Masters in Business Analytics in Australia is a 2-year program costing 40,000 AUD to 77,000 AUD. The degree in business analytics equips a student with a combination of analytical skills for impactful business planning.
A steady increase in the demand of experts who can handle the amount of data which is being turned with every passing day in businesses, raises the need for gradautes of masters in business analytics. What makes Australia a study destination for business analytics aspirants has been discussed below in detail.
- Australian Universities accept applications twice a year: February and July. With many universities of Australia having their agents in various other countries, application to the universites is made easy for international students.
- The average salary earned by Business Analysts in Australia ranges between 56,100 - 161,000 AUD which is 15.27% higher than most jobs.
- Business Analysts are rewarded a bonus of 6-8% annually which is higher than 3-5% received by other professionals.
Why Study Masters in Business Analytics in Australia?
- Two of the most popular universities in the Australia rank gloablly for their masters of business analytics program, namely, University of Melbourne and LaTrobe University.
- Some of the Australian univeristies offering the program lie in the top tier for graduate employability as per QS employability rankings.
- The average payscale offered to skilled business analytics worker in Australia is three time more than the average payscale offered in the country.
- According to Gartner, the Business Analytics market in Australia has grown by 13.4% since 2017, which is round-about 1,468.20 million AUD.
- Business Analytics is a PR pathway course listed on the Medium and Long-term Strategic Skills list. The need of skilled workers in the field can help international students to make their way to country’s PR post completion of masters of business analytics in
Masters in Business Analytics in Australia: Top Universities
With the analytics industry on the grwoth, the demand of the professional program in business analytics is also on the rise. Catering to the increasing demand some of the globally ranking Australian Universities have incorporated maters in business analytics as one of major graduate degrees as a part of the courses offered. Here is the list of the universities offering masters of Business Analytics in Australia. The table also details the program duration and fees for these popular universities.
|Name of the Universities||National Rankings||Gradaute Employability Ranking||Program||Total Program Fees (AUD)|
|University of Melbourne||2||2||Master of Business Analytics (1 year)||55,000|
|Monash University||5||Master of Business Analytics (1.5-2 years)||70,000|
|University of Western Australia||7||-||Master of Business Analytics (1.5-2 years||77,200|
|University of Technology Sydney||9||6||Master of Business Analytics (1.5 year)||61,344|
|Macquirie University||13||10||Master of Business Analytics (1 year/1.5 year/2 year)||38,000 (for 1 year program)|
|Deakin University||18||-||Master of Business Analytics (1.5- 2 year)||70,000|
|La Trobe Univesity||22||-||Master of Business Analytics (1.5-2 years)||68,800|
|Bond University||23||-||Master of Business Data Analytics (1.5 years)||63,760|
|Western Sydney University||25||-||Master of Business Analytics (2 years)||63,640|
|Victoria University||28||-||Master of Business Analytics (varies)||14850/Semester**|
** The cost of the program will vary depending upon the choice of campus and program duration opted by the international student.
If you are interested in business analytics, data science and analytics is a related strem you might want to consider as well. Find out more about masters in data science in Australia, here
Masters in Business Analytics in Australia: Admissions
International students planning to study in Australia must ensure that apart from the university-specific eligibility criteria they are also requried the fulfill the minimum eligibility for pursuing masters degree in Australia. Some of the generic requriements an international student must be familiar with when applying for Australian universities are as follows:
- Applicants should have passed the undergraduate degree in Mathematics, Information Systems, Engineering, Computer Science, Physics, Economics or Finance. in some Australian universities like, Deakin University, if the applicant does not have a bachelors degree in relevant subject they can be accepted in the university if they fulfill the following criteria:
- Having relevant experience of at least 2 years.
- Certificate or Diploma program in business analytics completion prior to making applications for MS in business analytics in Australia.
- Applicants should have completed 3 years of undergraduate courses including basic theories on probability, regression analysis, and quantitative aptitude.
Masters in Business Analytics in Australia: Eligibility
Given below are the detailed admission requriements for pursuing masters of business analytics in Australia for the top universities offering the program.
|University||UG degree requirements||IELTS||TOEFL|
|University of Melbourne||65%||7.0||102|
|University of Western Australia*||60%||6.5||82|
|UTS||Degree in relevant subject||6.5||79-93|
|Macquirie University||B Grade or 55%||7.0||94|
|Deakin University||Degree in relevant subject||6.5||79|
|La Trobe University||Degree in relevant subject||6.5||
*Applicants may be requried to submit GMAT score, if the UG requriements are not fulfilled. The score requried is 550.
