To get an MBA? Or not to get an MBA?
For many young professionals, this is the question they find themselves back and forth with. With it’s long standing years of reputation as a qualification, the demand for MBA’s remains incredibly high with top companies constantly looking to hire MBA graduates. But what makes them so employable? Read on – as this article will equip you with everything you need to know about MBAs as well as the ‘Top MBA Programs in Australia, Based on QS Ranking 2021’
What is an MBA?
Master of Business Administration (MBA) is an internationally accredited qualification that provides current and future leaders with leadership and financial management skills to further elevate their professional career. What can you expect from an MBA degree includes general knowledge in multiple principles such as accounting, economics, finance, marketing with the option (depending on the university and programme of choice) of specialization in a specific niche principle.
Most MBA programs consist of a comprehensive structure that’ll equip you with real-world projects, exposure to different business functions. Along with practical experiences from case studies, group work and individual assessments.
As MBAs cater to individuals that are already in the working field, you will be able to opt for a full time or part time course. Something to also note about NBA’s are that they can be applied to almost every field & industry.
What is QS Ranking?
QS World University Ranking is an annual publication by Quacquarelli Symonds (QS). The worldwide known QS Ranking system now comprises the global overall and subject ranking of higher education institutions divided by different regions : Asia, Canada, Europe, Global, Latin America, North America and Oceania.
Read more here: Top 3 University Ranking Systems
Why should you pursue an MBA?
Is an MBA really worth it? You may be asking yourself this question, wondering if stepping into an MBA qualification is the right path for you. Well, MBA can be looked at as an investment into your personal and professional development. Here are the top 3 benefits of pursuing an MBA :
1. Advancement of management & leadership skills
An MBA programme is equipped with adequate knowledge and skills that are necessary for you to thrive at your job. You’ll be equipped with necessary tools, techniques to prepare you to adapt to the ever changing business environments. It will force you to step out of your comfort zone and bring your team, business and company to the next level. No matter if you’re a consultant, an entrepreneur, or business owner, you will be able to enhance your problem solving skills,decision making skills, analytical skills, communication skills and even challenge yourself to think and work creatively in the competitive world of business. You’ll also learn time management and crisis management!
2. Networking & business opportunities
An MBA also creates the opportunity for networking. Students that undertake MBA’s are usually from different industries and roles. Interacting with fellow students, lecturers, teaching staff & business people will be able to expand your management capabilities. This helps also in creating opportunities for growth within your respective demographic market, You need to meet the right kind of people and to have the right kind of talents in your company to be able to succeed.
3. High salary potential
Many individuals consider MBA’s to be investments into their professional careers. And of course, when you invest in something you’d most definitely expect a high return as well. Australis sits among the ‘Top 10 Countries In the World’ for MBA salary prospects. Acquiring an MBA qualification automatically puts you in the upper hand of higher & better paid positions in companies as compared to degree holders.
Job & Career Prospects
Here are some of the industries & job prospects that you can consider upon completing your MBA program:
Industries
- Banking
- Finance
- Consultant
- Education
- Government
- Health Care
- Non-Profit Organizations
- Technology
- Manufacturing
- Energy & Resources
Job Prospects
- CEO
- Entrepreneur
- Managing director
- Project manager
- Chief managing officer
General Entry Requirements for MBA in Australia
It is important for you to note that most of the MBA programs are extremely competitive & many times, individuals would have to go through interviews before gaining acceptance into the university.
Bachelor’s Degree | Minimum, CGPA of 2.5 -3.0 |
English Requirements (IELTS) | Minimum. 7.5 with no less than 7.0 for individual test |
*Note: Requirements may vary among universities. Contact us for more details!
For entry into most MBA programs, individuals are required to complete a Bachelor’s Degree from any recognized tertiary educational institution. They should also have acquired at least 3-5 years work experience in where at least half of those years must be at a managerial, supervisory and/or senior professional level
Top 5 MBA Programs in Australia, Based on QS Ranking 2021
#1 University of New South Wales (UNSW)
Ranking | QS Ranking in Australia: 1st QS Ranking In The World: 4th |
Program Structure | Core phase: Nine core courses completed over two terms Elective phase: Seven elective courses completed over two terms |
Duration | 1.5 years (Full Time) |
Intake | January |
Indicative Annual Fee (2021) | Contact Excel Education |
#2 Macquarie University
Ranking | QS Ranking in Australia: 2nd QS Ranking In The World: 19th |
Program Structure | Foundation zone: foundational knowledge needed to success in the course if you’re from a different disciplinary background Core zone: compulsory & covers the specific disciplinary or professional requirements of the course Flexible zone: provides breadth to the course & is comprised of elective units *Depending on the admission point for which you qualify (see Entry Requirements), you will need to complete some or all of the zones. |
Duration | 1.5 to 2 years (Full Time) |
Intake | January |
Indicative Annual Fee (2021) | A$40,000 |
#3 Deakin University
Ranking | QS Ranking in Australia : 3rd QS Ranking In The World: 29th |
Program Structure | Core units: 8 Elective units: 4 |
Duration | 1 year (Full Time) |
Intake | July and November |
Indicative Annual Fee (2021) | A$35,400 |
#4 La Trobe University
Ranking | QS Ranking In Australia: 4th QS Ranking In The World: 31st |
Program Structure | Year 1 : 120 credits (Core) Year 2 : 60 credits
|
Duration | 1.5 years (Full Time) |
Intake | March, July and November |
Indicative Annual Fee (2021) | A$42,000 |
#5 Curtin University
Ranking | QS Ranking In Australia : 5th QS Ranking In The World: 45th |
Program Structure | One chosen specialisation
(each 4 units, 100 credits), with 7 units (200 credits) |
Duration | 1.5 years (Full Time) |
Intake | February |
Indicative Annual Fee (2021) | A$44,900 |
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Leo baby & a psych major
