Masters in Management in Australia

Pursuing a Master’s in Management (MiM) in Australia is a prudent choice, considering that the country offers excellent prospects and lucrative starting salaries. MiM is a one to two-year course that offers extensive learning with respect to diverse streams such as entrepreneurship, finance, consulting, marketing, and more. You can expect to shell out between $35,000 and $80,000. Upon completion of the course, you can work in MNCs like Randstad, KPMG, Accenture, Gartner, and more. 

So, if you want to know more about the MiM course in Australia, then this article has got you covered. 

Why Study Master’s in Management in Australia? 

Studying at the best universities in Australia for a Master’s in Management is always a good move, considering the following reasons: 

• Australia is one of the foremost global management education destinations, offering the world’s highest-ranked institutions, premier courses, and diverse specializations. 
• MiM courses in Australia do not require any specific qualification or work experience. Students get a chance to explore this discipline even with one year of work experience (if required by the university).
• Australian universities offer excellent industry interfaces, mentorship, and practical learning opportunities. 
• The average Master’s in Management salary in Australia is handsome, especially due to the country’s booming economy and rising demand for skilled management graduates in various fields. 

Highlights: Masters in Management in Australia

Leading Universities for MiM in Australia

You can always pursue cutting-edge master’s courses with platforms like upGrad Abroad for higher cost savings and end-to-end support. Here are some of the leading institutions for MiM in the country: 

Source: University’s Official Website 

 MiM in Australia: Course Curriculum

The course curriculum would differ based on the university. However, you can expect to study subjects such as:

Foundation 

• Business Analysis And Decision Making
• Managing For Value Creation
• Management Competencies
• Fundamentals Of Finance

Core 

• Managerial Decision Analytics
• Managing Behaviour In Organisations
• Project Management
• Marketing Management
• People And Change
• Human Resource Fundamentals
• Entrepreneurial Practice

Eligibility Criteria for MiM in Australia 

The eligibility criteria for MiM courses in Australia varies based on the university. However, you would need to fulfill these requirements: 

• Academic Qualifications
• Work Experience
• English Language Proficiency Test Scores
• Passport and Visa
• Standardized Tests

Admission Requirements for MiM Course in Australia 

You must meet the following requirements to secure admission in the course: 

• Bachelor’s degree in any subject
• Interview/other formalities
• IELTS/TOEFL/PTE scores
• GRE(326)/GMAT(680) scores
• Work Experience: You should have at least two years or less of work experience

Necessary Documents

• Academic transcripts and mark sheets
• Scores of standardized examinations like GMAT, GRE, IELTS, and TOEFL. 
• Recent Resume
• Personal Statement (SOP)
• Student Health Insurance Proof
• Proof of Fund
• Valid Passport

Admission Process 

To seek admission to a top Australian university, you need to follow the below-given steps: 

• Select the college or university you desire to pursue the MiM course from and visit the university’s official website. 
• You should first check for the deadlines and cost of attendance (tuition fees and cost of living). 
• Gather all the desired documents and apply on the official college website. 
• Create your account to begin the process. 
• Then, you would need to upload the desirable documents on the website.
• Upload copies of the indispensable documents required (mark sheets, GMAT/GRE scorecards/ Standard Proficiency Test).
• Once you complete this, you will be intimated about your interview.
• If you clear the same, you will be given a contingent contract letter. 
• Now, you would need to pay the course fees. 

Application Deadlines 

Here are the application timelines for MiM courses in Australia: 

Source: University Official Website 

Visa Procedure

The student visa subclass 500 allows staying in Australia for the study program tenure. Before applying, ensure you are enrolled in the course while holding the OSHC (overseas student health cover). 

Here are the required documents: 

• Enrollment proof
• Work experience and academic documents
• Visa application fee payment receipt
• A valid passport 
• Proof of funds
• English language proficiency score sheet
• GTE (Genuine Temporary Entrant) statement
• Health insurance policy information
• Photographs (passport-size)
• SOP (Statement of Purpose)

Cost of MS in Management in Australia

The average tuition fees range between $30,000 and $80,000 for MiM aspirants. It hovers based on the type of university you select—Public or Private. Apart from this you would need to manage your weekly expenses (excluding accommodation) roughly $900. 

Available Scholarships

If the cost of attendance for pursuing a MiM in Australia has got you thinking about looking for lesser reputed opportunities, then wait! Some top scholarships available for international students will keep your financial worries at bay. 

Source: University’s Official Website 

Most of them are time-sensitive with deadlines in place. Therefore, consider these timely before you plan your MiM from Australia. 

