Masters in Business Analytics in Australia

Masters in Business Analytics in Australia

Masters in Business Analytics and related programs are becoming increasingly popular in Australia with recent news reports indicating that data analysts who have business know-how are in such great demand in Australia and their numbers are so low that their salary is almost three times Australia's average salary.

In fact, the recent Skills and Salary Survey conducted by the Institute of Analytics Professionals of Australia (IAPA) found that the average salary of data scientists who work in social media in Australia is $190,000 per year. This gives you an indication of the wide scope of employment opportunities available to graduates of Analytics / Data Science programs in Australia.

Given this scenario, it is no wonder that the Master of Business Analytics and related programs are offered by several top ranked Australian universities.

Here's what we will be going over today:

Top universities that offer the Masters in Business Analytics in Australia

University Program Rank* Cost/ Fees per year Years Location
Monash University Master of Data Science 53 A$ 36000 2 Melbourne
University of Melbourne Master of Business Analytics 56 A$ 49500 1 Melbourne
University of Sydney Master of Data Science 73 A$ 36500 1 Sydney
RMIT University Master of Analytics 79 A$ 25920 2 Melbourne
Queensland University of Technology (QUT) Master of Information Technology (Data Science) 103 A$ 26400 2 Brisbane
University of Technology Sydney (UTS) Master of Data Science 109 A$ 32540 2 Sydney
University of South Australia Master of Data Science 182 A$ 31500 2 Adelaide
Deakin University Master of Business Analytics 215 A$ 45000 1.5 Melbourne
Deakin University MIS (Business Analytics) 215 A$ 28520 2 Melbourne
La Trobe University Master of Business Analytics - A$ 28460 2 Melbourne
Victoria University Master of Business Analytics - A$ 23000 2 Melbourne

* The 'Ranking' refers to the 2015-2016 Times Higher Education Subject ranking for 'Engineering & Technology'. Wherever the Times Higher Education Subject ranking is not available the QS Faculty ranking for 'Engineering & Technology' is used.

However, here's the thing: Rankings are definitely not the only thing you should consider while choosing a university.

What else should you consider?

1. Which programs will allow you to stay on and work in Australia?

Firstly, if you are an international student and you plan to work in Australia or would even like the option of working in Australia on completion of the course then you need to ensure that you pick a course that meets the eligibility criteria for a post study work visa.

One of the most common criteria that students fail to take into consideration is the need to have at least two years of academic study in Australia at the Bachelors level or above in order to be eligible for the post study work visa.

As you can see from the table above, some of the top ranked Masters in Business Analytics programs are 1 year programs and international students will NOT meet the eligibility criteria for the post study work visa in Australia if they complete only a 1 year Masters program.

A detailed explanation of the eligibility criteria is available in our 'Guide to Post Study Work Visas in Australia' and you can read it here.

Sponsored

2. Industry ties offered by the University

Given the high demand for Analytics graduates, companies and even Government organisations are working with universities to set up courses, laboratories and data analytics centres. These partnerships provide a whole host of benefits to students ranging from greater work placements to easy access to the latest technology and cutting edge research. Some of the popular industry-university partnerships in the analytics field are highlighted below:

NVIDIA and Monash are collaborating to fund research students and provide them with industry relevant knowledge and access to technology. The heart of this collaboration is the M3 supercomputer, available through MASSIVE, a facility designed to process complex data and developed as part of a collaboration between the Australian Synchrotron, Monash University and CSIRO.

SAS Australia, a leading provider of business analytics software and services, has entered into a collaboration with University of Melbourne for research and to launch the Master of Business Analytics program at the university.

SAS Australia has also entered into an agreement with La Trobe University to launch the Masters in Business Analytics program and establish the SAS Analytics Innovation Lab at La Trobe University. La Trobe has had a relationship with SAS since 2007 with the company providing work placements, sometimes at SAS itself but more often with the company's customers, as well as scholarships, technology and support for teaching and research.

RMIT University has opened a AU$1.5 million data analytics lab in collaboration with National ICT Australia (NICTA), the information and communications technology research centre of Australia. This joint initiative builds on the university's collaborations with organisations like Google and ANZ.

The first Centre of Excellence in Business Analytics in Australia, the IBM Centre of Excellence in Business Analytics is located in Deakin University and plays an important role in Deakin's new program in Business Analytics. The centre gives Deakin students access to IBM's Analytics certification programs, technology and tools and helps in developing much needed business analytics skills.

The New South Wales Government's data analytics centre will be hosted by the University of Technology Sydney (UTS). This is the first whole-of-government data analytics centre in Australia and will be hosted at the UTS Data Arena.

Sponsored

3. Affordability of the program and costs

And finally we come to affordability of the program, a key deciding factor for many students. Fortunately, this is a fairly straightforward aspect and does not require much analysis so we have just sorted the list provided earlier on the basis of annual tuition fees.

Most affordable universities for the Masters in Business Analytics in Australia

University Program Rank* Cost/ Fees per year Years Location
Victoria University Master of Business Analytics - A$ 23000 2 Melbourne
RMIT University Master of Analytics 79 A$ 25920 2 Melbourne
Queensland University of Technology (QUT) Master of Information Technology (Data Science) 103 A$ 26400 2 Brisbane
La Trobe University Master of Business Analytics - A$ 28460 2 Melbourne
Deakin University MIS (Business Analytics) 215 A$ 28520 2 Melbourne
University of South Australia Master of Data Science 182 A$ 31500 2 Adelaide
University of Technology Sydney (UTS) Master of Data Science 109 A$ 32540 2 Sydney
Monash University Master of Data Science 53 A$ 36000 2 Melbourne
University of Sydney Master of Data Science 73 A$ 36500 1 Sydney
Deakin University Master of Business Analytics 215 A$ 45000 1.5 Melbourne
University of Melbourne Master of Business Analytics 56 A$ 49500 1 Melbourne

* The 'Ranking' refers to the 2015 Times Higher Education Subject ranking. Wherever the Times Higher Education Subject ranking is not available the QS Faculty ranking is used.

Conclusion

The Analytics industry is growing exponentially in Australia and graduates of the Masters in Business Analytics are highly sought after. However, selecting the right Australian university is not easy. Multiple factors need to be taken into account - rankings, visa regulations, industry ties, costs and more.

Hopefully, this article has helped you in the decision making process.

Need more information? Have a specific question that we did not cover?

Fill out this enquiry form and we will get back to within 24 hours!