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MBA in Australia – Which are the top MBA colleges in 2023?

MBA in Australia – Which are the top MBA colleges in 2023?
A 14 min read

MBA in Australia is generally a 2-year program. However, the duration for MBA in Australia is between 12 months to 2 years. Many universities have started to offer one-year MBA programs like the University of Queensland, the University of Western Australia, and Melbourne Business school.

Here are the top MBA programs offered by some of the best MBA colleges in Australia*:

Business SchoolDuration
University of Melbourne: Melbourne Business School1-2 years
University of New South Wales: Australian Graduate School of Management (AGSM)12 months
Monash University: Monash Business School2 years
MGSM Macquarie Graduate School of Management1 year
University of Queensland Business School2 years
University of Western Australia Business School1 year
Australian National University (ANU)18 Months
Unisa Business School, University Of South Australia18 months
Uts Business School, University Of Technology Sydney, Australia24 months
RMIT University School of Business and Law24 months

*The top MBA colleges in Australia have been decided based on the QS Global MBA rankings, 2023 Oceania

To study an MBA in Australia, you require a bachelor’s degree, some work experience, and a good GMAT score. Australian Universities demand candidates to have consistent academic scores in high school and bachelor’s level programs. However, eligibility criteria vary from different universities.

In this article, we talk about the best MBA colleges in Australia that you can consider, with career opportunities and salary Post-MBA in Australia. We will also talk about the student/Work Visa requirements.

mba in australia - top colleges, universities, fees, salary

MBA in Australia – Top 5 MBA Universities in Australia

Based on the QS world ranking 2023, Melbourne Business School and the Australian Graduate School of Management (AGSM) hold the top two places in Australia.

Here is a list of the top 5 MBA universities in Australia:

  1. University of Melbourne: Melbourne Business School
  2. University of New South Wales: Australian Graduate School of Management
  3. Monash University: Monash Business School
  4. University of Queensland Business School
  5. MGSM Macquarie
RankingMBA Universities in Australia GMAT ScoreLocation
1.University of Melbourne: Melbourne Business School695Carlton
2.University of New South Wales: Australian Graduate School of Management (AGSM)679Sydney
3.MGSM Macquarie Graduate School of Management680Sydney
4.Monash University: Monash Business School650Caulfield
5.University of Queensland Business School600Brisbane

The average GMAT score to get into Top colleges in Australia is between 600-695.

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1. University of Melbourne – Melbourne Business School

The Melbourne Business School full-time MBA Program ranks number 1 for MBA in Australia, #27 globally. As per the school’s website, Melbourne Business School offers the best MBA and business analytics degree.

Melbourne business school

The full-time MBA program attracts students from across the world who want a fast-paced and challenging experience in the heart of Australia’s most vibrant city. They can choose to complete their MBA degree in one or two years, allowing more time for exchange opportunities and internships.

The average GMAT score for the class of 2022 is 695, with almost 10,000 graduates spread across 95 countries. Coca Cola, eBay, Accenture, PWC, Pepsi, and Uber are some of the companies where Melbourne Business School MBA graduates work.

Curriculum and Electives

The MBA program consists of traditional core subjects plus a range of advanced extras and overseas travel to Asia.

Some of the core subjects include modules such as:

  • Data Analysis
  • Finance
  • Marketing
  • Business Strategy
  • Leadership
  • Managing people
  • Capstone project

Apart from the core subjects, students need to complete six elective subjects from the list of 25, which includes brand management, business law, consumer behavior, corporate strategy, marketing research, mergers and acquisitions, and many more.

Career Management Center and Exchange Programs

The career management center at Melbourne Business School focuses on three key areas – personal effectiveness, business connections, and Individual coaching.

The Personal Effectiveness Program helps students develop soft skills and attributes they need to compete and succeed in the job market. They organize regular recruitment events, internships, CEO visits, and class projects where students work directly with real clients.

The Melbourne Business School has a global network of more than 50 business schools across 23 countries. It is a member of the Partnership in International Management, an association of top business schools worldwide. Some of its exchange partner schools are Chicago Booth, Kellogg, Schulich, LBS, IIMB, Duke, and many more.

2. University of New South Wales – Australian Graduate School of Management (AGSM)

The AGSM full-time 12 months MBA program ranks number 2 for the best MBA colleges in Australia, #31 globally. It is located in Sydney – the financial capital of Australia and gateway to the world’s fastest-growing economic region of South East Asia. The full time MBA program at AGSM requires that you have a minimum of two years full-time professional or managerial work experience.

