An MBA or Masters of Business Administration (Masters in Business Administration) is one of the most popular Master’s courses in the world. This postgraduate qualification offers an array of career opportunities. In fact, some employers will only consider people with a masters degree for upper-management positions.
You can choose to focus on Marketing, Human Resources, Finance, Health Care, and other management fields. Australia has made it to the list of top 5 study destinations in the world.
Let’s look at some of the requirements for people who are considering studying for an MBA in Australia:
Australian Universities – MBA Admission Requirements
You must have at least a bachelor’s degree from a university that is recognized by the Australian authorities.
Level of English
If you are not a native English speaker, you will need to have already taken or be willing to take a TOEFL or IELTS exam.
- IELTS (International English Language Testing System) is an international standardised test of proficiency in the English language run jointly by IELTS Australia, the British Council, and Cambridge Assessment English.
- TOEFL (Test of English as a Foreign Language) is the US equivalent, which is run by ETS (Educational Testing Service), a private non-profit organization.
To be admitted for an MBA course in Australia, you need to show that you have a proficient level of the English language.
MBA courses are typically aimed at individuals who have already been working for a number of years. Universities will carefully consider your job description(s), functions, achievements, and responsibilities when deciding whether to admit couse applicants.
Any university worth its salt will need work and/or academic references. Before you start applying for courses, check that those you plan to include in your list are willing to provide a reference.
MBA in Australia
MBA courses in Australia last from fifteen to twenty-four months. The Melbourne Business School offers a Master of Business Administration course that lasts just twelve months. Completing a course in one year has many advantages, especially if your company is sponsoring your studies and wants you back as a full-time employee as soon as possible. However, you will need to be willing to commit many hours each week for study, assignments, projects, etc.
In most cases, students start their courses in the beginning of February or July. Some universities admit new students in November.
Studying for an MBA in Australia is a great career-building decision that requires a considerable financial investment. When calculating your budget, make sure you include course fees, books and material costs, travel expenses, accomodation, any necessary research work, and everyday living expenses.
Paying for your course
If you do not have enough money, consider the following options:
- Ask your employer to sponsor you. They may pay for the whole or part of the course. If they have specific career plans for you, i.e., they want to promote you one day, they may fund the whole thing, including travel, board and lodgings, etc.
- Apply for a loan. If your credit rating or credit history is not good, ask a relative to act as a guarantor, i.e., they will guarantee to pay off the loan if you unexpectedly cannot.
- Ask the university what scholarship programs they have.
- Apply to your country’s educational authorities for a grant.
Choosing a university
You will be staying either on campus or somewhere in town for a several months. Check out what the living quarters are like before committing yourself or paying a deposit. If accommodation is off-campus, how will you commute?
If you are going to give up at least one year of your life and significant funds to study abroad, you need to make sure that the university has excellent teaching standards. Try to find out how well former students did, and if possible, what effect it had on their job or career prospects.
There are many websites today that have league tables. Check them out.
Just like consumers today expect excellent customer support, you should expect the best International Student Support. Find out as much as you can from the University’s website and feedback forums where former students place their comments.
MBA courses do not all cost the same; their prices can vary considerably. Make sure that you can afford to pay for it. To afford does not only mean that you can pay for something, it also means that you have enough left over to manage comfortably.