The increasing number of queries on MBA fees in Australia stands as a testament to the popularity of the country as a management education destination for Indian and other international students alike. Australia has close links with major South-East Asian markets along with top-notch recruiters and a wide range of reputed business schools as well. Thousands of international students pursue management education every year in Australia. The country’s natural beauty, huge coastline, excellent infrastructure, contemporary cities and welcoming approach towards visitors are major plus points that contribute towards it being a great place to study and work.
The MBA in Australia cost is not discouraging for students and the country has some of the world’s most livable cities with lucrative business opportunities. Students can also take up part-time work alongside their courses to cover living costs.
Owing to its highly strategic location and placement, Australia represents a true amalgamation of eastern and western cultures. You will find cutting-edge management courses that focus on doing business successfully in the Asia-Pacific region. To cite an instance, Perth lies in the same time zone as Hong Kong and Singapore, making it a prime meeting point for all these regions as far as doing business is concerned. MBA courses taught in the country enable a deeper understanding of business environments and key markets in the Asia-Pacific. As per several studies and reports, Australia is number five on the list of the most lucrative global locations for MBA graduates earning salaries after completing their courses. Employees with MBAs may expect to earn a handsome base salary of US$98,400 and average bonuses may stand at around US$17,800. Graduates may look forward to compensation packages hovering around US$116,200. This will naturally make up for the initial MBA in Australia cost incurred by students.
MBA fees in Australia may vary from one educational institution to another. MBA in Australia is offered by 50-60 leading institutions. The average MBA fees in Australia for international students will be around USD$40,000-63,000. Yet, expenses may be reduced if you can prove your eligibility for a scholarship for studying in Australia. Approximately, the MBA in Australia costs in Indian rupees will be INR 45 lakh. There are several government scholarships which may reduce your tuition fees to zero, making Australian higher education more cost-effective.
With regard to MBA fees in Australia, here is a list of institutions offering these programs, their affiliated or parent universities and full-time fees for students. This will help you decide on where to apply:
Institution
Parent University
Full-Time MBA Fees
Melbourne Business School
University of Melbourne
$62,198
AGSM Business School
University of New South Wales
$60,043
Monash Business School
Monash University
$61,156
Macquarie Graduate School of Management
Macquarie University
$54,993
UWA Business School
University of Western Australia
$41,488
UQ Business School
University of Queensland
$56,157
ANU College of Business & Economics
Australian National University
$49,911
Deakin Business School
Deakin University
$43,514
RMIT University School of Business
RMIT University
$59,393
La Trobe Business School
La Trobe University
$41,451
It is not just about taking into account the MBA in Australia fees for Indian students. You should work out the average cost of an MBA in Australia only after including living, food, accommodation, transportation, related educational costs, and other expenditure.
You should also know that a minimum of 55-65% is required at the bachelor’s level and the IELTS score should be meeting the institution’s criteria. A few years, mostly two-three years of past employment experience is often a primary requisite for obtaining admission into an MBA program at a leading Australian business school. Some institutions like Monash University, LaTrobe University, Deakin University and Macquarie University take students into their courses without requiring GMAT scores. With the growing demand for professionals at managerial levels, graduates completing MBAs from Australia may expect average packages of roughly USD$98,400 or approximately INR 72.2 lakh. The accounting and finance sector often pays the highest to MBA graduates and the average annual pay for their stands at around USD$61,229.
As you can see, pursuing an MBA course in Australia will be highly rewarding in terms of the unmatched academic experience, deep understanding of the entire Asia-Pacific region, lucrative future salaries and the vast lineup of globally acclaimed management universities and institutions. The costs are not prohibitive, and students may take up part-time work alongside their courses for lowering the financial burden. At the same time, Australia offers some of the world’s most beautiful and livable cities in tandem with nature-friendly lifestyles, plenty of leisurely activities, a welcoming ambience and more.
