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Masters in International Business in Australia

The two-year Masters of International Company (MIB) programme in Australia is made to help business managers advance their skills and resources in the global marketplace. The yearly tuition for institutions in Australia that provide a master's degree in international business ranges from 28,000 to 42,500 AUD. The cost ranges between 15 and 23 lakh INR for an Indian student who wants to apply for a MIB in Australia. This investment is worthwhile because Australian students who acquire a master's degree in international business typically make roughly 80,000 AUD annually.

Cross-cultural and multinational financial management are the subjects covered in a master's degree in international business. Students who complete this degree can better comprehend how multinational corporations operate, the difficulties they encounter, and the complicated contexts in which they must operate. It provides the chance to acquire the latest information and skills needed in modern global business enterprises.

High academic standing and a bachelor's degree in a related field are requirements for Admission to the Masters of International Business in Australia programmes. Most Australian colleges demand a good GRE or GMAT score for entrance to the programme. Prospective students whose first language is not English must obtain great results on the numerous English proficiency tests the university accepts.

Why Study International Business in Australia?

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Australian master's degree programmes are among the best in the world and are a terrific location to live. The academic climate in Australia encourages originality, creativity, and free thought. A Masters in Management in Australia opens up gateway to management related jobs.

Australia is devoted to making sure that international students enjoy their time there. Institutions that accept overseas students are subject to a rigid set of guidelines covering marketing initiatives, the teaching process, physical spaces, and student services, including legal and medical assistance.

  • Australia's Masters in International Business is respected worldwide, and several colleges have received accreditation from esteemed organisations like the Association to Advance Collegiate Schools of Business (AACSB).
  • International graduates can reside in various housing options in Australia on a post-study work visa, a Skilled-Graduate (Temporary) visa, an Employer Nomination Scheme, or a Regional Sponsored Migration Scheme to earn qualified work experience.
  • Through the SkillSelect skilled migration programme, students with in-demand skills (such as accountants, actuaries, and business systems analysts) can also apply for permanent residency.
  • Graduates from business information systems or accounting programmes from abroad might apply for a professional year programme that offers work experience with an Australian firm and better chances of being eligible for permanent residency in that nation.
  • Additionally, since MIB import-export is so in-demand in the nation, specialising in it might be advantageous.

Universities

In the top 100 of the 2012–2013 " =">Times Higher Education World University Rankings are four of Australia's 39 institutions. These institutions include the University of Queensland (ranked 62), the University of Sydney (ranked 62), the University of Melbourne (ranked 28), and the Australian National University (ranked 37). (65th). In Australia, over 230,000 international students are enrolled in higher education programmes; yearly, there are roughly 90,000 graduates.

Tuition and Program Duration

Before starting their master's degree studies, international students must pay their tuition and fees. Depending on the university, master's degree tuition might range from A$15,000 to A$36,000. If procuring a tuition fee is difficult, one can always apply for an Education loan for Abroad studies.

Master's degree programmes last between two and four years. Following a bachelor's degree, the course of study typically lasts two years; however, if you earned the student's bachelor's degree with honours, they may be able to complete the master's programme in just one year.

Academic Year

In Australia, the academic year spans from early March through late November. Most institutions have two semesters each year, some have a trimester system, and some include summer sessions from December to February.

Post-Graduate Opportunities

Employers worldwide value graduates with master's degrees from Australian institutions more. A post-study employment visa that enables overseas graduates of Australian institutions to remain in Australia for up to four years after graduation was passed recently by legislation. The University of Melbourne is considered a prestigious University for Masters in International Business.

International students may be able to find employment in Australia after graduating, but they shouldn't study there only for immigration reasons. People on a Skilled Occupations List are given preferential consideration when migrating to Australia. However, the process for skilled migration is distinct from the procedure for student visas. The ability of an Australian student pursuing a master's degree to immigrate to Australia is not guaranteed.

If accepted into a doctorate programme and get a second student visa, individuals may also continue their education after earning a master's degree.

Who Should take Master of International Business in Australia?

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Anyone holding a bachelor's degree or higher from a recognised institution, with a grade Australian institutions would accept, may enrol in this course. Suppose an applicant is not from a native English-speaking nation. In that case, they must also pass an English language proficiency exam and complete all other prerequisites for a master of international business programme in Australia, besides having a strong bachelor's degree.

List of Master of International Business in Australia

Admissions to Masters in International Business in Australia

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It is advised that overseas students review the specifics of the dates and processes required for Admission to Australian institutions on the college/university website. Many institutions have been delayed because of COVID-19. Therefore students should regularly check the university website for revised dates. The following information pertains to master of international business admissions and eligibility:

Entry requirements: The following documentation is required for international applicants to Australian universities:

  • A bachelor's degree in any field or the equivalent.
  • Each university attended submitted a transcript of grades along with a translation of the original that is not in English.
  • List of grades for the bachelor's degree, including a description and documentation of all relevant statistics courses taken.
  • Individual statement
  • CV or a resume
  • A list of your schooling, internships, extracurricular activities, and work experience.
  • Motivational letter
  • There may be a need for an official GMAT or GRE score report.