Documents Required for Masters of Business Analytics in Australia
Before joining the program, the students must submit the following documents for smooth application procedures. List of documents required for the course are
- Transcripts of the degree last achieved by the applicant
- Descriptions of the undergraduate course program
- Scores of exams requried to study in Australia, like IELTS, TOEFL
- Updates CV along with a cover letter
- Letters of recommendation may be requried by some of the universities
The applicants have to upload all the necessary documents on the official portal of the respective universities. After the shortlist of names, the applicant will receive mail on behalf of the university to acknowledge the confirmation letter. The applicant has to revert back after accepting the confirmation letter.
Documents Required for Visa Interview
International candidates are required to apply for a student visa to study in Australia. Here is the list of documents required for an Australian student visa interview for the international students to study master’s in Business Analytics
- Confirmation of Enrolment – The applicant should submit the confirmation letter sent to the selected student about the chosen program of study.
- Valid Passport- Minimum of 6 months validity is required for the passport
- Visa application fee- The applicant has to submit a fee of AUD 620 to submit the visa application.
- Academic or work experience documents (if required)
- Proof of funds- A minimum of 1-semester tuition fee and the flight tickets (to and fro) for Australia is required.
- Health insurance policy- The policy costs around AUD 438 annually for the international students to cover health insurance.
- Statement of purpose- This document shows how the students want to pursue a particular course of study and what will be its future endeavors.
- Passport size photographs
Masters in Business Analytics in Australia: Cost of Study
International student planning to study abroad must be familiar with the expenses he/she will suffer. Even though studying is relatively lo in comparison with other popular student destinations, yet for an international student it can cost them a fortune. Preparing oneself for the expenses and being aware of the same is an important of planning for studies abroad. The following sections discuss in brief the details of various types of expenses you will incur when planning your masters of business analytics in Australia.
Pre-arrival or Pre-admissions costs are mostly one-time expenses. Some of your major expenses pre-admissions are given below:
|Application Fee||50 – 100(university dependent)|
Master in Business Analytics in Australia: Tuition Fees
The tuition fees for pursuing masters of business analytics in Australia ranges between 40,000 AUD to 77,000 AUD. This is the total program fees range. The cheapest of the top universities include Victoria University and Macquirie University. However, the most expensive university for masters in business analytics in Australia include University of Western Australia, Monash University, and Deakin University. For an Indian student the overall cost of program will approximately range between 19 Lakhs to 37 Lakhs INR.
Cost of Living in Australia
The costs of studying masters of business analytics in Australia largely depends on the education provider and the study location. According to Australian Government requirements, students require 20,290 AUD annually on top of the university tuition fee to meet the living costs. It also suggests that an expense of 5 AUD to 440 AUD/week can be incurred for accommodation depending on the type and city. Some of the other living expenses in Australia are depicted below:
The average annual living costs for international students in Australia as of October 2019 are 21,041 AUD of which accommodation costs constitute major expenses. The table given below lists the costs for different student accommodation types in Australia.
|Accommodation Type||Monthly Cost (AUD)|
|Hotels & guesthouse||360 – 600|
|Shared Rental||380 – 860|
|On-campus||440 – 1120|
|Homestay||940 – 1300|
|Rental||740 – 1760|
|Boarding Schools||1000 – 1800|
Master in Business Analytics in Australia- Cost to Study vs Salary
Australia has 35 globally recognized universities. Getting a graduate degree from these renowned universities will be a costly experience. In the below-mentioned list, a wide detailing has been made between the tuition fees and the average salary per year.
As in the above-mentioned bar graph, it is shown that in most of the universities of Australia offer the graduates in masters of Business Analytics a good salary package from a range of AUD 49,000 to AUD 94,000 per year. So the Return on Investment in all these universities is higher in every respect. After the USA, Australia is one of the leading countries for economic growth in the global market.
Master in Business Analytics in Australia with Scholarships
The Australian government has invested approximately 300 million AUD in providing scholarships for international students. The need for financial aid arises due to the high tuition fees of Australian universities. There are a number of scholarships available for international students to study in Australia. Some of them have been mentioned below:
- Australia Awards Scholarships - These scholarships are available for full-time UG and PG international students
- Australia Government Research Training Program scholarships - These scholarships are available to students pursuing research doctorate programs or research masters programs in Australia.
