Cost of Studying MBA in Australia
The cost of studying MBA in Australia is anywhere between 40,000 USD to 63,000 USD with an additional living cost of AUD 20,700 over the tuition fees for international students.
Australia is one of the top study destinations for international students from all over the world. It is one of the top 5 study destinations for international students who want to pursue an MBA abroad. An MBA in Australia cost around 40,000 USD to 63,000 USD. International students are required to bear the living expenses of about AUD 20,700 in addition to the MBA fees in Australia.
Australia offers quality education, high-end research opportunities, and excellent career prospects that make it a favorite study destination for MBA aspirants. In addition to this, the favorable visa policies also attract a lot of international students to pursue their higher studies in Australia. The total cost of studying MBA in Australia varies for the different universities and is based on the location of the university.
Table of Contents
- Cost of MBA in Top Universities in Australia
- Cost of Pursuing MBA in Australia
- Why Study MBA in Australia?
- Admission Process for MBA in Australia
- Exams to Study MBA in Australia
- Course Duration
- Affordable Universities for MBA in Australia
- Top Scholarships in Australia for MBA
- Scope After MBA in Australia
Cost of MBA in Top Universities in Australia
One of the most important deciding factors while choosing an MBA university in Australia is the course curriculum and the cost of the program. Additionally, international students should also consider other fees such as living costs, course fees, accommodation costs, travel expenses, and more while calculating the MBA in Australia cost. Given below are some of the popular universities with their respective MBA fees in Australia for international students.
| University Name | Total Course Fee |
|---|---|
| University of Sydney Business School | $97,500 |
| University of New South Wales | $87,820 |
| University of Melbourne | $85,470 |
| University of New South Wales | $84,135 |
| Macquarie University | $80,000 |
| University of Western Australia | $73,500 |
| Curtin University | $71,200 |
| Monash University | $65,600 |
| University of Technology Sydney | $62,784 |
| University of Adelaide | $60,000 |
| QUT Business School | $57,600 |
| University of New South Wales | $56,520 |
| Bond University | $56,373 |
Cost of Pursuing MBA in Australia
The cost of studying an MBA in Australia can be determined by two major types of expenses. There will be pre-arrival costs and post-arrival costs for international students to pursue MBA in Australia. Let's take a look at each of these costs in more detail.
Pre-Arrival Costs
International students applying for an MBA in Australia are required to bear certain charges before coming to Australia which includes a registration fee of required test scores, application fee, student visa fee, etc. Some of the pre-arrival costs for international applicants to Australia are shown below:
|
Pre-Arrival Expenses |
Cost (in AUD) |
|
Application Fee |
$100 |
|
Australian Student Visa Fee |
$426 |
|
GMAT Fee |
$250 |
|
GRE Fee |
$205 |
|
TOEFL (iBT) Registration Fee |
$160-$250 |
|
IELTS Registration Fee |
$215-$240 |
Post-Arrival Costs
Tuition fees and living expenses are included as part of the post-arrival cost for pursuing an MBA program in Australia. In this section we will discuss each of these post-arrival costs in detail.
Tuition Fees for MBA in Australia
The MBA fees in Australia for Indian students come up to INR 45 lakhs. UWA and La Trobe Business School have the lowest fee and Melbourne Business School has the highest fee for MBA in Australia among top-ranking institutes for international students. The MBA in Australia cost in Indian rupees is shown below:
| University Name | Total Fees (in INR) |
|---|---|
| Melbourne Business School | 45.59 Lakhs |
| La Trobe Business School | 30.38 Lakhs |
| RMIT University School of Business | 43.53 Lakhs |
| Deakin Business School | 31.89 Lakhs |
| ANU College of Business & Economics | 36.58 Lakhs |
| UQ Business School | 41.16 Lakhs |
| UWA Business School | 30.41 Lakhs |
| Macquarie Graduate School of Management | 40.31 Lakhs |
| Monash Business School | 44.83 Lakhs |
| AGSM Business School | 44.01 Lakhs |
Living Costs in Australia for International Students
One of the important aspects of MBA in Australia cost are the living costs. International students planning to pursue an MBA program in Australia should bear the overall expenditure including hostel and meals, transportation, other course-related and personal expenses for the duration of the MBA course. On average, international students will need approximately $14,432 per year towards living expenses in Australia. The monthly living costs that are a part of the MBA fees in Australia for Indian students are given below:
- Rentals (On-Campus Accommodation): AUD 750
- Transportation Pass: AUD 100
- Basic Amenities: AUD 250
- Entertainment: AUD 200
- Groceries and Eating Out: $560- $1,120
- Phone and Internet: $60- $120
- Public Transport: $120- $240
Why Study MBA in Australia?
