Masters in Management in Australia is a 2-year full time program catering to various specialisations. Students can choose from Accounting, Finance, Human Resources, Marketing, and other subjects for Masters in Management in Australia. An overall undergraduate aggregate of 55-65% is the minimum requirement to apply for admission to Masters in Management in Australia. Students need a GMAT score of 680 or equivalent for admission to the program.
The annual tuition cost of Masters in Management in the top management universities in Australia ranges from 30,000-70,000 AUD (17.23-40.22 lakhs INR). The return on this investment is fairly high as graduates secure an annual salary between 50,000 to 150,000 AUD (26 to 78.1 lakhs INR). Some of the top employers of Masters in Management graduates in Australia are KPMG, Accenture, Randstad, Gartner, employing students in management roles.
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Masters in Management in Australia Highlights
| Courses Available | MIM: Accounting, Finance, Human Resources, Marketing, Business Information Systems |
| Course Type | Full-time |
| Program Duration | 2 years |
| Eligibility Criteria | Bachelor’s degree in Management or equivalent from a recognized university with at least 65% aggregate |
| English Proficiency Requirements | IELTS: 6.5 (6.0 in each band) TOEFL IBT: 85 overall |
| Entrance Exam | Minimum GRE score: 326 Minimum GMAT score: 680 |
| Tuition Fees | 30,000-70,000 AUD (17.23-40.22 lakhs INR) |
| Annual Salary | 50,000 to 150,000 AUD (18.43 to 79 lakhs INR) |
Top Universities for Masters in Management in Australia
Some of the top-ranked universities for Masters in Management in Australia and their respective application deadlines are listed below:
| University | Program | Application Deadline | Annual Tuition Fee (AUD) |
|---|---|---|---|
| University of Sydney | Master of Management: Human Resource Management and Industrial Relations | 25 June 2023 | 54,000 |
| Deakin University | Master of Human Resource Management | 19 February 2023 | 30,600 |
| The University of Melbourne | Master of Management | 30 April 2023 | 47,712 |
| La Trobe University | Master of Management: Project Management | 31 January 2023 | 40,400 |
| University of Technology Sydney | Master of Management | 15 January 2023 (applications closed) | 68,688 |
| University of Wollongong | Master of Management | 31 March 2023 | 48,096 |
| Australian National University | Master of Management | 15 February 2023 | 46,680 |
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Why Study Masters in Management in Australia?
Management is a fast-growing field with the need for management personnel increasing gradually. A Master's in Management in Australia is a great choice for individuals planning to excel in the Management line. Here are some of the key reasons behind selecting Masters in Management in Australia:
- As per the QS World University Rankings 2023, some of the top universities for MiM in Australia such as the University of Melbourne, Australian National University, and University of Sydney are among the top 100 universities in the world
- Masters in Management in Australia is offered in both full-time and part-time modes. This enables individuals to work while studying the program.
- Masters in Management in Australia guarantees high-paying jobs in Australia and abroad. Graduates earn an average salary of 94,000 AUD (48.9 lakhs INR) per annum after Masters in Management in Australia.
- Some of the top employers of Masters in Management graduates in Australia are KPMG, Accenture, Randstad, Gartner, employing students in management roles.
- Australia's unemployment rate as of October 2022 is 3.4%, indicating numerous job opportunities for graduates.
What are the requirements for Masters in Management in Australia?
The intake sessions for Masters in Management in Australia occur thrice a year across various universities. Candidates who have completed a bachelor’s degree or a graduate certificate in Management with at least 55% to 65% aggregate can apply for the program. Given below is the detailed breakdown of the basic admission requirements and eligibility criteria for MiM in Australia:
Masters in Management in Australia: Eligibility Criteria
The eligibility criteria for Masters in Management in Australia depends on the specialisation. Checking the entry requirement prior to selecting a Masters in Management program in Australia assists in self-assessment.
- Degree: An Australian bachelor’s degree in Management or equivalent with at least 55% to 65% aggregate. A graduate certificate in Management with more than 65% aggregate is also acceptable.
- Experience: Candidates who do not meet the degree requirement but possess a relevant experience of 5-7 years can also apply.
- Proof of English Proficiency: A minimum IELTS score of 6.5 overall with at least a 6.0 score in each band.
- Entrance Exam: Although entrance exams are not mandatory for all universities, submitting an overall GMAT score of 680 or a GRE overall score of 326 is recommendable.
