Whether you have decided to pursue an MBA to advance your career, for a higher salary, or to develop your business skills and knowledge, Australian universities are equipped with some of the best academic staff and facilities that will help you make the most of your MBA degree.
If you’re curious about the benefits of doing an MBA in Australia, the best universities for this program, and other important information, we will cover everything you need to know below.
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Benefits of Pursuing an MBA in Australia
Australia attracted more than 600,000 international students in 2022 alone due to its high-quality education and extensive scheme of study programs. Additionally, Australian major cities rank in the top student cities year after year for their prestigious universities, student diversity, affordability, and student employment opportunities.
Apart from these benefits, these are the main reasons why you should choose Australia to pursue your MBA degree:
Australian universities and their business schools are renowned for their global reputation. In fact, five Australian universities rank among the top 100 universities globally for the best full-time MBA programs. Hence, you will have the chance to learn from experienced academic staff, benefit from the multitude of student resources available, and choose from advanced courses in business administration.
According to Australian Labout Market Insights, the occupation category of Management and Organisation Analysts is expected to grow by 32.2% during the 2021-2026 forecast period.
The General Managers category, including Corporate General Managers, is also expected to grow by 9.6%. Likewise, Finance Managers as a category is expected to grow by 11.7%, ICT Managers by 17.7%, and Other Specialist Managers by 17.5%. Therefore, you can expect plenty of job openings if you plan to work in Australia after graduation.
Vibrant Student Life
Lovely weather, vibrant campuses, numerous student clubs and activities, and a sport-loving country are just a few of the reasons why Australia and its universities offer some of the best student experiences. Many students come here for the quality of education; however, they are even more likely to recommend Australia to other people for the great student life and overall quality of life.
Careers with an MBA from Australian Schools
MBA programs from Australian schools equip students with specialised skills and knowledge that prepare them to work in many different industries, including consultancy, banking and finance, IT, engineering, education, and more.
This degree qualifies you for a variety of roles, such as:
- Account Manager
- Business Consultant
- Finance Manager
- General Manager
- Human Resources Manager
- Industry Specialist Manager
- Management Consultant
- Marketing Manager
- Medical Manager
- Policy Analyst
- Product Manager
- Sales Manager
Entry Requirements for MBAs in Australia
In order to enrol in an MBA program in Australia, you will need to meet certain requirements and prerequisites. Admission to some universities will be more competitive than in others, therefore requirements vary depending on the type of MBA program you choose and the university you plan to attend.
In general, these are the main entry requirements for full-time MBA programs in the top Australian universities:
- Undergraduate Degree. Since the MBA program is a postgraduate degree, most universities require you to have graduated with an Australian bachelor’s qualification or equivalent and a minimum weighted average mark (WAM) of 60-65.
- English Language Proficiency. English is the main language of instruction in Australian universities; therefore, you will need to prove your English proficiency through approved English language test scores if English is not your first language. The majority of universities require an IELTS Academic minimum score of 6.5 or 7.0, with no bands less than 6.5 or equivalent test scores.
- Professional Experience. You will need to demonstrate proof of professional work experience in a relevant field of work/managerial level. This can range from two to five years of work experience, depending on the university and whether it’s a general MBA program or an executive MBA (the latter requiring more years of experience).
- GMAT/GRE Scores. Some schools may require you to sit the Graduate Management Admission Test (GMAT) or the Graduate Record Examinations (GRE), or they will accept these tests in order for you to demonstrate academic excellence. A GMAT score above 650 is typically considered satisfactory.
- References. You may have to submit references/recommendation letters (usually two to three are needed) to demonstrate your work experience or to strengthen your application. Ideally, these should be from a former supervisor, manager, or mentor at university or work.
- Personal Statement. To make yourself stand out from other applicants, you will need to submit a personal statement that summarizes your skills, experience, and goals, as well as your motivation to pursue an MBA degree at that university.
- Admission Interview. Depending on the university, you may also be invited to interview with a school representative/s, where you can expect to discuss your goals, motivations, and prior experiences.
Cost of MBA Programs in Australia
The cost of MBA degrees in Australia depends on the university you will attend and the type of MBA program you choose. Some universities are more prestigious and more competitive to get into, therefore fees may be more expensive than other universities. There are also a variety of MBA programs ranging from part-time to full-time, specialised programs, and online MBAs.
