Are You on a Leadership Path? Think MBA
If you have leadership as your passion/goal, you might have thought about pursuing an MBA. Undertaking an MBA program has traditionally been accepted as a time-tested means to:
- Develop new/advanced/specialised skillsets
- Add to your learning curve and knowledge
- Jump-start/Accelerate your career
- The transition from one industry to another
- Change roles
- Pursue a passion
- Widen your professional network
- Train for thought leadership and entrepreneurship
- Foster and nourish creativity
- Build and lead enterprises/institutions
- Thrive in an increasingly competitive, dynamic, and—often—disruptive business ecology
So, if you have decided on pursuing an MBA, and that too from abroad, then the next big thing in your mind, of course, would be: From which country should I pursue my MBA?
MBA Aspirants: A Top Destination
Traditionally, the US, Canada, and the UK have been the favoured destinations of MBA aspirants from India. However, of late, Australian Business Schools are vying with the big names in business education to attract students like you.
Studying Business in Australia: Fact Check
- The QS Global MBA Ranking 2020 lists 12 Australian Business Schools among the top 200
- The QS Graduate Employability Rankings 2020 features 20 Australian Business Schools among the top 500
- Most of the Business Schools are accredited by the Association to the Advanced Collegiate Schools of Business (AACSB), Association of MBAs (AMBA), and the European Foundation for Management Development (EFMD)’s EQUIS Quality Improvement Scheme, the gold standards of Business education
- Business Schools that are part of Group of Eight (Go8) universities, provide that extra Assurance of Learning for the programs they offer
- In 2015, a report on the ‘Benchmarking Enrolments of International Students in Australian University Postgraduate Business Courses’, authored by Dennis Murray and Stephen Connely showed:
- In 2013, 16,301 students were enrolled in Australian MBA courses, on and offshore, of which 6,949 (42.6%) were international students
- International students constituted nearly 30% of onshore students enrolled for onshore Australian MBA courses in 2013
- 1 in every 3 students enrolled were international students
Expectedly, these numbers have grown steadily in the intervening years.
- According to March 2020 data on Higher Education Enrolment of Indian Students (numbering 105, 156) by Broad Field of Education in 2019, featured in Data Visualisations of ‘Where Do International Students Come from and What Do They Study, released by the Australian Government’s Department of Education Skills and Employment
- 25,916 came to pursue higher education in Management and Commerce, the highest numbers according to the category
- 23,440 came to study Information Technology
- 8629 pursued Engineering/Technology
MBA in Australia: The USP
So, what makes Australia a favourite destination for many international students to study an MBA? Here are the most cited reasons for studying an MBA in Australia.
- Programs are globally ranked and internationally accredited
- World-class curriculum and orientation backed by the Australian Qualifications Framework (AQF)
- A strong job market ensures a high Rate of Employability and Return on Investment (RoI)
- The worldwide demand for MBA graduates is highest in the Asia-Pacific region, according to the Corporate Recruiters Survey 2019, published by the Graduate Management Admission Council (GMAC), the administrators of GMAT™
- The Survey observed that nearly 9 in 10 (87%) companies in the Asia-Pacific plan to hire MBAs in 2019
- Assured Learning and Graduate outcomes
- Programs are less costly compared to comparable programs in the US, UK, or Canada
- The cost of living is affordable
- 1-2 years programs
- Proximity to the fast-growing ASEAN economies. Ideal for those who want to gain deep understanding and insights of business and enterprise in the Asia-Pacific region and its business capitals such as Hong Kong, Singapore, Sydney, Taipei, Tokyo, Beijing, Seoul, Manila and Kuala Lampur
- Most attractive internship opportunities
- Favourable climate and beautiful locale
- An attractive and enhanced lifestyle
- Safe and multicultural milieu
- Part-time work up to 40 hours every 2 weeks
What Does It Take to Get An Admit?
Let us now take a quick look at what you need to have to get into a leading Australian Business School. However, what we are discussing are the broad eligibility criteria. It is always best and we strongly recommend that you thoroughly research your School of choice to be certain about its requirements for international students.
- A bachelor’s degree from an accredited institution in India recognised by the Australian Government Department of Education, Skills, and Employment
- Strong academic background
- Strong GMAT™ score (650+)
- Robust English Language sufficiency
- Accepted tests include IELTS/TOEFL® iBT, Cambridge English-Advanced (CAE), Occupational English Test (OET), and Pearson Test of English (PTE). Consult your university for their specific test requirement and score
- Although not mandatory, a minimum of 2 years of work experience is a definite plus for your profile
- Strong extra-curricular
- A strong proof of sufficient fund to cover tuition, travel, living costs, and additional costs in Australia
Life after an MBA: The Return on Investment
We all know pursuing an MBA abroad is a major financial undertaking. You might view this, in retrospect, to be a watershed decision of your career. It can be the most important financial investment as well as a challenge of your career. So before hitting the road—the most significant commitment for your career—what is uppermost in our mind? Most of us, I am certain, would say it is a job. That is perhaps the most important reason that we have in mind when we choose a country to study. Where do I get the cushiest jobs?
Australia is an advanced economy that is ranked 16th in the World Economic Forum’s Global Competitiveness Index 4.0 Report 2019. A resource-rich nation, with a traditionally strong mining and metal industries, there is robust growth in professional services such as health, education, hospitality, real estate, engineering, information technology, infrastructure development, logistics, agribusiness, financial services and consultancies. With your premium qualification and newly acquired skills for the knowledge economy, you have solid reasons to expect a fantastic return on investment.
Here is a snapshot of metrics from the 2017 Graduate Outcomes Survey National Report published in January 2018 by the Quality Indicators for Learning and Teaching (QILT).
- Postgraduate coursework graduates from Business and Management received the highest median salary of $109,100
- Postgraduate research graduates from Business and Management received a median salary of $96,000 And…. that is not all. A 2019 report ‘What Can You Expect to Earn after Studying an MBA?’ by the RMIT Online adds the icing on your MBA cake. It asserts that
- Working in Australia is financially more attractive with post-MBA salaries going up to US$155,000
According to the QS TopMBA.com Return on Investment Report 2018, in the Asia-Pacific region
- 7 Australian universities made to the top 10 for the highest salary level
- 5 Australian universities ranked among the top 10 in terms of highest 10-year RoI.
- 2 Australian universities—the University of New South Wales and the University of Melbourne—ranked among the shortest payback periods
Also, you get the added incentive of the staying back option by applying for the Temporary Graduate Visa (Subclass 485) that allows you to work in Australia temporarily after you finish your studies to gain work experience. You might apply under two streams: the Graduate Work stream and the Post-Study Workstream. The Graduate Work Stream gives you the stay-back option for 18 months; under the Post-Study Work Stream, you will get a stay-back option for two, three, or four years’ duration. However, as an international student, you will be eligible for Subclass 485 only when you have studied in Australia for at least 16 months.
The Big League
Here are the top and popular business schools in Australia:
- Melbourne Business School
- Australian Graduate School of Management (AGSM)
- Monash University Business School
- University of Queensland Business School
- MGSM Macquarie University
- Australian National University
- La Trobe University Business School
- University of New South Wales
- RMIT University of Business and Law
- The University of Sydney Business School
- Adelaide Business School
- Queensland University of Technology Brisbane Graduate School of Business
- Griffith Business School
So, if you have convinced yourself about pursuing an MBA from Australia, act now. Or you can always reach us at Manya. Our team of Admission Advisors will be happy to help you, always, as they do for many other MBA aspirants like you.
For more information, call our Study Abroad Helpline 1800 102 4646
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