MBA IN AUSTRALIA

1>MBA Australia - Overview

An Australian MBA taken full-time, part-time or online could be the most significant step you will take in the development of your career along with making a major contribution to your personal growth. This guide has been developed to make it easy to determine which MBA in Australia most closely meets your study requirements.

The MBA Australia has been designed for people who want to learn about business and management across many different disciplines. The Australian MBA has developed with a focus on the practical application of study and this has made the degree highly prized locally, in the Asia-Pacific region, and internationally.

Although there are variations among the many MBA courses on offer, the Australian Master of Business Administration programs can be characterised as providing:
·Business schools that have introduced and emphasise courses that offer basic skills and tools necessary for problem solving in the business environment
·A wide range of theoretical approaches including economics, measurement, governance, psychology, human behaviour, and leadership
·The ability for students to integrate their learning and apply multiple disciplines in their employment or business situation
·The opportunity to explore courses outside the main business programs such as microeconomics, competitive dynamics, and statistics
·A differentiated MBA product so that every employment and business requirement can be catered for.
All business schools in Australia work closely with business, industry, and government, and consult with current, past, and prospective students, to make sure they offer a curriculum that is both relevant and useful. Search this guide for an idea about the wide range of MBA programs available and find the ones that match your own particular set of requirements.

2>Application Procedure                                                                  TOP

This section explains the requirements and process of applying to Australian Business Schools for the MBA Degree Programs.

    Application Forms

    Application Requirements

       1. Academic Records
       2. Standardized Tests
       3. Work History
       4. Letters of Recommendation
       5. Personal Essays

Application Forms

Send enquiries at least 12 months before the proposed date of admission. There are three ways to get application forms.

   1. Requesting Application Forms via email : You can request application forms from the universities website. Most universities have a form on their website which can be completed online to request application material.
   2. Downloading from the university website : Many universities have a downloadable and ready to print versions of their application forms on the net. These can be used for applying just as regular forms.

Academic Records

Full details of your education including your course subjects and grades are required in the applications. Transcripts or official records of your previous academic qualifications are crucial for your application.

      Standard X Marksheet

      Standard XII Marksheet

      Bachelor Degree / Provisional Certificate with marklists

Students applying for admission are required to submit an official transcript from each college or university that they have attended after secondary school with complete details of the subjects, credits involved and other details like correspondence courses, diplomas etc.

If the originals are not in English, copies and a good English translation must be enclosed. Please ensure all the copies of these documents are attested.
Standardized Tests

English Proficiency

IELTS : For most courses and universities, International students are required to take   IELTS (International English Language Test) which is regularly administered by the British Council. Some universities may accept TOEFL as an alternative.

Letter from Institution : Some Universities may waive IELTS/TOEFL if you can get a letter from institution that you have last studied in mentioning that you have been studying in English medium throughout and they are convinced that you are proficient in English.

Other Tests

GMAT : Most universities accept GMAT scores. However, This is not a requirement for admission in most universities.
Work History

Most universities require a minimum of 2 to 3 years of experience for admission to the MBA program. Most Australian universities are pretty strict about this.

A detailed Résumé is an important part of your application. It should include all information of professional work experience along with the details like positions held, achievements and range of work.
Find Resumes a problem? Check out our Resume section for tips

Letters of Recommendation

Letters of reference or recommendation letters play a very important part in your admission. A recommendation letter is a signed statement from a person who knows you well professionally or has taught you in a subject that is related to the course you are applying to. It should list your positive and negative qualities, strengths and other such information. The author or teacher must indicate his position, how long he/she has known the applicant and in what capacity. He/she should briefly discuss the need, importance and usefulness of the study the applicant proposes to undertake. Authors are usually asked to rank applicants in their letters of recommendation, which helps admission officers to interpret the academic credentials of foreign students. Students should obtain letters of recommendation (often on the prescribed forms sent by the institutions) from teachers who know them as a person as well as a student. You may like to request your author to give concrete examples that may show your qualities and help your case.

Many universities have their own format and questions that have to be answered by the person who is giving the letter of recommendation on your behalf. Letters, which do not give enough information, can jeopardize a candidate’s chances of selection.

