Shreyashi Pathak Study Abroad Content Specialist
Study Abroad Content Specialist
The Master of International Business (MIB) in Australia is a 1.5 to 2-year program designed for students looking to build a successful global career. Top universities such as the University of Melbourne (#13), University of Sydney (#18), and University of New South Wales (#19) offer this program, ranking among the world's best in the QS World University Rankings 2025. With tuition fees ranging from AUD 37,000 to 58,560 (₹2,014,443 – ₹3,181,565), Australia provides high-quality education at a competitive cost, making it a popular choice for international students.
To support students financially, Australian universities offer various scholarships, helping to reduce tuition costs. Some notable options include the India $10,000 Early Acceptance Scholarship from Macquarie University, which provides a fee reduction of AUD 10,000 (₹543,300) per year, and the Future Leaders Scholarship from RMIT, offering a 20% tuition fee waiver, making education more affordable. Additionally, Graduates of the MIB program in Australia have excellent career opportunities with top global companies like Deloitte, PwC, Amazon, and Unilever, with an average salary ranging between AUD 65,000 to 130,000 (₹3,531,450 – ₹7,062,900) per year.
Explore: Study in Australia for Internatonal Students
- Top Universities for Masters of International Business in Australia
- Why study Masters of International Business in Australia?
- Eligibility Criteria and Admission Requirements for MIB in Australia
- Masters of International Business in Australia: Cost of Study
4.2 Cost of Living in Australia
- Scholarships for Masters of International Business in Australia
- Job Opportunities after Masters of International Business in Australia
- FAQs
Top Universities for Masters of International Business in Australia
The table below provides information on top Australian universities offering MIB degrees, making it easier for international students to explore their options for pursuing architecture in Australia:
| QS World University Ranking 2025 | University Name | Course Name | Course Duration | Estimated Annual Tuition Fees (AUD) (INR) |
|---|---|---|---|---|
| #13 | University of Melbourne | Master of International Business | 2 years | AUD 54,048 (₹2,936,428) |
| #18 | University of Sydney | Master of International Business | 1.5 years | AUD 55,100 (₹2,993,583) |
| #19 | University of New South Wales (UNSW) | Master of International Business | 2 years | AUD 58,560 (₹3,181,565) |
| #30 | Australian National University | Master of International Business | 2 years | AUD 53,700 (₹2,917,521) |
| #37 | Monash University | Master of International Business | 1.5 years | AUD 45,033 (₹2,446,643) |
| #40 | University of Queensland | Master of International Relations | 2 years | AUD 48,160 (₹2,615,473) |
| #77 | University of Western Australia | Master of International Relations | 2 years | AUD 37,100 (₹2,014,443) |
| #82 | University of Adelaide | Master of International Business | 2 years | AUD 46,000 (₹2,497,180) |
| #88 | University of Technology Sydney | Master of Business Administration (International Business) | 2 years | AUD 47,760 (₹2,592,485) |
| #133 | Macquarie University | Master of International Business | 1–2 years | AUD 39,000 (₹2,119,070) |
Why study Masters of International Business in Australia?
The points below highlight why an international student should consider pursuing a Masters of International Business degree in Australia:
- Top-Ranked Universities: Australia is home to some of the best universities, with 30 institutions ranked in the QS World University Rankings 2025, and 9 of them in the top 100, showcasing the country's strong education system and global reputation.
- Global Business Hub: Australia hosts top multinational companies and is known for its strong economy, business-friendly environment, and global trade connections. Universities like the University of Melbourne, University of Sydney, UNSW, and Monash University have strong industry links, helping students gain valuable exposure.
- Post-Study Work Opportunities: International students graduating with an architecture degree in Australia can apply for a post-study work visa, allowing them to stay and work for up to 4 years. This opportunity helps graduates gain valuable industry experience and build a professional career in Australia’s thriving architecture sector.
- Trade & Economic Growth: As the 12th largest economy globally, Australia has strong trade links with Asia, the US, and Europe, providing students exposure to international markets and business trends.
- Competitive Salaries and ROI: The average starting salary for MIB graduates in Australia ranges between AUD 80,000– 110,000 per year (₹43-59 Lakh INR). Post-study work opportunities allow graduates to gain international work experience and build a global career.
- Multicultural Environment: With over 700,000 international students, Australia provides a diverse and inclusive learning experience, ideal for understanding cross-cultural business dynamics. Additionally, as per Forbes 2024 ranking Cities like Sydney, Melbourne, and Brisbane are ranked among top 20 the world's most livable cities, offering a high quality of life.
