Top Business Schools in Australia: Check Fees, Eligibility, and Scope

Highlights:

• Universities: Melbourne Business School, Australian Graduate School of Management, and University of Sydney Business School are among the top 10 B-schools in Australia
• Admissions: A minimum IELTS score of 6.5 or equivalent is required to get into any university in Australia
  • For MBA, a minimum GMAT score of 550 is required by most of the universities
• Visa: A subclass 500 visa (Australian student visa) is required to study in Australia
• Cost of Living: On average, the cost of living in Australia is 231.0% higher than in India. A single person’s estimated monthly cost comes around 28,823 INR in India vs 92,466 INR in Australia

In the QS Global MBA rankings 2024, 16 Australian universities are featured as the best business schools. International student proportion has increased from 20-22% to 28-30% in the last few years in the best business schools in Australia like Melbourne Business School, and UQ Business School among others. To get into these universities, you need a minimum IELTS score of 6.5, or PTE score of 42 for English language proficiency. A minimum GMAT score of 550 is also required. Some of the top MBA universities in Australia include the following

International Student Data reported that the number of employed individuals in Australia is expected to grow from 13.7 million to 13.9 million in 2024. If you are planning to study abroad and Australia is your preferred destination, below are details of Business programs at undergraduate, postgraduate, and doctoral levels.

Benefits of Studying in Australia

Some of the reasons for choosing Australia to study abroad are as follows

• Scholarship benefits for international students
• Australian institutions offer a range of industry experiences to ensure that business students graduate ready for employment
• Many business courses get accreditation from prestigious authorities such as the Association to Advance Collegiate Schools of Business (AACSB), which means that you can gain employment anywhere in the world.
• Recent business and management graduates at the postgraduate level earning one of the highest salaries of any field at an average of 97,295 AUD.
• Graduates are able to stay in Australia to gain skilled work experience through a post-study work visa, a Skilled — Graduate (Temporary) Visa, the Employer Nomination Scheme or the Regional Sponsored Migration Scheme. Hence, a lot of migration opportunities are there

Top 10 Best Business Schools in Australia

Are you confused while choosing top MBA colleges in Australia due to the number of choices? According to the QS ranking, the following are the top business schools in Australia. Melbourne Business School is the best university for MBA in Australia, ranking #1 in Australia.

Best Business University in Australia for Postgraduate Programs

Masters in Business programs in Australia have strong connections with developing markets of South East Asia. A student can directly get the responsibility of project handling or strategic management under the supervisors within 3 months of completing their master's degree courses. Following are various postgraduate programs for international students offered by some of the best MBA colleges in Australia

Note: 1 AUD= 55.43 INR as of May 17, 2024

Top MBA Programs in Australia

A few top MBA specializations in Australia are mentioned below

• MBA in International Business
• MBA in Entrepreneurship
• MBA in Human Resource Management
• MBA in Marketing
• MBA in Finance

Eligibility for Best B-Schools in Australia for Masters

A student needs to apply through the online form in the university portal by the end of February. Some universities invite applications during July as well for the next semester. UNSW accepts the applications thrice a year: February, June, and September. The admission requirements are as follows

• Bachelor degree in the relevant field with a score of 75%
• GRE/ GMAT scores
• A major in mathematics or statistics
• Work experience with financial responsibilities (university-specific)
• ELP scores
• All the academic documents of bachelors, diploma and certificate courses
• Letter of recommendation
• SOP for MS in Australia
• CV
• Proof of work experience including the documents of project worked on (if applicable)

Top Business Universities in Australia for Undergraduate Programs

Bachelor's in business from Australia is very popular among international students who are willing to go for business development and business operations/management. A student with a bachelor's degree can earn 24% more salary than certificate or diploma holders. Following are some of the best business schools in Australia offering bachelor programs for international students:

Note: 1 AUD= 55.43 INR as of May 17, 2024

Eligibility for Undergraduate Programs in Best Business Uni in Australia

The start date of admission varies, but it is around February start to mid. For specific details, a student needs to check the university website thoroughly. The overall eligibility criteria for bachelor courses including the exams to study in Australia are stated below

• Studied English and Maths as compulsory subjects in the boards
• 75% or above score in the board finals
• Minimum IELTS score of 6.5 or TOEFL iBT 79
• PTE: 58
• Qualify the university-specific entrance exam (if any)
• Mark sheet and certificate from the board
• LOR
• SOP to study in Australia

Best Business Schools in Australia for Doctoral Programs

Students with a doctorate degree earn about 7-8% more salary compared to the master degree holders in different job sectors. The best business schools in Australia that offer doctorate degree are the following ones:

Note: 1 AUD= 55.43 INR as of May 17, 2024

Eligibility for Top B Schools in Australia for Doctoral Programs

The start date of application in the doctorate business courses is February in majority of the universities. There are a few colleges and universities with two or more sessions for the doctorate courses. Students can get admission in July there. However, Students willing for the doctorate degree in business should have the following

• Completed bachelor and master degree on the relevant field with 75%
• A double bachelor degree in a similar field
• 4 years bachelor degree with an upper second class score
• Qualifying score in exams to study in Australia
• Work experience with the ability to handle a project

Australian Student Visa

To be eligible to study in Australia, you need a subclass 500 student visa. The requirements for the visa are as follows

• Proof of English Proficiency
• Letter of Offer
• Confirmation of Enrolment (CoE)
• Genuine Temporary Entrant (GTE) Requirement
• Proof of Funds
• Overseas Student Health Cover (OSHC)
• Health Requirement
• Character Requirement

Job Outcomes of Best Business Schools in Australia

Among all the fields, business planning and business analytics seemed to receive the greatest hike of approximately 11% last year which is higher than most others. A business professional in Australia earns between 58,000 to 169,000 AUD per year in jobs in Australia based on the qualifications and experience of the candidate. Compared to a diploma holder, a candidate with a bachelor's degree is offered 24% more salary in Australia. With a master's degree, one can earn 29% more than a bachelor's and doctorates earn 23% more in the equivalent field. The presentation below shows the annual salary of business professionals in Australia according to their respective professions

Note: 1 AUD= 55.43 INR as of May 17, 2024

You can consider the aforementioned details while choosing any top MBA schools in Australia. There are some globally recognized and top-ranked good MBA colleges in Australia like Monash Business School, UQ Business School among others. More than 30% of international students in Australia study management and commerce courses. The employment in Financial and Insurance Services is likely to grow by 6.3% by 2026, with 33,200 extra jobs.

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