Masters in International Business in Australia: Your Guide

masters in international business in australia

International business is primarily a study about different countries taking part in overseas trade and other things that concern the trading process. The future of a country’s financial health and overall economy highly depends on how the businesses are going with other countries. Studying Masters in International business in Australia can be a life-changing decision for an interested student. No one can deny that it has always been one of the most successful career choices for the past 4 to 5 decades.

Why mustn’t you lose the chance to study international business in Australia?

Undoubtedly, Australia has become a higher education hotspot for international students for its top-rated universities. From various courses to job opportunities, Australia provides students with one of the most student and youth-friendly environments. Studying Masters in International business in Australia can expose you to greater career opportunities even outside Australia. Learn what exactly Australia and its internationally recognized universities have for you to offer:

  • Internationally acclaimed universities with brilliant rankings
  • Affordable cost of pursuing masters in international business
  • Well-designed course structure
  • Can get job offers from both in and outside the country
  • Can join research courses after finishing masters in international business
  • Supporting, and skilled faculties to guide you
  • The internship offers from well-known enterprises
  • Plenty of scholarships
  • Availability of the course in English
  • A competitive but comfortable environment to study

Equivalent courses you should know about

  • Master of ManagementĀ 
  • Master of Business Administration
  • Master of Foreign Trade
  • Master of Finance Management
  • Master of Human Resource Development

Top destinations in Australia for the students of international business

Securing a seat at a top university in Australia is no more a dreamlike phenomenon. Almost every university in Australia welcomes students from overseas. If you are intending to study masters in international business in Australia, you should do detailed research for choosing a university that meets all your needs. The below information about various Australian Universities and their QS ranking might help you to make an informed decision.

Popular Universities

QS ranking (2022) Course offered Course duration Estimated fees
University of Melbourne 37 MS in international business 2 years

A$46,752 (24,94,175.80 INR) per year

Monash University

58 MS in international business 1, 1.5 and 2 years AUD $48100 (25,66,090.34 INR) per year
University of Sydney 38 MS in international business 1.15 years

AUD $73130 (39,01,417.61 INR) per year

Deakin University

283 Masters of business administration (international) 1, 1.5 and 2 years Depends upon course duration
RMIT University 206 MS in international business 1.5-2 years

AUD $42240 (22,53,464.78 INR) per year

Australian National university

27 Master of international management 2 years AUD $63184 (33,69,227.40 INR) per year
University of Queensland 47 Master of business 1.5 and 2 years

AUD $43200 (23,04,679.89INR) per year

Estimated expenses of studying MS in international business in Australia

The overall expenses to study in Australia include tuition fees, accommodation, health cover, transportation, groceries, etc. To study Masters in international business in Australia, you have to pay nearly up to 75000 AUD as tuition fees. Though the tuition fees vary in different universities, it ranges between 40000 (21,33,962.86 INR) to 75000 (40,01,180.37 INR) AUD.

Australian people maintain a very high standard of living. So, the expenses may seem to be a little higher. Accommodation costs usually depend on where you are staying. It can be around 90 – 300 (4811.46 – 16,038 INR) AUD per week.

Then there are pre-arrival costs like flight ticket expenditure, application fees, expenses for visas, and health covers.

Scholarship programs of the Australian government and universities can help decrease the total expenses while studying in Australia. University scholarships generally pay a certain percentage of the total tuition fees. Some Government scholarship programs even pay for the living expenses, covering entire course fees.

Skills & Fields

Only studying would not bring you the best opportunities to strengthen your career. You must have some skills required to be an expert in this field.Ā 

  • Communication skill
  • PatienceĀ 
  • Risk-takingĀ 
  • Knowledge of technology
  • Work under pressure
  • Multiple language skills

The course international business has the word international within its name. The subject is spread across fields, and this is one of the popular reasons that make international business a renowned subject among students.Ā 

  • World economy
  • International trade
  • Import/export sectors
  • Management
  • Sales & advertisement
  • Market analysis

Masters of International business in Australia: Student Admission Process

Eligibility: Bachelor’s degree in relevant subject

Language essentials: Students must be fluent in speaking English and have a good score in any of the English language proficiency tests.

Documents required: Visa, completed application form, personal declaration, GMAT score card

Deadlines of applications: Course starts in February and July

Course durability: 1-2 years

Eligibility criteria and documents required might vary. But almost every university asks for a GMAT score to get you admitted. Some universities accept undergraduates from other fields too. You should always check the facts by visiting the official websites and carry-out in-depth research.

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Job Prospects after Masters in international business in Australia (with salary)Ā 

International business is a course that can bring you career opportunities from all over the world. The more skilled, the more experienced you are, the higher salary you can expect, especially when you do a Masterā€™s in international business in Australia. Though there is high competition in this field, you are more likely to get jobs after masters in international business in Australia if you opt to pursue your master’s in a top university in Australia.