Note: Even if not mentioned, it is advisable to include at least two letters of recommendation in your applications as they increase your chances of getting admissions.
For more details on letters of recommendation, formats and tips, check out Letters of Recommendation

Personal Essays

The personal essays, and/or statement of purpose, also play a very important role in the process of evaluating your application for both admission as well as financial aid because it gives the faculty assessing your application their most significant impression of you as an individual.

A personal statement should include reasons for choosing this particular course, your area of interest, the suitability of your education and experiential background for this course and your personal and present future goals.

3>MBA Australia MBA Entry Requirements TOP
Although most of the MBA in Australia have a requirement that all applicants have a certain amount of work experience, there are many that allow for alternative modes of entry into the full Master of Business Administration program.

In particular, a number of the Australian business schools offer graduate certificate and graduate diploma programs that give the student the opportunity to prove that they have the maturity and the academic capacity to manage the full MBA program.

Entry requirements for these graduate certificate programs and graduate diploma programs are more flexible than for the full MBA program. It is a great way for students to get started on the postgraduate program and for the business schools to evaluate the students' capabilities.

Click on the link for a selection of MBA programs that either have alternative entry paths or do not have a strict prior work experience requirement.

Alternative Entry Requirements
The Australian MBA is offered with a number of alternative entry requirements. This list is a selection of programs that may under certain circumstances waiver the work experience requirement and/or allow for entry through graduate certificate and graduate diploma programs

Australian Catholic University Faculty of Arts and Sciences

Bond University School of Business

Curtin University of Technology Curtin Business School

Flinders University School of Commerce

Griffith University Graduate School of Management

Southern Cross University Graduate College of Management

University of Ballarat School of Business

4>Financial Aid & Scholarships                                                     TOP

Financial Aid for an MBA in Australia is very difficult. You will have to arrange your own funds and if your parents have that kind of money - go ahead.

Some universities may give students with good or exceptional backgrounds, a part tuition fee waiver.

In our opinion, there are not very many scholarship options available for an MBA in the Australia. Almost all students who go for an MBA in Australia fund the related expenses on their own.

For Bank Loans and Financial assistance available in your home country,

Postgraduate Aid

Postgraduate students have to indicate their requirement for financial aid at the time of filling in the application form.The different types of financial help available:

Types of Assistance

Merit based assistance is awarded in many forms, from tuition waivers, various types of assistantships, to fellowships. The most common are listed here :

   1.

      Tuition Waiver : This means that the student does not have to pay the tuition fees at the university. However, general fees (for the use of university facilities like the library, computers, and sports and health services) usually have to be borne by the student. A tuition waiver is frequently awarded in conjunction with a scholarship or teaching/research assistantship.
   2.

      Scholarship / Fellowship : This is usually an outright grant based on the student’s academic ability and performance. Hence, Only a truly outstanding student may be considered for this type of award, before enrolling at the university. A full scholarship would pay for a student’s entire living expenses at that university, whereas a partial scholarship would require additional funds from the student.
   3.

      Assistantship : Most students who receive assistance usually do so in the form of an assistantship, i.e. a cash stipend sufficient for their living expenses, and/or tuition waiver. To get this, they have to work for a maximum of 20 hours per week. This work normally consists of teaching and research activities. These are usually for graduate courses. Teaching assistantships are more likely to be in universities, which have large undergraduate classes whereas research assistantships tend to be more common in those fields and universities in which considerable research is in progress. Information brochures of most universities give this information. Often, teaching and research abilities must be proved before assistantship is granted. Hence, many universities grant this only after the first semester. You may also be required to take TSE (Test of Spoken English) to qualify for a teaching assistantship.

Who Should Apply?
Students have a greater chance of getting financial aid if they :

   1. show evidence of a high level of academic achievement
   2. achieve high Standardized Examination scores (GRE, GMAT, TOEFL etc.)
   3. demonstrate financial need but have private funding to cover some of the cost. Financial need is not crucial for some awards.
   4. enroll in a field or have teaching experience in a subject offered at the undergraduate level (to increase opportunities for a teaching assistantship)
   5. specialize in a field or have a research interest which parallels that of the department and faculty or private funding source (which increases opportunities for research assistantships and grants)
   6. have outstanding letter(s) of recommendation and an impressive statement of purpose.
   7. send a sample of professional writing, published or otherwise.

Note : Even if no assistantship is available at the time of admission, Most Indian students manage to get some kind of financial aid from the university after one or two semesters. So it makes sense to go to the US for education if you can manage to cover one year’s expenses on your own.

