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Masters in International Business in Australia: An Overview

Komal Yadav Komal Yadav
Study Abroad Expert

Masters of International Business in Australia is a 2-year course designed to develop and expand the abilities and resources of business managers in the global business market. It offers the opportunity to obtain contemporary knowledge and skills required in modern international business organizations. 

  • Master of International Business includes topics such as multinational financial management and cross-cultural management. 
  • Annual tuition fees of universities offering Masters in International Business in Australia is between 28,000 AUD to 42,500 AUD.
  • This degree helps the students to gain an understanding of the way in which global businesses function, the challenges they face and the complex environments in which they operate.
  • GRE/GMAT scores are required to apply for a Masters in International Business in Australian universities.
  • The average salary after completion of Masters in International Business in Australia is 86,000 AUD per annum.

Why Study Masters in International Business in Australia

  • Masters in International Business from Australia is recognized internationally, with many universities gaining accreditation from prestigious authorities such as the Association to Advance Collegiate Schools of Business (AACSB).
  •  The Vocational Education and Training (VET) sector also offers practical courses in areas such as business, bookkeeping, and accounting to prepare students for the entrance exam of the universities.
  •  International graduates are able to stay in Australia to gain skilled work experience through a post-study work visa, a Skilled — Graduate (Temporary) visa, the Employer Nomination Scheme or the Regional Sponsored Migration Scheme.
  • Students with skills that are in demand (such as accountants, actuaries and business systems analysts) can also apply for permanent residency through the SkillSelect skilled migration program.
  • International students who graduate from accounting or business information systems degrees are able to apply for a professional year program providing work experience with an Australian company and increased opportunities to qualify for permanent residency in the country.

Top Universities offering Masters in International Business in Australia

Following are the top ranking universities offering Masters in International Business in Australia:

UniversityQS News Ranking 2020Program DurationAnnual Fees (in AUD)
University of Melbourne382 years42,580
University of Queensland471.5 years28,280
University of New Castle2071.5 years33,650
University of Wollongong2122 years21,880
Queensland University of Technology2241.5 - 2 years30,750
Macquarie University2372 years34,300
RMIT University2382 years35,000
Flinders University4242 years32,920
University of Canberra4842 years32,630
La Trobe University4002 years36,000

Course Curriculum of Masters in International Business in Australia

Master of International Business in USA is structured to provide the students with the perfect balance of theoretical coursework and practical experience. The program involves 3-4 semesters (12 subjects) of in-depth coursework studies.

First Year

  • Semester 1
    • Managing in the Global Context
    •  Economics and Finance for Business
    • Accounting for Business Decisions
    • Contemporary Marketing
  • Semester 2
    • International Finance
    • Contemporary Management Capabilities
    • International Trade and Logistics
    • Business Law and Governance

Second Year

  • Semester 1
    • Business Research
    • Multinational Corporations
    • Strategic Intelligence and Analytics
    • Elective Level 800
  • Semester 2
    • Work Integrated Learning Postgraduate

Admission Process of Masters in International Business in Australia

A bachelor's degree and GRE/GMAT score is required to apply for Masters in International Business in Australia. 

Admission Requirements for Masters in International Business in Australia

  • An undergraduate degree in any discipline, or equivalent.
  • A transcript of grades from each university attended, plus a translation if the original is not in English.
  • List of grades of the bachelor’s program with description and proofs of all relevant statistics courses followed.
  • A personal statement outlining why the student wishes to be considered for the course
  • Curriculum vitae
  • List of education, relevant extracurricular activities, internships and (professional) experience.
  • Letter of motivation
  • Official GMAT or GRE score report

English Proficiency Requirements for International Students

IELTS, TOEFL or other equivalent scores are required to apply for Masters in International Business in Australia. Minimum score requirement along with application deadlines of some of the top universities of Australia is tabulated below: 

