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    Top Business Schools in Australia: Fees, Programs, Eligibility, Scholarships and Scope

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    Anam Shams

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    Australia is one of the top 5 most popular study destinations for international students. Quality of education, cultural diversity, high-end research opportunities along blooming career prospects has led to remarkable growth in the number of international students in the last few years. According to the International Student Enrollment Data, the count of international students in 2020 has reached 517,519 from 478,469 (in 2019).

    • A major portion of these students was enrolled in business schools in Australia. Also, the international student proportion in top b-schools of Australia like Melbourne Business School, UQ Business School had increased from 20-22% to 28-30% in 2019.
    • Moving on to the employment statistics, International Student Data reported that the number of international employees had a significant rise of 3.7% in 2019 in the field of business.
    • The global acceptance of Australian business degrees coupled with the moderate cost of living in Australia and the higher employment statistics make the business courses the most preferred courses among international students.

    If you are planning to study abroad and Australia is your preferred destination, below given are details of Business programs at undergraduate, postgraduate, and doctoral level:

    Top B-Schools in Australia

    One can be spoiled for choices when it comes to picking up colleges for higher education in Australia due to the number of choices available. Rankings can help narrow down university options.  According to the QS ranking, the following are the top business colleges in Australia. Check out the table to know the number of courses offered in these globally ranked business colleges:

    Name of the university  Global ranking  Courses offered 
    Melbourne Business School 26 6 master degree courses; 1 specialist master degree course; 1 graduate research degree;
    Part-Time MBA, Executive MBA, and Senior Executive MBA
    UNSW Business School 42 5 undergraduate degrees programs; 4 co-op bachelor degree programs; 10+ double Bachelor degree programs;
    3 honors degrees; 10+ graduate degree courses; 6 graduate certificate courses; 3 graduate diploma courses; 8 Ph. D. programs;
    Monash Business School 89 10 undergraduate degree course; 1 double degree program; 1 graduate certificate program;
    |1 graduate diploma program; 10+ graduate programs; 1 Executive MBA and 1 MBA program; 7 graduate research programs
    UQ Business School 129 6 executive courses; 1 MBA program; 5 bachelor programs; 2 honors courses;
    9 postgraduate programs; 6 graduate certificate courses; 2 graduate diploma courses; 1 Ph. D. program
    MGSM Macquarie University 137 10+ bachelor degree courses; 8 master degree programs;
    2 graduate certificate courses; 1 M.Res course; 1 Ph. D. degree; 1 M. Phil course

    It has to be noted that all these colleges have over 50% of international students and above 90% of the students, studying any master's degree course got employed post 3 months of the course completion.

    Business Schools in Australia: Specializations and Degree Type 

    A student can get so many specializations in business to select from in Australian universities that gives strong support in their career. Among all the specializations business courses, the following ones are the most preferred among international students:

    Specializations Specializations
    Business analytics  Business strategies development
    Global trade analysis Entrepreneurship
    International business communication Business Accounting (Financial accounting)
    Business Marketing - E-commerce Sustainability management
    Business valuation Business administration
    Supply Chain and Operation management Business planning
    Business Logistic Public relation and business development
    Consulting and Strategic Management Region Specific Specializations
    Resource and Environment Management Technology and Health Care Management
    Tourism/ Hospitality Management Transportation Management

    Business Schools in Australia: Undergraduate Programs

    Bachelor's in business from Australia is much popular among international students who are willing to go for business development and business operations/management. A student with a bachelor's degree can earn 24% more salary than certificate or diploma holders.

    Following are popular business colleges in Australia offering bachelors program:

    Course University  Duration  Tuition Fee per year (in AUD)
    Bachelor of Commerce with a Major in Business Information Systems MGSM Macquarie University 3 years  $37,500
    Bachelor of business Administration  MGSM Macquarie University 3 years $37,500
    Bachelor of Business Management (Honors) UQ Business School 1 year $42,272
    Bachelor of Business Administration Monash Business School 3 years $30,200
    Bachelor of Business Information Systems  La Trobe university 3 years $34200
    Bachelor of Commerce / Bachelor of Media (PR & Advertising) UNSW Business school 4-8 year  $41,100
    Bachelor of Business (Supply Chain Management) Flinders University 3 years  $31,500
    Bachelor of Commerce The University of Melbourne 3 Years $69,300

    BBA from Australia offers a job as a Marketing Communications Co-coordinator, Investment Banker, Data Analyst, Financial Adviser and lots of others.

