Australia is the preferred destination for those who want to complete their MBA from low cost business schools. It is not that the students would have to compromise on the quality of education. B-schools like Melbourne Business School and the likes have been ranked among the best in the world and are popular worldwide. Australia has been gaining popularity because of relatively low expenses, good infrastructure and high quality of life.


Advantage AUSTRALIA

•    Australia – low cost destination
•    Good infrastructure and high quality of life at reasonable cost.
•    Cutting edge teaching methodology and faculty.


Eligibility
Most of the universities in Australia recognize a three year Indian degree (B.Com, BA, BSc, etc) as equivalent to an Australian degree. Thus, three year Indian degrees from recognized Indian universities are accepted. However, for getting admission to good universities, a degree from leading Indian university would help. MBA programs in Australia do not, normally, accept students without graduation. In exceptional cases, a few students having considerable work experience and professional achievements might be accepted.


Work Experience
Most of the Australian universities require 2-3 year full-time work experience. However, there are some universities where work experience is not mandatory. However, preference would be given to experienced candidates. All AMBA accredited MBA programs require a minimum of three years of full time work experience.


Qualifying Examination

GMAT
Having a good GMAT score would definitely improve one’s chances of getting into a top B-school. However, many B-Schools do not require GMAT and are very much flexible about it. Unless one is aiming for top B-Schools like Melbourne Business School, GMAT would not be a hurdle.

TOEFL & IELTS
TOEFL or IELTS is required by almost all universities in AUSTRALIA. TOEFL should not be a hurdle for the students who have studied in English medium schools as it is a fairly simple exam. Very few schools waive off this requirement after a personal interview. However, one must note that IELTS is mandatory for getting Australian student visa. So, even if one gets admission without IELTS, one would require it for getting visa.


Application Procedure

One needs to select a B-School and have the following documents ready:

1.    Academic Record - Transcripts & Mark sheets
Transcripts of all colleges attended after high school, are to be sealed in an envelope and attested across the seal by the registrar of college before sending them to the concerned university. The transcripts must indicate the courses and credits involved for each year. This has to be done for each college attended after high school.
If the originals are not in English, copies and a good English translation must be enclosed.

2.    Standardized Tests(GMAT/TOEFL) Score Reports
GMAT /TOEFL/IELTS scores have to be submitted along with the transcripts.

3.    Work Experience Details – Resume
A detailed resume including work experience is an important part of the application process. It should indicate the name of organization, position held, nature of work and achievements (if any).

4.    Letter(s) of Recommendation
It has to be obtained from a person who knows the candidate in person or has taught the candidate. Prescribed forms are available with the universities for this purpose. It should indicate how the candidate is known to the person who is recommending and in what capacity. It helps the universities gauge the potential of the candidate.

5.    Application Essays / Statement of Purpose
Statement of purpose must indicate why the candidate has chosen for a particular course and how his education is suitable for that course. It is an opportunity for the candidate to market himself. In case of similar GMAT/IELTS scores and qualifications, this document might become the deciding factor.

One must start the application process 12 months in advance. The applications can be requested through the university websites or can be downloaded from the websites. In most of the cases, education consultants/agents would provide the application forms.


Fee and other expenses
The tuition fee would range from USD 10000 to 12000 per annum. Living expenses normally range from USD 25000 to 30000 per annum. There are many one year MBA programs available. Thus, total fee for one year MBA program would be around USD 35000-42000.


Financial Aid
Most of the Australian universities do not grant aids for MBA programs. A few of them, however, provide scholarships to outstanding students having high GMAT/IELTS scores, excellent academic record and who could demonstrate that they do not have any alternate source of funding. Other students can take loans (upto Rs. 15 lacs) from home country at interest rates of 15-16%.

You might also like following articles