The Best MBA Programs in Australia – Head to Head (2022)
Written by Molly Ellison and Darren Joe. Photo courtesy of Paul Bica via Flickr.
Looking for the best full-time MBA programs in Australia? Here’s your ultimate guide! Compare Australia’s best MBA programs head-to-head and get the inside scoop from Admissions Directors from Australia’s best MBA programs.
last updated December 2021
Why Australia for your MBA?
1. Australia is perennially a top 5 destination worldwide for international students. Six of the seven Australian universities below are ranked top 60 in the world. Australia also has straightforward visa options for studying and working post-graduation.
2. On average, top Australian MBAs cost less than half of top US MBAs (61,500 USD vs $140,000 USD), and have smaller class sizes of about 30-50 students / year. Most last 12-18 months and award merit scholarships for top candidates outside Australia. Australian MBAs offer an interesting option for international students looking to broaden their horizons in Australia and the greater Asia Pacific Region at great ROI.
3. Australia was ranked the world’s third freest economy by the Heritage Foundation (2021) and is the 13th largest economy in the world. Over 600 multinational companies (MNCs) have a regional headquarters in Sydney and New South Wales. Melbourne also features a large number prominent local companies and MNCs. Other Asian business hubs, including Singapore, Hong Kong, and Bangkok, are 8-9 hours away by plane.
4. Australia’s cities are regularly heralded as some of the most livable in the world. Melbourne was ranked #1 for livability worldwide by the Economist from 2010-18, and Sydney, the financial and startup capital of the country, offers dozens of picturesque beaches.
Top Full-time Australian MBA Programs
The AGSM MBA and Melbourne MBA are the top-ranked MBA programs in Australia, ranking #79 and #87, respectively, in the Financial Times Global MBA Ranking (2021). Melbourne, Macquarie and Queensland finished #34, #41 and #47 in the Economist MBA Ranking (2021).
As rankings, location, ROI, and starting salary are the top criteria of our MBA audience, we’ve highlighted seven MBA programs that we believe you should consider in Australia. Six of the seven universities mentioned below have outstanding reputations too, placing top 60 in QS worldwide university rankings.
Melbourne Business School at The University of Melbourne
- Melbourne started its MBA program in 1963 and is the country’s oldest business school. A partnership between the private sector and the University of Melbourne, Australia’s leading companies own 55% of the school.
- Melbourne has consistently been ranked as one of the world’s top three most liveable cities by the Economist since 2002. Melbourne is regarded as Australia’s cultural capital, packed with art, music, bars and cares, and the state of Victoria contributes 23% of Australia’s total GDP.
- Melbourne’s 12-month MBA was ranked #21 globally for value for money by the Financial Times (2021), claiming the top spot for Australian MBAs
- Melbourne is the only Australian MBA program ranked by both the Financial Times and Economist
- Over half of the Class of 2018-20 landed jobs in consulting; other popular sectors include marketing, finance and analytics
Australian Graduate School of Management (AGSM) at University of New South Wales (UNSW)
- The Financial Times ranked AGSM as the #1 Australian MBA program in 2021
- Located in Sydney, the financial capital of Australia where 280+ MNCs have their regional offices, and the center of Australia’s start-up scene
- UNSW is known as a STEM powerhouse and is ranked 44th in the world by QS; it’s also the top university in Australia for graduating the most number of Founders and Fortune 500 CEOs
- AGSM has strong focus on disruption; graduates can get an MBA with a specialization in Technology, and graduate certificates in Technology Management and Digital Innovation
- AGSM has 90 Adjunct Professors working in industry who teach MBAs
- 70% of Full-time MBAs spend the final fourth quarter of the MBA studying abroad through PIM business school network; 80% of students do a 1-week intensive course abroad through GNAM business school network
Macquarie Graduate School of Management (MGSM) at Macquarie University
- The MGSM MBA was ranked #41 by the Economist (2021) and cracked the Financial Times Top 100 ranking in 2019 and 2020
- MGSM offers Australia’s most flexibile MBA with three campuses (North Ryde, Sydney, Hong Kong) and four start dates
- The North Ryde campus is located in the Macquarie Park Innovation District (MPID), which houses more than 300 global companies on 126 hectares of parkland
- Macquarie MBA graduates had the highest starting salary ($103,000 USD) among Australian MBAs that we could find; 94% of graduates were able to find a job within 3 months
Honorable Mentions
Other Australian MBA programs worth exploring:
- University of Queensland (Brisbane) – the 12-24 month University of Queensland (UQ) MBA was ranked 47th worldwide by the Economist in 2021. UQ students are older (38 years old, on average) and more experienced (13 years of average work experience) than those from other full-time Australian MBA programs. UQ MBA alumni have an average salary of $170,000 AUD and 77% of students change careers after graduation.
