MBA in Melbourne: Best Colleges, Admission, Fees, Opportunities

Melbourne MBA colleges stand out for their affordability, high-quality education, state-of-the-art infrastructure, and experienced faculty. The relatively low cost of living, combined with factors such as a student-friendly culture, diverse community, and strong job prospects, continues to attract thousands of students to pursue an MBA in Melbourne.

While the city is home to over 40 MBA institutions, some universities — such as the University of Melbourne (Melbourne Business School) and Monash Business School — have earned a place in the list of the world’s top institutions for management studies five years in a row.

To secure admission into a well-reputed MBA college in Melbourne, students typically need a valid bachelor's degree from a recognized university, along with acceptable GRE or GMAT scores, and proof of English proficiency through IELTS, TOEFL, or PTE scores.

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MBA in Melbourne, Australia – Why Choose Melbourne for MBA Studies

Once again, the beautiful coastal city of Melbourne has raced ahead of its competitors to be crowned the best Australian city for MBA studies. The factors that pushed Melbourne to the top of the list include its world-class infrastructure, vibrant socio-cultural environment, the presence of globally recognized MBA institutions, excellent internship opportunities, cutting-edge research facilities, and more. In short, Melbourne offers students not just a top-tier education, but also welcoming locals, efficient public transport, safe streets, and a budget-friendly cost of living. What more could a student ask for?

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Best MBA Colleges in Melbourne, Australia with Rank – Certified, Approved, Well Accredited Institutions

The QS World University Rankings has evaluated MBA colleges in Melbourne based on various parameters such as academic reputation, employer reputation, faculty quality, global diversity, and career outcomes.

To help you make an informed decision, we’ve compiled a list of the top MBA colleges in Melbourne, ranked according to their international standing — a clear reflection of their global popularity and academic performance.

University / Business School	QS Global MBA Rank	Accreditation
Melbourne Business School (University of Melbourne)	#1 in Australia; Global rank: #30–32	Accredited by AACSB and EQUIS
Monash Business School (Monash University)	National rank: #5; Global: #84	Holds AACSB, EQUIS, and AMBA (triple accreditation)
Deakin Business School (Deakin University)	Global MBA ranking: 201–250 (QS)	Accredited by AACSB and EQUIS
La Trobe Business School (La Trobe University)	Global MBA ranking: 201–250 (QS)	Accredited by AACSB
RMIT Business School (RMIT University)	Global MBA ranking: 151–200 (QS)	Accredited by AACSB

Note: The college rankings provided are indicative and based on publicly available information from the internet. They are meant to give a general idea about the universities; actual data and figures may vary.

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MBA in Melbourne – Eligibility and Admission Criteria

Students choose Melbourne for MBA studies not only because of its high-quality education and strong employment prospects, but also due to its straightforward and convenient eligibility and admission criteria. Below is some useful information about the eligibility requirements and admission process for pursuing an MBA in Melbourne, helping you plan your study abroad journey more effectively.

Requirement	Details
Educational Qualification	A bachelor’s degree (3 or 4 years) from a recognized university in any discipline.
Work Experience	Typically, 2–5 years of full-time work experience is preferred or required by top institutions (e.g., Melbourne Business School, Monash). Some programs may accept freshers.
GMAT/GRE Score	Many universities require a valid GMAT or GRE score. Some may offer waivers based on work experience or academic performance. E.g., MBS prefers a GMAT score of 650+
English Language Proficiency	For non-native English speakers: - IELTS: Minimum 6.5–7.0 overall - TOEFL iBT: 79–100 - PTE Academic: 58–65
Letters of Recommendation (LORs)	1–2 LORs from academic or professional referees.
Statement of Purpose (SOP) / Personal Statement	A well-written SOP explaining your career goals, reasons for choosing the program, and your suitability.
Interview	Many top MBA programs include a personal interview as part of the selection process (in-person or online).

 

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Fee and Cost of Studying MBA in Melbourne

Melbourne ranks at the top among 20 global cities that offer high-quality education at an affordable cost. The tuition fees for accredited MBA programs in Melbourne typically range from AUD 30,000 to AUD 40,000 making it one of the most cost-effective destinations for students from India, the Middle East, and Europe.

In addition to low tuition fees, Melbourne offers affordable housing, budget-friendly public transportation, and reasonably priced eateries, making student life more manageable compared to many other major cities.

To help you save more while pursuing your MBA, we’ve curated a list of top MBA colleges in and around Melbourne that offer quality education at a reasonable fee.

University / Business School	Program Name	Estimated Total Tuition Fee (AUD)
Melbourne Business School (University of Melbourne)	Full-time MBA	AUD 96,000 – 102,000
Monash Business School	MBA (12–24 months)	AUD 48,000 – 65,000
Deakin Business School	MBA (Online & On-campus)	AUD 44,000 – 55,000
RMIT University	Executive MBA / MBA	AUD 44,000 – 50,000
La Trobe University	MBA	AUD 40,000 – 47,000
Victoria University	MBA	AUD 36,000 – 44,000

Note: The fees mentioned above exclude the hostel fee, which is subject to change at the discretion of the university. For the latest updates or any possible changes in fees, please check the university's official website.  