Cost of Studying Master of International Business in Australia

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It is difficult to determine the exact price of a Master's in international business in Australia because prices for living and education vary depending on the location and university [often, the greater the city, the higher the student fees]. One must know the ways to fund your studies to eliminate last minute worries. For instance, according to the post's tuition list, tuition costs range from about AUD27,000 to AUD90,000. This may swiftly alter if a new group of Australian institutions were to be sampled. Beyond tuition, overseas students also have extra expenses to consider while enrolling in graduate programmes. A Masters in Business Analytics is also one of the most sought programs. Therefore, the best recommendation is to be as financially ready as possible before beginning your master's in international business studies.

Cost of studying

It is difficult to determine the exact price of a master's in international business in Australia because prices for living and education vary depending on the location and university [often, the greater the city, the higher the student fees]. For instance, according to the post's tuition list, tuition costs range from about AUD27,000 to AUD90,000. This may swiftly alter if a new group of Australian institutions were to be sampled. Beyond tuition, overseas students also have extra expenses to consider while enrolling in graduate programmes. Therefore, the best recommendation is to be as financially ready as possible before beginning your master's in international business studies. 

Pre-arrival expenses

You will be liable for these expenses while still in your home country. These mostly include flying travel, health insurance, and other applicable costs. These later costs include applying for visas, attending certain universities, taking certain exams to study in Australia, etc.

Type of Expense Amount (in AUD)
Australian Student Visa Fees 575
Health Insurance 450 - 600
Medical Insurance Fees 106 - 120
IELTS Fee 340
PTE Fees
280 - 300
TOEFL Fees 245 - 380
Air Travel 900 - 1000
GMAT Fees 379

You must acquire health insurance if you are an international student in Australia.

Tuition fees

The annual cost to study for a Master of International Business degree in Australia ranges from 12,000 to 49,000 Australian Dollars (AUD). For an Indian student, this would be the equivalent of shelling out between 6.5 and 26 lakh Indian Rupees. A 1.5 to 2-year study will cost an Indian student somewhere between 12 and 51 lakhs of Indian rupees. The amount might be a hardship to pay for. Therefore it is a good idea, in this case, to seek scholarships that are available to study in Australia.

Living expenses

Depending on where you choose to reside, the cost of living might fluctuate. In Australia, one needs about 20,000 Australian Dollars per year to maintain their quality of living (10,9 lakh Indian Rupees). The approximate cost of sustaining a standard of living in Australia is as follows:

Study accommodation:

The entire breakdown of costs students incur when renting a home in Australia is shown below:

Accommodation Type Rent (AUD/month)
Hostels & Guesthouse 360-600
On-campus Accommodation 440-1120
Share Rentals 368-860
Rentals 740-1760
Homestays 470-1300

Other living expenses:

  • Gas and electricity: 35 to 140 AUD/week
  • Car (ongoing cost): 150 to 260 AUD/week
  • Public transport: 15 to 55 AUD/week
  • Groceries and eating out: 80 to 280 AUD/week
  • Entertainment: 80 to 150 AUD/week
  • Phone and Internet: 20 to 55 AUD/week

Master of International Business in Australia: Eligibility Criteria

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The qualifying requirements may differ between institutions and even within the same institution's colleges and departments. The University of Sydney's Master of International Business prerequisites is listed below.

A candidate must meet the following criteria to be considered for Admission:

  • An Australian bachelor's degree or higher in a related field with a credit average of 65% or an equivalent qualification, an Australian bachelor's degree or higher in an unrelated field with a credit average of 65% or an equivalent qualification and relevant professional work experience (typically three years), or an Australian bachelor's degree or higher in a related discipline with a credit average of less than 65% (but a minimum of 50 pence).
  • A total IELTS score of at least 7.0 and a score in each band of at least 6.0
  • Each band has a minimum PTE score of 68 overall and a minimum score of 54. A minimum TOEFL-iBT score of 96 overall, including a minimum score of 17 in Reading, Listening, and Speaking and 19 in Writing.

Course Curriculum

The Master of International Business programme in Australia offers just the perfect balance of academic classroom education and practical experience to best prepare students for successful careers. Students must finish three to four semesters of in-depth study as part of the degree (twelve subjects). In class, the following subjects are covered:

Managing in the Global Context Economics and Finance for Business
Accounting for Business Decisions Contemporary Management Capabilities
International Trade and Logistics Business Law and Governance
Contemporary Marketing International Finance
Multinational Corporations
Strategic Intelligence and Analytics
Business Research Work Integrated Learning Postgraduate

It's feasible that this curriculum will resemble an MBA in many ways. Some of the main distinctions between an MBA and a Master of International Business degree include the following:

The MIB degree has fewer prerequisites regarding grades and work experience and concentrates more on the intellectual than the professional aspects. When considering whether to pursue a Master of International Business or a Master of Business Administration in Australia, your long-term career goals should be your priority.