- Sydney Business School (Sydney) – the MBA program at Australia’s oldest university is triple accredited and lasts 18 months. The University of Sydney MBA ranked #1 in the Australian Financial Review’s last BOSS Ranking in 2019.
- Australian National University (Canberra) – Australia’s top-ranked university offers the world’s first “Evidence-Based management MBA” over 18 months
- Monash Business School (Caulfield) – The Monash MBA program offers a 2-year full-time MBA program that is triple accredited
Insider Interviews with Australian MBA Admissions Directors
Listen to our in-depth interviews about what makes each MBA program unique and what you can do to give yourself the best chance of getting in:
Touch MBA’s Admissions Advice
Get free school selection help and an expert profile review from Touch MBA.
Plus, get feedback from from AGSM MBA before you apply. Thank you AGSM for supporting Touch MBA’s mission to make expert MBA guidance accessible to applicants worldwide.
Post-MBA Careers in Australia
- Visa – Post-graduation, you can apply for a temporary graduate visa (Subclass 485), allowing you to work for anywhere from 18 months to 4 years.
- Taxes – If you study in Australia for more than six months, you may be regarded as an Australian resident for tax purposes and receive many of the tax benefits afforded by other residents and citizens. Australian residents pay 0 – 45% income taxes, depending on their income bracket. Foreign residents pay 32.5 – 45% income taxes, depending on their income bracket.
- Geography – More than 80% of full-time Australian MBAs stay in Australia to work.
- Industry – Consulting, finance, marketing, and technology goods are the leading sectors for recent MBA graduates.
- Return on Investment – Melbourne ranks #21 and AGSM #62 for value for money by Financial Times in 2021. The average cost of a top Australian MBA is less than half that of the top 25 US MBA programs, and most can be completed in 12 or 18 months.
Head to Head – Melbourne MBA vs. AGSM MBA vs. Macquarie MBA
Comparison table best viewed on bigger screen. Last updated December 2021.
| Melbourne | AGSM | Macquarie | |
|---|---|---|---|
| Degrees Offered | MBA | MBA | MBA |
| Class Size | 40 | 50 | 80 |
| GMAT (avg.) | 695 | 686 | N/A |
| Age (avg.) | 29 | 31 | N/A |
| Work exp. (avg.) | 6 | 8 | 10 |
| Class makeup (No. Nationalities) | 20 | 20 | N/A |
| Start Date | August | May | January April June September |
| Length | 12 - 24 months | 12 - 24 months | 18 - 24 months |
| RANKINGS | |||
| Financial Times 2021 (2020, 2019) | 87 (80, 61) | 79 (70, 88) | NR (97, 74) |
| The Economist 2021 (2019, 2018) | 34 (28, 23) | N/A | 41 (74, 79) |
| ADMISSIONS | |||
| Requirements | Bachelor's degree 2+ years of work experience GMAT/GRE score English language fluency | Bachelor's degree 2+ years of work experience GMAT (min 600 suggested) / GRE score (min Verbal 148; Quantitative 156; Overall 307 score for GRE) English language fluency | Bachelor's degree 3+ years of work experience English language fluency |
| Deadlines | Rd 1: 30 November Rd 2: 30 January Rd 3: 31 March Rd 4: 31 May *Rd 5: 30 June *Domestic applicants only | Rd 1: 1 August Rd 2: 1 September Rd 3: 1 October Rd 4: 1 November Rd 5: 1 December Rd 6: 1 February *Rd 7: 1 March *Domestic applicants only | 6 November (for January intake) 5 March (for April intake) 21 May (for June intake) 20 August (for September intake) |
| Application Fee | $0 AUD | $125 AUD | $0 AUD |
| Tuition *International student fees | $92,250 AUD | $78,480 AUD | $61,200 - 80,600 AUD* *Tuition depends on whether program is completed in 18 or 24 months |
| Est. Annual Living Costs | $1,700 AUD/month | $2,000-3,000 AUD/month | $1,700 AUD/month |