Australian graduate school of Management

Curriculum and Electives

The course is divided into two stages – Foundations of Management/Core and Electives.

The foundation of management is an intensive three-week course that provides an overview of the role of a general manager and helps in developing skills that you require. The course has a specific focus on business ethics and the role it plays in equipping managers for business success. Other core courses include:

  • Accounting and financial management
  • Corporate Finance
  • Data Analysis and decision making
  • Marketing Management
  • Strategy
  • Managing people and organization
  • Entrepreneurship and Innovation

The stage one requires the student to complete eight courses for two terms.

For stage two, students require to select four elective courses from the given list, over a maximum of two terms. Some of the electives include courses such as venture capital finance, managerial decision making, negotiations, operationalizing, and many more.

Career Management Center and Exchange Program

The AGSM Career Development team helps fulfill students’ career goals through support, resources, and guidance. They have an online platform where students can book career consults, register for an event, and access job boards. They also offer daily industrial insights and organize events to prepare the students for the job market.

The students also can apply for an international exchange program at one of the partner schools in North America, Europe, and Asia. The AGSM has 28 partner schools, including Stern (NYU), Wharton, LBS, and ESADE.

3. MGSM Macquarie Graduate School of Management

The third best MBA in Australia program is Macquarie Graduate school of management. It ranks #82 globally.  The MBA program at Macquarie combines theory with real experiences in a global setting by offering opportunities such as exchange programs and internships.

They also provide flexible study options where the student can choose a pace to complete the degree in two-years or four-years.

MBA colleges in Australia MGSM

Curriculum and Electives

The Macquarie MBA program consists of compulsory core units and electives, where students need to complete at least six elective units. The core units cover the general management disciplines such as Accounting, strategic framework, Operations, marketing, and more.

Students can choose from more than 40 electives offered across categories such as entrepreneurship, marketing, strategy, logistics, and more. The school also provides experiential learning workshops and consulting projects.

Career and Employment Service

The career and employment service at Macquarie are open to students after they have graduated for 12 months. Apart from a face-to-face appointment, they also offer online options such as CV360, which gives you feedback on your resume with tips on how to improve.

Another tool is MyMQ Career Zone, which is a video and tutorial library. It features videos on resume writing, interview planning, contains employer profile, mock interview simulators, psychometric testing practice.

They also host various workshops to help students launch their careers and gain work experience through internships and projects.

4. Monash University – Monash Business School

The Monash Business School full-time two-year MBA program ranks number 4 for best MBA colleges in Australia, #84 globally. The MBA campus is 20-kilometer south-east of Melbourne, Clayton campus. It offers health and fitness centers, transport services, drinking joints with a range of campus eateries.

monash business school

The Monash Business School has a diverse cohort class of 50 students, with students enjoying an average post-graduation salary boost of 76%. They can also take the courses in a combination of daytime, evening, weekend, and intensive modes to allow students to work while completing the program.


The program involves experience-based modules, overseas learning opportunities, industry engagement, and consulting projects. It is structured around four core modulesFoundations, Innovation, Transformation, and Globalization. Each of these modules has a consultancy project providing real-world application of the topics.

Some of the modules are financial accounting, business models and strategy, business analytics, international business, and many more. Students are also required to complete an MBA project that generates deep insights into new organizational requirements. Besides, it helps in developing the skills that are necessary to lead the organizations in the future.

Career Advancement and Exchange Programs

The MBA careers team offers specialized individual support to its students with opportunities for permanent placement and interim engagements. They also provide a suite of events, career planning, simulated interviews, and workshops to help you get the most out of your MBA program.

The Monash MBA Program also involves an intensive study module based at top business schools in Asia – China Europe International Business School (CEIBS) and Sungkyunkwan University (SKKU).

One of the core values of Monash is its research and development relationships with the Australian industry. Thus the international business consulting projects and placements involve close collaboration with business partners.

There are three types of placement – International, Monash, and students sourced placements.

Planning to Study in Australia?

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5. University of Queensland (UQ)

The UQ Business School MBA program ranks number 5 for the best MBA colleges in Australia, #87 globally. The MBA program is a minimum of 18 months with three different study options – Accelerated (12 months), Streamlined (24 months), and Flexible.

mba colleges in australia Australian queensland university

Curriculum and Global Experiences

The business school follows an industry-driven approach, where leading experts and renowned academic staff teach lessons.

