Cost of MBA in Australia For Indian Students

Last Updated on August 28, 2024

Australia, a top destination for education, particularly for international students pursuing an MBA, offers a degree that is highly valued and recognized globally. This recognition gives Indian students a competitive edge and opens up a vast global network for them. The fees for the same could range from 20-30L INR. 

Why Study in Australia?

India is the second highest contributor of international students after China, with approximately 9.8 % in Australia. The Australian economy has a high demand for MBA graduates, with 91% of students securing jobs within four months of graduation, offering a great return on investment. Earning an Australian MBA leads to solid employment prospects with full-time jobs and an average starting salary of AUD 95,000. 

Best MBA Universities in Australia

What else draws students to pursue an MBA in Australia? Its high-quality education, innumerable research opportunities, and excellent career opportunities make it a hotspot for MBA aspirants. Additionally, most of the universities are internationally recognised and offer courses in English, which is again favourable to students worldwide. The intakes are mainly in February and July. The following table reflects the top universities, their location, fees, and duration of the course.

University	Location	Duration	Tuition Fees (per year)
University of Melbourne	Melbourne	Two years	27 L
University of Sydney	Sydney	1.6 years	29 L
University of New South Wales	Sydney	One year	32 L
Australian National University	Canberra	1.6 years	26 L
Monash University	Melbourne	Two years	27 L
University of Queensland	Brisbane	One year	46 L
University of Western Australia	Perth	1.4 years	26 L
University of Adelaide	Adelaide	Two years	27 L
Macquarie University	Sydney	Two years	12 L
RMIT university	Brisbane	1.5 years	26 L
University of Wollongong	Wollongong	1.5 years	33 L
Curtin University	Perth	1.4 years	22 L
La Trobe University	Melbourne	One year	32 L
University of South Australia	Adelaide	1.5 years	23 L

Full-time programs typically range from 12- 24 months, whereas part-time ones can take longer, around 2-3 years. Students with valid visas can work 20 hours per fortnight during their course and full-time during semester breaks. Universities also have part-time opportunities, and other employment opportunities can be found on LinkedIn or Indeed platforms. 

Eligibility Criteria

The eligibility requirements for the program vary depending on the university to which you are applying. However, the minimum eligibility criteria are as follows-

• Academic Requirement- 3 or 4-year bachelor’s degree with a minimum score of 60%
• GMAT score – 600+
• IELTS/PTE score- 6.5-7/ 65-75
• TOEFL score- 95-102
• Resume/CV
• Work experience- 1-5  years
• Additional documents- 2 LORs, Statement of Purpose, Transcripts 

Kindly note that some Australian universities offer admission to MBA programs without GMAT scores or work experience. Some Australian universities that do not require GMAT scores are Monash, Macquarie, Deakin and Griffith University. After you apply and submit all the above documents and receive offer from the university, you can apply for an Australian student visa to study in the country.

Breakdown of Additional Expenses

The cost of MBA in Australia, apart from the tuition fees at college, is listed below-

Pre-Arrival Costs

• Application fee – 110 AUD. 
• Australian Student Visa- 650 AUD
• IELTS/PTE- 250 AUD
• TOEFL- 255 AUD
• GMAT- 250 AUD

Living costs

• On-campus accommodation- 2-8 L
• Off-campus accommodation- 4-12 L
• Internet- 40-78 L
• Groceries- 3-7 L
• Transport (public)- 78k – 2L
• Miscellaneous- 9-26L (approximately)

Scholarships for Indian Students

If you’re worried about managing your finances, scholarships have your back! International students pursuing an MBA in Australia can fund and balance out their expenses with numerous scholarships available. A few of the popular MBA scholarships in three renowned universities are listed below-

Melbourne Business School

The University of Melbourne is Australia’s second oldest university that offers a graduate program for Masters of business administration at its business school. Students have a choice of either opting for a two-year full-time course or a part-time course. The university provides several scholarships for its students, including the Kraft Heinz scholarship, with five awards of 12,000 AUD each. Another scholarship it offers is the MBS Scholarship for students pursuing a full-time, executive or senior executive MBA. Lastly, it even gives Diversity Excellence Scholarships for full-time MBA students, providing them with 50,000 AUD.

