Quite a few academic institutions offer a great variety of low-cost MBA programs in Australia. Because of the wide range of these MBA programs that are offered, the choice for the right program may not be so easy. This post contains useful information about affordable MBA programs in Australia, as well as a list of the country’s cheapest MBA programs.
Within the Australian Continent, the University of Adelaide was the first to offer an MBA program in 1963. The Universities of Melbourne and New South Wales followed suit in 1964. Nowadays, there are more than 50 MBA programs offered by many academic institutions all over Australia. Many International students are enrolling in one of the Australian MBA programs.
The percentage of the Indian student population in Australian MBA programs is as high as 35 percent, according to the Official Statistics Agency. Unofficial student estimates rather show an international student mix of 35 percent Asian (meaning east-Asians), 30 percent Indian, and only 35 percent Australian.
In Australia, the procedure for obtaining a Permanent Residency (PR) is relatively simple and quick. Herein lies one of the most important reasons why the number of international students has grown so strong over the last decade.
Take also a look at this video about top Australian Business school:
Check also our guide to U.S. MBA Programs that don’t require the GMAT, organized by state.
Only later in their courses, mostly one year into their program, many international students will apply for their Permanent Residency. The reason is that their documents will have been processed by the time that they have graduated. If you are still waiting for the approval of your PR application and you graduate, you are allowed to stay in Australia for the period of time that is required for authorities to reach a decision.
An Australian MBA program will cost you, only for tuition and course fees, from about $15,000 to $40,000 annually, depending on the Business School and the program of your choice and regional differences. You should of course also take into consideration the costs of learning materials, other administrative fees, and the regular cost of living.
I will give you an example. A very popular 2-year MBA program at The University of Technology of Sydney (UTS) would cost you around AUD 31,000 per year. This can be considered as relatively cheap for an MBA or another post-graduate degree in Australia.
Choosing the University
In the US there is an official ranking of Universities. This is not the case in Australia. So it may be a little harder to find out which school is best for you. Important elements of consideration are course content, location, and cost. Another influencing factor for Indian students is the city lifestyle. An IDP representative at India’s Mumbai office states that most students from that city want to go to Universities in Sydney or Melbourne because those cities are offering city lifestyles. Only very few of them go to the Universities of Tasmania and Northern Territory despite the fact that these universities have an outstanding reputation. They are just in quieter locations, and simply not as well known as universities from major cities.
All Australian MBA programs lead to degrees that are recognized by other universities across the globe and also by local and international organizations, institutions, and governments. In Australia MBA programs have shifted from the more traditional US MBA program type into programs that are more influenced by leading Asian and European Business Schools. For example, ANU (Australian National University) in Canberra has developed an MBA that is focused entirely on the Asian – Pacific region
MBA requirements in Australia
Generally, universities in Australia require undergraduate degrees and a period of relevant work experience of at least two years. Requirements and prerequisites may be more rigorous, and vary drastically depending on the institution. Requirements may include a satisfactory performance on the GMAT, excellent grades in your undergraduate degree, outstanding references and proven and demonstrated skills to fit in the MBA program.
There are situations where students could be admitted into an MBA program without having obtained an undergraduate degree. This only applies when applicants will have several years of relevant and outstanding management experience. It is common as well that students are required to take a Graduate Certificate in Business Administration first, followed by the relevant Diploma and subsequently leading to an MBA, depending on grades achieved
Typical MBA programs will contain some, or all, of these fundamental subjects: Economics, Finance, Accounting, Statistics, Operations, Marketing, Organisational Behavior, Quantitative Methods and Business Strategy. To allow students to specialize in a certain field to enhance their professional careers, many MBA programs will also offer a broad range of electives. Included in new specializations are for example Internet Marketing and E-Commerce. Other fields of professional concentrations are International Marketing, Human Resource Management, and Public Sector Management.
Nowadays many MBA programs are including a number of subjects that will develop management skills in so-called “soft areas” such as leadership, team-building and negotiation techniques. This is a reaction to the “old school” perception that a lot of MBA graduates used to be only strong in “hard” disciplines, like quantitative techniques. One of the essential aspects of a good MBA program is that it will equip students with a solid foundation to manage businesses in an effective way. A good MBA program provides tools, techniques, and skills required to become a leader. An MBA program will demonstrate how various disciplines are related, and how they work across all organizations, businesses, and industries.
