Why Study an MBA in Australia?
- High-Quality Education: Australia boasts nine universities ranked among the top 100 globally for MBA programs.
- Diverse Learning Environment: Australian MBA programs feature some of the world’s most diverse student cohorts.
- Strong Employment Outcomes: Graduates from Australian MBA programs, such as those from Melbourne Business School, are highly employable, with the school ranking 30th globally in employability.
- Attractive Salary Prospects: MBA graduates in Australia earn an average salary of $114,000, compared to $71,000 for those with only a bachelor’s degree.
- Stable Tuition Costs: The average cost of an MBA degree in Australia is approximately $57,353, with prices remaining relatively stable in recent years.
- Post-Study Work Opportunities: Australia offers post-study work visas, allowing MBA graduates to gain valuable international work experience after completing their degree.
Types of MBA in Australia
- Full-Time MBA: It’s a comprehensive program that provides a global business perspective with hands-on experience, case studies, and insights from industry leaders.
- Executive MBA (EMBA): It is designed for working professionals with managerial experience, offering advanced business strategies while allowing them to continue working.
- Part-Time MBA: Ideal for professionals who want to upskill while working. It has a flexible schedule and takes longer than a full-time MBA.
Cost of Studying MBA in Australia
The MBA Study Cost in Australia depends on the university, program, and living costs. Below is a general breakdown:
Tuition Fees
The average tuition fees can range from AUD 16,000 to AUD 126,000 per year.
Living Expenses
According to the Australian Government, an international student spends between $20,000 and $27,000 per year. Below is an average weekly expense chart:
| Living Expenses | Weekly Budget (Indicative) |
| Groceries and Eating Out | $140 to $280 per week |
| Gas, Electricity | $10 to $20 per week |
| Phone and Internet | $15 to $30 per week |
| Public Transport | $30 to $60 per week |
| Car (after Purchase) | $150 to $260 per week |
| Entertainment | $80 to $150 per week |
Accommodation Costs in Australia
Accommodation costs are the biggest factor of living costs in Australia. Below are the accommodation options along with their costs:
| Accommodation Type | Expenses (Indicative) |
| Hostels and Guesthouses | $90 to $150 per week |
| Shared Rental | $95 to $215 per week |
| On-Campus | $110 to $280 per week |
| Homestay | $235 to $325 per week |
| Rental | $185 to $440 per week |
Top MBA Colleges in Australia
Below are the top MBA colleges in Australia with fees:
| University | QS MBA Ranking | Tuition Fees |
| Melbourne Business School | 32 | AUD 112,500 |
| UNSW (AGSM) | 33 | AUD 81,720 |
| University of Sydney Business School | 27 | AUD 55,000 |
| UQ Business School | 81 | AUD 84,648 |
| Monash Business School | 73 | AUD 53,000 |
| Macquarie Business School, Macquarie University | 101 – 110 | AUD 44,500 |
| Australian National University | 111 – 120 | AUD 48,035 |
| University of Western Australia Business School | 121 – 130 | AUD 57,600 |
| RMIT University School of Business and Law | 140 | AUD 48,960 |
| Unisa Business School, University Of South Australia, Australia | 151 – 200 | AUD 43,800 |
Melbourne Business School
Ranked as the top business school in Oceania, Melbourne Business School offers Australia’s leading MBA and business analytics programs. It provides students with a world-class education and practical experience.
| Category | Details |
| QS Ranking | 32 |
| University Type | Public |
| Location | Carlton, Australia |
| Website | https://mbs.edu/ |
| Program Options | Full-Time MBA, Part-Time MBA, Executive MBA, Senior Executive MBA |
| Admission Requirements | Grade XII from a recognized boardWork Experience of 24 MonthsGRE – 310, GMAT- 560TOEFL (102), PTE (65), IELTS (7) |
| Average Fees Per Year | AUD 53.3K |
UNSW (AGSM)
AGSM delivers innovative, world-class MBA programs designed to create future leaders. These programs equip students with invaluable skills, practical experience, and access to a global network of alumni.
| Category | Details |
| QS Ranking | 33 |
| University Type | Public |
| Location | Sydney |
| Website | https://www.unsw.edu.au/ |
| Program Options | Full-time, Executive |
| Admission Requirements | An undergraduate degree (or equivalent)2 years of full-time professional work experienceGMAT score more than 600IELTS(7), TOEFL(94), PTE(65) |
| Average Fees Per Year | 81,720 AUD |
University of Sydney Business School
Offering a comprehensive range of business programs, the University of Sydney Business School is recognized for its strong industry connections and commitment to developing business leaders.