| Application Materials | Online application Proof of English fluency GMAT/GRE score 4 personal statements 2 references Resume/CV Copy of passport or birth certificate Official transcripts from past degrees/studies | Online application Proof of English fluency (iELTS or TOEFL) GMAT/GRE score 4 personal statements 2 references Resume/CV Copy of passport Official transcripts from past degrees/studies Video Interview Interview (by invitation) | Online application Proof of English fluency (iELTS or TOEFL) 1 personal statement video 2 references Resume/CV Official transcripts from past degrees/studies Recognition of Prior Learning Form Proof of residence via copy of passport, visa or birth certificate Scholarship Application Cover Sheet and personal statement (if interested) |
| International Opportunities | Optional international exchange with 50 partner schools in 23 countries | Optional international exchange with 28 partner schools Optional short-term study tours | N/A |
| Scholarships | 10 types of merit scholarships offered up to full tuition | 12 types of merit scholarships offered up to full tuition | 16 types of merit scholarships up to 30% of tuition |
| Location | Melbourne Melbourne has been dubbed the world's most livable city | Sydney Nearly 40% of “Sydneysiders” speak a language other than English in their homes. | Sydney (North Ryde) North Ryde is a Sydney suburb, 15 km from the city center. Hong Kong |
| PROGRAM | |||
| Core Curriculum | CORE (12) Leadership Data Analysis Managing People Managerial Economics Innovation Bootcamp Managerial Ethics and the Business Environment Financial Accounting Finance Marketing Operations Business Strategy Business in Complex Environments (Capstone) | CORE (8) Foundations of Management Accounting and Financial Management Corporate Finance Data Analytics and Decision Making Managing People and Organizations Marketing Management Entrepreneurship and Innovation Strategy | CORE (10) Accounting for Managers Marketing Management Business Strategy Finance for Managers Managerial Economics Managing People Leadership Practice & Development Negotiation: Theory & Practice Data and Business Analytics MBA Capstone Project |
| Electives | Students choose 6 electives from a variety of courses | Students choose 4 electives from 30 options | Students choose 6 electives from 20 options |
| Concentrations | No concentrations offered | MBA with specialization in Technology available, along with graduate certificates in Technology Management and Digital Innovation | No concentrations offered |
| CAREERS | Class of 2018-20 | Class of 2020 | Class of 2020 |
| Placement w/in 3 months (Financial Times) | 96% | 82% | 94% |
| Average Salary (Sign-On Bonus) | $91,214 $108,788 three years after graduation (Financial Times 2021) | N/A $108,376 three years after graduation (Financial Times 2021) | $103,575 $120,091 three years after graduation (Financial Times 2020) |
| Salary Increase (Financial Times) | 64% | 66% | 83% |
| Top Geographies | 86% Australia recent grads also working in New Zealand, China, Myanmar, Singapore and the United States | 88% Australia & New Zealand 5% Asia 5% Europe | N/A |
| Top Industries | 54% Consulting 9% Marketing 9% Finance 8% Analytics 5% Business Development | Consulting Consumer Goods Technology Finance (percentages not available) | N/A |
| Top Functions | N/A | Consulting General Management Sales & Business Development Product Management (percentages not available) | N/A |
| Alumni | 8,500 MBA alumni and 50,000 b-school school alumni around the globe. | 17,000+ AGSM alumni and 100,000+ UNSW Business School alumni globally. | 145,000+ graduates worldwide, with 16,500 living in 135 countries in the alumni network. |
Need More Help with Australian MBA Programs?
Get free school selection help and an expert profile review from Touch MBA.
Plus, get feedback from from AGSM MBA before you apply. Thank you AGSM for supporting Touch MBA’s mission to make expert MBA guidance accessible to applicants worldwide.