MBA in Australia 2023, Scholarships, Full-time MBA Programs, GMAT

MBA in Australia 2023: MBA is a one-year (full-time) professional degree offered by over 58 institutes in Australia. To be admitted to business schools in Australia, candidates must have a bachelor’s degree with a grade point average of 55-65 and an IELTS score of at least 6.5. (equivalents accepted). MBA programmes in Australia demand 2-3 years of previous work experience, as well as GMAT and IELTS scores. GMAT scores are not mandatorily required by every college for MBA enrollment in Australia. Some notable business schools in Australia that allow students into MBA programmes without the GMAT are Monash, Macquarie, Deakin, and LaTrobe University.

MBA tuition fee at Australian colleges is between 40,000 and 63,000 USD. MBA in Australia might cost up to 45-50 lakhs in Indian rupees. However, with grants & scholarships for MBA in Australia, the cost may be kept to a minimum. Scholarships make higher education degrees like MBA more accessible in Australia. There are several government-sponsored scholarships available to MBA students in Australia that cover up to 100 percent of tuition fees. With the increasing need for managers, students with an MBA from Australia earn a median income of roughly 98K USD. Accounting and finance are one of the top-earning MBA specializations in Australia, with a mean yearly salary of 60K USD.

MBA in Australia Admission Highlights:

Course Name MBA
Top Ranking University Australian National University
Country Australia
Course Duration 15 months – 2 years
GMAT/GRE Required
Average Cost of Study AUS $50,000
IELTS/TOEFL Required
Work Experience Minimum of 2-4 years
Visa Duration Usually between 2 – 4 years
Average Salary AUS $95,000 (inr 53.2 lakhs)

Why Pursue MBA from Australia?

Education in Australia is among the best and most relevant to market demands. Students who have graduated from Australian universities and business schools are placed in high-level positions with above-average annual income. There are more reasons to pursue an MBA from Australia, which is listed below:

  • According to the QS Global MBA Ranking 2021, five Australian business schools have been listed among the top 100 business schools in the world.
  • MBA programmes in Australia are certified by a number of globally renowned organisations, including EQUIS, AACSB, and AMBA. As a result, it is known all over the world.
  • QS News has named Australia one of the best nations for MBA wages in 2020. It ranks fifth with 98.4K USD average salaries, after nations such as the United Kingdom (92.4K USD), German (77.2K USD), and Japan (80K USD).

MBA Colleges in Australia:

QS News Global MBA Ranking named 13 Australian university business schools among the top 250 business schools in the world. The table below displays the top ten colleges in Australia along with the fees that offer full-time MBA programmes:                         

  • Melbourne Business School                                                 62K USD
  • UWA Business School                                                          42K USD
  • Deakin Business School                                                       43K USD
  • Sydney Business School                                                      44K USD
  • Monash Business School                                                    61K USD
  • Macquarie Graduate School of Management                        55K USD
  • UTS Business School                                                           63K USD
  • Unisa Business School                                                          27K USD
  • AGSM Business School                                                         60K USD
  • UQ Business School                                                              56K USD

MBA in Australia Admissions 2023:

Admission to business schools is primarily based on undergraduate degree marks, significant job experience, and an interview with business school professors. Admission to Australian institutions can be obtained by:

Direct Applications:

Go to the university’s official website and apply using the apply now options on the course page.

Agents:

Look through university websites to find out who their agents are in your country. Approach them with the required documentation. Throughout the procedure, the agents will assist you.

Major Requirements for MBA Admission in Australia

  • Bachelor’s degrees in any discipline
  • Bachelors must have a minimum of 65%.
  • updated resume and portfolio
  • At least two letters of recommendation from former employers or academics
  • Face-to-face, video, or phone interviews
  • A high GMAT/GRE score
  • At least two years of experience in a management or business-related sector is required.
  • English Proficiency is required. Because the program at Australian institutions is entirely in English, overseas students are required to submit IELTS results to demonstrate competency in the language. Students with IELTS scores ranging from 6.5 to 7.0 can easily gain admission to prominent MBA programmes in Australia.

GMAT Requirements:

Most Australian universities and business institutions need a solid GMAT score from individuals seeking admission to the MBA programme. Below is the list of colleges along with the minimum GMAT score and work experience they require for offering admission to the MBA program:

  • Melbourne Business School: The business school requires a minimum GMAT score of 705 along with 2 years of work experience.
  • ANU College of Business & Economics: This college requires a minimum GMAT score of 600 along with 5 years of work experience.
  • AGSM Business School: This business school requires a minimum GMAT score of 650 along with 2 years of work experience.
  • UTS Business School: The school requires a minimum GMAT score of 550 along with 4 years of work experience.

MBA in Australia without GMAT:

There are some top institutes as well in Australia which do not require GMAT scores for MBA Admission. Aspiring candidates can learn more about such institutions below:

Deakin Business School:

Students who meet one of the following qualifying conditions can apply to Deakin Business School without a GMAT score:

  • Candidates having a bachelor’s degree/Master’s Qualifying Program (MQP) in any field and three years of work experience
  • Five years of work experience and a graduate certificate in a relevant subject

La Trobe Business School:

Candidates with appropriate job experience in a managerial role are accepted by the business school. Three years of work experience is required. Aspiring applicants must also have a bachelor’s degree with a minimum of 60%.

Monash Business School:

Monash Business School, ranked 73 by QS News 2021, is one of Australia’s prestigious institutions. Students with three years of experience and one year of management experience can enrol without a GMAT score.

Cost of Living in Australia:

The entire yearly living cost for a foreign student in Australia is expected to be 14,432 USD, according to the Australian Department of Home Affairs. This covers lodging, food, textbooks, materials, travel, individual expenditures, and so forth.

The cost of living varies by city, thus candidates considering admission to an Australian institution should be well prepared with an anticipated budget.

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