| Category | Details |
| QS Ranking | 27 |
| University Type | Public |
| Location | Sydney |
| Website | https://www.sydney.edu.au/business/ |
| Program Options | Part-time MBA, Full-time MBA, Global Executive MBA |
| Admission Requirements | A minimum of three years of relevant work experience and a minimum grade point average (GPA) of 65A GMAT score of 600+TOEFL iBT(79), IELTS(6.5) |
| Average Fees Per Year | 57,200 (32.5 Lakhs INR) |
UQ Business School
The University of Queensland Business School is renowned for its high-quality teaching and research, offering a range of programs that prepare students for leadership roles in the global business environment.
| Category | Details |
| QS Ranking | 40 |
| University Type | Public |
| Location | Brisbane |
| Website | https://www.uq.edu.au/ |
| Program Options | MBA |
| Admission Requirements | A minimum CGPA of 4.5 on a 7.0 scale from a certified boardGMAT( 550)TOEFL (87), PTE (64), IELTS(6.5) |
| Average Fees Per Year | AUD 35,000 |
Monash Business School
Monash Business School is a globally recognized institution, accredited by AACSB, EQUIS, and AMBA, offering cutting-edge business programs with a strong focus on research and industry collaboration.
| Category | Details |
| QS Ranking | 37 |
| University Type | Public |
| Location | Melbourne |
| Website | https://www.monash.edu/ |
| Program Options | Global Executive MBA, MBA Digital |
| Admission Requirements | Applicants must have a bachelor’s degree or equivalentWork Experience of 36 MonthsTOEFL(79), PTE(58), IELTS(6.5) |
| Average Fees Per Year | 31,000 to 53,000 AUD (18 to 30 Lakhs INR) |
Macquarie Business School, Macquarie University
Macquarie Business School offers a diverse selection of programs, including a top-ranked Master of Marketing and Master of Applied Finance. It caters to both undergraduate and postgraduate students.
| Category | Details |
| QS Ranking | 101 – 110 |
| University Type | Public |
| Location | Sydney |
| Website | https://www.mq.edu.au/macquarie-business-school |
| Program Options | MBA, Global MBA |
| Admission Requirements | Applicant must have AQF level 765% in bachelor’s degreeWork Experience of 36 MonthsTOEFL (94), PTE (65), IELTS(7) |
| Average Fees Per Year | AUD 47,000 |
Australian National University
ANU’s College of Business and Economics provides a range of business programs, emphasizing research and practical skills to prepare students for successful careers in various sectors.
| Category | Details |
| QS Ranking | 30 |
| University Type | Public |
| Location | Canberra Australian Capital Territory |
| Website | https://www.anu.edu.au/ |
| Program Options | MBA |
| Admission Requirements | A bachelor’s degree, or an equivalent qualificationThree years of relevant documented professional experienceThe equivalent of a UWA weighted average mark of at least 60 per centGMAT 550 Work experience of at least 2 yearsTOEFL(100), PTE( 64), IELTS(7) |
| Average Fees Per Year | AUD 49,300 |
University of Western Australia Business School
The UWA Business School offers a variety of undergraduate and postgraduate programs. It provides students with the knowledge and skills needed to excel in business.
| Category | Details |
| QS Ranking | 121 – 130 |
| University Type | Public |
| Location | Crawley, Australia |
| Website | https://www.uwa.edu.au/ |
| Program Options | MBA Intensive |
| Admission Requirements | Bachelor’s degree with 65%2 years of professional experienceGMAT score of at least 650IELTS(6.5), TOEFL(82), PTE(66) |
| Average Fees Per Year | Upto AUD 86,400 |
RMIT University School of Business and Law
RMIT’s School of Business and Law offers a range of programs that combine theoretical knowledge with practical application. These programs prepare students for dynamic careers in business and law.