Adelaide Business School

It is known as Australia’s first university to offer degrees in business. It boasts its coursework to be developed by industry experts in consultation with their advisory board, which includes accounting, finance, entrepreneurship, international business, commerce, marketing, etc. The cost of MBA in Australia’s University of Adelaide can be adjusted with the Adelaide MBA Scholarships, which require a formal application to waive their tuition fees.

University of Sydney

Sydney University is distinguished as the first university in Australia, founded in 1850. The University of Melbourne offers a full-time and a part-time MBA course that lasts over 1.5 years. It also provides an array of scholarships, with a few specially designed for Indian postgraduate students, such as the Sydney Scholars India Scholarship Program and Sydney Scholars India Equity Scholarship. Other scholarships include the UOW postgraduate academic excellence scholarship, where international students could avail themselves of at least a 75% overall score, giving them an exemption of 30% of their tuition fee. In addition, UN Women NC MBA Scholarships in Australia for the part-time course give an award value of 60,000+ AUD. 

Job Prospects

International students who graduate from these universities can explore full-time employment in the nation as quickly as domestic students. After the completion of the degree, graduates can get the following jobs with the salaries given-

Profession	Average Salary
Account Executive	36 L
Business Development Manager	49 L
Finance Manager	56 L
Human Resource Manager	57 L
Marketing Manager	50 L
Operations Manager	57 L
Project Manager	60 L
Senior Business Analyst	61 L
Sales Manager	62 L

Other job roles include industry specialist manager, business consultants, program, product, and general manager. Furthermore, there are students who choose to return to their home country after their studies. This could work for their advantage, as this degree, as mentioned earlier, could act as a differentiator, setting them apart from other applicants in a competitive market like India.

MBA Specializations in Demand

There is a wide range of MBA specializations in Australia, catering to various career interests and industry demands. This diversity in specializations makes pursuing an MBA in Australia an exciting and enriching experience for Indian students.

• MBA in Finance with a base salary of 110000 AUD
• MBA in Marketing with a base salary of 95000 AUD
• MBA in Human Resource Management with a base salary of 90000 AUD
• MBA in Information Technology beginning with 100,000 AUD
• MBA in International Business with 115000 AUD base salary 
• MBA in Entrepreneurship with 85000 AUD starting pay
• MBA in Supply Chain Management with 100000 AUD base salary 

Conclusion

Australia is the top choice for students around the globe, and the cost of MBA in Australia is comparatively lower than even in the United States. Even the course duration is shorter here. The program’s focus on practical skills prepares graduates with leadership and management qualities, preparing them to be the best for their future. The top recruiters, including BHP and McKinsey & Company, seek MBA graduates in Australia, offering an average salary of INR 62,78,072.

FAQs

How much is the cost of MBA in Australia?

According to the Australian government, the cost of MBA in Australia can vary widely, ranging from AUD 21800 to 106650 per year. The group of 8 universities in Australia may have relatively higher fees. However, most universities have scholarships that can cut down your study costs.

Is admission to MBA universities in Australia competitive?

About 39% of applicants with a strong profile get accepted, and 42% get rejected due to high competition and limited seats. Given the perks and return on investment after securing a job, it could be highly competitive.

Are there universities in Australia that could offer admissions without work experience or other additional requirements?

Yes, Australian universities like RMIT and the University of Newcastle offer MBAs to applicants without job experience or other requirements beyond the minimum requirements.

Can I get a PR after an MBA in Australia?

As an Indian student looking forward to a PR, one must satisfy the General Skill Migration rules to obtain it. Australia uses a point-based system for this; an MBA on the skill list can collect points towards your PR. 

What are the top MBA courses in Australia?

Accounting and finance, hospitality management, innovation and entrepreneurship, sports management and banking are the top courses in Australia’s MBA stream.