Masters in Management in Australia: Fees 2024, Top Colleges, Admissions & Salaries

Content Strategy Manager | Updated On - Apr 20, 2024

Masters of Management in Australia offers students business and management knowledge, presenting an affordable alternative to MBA degrees. The degree has various specialisations in Business Analytics, Operations Management, Information Systems, and Supply Chain Management. Australia has some of the best business and engineering schools globally, ensuring high-quality education for MIM students.

The program duration is 1 to 2 years in a full-time mode. The admission requirements for a Masters in Management in Australia include an undergraduate aggregate of 55 - 65% and a GMAT score of 680. The annual tuition cost for top MIM colleges in Australia ranges from AUD 30,000 - 70,000 (INR 16 to 37 lakhs).

The country has a growing job market for fresh Masters in Management in Australia graduates, with the opportunity to stay up to 2 to 4 years post-study to seek work. The return on investment for MIM in Australia is significant, with graduates securing salaries between AUD 50,000 - 150,000 (INR 27 to 81 Lakhs) annually. You can find employment with top firms like KPMG, Accenture, Randstad, and Gartner, offering management roles to students.

Table of Contents

Top Universities for MIM in Australia
Why opt for MIM in Australia?
Eligibility Criteria and Admission Requirements for MIM in Australia
Cost of Studying MIM in Australia
Scholarships for MIM in Australia
Jobs after Studying MIM in Australia
FAQs

Top Universities for Masters in Management in Australia

Australian universities offering Master's in Management consistently rank highly in global business education rankings. What sets Australian business schools apart is their connections with leading businesses, granting students access to internships and job opportunities upon graduation.

University Of Melbourne

The University of Melbourne has the #1 ranking in Business and Economics within Australia and #35 globally. The university has a strong reputation in business education. The Masters of Management course from the University of Melbourne has a high demand. You'll gain access to a vast network of over 60,000 business alumni upon graduation. The university offers specializations in Accounting, Finance, Human Resources, and Marketing.

Melbourne Business School's Master of Management program
QS Ranking 2024	14
Program Offered	Master of Management Marketing
Duration	2 years
Intakes	February, July
Program Fees	AUD 52,448
Top Recruiters	Platinum SEO, Accenture, Kokatto

Australian National University

The Australian National University (ANU) consistently ranks highly in global university rankings, particularly in Business and Economics. They have a worldwide network of 100,000 alumni as political, business, and government leaders. ANU has a 90% employment rate with the MoM graduates finding jobs within 6 months of graduation. Located in Canberra, ANU offers proximity to leading businesses and international organizations for networking opportunities.

Australian National University Masters of Management
QS Ranking 2024	34
Program Offered	Master of Management
Duration	2 years
Intakes	February and July
Program Fees	AUD 48,035
Top Recruiters	McKinsey & Company, Bain & Company, and Boston Consulting Group

University of Sydney

The University of Sydney offers Australia's top-ranked triple-accredited Master of Management program. No prior work experience is needed to apply to this program. With a hand-picked group of around 50 students, the program ensures you get personalized attention. You can benefit from the university’s close connections with industry partners like Deloitte, KPMG, PwC, and EY offering valuable networking and internship opportunities. The University of Sydney Business School's CEMS membership solidifies its top-tier global ranking in business education.

University of Sydney’s Master of Management
QS Ranking 2024	19
Program Offered	Master of Management
Duration	15 months
Intakes	January and June
Program Fees	49,500
Top Recruiters	Deloitte, EY, Google, IBM, NAB, Woolworths, Oracle

Monash University

Monash University's Master of Management (MMgmt) program is offered in full-time (18 months) and part-time (36 months) formats. The MMgmt program emphasizes real-world application, integrating data analytics and case studies into coursework. Monash University has an overall graduate employability rate of 88% within four months of graduation. The Monash University MMgmt program provides a data-driven education with a focus on practical skills and career preparation.