MBA graduates are highly valued and sought-after by many employers and business leaders all over the world. One of the reasons may be that students, by taking an MBA, are showing and demonstrating their intellectual capacities. For employers also counts that their determination to complete a demanding study schedule demonstrates their well-developed mentalities.
MBA students and part-time jobs
In Australia, international students are permitted to work for a maximum of 20 hours per week. This applies only when students are actually enrolled in a program and are factually studying. There are strict rules that are strictly enforced. Immigration authorities are extremely cautious.
Check out these well-reputed MBA programs presented by top schools:
The University of Ballarat, Federation Business School
Lydiard Street S, Ballarat VIC 3350, Phone: +61 3 5327 8000, Tuition: AUD 49,600 ($24,800/year) source: a website
Southern Cross University, Graduate College of Management
Military Road, East Lismore NSW 2480, Phone: +61 2 6620 3000, Tuition: AUD 44,960 ($22,480/year)
(Sydney: $23 040/year, Melbourne: $23 040/year) source: a website
The University of Technology Sydney City Campus
15 Broadway, Ultimo NSW 2007, Phone: +61 2 9514 2000, Tuition: AUD 62,344 (96 crh/$939) for international students source: a website
Victoria University, Victoria Graduate School of Business
300 Flinders Street, Melbourne VIC 3000, Phone:+61 3 9919 6100, Tuition: AUD 43,520 (10,880/semester) source: a website
The University of New England, Graduate School of Business Administration
Handel Street, Madgwick NSW 2350, Phone: +61 2 6773 3333, Tuition: In-state AUD 27,984 (12 units/$2332), out-of-state AUD 32,400 (12 units/$2700) source: a website
Charles Darwin University, School of Business
Ellengowan Drive, Casuarina NT 0810, Phone: +61 8 8946 6666, Tuition: AUD 46,960 (23,448/year) source: a website
Central Queensland University, Faculty of Business and Law
333 Kent Street, Sydney NSW 2000, Phone: +61 2 9324 5000, Tuition: AUD 37,230 (17 courses/$2,190) source: a website
The University of Newcastle, Faculty of Business and Law
60 Bathurst Street, Sydney NSW 2000, Phone:+61 2 8262 6400, Tuition: AUD 62,560 ($31,280/year) source: a website
Deakin University, Deakin Business School
1 Gheringhap Street, Geelong, Victoria 3220, Phone: +61 3 5227 1100, Tuition: AUD 64,000 ($32,000/year), International students: AUD 74,880 ($37,440/year) source: a website
The University of Canberra, School of Management
University Drive, Bruce ACT 2617, Phone: +61 2 6201 5111, Tuition: AUD $43,350 for international students source: a website
Murdoch University, Murdoch Business School
90 South Street, Murdoch WA 6150, Phone:+61 8 9360 6000, Tuition: AUD 84,600 (30 crh/$2,820) source: a website
Flinders University, School of Commerce
Sturt Road, Bedford Park SA 5042, Phone: +61 8 8201 3911, Tuition: AUD 50,200 ($25,100/year) source: a website
The University of Adelaide, Adelaide Graduate School of Business
233 North Terrace, Adelaide SA 5000, Phone:+61 8 8313 6455 Tuition: AUD 82,000 ($41,000/year) for international students source: a website
The University of the Sunshine Coast, Faculty of Business
90 Sippy Downs Drive, Sippy Downs QLD 4556, Phone: +61 7 5430 1234, Tuition: AUD 50,000 ($25,000/year) source: a website
The University of South Australia, International Graduate School of Business
Frome Road, Adelaide SA 5000, Phone: +61 8 8302 9086, Tuition: AUD 66,000 ($33,000/year) or international students source: a website
Tuition rates are for the 2016/17 academic year.
Highly experienced, but low on the GMAT? Check out these U.S. MBA-NO GMAT programs
All costs are estimates, and though we tried to be as accurate as possible, we can not be held responsible or accountable for any errors in the text above. Please check with the listed institutions for actual offerings and prices as they may change without notice.