They say changes are always temporary but alterations in policies are permanent. The strict immigrant policies of the USA and Brexit have imposed many restrictions to pursue an education in the two locations. On the contrary, this decrease has resulted in the rise of students heading towards other countries for education. Among them, the most prominent and top of the chart is being Australia.
If you’re looking for a balances education then Australia provides you all, that too, in the budget. Also, its economy is also one of the most consistent, and its education system is considered to bet at par. Out of the entire course available in Australia, the MBA is the most popular choice among them. The MBA program of Australia features in the top 100 list of MBA Ranking by Financial Times.
Whether it’s the cost of studying or living and miscellaneous expenses, they are affordable when we compare to countries like the US or UK. Various scholarship options are also available for international students in Australia which is a popular study destination.
Below comes a full catalog of how an Indian student can pursue an MBA in Australia. From tuition fees to jobs available after graduation, this blog covers all in one.
MBA tuition fees in Australian Universities
One of the most deciding factors while studying in any university is its tuition fees and the course curriculum. Before taking admission to many universities, always compare its tuition fees with different universities and go for the one that is reasonable. Therefore, always consider various factors that contribute to the cost like course fees, accommodation, travel expenses, and research for the project work.
The average MBA fees in Australia rose 7.82% in 2020, compared to 2019, with the average MBA costing more than INR 58 Lakh. According to mbanews, there are more than 110 MBA courses across the country. From Melbourne University’s Senior Executive MBA at INR 94 Lakh to the Australian Graduate School of Management at the University of New South Wales Business School at INR 50 Lakh. The University of Sydney Executive MBA costs INR 77 Lakh, the University of Queensland at INR 55 Lakh, and Monash University’s MBA costs up to INR 65 Lakh. Although every university has its own fee structure, these were the average fee of the top five schools of business in Australia.
Top 10 Colleges in Australia
- Melbourne Business School, the University of Melbourne
- Australian Graduate School of Management at the University of New South Wales Business School
- Monash Business School, Monash University
- UQ Business School, University of Queensland.
- Macquarie Graduate School of Management, Macquarie University
- UWA Business School, University of Western Australia
- College of Business and Economics, Australian National University ANU
- Deakin Business School
- Sydney Business School, University of Wollongong.
- Graduate School of Business and Law, RMIT University.
Scholarships for MBA Australia
Australian universities are the tough ones on the planet. And when comes to international students, then you need to pull up your socks as one needs a large amount of money in the bank. MBA as far as it considered it is the most costly seminars that one can afford. There are multitudes of scholarship over the world for pursuing MBA in Australia especially for Indian students. Some of the best colleges in Australia have started many MBA grants that are intended to draw the best from all over the world. Here is a portion of the main MBA grants in Australia that are offered by best-positioned colleges.
1. ANU College of Business and Economics International Graduate Scholarship:
This grant cut downs your half educational cost charge in ANU College of Business and Economics. They offer 10 grants, each for Latin America, Europe, Asia, South East Asia, and Eurasia, while the other five are open to worldwide.
2. MBA (Global) Scholarship:
Offered by Curtin University for both local and international students. The most extreme number of grants offered is two to a student.
3. Curtin Humanitarian Fund (International Students):
Given in the fields of Science-Engineering, Health Sciences, Humanities’, and Management.
4. BHP Billiton MBA Full Time Scholarship:
Offered by the University of Western Australia, with stipend coming up to INR 50 Lakh.
5. UWA Business School MBA Full Time Dean’s Scholarship:
Offered by the University of Western Australia to international students with exceptionally scholarly qualifications.
6. Deakin India 10 percent Bursary:
For MBA, Sports Management, and International Finance & Commerce Students. They are automatically considered for this scholarship while they apply for admission to different courses.
7. Macquarie University Tuition Fee Grants for Indian Students-MBA:
The candidate must have three years of work experience to become eligible for this scholarship.
Eligibility Criteria
Some of the Basic Requirements for getting admission to the top Australian universities or schools are:
- Bachelor’s Degree – Candidates must have been completed a bachelor’s degree in any field from any university.
- IELTS –One should secure a good IELTS score for getting the Australian Visa. Students from non-native English speaking countries need to show their English proficiency score for admission and visa.
- Work Experience -Although it is not mandatory having work experience of at least two-three years proves to be advantageous for students.
- GMAT – Some Australian universities and colleges accept GMAT scores for admission to pursue the MBA program. A good score is required to get admitted to the top university to pursue an MBA.
Apart from this, Australian University wants that candidate should have scored good academics score in high school and bachelor’s program. Though eligibility requirements vary from university to university, these are some basic requirements that every university demand form his/her candidates. Universities can be classified into three main categories depending on their admission requirements.
- Category 1: Universities require students to have a good – GMAT score, significant work experience, and IELTS score.
- Category 2: Universities require students to either have a good GMAT score or work experience and IELTS score.
- Category 3: Universities grant admission only on the basis of student’s academic scores and IELTS scores.
Course Duration
Most universities conduct MBA programs for 2 years. The average time period in most universities is for 15 months to 2 years. Apart from this, a lot of universities have started offering one-year MBA programs like Melbourne Business School which is highly popular among students.
The process to pursue an MBA with and without any working experience
Working Experiences – Most Australian business schools demand at least a few years of practical understanding of work.
AMBA-Accredited MBA Programs – All AMBA certified MBA programs require at least three years of all-day work experience.
Without any Working Experiences
Some universities grant admission of international students with lesser work or completely no work experience into their MBA programs. As some Australian colleges offer two categories of the MBA program – the ‘Executive MBA’ for those who have critical work involvement and a non-Executive MBA for different students who don’t possess any experience.
The confirmation necessities change from college to college. A few colleges will think about a mix of all these components. For example, if your Bachelor’s score is not very well then it can be offset by a decent GMAT score. Or you don’t have a good GMAT score but the very good working experience of at least 4-5 years then also you’re selected. So, your confirmation necessities change from college to college and their qualifications.
Most confirmations officers will investigate while over-viewing your application and will consider such components – your additional curricular exercises, your mission statement, your English dialect test scores (IELTS/TOEFL scores), your LoR to give some examples. Ensure you put in a great effort and exertion into your application forms.
Jobs after MBA
Australian Universities are known for their standards and high academic skills all over the world. In addition to the fact that they are recognized crosswise and by the best of industry, in addition, your MBA scorecard issued from any of these universities can turn your life upside down. Let’s start with basics remuneration one earn from MBA Jobs in Australia remains at INR 99 Lakhs, with attractive extra conditions tossed in.
Australia is extraordinary compared to other nations for the MBA program. Top colleges of Australia offers MBA projects, for example, Melbourne business schools and AGSM are noteworthy positioning colleges and are recognized crosswise over nations by the best of industry.
Living cost for students in Australia
Apart from the tuition fee for the course, there are also other requirements that one needs to fulfill. The overall expenditure including hostel and meals, transportation, other course-related and personal expenses and health will cost approximately INR 12 Lakh. (Figures can differ based on the lifestyle of an individual and place of living)
Conclusion
Australia is a modern and metropolitan country with diversity in its culture which attracts more and more international students to study here. Many students prefer to study here as they get cultural diversity, friendly natives, and high quality of education and moreover there are no language barriers as it is an English speaking country. The quality of life, sunshine, and months spent in beach weather, it’s easy to see why Australia remains a favored destination in the world.