Bank Loans

State Bank of India, Bank of India, Andhara Bank, Syndicate Bank and Canara Bank and many other banks have educational loan schemes which extend from schooling to research. The amount differs according to the course. Banks give a loan for studying abroad which is as high as Rs. 10 lakhs.

These loans are subject to many terms and conditions. Apart from being only a partial loan - at least 25% of the total course expenditure is to be paid by the parents of the student. The candidate has to provide security for the loan he gets. It can be in the form of a house mortgage, NSE shares or insurance policy. Security for a loan of upto Rs. 25,000 is nil but for a loan of over Rs. 25,000 to Rs. 3 lakhs, it is 100%. For a loan of Rs. 3 lakhs to Rs. 5 Lakhs, the security to be provided is 150 % and it is 200% for a loan of over Rs. 5 lakhs.

However the banks do not give these loans to anyone who applies for them. The first condition is that admission should be confirmed. Secondly, loans are not given for correspondence courses. And thirdly, the past academic record of the loan seeker should also be satisfactory. Anyone who fulfills these conditions is eligible for an educational loan which covers course fees, hostel fees, cost of books, equipment, and one way fare to the place of study if the parents of the candidate do not live there.

Repayment has to start 6 months after the completion of the course or if the person gets a job immediately after completing the course, one-month after getting the job. The maximum time given for the repayment is 15 years counted from the date of the first disbursement.

Trust Loans

Loans from trusts have low rates of interest (2-4 percent), or are interest free. Some of the most well known trusts are listed below:

   1. J.N. Tata Endowment:

      Low-Interest loans of Rs. 50,000 to Rs. 2 lakhs, and grant of Rs. 25,000 to Rs. 50,000, for several disciplines. Completed application forms must reach by 25th February of the year of award.

      For more details and application form, write to:
      The Director,
      J.N. Tata Endowment,
      Bombay House,
      24 Homi ModyStreet,
      Mumbai-400001
   2.

      K.C. Mahindra Education Trust:

      Upto Rs. 65,000, for postgraduate studies in various disciplines. Forms must be requested before 28th February of the year of award and completed forms must reach by 31st March of the year of award.

      For more details and application form, write to:
      The Managing Trustee,
      K.C. Mahindra Education Trust,
      Cecil Court,
      Mahakavi Bhushan Marg,
      Mumbai-400039
   3.

      Mariwala Trust:

      Upto Rs. 50,000 interest free, for postgraduate studies in several disciplines. Application forms must be requested before 1st March of the year of award and completed forms must reach by 30th April of the year of award.

      For more details and application form, write to:
      The Managing Trustee,
      Mariwala CharityTrust,
      409 Shah and Nahar Industrial Estate,
      Dr. E. Moses Road, Worli Naka,
      Mumbai-400018
      Tel: (022) 4938307 Fax: (022) 4974704

5>FOREIGN STUDENT ISSUES TOP

Accommodation

There is a wide range of student accommodation available in Australia. These include university halls of residence, university apartments for post graduate students and privately rented independent housing. Students can also arrange a 'Homestay' with a local family or board at many of the private secondary schools. Once you get an admission, the university's international office would help you find a suitable accommodation. Various options:

1. Homestay or farmstay
Institutions maintain a register of families prepared to board international students during the academic year. Meals are usually included in the cost. Single or shared rooms may be offered , and the cost will vary accordingly. Homestay is popular with younger students and those studying short term English courses. Farmstay offers the same services in a rural setup.

Educational institutions ensure that homestay families are reputable, and that they offer accommodation of a reasonable standard. This type of accommodation gives international students access to the Australian lifestyle in a natural and friendly way. Students are often treated like members of the family.
Approx. Cost : A$ 150 - A$ 200 per week

2. Private Board
Private board is similar to homestay. Students negotiate personally with the landlord about the standard of accommodation and meals they require.
Approx. Cost : A$ 50 - A$ 150 per week (depending on the services provided)

3. Hostels and Guest Houses
Hostels are usually run by organisations such as youth Hostels Australia, the Young Men's Christian Association (YMCA) and Young Women's Christian Association (YWCA). Students share kitchen and bathroom facilities.
Approx. Cost : A$ 80 - A$ 120 per week

