Top MBA colleges in Australia: Cost of MBA and GMAT cutoffs PDF Download

The GMAT evaluates a candidate's analytical writing and problem-solving skills, as well as their ability to reason logically and critically and make decisions based on data, which are crucial for success in the business and management world. The GMAT exam is a crucial part of the admission process for over 7,700 programs at 2,400 universities and institutions located in 110 countries. It is important to have an idea of the cutoffs for the colleges of your choice as that can help you set your goals in a better and more realistic manner. The first step to finding the college of your choice is to set your priorities right, like do you have location preferences, your budget and so on.
If you wish to pursue an MBA from a college in Australia, then this article is made for you. We will be going through the GMAT cutoffs and tuition fees for the top colleges in Australia, while also providing other information necessary to form an informed decision.
The GMAT requirements for MBA programs in Australia differ based on the global ranking of the colleges. Australia boasts 77 prestigious MBA programs recognized worldwide, with most being accredited by either The Association to Advance Collegiate Schools of Business (AACSB) or The EFMD Quality Improvement System (EQUIS).
Before we dive into the GMAT cutoffs for colleges in Australia, let's make the admission requirements clear 

Eligibility Criteria for MBA Admissions in Australia

To be eligible for admission to top universities in Australia, applicants must meet certain criteria, provide required documents, and pay the necessary application fees. The basic admission requirements for these universities include:

• Undergraduate Degree
• GMAT or GRE Score
• Work Experience
• Language Requirements
• Passport & Visa

Undergraduate Degree

To be eligible for MBA programs at universities in Australia, applicants must hold an undergraduate degree with a minimum CGPA of 5.0 to 7.0 from a recognized university.

GMAT or GRE Score

Having a high GMAT or GRE score is a crucial factor for admission to top MBA programs in Australia. The score requirement can vary based on the university and type of MBA program. As a general benchmark, a score of 600 to 650 is commonly accepted for the GMAT exam.

Work Experience

Having a minimum of 3 to 5 years of professional work experience in a relevant field is highly preferred for admission to top MBA programs in Australia. Although not all universities have a mandatory requirement, having prior work experience is considered a significant advantage.

Language Requirements

English proficiency tests are a mandatory requirement for Indian students applying to MBA programs in Australia. The minimum scores required for the following tests are:

• IELTS: 6.5 to 7.5
• TOEFL (iBT): 100
• PTE : 58 to 60

Passport & Visa

Having a valid passport and student visa is mandatory for all international students who want to study in Australia. It is important to note that the visa application process should be completed at least three months before the intended travel date.

Top MBA colleges in Australia

We are taking the QS global rankings into account. The QS Global MBA Rankings is an annual ranking of the world's best MBA programs, published by QS Quacquarelli Symonds, a UK-based education and careers company. The ranking is based on various criteria, including reputation, career prospects, and class size, among others. It provides a comprehensive evaluation of MBA programs offered by universities and business schools globally, helping prospective students make informed decisions about their education.
The top five colleges in Australia according to their QS ranking are:

• University of Melbourne: Melbourne Business School
• University of New South Wales: Australian Graduate School of Management
• Monash University: Monash Business School
• University of Queensland Business School
• MGSM Macquarie

University of Melbourne: Melbourne Business School

Melbourne Business School, located at the University of Melbourne, is considered a top business school in Australia. If you want practical business experience in a vibrant city, this is the place for you. The Economist has ranked its MBA program as the best in Australia. The curriculum offers a comprehensive education and practical applications for real-world situations.

Key highlights

Melbourne Business School is proud to have some of the world's leading companies, including Accenture, AT Kearney, Bain & Company, Commonwealth Bank, Deloitte, Ernst & Young, Expedia, Gallup, GE, Google, IBM, Johnson & Johnson, KPMG, McKinsey & Co, Oracle, and Vodafone, among its key recruiters.
At Melbourne Business School, students have the opportunity to participate in international exchange programs at one of the 29 prestigious partner institutions, including Stern, London Business School, ESADE, and others.

University of New South Wales: Australian Graduate School of Management (AGSM)

The Australian Graduate School of Management (AGSM) at the University of New South Wales is committed to equipping students with the skills necessary for success in general management and executive leadership positions in both business and government. The school is widely recognized as one of the top business schools in Australia. The MBA programs at AGSM blend traditional teaching methods with hands-on case studies and team-based exercises to develop students' decision-making skills.

Key Highlights

Some of the notable companies that recruit from Australian Graduate School of Management include ANZ, A.T. Kearney, Booz and Co, Boston Consulting Group, KPMG, McKinsey & Co, Ernst & Young, Futurebrand, GE, Kellogg’s, National Australia Bank, and Westpac.
In addition to international exchange programs, Australian Graduate School of Management students have the option to participate in paid partnerships with over 30 renowned institutions such as HKUST in Hong Kong, the Indian Institute of Management in Bangalore, SDA Bocconi in Italy, Copenhagen Business School in Denmark, and Columbia Business School in the US.

