Top MBA in Australia

The admission process is simple:
1. Application: There is no fee to apply, unless you are shortlisted. After shortlist, you pay AUD100. I personally liked this since most B-schools charge $100 for applying.
2. GMAT/GRE: You need to get a competitive GMAT score. For Indians, anything above 700 should be fine. The higher you go, the better scholarship you will receive. There is no specific GMAT cutoff. The admission also depends on factors like application round, academics, previous experience, etc. 3. IELTS/PTE: Need a 6.5 or above in IELTS. This is basically a hygiene check. Pro Tip: If you have a high GMAT verbal, you can ask for IELTS waiver from the university. Although, after an admit, you will need to give IELTS for the visa process.
4. Interview: A single round of interview with the career services. It was a pretty casual conversation with basic behaviourial questions. The call was focused on setting realistic expectations from the MBA.

The course was split in to 8 terms, with 4 terms in 1 year. The first 2 terms were the most demanding with maximum number of subjects. We had ongoing projects for 3 subjects at any given time. The fact that it was hectic, made it much more fun. Also, so many hours spent in work groups helped us make good friends in the first few weeks itself. The third term had 2 of the toughest subjects: operations and strategy. This is the last hectic term for most people. The curriculum was pretty practical and focused on real life learning. We also had a 1-month project with a real company as a part of the curriculum. This was useful because we got a chance to apply our learnings in real life and solve real business problems.

Most professors were great! Almost all lecturers had upwards of 10 years of industry and academic experience, along with a PhD. Faculty is one of spot-on the things about MBS. Professors come prepared, try very hard to not make the class boring (even organisation behaviour and leadership :p), and focus on real learning over book-ish knowledge. We did not have books at all. Most of the reading material was shared on Canvas (our LMS). There were pre-class readings and post-class assignments. Even if super busy, I will recommend skimming through the pre-class readings to be able to make sense of the class! Professors were approachable at all times and were always happy to help. They had fixed office hours, but were usually quick to reply on email. One major cultural shock for Indians was that we were supposed to call our professors by their first name! But this made our conversations much more engaging and candid.

The campus life can be what you make of it. There are weekly events happening followed by dinners and parties. Melbourne is the sports and food capital of Australia and it totally depends on the individual as to how much they wish to indulge. They are multiple student clubs in MBS. The application process is competitive for core clubs like consulting, marketing, etc. Other clubs are fairly easy to get into. There are a lot of Indians in Australia and Indians made up approximately 15-20% of the total students in University of Melbourne & MBS. We had free access to the sports facility and Gym. Medical clinic was also free to access, as part of the mandatory medical insurance (around AUD1500) that we purchased before the start of the program. The consulting club, marketing club, and business analytics club were the most active and sought after one. Sports clubs (football, handball, etc) obviously had their own loyal following.

Unlike India, companies do not come to campus to hire. However, some consulting firms come to campus as a part of their recruitment drive. Some of the biggest employers are Bain, McKinsey, Big 4, Loreal, etc. The average package for Indian students with non-consulting experience is usually around AUD120K. But there are people who enter the workforce with a AUD200K+ package as well. The primary way to get a job or an internship is to network with batchmates, alums and part-time MBA students. Show up to networking events, company presentations, and club activities. The career services will also help you prepare your resume and assist you with interview prep.

I opted for student accomodation (Scape and Unilodge) right next to the university. These were within walking distance of MBS, right in the heart of the city. To get into these student accomodations you must be a student at the time of applying. I had to fill an online form and submit my admission documents. Most of the process was done within 2 weeks. Along with the rent, you also have to pay a one-time refundable security deposit equivalent to 4 weeks of rent. You also have to enter into a 6 month or 12 month contract. These accomodations were expensive amounting to nearly $400 per week, inclusive of utilities. This did not include meals. One could get cheaper accomodations as they move outside the city. A private room in a shared apartment was usually 180-250 AUD. 2/3 BHK flats in the outer suburbs were cheaper but were very difficult to rent for international students.

The tuition fee was around AUD100K, which is roughly INR 55 lakhs. However, most Indian students got 50% scholarship. So, the tuition fee came around 30-ish lakhs, which is comparable to top Indian MBAs. Education loans are easily available from most banks, with a collateral. The payment of tuition fee was per subject. Since, 50% of the total subjects were taught in the first 6 months, most of the tuition fee was paid in the first 6 months itself. Apart from tuition, there were no other major academic expenses. Melbourne is a pretty expensive city to live in. The living expenses were pretty high and came out to about AUD 20K for 2 years. This however can vary with students and their lifestyle.

In received the MBS scholarship. For this particular scholarship, I did not have to apply. Every student is considered for this scholarship if they are admitted into the program. There were other scholarships as well which required applications. However, as far as I recall, you can't combine scholarships. IMPORTANT: THE DEADLINE FOR THESE SCHOLARSHIPS IS USUALLY THE END OF ROUND 1 (November). GMAT is the biggest criteria for getting the MBS Scholarship. Higher scores ensure better scholarship. If your profile is good and if you have other offers, you can easily negotiate for a bigger scholarship.