The UQ MBA program has three parts – Part A, B, and C. Part A include two courses. Management framework and integrated strategic analysis, whereas Part B, include business economics, accounting, business analytics, marketing, etc. Part C is a capstone project where the students can choose their topics.

Students also get an opportunity to apply to the UQ-Fudan University consulting program, where they will complete a market-entry project for a company looking to expand into China.

Also, the Social Economic Engagement Program (SEEP) offers MBA students a chance to put their classroom learnings into practice and make a lasting difference through working with community organizations.

The UQ Business school offers short-term international opportunities to its students. It is an optional program for two-to-five weeks, where students study at an international partner institution such as Harvard Summer School, Copenhagen Business School, University of Glasgow, and many more.

Career Resource Centre

The center provides customized career solutions that match individual circumstances. They also host programs and workshops designed to prepare students for the global job market. Moreover, there are Mentoring programs for six months, where MBA Alumni share their knowledge and experience with the current batch.

Also, the UQ has developed a massive open course (MOOC) that assists you in developing your employability. It is a free self-paced course where you’ll hear from employers discussing what they look for in a candidate, students sharing their experiences, etc.

Compare 30 Best MBA colleges in Australia 2023

Master of Business administration or MBA in Australia is for 12 – 24 months. The minimum GMAT score required to get into Australian universities for an MBA is 550. However, a 600+ score is believed to be competitive. For instance, the average GMAT score for MBA Class 2022 at Melbourne Business school was 695, whereas, for ustralian Graduate School of Management (AGSM), it was 679.

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Here is the list of best MBA colleges in Australia:

  1. Melbourne Business School
  2. Australian Graduate School of Management (AGSM)
  3. Monash Business School
  4. Queensland Business School
  5.  MGSM Macquarie Graduate School of Management
  6. University of Western Australia Business School
  7.  Australian National University (ANU)
  8. Deakin Business School
  9. University of Wollongong Sydney Campus
  10. RMIT University School of Business and Law
  11. La Trobe Business School
  12. The University of Sydney Business School
  13. Brisbane Graduate School of Business
  14. EBS Business School
  15.  University of Technology (UTS) Graduate School of Business
  16. Adelaide Graduate School of Business (AGSB)
  17. Bond University – MBA
  18. Victoria University Graduate School of Business
  19. Griffith Business School
  20. Chifley Business School
  21.  Charles Sturt University
  22. University of Canberra – MBA
  23. University of Canberra – MBA
  24. Perth Graduate School of Business
  25. James Cook University – MBA
  26. Sydney Graduate School of Management (SGSM)
  27. University of Southern Queensland (USQ)
  28. Australian Catholic University – MBA
  29. Swinburne University of Technology (AGSE)
  30.  Murdoch University – MBA

Let us compare the 30 best MBA colleges in Australia based on the MBA cost and post-MBA Salary.

MBA Fees in Australia – Comparing top 30 MBA colleges in Australia

The cost of an MBA in Australia is approx. $58,953 for domestic and $67,803 for international students. However, these are only the registration fees. You might have to incur additional costs.

Top Australian MBA universities with their MBA fees:

Sr.noMBA Universities in Australia MBA Fees (AUD- Domestic)MBA Fees AUD- International)
1.University of Melbourne: Melbourne Business School$99,630$99,630
2.University of New South Wales: Australian Graduate School of Management (AGSM)$81,720$81,720
3.Monash University: Monash Business School$77,000$100,000
4.University of Queensland Business School$80,208$84,648
5.MGSM Macquarie Graduate School of Management$60,000+$60,000+
6.University of Western Australia Business School$61,500$67,350
7.Australian National University (ANU)$46,680$46,680
8.Deakin University – Deakin Business School$37,000 (per year)$37,000 (per year)
9.University of Wollongong Sydney Campus$59,040$59,040
10.RMIT University School of Business and Law$38,400 (per year)$48,000 (per year)
11.     La Trobe University – La Trobe Business School$39,000 (per year)$42 800 (per year)
12.The University of Sydney Business School$51,500 (per year)$52,500 (per year)
13.Queensland University of Technology (QUT) – Brisbane Graduate School of Business$44,100 (per year)$44,100 (per year)
14.University of South Australia – EBS Business School$69,200$82,700
15.University of Technology (UTS) Graduate School of Business$63,750$73,500
16.University of Adelaide – Adelaide Graduate School of Business (AGSB)$61,500$69,000
17.Bond University – MBA$60,981$65,019
18.Victoria University Graduate School of Business$54,400$64,800
19.Griffith University – Griffith Business School$54,000$59,500
20.Torrens University Australia – Chifley Business School$33,600$38,400
21.Charles Sturt University$58,112$63,872
22.Curtin University of Technology – Curtin Graduate School of Business$49,170$61,200
23.University of Canberra – MBA$51,800$72,000
24.Edith Cowan University (ECU) – Perth Graduate School of Business$49,100$59,800
25.James Cook University – MBA$40,98049,080
26.The University of Western Sydney – Sydney Graduate School of Management (SGSM)$28,520$31,720
27.University of Southern Queensland (USQ)$37,080$44,760
28.Australian Catholic University – MBA$53,808$62,000
29.Swinburne University of Technology (AGSE)$44,400$73,920
30.Murdoch University – MBA$36,360$48,240

