Australian MBA programme has changed considerably from a traditional reputation of a few decades ago to a more flexible and responsive towards the constantly changing business environment. Hence, the programme in Australia has adapted to become more accessible in terms of delivery with full time, part time, online and mixed mode options, along with a range of entry requirements.
The Australian MBA market is worth about $500 million per year, with more than 30 different universities offering an MBA degree and approximately more than 20,000 students. According to statistics, up to 80% of students in some MBA courses are international students and the top five countries for international students studying in Australia are China, India, South Korea, Vietnam and Malaysia.
Eligibility for Admission
International students should check that they meet all of the entry requirements before they apply for MBA in Australia. As most Australian business universities accept the three-year graduation system for entry into the MBA programme, those who have a three-year bachelor degree in any of the following Bachelor of Arts (BA), Bachelor of Commerce (BCom) or Bachelor of Science (BSc) – which are considered equivalent to an Australian Bachelor (Ordinary) Degree - are eligible to study MBA in Australia.
There are also some universities that accept students for the MBA course without a bachelor degree as long as they have considerable work experience for at least two to three years and significant professional achievements. However, students should not be worry if they have no related work experience in this field because there are around five to six Australian business schools that accept students who have no experience for a direct entry into the MBA programme. It is also important to note international students should have a specific level of English proficiency if they intend to pursue MBA in Australia. Taking either the TOEFL or IELTS is required even you have studied in English medium throughout.
Cost of Studying MBA in Australia
Studying MBA in Australia will cost approximatelt AU$20,000 to AU$37,000 (USD 15,000 to USD 27,700) annualy. Moreover, the Department of Immigration and Border Protection stated AU$18,610 (USD 14,430) as the minimum living cost to issue a student visa and the living expenses in Australia will be based on which region you plan to live in.