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Cost of Living for Students in Melbourne

Expense Type	Average Monthly Cost (AUD)
Accommodation (shared)	AUD 600 – 1,200
Food and groceries	AUD 300 – 500
Public transport	AUD 100 – 160
Utilities & Internet	AUD 100 – 150
Miscellaneous (social, study materials, etc.)	AUD 200 – 300

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MBA in Melbourne – Career Opportunities and Salary Packages

The heavy influx of MBA aspirants from overseas and other Australian cities reaffirms the fact that Melbourne not only provides students with a solid academic foundation but also offers rewarding career opportunities comparable to those in many Western countries.

Indeed, the presence of some of the world’s biggest and most renowned brands in Australia continues to attract millions of professionals and students from around the globe who come to study, work, and build successful careers in Melbourne.

Business School / Program	Average Salary (AUD/year)	Notable Recruiters
Melbourne Business School (University of Melbourne)	~160,000 (3 months post-MBA)	Accenture, Bain & Company, McKinsey & Co, Google, KPMG, Deloitte, Commonwealth Bank, EY, IBM, Oracle, Vodafone, Expedia
Monash Business School	~146,443 (3 months post-MBA)	Deloitte, PwC, KPMG, Accenture, ANZ, Commonwealth Bank, NAB, Westpac
La Trobe Business School	~107,947 (3 months post-MBA)	Accenture, ANZ, Commonwealth Bank, Bain & Company, McKinsey & Co, Google
RMIT University School of Business & Law	~75,555 (3 months post-MBA)	JP Morgan, Macquarie Group, Goldman Sachs, KPMG, Deloitte, PwC, EY, Commonwealth Bank, NAB, Westpac
General Postgraduate (Business & Management) in Victoria	Median ~92,000	Accenture, ANZ, Commonwealth Bank, Bain & Company, McKinsey & Co, Google
National Top Recruiters (Australia-wide)	Median ~80,000	Deloitte, PwC, KPMG, Accenture, ANZ, Commonwealth Bank, NAB, Westpac

 Note: The figures provided are indicative and meant to give a general idea about the universities. Actual data and figures may vary. 

 

Application Process for MBA in Melbourne, Australia

It’s clear that Melbourne is a leading destination for MBA aspirants. A piece of good news for international students is that, compared to the US and UK, the MBA application process in Melbourne, Australia is relatively simple and straightforward.

While the process involves researching programs and colleges, clearing the GMAT/GRE and English proficiency tests with valid scores, it’s important to approach it with patience and planning.

To make your journey smoother, here’s a step-by-step guide to the MBA application process for Melbourne:

1. Research and select a program that comes up to your career goals and expectations. 

2. Check eligibility before selecting an MBA college. It is important for the student to meet all the terms of admission.

3. Preparing for GMAT/GRE is important to secure a seat in many reputable MBA colleges in Melbourne. The better your score, the better chance to get a seat.

4. English is the mainstream language of Australia. Hence, it is important to be able to speak, write, and understand English. So, you need to clear the IELTS.

5. Depending upon the college you have chosen, gather all the required academic and personal documents for admission and share with the university through their official website to submit your application form online.

6. The process of applying online for any MBA Program includes a fee which is important to pay to submit your application successfully. So, consider paying the fee online.

7. Interview is mandatory for admission in many MBA colleges in Melbourne, so prepare well and work upon your communications skills.

8. Now depending upon your academic performance, interview, and score achieved in various tests you might receive an admission offer letter via email to study in Melbourne from university which means you need to pay another part of fee to secure a seat.

9. Now it is the time to apply for the visa and plan travel with accommodation.  

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Tips for International Students Planning to Study MBA in Melbourne

If your reason for moving to Melbourne goes beyond just pursuing an MBA, perhaps you're also seeking better professional and career opportunities then it's essential to plan strategically so you can feel at home in Australia.

While being polite is always important, it becomes even more crucial when living abroad among people from different cultures and backgrounds. Simple gestures like saying "Hello," "Please," and "Thank you," along with a smile, can go a long way in making a positive impression.

To develop a sense of belonging in Melbourne, try to build friendships with people who share your interests, values, and mutual respect. Everyone may be a stranger at first, so be open, kind, and welcoming to those around you.

Being away from home can sometimes lead to feelings of isolation, but overcoming loneliness is key to making the most of your international study experience. One of the best ways to do this is by immersing yourself in the local culture.
 Join a sports team or club, explore local markets, go shopping, and don't hesitate to start conversations with classmates, neighbors, or even friendly strangers.

If you follow these tips, your study and living experience in Melbourne is sure to be fulfilling and enjoyable.

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