Australia was rated as the world’s 5th freest economy in the 2016 index. Being economically free means that Australia is open for business and it is continuously working to create opportunities for companies and individuals to work, produce, consume, and invest freely.
As a result, it is no surprise that Australia is rapidly becoming a major global hub for business, especially the cities like Melbourne and Sydney. Masters of Business Administration (MBA) provides the right set of skills, experience and knowledge to satisfy the demands of the Australian job market. The Australian business schools are structured to provide high standards of education and training, which is why the University of Melbourne and Australian Graduate School of Management have appeared among the top 100 business schools in the world since past decade.
Course Layout and Fees
The MBA courses in Australia usually last two years when studied full time. This duration consists of four semesters with exam time at the end of each session. The courses are assessed by coursework, presentations, exams and a dissertation project. The proportion of this assessment material depends on the elective modules you will pick throughout your degree. The course is likely to involve a large proportion of group work and team projects to build your team working and leadership skills.
You can expect to study a wide range of theoretical content and approaches including economics, strategy, occupational psychology, governance, leadership, financial markets etc. During the last term of your degree, you will have the option to specialise in a specific field by picking elective modules and your dissertation topic. Some of the choices are going to include marketing, finance, human resource management and accounting.
The tuition fees for the MBA courses in Australia can range from anywhere between AUD$11,000 to AUD$27,000 per year (full time). It is worth remembering that this does not include the boarding and lodging, rent and maintenance costs. Find our guide to student living costs in Australia, here. To fund your studies abroad you can also apply for scholarships and work part time.
MBA degree is an ideal launch pad for careers in the business, corporate world and a wide range of other industries. MBA equips you with a diverse array of hands-on knowledge and skills to make you valuable in the job market. Having work experience with your MBA degree will further enhance your creditability for future jobs and career development.
There is a high demand for the MBA qualified professionals in Australia, which makes the Australian MBA even more rewarding. The fast growing industries in Australia include consultancy, natural resources, trade, financial service, materials and building industry. These industries recruit and engage with people from all over the globe as the demand for business professionals to run companies in the rapidly growing market is high.
George Bedwani from Transmetro Corporation Ltd says that ‘don’t come just for business. Make sure you take time out to enjoy the unique food and wine experience – it’s of a world class standard’. So remember, Australia with its rich culture, welcoming people, delicious cuisines, shopping malls and beaches, has more than just business to offer.
In order for you to be considered for an MBA programme in Australia, you should have completed your undergraduate degree. It is favourable to have some content of your undergraduate degree to be business related; however it is not an essential requirement. Although, the grade you achieved for your degree is key!
As an international student you will need to prove your proficiency of English Language. This means you would either be required to have an undergraduate degree from an Australian or English based course and university or take the IELTS or TOFEL exam. Universities will ask for atleast 6.5 bands out of 9 for IELTS and 610 score for TOEFL, while others might have a higher requirement for English Language.
Most MBA courses will also require for you to have taken the Graduate Management Admission Test (GMAT) exam. The requirement for GMAT scores is highly varied across each university and the best way to find out about these requirements is to contact the university you are thinking to apply to.
Pathway to Executive MBA and Higher Education
MBA degree can also be a solid academic platform for you, leading to further opportunities for an Executive MBA and PhD qualifications.
Alternatively you can choose to specialise in a more specific fields by pursuing MSc. Degree. Having an MBA would help you enhance your future applications for jobs and higher education.