4. Share and Rental Accommodation
Students often share accommodation with fellow students. They advertise on student notice boards and in the classified section of newspapers. All members of the household are responsible for cooking and cleaning. Students may have to provide their own furniture.
Approx. Cost : A$ 70 - A$ 150 per week

5. University Apartments
Postgraduate and married students have access to this type of self contained, fully furnished accommodation within the university system.
Approx. Cost : A$ 130 - A$ 215 per week

6. University Residential Colleges
Residential Colleges provide accommodation with meal. They are slightly more expensive than university Halls of Residence The college undertakes cleaning and household tasks. Sporting and social facilities, tutoring, libraries and generally computer access are also provided.
Approx. Cost : A$ 150 - A$ 250 per week

7. Halls of Residence: Halls of residence are located on or near university campuses and are generally cheaper than residential colleges. International students find them an attractive option. Students usually have meals and some cleaning services provided. Only full time students are accepted. Students need to apply early because of the high demand for places.
Approx. Cost : A$ 100 - A$ 150 per week

Compulsory Health Care

It is a requirement of the Australian Government that international students register for the Overseas Student Health Cover (OSHC) before coming to Australia.

OSHC helps pay for medical and hospital care you may need while in Australia. The OSHC rates for a 12-month stay are $ 274 for a single premium and $ 548 for a family premium.

OSHC is available from Medibank Private, Australia's largest private health insurer, Medibank Private has many business service centres around Australia, which provide fast and convenient service.

7>Program Fees for International Students                                         TOP
Note: Fees are listed in Australian Dollars (AUD$). Fees might not be accurate. You must check fees with program provider.

   University of Ballarat School of Business
$15,600

Southern Cross University Graduate College of Management
$19,200

Victoria University Victoria Graduate School of Business
$19,500

University of the Sunshine Coast Faculty of Business
$19,800

University of New England Graduate School of Business Administration
$20,400

Charles Darwin University School of Business
$20,600

Central Queensland University Faculty of Business and Law
$21,840

University of Newcastle Faculty of Business and Law
$22,800

Deakin University Deakin Business School
$24,000

University of Canberra School of Business
$24,400

Murdoch University Murdoch Business School
$25,000

University of Wollongong Graduate School of Business and Professional Development
$25,200

Flinders University School of Commerce
$26,000

University of Adelaide Adelaide Graduate School of Business
$27,000

University of South Australia International Graduate School of Management
$27,200

RMIT University School of Management
$28,800

Curtin University of Technology Curtin Business School
$29,000

Griffith University Graduate School of Management
$30,930

University of Western Australia Graduate School of Management
$31,800

University of Western Sydney Sydney Graduate School of Management
$33,000

Swinburne University of Technology Australian Graduate School of Entrepreneurship
$35,000

University of Queensland School of Business
$38,400

Bond University School of Business
$39,600

University of Technology Sydney Graduate School of Business
$41,400

University of Melbourne Melbourne Business School
$52,000

Australian Graduate School of Management Australian Graduate School of Management
$56,280

8>AustraliaN BSCHOOL Rankings TOP
Australian MBA rankings 2009, including those for the Australian EMBA programs, coming soon.

Australian MBA Rankings 2008
·1 Australian Graduate School of Management
·2 Melbourne Business School
·3 Macquarie Graduate School of Management
·4 Brisbane Graduate School of Business
·5 University of Queensland
·6 University of Adelaide
·7 Curtin University of Technology
·8 University of Technology Sydney
·9 University of South Australia (International GSM)
·10 RMIT University

The rankings above are based on those carried out by Asia Week with additional information from the Financial Times research into global MBA rankings, the Melbourne Institute, AFR, and the Australian Education Network. The Financial Times included two Australian business schools in its research into MBA programs. The Australian Graduate School of Management (University of New South Wales) was ranked at 42 in the list and Melbourne Business School was ranked at 58.

