MBA in Australia: Top Universities, Courses, Eligibility, Fee

If you are making up your mind to pursue an MBA, then Australia might be calling for you! With a spike in demand and an extreme shortage of MBA professionals, the country has been looking for students with high-level management skills. Even if you are not very good at managing, these skills can be developed over time by enrolling on a professional course like MBA. Read the blog to understand what an MBA is and how MBA in Australia can benefit your career and professional goals.  

What is an MBA?

An MBA or master's in business administration is a postgraduate degree made for professionals in the industry who want to understand the practical implications and leadership aspects of management. An MBA covers a wide range of scopes and helps professionals understand the varied fields of business, like accounting, marketing, relationship management, and finance. Although MBA is not everyone's cup of tea, it can be an excellent option for upskilling your career and opportunities. Here are five reasons why you should do an MBA

• MBA helps you broaden your business network, which will help you reach global heights
• A majority of MBA professionals enjoy a high salary package.  
• Are you looking to make a career change? Don't look any further MBA might be the right promising career for you. 
• A different outlook and perspective are gained after studying for an MBA; this sets you apart from the general competition and crowd. 
• You can learn and use your skills in countries like the UK, Australia, the USA, Germany, etc. 

Recently, MBA in Australia is becoming popular and has been the talk of the town for every MBA aspirant. If you want to know more about studying MBA in Australia, read why we encourage you to pick Australia out of the many options.

Types of MBA Specialisation

MBA is one of Australia's most sought-after careers; with its varied range of specialisations and prospects, the scope of an MBA should not be underestimated. Here some of the most popular specialisations of MBA in Australia include

• MBA in E-commerce
• MBA in Marketing
• MBA in International Business 
• MBA in Strategy and Leadership 
• MBA in Human Resource Management
• MBA in Finance   

Even with so many specialisations and opportunities lined up, getting into a program for MBA in Australia is a tough nut to crack. 

MBA Eligibility Criteria

The MBA courses in Australia have eligibility criteria that candidates have to pass through. Even though the requirements aren't huge, there are some criteria supposed to be met before you qualify as a well-rounded MBA professional. It would help if you kept in mind that some universities might have their own additional and personal requirements. So, ensure you scan through the entire list of eligibility criteria before applying for any programmes. 

However, some standard requirements Australian universities look for in MBA applicants when screening their applications are as follows.

1. Bachelor's Degree

The most common myth surrounding MBA admissions is that the degree requires applicants to have a business background. But, students from any field are eligible to apply for the programme. 

2. English Scores 

As Australia is English-speaking and most MBA courses are taught in English, students must prove their proficiency by giving English language tests. Students can give the IELTS, PTE, or TOEFL based on the university. IELTS is the most widely accepted; you can check out our blog on  Tips and Tricks To Crack The IELTS Entrance Exam to ace your upcoming test. 

3.GMAT/ GRE

GMAT or GRE are standardised tests that are designed to filter applicants who are applying for business programmes. These tests help to assess an applicant's quantitative and qualitative skills, which are essential to thrive in the business world. To get into a top-tier university, you must score 600-650 on your GMAT and 320-325 on your GRE. Although there is some good news, some universities can also waive this requirement depending on different factors and circumstances. For MBA in Australia, most universities do have waivers on GMAT and GRE tests.

4.Work Experience

MBA is a degree made for budding professionals who want to polish their leadership and management skills. To do that, you need to be in a practical and professional environment. If you plan to do an MBA in Australia, you will require 2-4 years of industry experience.  

GMAT or GRE

As mentioned above, GMAT or GRE scores are a compulsory prerequisite for acceptance from the top business schools in Australia. Most MBA aspirants usually face the dilemma of whether to appear for the GMAT or GRE test. As there is no right or wrong approach, you can compare both tests and decide which one is best for you based on your    

• Strengths
• Testing taking style
• Target University
• Career Goals

Both tests are recognised and acceptable in almost all business schools in Australia. If you are planning to take the GMAT and want to delve into more details, check out our Your Ultimate Guide To Prepare For The GMAT blog.

Why Study in Australia

Australia is a land of opportunities, and there are a dozen good reasons why you should keep an eye on it while making your study abroad decision. 

