An MBA from a reputed university/ college can have a major beneficial impact on your career. After all it is one of the most popular courses in Australia. When you take the decision to pursue a Masters of Business Administration degree, you are actually getting into something that needs financial investment as well as investment of time. All in hope to achieve your higher goals and take a good leap in career. So, it better be a wise decision! And why not.
So, let’s explore the various factors to consider while aiming to pursue an MBA program in Australia and understand the various prospects open for you.
The first thing to do is definitely finding out and making the list of institutes offering an MBA. There are as many as 19 top universities in Australia that offer this course. Five out of them rank amongst the top 50 in the world for business studies, according to the QS World Rankings.
|
Ranking |
University |
|
14 |
The University of Melbourne |
|
22 |
The University of New South Wales |
|
29 |
Monash University |
|
31 |
The University of Sydney |
|
49 |
The Australian National University |
Just knowing the rankings is not enough. Just because a business school ranks on the top spot doesn’t mean that you should go for it. There are many factors that play a major role when it comes to finding an ideal fit. Let’s discuss 5 of the major ones:
1. What accreditations does the institute hold?
If you are looking to pursue an MBA, it will be foolish of you to not look out for and internationally recognised program. What makes it a reputed and recognised institution is the accreditation it holds.
There are 3 chief international accreditations:
- Association to Advance Collegiate Schools of Business (AACSB)
- European Quality Improvement System (EQUIS)
- Association of MBAs (AMBA)
While making your decision, check out if the business school has at least one or more of these international accreditations.
AACSB accredited Australian Universities
| Business School / University | Location |
| Faculty of Business, Bond University | Queensland |
| Curtin Business School, Curtin University | Western Australia |
| Faculty of Business and Law, Deakin University | Victoria |
| Griffith Business School, Griffith University | Queensland |
| Macquarie Graduate School of Management | New South Wales |
| Monash Business School, Monash University | Victoria |
| Queensland University of Technology | Queensland |
| The University of Adelaide | South Australia |
| University of Melbourne | Victoria |
| The University of Newcastle | New South Wales |
EQUIS accredited Australian Universities
| Business School / University | Location |
| Bond Business School, Bond University | Queensland |
| QUT Business School , Queensland University of Technology | Queensland |
| UQ Business School, University of Queensland | Queensland |
| Melbourne Business School, Faculty of Business and Economics, University of Melbourne | Victoria |
| Monash Business School, Monash University | Victoria |
| UniSA Business School, University of South Australia | Adelaide |
| Business School, The University of Western Australia | Perth |
| UNSW Business School, University of New South Wales Australia | New South Wales |
| University of Sydney Business School, University of Sydney Business School | Darlington NSW |
Source: https://www.efmd.org/accreditation-main/equis/accredited-schools
AMBA accredited Australian Universities
| Business School / University | Location |
| Monash Business School, Monash University | Victoria |
| Curtin Business School, Curtin University | Western Australia |
| Brisbane Graduate School of Business, Queensland University of Technology | Queensland |
2. Where is the campus located and what are the facilities available at the campus?
Australia boasts of being home to some of the top ranked liveable cities in the world. Including the quality of education, you must identify how easy it is to commute to the campus and about the travel facilities available. Check out the affordability of the city the campus is located in, according to your budget.
Look for the facilities like a well-equipped library, study space and internet facilities. Find out if there are any workshops being conducted or any other networking activities. A good MBA school has facilities to share materials, articles, journals and notes online. Do not neglect the career counselling and student support services.
3. How strong are the school’s industry network and ties?
Majority students aim to complete an MBA degree to ultimately land a good job. If your degree is from a recognised school, it most certainly would benefit you. However, it is even better if it has a well-connected network of industrial professionals, alumni or ties ups with major firms.
Having a strong network of alumni ensures that you have doors open to plenty of opportunities. You may be able to attend industrial events.
As far as the network with professionals, firms and other institutes is concerned, it most certainly is a major factor. It determines the level of research and type of learning being offered. Students can also be able to engage in exchange programs which is again a better opportunity to network and learn in new styles.
Also, direct partnerships and ties with companies and firms provide students the exposure to better salary packages and better designations.
Some of the universities where students are offered the highest gross salaries are:
| University | Average Salary |
| University of Queensland | $145,280 |
| Melbourne Business School | $120,310 |
| La Trobe Business School | $110,000 |
| University of New South Wales, AGSM | $99,771 |
| Queensland University of Technology | $99,300 |
4. What is the curriculum and course structure of the program offered including the types of specialisations?
The specialisation you opt for is going to decide the course of your career further. So, be wise in checking out the course contents and its structure, the different subject you will get to learn, the specialisations you can choose, practical studies related to it. On an average the MBA are a 2-year program but it depends upon your choice of subjects also. Some of the most sought after specialisations include:
- International Business
- Marketing
- Business Development
- Finance
- Data Analytics
- Operations Management
- IT
- Supply chain Management
- Human Resources
While deciding on your specialisation, do not miss out to look for a school that offers hands on practical training or case study based learning.
5. What are the entry requirements and eligibility criteria for admission?
Arguably the most important thing to be considered is the admission requirements. Most of the programs offered require work experience from 2-5 years in the relevant field or some business related work experience. As a part of application, you might also be asked to provide your Graduate Management Admissions Test (GMAT) scores. IELTS/ PTE/TOEFL scores are also needed to prove the English language proficiency and the minimum requirement is around 6.5 with 6 in each. Nevertheless, these may vary in different school.
Deciding to study MBA degree in Australia is indeed a wise decision given the facilities and returns. So, consider all of the above factors and make an informed choice.