Financial Times MBA World Top 100 2006

Melbourne Business School (University of Melbourne) - 63 (3 year average 66)
Australian Graduate School of Management - 84 (3 year average 69)

Financial Times MBA World Top 100 2005

QUT's Brisbane Graduate School of Business is a new entrant in the Financial Times Top 100 for 2004:

Australian Graduate School of Management - 53 (3 year average 63)
Melbourne Business School (University of Melbourne) - 72 (3 year average 73)
Brisbane Graduate School of Management QUT - 82

Financial Times MBA World Top 100 2004

These same two entrants were on the Financial Times MBA 2003 world rankings:

Melbourne Business School (University of Melbourne) - 64 (3 year average 67)
Australian Graduate School of Management - 69 (3 year average 55)

The selection basis for this MBA ranking was based on three general dimensions of marketplace purchasing power , diversity of experience, and qualities of the research. The Financial Times rankings are well regarded as a guide to how well the schools match up against each other.

Financial Times MBA World Top 100 2003

Two Australian entrants on the Financial Times MBA 2000 world rankings were:

Melbourne Business School (University of Melbourne) - 57
Australian Graduate School of Management - 65

Asiaweek Asia's best MBA schools 2002

IMPORTANT NOTE: The following schools did not participate in this survey:

Australia Asia Management Centre (The Australian National University)
Australian Graduate School of Management AGSM (University of New South Wales and University of Sydney)

W O R L D C L A S S

BEST IN REPUTATION

No Australian winner

BEST FULL-TIME MBA IN ASIA

Melbourne Business School No:1 of 3

BEST PART-TIME MBA IN ASIA
Melbourne Business School No: 1 of 3

BEST EXECUTIVE MBA IN ASIA
No Australian winner

BEST DISTANCE MBA IN ASIA
Curtin University of Technology No: 2 of 3
Brisbane Graduate School of Business No: 3 of 3.

Asia's Best MBA Schools By Reputation
======================================
Asian Rating
·4 Melbourne Business School
·16 Mount Eliza Business School
·26 School of Management (RMIT University)
·27 Graduate School of Business (University of Technology Sydney)
·30 Brisbane Graduate School of Business (Queensland University of Technology, Australia)
·31 Graduate School of Management (University of Adelaide)
·33 Graduate School of Business (Curtin University of Technology)
·40 International Graduate School of Management (University of South
·Australia)
Economist Intelligence Unit World MBA 2002 Rankings

Australian MBA schools appear on the Economist 2002 rankings

School Rank (out of 100)
70 Australian Graduate School of Management
75 Mt Eliza Business School
89 Melbourne Business School University of Melbourne

9>Part-Time Work While Studying TOP

International students are allowed to work even outside the campus in Australia while pursuing their MBA degree. Students can work upto 20 hours per week during the semester and full-time during vaccations.

Please note that MBA is a very intensive program and you would have lot of assignments and projects to do at any time. It is not easy to take out time to do any extra work during the semester.

Contrary to popular belief, students are able to obtain part-time employment quite easily in bigger cities like Melbourne and Sydney. Students are entitled to work full time during the holidays. There is no permission required for most international students to take part-time and vacation work. Students can take up placements or internship placements, which are part of many MBA programs.

Usually, most jobs are minimum wage jobs like work in fast food joints and department stores. The higher paid jobs involve working in call centres. You should also explore opportunities available in your university.

Approximate part-time earnings: A $ 6 per hour.

You should not plan on earning substantial money from a part-time job to help pay for your studies.

It is important to find a good internship opportunity during your program. Not only do you get paid well if you work with a good organisation but also, it increases your employability on completion of the MBA program.

For further details about internships and part-time work opportunities, contact the foreign student adviser at the university, after you are enrolled.

10>Student Visa                                                                                 TOP

1. Who needs a Student Visa

Any person who intends to undertake full-time study in a registered course in Australia needs to obtain a Student Visa. A Student Visa permits the holder to travel to, enter and remain in Australia for the duration of the registered course of study. Overseas students cannot undertake part-time study in Australia and must leave Australia on completion of their course of study.

2. Applying for a Student Visa

To be considered for a Student Visa, you must first complete an application form (157W) which is available free of charge either from the Australian High Commission or the official High Commission Website. The application form must be accompanied by the correct application fee, which should be in the form of a bank draft made payable to the Australian High Commission.

It is best to apply through a university representative as thr application procedure is quite long and cumbersome.

The application fee for a student (temporary) visa can be found from the official High Commission or consulate website. The fee is subject to change without notice. An application will not be accepted unless it is made in the prescribed form and with the correct fee.

The fee is an immigration service charge and is non refundable irrespective of the outcome of your visa application.