MGSM Macquarie Graduate School of Management

Macquarie Graduate School of Management (MGSM) is a business school located in Sydney, Australia. It offers graduate and postgraduate programs in management and business, including MBA and Executive MBA degrees. MGSM is known for its practical, industry-focused approach to management education and has a strong reputation in the Asia-Pacific region.

Key Highlights

MGSM Macquarie Graduate School of Management is a well-regarded business school in Australia that attracts top recruiters from a range of industries such as banking and financial services (ANZ, Westpac, Commonwealth Bank of Australia), consulting (McKinsey & Company, Bain & Company, Deloitte), technology (Apple, Google, Microsoft), consumer goods (Coca-Cola, Nestle, Procter & Gamble), pharmaceuticals (Pfizer, Johnson & Johnson, GlaxoSmithKline), and energy (Woodside Petroleum, Origin Energy, AGL Energy).

Monash University: Monash Business School

Monash business school is located in Caulfield East, Australia, and is part of Monash University. The school offers a range of programs, including undergraduate and postgraduate degrees, that prepare students for careers in business, management, and related fields. With a focus on cutting-edge research and real-world experience, Monash Business School is dedicated to providing its students with the knowledge and skills they need to succeed in the business world.

Key Highlights

Some of the well-known companies that recruit from Monash Business School include Deloitte, PwC, KPMG, Accenture, ANZ Banking Group, Commonwealth Bank, NAB, Westpac, and many more. The school has partnerships with over 200 universities across the world, including leading business schools in Europe, Asia, North America, and South America. By participating in an exchange program, students can broaden their horizons, expand their network, and gain valuable global exposure and experience that can help set them apart in the competitive job market.

University of Queensland: UQ Business School

The University of Queensland (UQ) Business School is the business faculty of the University of Queensland, a public research university located in Brisbane, Australia. The Business School offers undergraduate, graduate and postgraduate programs in business and management, including an MBA program. The UQ Business School is known for its strong academic programs and industry connections, with a focus on developing well-rounded and responsible business leaders

The University of Queensland (UQ) Business School is renowned for hosting top-notch leadership events, featuring prominent figures such as Steve Wozniak, Co-founder of Apple and Chief Scientist at Fusion-io, and Mike Smith, CEO of ANZ Group. Some of the popular recruiters of UQ Business School include: Commonwealth Bank of Australia, Westpac, National Australia Bank, McKinsey & Company, Deloitte, PwC, IBM, Microsoft, Oracle, Procter & Gamble, Coca-Cola, Unilever, Woodside Petroleum, Origin Energy, Santos, Johnson & Johnson, Pfizer, Novartis

MBA in Australia without GMAT

Australia is a popular destination for students who want to study abroad and offers a vibrant and supportive atmosphere for students. The quality of education in Australia is widely recognized and MBA graduates from Australian universities have a strong track record of success. With more universities now accepting applicants for MBA programs without the requirement of the GMAT, students have more options to choose from when considering their MBA studies in Australia. The following is a list of some well-known Australian universities that offer MBA programs without the GMAT requirement:

Documents required for MBA admissions in Australia

Before submitting their application to any MBA program, international students need to provide a set of accompanying documents. They should verify that the following items are included:

• Transcripts of all previous academic qualifications
• A CV or resume
• Letters of recommendation (LOR)
• A statement of purpose (SOP)
• Test scores for IELTS/TOEFL
• Test scores for GMAT/GRE
• A certificate of work experience.

Cost of Living

The cost of living in Australia for students is estimated to be between 19,000 and 21,000 AUD per year, and may vary depending on individual lifestyles and spending habits. This includes expenses such as rent for accommodation, food, groceries, and other miscellaneous items.

Frequently Asked Questions (FAQs) MBA in Australia 

What is the MBA duration in Australia?

The typical duration of an MBA program in Australia is two years, though there are some universities that offer shorter, 1.5-year courses.

What are the entrance exams required to study MBA in Australia for Indian students?

To be eligible to study MBA in Australia's top colleges, you must demonstrate mastery in English exams like IELTS, TOEFL, or GMAT. Additionally, a minimum GPA score of 5.0 to 7.0 is required for admission to an MBA program.

Is work experience listed on MBA in Australia eligibility?

Most of the top MBA programs in Australia have a work experience requirement of at least 3 to 5 years for admission. The requirement for work experience is in place to ensure that students have the necessary practical knowledge and skills to make the most of their MBA studies and to provide them with a solid foundation for future professional growth and success

Can I apply for MBA Australia without GMAT?

Most universities in Australia now offer the possibility of applying for an MBA program without taking the GMAT exam, as the requirement for this entrance exam is either optional or has been waived off by many institutions.

What is the MBA salary in Australia?

International students who complete an MBA degree in Australia can earn an average of 104,000 AUD per year, although this amount may vary depending on the chosen job profile.