Masters in Management in Australia: Admission Requirements
The following documents are required to be submitted at the time of application for Masters in Management in Australia:
- Official transcripts of previous academic courses/programs
- Australian students visa as well as copy of valid passport
- Statement of Purpose (500-700 words)
- Proof of prior work experience (if any)
- 1 professional and 2 academic LORs
- An updated resume
The university specific admission requirements for Masters in Management in Australia are tabulated as follows:
| University | Eligibility Criteria | IELTS Score |
|---|---|---|
| University of Sydney | Bachelor’s from a recognized university, at least 50% aggregate or equivalent | 7 (6.0 in each band) |
| Deakin University | Bachelor’s from a recognized university or equivalent | 6.5 (6.0 in each band) |
| The University of Melbourne | Bachelor’s from a recognized university, at least 65% aggregate or equivalent | 6.5 (6.0 in each band) |
| La Trobe University | Bachelor’s from a recognized university or equivalent | 6.5 (6.0 in each band) |
| Victoria University | Bachelor’s degree from a recognized university or equivalent | 6.5 (6.0 in each band) |
| University of Technology Sydney | Bachelor’s degree from a recognized university or equivalent | 6.5 (6.0 in each band) |
| University of Wollongong | Bachelor’s from a recognized university, minimum 50% aggregate or equivalent | 6.5 (6.0 in each band) |
| Monash University | Australian bachelor’s or equivalent, weighted average marks of 70 or more | 6.5 (6.0 in each band) |
| Australian National University | Bachelor’s in management with at least 5.0 GPA out of 7.0 (65-75%) | 6.5 (6.0 in each band) |
How much does a Masters in Management in Australia cost?
The cost of pursuing MiM in Australia does not only include the tuition fee of the universities, but also the travel and accommodation costs in Australia. The estimated monthly cost of living in Australia is 2,326 AUD (1.28 lakhs INR). The average annual tuition fees for Masters in Management in Australia ranges from 30,000-70,000 AUD (17.23-40.22 lakhs INR). Given below are the expanded details of the same:
The university-wise tuition costs for Masters in Management in Australia are mentioned as follows:
| University | Annual Tuition Fee (AUD) | Equivalent Fee (INR) |
|---|---|---|
| University of Sydney | 54,000 | 31.02 lakhs |
| Deakin University | 30,600 | 16.10 lakhs |
| The University of Melbourne | 47,712 | 27.41 lakhs |
| La Trobe University | 40,400 | 21.20 lakhs |
| University of Technology Sydney | 68,688 | 39.46 lakhs |
| University of Wollongong | 48,096 | 27.63 lakhs |
| Australian National University | 46,680 | 26.82 lakhs |
Cost of Living in Australia
Australia is one of the costliest countries in the world, just behind the UK and the USA. Therefore, candidates should know where their money is going to be spent before flying to Australia. The average living cost in Australia is 2,500 to 3,500 AUD (1.5 to 1.8 lakh INR) per month. Here are some of the common expenses of international students in Australia:
| Expense Type | Average Cost (AUD) | Cost Equivalent (INR) |
|---|---|---|
| Accommodation | 1,495 | 82,010 |
| Food | 312 | 17,115 |
| Travel | 150 | 8,228 |
| Internet | 76 | 4,169 |
| Utilities | 207 | 11,354 |
| Miscellaneous | 86 | 4,717 |
Masters in Management in Australia: Scholarships
Scholarships for Masters in Management in Australia cover up to 10,000 AUD (5.26 lakhs INR). Candidates with academic excellence in Management or extra-curricular activities can avail these scholarships. Following are some of the popular scholarships in Australia for international students programs:
| Scholarships | Eligibility | Awards |
|---|---|---|
| Postgraduate Academic Excellence International Scholarship | Enrolled in University of Technology Sydney, Academic merit | 25-35% off tuition fees |
| UTS Vice-Chancellor’s International Postgraduate Coursework Scholarship | Enrolled in any postgraduate (coursework) degree at University of Technology Sydney, minimum overall aggregate of 90% | Full tuition fees coverage |
| La Trobe International Scholarships | Enrolled at La Trobe University | 25% reduction in tuition fees |
| La Trobe South Asia Excellence Scholarships | Enrolled at La Trobe University | Academic excellence | 30% reduction in tuition fees |
| Sydney International Student Award | Enrolled in University of Sydney, Personal Statement | 20% off tuition fees |
| ANU Postgraduate Accommodation Bursary | Candidates enrolled in a graduate program at the Australian National University facing financial hardship. | Residential allotment |
Masters in Management in Australia Placements
Masters in Management in Australia guarantees employment at some of the top companies in the world with excellent salaries. The average annual salary after a Master in Management in Australia is 81,000 AUD (46 lakhs INR). The average salary of the Masters in Management graduates in Australia according to popular job sectors are provided below:
| Job Roles | Annual Salary Range (AUD) | Equivalent Salary (INR) |
|---|---|---|
| Marketing Coordinator | 57,000 | 32.75 lakhs |
| Event Manager | 74,000 | 42.52 lakhs |
| Operations Manager | 88,000 | 50.56 lakhs |
| Management Consultant | 116,000 | 66.65 lakhs |
| Human Resources Coordinator | 64,000 | 36.77 lakhs |
| Human Resources Manager | 111,000 | 63.78 lakhs |
| Project Manager | 91,000 | 52.28 lakhs |
| Procurement Manager | 118,000 | 67.80 lakhs |
| Marketing Manager | 95,000 | 54.58 lakhs |
| Marketing Specialist | 64,000 | 36.77 lakhs |
Some of the popular companies in Australia, recruiting Masters in Management graduates and their average mid career salaries according to Payscale are as follows:
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Is Masters in Management worth it in Australia?