The following are some reasons why you should consider pursuing an MBA in Australia:
- According to the QS Global MBA Ranking 2021, five of Australia's business schools are ranked among the top 100 worldwide.
- MBA programs in Australia are accredited by some of the most reputable agencies worldwide, including EQUIS, AACSB, and AMBA.
- According to QS News, Australia is among the top five countries for MBA salaries in 2020.
- Based on the FT Business School Rankings (2021), three Australian business schools are among the top 100.
- Australia's universities are flexible, meaning that students can both work and study there in order to gain more experience.
- Several universities in Australia have a highly diverse student body, which makes it a desirable destination for Indian students to pursue an MBA.
- Obtaining permanent residency in Australia is easy for international students as it is one of the most immigration-friendly countries.
Admission Process for MBA in Australia
Applicants to business schools are evaluated based on grades in their bachelor’s degree, relevant work experience, and performance in interviews. Students can apply to Australian universities through:
- Direct Applications: Go to the university's website and click "apply now" on the course page
- Agents: To find an agent in your country, visit university websites. Obtain the necessary documentation and approach them. The agents guide you through the entire process.
MBA in Australia Application Deadlines
Students are advised to apply to universities well in advance so that they have sufficient time for completing the student visa process. Below are the deadlines for getting into top Australian universities for MBA programs:
|
University |
Deadline |
|
University of Melbourne |
30 Nov, 30 Jan 31 Mar, 31 May |
|
University Of New South Wales |
1 Aug, 1 Sep, 1 Oct 1 Nov, 1 Dec, 1 Feb |
|
Macquarie University |
8 Nov, 7 Mar, 23 May, 22 Aug |
|
University Of Western Australia |
5 Dec |
|
The University of Queensland |
30 Nov |
|
Australian National University |
22 Dec |
|
Deakin University |
20 Jan |
Eligibility Requirements to Study MBA in Australia
The admission requirements of individual universities may differ, but the general eligibility requirements for studying for an MBA in Australia remain largely the same. Following are the eligibility criteria and documents required for MBA in Australia:
- Bachelor's degree in any discipline from a recognized institution
- At least 65% marks in undergraduate degree
- Updated resume
- Minimum 2 letters of recommendation
- Interview
- A good GMAT/GRE score
- Experience in management or business of at least two years
- International students are required to prove their language proficiency by submitting IELTS scores to Australian universities, because the curriculum of Australian universities is entirely in English. Admission to the top MBA colleges in Australia requires an IELTS score of 6.5 to 7.0.
GMAT Requirements to Pursue MBA in Australia
Top Australian Business Schools require the following GMAT scores to be eligible for admission:
|
Business School |
Minimum GMAT Scores |
|
Melbourne Business School |
705 |
|
AGSM Business School |
650 |
|
UWA Business School |
650 |
|
UQ Business School |
550 |
|
ANU College of Business & Economics |
600 |
|
UTS Business School |
550 |
|
RMIT University School of Business |
550 |
MBA in Australia Work Experience Required
A majority of Austalian universities require work experience for enrolling students into their MBA programs. For the top business schools in Australia, the minimum work experience required is shown below:
|
Business School |
Minimum Work Experience Required |
|
Melbourne Business School |
2 years |
|
AGSM Business School |
2 years |
|
UWA Business School |
2 years |
|
UQ Business School |
4 years |
|
ANU College of Business & Economics |
5 years |
|
UTS Business School |
4 years |
|
RMIT University School of Business |
3 years |
Australian Student Visa Requirements
An Australian student visa is required for international applicants to enter the country. They will need to submit the following documents along with an online application fee of 620 AUD (35,000 INR):
- Valid passport
- ID Proof
- Acceptance letter from the university
- OSHC health insurance
- Evidence of sufficient funds (62,222 AUD per year)
- English language proficiency scores (TOEFL, IELTS etc.)
