MBA in Australia: Ranking, Cost, Eligibility, Exams
Australia has been considered as among the top 5 places to study MBA abroad. So, if you are planning an international MBA then taking a closer look at the Australia B-schools is something you should definitely consider!
Not only does Australia house a range of top-tier MBA programs, but there are plenty of career opportunities in the country as well. For those seeking an international placement through their MBA degree, Australia is a great place to choose. It has a great rate of industrial growth, and is considered to be one of the best places to have a career in consulting or finance.
So, what are the top places to study MBA in Australia and how do you get into them? You are going to find all the necessary answers below!
Top B-schools for MBA in Australia
Australia has a large range of business schools for you to choose from. Here’s a quick look at how these schools rank globally –
|Business School||Australian Rank||Asia Pacific Rank|
|Melbourne Business School||1||3|
|AGSM MBA, University of New South Wales||2||5|
|MGSM Macquarie University||3||14|
|UQ Business School (University of Queensland)||4||15|
|UWA Business School (University of Western Australia)||5||16|
|Wollongong (Sydney Business School)||9||21-26|
|La Trobe Business School||10||27+|
|Victoria Graduate School of Business||11||27+|
Source: MBA News
A full-time MBA program at any of these schools will give your career the perfect boost it needs. They are highly accessible, and many of them are also one year in length. So, if you want a quick MBA course, you should definitely consider some of these schools.
If you are thinking about the industry that you are likely to be placed in, then here’s the data for industry wise placement from last year’s MBA batch of Melbourne Business School –
By now you have definitely realized that these MBA programs hold a huge amount of potential. And another reason why they are becoming increasingly popular is due to the more relaxed nature of the application criteria. So let’s have a look.
Eligibility for MBA in Australia
Your GMAT score will serve as one of the primary aspects of your application. Depending on the B-school of your choice the average requirement can be anywhere between 650 – 700, so if your score is in the 680 – 690 range then you have a strong application.
Here are the average GMAT scores of the top Australia B-schools –
|Ranking||MBA Universities in Australia||GMAT Score|
|1.||University of Melbourne: Melbourne Business School||695|
|2.||University of New South Wales: Australian Graduate School of Management (AGSM)||686|
|3.||Monash University: Monash Business School||650|
|4.||University of Queensland Business School||600|
|5.||MGSM Macquarie Graduate School of Management||680|
What you can tell right off the bat is that these scores are much lesser than American or European MBA programs. Here are the average GMAT scores of some of the top American B-schools –
|B-School||Average GMAT Score 2018||Average GMAT Score 2017|
|University of Chicago – Booth School of Business||730||726|
|Kellogg School of Management||732||728|
|Harvard Business School||730||729|
|University of Pennsylvania – Wharton School||732||730|
|Stanford University – Graduate School of Business||737||737|
|UCLA – UCLA Anderson School of Management||715||715|
|University of Virginia – Darden School of Business||713||712|
|Columbia Business School||725||718|
Even though the GMAT score requirements for the Australian B-schools are lower than the American ones, you may still be facing some difficulties. Here are pro-tips for applying to top MBA programs with a low GMAT score –
Most Australian B-schools will require you to have 3+ years of work experience in order to qualify. But, your work experience will also be judged qualitatively. So, if you have less than 3 years of work experience but have gained important roles and responsibilities, then you will still be considered as a strong candidate as long as your GMAT score is above average.
You will require a set of recommendation letters as well as a good GPA from a reputed college. Most B-schools will also ask for your TOEFL/IELTS score as well, but the criteria for them are quite relaxed.
Costs & Scholarship for MBA in Australia
Studying MBA in Australia is not a costly affair at all. Rather, if you plan it right and secure good scholarship then you can easily manage the expenses!
Here’s a look at the course fee for the top MBA programs in Australia –
|B-school||Approx Course Fee|
|University of Sydney Business School||$97,500|
|University of New South Wales (AGSM)||$87,820|
|University of Melbourne (MBS)||$85,470|
|University of New South Wales (AGSM)||$84,135|
|Macquarie University (MGSM)||$80,000|
|University of Sydney Business School||$75,000|
|University of Western Australia||$73,500|
|University of Technology Sydney||$62,784|
|University of Adelaide||$60,000|
|QUT Business School||$57,600|
|University of New South Wales (AGSM)||$56,520|
Source: MBA News
If these figures seem high to you, don’t be worried, there are plenty of scholarships to help fund your MBA in Australia!
Most of these schools have their own scholarship programs that you can find the details about on their websites. Here’s a quick overview:
|B-school||Scholarship Type||Scholarship Amount (average)|
|Curtin University||Curtin International Scholarship||25% of the tuition fee for the first year|
|Curtin University||MBA International Scholarship||15,000 AUD|
|University of Queensland||India Global Leaders Scholarships (Business, Economics & Law)||5,000 UD – 20,000 AUD|
|University of Queensland||MBA Student Scholarship||25% reduction in tuition fee|
|University of Southern Queensland||CEG Scholarship||20% waiver in tuition fee|
|Curtin University||MBA (Global) Scholarship||20% waiver in tuition fee|
|University of Southern Queensland||USQ Scholarship||20% waiver in tuition fee|
|University of Newcastle||MBA Global International Student Scholarship||2,500 AUD|
There are also external scholarships that you can apply for. These include the Deakin India Scholarship, the Dr. Abdul Kalam International Scholarship, etc.
Australia is definitely a great study and career destination. And if you are able to make it to one of these MBA programs, the rest of your career will definitely be an uphill journey!