Things You Need to Know About Choosing an MBA Program in Australia
MBA in Australia: Pursuing an MBA is significant for many professionals looking to enhance their careers and broaden their horizons. Australia has become a top destination for MBA programs, offering diverse specialisations, flexible study modes, and high-quality education.
With its vibrant academic landscape and favourable post-study work opportunities, an MBA from an Australian institution can provide graduates with a competitive edge in the global job market. In this blog you will explores Australia’s various types of MBA programs, their costs, eligibility criteria, and the benefits of studying there, among others.
MBA in Australia: Types of MBA Programs
MBA (General)
Curriculum Overview:
- Business management and leadership principles.
- Foundational skills across various disciplines include communication, problem-solving, and creative and critical thinking.
- Effective business practices aimed at enhancing productivity, resolving challenges, and fostering client and stakeholder relationships.
- Risk management strategies.
Ideal Candidates:
- Current and aspiring business owners.
- Budding entrepreneurs.
- Business consultants.
- Individuals seeking to upskill or transition in their careers.
MBA (Specialisation)
Curriculum Overview:
- Development of industry-specific skills while retaining foundational competencies.
Ideal Candidates:
- Professionals aiming to advance within their current industry or manage aspects of diverse sectors.
- New business developers and consultants.
MBA (Dual Specialisation)
Curriculum Overview:
- Acquisition of knowledge and skills in two distinct yet complementary areas without additional subjects.
Ideal Candidates:
- Individuals with two clear areas of interest.
- Those considering a career change.
Read More – Scholarships for Indian Students for Master’s in the UK
MBA in Australia: Delivery Modes for MBA Programs
Most institutions offer MBA programs in various delivery modes to accommodate different lifestyles and commitments:
| Full-Time | Part-Time | Online | |||
| Benefits: | Ideal Candidates: | Benefits: | Ideal Candidates: | Benefits: | Ideal Candidates: |
| 1. Accelerated completion of the program.
2. Enhanced critical and creative thinking skills through comprehensive coursework and professional insights. 3. Increased opportunities for gaining relevant professional experience concurrently. |
Students can commit to two subjects per trimester, typically involving 3 hours of class time plus approximately 14 hours of self-study per week. | Flexibility in managing time while progressing toward career objectives and obtaining accreditation. | Full-time professionals balancing personal obligations who can dedicate themselves to one subject per trimester, including 3 hours of classes and around 14 hours of self-study per week. | The ability to study at your convenience, with options for live weekly webinars or recorded sessions. | 1. Busy professionals or parents re-entering the workforce and international students wishing to pursue their studies without relocating.
2. By understanding the costs, program types, and delivery modes, prospective MBA students can make informed decisions that align with their personal and professional goals. |
MBA in Australia: Duration of an MBA Program
The duration of an MBA program can vary significantly among institutions; however, a full-time MBA typically spans six trimesters, equating to approximately two years. During this period, students may pursue a general MBA, an MBA with a specialisation, or a dual specialisation. Some institutions also offer accelerated study options based on subject availability, allowing for a quicker completion of the degree.
MBA in Australia: Eligibility Criteria for MBA Programs (International applicants)
Entry requirements for MBA programs differ across institutions. For instance, Kaplan Business School mandates applicants possess an Australian bachelor’s degree or an equivalent qualification. In addition to formal education, schools may consider TAFE or VET qualifications, relevant work experience, and informal study when assessing applications.
International applicants must also present an Australian bachelor’s degree or a comparable qualification. To facilitate this process, the Department of Education and Training must assess overseas qualifications to ensure alignment with Australian postgraduate entry requirements.
Furthermore, international students must meet specific English language proficiency standards. For those who do not meet the required levels, institutions often offer the option to enroll in English for Academic Purposes courses to improve their skills before commencing their MBA studies.
MBA in Australia: Eligibility Criteria for MBA Programs (Indian Applicants)
The entry requirements may vary based on the type of MBA program selected—whether a General Management course or a Master of Business Administration (MBA). Below are the most common prerequisites:
- GMAT Requirement: Many institutions require candidates to achieve a satisfactory score on the GMAT exam.
- Bachelor’s Degree: Applicants are generally expected to have a 3—or 4-year undergraduate degree and a minimum academic score of 60%.
- Work Experience: Most programs seek candidates with at least three years of managerial work experience. However, some universities may only accept applicants with prior work experience.
- English Language Proficiency: Prospective students must submit English language test scores, such as those from the IELTS, to demonstrate adequate proficiency.
Potential applicants should verify the specific entry requirements of their chosen institution or consult with an education expert to ensure they meet all necessary criteria.
MBA in Australia: Age Limit for Pursuing an MBA
The decision to pursue an MBA should not be limited by age. Many professionals opt to return to academia at various stages of their careers after gaining industry experience. Additionally, recent graduates can leverage an MBA to expedite their career advancement.
Consider the following factors when determining the optimal time for your MBA:
- Availability of Time: Assess whether you can commit the necessary time to complete an MBA at this stage in your life.
- Motivation: Reflect on your reasons for pursuing an MBA. Those seeking promotion from junior positions may have different timelines than individuals aiming to pivot to a new career.
- Career Trajectory: Evaluate your specific career goals and how an MBA aligns with them.
- Study Mode: Decide whether you prefer full-time or part-time study, based on your professional and personal commitments.