Monash University's Master of Management
QS Ranking 2024	42
Program Offered	Master of Management
Duration	1 to 1.5 years
Intakes	February and July
Program Fees	AUD 53,000
Top Recruiters	ANZ Bank, Commonwealth Bank, Westpac, Macquarie Group

Masters in Management in Australia: A Student’s Perspective Katherine, a recent graduate of Monash Business School's Master of Management program, shares: "Monash's MiM program provided a strong business foundation through practical learning and industry internships. As an engineering graduate, I sought a solid business foundation to advance my career. Monash's MiM program delivered precisely that. The highlight was the industry internship, where I gained hands-on experience at a top consulting firm. It clarified my career path and enhanced my resume. Now, as a Business Analyst at a tech startup, I credit the MiM program for my success. It equipped me with the skills to tackle complex challenges and contribute effectively to the organization's growth.”

Macquarie University

Macquarie University's Master of Management program is a top choice for postgraduate students seeking pre-experience management education. Ranked second in Australia and within the top 50 globally by QS, and in the Top 40 by The Economist, it offers a prestigious learning environment. Macquarie Graduate School of Management, AACSB-accredited, is a top choice for international students, ranking among Australia's premier MIM colleges.

Macquarie University's Master of Management
QS Ranking 2024	130
Program Offered	Master of Management
Duration	1 to 2 years
Intakes	19 February 2024 and 22 July 2024
Program Fees	AUD 43,200
Top Recruiters	Deloitte, PwC Australia, Macquarie Group, EY, Westpac

Programs for Masters in Management in Australia offer specialisations in Marketing, Economics, Accounting, Finance, and Analytics.

Check Out: Top Universities in Australia

Why opt for Masters in Management in Australia?

Masters in Management in Australia is one of the most well-known courses. Management is a fast-growing field with the need for management personnel increasing gradually. Here is why you should opt for MIM in Australia course -

Top Universities for Management in Australia: University of Melbourne, Australian National University, and University of Sydney (QS World University Rankings 2024)
Flexibility: Masters in Management in Australia is offered in full-time and part-time modes.
High-Paying Jobs: MIM graduates earn an average salary of AUD 94,000 AUD offering a great return on investment.
Top Recruiters: Some top employers of Masters of Management graduates in Australia are KPMG, Accenture, and Gartner.
Low Unemployment Rate: Australia's unemployment rate is 3.7%, indicating numerous job opportunities for graduates.

MIM in Australia programs offer immediate global exposure post-graduation, fostering a globally oriented approach through collaborations with business markets and networks.

Eligibility Criteria and Admission Requirements for MIM in Australia

MIM colleges in Australia have varying eligibility criteria as per their admission requirements. The admission process for the same is as explained below -

Masters in Management in Australia Eligibility Criteria

The eligibility criteria for Masters in Management in Australia depends on the specialisation.

Degree: A bachelor’s degree in Management or equivalent with at least 55% to 65% aggregate. A graduate certificate in Management with more than 65% aggregate is also acceptable.
Proof of English Proficiency:
- IELTS score: Overall 6.5 with at least a 6.0 score in each band.
- TOEFL score: 330
Entrance Exam:
- GMAT: 680
- GRE: 26.

Documents Required for Masters in Management in Australia

The following documents are required to be submitted at the time of application for Masters in Management in Australia:

Official transcripts of previous academic courses/programs
Australian student visa and copy of valid passport
Statement of Purpose (500-700 words)
Proof of prior work experience (if any)
1 professional and 2 academic LORs
An updated resume
GMAT or GRE scores
IELTS/TOEFL/PTE scores

Visa fees can range from AUD 575 to 650 based on the specific requirements.

Cost of Studying MIM in Australia

The cost of studying for a Masters in Management in Australia only includes the tuition fee of the universities and the travel and accommodation costs in Australia. The average annual tuition fees for Masters in Management in Australia ranges from INR 16,44 Lakhs to 38.37 Lakhs.

Tuition Fees for Masters in Management in Australia

The university-wise tuition costs for Masters in Management in Australia are mentioned as follows:

University	Annual Tuition Fee (AUD)	Annual Tuition Fee (INR)
University of Sydney	54,000	29.12 lakhs
Deakin University	31,400	16.93 lakhs
The University of Melbourne	34,816	18.77 lakhs
La Trobe University	40,400	21.78 lakhs
University of Technology Sydney	68,688	37.04 lakhs
University of Wollongong	50,544	27.25 lakhs
Australian National University	48,035	25.90 lakhs

Cost of Living in Australia

Australia is one of the costliest countries in the world, just behind the UK and the USA. The average living cost in Australia is 2,500 to 3,500 AUD (1.34 to 1.88 lakhs INR) per month.