We compared pricing for full-time MBAs in the best universities in Australia for this type of degree, and in general, full fees for MBA programs range from AUD 60,000 to AUD 100,000.
Here is the full list of 2023 fees for MBA programs in the top Australian universities for MBAs:
|Melbourne Business School
|Australian Graduate School of Management (AGSM)
|MBA Full-Time Program
|Monash Business School
|The Monash MBA
|Macquarie Business School
|UQ Business School
|The University of Western Australia Business School
|MBA – Intensive
|ANU College of Business & Economics
* All fees presented above are indicative and apply only to international students.
MBA Program Structures in Australian Universities
The good thing about MBA programs is that you are often able to modify your studies according to your career goals and your availability. For this reason, MBA program structures can vary depending on the university you choose, the mode of learning (in person, online, or blended), the pace of learning (intensive, full-time, or part-time), specialisation, etc.
In general, full-time MBA programs in Australian universities last one to two years, whereas part-time programs last two to six years.
Most MBA degree programs will have core subjects that are mandatory and elective subjects. You can also expect a capstone course or final project toward the end of your studies, where you will have to demonstrate the skills and knowledge gained during the MBA program.
Some core courses that may be part of your MBA program in Australia include:
- Foundations of Management
- Data Analysis
- Finance & Financial Accounting
- Managing People and Organizations
- Marketing Management
- Business Strategy
- Management Ethics
- Innovation & Entrepreneurship
- Business Operations
Best Universities for MBA Programs in Australia
Ranking among the best universities globally for their preeminent MBA programs, numerous Australian universities offer outstanding curriculums and facilities to study for this degree.
Here are some of the best universities for MBAs in Australia for you to choose from:
The University of Melbourne – Melbourne Business School
The Melbourne Business School of the University of Melbourne has the best MBA degrees in Australia. With a variety of MBA programs and $2.7 million in scholarships to support its students, Melbourne Business School is an excellent choice for prospective students. Here are the MBA programs you can choose from:
- Full-time MBA
- Part-time MBA
- Online MBA
- Executive MBA
- Senior Executive MBA
UNSW Sydney – Australian Graduate School of Management (AGSM)
With world-class MBA programs and more than $2 million in scholarships, the Australian Graduate School of Management (AGSM) is another exceptional choice. Here are the various MBA programs offered by AGSM at the University of New South Wales (UNSW Sydney).
- MBA Full-Time Program
- MBA Part-Time Program (Executive)
- Master of Laws / MBA (Law) (Double degree)
- MBAX Online(Change)
- MBAX Online(Social Impact)
- MBAX Online (Finance)
- MBAX Online (Technology)
- MBAX Online (Law)
- MBAX Online (General)
Monash University – Monash Business School
Internationally recognised for its excellence, Monash Business School at Monash University offers carefully designed MBA programs, led by experienced professors. Here are the MBA programs you can choose from:
- The Monash MBA
- Global Executive MBA
- MBA Digital
Macquarie University – Macquarie Business School
Spanning 50 years of history and having produced some of the world’s most outstanding graduates, Macquarie Business School at Macquarie University is a great institution for pursuing your MBA. These are the programs offered:
- Master of Business Administration (MBA)
- Global Master of Business Administration
University of Queensland – UQ Business School
The University of Queensland’s Business School dates back to 1926 and has a history rich in achievements since then. Among other postgraduate programs in business, UQ Business School offers the following MBA program:
- Master of Business Administration (MBA)
The University of Western Australia Business School
Situated in Perth, Australia’s sunniest capital, the University of Western Australia’s Business School offers a modern teaching environment with a focus on hands-on learning and real-world experience.
These are the MBA programs you can choose from at this business school:
- Master of Business Administration (MBA) – Intensive
- Master of Business Administration (MBA) – Flexible
- Master of Business Administration (MBA) – Global (only available for Indian citizens and residents)
Australian National University – ANU College of Business & Economics
The College of Business & Economics at the Australian National University is a top-tier institution with numerous quality undergraduate and postgraduate degree programs. This college offers the following MBA program:
- Master of Business Administration (MBA)
An MBA from an Australian university is an excellent way to increase your job prospects and security by gaining specialised skills and knowledge in management and entrepreneurship. With all the superb programs for you to choose from, Australia is the perfect place to start your journey towards MBA studies.