Eligibility Criteria and Admission Requirements for MIB in Australia
Here are the key eligibility criteria and admission requirements you need to meet to apply for a Master of International Business in Australia:
| Criteria | Requirements |
|---|---|
| Academic Qualification | A recognized bachelor’s degree in business, management, or a related field. Applicants from non-business backgrounds must demonstrate relevant experience or complete prerequisite courses. |
| Minimum GPA Requirement | A GPA of 5.0 on a 7-point scale or equivalent. Some universities may have specific grade requirements. |
| English Language Proficiency | IELTS: Overall 6.5 – 7.0, with no band below 6.0.TOEFL iBT: 79 – 100.PTE Academic: 58 – 65. |
| Work Experience | Relevant professional experience of 1-2 years is preferred but not mandatory. |
| GMAT/GRE Scores | Not required for most universities but can enhance the application. |
| Statement of Purpose (SOP) | A written statement outlining career goals, motivation for pursuing the course, and relevant experience. |
| Letters of Recommendation (LORs) | Two letters from academic or professional referees. |
| CV/Resume | A detailed resume highlighting academic achievements, work experience, and relevant skills. |
| Visa Requirements | A valid Student Visa (Subclass 500), proof of financial capacity, and health insurance. |
| Application Fee | Application fee ranges between AUD 100 – 150. |
Master of International Business vs MBA
The Masters of International Business is an extension of subjects taught in an MBA. It contextualises business management on an international scale. Provided below is a comparative analysis of MBA and MIB:
- Admission is typically more competitive for an MBA program.
- If you have work experience, you can do an accelerated program for Masters of International Business in Australia, which will provide you degree value at reduced time and cost.
- Most MBA programs require at least three years of work experience, while for Masters of International Business programs, work experience is not mandatory.
MBA programs require you to choose a specialization, whereas Masters in International Business is a specialized program.
Masters of International Business in Australia: Cost of Study
When planning to study abroad, international applicants must keep in mind that they will encounter expenses like tuition, accommodation, etc. These expenses can be broadly categorized in pre-arrival and post-arrival. Pre-arrival costs include one-time expenses including exams, travel, etc. Post-arrival cost includes tuition and the cost of living abroad. The detailed outline of these is briefed in the sections below.
Pre-arrival costs
These are one-time investment costs that cannot be ignored in any circumstances. These mainly include application fees, fees for exams required to study in Australia, visa application fees, airfare, and more
| Type of Expense | Estimated Cost (INR) |
|---|---|
| Application Fees | ₹7,000 – ₹17,000 |
| Visa Application Fees | ₹32,000 |
| IELTS Application Fees | ₹15,500 |
| TOEFL Application Fees | ₹16,900 |
| Airfare | ₹49,000 – ₹84,000 |
| Health Insurance | ₹1,20,000 |
Cost of Living in Australia
The table below provides an overview of the estimated monthly cost of living in Australia for international students, covering various essential expenses:
| Expense Category | Monthly Cost (AUD) | Monthly Cost (INR ₹) |
|---|---|---|
| Homestay | A$ 940 - A$ 1,300 | ₹ 51,032 - ₹ 70,577 |
| Student Halls | A$ 440 - A$ 1,120 | ₹ 23,887 - ₹ 60,804 |
| Apartment Rental | A$ 740 - A$ 1,760 | ₹ 40,174 - ₹ 95,550 |
| Food | A$ 500 - A$ 1,000 | ₹ 27,145 - ₹ 54,290 |
| Transportation | A$ 100 - A$ 150 | ₹ 5,429 - ₹ 8,143 |
| Internet & Utilities | A$ 140 - A$ 200 | ₹ 7,601 - ₹ 10,858 |
| Health Insurance | A$ 50 - A$ 100 | ₹ 2,715 - ₹ 5,429 |
| Entertainment | A$ 200 - A$ 300 | ₹ 10,858 - ₹ 16,287 |
Scholarships for Masters of International Business in Australia
As an international student, studying abroad can be quite expensive. As a result, various organizations like the government, universities, and privately funded organizations provide scholarships to international students to help them during their studies. Some scholarships provided to international students in Australia during their studies are:
| Scholarships | Awarded by | Eligibility | Benefit |
|---|---|---|---|