Check Out: Cost of Living in Australia

Scholarships for MIM in Australia

Scholarships for Masters in Management in Australia cover up to 10,000 AUD (5.26 lakhs INR) -

Scholarships	University	Awards
Postgraduate Academic Excellence International Scholarship	University of Technology Sydney	25-35% off tuition fees
UTS Vice-Chancellor’s International Postgraduate Coursework Scholarship	University of Technology Sydney	Full tuition fees coverage
La Trobe International Scholarships	La Trobe University	25% reduction in tuition fees
La Trobe South Asia Excellence Scholarships	La Trobe University	30% reduction in tuition fees
Sydney International Student Award	University of Sydney	20% off tuition fees
ANU Postgraduate Accommodation Bursary	Australian National University	Residential allotment

Check Out: List of Popular Scholarships in Australia

Jobs after Studying MIM in Australia

MiM in Australia guarantees employment at some of the top companies in the world with excellent salaries. The average annual salary after Masters in Management in Australia is AUD 85,000 (INR 46 lakhs).

Job Roles	Annual Salary Range (AUD)	Equivalent Salary (INR)
Marketing Coordinator	57,000	30.74 lakhs
Event Manager	74,000	39.90 lakhs
Operations Manager	88,000	47.45 lakhs
Management Consultant	116,000	62.56 lakhs
Human Resources Coordinator	64,000	34.51 lakhs
Human Resources Manager	111,000	59.86 lakhs
Project Manager	91,000	49.07 lakhs
Procurement Manager	118,000	63.63 lakhs
Marketing Manager	95,000	51.23 lakhs
Marketing Specialist	64,000	34.51 lakhs

Work Permit

After completing your Masters in Management in Australia, you can apply for a Temporary Graduate visa (subclass 485) to work in the country.

This visa permits international students to reside and work in Australia for 2 to 4 years.
The visa application fee for this type of visa is AUD 1680.

Australian universities provide specializations within the management field including finance, marketing, human resource management, accounting, and business administration. A Master of Management in Australia can be a valuable investment for you if you are seeking to advance your business career in the field of management.

FAQs

Ques. Is a Masters in Management worth it in Australia?

Ans. Yes, as per the QS World University Rankings 2024, some of the top universities for MiM in Australia such as the University of Melbourne, Australian National University, and University of Sydney are among the top 100 universities in the world. Masters in Management in Australia is offered in both full-time and part-time modes. This enables individuals to work while studying the program. The top employers of Masters in Management graduates in Australia are renowned companies like KPMG, Accenture, Randstad, and Gartner.

Ques. Which university is best for a MIM in Australia?

Ans. Several globally ranked universities are situated in Australia for Master of Management such as The University of Adelaide, The University of Sydney, the University of Wollongong, Monash, etc. The University of Sydney is ranked #1 in Australia for its Master of Management program and #4 in the world for graduate employability.

Ques. What are the specialisations available in Master in Management in Australia?

Ans. Entrepreneurship and Innovation, International Business, Project Management, and Marketing are some of the specialisations for MIM in Australia.

Ques. Can I apply for a MIM in Australia without a bachelor’s degree in management?

Ans. Candidates who do not possess a bachelor’s degree in management can apply if they have a degree in any other stream or they have completed a Graduate Certificate program in management.

Ques. What is the average salary after Masters of Management degree in Australia?

Ans. After the completion of a Master's in Management in Australia, candidates may expect a salary ranging from 50,000-150,000 AUD (26.96-80.89 lakhs INR) per year.

Ques. What are the top recruiters after an MIM in Australia?

Ans. After completing a Master's in Management in Australia, candidates can get an offer letter from the leading companies of the world such as Telstra, Accenture, BPH Billiton, Westpac, GE Capital, and many more.