A certain number of university-specific scholarships are also available at select higher study institutes in Australia. While planning masters of business analytics in Australia you can apply for the following scholarships to ease down the financia burder off you.
|Name of the Scholarship||University||Amount (AUD)|
|Donald Cochrane Scholarship||Monash University||10000|
|BP Australia Scholarship in Business Analytics||University of Melbourne||25000|
|Business School's International Scholarship||University of Sydney||20,000|
|Master of Artificial Intelligence Scholarship for Indian and Sri Lankan students||RMIT||50% off in tuition fees|
|Deakin alumni postgraduate bursary||Deakin University||15% off in tuition fees|
|VU International Excellence Scholarship||Victoria University||3000 for two study periods (first ones), 6000 for tuition fees|
|La Trobe College Excellence Scholarships||La Trobe University||25% off in tuition fees|
Masters in Business Analytics in Australia: Jobs
Business Analytics is considered one of the highest paid professions in the country. The growth rate from 2019 to 2024 is projected to be 20.2%.
- The average annual salary of a Business Analyst in Australia is 106,000 AUD.
- The rate of salary increment for business analysts in Australia is 13% for every 15 months.
- Almost 80% of the Business Analysts are paid a bonus, ranging between 6-8% of their annual salary.
International students studying Business Analytics at top colleges in Australia get an array of job opportunities in Australia after finishing any level of degree. Following table displays various job profiles with an approximate salary that a student can get post-study.
|Designations||Minimum Yearly Salaries (AUD)|
|Corporate Strategy Analyst||67,000|
|Senior Business Analyst||87,000|
|Business Improvement Analyst||55,000|
Top Recruiters and Job Profiles
Australia is quite famous among business analytics for its wide analytics firms. Business Analytics has become a newly evolved field that provides proper analytical reports to the organization and also the strategies required for the growth in the respective fields.
|Top Recruiters||Job Profiles|
|Covalense||Big Data Consultant|
|Analytics8||Financial Analyst, Senior Analyst|
|Altis Consulting||Data Scientist|
|Contexti||Data Scientist, Strategist|
|Internetrix||Augmented Data analyst|
|Integrated Business Technologies (IBT)||Data Management, Cloud ERP|
|Pernix||Data mining and interpretation|
|Diligent Global||Data Sourcing, Data Interpreter|
Apart from these above-mentioned companies, the graduate completing a masters of Business Analytics in Australia can upload their updated resume in top job portal sites like CareerOne, Adzuna, Seek, Indeed Australia, FlexCareers, GradConnection and many more.
Australia as a study destination for masters in business analytics is one of the best choices because the rise in demand of skilled labor has also resulted in various industry tie-ups with universities. Some of the popular ones include NVIDIA & Monash University, SAS Australia Collaborating with University of Melbourne, IBM Center of Excellence in Business Analytics located in Deakin University, and many more. This goes without saying that these collaborations will not only help in reducing the gap in demand and supply but will also be profitable for international students pursuing masters in business analytics in Australia
Ques. What are some of the best universities for pursuing masters of business analytics in Australia?
Ans. Some of the best universities for masters in business analytics in Australia include University of Melbourne, La Trobe University, Monash University, UTS, University of Western Australia, and others. Among these University of Melbourne and La Trobe University rank globally among the top universities offering master of business analytics as per QS Global Rankings.
Ques. What is the basic eligibility for pursuing masters in business analytics in Australia?
Ans. The basic eligibility for pursuing masters of business analytics in Australia requires international student to have a bachelors degree in relevant subject with minimum 55-65% score. Along with this you will be required IELTS score of 6.5 and TOEFL score of minimum 79.
Ques. How much does a masters of business analytics in Australia cost?
Ans. A masters in business analytics in Australia will cost anywhere around 40,000 AUD to 77,000 AUD. This for an Indian student will range from 19-37 Lakhs. This is the cost of the program, additionally cost of living will vary depending on many factors.
Ques. How much can a business analyst postgraduate earn in Australia?
Ans. The minimum an entry level business analyst can earn in Australia is 56,000 AUD. However, depending on your experience and knowledge of the field you can earn as much as 160,000 AUD per annum.
Ques. Is masters in business analytics in Australia available to students with a bachelors degree in a different subject?
Ans. Studying masters of business analytics in Australia does not require you to mandatorily have a bachelors in the same or relevant program. You can have a bachelors degree in a different subject along with relevant work experience and score admissions with popular Australian universities offering the program