| Swinburne International Excellence Postgraduate Scholarship | Swinburne University of Technology | Academic result of at least 60% GPA | 30% off in tuition fee |
| International Merit Scholarship | Queensland University of Technology | Shown academic excellence, minimum English language entry, admission offer letter for the course applied | Covers 25% off tuition fees for first 2 semester |
| South Asia Excellence Scholarship | University of Newcastle | Passport of South Asian country, Merit based | 10,000 AUD |
| UOW Postgraduate Academic Excellence Scholarship | University of Wollongong Australia | Merit based | 30% tuition fee waiver |
| Future Leaders Scholarship | RMIT | Citizen of South Asian country, Offer letter of RMIT program | 20% tuition fee reduction |
| The University of Adelaide college International scholarship | The University of Adelaide | Offer Letter of University’s Program | 10% tuition fee reduction |
| India $10,000 Early Acceptance Scholarship | Macquarie University | Indian citizen, acceptance letter from the university program, No dropout during the program | Fee reduction of 10,000 AUD per year |
| Australia Awards Scholarships | Australian Government | Citizens from eligible countries with academic merit | Full tuition fees, return airfare, establishment allowance, contribution to living expenses, and more |
| Destination Australia Program | Australian Government | International students enrolling in full-time studies at regional campus locations in Australia; meet the entry requirements of the enrolled program | Up to AUD 15,000 per year |
Job Opportunities after Masters of International Business in Australia
Here's a quick look at some high-paying job opportunities you can explore after completing a Master of International Business in Australia:
| Job Role | Top Recruiters | Salary Range (AUD) | Salary Range (INR) |
|---|---|---|---|
| International Business Manager | Deloitte, PwC, EY, Amazon | A$ 90,000 - A$ 120,000 | ₹ 4,889,700 - ₹ 6,519,600 |
| Global Marketing Specialist | Unilever, Coca-Cola, L'Oréal, Google | A$ 70,000 - A$ 95,000 | ₹ 3,803,100 - ₹ 5,161,350 |
| Supply Chain and Logistics Manager | FedEx, DHL, Amazon, Nestlé | A$ 80,000 - A$ 110,000 | ₹ 4,346,400 - ₹ 5,976,300 |
| International Trade Consultant | KPMG, Trade Commission, Government Agencies | A$ 85,000 - A$ 105,000 | ₹ 4,618,050 - ₹ 5,704,650 |
| Business Development Manager | HSBC, Microsoft, Tesla, Accenture | A$ 75,000 - A$ 100,000 | ₹ 4,074,750 - ₹ 5,433,000 |
| International Financial Analyst | Goldman Sachs, JP Morgan, ANZ, Macquarie Bank | A$ 85,000 - A$ 115,000 | ₹ 4,618,050 - ₹ 6,244,950 |
| Policy Analyst (International Business) | UN, World Bank, Government Agencies | A$ 70,000 - A$ 90,000 | ₹ 3,803,100 - ₹ 4,889,700 |
| Export/Import Manager | Maersk, Siemens, Boeing, Caterpillar | A$ 65,000 - A$ 85,000 | ₹ 3,531,450 - ₹ 4,618,050 |
| Management Consultant | McKinsey, BCG, Bain & Co, Accenture | A$ 95,000 - A$ 130,000 | ₹ 5,161,350 - ₹ 7,062,900 |
Also Check: Part-Time Jobs in Australia for International Students
In a nutshell we can conclude With the Masters of International Business course in Australia, you can gain access to industry and acquire real-world experience on a global scale. While the cost of studying and living in Australia may be higher than in some other countries, the high-quality education, supportive academic environment, and diverse cultural experiences can make it a worthwhile investment.
FAQs
Ques: Can I pursue a Master of International Business in Australia without a business background?
Ans: Yes, universities like the University of Melbourne, RMIT University, and University of Sydney accept students from non-business backgrounds, often requiring completion of prerequisite courses or bridging programs.
Ques: Do Australian universities offer internship opportunities during the MIB program?
Ans: Yes, many universities such as the University of Melbourne, University of Sydney, and Swinburne University of Technology provide internships or industry placements to help students gain hands-on experience and industry exposure.
Ques: Can I specialize in a particular area within the MIB program?
Ans: Yes, universities like UNSW Sydney and Monash University offer specializations in areas such as international marketing, trade policy, and supply chain management, allowing students to focus on their preferred career paths.
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