Australia is slowly becoming one of the top study destinations for MBA aspirants. In Nov 2019 alone, approx. 115,290 Indian students came to Australia to study, out of which 90,792 students enrolled for higher education. Apart from the warm and sunny climate, Australia has a strong economy and diversity. It ranks number 5 for the top 10 countries for MBA Salaries 2019 by Top MBA, with an expected total compensation package of $116,200 and an average bonus of $17,800. Thus, if you are planning to pursue your MBA in Australia, you should be aware of the top business schools there.
In this article, we talk about the top 5 business schools for MBA in Australia and provide you with information relating to their ranking, fee structure, curriculum, and placement. Here is an outline of the topics we will cover:
- Top Business Schools for MBA in Australia
- Why study in Australia?
- MBA in Australia for International students
- MBA in Australia: Eligibility and requirements
- MBA in Australia: Student and Work Visa
MBA in Australia: Top Business Schools
Here is a list of top 5 business schools for MBA in Australia based on the QS University Rankings:
- University of Melbourne: Melbourne Business School
- University of New South Wales: Australian Graduate School of Management
- Monash University: Monash Business School
- University of Queensland Business School
- MGSM Macquarie
The table given below includes the employment rate, salary, duration, and tuition fee for the top business schools in Australia:
|Top Business Schools in Australia||Employment Rate||Mean Salary||Full-time MBA Duration |
|Melbourne Business School||90% (2017)||$115,679||1||$89,500|
|Australian Graduate School of Management (AGSM)||89%||$106,393||1.6||$86,850||$88,350|
|Monash Business School||N/A||N/A||2||$35,200||$44,000|
|University of QueensLand Business School||86%||$170,000||1.6||$49,452||$54,236|
|MGSM Macquarie |
The table given below represents the class profile of the top 5 business schools in Australia:
|Top Business Schools in Australia||Approx. Class Size||Average GMAT Score||Average Age||Average Work experience||% of Women||% of International Students|
|Melbourne Business School (2019)||39||695||29||6||N/A||19|
|Australian Graduate School of Management (AGSM) 2020||53||670||30||7||51%||N/A|
|Monash Business School||50||N/A||30||7||50%||38%|
|University of Queensland Business School||115||600||36||12||34%||44%|
|MGSM Macquarie |
Why Study in Australia?
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 (2018-2019) in the higher education sector increased by 8.8%, as compared to the previous year. On 30 June 2019, there were 5534,139 student visa holders in Australia out of which 49.6% were from China, India or Nepal.
The universities in Australia have internationally accredited MBA Programs and offer courses in the most preferred language, i.e., English. They teach you the practical skills and theoretical knowledge to help you succeed. As per government website, Universities in Australia have re-engineered their approach to teaching and learning to inspire thought-leading creativity among students in every discipline.
Besides, as per the QS Best Student Cities 2019 survey, Melbourne ranks number 3 after London and Tokyo. In fact, almost all major cities in Australia make it to the top 100 best student cities ranking with Sydney at #9, Brisbane at #22 and Canberra at #23.
At last, Australia is friendly about arranging scholarships for deserving international students. Around 3,000 Australia awards scholarships and short courses were offered to students from over 55 countries in 2019 by the government.
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.
MBA in Australia: Eligibility and requirements
To get an admission in a top Australian University, you require:
- Bachelor’s degree: In any field from a recognized university
- 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.
- GMAT: Most universities in Australia accept GMAT score and 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.
Planning to Study in Australia? A good GMAT score can increase your chances of an admit. Start your GMAT Preparation online with our free trial and get access to free GMAT resources and quality content.
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: Student and Work Visa
We can see a gradual increase in the number of student visa applications lodged, which increased from 332,188 applications in 2014-15 to 473,415 applications in 2018-19.
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.
MBA in Australia: Top Business Schools #1: University of Melbourne – Melbourne Business School
The Melbourne Business School full-time 1-year MBA program ranks number 1 for MBA in Australia, #26 globally. As per the school’s website, Melbourne Business School offers the best MBA and business analytics degree.
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 2019 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 are working.
