually: (1) full-time; (2) part-time; or, (3) online.
- 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 which take up only 1 year or 40-50 weeks, depending on the institution.
- 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.
- 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 demand of their other commitments. Some universities offering off-campus learning are Deakin University, 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, make sure that you decide to pursue the type of degree which will suit your need 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 your specializations. Making the correct choice can hugely contribute to the development of your skillset and eventual personal growth.
Places to Pursue an MBA in Australia
There are different MBA programs located all over Australia-almost every corner in Australia has universities to choose from. You can choose whether you want to take it in Perth or Darwin, in Melbourne or Sydney. Some of the universities offering MBA courses are the University of Queensland, University of New England, Charles Darwin University, University of Melbourne, and more.
Are you eligible 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 giving admission to pursue the MBA program. The average GMAT score to get admission to an Australian business school is 590.
Tuition Fees for The Program
When it comes to fees, it depends on which category would you fall into (1) Local Student; and, (2) International Student.
- For local students, the range of the MBA program fees plays between $14,000 to $50,000 or more depending on which University you would like to take the program.
- The total cost of an MBA program for international students, on the other hand, ranges from $50,000 to $100,000 or more depending on which university you wish to enroll in, the number of credits needed, and courses you have applied for.
Many MBA programs from Australian business schools cover a wide range of specializations. You will be provided various options from which to choose, which will dictate the area you would like to specialize in. Will it be Accounting, Global Business, E-commerce, Corporate Administration or Urban Estate Management, or any other selections from the diverse array which will be made available to you? You can look for a specialization based on your area of interest, or you may choose one that enables you to explore and touch other specializations in the course of the program, or even choose a specialization that may allow you to pursue a certain occupation in the future. Your choice of university may also depend on the specialization they may or may not offer to you.
Take note that your journey to enrolling in an MBA program from Australia starts with proper planning. You have to understand the things involving your interest in applying for the program. Prepare by equipping yourself with proper information about MBAs to make the correct decision in taking this academic endeavor.