Are you still not sure how studying in Australia can be a game-changer for you? Reach out to our study-abroad experts for comprehensive advice. 

Job Prospects After Studying MiM in Australia 

MiM broadens the overall career scope of aspirants with good salaries and employment security. MiM graduates annually on an average earn $81,000 in Australia, per Payscale. Job roles include product manager, general manager, business development manager, operations manager, executive manager, project manager, capital and risk manager, management consultant, etc. You can explore the following questions after completing a MiM course in Australia. 

Job Roles & Average Salary for MiM Graduates 

Source: Indeed

Some of Australia's biggest recruiters of management graduates include Rio Tinto, Tesla, Clayton UTZ, PwC, Westpac, Accenture, Wesfarmers, BHP Billiton, GE Capital, and more.

Why a Master’s in Management Over MBA Courses?

Those looking to earn business management degrees usually apply at leading MBA universities and colleges. Many students find the admission criteria and program costs hard to manage, so they look for easier alternatives like a master's in management or MiM, a globally valued degree that provides a cost-effective option than MBA and does not have stringent work experience requirements. Moreover, a two-year MBA would require you to take up an internship experience. 

In a nutshell, the country provides a plethora of opportunities to international students. The program will help you to secure your desired job. So, if you are still not sure how to manage the admission process, our experts can make it easier for you.  

Disclaimer! All course fees and salaries are approximate amounts subject to change depending on various conditions. All the figures mentioned are in Australian dollars.

Frequently Asked Questions

Q1. Is Australia good for management students?

A. Australia is one of the world’s best educational hubs for management aspirants. It is one of the most coveted study hubs offering great research and learning opportunities in tandem with an innovative and flexible curriculum and great future job prospects at leading companies.

Q2.  Can I do MIM without GMAT?

GMAT scores are essential for admission into several MiM (master’s in management) courses in Australia. Some institutions, like the ANU or Australian National University, do not need GRE/GMAT scores for admissions.

Q3. Which university in Australia is best for a master’s in management?

A. Some of the top universities for master’s in management in Australia include the following:

• Melbourne Business School
• Monash University
• Queensland University of Technology
• The University of Sydney
• The University of South Australia

Q4. Is Australia good for management studies?

Australia is a great destination for management studies, offering the world’s highest-ranked institutions, comparatively reasonable tuition costs, and wonderful prospects as managers employed with leading global companies. Starting salaries for management graduates are highly attractive in Australia, while diverse specializations cover almost everything from finance and business administration to business analytics.

Q5. How much does it cost to do a Master’s in Management in Australia?

You can expect to spend between $30,000 and $80,000 in terms of tuition fees for the entire course. Apart from the tuition fee, you can expect to spend around $1,200 (monthly) as a part of your living expenses. However, it is subject to vary based on your location and preference. 

Q6. Will I get a job after master’s in Australia?

After completing their studies, students can apply for a work permit (485), also known as a skilled graduate temporary visa, which allows them to work for between 18 months and 3 years. 

Q7. Is Australia better than the USA for masters?

The average cost of a master's in Australia hovers between $20,000 and $37,000 annually, whereas studying in the USA will cost you $30,246 - $68,053. This highlights affordable tuition fees for international students. Looking at the QS Best Student Cities Ranking 2023, the Australian city – Melbourne (#5) ranks higher than any other student city, which makes Australia a better option. Apart from this, Australian suburban areas are present as an affordable option for international students. 

Q8. Which university is the best for a Master in Management in Australia?

Some of the top Australian universities for the course include institutes such as Monash University, Australian National University, The University of Melbourne, The University of Sydney, La Trobe University, Melbourne, Macquarie University, Victoria University, the University of Technology Sydney, and the University of Wollongong. 

Q9. Are IELTS scores required for applying for a Master in Management in Australia?

In general, you must have an IELTS score of at least 6.5 overall, with no band lower than 6.0 for your postgraduate degree, in order to study in Australia.

Q10. What is the average salary of MIM graduates in Australia?

The annual average salary of a MiM graduate is $81k, per Payscale. On average, a master of management graduate across various fields can earn as follows: marketing coordinator ($57,064), Project Manager ($91,121), Human Resources (HR) Manager ($93,508), Operations Manager ($88,316). 

Q11. Can we work in Australia post-study?

Now, international students can leverage post-study work rights in the country. Students pursuing a bachelor's can stay back for four years, three to five years after completing a master's degree, and four to six years for all PhDs.