Australia might be known for its epic Cricket World Cup battles and adorable kangaroos, but did you know it's also a top destination for international students, especially those pursuing an MBA?
In fact, according to the Australian High Commission, over 1L Indian students have been enrolled in Australian institutions in recent years. Among them, a noteworthy 20,000 students specifically opted for MBA programs, highlighting the strong appeal of Australian business education for Indian students.
Interestingly, international students make up a substantial portion of MBA enrolments in Australia, with around 8 out of every 10 students coming from overseas. This creates a vibrant and diverse learning environment for all.
Australia shines on the world stage for MBA education! According to the QS Top MBA Rankings, Australia is a top contender, securing 4th position globally. This impressive ranking places Australia right behind powerhouses like the USA, UK, and Canada, signifying the exceptional quality of MBA programs offered by Australian universities.
So, if you're considering studying for an MBA in Australia, keep reading to find out what makes this country such a popular choice among students from all over the world.
Here's a quick summary of the key highlights:
| Parameters | Details |
| Top Universities for MBA in Australia | |
| Avg Cost of studying MBA in Australia | INR 20L (AUD 37,315) to INR 50L (AUD 93,288) |
| Duration of an MBA in Australia | 1.5 - 2 years |
| Best Intake for MBA in Australia |
|
| Top MBA Specialisation |
|
| English Language Test Required | |
| Standardised Test Required | |
| Avg Salary after MBA in Australia | INR 51L (95,000 AUD) |
Why Study an MBA in Australia?
Australia is becoming an increasingly popular destination for international students, particularly for those looking to pursue an MBA. The country offers a unique blend of high-quality education, a multicultural environment, and ample job opportunities that make it an attractive option for Indian students.
Here are some of the key features that make studying MBA in Australia a great choice:
- High-quality Education: Australia is home to some of the world's best universities, with 5 Australian universities appearing in the top 100 MBA QS World University Rankings 2024. Additionally, 78% of Australian business schools incorporate Asian business practices into their curriculum, which makes it easier for Indian students to adapt to the Australian education system.
- Multicultural environment: With over 30% of its population born overseas, Australia is a highly multicultural country that welcomes international students. Indian students will find a significant Indian community residing in major cities like Melbourne and Sydney.
- Ample job opportunities: The Australian Government offers a Temporary Graduate visa (subclass 485) that allows international graduates to work in Australia for up to 4 years after completing their studies. This provides Indian students with ample opportunities to gain international work experience and kick-start their careers.
- Affordable Education: Compared to other popular study destinations like the UK and the USA, Australia offers more affordable education with lower tuition fees and living costs.
- Exceptional Natural Beauty: Australia is renowned for its breathtaking natural landscapes, from the Great Barrier Reef to the Outback. Indian students studying MBA in Australia will have the opportunity to experience this exceptional natural beauty and explore the country's unique culture.
Overall, studying for an MBA in Australia offers Indian students a unique opportunity to gain a high-quality education, gain international work experience, and explore a new culture in a welcoming and multicultural environment.
What are the top 10 MBA Colleges in Australia?
Australia is home to some of the world's best MBA programs, with 3 universities ranked among the top 50 MBA colleges in the world and 5 Australian universities ranked among the top 100 according to the QS Global MBA Rankings 2024, making it a great destination for MBA aspirants.
Here's a table of the top Universities in Australia for MBA, along with their average tuition fees and QS ranking:
| University | QS MBA Ranking 2024 | Tuition Fee Per Year |
| Melbourne Business School | #30 | INR 27L |
| Australian Graduate School of Management (UNSW) | #31 | INR 29L |
| University of Sydney Business School | #50 | INR 29.5L |
| UQ Business School | #75 | INR 46L |
| Monash Business School | #84 | INR 27L |
| Macquarie Business School, Macquarie University | #101 - #110 | INR 32L |
| Australian National University | #111 - #120 | INR 26L |
| University of Western Australia Business School | #131 - #140 | INR 29L |
| RMIT University School of Business & Law | #151 - #200 | INR 26L |
| UNISA Business School, University of South Australia | #151 - #200 | INR 23.5L |
Note: The MBA fees in Australia mentioned in the table are approximate and may vary based on currency exchange rate.
Also Read: MBA Fees in Australia
What are the Top MBA specialisations in Australia?
MBA in Australia cater to a diverse range of interests, from the ever-popular Finance and Marketing to the cutting-edge domain of Fintech and Sports Management. Plus, many universities offer a general MBA, allowing you to explore various business disciplines before grinding in on a specific area.
The typical duration of an MBA in Australia is 1.5 to 2 years, ensuring you gain the knowledge and practical skills to pursue more education after graduation.