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
- Business in Asia
- People Management
- 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 in developing 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 around the world. Some of its exchange partner schools are Chicago Booth, Kellogg, Schulich, LBS, IIMB, Duke, and many more.
|Melbourne Business School MBA Program||Round1||Round 2||Round 3||Round 4|
|Application Deadline||31st August 2019||31st December 2019||31st March 2020||30th April 2020|
|Interview Invitation||16th September 2019||17th January 2020||16th April 2020||15th May 2020|
|Final Decision||4th October 2019||5th February 2020||5th May 2020||5th June 2020|
*All applications should be submitted 11:59 pm AEST.
MBA in Australia: Top Business Schools #2: University of New South Wales – Australian Graduate School of Management (AGSM)
The AGSM full-time 16 months MBA program ranks number 2 for the best MBA in Australia colleges, #42 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.
It has a relatively bigger class size (53) as compared to Melbourne Business School (39), with an average GMAT score of 670 for the class of 2020.
Curriculum and Electives
The course is divided into two stages – Foundations of Management/Core and Electives.
The foundation of management is an intensive two-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:
- Corporate Finance
- Data Analysis and Statistical Modelling
- Marketing Management
- Managing people and organization
- Entrepreneurship and Innovation
The stage one requires the student to complete nine courses for two terms.
For stage two, students require to select seven elective courses from the list of 15, over a maximum of two terms. Some of the electives include courses such as venture capital finance, digital business and marketing strategy, negotiations, operationalizing, and many more.
Career Management Center and Exchange Program
The AGSM Career Development team helps in fulfilling 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 get the opportunity to 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.
The Applications to AGSM Full-time MBA Program is open for January 2021 batch.
|AGSM Full-Time MBA||Summer 2021 intake application deadline||Offers Sent||Acceptance deadline|
|Round 1||May 01||May 30||June 30|
|Round 2||June 01||June 30||July 40|
|Round 3||July 01||July 30||August 30|
|Round 4||August 01||August 30||September 30|
|Round 4||September 01||September 30||October 30|
|Round 6||October 01||October 30||November 30|
|Round 7 (Domestic only)||October 30||November 15||December 15|
MBA in Australia: Top Business Schools #3: Monash University – Monash Business School
The Monash Business School full-time two-year MBA program ranks number 3 for best MBA in Australia colleges, #89 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.
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 classes 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, oversea learning opportunities, industry engagement, and consulting projects. It is structured around four core modules – Foundations, 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 helps in generating deep insights into contemporary 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 offer 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.
There is only one intake for the MBA per year, with the program commencing in February each year. For the 2020 intake, the deadline has passed.
|Monash MBA Program Application Deadline|
|Round 1||May 31st, 2019|
|Round 2||July 31st, 2019|
|Round 3||September 30th, 2019|
MBA in Australia: Top Business Schools #4: University of Queensland (UQ)
The UQ Business School MBA program ranks number 4 for the best MBA in Australia colleges, #111 – 120 globally. The MBA program is minimum for 18 months with three different study options – Accelerated (12 months), Streamlined (24 months), and Flexible.
The average salary after graduation is approx — $ 170,000, with 77% of graduates changing careers after the program.
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 courses such as 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 that is 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.
MBA 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.
The UQ MBA program, Semester 1, starts from 13 Jan 2020 and Semester 2 from 03 July 2020. The closing date for the MBA program is May 31st to commence study in semester two and November 30 to commence study in semester one.
MBA in Australia: Top Business Schools #5: MGSM Macquarie
The fifth best MBA in Australia program is Macquarie Graduate school of management. It ranks #121-130 globally. The MBA program at Macquarie combines theory with real experiences in a global setting by offers 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.
The average GMAT score required is 680, with a class size of 108. The average mean salary for Macquarie students is approx. $95,741, with 88% of the graduates employed within three months of graduation.
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 offers 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 help them to gain work experience through internships and projects.
|MGSM – MBA Program||Domestic||International|
|Term 1||06 December 2019||08 November 2019|
|Term 2||16 March 2020||07 February 2020|
|Term 3||09 June 2020||01 May 2020|
|Term 4||31 August 2020||24 July 2020|
A 700+ on the GMAT can increase your chances of getting an admit to the top MBA colleges in Australia. Start your GMAT Preparation with our Free Trial and access free resources. We also offer a personalized study planner and help you track your performance.
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