MBA in Melbourne

Melbourne has some of the top MBA programs in Australia and the average salaries of MBA graduates from some universities in Melbourne are reported to be among the highest post-MBA salaries in Australia.

The city, or rather the state of Victoria, also has a strong economy that is larger than that of Singapore with a Gross State Product (GSP) of A$355.6 billion. It is home to leading companies, both Australian and foreign, and accounts for almost a quarter of Australia's economic activity.

Combine all that with the fact that it has been voted as the world's most liveable city for the fifth consecutive year and you can easily understand why Melbourne is considered a great place to pursue an MBA.

So, which are the best MBA programs in Melbourne? What are the average salaries of MBA graduates ? What are the most affordable MBAs in Melbourne?

We will give you answers to all those questions and much more in this article.

MBA in Melbourne

Let's start with the rankings. We've compiled a list of top MBAs in Melbourne along with their global ranking, tuition fees and duration.
University World Rank Cost/ Fees per year Duration
University of Melbourne 15 A$ 81,400 1
Monash University 32 A$ 32,700 2
RMIT University 51-100 A$ 36,480 2
Deakin University 101-150 A$ 33,000 2
La Trobe University 394 A$ 33,510 2
Swinburne University of Technology 501-550 A$ 26,130 2
Victoria University 601-650 A$ 25,400 2

The 'World Rank' column is based on the 2016 QS World Rankings by Subject for 'Business & Management Studies'

Admission requirements - GMAT and work experience

Do you have good GMAT scores?

If you do NOT then here's some great news for you. GMAT scores are mandatory for only one business school in that list - University of Melbourne. All the other universities consider applicants who do not have GMAT scores.

However, it is quite a different story when it comes to work experience. Most (not all) of these programs will require work experience and some will even require managerial work experience.

Additionally, if you are an international student then you might need to provide test scores from an English language test, such as, IELTS, TOEFL or PTE, for most of these programs.

MBA recognition, industry ties and salaries

As you can see, most of these MBAs are very highly ranked globally. In fact, three of them - University of Melbourne, Monash and RMIT - are ranked within the top 100 in the world for 'Business & Management Studies' in the 2016 QS World Rankings by Subject.

And there is more. The QS Top MBA Jobs & Salary Trends Report has shown that the average salaries of MBA graduates from three of these business schools, namely, Melbourne Business School, Monash University and La Trobe, are among the top 10 post-MBA salaries in Australia.

What are the reported average salaries after completing the MBA?

Well, according to the report, graduates from Melbourne Business School have an average salary of $120,310, graduates from Monash have an average salary of $85,000 and graduates from La Trobe have an average salary of $110,000.

Besides that, several of these business schools also have strong industry ties. For instance, RMIT partners with prestigious companies, such as, Telstra, Siemens and Prudential Investment Company of Australia (PICA) and provides its MBA students with direct links to the senior members of these partner organisations.

Most affordable MBA in Melbourne

While rankings and recognition are important, we also understand that costs are an important factor, especially for international students. Here's a list that is sorted on the basis of the annual tuition fees.

University World Rank Cost/ Fees per year Duration
Victoria University 601-650 A$ 25,400 2
Swinburne University of Technology 501-550 A$ 26,130 2
Monash University 32 A$ 32,700 2
Deakin University 101-150 A$ 33,000 2
La Trobe University 394 A$ 33,510 2
RMIT University 51-100 A$ 36,480 2
University of Melbourne 15 A$ 81,400 1

The 'World Rank' column is based on the 2016 QS World Rankings by Subject for 'Business & Management Studies'

Conclusion

Melbourne is a great place to pursue an MBA. Not only is it a vibrant city with a great environment for students to study, work and live in but it also has a strong economy and several top ranked Australian business schools are located here. In this article, we have provided you with an overview of the popular programs in this fantastic city and it should be a good starting for your research into business schools in this fantastic city. Good luck!

Do you need any further information? Or do you have any specific question that we did not cover in this article? Please fill out this enquiry form and we will get back to you.

Image credit: David Dusink/Flickr.com

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