Here is the table of different MBA Programs in Australia, along with their duration:
| Types of MBA | Duration |
| Full - Time MBA | 1.5 - 2 Years |
| Part-Time MBA | 2 - 4 Years |
| Executive MBA | 1.5 - 2 Years |
| Accelerated MBA | 1 - 1.5 Years |
Here's the list of the top MBA in Australia specialisation:
- MBA in Finance: Focuses on financial management, investments, and risk management.
- MBA in Management: Teaches skills in leadership, decision-making, and organisational behaviour.
- MBA in Marketing: Trains students in product development, pricing, promotion, and distribution strategies.
- MBA in Human Resources: Concentrates on managing people in organisations and covers areas such as recruitment, training, and performance evaluation.
- MBA in Innovation & Entrepreneurship: Focuses on creating and managing new businesses and developing creative solutions to business challenges.
- MBA in Supply Chain Management: Teaches skills in managing the flow of goods and services from supplier to customer.
- MBA in Business Analytics: Trains students to use data analysis tools to improve business decision-making.
- MBA in Fintech: Focuses on the intersection of finance and technology to create innovative solutions to financial challenges.
- MBA in Sports Management: Teaches skills in managing sports organisations, events, facilities, and athletes.
What are the MBA in Australia - Eligibility Criteria?
Before starting on your MBA in Australia journey, there are a few key eligibility limitations to consider. Most universities will require a strong academic background, relevant work experience, and proof of English language proficiency.
General Requirements:
- Academic Background: A 3-4 years bachelor's degree from a recognised institution with a 60% overall grade point average (GPA).
- Work Experience: While some programs welcome recent graduates, having 2-3 years of work experience in a relevant field can strengthen your application.
- GMAT/GRE: Many universities require the Graduate Management Admission Test (GMAT) or the Graduate Record Examination (GRE) as a standardised test to assess your quantitative and analytical skills. Minimum score requirements can vary, but aiming for a score above 600 on the GMAT or above 320 on the GRE is generally recommended.
- English Language Proficiency: If English isn't your native language, you'll need to demonstrate English proficiency through tests like the Test of English as a Foreign Language (TOEFL) or the International English Language Testing System (IELTS). Minimum score requirements will vary by university, but typically a TOEFL score of 88 or above and an IELTS score of 6.5 or above are accepted.
Documents Required:
- Official transcripts from your bachelor's degree program, translated into English if necessary.
- Degree Certificate
- Standardised Test Scores
- English Language Test Scores
- Statement of Purpose (SOP)
- CV
- LOR
- Passport
- Financial Statements
- University Application Form
- Additional Documents (Optional): such as awards or achievements certificates and portfolio.
Visa Required to pursue an MBA in Australia
For Indian students, obtaining a student visa is crucial for entering Australia and pursuing your MBA. To turn your dream of pursuing an MBA in Australia into reality, you'll need a Student Visa (Subclass 500). This visa allows you to enter and stay in Australia for the duration of your MBA program, attending classes and completing coursework.
Here's a list of the general documents required for an Indian student applying for a Student Visa (Subclass 500) to pursue an MBA in Australia:
- Valid Passport: A valid passport with at least 6 months validity beyond your intended stay in Australia, and sufficient blank pages for visa stamps and potential travel endorsements.
- Electronic Confirmation of Enrolment (ECOE): This official document issued by your chosen university confirms your enrollment in the MBA program.
- Genuine Temporary Entrant (GTE) Statement: A well-written document explaining your reasons for studying in Australia, your specific program choice, and your plans to return to India after completing your studies.
- Overseas Student Health Cover (OSHC) Details: Proof of enrollment in a registered Overseas Student Health Cover (OSHC) plan for the duration of your stay.
- Financial Statements: Bank documents demonstrating sufficient funds to cover your tuition fees and living expenses in Australia for the entire duration of your MBA program. This could include bank statements, scholarship letters, or evidence of sponsorship.
- Proof of Income (if applicable): If you're using personal income to support your studies, documents like salary slips or tax returns can be helpful.
- Academic Transcripts & Degree Certificate: Official copies (translated into English if necessary) of your bachelor's degree transcripts and certificate.
- English Language Test Scores (if required): While not always mandatory for the visa itself, some universities might require proof of English proficiency through TOEFL or IELTS scores for visa purposes.
- Medical Examination Results: In some cases, you might be required to undergo a medical examination and submit a health report.
- Police Check Certificate: A police check certificate from your home country might be requested in some instances.
What is the cost of studying for an MBA in Australia?