• Australian universities offer a wide range of courses globally recognised by many countries. An accreditation from any Australian university can open a world of possibilities for your employment. 
• We have some excellent news regarding university acceptance; due to low competition and high acceptance rates, students can have a higher chance of getting into their desired programme.
• Just like universities accept easily, the people of Australia also welcome students from different countries and cultures.
• The major worry of studying abroad is the cost of tuition fees, but this worry wouldn't be looming around if you decide to study in Australia. The country is generous in helping international students with funding and scholarship options. 
• Even though Australia might seem to be a country that is very expensive to live in, the reality speaks for itself. It is much more affordable than you can imagine
• Australia offers good quality education and good paying opportunities for its international students. There are many demanding professions and skilled workers in the Australian job market.
• One of the most seeked jobs by Australian employers is an MBA professional. If you are looking for studying MBA, you should target some Australian universities.

Check out the rest of our blog, Study in Australia 8 secret benefits. 

Best MBA Colleges In Australia

Many prestigious universities uphold the position of having the best programmes in MBA in Australia:

• Macquarie Business School
• Monash Business School
• Melbourne Business School
• University of New South Wales Business School
• The University of Queensland

To learn about other prestigious universities that help international students pursue an MBA in Australia, check out our blog, Top 10 MBA Colleges in Australia.

MBA In Australia Fees

For MBA programmes, Australian university fees usually cost an average of $57,353. Although MBA in Australia is expensive, they all come for the value of excellent teaching, support, experience, and employment opportunities. There are many options for the cheapest MBA in Australia for international students, but through various international scholarships, you can waive your tuition fees.

MBA Job Opportunities In Australia

After graduating from top-notch business schools in Australia, the possibilities of you bagging a high-paying job is endless. With an extension of 1.5 years of postgraduate work permit, students can put their skills to the test and work in different roles depending on their specialisation. Some of the most hired MBA professional jobs are: 

1. Marketing Manager 

If you have an MBA with a specialisation in marketing, this is the career for you. As a marketing manager, you will be in charge of doing market research, developing marketing strategies, managing content, and so on. Marketing managers in Australia earn roughly $1,12,250 per year, making it a highly competitive and well-paying career.

2. Sales Manager

A sales manager plays a pivotal role in the success of a company's sales and marketing goals. Every day, your role as a sales manager would be creating strategies to drive more sales, meeting sales targets, generating leads, hiring, coaching sales representatives, etc. Post-MBA in Australia, the salary of a sales manager is very high and competitive, with an average of $ 1,10,000 per year.

3. HR Manager

HR Manager job roles are evergreen, with a continuous high demand for professionals every year. As an HR Manager, your prime duties will be managing company employees, onboarding new talent, looking into any grievances, and looking into compensation and benefits. After your MBA in Australia, you will get a competitive salary of $120,000 per year as an HR Manager.

4. Financial Advisor

An MBA in finance specialisation can get you a high paid financial advisor job. As a financial advisor, you will give valuable financial advice on finances and capital management in exchange for a fee. An average Financial Advisor in Australia earns around $145,519 per year. 

5. Business Analyst

If you like looking into data and pulling out insights and information, then the role of a business analyst might suit your interests. With such insights, businesses can make better and more informed decisions. After an MBA in Australia, a business analyst can demand an average of $141,102 per year as their package. 

6. Project manager

In Australia, project managers are in high demand. As a project manager, you will oversee individual, organisational projects from start to finish. Some of the primary responsibilities will include monitoring the entire project, coordinating, planning, and assuring timely delivery within the assigned budget. An average salary of a project manager post-MBA would be around $165,000 yearly. Other MBA career options are available, like Investment Banking, Business consulting, Business development manager, chief technology officer, etc. After doing an MBA in Australia, graduates are hired mainly by top MNCs in Australia like Commonwealth Bank of Australia, JP Morgan, Barclays, HSBC Global Asset Management, etc. To see what gets you paid more as a graduate student in Australia, you can check out our blog, Top 15 highest paying jobs in Australia.    

7. General Manager

A general manager role is ideal for those with leadership skills and a strategic mindset. As a general manager, you will oversee the daily operations of a business unit or department, ensuring it aligns with the company's goals and objectives. Responsibilities include planning budgets, setting performance targets, and leading teams. For those looking to excel in operations, an MBA in Logistics & Supply Chain can be valuable. Programs like the AIB Online MBA offer flexible learning for professionals. After completing an MBA in Australia, general managers can earn an average salary of $170,000 annually, making it a lucrative and prestigious position.

Now that you are familiar with what an MBA is and the process of doing an MBA in Australia, make sure you are quick to jumpstart your application process. Choose your desired course, get all your documents together, and apply to your university. Check out our blog if you need further information on Australia or any application process.