Whether you want to develop the priceless managerial skills, get free access to a large business network, enhance the chances for a higher salary or start your own company from scratch, an MBA can be the next right step for you. To find the right MBA School in Australia, a close look at the following parameters might prove to be quite useful.
Eligibility: When it comes to how eligible you are to a particular University, there is one simple rule: The better the University the higher the bar. This means that it is always worth working hard to meet the strict criteria. When it comes to management studies Universities judge prospective students in three areas:
• Standardised Tests (IELTS, GMAT)
While there are many Universities that don’t ask for standardized tests (though it might be hard to escape IELTS), this usually means they are harder to impress with your grades and experience. So be prepared to market yourself well in your admission essays. If your grades are not that great and you have not gained minimum 2-5 yrs of experience it’s probably a good idea to give as many of the commonly required standardized tests as possible. Minimum score required in IELTS is 6.5 with all the bands above 6 for most Universities.
Accreditation: Graduating from an internationally recognized degree definitely adds value to your profile and helps find a good job overseas post course completion. The University which belongs to at least one of the three main international accreditations: Association to Advance Collegiate Schools of Business (AACSB), European Quality Improvement System (EQUIS), and Association of MBAs (AMBA), will ensure the credibility of your degree.
Affordability and Scholarship options: With affordability again the general rule goes: The better the University the higher the fee. However, there is a silver lining here that the better University will always have a pretty good number of scholarship options available. This might sound counter-intuitive, but the rationale is that funding institution would rather fund the students who have a better chance of succeeding. It’s mostly the best universities that come close to guaranteeing that. It might be so that more affordable universities have scholarships/financial aids that are easier to score, but these will also be fewer in number.
Along with this most private business college offering FEE-HELP as a payment system are a good choice. This means you can study now, and pay later when you find a job that pays you the compulsory repayment threshold which for the year 2016-2017 was $54,869.
Location and infrastructure: For management studies, a quick guide to a good location for a college is a more happening city. For instance, if stuck with a choice between a college in Canberra and one in Gold Coast, pick Canberra as it will probably be easier to land a job in the companies that are located closer to the University. Additionally, companies develop a level of trust with graduates from a University over time, which means you were in tune with a city’s lifestyle will always play to your advantage in recruitment there.
A quick guide to infrastructure will again be accreditation and fee structure. That being said it will also be a good idea to have a tour of the college website to check out the student facilities such as the library, hostels, food courts, online journal access and intranet, career counseling, student clubs and sports facilities.
Industry ties and network:
Finding a University with a strong network and Industry ties will be a great boost to your career.
University Network support students through the exchange program, internships and a broad range of courses of your choice. You should choose the University that falls in one of the following groups: Group of Eight, Australian Technology Network of Universities, Regional Universities Network, Innovative Research Universities Network, Association of Pacific Rim Universities and International Alliance of Research Universities. Great industry ties can be helpful to land internship opportunities, industry experience and a secure job through the campus placement.
International student-friendly: An often ignored aspect of education abroad is student friendliness. An international student can run into a variety of unexpected problems while there. These could include not being familiar with the academic rule, not finding an easy residence, not knowing how the rent system or bill payment works, being new to the currency and modes of transport, visa or immigration issues, or even a plain cultural shock! Having student bodies, institutional framework and support groups can be of huge help.
Course Structure and mode: Looking for the programs and schools that use real business case studies, field trips, and group assignments to provide hands-on experience and choosing the subjects and specialization relevant to your career choice is a necessary parameter to take account of while shortlisting the Universities.
If you are self-funded and your finances are a little shaky, you might want to take up a part-time job during your studies. Some Universities might be friendly towards this kind of arrangement, but others (usually higher ranked institutions) demand extra commitment and recommend against it. Therefore if your finances ride on your future part-time earnings it might be wiser to choose a program with a longer duration. MBA programs in Australia can have course duration varying from one to three years. Even within this colleges have varying demands for the time commitment. You also have choices of different modes of studies such as part-time and full-time modes of study to fit your tight schedule. Online modes are also available for those with extreme time constraints.