Yes, the top universities in Australia provide excellent return on investment to international students pursuing Masters in Management. Some of the top universities, their tuition fee and annual salary comparison are provided below:
| University | Annual Tuition Fee (AUD) | Average Annual Salary (AUD) |
|---|---|---|
| University of Sydney | 54,000 | 76,000 |
| The University of Melbourne | 47,712 | 75,000 |
| La Trobe University | 40,400 | 66,000 |
| University of Technology Sydney | 68,688 | 73,000 |
| University of Wollongong | 48,096 | 68,000 |
| Australian National University | 46,680 | 75,000 |
Masters in Management in Australia College Comparison
Following are some of the top Masters in Management universities in Australia and their brief comparison:
| Particulars | University of Sydney | The University of Melbourne | University of Technology Sydney |
|---|---|---|---|
| QS World Rankings, 2023 | #41 | #33 | #137 |
| GPA | 50% | 65% | No bar |
| IELTS Score | 7 (6.0 in each band) | 6.5 (6.0 in each band) | 6.5 (6.0 in each band) |
| Tuition Fee | 54,000 AUD (31.02 lakhs INR) | 47,712 AUD (27.41 lakhs INR) | 68,688 (29.46 lakhs INR) |
| Average Graduate Salary | 76,000 (39.95 lakhs INR) | 75,000 (39.41 lakhs) | 73,000 (38.36 lakhs INR) |
Which is better for Masters in Management: UK or Australia?
The following table will guide you through the basic differences between MiM in Australia and MiM in UK:
| Parameter | Masters in Management in UK | Masters in Management in Australia |
|---|---|---|
| Duration | 1 year | 2 years |
| Average Tuition Fees | 16,000-45,000 GBP (16-45 lakhs INR) | 30,000-70,000 AUD (17.23-40.22 lakhs INR) |
| Cost of Living | 1,120 GBP (1.11 lakhs INR) | 2,326 AUD (1.28 lakhs INR) |
| Percentage Required | 65-75% | 60-70% |
| English Language Proficiency Tests | IELTS: 7.0 | TOEFL: 100+ | IELTS: 6.5 | TOEFL: 88 |
| Accepted Exams | GMAT/GRE Scores (if required) | Minimum GRE score: 326 | Minimum GMAT score: 680 |
| Average Salary | 45,000 GBP (45 lakhs INR) | 81,000 AUD (47 lakhs INR) |
Masters in Management in Australia ensures high paying jobs to international students. Management sector in Australia is expected to grow by 8.13% by 2027. This indicates a potential growth in the number of jobs in the upcoming future.
FAQs
Ques. Which university is best for a Master in Management in Australia?
Ans. Several globally ranked universities are situated in Australia for Master of Management such as The University of Adelaide, The University of Sydney, the University of Wollongong, Monash, etc. The University of Sydney was ranked #1 in Australia for its Master of Management program and #4 in the world for graduate employability.
Ques. What are the specialisations available in Master in Management in Australia?
Ans. Entrepreneurship and Innovation, International Business, Project Management, Marketing are some of the specialisations for Master in Management in Australia. You can also choose from Data Analytics,
Human Resource Management, Logistics and Supply Chain Management, Business Information Systems specialisations.
Ques. Are IELTS scores required for applying for a Master in Management in Australia?
Ans. Master in Management in Australia does not require proof of English Proficiency from candidates whose primary language is English such as individuals hailing from the USA, UK, New Zealand, etc. However, aspirants whose native language is not English must have an IELTS score of at least 6.5 with no less than 6 in each band. You can also submit TOEFL or PTE.
Ques. Can I apply for a Master's in Management in Australia without a bachelor’s degree in management?
Ans. Candidates who do not possess a bachelor’s degree in management can apply if they have a degree in any other stream or they have completed a Graduate Certificate program in management.
Ques. Does a Master's in Management in Australia pay well?
Ans. After the completion of a Master's in Management in Australia, candidates may expect a salary ranging from 50,000 to 150,000 AUD (26 to 78.1 lakhs INR) per year. This annual payroll will increase with the increase in experience and productivity.
Ques. What are top recruiters after a Master's in Management in Australia?
Ans. After completing a Master's in Management in Australia, candidates can get an offer letter from the leading companies of the world such as Telstra, Accenture, BPH Billiton, Westpac, GE Capital, and many more.
Ques. Can I work while studying for a Master's in management in Australia?
Ans. Part-time work while studying helps aspirants to make the ends meet in a country as expensive as Australia. The work-while-study policy of Australia enables Master's in management students to work for a attal of 20 hours per week. Furthermore, they can't apply for a full-time job as it will affect their full-time program.
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