- Statement of Purpose
- 4 passport size photographs
- According to their current location, students might be required to undergo a health checkup and attend a visa interview.
Exams to Study MBA in Australia
To pursue an MBA in Australia, general exams required by international students include GMAT, GRE, IELTS, TOEFL, etc. The minimum scores required for admission may differ from one Australian university to another.
Students who do not meet IELTS or TOEFL requirements can take ELICOS (English Language Intensive Course for Overseas Students) courses instead. The courses are equivalent to English language courses in Australia.
ELICOS courses are open to students who require English language proficiency in order to attend a university or a vocational college, or who want to work in Australia. Students can choose from various ELICOS courses based on their needs.
Course Duration
MBA programmes usually last two years in most universities around the world. MBA programs in Australia are usually completed within 15 months to 2 years. In addition to this, many universities have started offering one-year MBA programs, for example, Melbourne Business School has launched a one-year MBA programme that is extremely popular among students. The following table shows the MBA course duration at different universities in Australia:
|
University |
Duration |
|
Melbourne Business School |
16 months |
|
Macquarie University |
1 year |
|
University of Tasmania |
1.7 years |
|
University of Canberra |
2 years |
|
Australian National University |
1.5 years |
|
Monash University |
2 years |
|
Bond University |
1 year |
|
University of Western Australia |
16 months |
|
University of Technology, Sydney |
2 years |
|
Central Queensland University |
1-2 years |
Affordable Universities for MBA in Australia
An MBA in Australia costs anywhere between 40,000 USD to 63,000 USD for a duration of 15 months to 2 years. The tuition fees are a big point of a differentiator in deciding the total cost of doing an MBA in Australia apart from the living costs. Listed below are some of the cheapest universities for MBA in Australia for international students:
- Kaplan Business School
- Holmes Institute
- Charles Darwin University
- Edith Cowan University
- Victoria University
- Central Queensland University
- IIBIT
- Federation University
- University of Southern Queensland
- Southern Cross University
Top Scholarships in Australia for MBA
MBA students can apply for a number of scholarships in Australia. A list of the best scholarships available at the top universities in Australia for MBA students is provided below:
|
Scholarship |
Business School |
Amount |
|
Kraft Heinz Scholarship |
Melbourne Business Schoool |
31,221 USD |
|
Monash MBA International Women in Leadership Scholarship |
Monash Business School |
16,679 USD |
|
MBA (Intensive) International Prestige Scholarships |
UWA Business School |
100% tuition fee |
|
Adelaide MBA Scholarship |
Adelaide Business School |
25% of tuition fee |
|
UOW Postgraduate Academic Excellence Scholarship |
Sydney Business School |
10% to 30% tuition fee |
|
MBA Student Scholarship |
UQ Business School |
25% of tuition fee |
|
MBA Scholarship for Outstanding Students |
UTS Business School |
1,390 USD to 3,475 USD |
Scope After MBA in Australia
A graduate of an MBA program from Australia has access to a variety of career opportunities since the degree is globally recognized. For MBA graduates in Australia, the highest paying industry is finance with an average salary of 97,100 USD. Consulting and technology are also popular career options for MBA graduates. You may consider the following job roles after completing your MBA in Australia:
|
Job Roles |
Average Annual Salary (USD) |
|
Business Development Manager |
111,000 |
|
General Manager |
108,000 |
|
Assistant BD Manager |
95,400 |
|
Manager |
122,000 |
|
Accounting Manager |
135,000 |
|
Financial Manager |
135,000 |
|
Project Manager |
89,000 |
|
Employee Relations Manager |
80,000 |
|
Organizational Development Manager |
93,000 |
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