3. Preliminary Visa Assessment (PVA)

Your application will be assessed on the basis of the following criteria:

(a) Evidence of Enrolment

    One of the important requirements for a student visa application is that you must be accepted for enrolment, to undertake a course, by a Government registered Australian education institution. This is verified by the advice of acceptance from the Australian institution (commonly known as Letter of Offer), which is issued to a student who has been offered enrolment in a full-time course. You should not pay any part of the course tuition fee prior to the outcome of the PVA. (see Section 4)

(b) Bona Fides

    The bona fides assessment determines whether an applicant is a genuine student who intends to undertake studies in Australia, abide by visa conditions and depart on completion of the course. This involves examining the following:

        * academic performance of the applicant;
        * relevance of the proposed course of the applicant’s current academic and employment circumstances;
        * whether the applicant’s English language skills are adequate for the purposes of the proposed course;
        * applicant’s intention to comply with visa conditions and leave Australia at the end of the authorised period of stay

(c) Adequate Financial Resources

    This involves an assessment of the applicant’s or his/her sponsor’s ability to finance all expenses pertaining to the applicant’s education in Australia. The factors that may be taken into account include:

        * Capacity to pay for course tuition fee, return air fares to home country and all expenses (including medical insurance) associated with his/her stay in Australia;
        * Applicant’s capacity to repay any loans taken to finance his/her study; and
        * if the applicant is married, his/her ability to support any financially-dependent family unit members for the duration of the course.

    An overseas student is permitted to work for 20 hours a week when the course is in session. This is subject to obtaining a work permit at a fee of AIJD5O. Employment in Australia is not guaranteed. No work restrictions apply during vacations. Students should not expect to fund their studies and living costs in Australia through part-time employment. The approximate cost of living for a single person in Australia is between AUD 12,000 and AUD 14,000 per annum. This figure will be higher where dependent(s) intend to accompany the student.

4. Further Processing

If you are advised that you meet the PVA requirements, you will be asked to undergo further processing. This includes payment of course tuition fee to the Australian educational institution and a medical examination. It is essential that the student and the accompanying dependent(s) meet the Australian Health requirements before a visa may be granted. This involves a medical check and an x-ray for applicants over 16. Applicants will need to present an original valid passport to identify themselves to the Doctor and Radiologist. In some casesmedical results will be referred to Australia and as this process takes 3 4 weeks, applicants will need to allow additional time. Usually only medicals where the doctor or radiologist has detected an abnormality will be referred to Australia. Applicants need to take into account postage or courier times also.

5. Total processing time

As a general rule, applicants should allow a four (4) to six (6) week timeframe for processing of applications.

Factors that may delay this processing time include:

    * Medical referral to Australia and the need for any subsequent medical tests;
    * Document verification including educational documents, employment references and bank statements; and
    * Applications which are incomplete and require the visa office to make contact with the applicant or the applicant’s agent.

It is compulsory for all international students to have Overseas Student Health Cover (OSHC) for themselves and their dependents, where applicable, for the duration of the visa. The. premium for. OSHC is only to be paid once the PVA requirements have been met. The current premiums for OSHC are AUD274 for a single person and AIJD54S for a whole family.

7.   Members of the Family Unit

Dependent(s) of the student may accompany him/her to Australia. A member of the family unit includes spouse (including defacto spouse), unmarried dependant, children under the age of 18 and a fiance(e) intending to marry within 3 months of arrival.

A member of the family unit is considered in the same visa class as the student. The name(s) should be included in the same application as that of the student if applying at the same time. Most student dependents are allowed to work 20 hours a week (different conditions apply to spouses of post graduate students).

Members of the family unit cannot enter Australia as dependants if the duration of the proposed course is less than 12 months.

8. Education of School Age Dependents in Australia

Students should be aware that if any of their children (over 5 years of age) intend to join them in Australia, they will be required to provide evidence of the child’s enrolment in an Australian school for the duration of the applicant’s course. The student is responsible for all expenses associated with their child’s education (including tuition fee) in Australia. Students should also check with the Education Authority in the State in which they intend to study for further information, including the cost of the schooling.

9. Re-entry into Australia

All Student Visas have a multiple entry facility for the full period of the visa. Students who plan to travel out of, and return to, Australia at any time during their course are advised to check that their visa is valid for return to Australia.