Australia is the third most popular destination for international students pursuing higher education. What sets Australia apart from other nations is that a quarter of its population is non-native. Australia’s multiculturalism and secularism make it an open and welcoming place for international students.
At present, approximately 600,000 international students from 140 countries are studying in Australia. Australia provides internationally recognized degrees at all levels including undergraduate, MS, PhD and MBA. Indian students make up the second largest group of international students studying in Australia.
Why Pursue an MBA in Australia?
Pursuing business and management studies in Australia offers a unique opportunity for study abroad students. Australia offers 77 globally renowned and recognized MBA programs, most accredited by AACSB and EQUIS. International quality and excellent job and internship opportunities, coupled with beautiful, warm weather make Australia a sought-after destination for pursuing business studies.
• Management graduates have the opportunity to enhance their theoretical knowledge and gain hands-on experience through capstone projects.
• Programs focus on building a holistic business approach by enhancing students’ interpersonal skills and developing leadership skills.
• Students are encouraged to think laterally by analyzing real time business scenarios and participating in extensive peer-to-peer discussions and networking sessions.
• Internship opportunities provide students better understanding of international business practices and facilitate participation in international exchange programs and facilities tours.
• There are opportunities to specialize in diverse subjects ranging from Finance to Information Technology and Entrepreneurship.
• An MBA student in Australia experiences a diverse, international culture.
Prerequisites for Enrolment:
The following criteria may differ for each program and university:
• An undergraduate (bachelor’s degree) from a well-recognized, accredited university is a prerequisite.
• Many programs also require candidates to have professional experience.
• Applicants need to submit recommendation letters, a statement of purpose and a detailed resume.
• For entry into some programs, applicants might need to clear an examination, interview or submit a portfolio.
• Some Business and Management programs require The Graduate Management Admission Test (GMAT). However, many Australian universities use a GMAT score as an additional requirement for candidates not fulfilling other entry conditions.
Cost and Expenses:
Program fees range from AUD $19,000 to more than AUD $100,000 which includes tuition, living expenses and miscellaneous expenses for international candidates. However, these figures are not specific and can vary depending on program length, specialization and participation in extracurricular activities like study tours.
English Language Requirements:
• IELTS or Toefl iBT scores are compulsory.
• Cambridge EnglishAdvanced (CAE), Occupational English Test (OET) and the Pearson Test of English (PTE) scores are also accepted.
What are the Top BSchools in Australia?
A coalition of the top eight universities in Australia (Go8), make up the most renowned, oldest and top ranked universities in the nation. In 2016, all eight universities secured a spot in the top 150 global universities list. The Go8 include:
• The University of Adelaide
• The Australian National University
• The University of Melbourne
• Monash University
• The University of New South Wales
• The University of Queensland
• The University of Sydney
• The University of Western Australia
The visa application process is online. A document checklist, which varies for each program, is available on the DIBP website and it mentions all the requirements that need to be submitted. Information is also available at the nearest Australian visa office.
• To be eligible for a student visa, an applicant must first enrol in a full-time program that is registered with the Commonwealth Registry of International Courses for Overseas Students (CRICOS).
• After enrolment with CRICOS and paying the fees, the candidate receives a Letter of Offer or Confirmation of Enrolment (CoE) from the university.
• A non-refundable fee of AUD$550 applies for Australian visa applications. The candidate may also have to pay for medical examinations, police verification charges and translating documents into English, if needed.
• When classes are in session, a student can work up to 20 hours per week.
• A student can work more hours during semester breaks and after their course has ended.
What are Prospective MBA Career Opportunities?
• MBA graduates, depending on their specialization, can gain employment in different fields such as finance, sales, marketing and HR.
• They can also be employed in public and private organizations, the banking industry, and the food and fashion industries.
• Global companies such as KPMG, Westpac and Amex are recruiting international MBA students, offering lucrative pay packages and internship opportunities.
• Management graduates often join startups and are inclined to be entrepreneurs. Some MBA programs are now offering specializations in Entrepreneurship alongside more traditional courses.
The Duration of the Course:
Most fulltime MBA programs are designed for one to two years (12 24 months) of study.
What are the Deadlines?
• Some universities accept applications twice a year, while some accept applications three times a year.
• Deadlines are generally in February, July and November.
• A few universities also offer four intake sessions per year.