MBA in Australia: Cost of Pursuing an MBA in Australia
According to data from the Australian government, the average cost of studying for an MBA ranges from AUD 50,000 (₹36,60,950) to AUD 81,400 (₹59,60,026) per year, depending on the institution. Top universities typically have higher tuition fees compared to mid-ranking institutions. However, most Australian universities offer scholarships that can help reduce your overall study costs.
It is advisable to consult with an educational facilitator, such as IMS India, to ensure you select a program that aligns with your academic and professional aspirations. They can provide personalized profile enhancement and offer opportunities for gaining internship experience with top companies worldwide. Additionally, they can assist you in identifying the most suitable institutions in Australia based on your specific goals and preferred learning outcomes.
If you’d like to learn more about studying abroad and choosing the right university, check out our quick guide.
MBA in Australia: Why Pursue an MBA in Australia?
Studying for an MBA in Australia presents numerous benefits, making it a preferred choice for many students. Here are some compelling reasons:
- High Quality of Life: Australia consistently ranks among the world’s top ten most liveable countries. Its robust education system, high standard of living, relaxed lifestyle, natural beauty, and vibrant urban environments enrich the study experience.
- Reputation for Excellence: Graduates from Australian institutions are highly regarded globally, thanks to the strong reputation of the Australian education system. This recognition enhances employability and career prospects.
- Regulatory Protections: International students benefit from the protections offered by the Education Services for Overseas Students (ESOS) Act and oversight from national regulatory agencies such as the Tertiary Education Quality and Standards Agency (TEQSA).
- Globally Recognised Qualifications: The Australian Qualification Framework (AQF) ensures that your qualifications are recognised internationally, facilitating opportunities for global career mobility.
- Post-Study Work Opportunities: Upon completing your master’s degree at Kaplan Business School, you may be eligible to apply for a two-year post-study work visa in Australia, allowing you to gain valuable professional experience.
- Work While Studying: International students are permitted to work up to 40 hours per fortnight during their studies, providing a means to support themselves financially and gain local experience.
MBA in Australia: Choosing Between Business Schools and Universities
When selecting an institution for your MBA, it’s essential to understand the differences between business schools and universities in Australia:
- Institution Type: Business schools like IMS India are independent private providers offering accredited courses focused primarily on business-related disciplines. In contrast, public universities must provide a broader range of degrees across multiple fields and often emphasise research.
- Size and Environment: Universities can be large, accommodating thousands of students and offering extensive facilities and extracurricular activities. Business schools, typically smaller, often provide more personalised attention and support due to reduced class sizes.
- Industry Connections: While traditional universities may focus heavily on academic outcomes, business schools are often recognised for their emphasis on practical student support and the employability of their graduates.
MBA in Australia: Scholarships for Indian Students
Australian institutions offer various scholarships aimed at supporting international students. Additionally, the Australian government and various public and private organizations provide numerous scholarships, grants, and bursaries. When considering financial assistance, it is essential to review eligibility criteria and application deadlines.
Course Duration
An MBA program in Australia typically lasts between 15 months and two years, with some universities offering accelerated one-year options.
Career Opportunities Post-MBA
Upon completing your MBA, graduates can pursue a wide range of roles, including:
- Account Director
- Business Relationship Manager
- Sales Manager
- Business Development Manager
- Company Director
- Finance Director
- IT Project Manager
- Marketing Director
- Operations Manager
MBA in Australia: Average Salary After MBA in Australia
According to data from PayScale, the average salary for MBA graduates in Australia varies based on several factors, including work experience, industry, job role, and geographical location.
On average, MBA holders can expect significantly higher earning potential than individuals with only a bachelor’s degree. The typical salary range for MBA graduates in Australia falls between AUD 80,000 and AUD 196,433 per year.
However, it is crucial to recognise that individual salaries may differ markedly due to several determinants, such as:
- Prior Work Experience: More experienced candidates often command higher salaries.
- University Reputation: Graduates from prestigious institutions may enjoy better salary prospects.
- Specialisation: Specific MBA specialisations can lead to higher-paying roles in niche industries.
- Negotiation Skills: Strong negotiation abilities can significantly influence starting salaries.
- Industry Conditions: Salaries are also affected by the demand for skilled professionals within specific sectors.
MBA in Australia: Work Permit After Completing an MBA in Australia
A work visa is essential to remain in Australia and work after completing your MBA. The Temporary Graduate visa (subclass 485) is the most common option for international students. This visa allows graduates to gain valuable work experience in Australia post-study.
Key Details of the Temporary Graduate Visa:
- Duration: The visa is typically valid for 2 to 4 years, depending on individual qualifications.
- Processing Time: Visa processing may take between 6 to 12 months.
- Eligibility: This temporary visa is available to students who have completed at least two years of study in Australia.
Conclusion
Pursuing an MBA in Australia can be a transformative experience that opens doors to numerous career opportunities. With a variety of programs tailored to different professional needs, flexible delivery modes, and the potential for significant financial returns, an Australian MBA equips students with the skills and knowledge necessary to thrive in today’s competitive landscape.
By understanding the costs, program types, and eligibility requirements, prospective students can make informed decisions that align with their personal and professional goals. Whether you’re a recent graduate or an experienced professional, an MBA in Australia could be the key to unlocking your potential and achieving your aspirations.