The salary of people worldwide working in an International Business job profile varies from place to place. Here is a list of trending career paths

  • Budget analyst
  • Marketing analyst
  • Financial management
  • Human resource development
  • Marketing management
  • Interpreter/translator
  • Import/Export agent
  • Foreign sales representative
  • Multinational manager
  • Foreign currency investment advisor
  • Business development director
  • International management consultant

Top careers

Approx. Salary in AUD
International Financial Management

186,906

Financial Analyst

116,534
International Marketing Manager

198,035

Translator / Interpreter

72893

It also has scope for many government jobs in various fields. These are some fields you can choose from:

  • Embassy
  • Health care
  • Aerospace industry
  • Education sector
  • Trade management sector

You have to apply for a visa as soon as you decide to study master’s in Australia. Go to the Australian Embassy in your country. They will inform you all about the process and the documents you need. International students mostly choose student visas (subclass 500) which grant more facilities to the international students like you can stay there for 5 years during your course. But you need to fulfill all the criteria to be eligible to get your visa.

Students visa eligibility

  • There is no maximum age specified to get a student visa in Australia
  • Your English-speaking ability must be up to the mark
  • You need to fulfill health requirements
  • You must have enough money to reside there
  • You need to show proof that you have joined a full-time course in a registered institute

Documents you need to submit to apply for a visa

  • Passport or Birth CertificateĀ 
  • Proof of proficiency in English
  • Evidence of full financial support

You must have health insurance to get a visa to stay in Australia so that in an emergency, expenses for your treatment can be covered without any hassles.

Is there any scholarship program available in Australia?

Most Australian universities are popular among international students for their quality education structure, unique courses, and excellent teaching faculties. Besides the studentsā€™ desire to study there, the universities themselves promote their courses providing more than 100 scholarship programs per year. Australian universities offer enormous scholarship programs for different courses at different levels. Suppose you are interested in studying for a Masterā€™s in International business in Australia. In that case, you must choose a suitable scholarship as it can help you cover your entire tuition fees or at least cover 50 to 70 percent of your expenses.

The government of Australia provides some of the most popular scholarship opportunities to international students. They sometimes cover more than the total course fees. But a thing you must keep in mind is that you have to score a certain percentage to be eligible for these scholarships. However, some universities have a few programs that provide international students with some scholarship benefits.

Scholarship programs

Provider Amount
International Tuition Fee Bursary RMIT University

10% of the tuition fees

International Postgraduate Research Scholarships (IPRS)

Government of Australia Tuition fees+ health cover
Australia Awards Scholarships Government of Australia

Total tuition fees+ establishment allowance+ living expenses+ return air travel+ health cover

Emergency Postgraduation emergency Bursary

Australian National University Variable
Destination Australia Scholarships Government of Australia

15000 USD (11,13,933.00 INR)

Vice Chancellorā€™s international scholarship scheme

University of Sydney Up to $40,000
Sydney International Student Award University of Sydney (For students from specific countries)

20% of the tuition fee

Ā 

There are many other scholarship programs for domestic and international students with different rewards. Go through all the scholarship-related details on the university’s official website in order to fulfill your dream of your pocket friendly overseas education

Disclaimer: All course fees and salaries are approximate amounts subject to change depending on various conditions.

FAQs

Q1. How is the future of masters in international business in Australia?

A. The future of postgraduate students of international business in Australia looks promising owing to the demand in the subject. Despite having tough competition in this industry, students are willing to choose this career as it pays well. Experts think there will be a considerable increase in demand for this discipline within the next ten years, and related industries will consequently grow.

Q2. Can a Bachelor of science study MS in international business in Australian universities?

A. Eligibility criteria can differ for the universities. For example, undergraduates in management studies, business administration, finance, and economics are widely considered eligible to pursue a master’s degree in international business. But some universities like the University of Melbourne also grant those students to study the course who belong to other undergraduate programs. The motive behind this is to encourage and support those students who want to change subjects to learn about commerce.

Q3. Is Masters in International Business from the University of Melbourne worth it?

A. Masters in international business from the University of Melbourne can be a crucial step to having a golden future ahead. The University of Melbourne offers a full-time course of 2 years to study MS in international business and charges around 47000 AUD per year.

Q4. What are the job prospects after Masters in International Business in Australia?

A. Most of the job prospects come with competition. You cannot expect to instantly get a job after completing your Masters in International Business in Australia. You must achieve good grades and basic skills to get a satisfying job in Australia. However, the chances of getting jobs in both the private and public sectors in international business are relatively high with post-graduation done in Australia.

Q5. What are some highest paid salaries in international business in Australia?

A. International Financial Management, Financial Analyst, International Marketing Manager, Translator / Interpreter are the posts that have probably the highest salaries in international business. An estimated report says they make up to $150000 per year. The salaries are likely to increase alongside the experience.

Q6. Is there any scholarship program for international students?

A. There is a profound number of scholarships for both domestic and international students in Australia. All the universities have more than 100 scholarship programs for various courses at various levels. Students studying Masters in International business in Australia have enormous options to choose from government or university-sponsored scholarships. Some government scholarship programs in Australia guarantee to cover 100% of tuition fees.

Q7. How much does it cost to study MS in International Business in Australia?

A. The cost of studying for a master’s in international business in Australia ranges between 40000 AUD to 60000 AUD, excluding other costs like accommodation expenses, health insurance premiums, transportation costs, etc.

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