UniversityMinimum English Proficiency RequirementApplication Deadline
University of MelbourneIELTS: 7.0;
TOEFL: 94
October 31
University of QueenslandIELTS: 6.5;
TOEFL: 87;
PTE: 64
May 31
Queensland University of TechnologyIELTS: 6.5;
TOEFL: 79;
PTE: 58
October 31
Macquarie UniversityIELTS: 6.5;
TOEFL: 83;
PTE: 58
February 07
University of WollongongIELTS: 6.5;
TOEFL: 86
January 31
Flinders UniversityIELTS: 6.5;
TOEFL: 79;
PTE: 58
February 17
University of New CastleIELTS: 6.5;
TOEFL: 90;
PTE: 60
October 05
RMIT UniversityIELTS: 6.5;
TOEFL: 79;
PTE: 58
September 30
University of CanberraIELTS: 6.5December 01
La Trobe UniversityIELTS: 6.0;
TOEFL: 64;
PTE: 50
September 01

Cost of Studying Masters in International Business in Australia

Cost of studying abroad can be divided into three categories: Pre-arrival Cost, Tuition Fees and Cost of Living. 

Pre-arrival Cost

It is tabulated below:

Type of ExpenseAmount (in AUD)
Australian Student Visa Fees606
Medical Insurance Fees106 - 120
Health Insurance450 - 600
TOEFL Fees245 - 380
PTE Fees280 - 300
Air Travel900 - 1000
Tuition fee of masters in International business in Asutrali

Cost of Living in Australia

An individual approximately needs 20,000 AUD each year to get by in Australia. The cost of living may differ depending on the residential location. Given below is an estimate of the costs associated with living in Australia:

Accommodation costs:

  • Hostels and guesthouses: 90 to 150 AUD per week
  • Shared rental: 85 to 215 AUD per week
  • On-campus: 90 to 280 AUD per week
  • Homestay: 235 to 325 AUD per week
  • Rental: 165 to 440 AUD per week

Other living expenses:

  • Groceries and eating out: 80 to 280 AUD per week
  • Gas and electricity: 35 to 140 AUD per week
  • Phone and Internet: 20 to 55 AUD per week
  • Public transport: 15 to 55 AUD per week
  • Car (ongoing cost): 150 to 260 AUD per week
  • Entertainment: 80 to 150 AUD per week

Scholarships after Masters in International Business in Australia

Following table provides a list of international scholarships in Australia offered by various universities: 

UniversityScholarshipAmount (in AUD)
University of QueenslandHASS Scholarship for Excellence - India6,872
University of MelbourneMelbourne Asian Development Bank- Japan ScholarshipVariable
Graduate Research Scholarships75,610
Macquarie UniversityMacquarie Indian Partner Arts ScholarshipVariable
MGSM ScholarshipVariable
Flinders UniversityGo Clean Scholarship3,500
University of NewcastleNewcastle International Excellence Scholarship40,141
South Asia Business and Law Scholarship8,273
Sydney Business School, University of WollongongGo Clean Scholarship3,500
Queensland University of TechnologyQUT International Merit ScholarshipVariable
RMIT TechnologyRMIT Research Stipend ScholarshipVariable
University of CanberraGo Clean Scholarship3,500
La Trobe UniversityLa Trobe College Excellence;
La Trobe India Scholarship
Variable

Scope after Masters in International Business in Australia

With a degree in Masters in International Business, one can seek work in different organizations. The degree helps to launch a career in multinational firms depending upon the area of specialization. According to The Good Universities Guide 2013, the salaries are also good with recent business and management graduates at the postgraduate level earning one of the highest salaries ie. 97,295 AUD per annum.

Some of the top recruiting companies are Accenture, Lucent, HSBC, Procter & Gamble, Britannic Assurance, Hewlett-Packard, Eurosport, Microsoft, McKinsey & Company, Capgemini, Ernst & Young, and Shanghai Bank. 

Popular jobs after the Masters in International Business in Australia are:

Job RoleAverage Annual Salary (in AUD)Estimated Growth
Management Analyst145,43814%
Marketing Manager228,21910%
Executive1846858%
Human Resources Manager130,0009%
Financial Analyst98,90011%
Economist180,7876%

International Business is a very in-demand field of today. Masters in international business opens up a variety of job opportunities in the business market. As masters is an in-depth course it teaches international business laws, marketing policies, marketing strategies, and international business trends. So it prepares an individual in various aspects. This helps in finding lucrative jobs at the senior level.

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