    Duration of Undergraduate Programs in Business Schools of Australia

    Bachelors degree in Australia will occupy 3-4 years in general. A student can complete this within a duration of 6-8 years if required. However, the duration of the honors courses is 1 year.

    Fees and Scholarships for Undergraduate Programs in Business Schools of Australia

    Yearly fees of bachelors course in business ranges from 30,000 AUD to 42,000 AUD. There are government as well as university-specific scholarships for international students. These scholarship amounts are expected to reduce the tuition and accommodation charges to half!

    Admission Process for Undergraduate Programs in Business Schools of Australia

    Check the following sections thoroughly for admission requirements of popular Australian universities offering bachelors in business:

    Intake Season:

    The start date of admission varies, but it is around February start to mid. For specific details, a student needs to check the university website thoroughly.

    Eligibility Criteria:

    A student applying for the bachelor courses must have qualified the following Test to study in Australia

    • Studies English and maths as compulsory subjects in the boards.
    • 75% or above score in the board finals.
    • Qualifying or above marks in IELTS (6.5), TOEFL IBT (79), TOEFL PBT (570), Pearson’s (58), BE (4+), and CES (176).
    • Qualify the university-specific entrance exam.

    A diploma or a certificate holder will get the added advantage. In addition, the eligibility criteria vary depending on the universities the students opt for.

    Required Documents for Admission:

    Business Schools in Australia: Postgraduate Programs

    Masters in Business programs in Australia have strong connections with developing markets of South East Asia. They are competitive as well as they require a strong analytical background and often work experience. A student can directly get the responsibility of project handling or strategic management under the supervisors within 3 months of completing their master's degree courses. The salary of the Assistant Project managers has seen a hike in recent years from 18% to 26% (2017-2019).

    Following are the best postgraduate programs an international student can go for:

    Name of the course Name of the university  Duration of the course  Tuition fee per year (in AUD)
    Master of Business Analytics Melbourne Business School  1 year $ 55,000
    Master of Business Administration (Digital Transformation) University of Southern Queensland 1.5 year $29,840
    Master of Marketing Management University of Canberra 2 years $35,000
    Masters in Business Administration (Global) University of Newcastle 2 years $29,770
    Master of International Business/Master of international relations Griffith University 2 years  $31,500

    A student with an MBA from Australia is eligible for the Global Experiences Expo, Networking events, Wealth management analyst, Asset management trainee and more.

    Duration of Postgraduate Programs in Business Schools of Australia

    Most of the masters in business programs are of 1 to 2 year duration in Australia which is known for hosting a lot of international students. The master's degree programs in Australia are designed to be completed within a span of 2 years maximum. For the students willing for the past time master's degree programs, they have the opportunity to extend it to 2.5 years maximum.

    Fees and Scholarship for Postgraduate Programs in Business Schools of Australia

    The average fee of the master's degree courses varies based on the specializations.

    • In general, a student willing to complete a master's degree course in Australia needs to spend AUD $30,000-50,000 on an average a year.
    • Also, there are universities, offering more than one specializations (like applied finance, professional accounting, and information system) in the master's degree programs and naturally, the course fee and duration are much above compared to the rest.
    • There are university-specific scholarships for international students with academic excellence that bear the entire expense of the student including tuition fees, books, accommodation, medical and travel expenses.
    • The Department of Immigration and Border Protection issues financial requirements that a student must meet to acquire a Visa. The annual living cost in Australia comes around $19,830.

    Admission Process for Postgraduate Degree in Business Schools of Australia

    Admission requirements may vary, but to help the candidates, the following are the general guidelines.

