The Master of Business Administration (MBA) is a higher education qualification. The MBA focuses on refining skills in a range of business activities. These can include as accounting, marketing, human resources & operations. An MBA arms the graduate with the knowledge to successfully manage a business. Almost 40% of Fortune 100 CEO’s having attained an MBA qualification¹.
In Australia, 5.5% of people aged 15-74 have a postgraduate degree². Furthermore, Australian MBA graduates earn the highest reported salaries in the world³.
Types of MBA Programs
There are a number of MBA programs and specialisations available in Australia.
- Full-time MBA – For those who are able to allocate one to two years to focus on gaining their accreditation. Full-time MBA students may take a year or two off work to complete their qualification.
- Part-time MBA – Those who have more time to complete their MBA. These students may balance work and study simultaneously. Study length is typically beyond two years, with only one or two units enrolled in per semester.
- Online MBA – Students are able to study remotely. These MBAs are still detailed to be part-time or full-time. Some providers offer a blend of online and on-campus study, while others offer their MBA program online.
- Executive MBA – Designed for the working professionals with over 8 years of management experience. A prior qualification may not be required for Executive MBAs.
- MBA Specialisations – Designed for those who want to focus on units relating to their specific industry or job function. The most common specialisations are Marketing, Human Resources, Consulting, International Business, Finance, Media & Public Sector.
- Mini MBA – Shorter programs which may or may not be accredited. Typical study time is around 100 hours.
Where can you study an MBA?
There are over 40 MBA providers in Australia. These include Business Schools, Universities and other Registered Training Organisations. You need to ensure the provider you choose matches your requirements.
Master of Business Administration Governing Bodies
Tertiary Education Quality and Standards Agency (TEQSA)
TEQSA is Australia’s national regulator of higher education providers. Information about how they protect current and future students can be found here.
Commonwealth Register of Institutions and Courses for Overseas Students (CRICOS)
An official Australian Government website listing all MBA providers and their programs offered to people studying in Australia on student visas. Find out more here.
Cost of an MBA?
Master of Business Administration tuition fees range from $15,000 to over $80,000 depending on your provider and program. Fees typically get reviewed annually with tuition typically increasing 3-5%.
(1) “Map: Where Fortune 100 CEOs Earned MBAs” from US News; https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/2017-03-21/map-where-fortune-100-ceos-earned-mbas; Internet; retrieved 05 September 2017.
(2) “6227.0 – Education and Work, Australia, May 2016” from Australian Bureau of Statistics; http://www.abs.gov.au/ausstats/abs@.nsf/mf/6227.0; Internet; retrieved 05 September 2017.
(3) “Jobs & Salary Trends 2016/2017” from Top MBA; https://www.topmba.com/why-mba/publications/jobs-salary-trends-report-2016-17; Internet; retrieved 23 August 2017