| Category | Details |
| QS Ranking | 148 |
| University Type | Public |
| Location | Melbourne |
| Website | https://www.rmit.edu.au/ |
| Program Options | MBA and the Executive MBA |
| Admission Requirements | A bachelor’s degreeGMAT overall minimum score of 550IELTS(7), TOEFL(94), PTE(65), IELTS Academic (7) |
| Average Fees Per Year | Upto AUD 48,960 |
Unisa Business School, University Of South Australia, Australia
UniSA Business School provides a comprehensive suite of business programs. It emphasizes real-world experience and industry engagement to equip students for successful careers.
| Category | Details |
| QS Ranking | 340 |
| University Type | Public |
| Location | Adelaide |
| Website | https://unisa.edu.au/ |
| Program Options | Master of Business Administration, International Master of Business Administration |
| Admission Requirements | A recognized university Bachelor’s degreeThree years of full-time management experienceTOEFL (79), PTE(58), IELTS(6.5) |
| Average Fees Per Year | AUD 43,800 |
Eligibility for MBA in Australia for Indian Students
Below is the eligibility to get apply for an MBA in Australia as an Indian student:
- 4 years Bachelor’s degree or similar qualification from a renowned Institute
- Minimum GPA of 2.5 or higher.
- Graduate Management Admissions Test (GMAT) score of 700 or higher
- GRE score in the 310 to 320 range
- IELTS score ranges from 6.0 to 7.0
- TOEFL score 80-100
- Statement of Purpose
- Letters of Recommendation
- Work experience of 1 to 3 years with some colleges requiring over 10 years of experience
- You might also want International student support
How long is an MBA in Australia?
Most MBA programs in Australia take 2 years to complete. But there are some variations, such as.
- Accelerated MBA: Some universities offer 12 to 18-month intensive programs for faster completion.
- Part-time MBA: Designed for professionals, these programs span 2 to 3 years with flexible schedules.
- Executive MBA (EMBA): Tailored for senior professionals these programs last for 15 to 24 months with weekend or modular formats.
Cheapest MBA in Australia for International Students
Australia is known for high-quality education, but that doesn’t mean you can’t find affordable MBA programs. Listed below are some of the cheapest MBA options to choose from:
- James Cook University: Offers budget-friendly MBA programs in Cairns with a focus on tropical business environments.
- Victoria University: Provides accessible MBA options in Melbourne, known for its strong industry connections.
- Edith Cowan University: Based in Perth, ECU delivers competitive, low-cost MBA programs with flexible study options.
- University of Southern Queensland: Offers affordable MBA specializations with online and on-campus learning in Toowoomba.
- University of the Sunshine Coast: Features cost-effective MBA programs with an emphasis on sustainability and innovation.
Scholarships for MBA Study in Australia
Government Scholarships
- Curtin International Scholarships: Funded by the Australian Government for postgraduate international students.
- Australia Awards Scholarships: Focused on students from developing countries for study in Australia.
University-Specific Scholarships
- Monash International Leadership Scholarship Rewards high-achieving international students with leadership potential.
- Curtin International Scholarships: Recognizes exceptional academic achievements of international students.
Other Scholarships
- AGSM National Reach Scholarships: Support high-achieving students from Australian states outside Sydney.
- AGSM International Reach Scholarships: Designed for outstanding international students pursuing an MBA.
Jobs and Salaries after MBA in Australia
The top MBA Jobs in Australia and MBA salary in Australia are:
| Position | Salary (Annually) |
| Business Analyst | AUD 113,622 |
| Financial Manager | AUD 125,000 to AUD 145,000 |
| Project Manager | AUD 130,000 to AUD 150,000 |
| Consultant | AUD 88,755 |
| Marketing Manager | AUD 100,000 to AUD 120,000 |
Requirement for an Australian Student Visa
These are the requirements you must fulfil to get a student visa:
- You must be enrolled in a course of study in Australia
- You must hold Overseas Student Health Cover (OSHC), or fall into one of the exemption categories
- Also, you should be 6 years or older
- You should have proof you have a welfare arrangement if you are under 18.
- You will need to meet English language requirements
- You must have adequate health insurance
- You should have enough money for your stay
- You should not had a visa cancelled or an application refused
- Plus, you must meet their character requirement.
Post-Graduation Work Permit (PGWP)
After completing your MBA degree in Australia you might be eligible for a Post-Graduation Work Permit (PGWP). Through this permit, you can work in the country temporarily. Here are some details about this permit.
- You can stay in the country for up to 18 months through this visa.
- The stay-back period in Australia for master’s and post-work visa holders is about 2-4 years.