    Intake Season:

    A student needs to apply through the online form in the university portal by the end of February. Some universities invite applications during July as well for the next semester. UNSW accepts the applications thrice a year: February, June, and September.

    It means a student has to plan and keep track of the university website to get enrolled in the desired program.

    Eligibility Criteria:

    A student needs to

    • Hold a bachelor degree in the relevant field with a score of 75% or up
    • Fulfill the university-specific entrance exam requirement
    • A major in mathematics or statistics
    • Work experience with financial responsibilities (university-specific)
    • Qualifying score in English language proficiency test just like the bachelors

    Required Documents:

    At the time of admission, a student needs to carry

    • All the academic documents of bachelors, diploma and certificate courses
    • Letter of recommendation
    • Statement of purpose for MS in Australia
    • CV
    • Proof of work experience including the documents of project worked on (if applicable)

    Business Schools in Australia: Doctoral Programs

    For students willing for the position of independent business professional or independent project manager, a doctorate degree is a must. They are welcomed with near about 7-8% more salary compared to the master degree holders in different job sectors. The best universities that offer the doctorate degree are the following ones:

    Name of the course Name of the university  Duration of the course  Tuition Fee per year (in AUD)
    Doctoral Program in Business Administration and Analytics Melbourne Business School  4 years (full time)  $37,952
    Doctor of Philosophy (PhD) Information Systems and Technology Management UNSW Business School 4 years $150,640
    Phd. in business and economics Monash Business School 3-4 years (full time) 6-8 years (part-time)  $32,100
    Doctor of Philosophy management and commerce UQ Business School 3-4 years $9,170
    Doctor of Philosophy (Ph. D.) MGSM Macquarie University 3 years  Funded by Government

    It is beyond mention that the doctorate business programs from Australian universities are worth shaping the career of the students largely with a satisfactory career at the end of the course. With the learning outcomes of project management, strategic management, business planning and a thorough idea of business analytics take the students some steps ahead to others.

    Candidates with a doctorate degree are eligible for handling projects solely in different MNCs.

    Duration of Doctoral Programs in Business Schools of Australia

    Duration of the doctorate courses in business is generally 3 to 4 years. It is based on the time needed to complete the research paper including the fieldwork.

    Fees and Scholarships for Doctoral Programs in Business Schools of Australia

    Yearly charges of the doctorate courses vary based on the specializations selected. Just like the master's degree courses, the annual course fee increases by 10-15% if a student chooses to complete the course in part-time. Generally, a student has to spend 30,000 AUD to 100,000 AUD to receive a doctorate degree.

    Australia has always been very lenient when it comes to education and all the universities mentioned above have different scholarships for international students.

    Admission Process for Doctoral Degree in Business Schools of Australia

    Check the following sections to be prepared for the admissions:

    Intake Season:

    The start date of application in the doctorate business courses is February in almost all the universities. There are a few colleges and universities with two or more sessions for the doctorate courses. Students can get admission in July there.

    Eligibility Criteria:

    Students willing for the doctorate degree in business should have:

    • Completed bachelor and master degree on the relevant field with 75% or above score

    Or

    • A double bachelor degree in a similar field

    Or

    • 4 years bachelor degree with an upper second class score
    • The ability to conduct independent research on the approved proposal
    • Qualifying score in English language proficiency tests
    • Work experience with the ability to handle a project

    Required Documents:

    During the admission, the students must carry

    • All the academic documents
    • Recommendation letter
    • Statement of purpose
    • CV
    • Certificate of work experience showing the evidence of project handling under a senior project manager
    • Approved proposal

    Scholarships for Business Schools of Australia

    The international students with academic excellence are given support from the Australian government as well as the top business colleges to continue their studies. Here are a few scholarships and loans for international students in Australia:

    Name of the scholarship Scholarship is given by Scholarship is given to Scholarship includes 
    Graduate Research Scholarship Melbourne Business School  International students pursuing any graduate research courses  Fee remission General allowance
    Monash Scholarship for Outstanding Achievement Monash University Top performers of any academic program Up to 32,500 AUD
    Monash Business School Undergraduate Scholarship-India Monash University 10 Indian students at undergraduate level 20,000 AUD
    The Destination Australia Program (DAP) Australian Government Internationals students to any Australian university Up to 15,000 AUD
    Australia Awards Scholarships Department of Foreign Affairs and Trade Students from developing countries especially Indo-Pacific region Tuition fees Travel fare
    Macquarie University International Scholarships Vice-chancellor of Macquarie University International students pursuing undergraduate or postgraduate degree Up to 10,000 AUD
    International Postgraduate Research Scholarships (IPRS) The government of Australia Postgraduate research students  Tuition fees All health expenses 

    Scope after Studying in Business Schools of Australia

    Any degree in business can be lucrative to candidates to achieve a satisfactory position in the 21st-century business market. Among all the fields, business planning and business analytics seemed to receive the greatest hike of approximately 11% last year which is higher than most others.

    A business professional in Australia earns 69,800 AUD to 163,000 AUD per year based on the qualification and experience of the candidate. Compared to a diploma holder, a candidate with a bachelor's degree is offered 24% more salary in Australia. With a master's degree, one can earn 29% more than the bachelor's and doctorates earn 23% more in the equivalent field.

    Checkout Work Visa requirements for international students in Australia

    In the cities like Brisbane, Gold coast, business professionals receive 112,000 AUD to 119,000 AUD salary on an average per annum. The table below shows the post wise annual salaries of the candidates:

    Designation  Average Annual Salary (in AUD)
    Business Development Manager $53,000-123,000
    Administrative Assistant  $29,000-56,000
    Business Analyst $87,000-142,000
    Account manager $77,000-120,000
    Business Operations Specialist $56,000-135,000
    Data Analyst $50,00-100000
    Customer service representative $28,000-53,000
    Finance Manager $62,000-138,000
    Operations manager $53,000-135,000
    Marketing Manager $50,000-112,000
    Project Manager $48,000-112,000
    Project engineer $60,000-124,000
    Practice manager $51,000-93,000

    The salary of the business professionals has seen a constant hike post 2015 and that too is not limited to only 5%. Qualified candidates have always received a decent salary in Australia that is also a reason behind the double-digit growth in the number of international students last year.

    Work Permit in Australia: International students on a valid visa can work upto 20 hours per week while session is ongoing.  There is no restrictions on the number of hours an international student can work during vacations.

    FAQs

    Ques. What are the English Langauge requirements for Business colleges of Australia?

    Ans. If you are a non-native English speaker, documentary evidence of meeting the accepted minimum scores within the previous 24 months may be required.

    The minimum acceptable scores are IELTS – 7.0 overall, with no band less than 6, TOEFL IBT – minimum score of 102, with a written score minimum of 24 and no individual score lower than 21 and PTE - English Academic PTE with a minimum score of 65 and no communicative skill below 65.

    Ques. Is GMAT necessary to take admission in Business schools of Australia?

    Ans. The GMAT is only mandatory for applicants to the Full-time Master of Business Administration (MBA).

    Ques. Do I need to submit my academic transcripts for admission in Business Schools of Australia?

    Ans. Yes, your academic transcripts must detail all the subjects undertaken throughout your degree as well as the results received for each subject. A graduation certificate/testamur is not sufficient.

    If your academic transcripts are in a language other than English, you are also required to submit a complete certified translation with the originals.

    Ques. Are references required to apply for MBA in Australia?

    Ans. Referees should be people of good standing who know you well; referees who have knowledge of you in a business environment are most useful. You do not necessarily need a reference from your current employer.

    Ques. What is the average salary of after BBA  in Australia?

    Ans. Average salary offered to a BBA graduate in Australia is AU$74,081.

    Ques. What is the salary offered offered after MBA in Australia?

    Ans. Average salary offered to a MBA graduate in Australia is AU$101,701.

    Ques. What are some popular employers in Business school of Australia?

    Ans. Westpac Banking Corp, AMP Capital Investors, The Valvoline Company, Commonwealth Bank of Australia, Marriot International Inc are popular companies hiring graduates from Business schools of Australia with an average salary offered of 69,000 to 190,000 AUD.

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