According to a 2021 survey, the average program cost of an MBA in Australia is around 59,966 AUD or INR 32,31,167. Moreover, there has been a 3.34% increase in fees this year compared to last year. The average annual cost Indian students have to bear to pursue an MBA will range from 45,000 AUD (INR 24,24,402) to 82,000 AUD (INR 44,47,200). The annual fees for the MBA program will vary greatly depending on the university you choose. Although the costs seem exorbitant, you can afford them by availing of the various scholarships offered by the Australian government. The fees of a program are directly connected to the duration, specialisation, and university that you select. You should get these insights early and pre-plan them. To have a hassle-free experience, you must understand the fee structure well beforehand. The average annual fees for the MBA program in some of Australia’s best universities are listed below:
● Victoria University- $46,800
● Swinburne University of Technology- $36,204
● University of South Australia- $60,450
● University of Sunshine Coast- $39,905
● University of Tasmania- $68,347
● University of Southern Queensland- $42,600
● University of Newcastle- $36,545
● University of New South Wales- $59,760
● University of New England (UNE)- $28,000
● Torrens University- $36,900
But keeping aside the costs you incur once you reach Australia, there are also certain pre-departure costs you need to consider. The first is the registration fees that you need to pay when you apply to your favourite university. Usually, the registration fees vary from one university to another depending on the popularity and renowned status of the institution. Additionally, you may also be required to pay for proficiency tests and Visa.
Low-Cost MBA in Australia for International Students
As a study abroad destination, Australia offers many great opportunities for international students. The country’s educational system assures students of the best quality programs, making it a great favourite amongst students from across the globe. Like several countries, some courses are better than others when it comes to popularity and expertise. Many courses that demand this kind of attention when it comes to Australia, and one of the top five postgraduate courses in terms of worldwide recognition, popularity amongst domestic and international students, and industry acceptance is MBA. Australia MBA fees vary from one college to another, and you should research well before applying for different institutions.
But, when it comes to choosing the right colleges, budget is often a restriction that cannot be ignored. While the cost of living in Australia is comparable to that in the USA, you should try choosing an affordable university to decrease your MBA in Australia cost. Listed below are twelve of Australia’s most affordable MBA colleges, which will allow you to get quality education and experience without costing a fortune.
The average annual cost Indian students have to bear to pursue an MBA will range from 45,000 AUD (INR 24,24,402) to 82,000 AUD (INR 44,47,200) including tuition fee and living expenses.
What are the best MBA Colleges/courses in Australia?
The best MBA programs in Australia are offered by the following colleges-
University of Melbourne: Melbourne Business School- Course duration of 1-2 years.
University of New South Wales: Australian Graduate School of Management (AGSM)- Course duration of 16 months.
Monash University: Monash Business School- Course duration of 2 years.
University of Queensland Business School- Course duration of 1 year.
MGSM Macquarie Graduate School of Management- Course duration of 2 years.
Can I get a job in Australia after MBA?
Australia has a strong job market for MBA professionals. The usual salary after completing an MBA program in Australia is approximately AUD 82,000. In Australia, MBA graduates have a good chance of obtaining a two-year work permit, all thanks to employment opportunities with globally-reputed corporations.
How can you get a scholarship for an MBA in Australia?
Australia offers plenty of scholarships for meritorious students such as the Kraft Heinz Scholarship, AGSM Global Reach Scholarship and AGSM Excellence Scholarship, Monash MBA International Women in Leadership Scholarship, MBS Scholarships, etc.
The general criteria for these MBA scholarships are usually-
Bachelor’s degree in any subject from a recognized university (although some MBA colleges demand degrees related to business).
A minimum score of 65% in their bachelor’s course.
Applicants must submit an up-to-date resume, two reference letters from past professors/employers, and GMAT/ GRE scores.
A minimum of 2 years’ experience is a must.
IELTS scores as proof of their proficiency in English.
How much does it cost to study MBA in Australia for Indian students?
For an Indian student pursuing MBA in Australia the average cost will be AUD 67,647 or INR 36,66,425.66. The cost will be higher or lower depending on the institute you study at and the course duration.
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