How to get Admission to the Master of International Business in Australia?

Before applying to colleges in Australia, it is highly advised that overseas students visit the college or university website to better understand the individual application dates and procedures. Students must continually check the university websites for revised due dates because several colleges have postponed because of COVID-19. The following is a list of the prerequisites and eligibility standards for Australia's master's in international business programmes:

The following papers must be submitted by overseas students who wish to apply for Admission to an Australian institution:

  • A bachelor's degree in any field or the equivalent.
  • A translation of the original document, if it was not written in English, and a copy of grades from each educational institution attended.
  • A summary of the marks earned during the bachelor's degree and information on and documentation of each subsequent statistics course were necessary.
  • individual statement
  • CV or a resume
  • Briefly describe your educational history, including any relevant extracurricular activities, internships, and (professional) experience.
  • Motivational letter
  • You may need a certified GMAT or GRE score report.

Masters in International Business in Australia with Scholarships

You can apply for several university-specific scholarships for overseas students to study at any Australian institution. If you cannot apply for these scholarships, the Australian government offers several other scholarships to help you further your studies, including the Australian Awards.

 

Jobs after Masters in International Business in Australia

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One might look for employment with a master's in International Business degree in many organisations. 

Depending on the area of specialisation, the degree aids at the beginning of a career in international corporations.

Accenture, Lucent, HSBC, Procter & Gamble, Britannic Assurance, Hewlett-Packard, Eurosport, Microsoft, McKinsey & Company, Capgemini, Ernst & Young, and Shanghai Bank are a few of the top hiring firms. The University of Sydney is the most popular university among international students.

Due to the dissolution of conventional economic barriers brought about by globalisation, the business has undergone a permanent transformation. Businesses are now performed beyond national boundaries, political systems, cultural differences, and social structures, creating a constant need for experts who can handle the difficulties of managing a firm on a global scale. With a master's in international business, you may get these abilities and knowledge of the legal issues of managing multinational corporations. Obtaining this degree from Australia paves the way for a successful international career and a comfortable median income.

Top Recruiters

  • Accenture
  • IBM
  • Tata Consultancy Services
  • Deloitte
  • Genpact
  • Oracle
  • JP Morgan
  • Flipkart
  • EY
  • Dell
  • Tata Motors
  • State Bank of India
  • Bharti Airtel

Having a thorough understanding of the global business world is crucial, whether you want to work for yourself or not. Enrolling in a master of international business programme in a nation with a well-regarded educational system, like Australia, is an easy way to acquire this information. The adage "two heads are better than one" is frequently used. This is why AECC Global was established—to work alongside prospective international students to ensure that every step of their application process is carried out following official guidelines, avoiding mistakes and other improper practices that could result in disqualification and the waste of limited resources. In a word, AECC ensures you will complete your master of the international business programme while minimising your stress and expenses.

 

FAQs

1- What are some of the best institutions in Australia that offer a master's degree in international business?

Some well-known universities in Australia that offer a master's degree in engineering management include the Queensland University of Technology, University of Melbourne, University of Technology Sydney, University of Newcastle, and La Trobe University.

2- How much does an Australian Master in International Business cost?

The program's yearly tuition costs range from 12,000 to 49,000 AUD. This will cost an Indian student 6 LPA INR and 20 LPA INR. Around A$ You will need 21,000 for living costs for international students in Australia.

3- What qualifications are required for an international business master's degree in Australia?

An international bachelor's degree with a 50–60% score in a relevant field is required for Admission to Australia's master's in international business programmes. Some colleges may need a GMAT score (600 or more). Additionally, it would be best if you had a TOEFL score of 79 or an IELTS score of 6.5.

4- How much money can I make in Australia with a master's degree in international business?

The typical entry-level salary ranges from 60,000 to 80,000 AUD per year. With MIB, students may make up to 200,000 AUD in Australia.

Know Your Author
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Abhyank Srinet
Study Abroad Expert
Abhyank Srinet, the founder of MiM-Essay.com, is a globally recognized expert in study abroad and admission consulting.His passion lies in helping students navigate the complex world of admissions and achieve their academic dreams. Having earned a Master's degree in Management from ESCP Europe, Abhyank's expertise in data-driven marketing strategies has driven growth for some of the most competitive industries. As the founder of MiM-Essay.com, he has helped thousands of students get into top business schools with a strong emphasis on research, shortlisting, and applying to schools from a single platform. His dedication to education has also led him to create MentR-Me, a free-to-use social platform that simplifies the study abroad process for students, while providing universities with a powerful recruitment tool. As a leader in the field of admission consulting, he is constantly researching and implementing the latest strategies to ensure that his clients receive the best possible guidance. He leads the Business Development and Digital Marketing side of both companies, and has grown both ventures to 7 figure revenue.His unique insights, experience, and dedication to his clients make him a valuable resource for anyone seeking to advance their education or career.
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