MBA Salary in Australia – Comparing top 30 MBA colleges in Australia

The average salary for the best MBA colleges mentioned below is approx. $111,400. Take a look at the table below for MBA Salary, duration, and location of the best colleges in Australia 2021:

MBA in AustraliaDurationMBA SalaryLocation
University of Melbourne: Melbourne Business School1-2 years$125,000Carlton
University of New South Wales: Australian Graduate School of Management (AGSM)16 months$120,000Sydney
Monash University: Monash Business School2 years$135,000Caulfield
University of Queensland Business School1 year$203,000Brisbane
MGSM Macquarie Graduate School of Management2 years$155,000Sydney
University of Western Australia Business School1 year$139,000Crawley
Australian National University (ANU)18 months$99,000Canberra
Deakin University – Deakin Business School18 months$133,000Malvern
University of Wollongong Sydney Campus18 months$48,000Sydney
RMIT University School of Business and Law24 monthsNAMelbourne
La Trobe University – La Trobe Business School18 months$110,000Melbourne
The University of Sydney Business School18 months$112,000Sydney
Queensland University of Technology (QUT) – Brisbane Graduate School of Business18 monthsNABrisbane
University of South Australia – EBS Business School18 months$128,000Adelaide
University of Technology (UTS) Graduate School of Business24 months$110,000Ultimo
University of Adelaide – Adelaide Graduate School of Business (AGSB)18 monthsNASouth Australia
Bond University – MBA12 months$120,000Gold Coast
Victoria University Graduate School of Business18 months$88,000Melbourne
Griffith University – Griffith Business School18 months$71,000Nathan
Torrens University Australia – Chifley Business School18 months$116,000Adelaide
Charles Sturt University18 months$135,000Melbourne
Curtin University of Technology – Curtin Graduate School of Business18 months$149,000Perth
University of Canberra – MBA18 monthsNACanberra
Edith Cowan University (ECU) – Perth Graduate School of Business24 months$49,000Perth
James Cook University – MBA18 months$98,000Queensland
The University of Western Sydney – Sydney Graduate School of Management (SGSM)24 months$99,000Sydney
University of Southern Queensland (USQ)18 months$85,000Queensland
Australian Catholic University – MBA24 monthsNASydney, Melbourne
Swinburne University of Technology (AGSE)18 months$84,000Victoria
Murdoch University – MBA12 months$74,000Murdoch

Why an MBA in Australia?

Australia is slowly becoming one of the top study destinations for MBA aspirants. In Nov 2019 alone, approx. 115,290 Indian students came to study in Australia, out of which 90,792 students enrolled for higher education. But why so many Indian students are choosing MBA in Australia?

The answer is quite simple. Apart from the warm and sunny climate, Australia has a strong economy and favorable visa conditions. According to the U21 Ranking of Higher education Systems 2020, Australia was ranked number #2 for resource, environment, connectivity, and output, making it a perfect destination for career opportunities.

Multicultural Society

Australia has a multicultural society, with almost half of all Australians either born overseas or has one parent born overseas. In addition to English, there are 259 languages spoken in Australian homes, and the most common are Italian, Mandarin, Arabic, Greek, and Cantonese. This has made Australia rich with nationalities and cultures from all over the world.

Apart from this, Australia has favorable visa policies that attract a lot of international students. According to the Australian Department of Home Affairs, the student visa grants (2021-2022) in the higher education sector increased by 12.3% compared to the previous year. On 30 June 2022, there were 150,597 student visas for higher education granted in Australia.