The cost of pursuing an MBA in Australia can vary depending on several factors, including the university you choose, the program you select, and your lifestyle choices. However, the average cost of studying MBA in Australia can range from approximately INR 20L (AUD 37,315) to INR 50L (AUD 93,288).
Cost of Living In Australia
As an international student in Australia, it's important to be aware of the various expenses you'll need to cover. On average, the monthly cost of living in Australia is around INR 97,563 (AUD 1,820), excluding rent. This includes daily expenses such as food, medical care, and transportation, among others.
To help you prepare for your stay in Australia, we've provided a detailed breakdown of the major elements that contribute to your living costs. In addition to these expenses, you should also consider other costs such as tuition fees, visa fees, and travel expenses.
However, don't let the expenses discourage you from pursuing your dreams of studying MBA in Australia. With its excellent education system, multicultural environment, and ample job opportunities, studying in Australia can be a life-changing experience that is definitely worth the investment.
Check out the expenses below:
| Factors | Monthly Cost in INR |
| Rent | INR 1L (AUD 2000) |
| Food & Groceries | INR 21,500 (AUD 400) |
| Transportation | INR 9,000 (AUD 170) |
| Phone and Internet Services | INR 7,000 (AUD132) |
| Other Basic Utilities | INR 18,000 |
Source: Numbeo
Note: The costs mentioned in the table are approximate and may vary by location and currency exchange rates.
Also Read: Cost of living in Australia
What are the top scholarships for MBA in Australia?
The cost of an MBA in Australia can be a significant investment. There are numerous scholarship opportunities available to help Indian students bridge the financial gap and pursue their academic dreams.
In fact, Australian universities and organisations offer a wide range of scholarships specifically for international students, making an MBA Down more affordable.
Here's a list of some of the scholarships available for Indian students seeking an MBA in Australia:
| Scholarships | University | Benefits |
| Diversity Excellence Scholarship | University of Melbourne Business School Scholarship | Partial Tuition Fees of AUD 50,000 (INR 27L) |
| AGSM Global Reach Scholarship | University of New South Wales Business School |
|
| MBA Student Scholarship International | University of Queensland | 25% of Tuition Fees |
| Monash International Leadership Scholarship | Monash Business School | Cover Full Tuition Fees |
| MBA Scholarships for Outstanding Students | University of Technology Sydney Business School | AUD 2,000 (INR 1L) contributed towards tuition fees. |
What are the top jobs after MBA in Australia?
Do you know one of the biggest perks of pursuing an MBA in Australia? Getting a fantastic job! International students graduating from Australian universities are well-positioned to secure full-time employment just as quickly as their other Aussie mates.
In fact, a survey by the Australian International Directors' Forum revealed an impressive statistic: a whopping 79% of international students find employment within 3 years of graduation.
The average salary of an MBA in Australia is more than INR 51L (95,000 AUD) annually, which is significantly higher than the average MBA salary in India. According to Indeed, the average MBA salary in India ranges from INR 6L to INR 23L, depending upon the ranking of the business school.
Here's a table of the top jobs after MBA in Australia, along with their average salaries:
| Jobs | Avg Annual Salary |
| Finance Manager | INR 75L (AUD 140,000) |
| Account Executive | INR 1Cr (AUD 220,000) |
| Sales Manager | INR 1Cr (AUD 220,000) |
| Marketing Manager | INR 96.5L (AUD 180,000) |
| Industry Specialist Manager | INR 91L (AUD 170,000) |
| Business Development Manager | INR 1.5Cr (AUD 287,200) |
| Operations Manager | INR 1Cr (AUD 205,600) |
| Business Consultant | INR 1.3Cr (AUD 244,168) |
| Product Manager | INR 70L (AUD 130,000) |
| Program Manager | INR 73L (AUD 136,500) |
Sourced By: Glassdoor
Note: The salaries mentioned in the table are approximate and may vary based on location, experience, recruiter and currency exchange rates.
Top Recruiters After MBA in Australia
Australia is a popular destination for international students pursuing an MBA, especially Indians, due to its excellent education system, multicultural environment, and ample job opportunities. After completing an MBA in Australia, graduates can look forward to a wide range of career opportunities with some of the top employers in the country.
Here are the top 10 recruiters after an MBA in Australia:
- JP Morgan
- Macquarie Group
- Goldman Sachs
- KPMG
- Deloitte
- PwC
- EY
- Commonwealth Bank of Australia
- National Australia Bank
- Westpac Group
These recruiters are known for offering excellent work culture, competitive compensation, and opportunities for growth and development. Graduates from top Australian universities are in high demand and can look forward to exciting career prospects in a range of industries, including consulting, finance, and banking.
