Top universities for MBA in Australia

The Financial Times has recently published their 'Global MBA Rankings 2016' and leading Australian business schools are on the list. We find this ranking system particularly useful as it lists not only the rankings but also concrete data, such as, the percentage of graduates who have jobs after completing their MBA and salaries of MBA graduates in Australia.

Top Australian Universities for MBA

In this year's rankings, the top Australian business school was Macquarie Graduate School of Management (MGSM) from Macquarie University with a worldwide rank of 56. Australian Graduate School of Management (AGSM) from University of New South Wales (UNSW) came in 2nd at 66 and Melbourne Business School came in 3rd at 87.

Here are some more details from the report including placement figures and post MBA salaries in Australia.

#1 Macquarie University - Macquarie Graduate School of Management (MGSM)

Australia rank in 2016: 1 World rank in 2016: 56
Salary today: US$ 126,736 % employed at 3 months: 91
Cost / tuition fees: A$ 76,000 Course duration: 1 - 2 years
Location: Sydney Intakes: January, April, June, September

Source: Financial Times, Global MBA Ranking 2016. Retrieved from: http://rankings.ft.com/businessschoolrankings/global-mba-ranking-2016

Admission requirements

Does the university require work experience?

Yes, you need a recognised undergraduate degree and at least two years of professional or managerial work experience.

If you don't have a recognised undergraduate degree but you are an experienced manager (with a minimum of 5 years of managerial work experience) then you can enter the MBA course by successfully completing the Graduate Certificate and the Graduate Diploma.

Does the university require a GMAT score?

No, Macquarie University does not list the GMAT as one of the entry requirements and you can apply for the MBA without GMAT.

Things to note

If you are an Indian student then you should know that you are eligible for a post study work permit in Australia if you complete an MBA that meets certain criteria. We've compiled a simple, detailed guide for the eligibility criteria and you can read it here.

Secondly, you should note that the salaries mentioned in the tables are in US dollars while the tuition fees for the Australian colleges are in Australian dollars. Currently, 1 US dollar is equal to 1.36 Australian dollars.

And finally, the 'Salary today' is taken from the Global MBA Ranking 2016 and refers to the average salary of alumni three years after they graduate.


#2 University of New South Wales (UNSW) - Australian Graduate School of Management (AGSM)

Australia rank in 2016: 2 World rank in 2016: 66
Salary today: US$ 109,273 % employed at 3 months: 85
Cost / tuition fees for MBA: A$ 75,840 Course duration: 16 - 24 months
Location: Sydney Intakes: January

Source: Financial Times, Global MBA Ranking 2016. Retrieved from: http://rankings.ft.com/businessschoolrankings/global-mba-ranking-2016

Admission requirements

Does the university require work experience?

Yes, if you have a recognised undergraduate degree then you need at least 2 years managerial or professional work experience. We would like to point out that this is the minimum requirement and does not guarantee you admission into the MBA program. In fact, current students have an average of 6-8 years of work experience.

If you do not have a recognised undergraduate degree then you need to have at least of 6 years of professional work experience.

Does the university require GMAT?

Yes, you need a minimum overall GMAT score of 550 with at least 25 in verbal, 35 in quantitative and AWA 4.0. Again, this is the minimum criteria and does not guarantee admission. The average score of current MBA students is 660.


#3 University of Melbourne - Melbourne Business School

Australia rank in 2016: 3 World rank in 2016: 87
Salary today: US$ 95,356 % employed at 3 months: 93
Cost / tuition fees for MBA: A$ 85,470* Course duration: 1 year
Location: Melbourne Intakes: February, July

Source: Financial Times, Global MBA Ranking 2016. Retrieved from: http://rankings.ft.com/businessschoolrankings/global-mba-ranking-2016

*This is the indicative fee for 2017 whereas the fees shown for UNSW and Macquarie are the fees for 2016.

Does the university require work experience?

Yes, students need a minimum of two years of work experience.

Does the university require GMAT?

Yes. The university does not publish any definitive cut-offs for the GMAT score but it might be helpful for you to know that the average score for recent students is 680 or higher.


Conclusion

Currently, Macquarie University, University of New South Wales and University of Melbourne are the only three Australian universities on the Financial Times list. If you are looking for a more comprehensive list of top Australian business schools then go here.

Do you have need any further information? Please fill out this enquiry form and we will get back to you.

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