The QS Global 200 Business Schools Report for the current year 2013-14 fascinatingly reveals that Australian MBAs are attracting “stellar salaries” (owing to the strength of the Australian dollar); starting salaries average to more than $US 100,000! This is not just another statistic; an MBA in the land down under could really turn your life around and open up doors to your dream career!
Aus B Schools
Australian MBAs could cost you anywhere from approximately $US17,000 to over $US91,000 for international students. Fee ranges vary widely depending on course duration, course options, and many more factors.
As per the latest ranking based on employer recognition of the MBA degree, MBA grads stepping out of Australian B schools enjoy the best starting salaries in the whole of the Asia-Pacific region. In fact, as per the QS Global it was found that Macquarie University has the world’s highest figures for a business school- with $US 143, 583.
MBA graduates from these Australian B schools averaged to earn more than $US 100,000; Melbourne Business School (ranking third among B schools in the Asia- Pacific region)-$US112,065; La Trobe Business School- $US 110,000; Queensland University of Technology and Brisbane Graduate School of Business - $US 104,756.
Shattering the ROI Myth
The ROI would vary vastly from school to school and program to program, depending on what you have chosen to take. In your quest for getting the best ROI, do not be misled by the common misconception that the more expensive your B school, the better the ROI. In fact, it has been proved that the fee and the ROI may have little or no connection to each other by the Good Universities Guide to MBAs 2014.
Australian B schools with the top ROIs that have received four star ratings are: Graduate School of Management and Macquarie Graduate School of Management.
Ross White, the Good Universities Guide’s data manager, tells students, “Rather than reviewing each institution individually and risk being misled by their promotional material, our ratings compare MBAs and business schools against each other in areas that actually matter to prospective MBAs, such as corporate links, staff qualifications, graduate destinations and student cohorts.” It is highly advisable that you always rely on such world-renowned ranking systems to pick out the best B school for your MBA.
The Indian MBA
Now that we’ve had a peep at the present situation of starting salaries and ROI for Aus MBA grads, let’s see where MBA’s stand in India at present. If you were also looking to do an MBA in one of India’s top B schools, you would have to invest (for fees) from anywhere between $US 3,200 to $US40,000. The average starting salaries may fall in the ranges from nearly $US 13,700 to $US35,000. Surely-you can see the contrasting difference for yourself when you compare the figures overseas and back home. You can make much higher salaries abroad than you ever could back home.
Money Isn’t Everything!
Time and time again- the question arises: is the cash return the only reason to be doing an Australian MBA? Of course not! Here are a few more reasons:
- Australia has an unparalleled international reputation for its MBA programs- owing to the five-star system of its Graduate Management Association of Australia. Australia has 42 top notch MBA programs for you to choose from. An MBA from Australia will simply make you stand out because of the effort that Australia puts into the quality of its MBA programs.
- Australia also gets some of the world’s best MBA professors to teach in their country- one of the many reasons why MBA enrolment numbers are huge every semester.
- Many MBA programmes demand several years of work experience alongside an excellent academic record. Even if you fall short of some of these requirements, some of these Australian programmes offer alternative entries for your benefit.
- Australia is a country that fosters the mixture of western and eastern cultures. It offers MBA programmes that cater to the needs of the business environment of the Asia-Pacific region.
- An Australian MBA will generally require you studying for a 16 month period at an internationally recognized management school. It will teach you effective leadership skills and will help develop your interpersonal skills by developing your confidence and communication skills. You will become aware of all factors required to run a successful business.
No Pain No Gain!
Gone are the days when you had to work your way up the corporate ladder step by step; now with a recognised MBA, you can take your career straight to the top! There is no real down side of an Australian MBA except for the fact that an international MBA from Aus may be one of the most expensive study option available-in comparison to other countries, but the ROI with the job you land will easily help you make up for it. Of course you also have to take into consideration the fact that
Australia has a very high cost of living. You may have to sweat and toil both for the programme and your finances as a student, but you will definitely reap the benefits once you graduate!
Have a look at some of the MBA listings on our site and start your B school quest now!