Australian Universities offer Internationally Accredited MBA Programs

The universities in Australia have internationally accredited MBA Programs and provide courses in the most preferred language, i.e., English. They teach you the practical skills and theoretical knowledge to help you succeed. As per the government website, Universities in Australia have re-engineered their approach to teaching and learning to inspire thought-leading creativity among students in every discipline.

Top 100 Best Student Cities are located in Australia

As per the QS Best Student Cities 2023 survey, Melbourne ranks number 5 after London, Munich, Seoul and Zurich. Almost all major cities in Australia make it to the top 100 best student cities ranking with Sydney at #9, Brisbane at #24, and Canberra at #35.

Scholarship budget worth $280 Million for 2020

Australia is friendly about arranging scholarships for deserving international students.

For 2022, the Department of Foreign Affairs and Trade (DFAT) offered 2075 Australia awards scholarships and short courses to individuals from around 27 developing countries. The estimated budget is $200 million.

Some of the significant scholarship programs available for international students are:

  • Australia award
  • Destination Australia
  • Australian APEC Women in Research fellowship

MBA in Australia – Eligibility Requirements

Some of the basic requirements to get an admission at top colleges for MBA in Australia are:

  1. Bachelor’s degree: In any field from a recognized university
  2. Work Experience: It is not mandatory, but having a work experience of at least two-three years proves to be advantageous. Moreover, individual universities give more preference to candidates having 2-3 years of work experience in their filed.
  3. GMAT: Most universities in Australia accept GMAT scores. From the data presented above, we can say that the average GMAT score required to get into the top 5 Australian universities is 600-695.
  4. IELTS

Australian Universities demand candidates to have consistent academic scores in high school and bachelor’s level programs. However, eligibility criteria vary from university to university.

MBA in Australia for International Students

mba in australia for international students

According to UNESCO, Australia is the third most popular destination for international students after the UK and the US. It has seen an overall growth of international enrolment of 11% between 2018-2019. This growth incorporated an 8% increase in application from China and 27% from India.

Besides, a survey conducted by the Australian government in 2018 points out 89% of overall satisfaction amongst the international students in Australia. The same report also states that 98% of the international students were satisfied with the quality of teaching, with 94% of them deciding to study in Australia because of the reputation of the education provider.

Apart from the excellent education system and quality teaching, Australia offers many grants and scholarships to international students to assist them financially. Some of the major scholarship programs available are – Australia Awards, Destination Award, Australian Government research training, and more.

List of MBA Scholarships for Indian and International Students.

Student and Work Visa Requirements for MBA in Australia

student work visa requirements

We can see a gradual increase in the number of student visa applications lodged, which increased from 332,188 applications in 2014-15 to 365,004 applications in 2021-22.

Student visa holders can work up to 40 hours per fortnight during their study period in Australia. After completing the graduation, they can apply for a Work visa, which allows the visa holder to stay, work, and study in Australia temporarily. This temporary graduate visa has two parts – The Graduate Work Stream and Post-Study Work Stream.

To obtain a Graduate Work Stream visa, the applicant must relate to an occupation listed on the occupation skilled list. The holder of this visa can stay for 18 months in Australia.

To obtain the post-study work stream, applicants must have a higher education degree, which allows them to stay between two to four years. Thus, the master’s graduates from Australia may be eligible to apply for a two-year post-study work visa.

Read our related article on Post MBA Visa and Immigration: Working after MBA in  Europe, Canada, Australia.

Now that you are aware of why you should pursue your MBA in Australia,  eligibility, and visa requirements, let us look at the top 5 MBA colleges in detail.

A 700+ on the GMAT can increase your chances of getting an admit to the top MBA colleges in Australia

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Here is a list of top business schools for:

FAQs – MBA in Australia

Why study in Australia?

Here are some reasons why you should study in Australia:
1. Multicultural Society
2. Favorable Visa policies
3. Scholarship Opportunities
4. Internationally Accredited Programs

How many hours can I work on a student visa in Australia?

Student Visa holders can work up to 40 hours per fortnight during their study period in Australia.

What is the average salary post MBA in Australia?

The average mean salary after an MBA from the best MBA colleges is approx. $111,400.

Do business schools in Australia accept GMAT scores for their MBA programs?

Yes. Most business schools in Australia accept GMAT scores.

What is a good GMAT score for MBA in Australia?

The average GMAT score required to get into the top 5 Australian Universities is 600-695.
Learn more about how to identify a good GMAT score in 5-Steps.

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