Australia is one of the most popular destinations for international students pursuing an MBA due to its high-quality education system, multicultural environment, and post-graduation employment opportunities. However, before deciding to study in Australia, it’s important to understand how much does it costs to study MBA in Australia. The cost of studying for an MBA in Australia can vary depending on the university, the city, and the student’s lifestyle, but it can range between INR 25 lakhs to 45 lakhs or more. Let’s check how much it costs to study MBA in Australia and the important factors to consider.
Table of contents
How Much Does It Cost to Study MBA in Australia?
Studying for an MBA in Australia can cost between INR 25 lakhs to 45 lakhs per year, depending on the university, city, and lifestyle choices. Major factors to consider include tuition fees, which range from AUD 30,000 to AUD 60,000 annually (INR 16 lakhs to 32 lakhs), and living expenses, around AUD 20,000 to AUD 27,000 annually (INR 10.7 lakhs to 14.5 lakhs). Some more additional costs include student visa fees (AUD 620), Overseas Student Health Cover (OSHC), and books and study materials. Check a brief details of fee breakup below:
| Type of Expenses | Estimated Cost |
| Tuition Fees | AUD 30,000 – AUD 60,000 per year (INR 16 lakhs to 32 lakhs) |
| Living Expenses | AUD 20,000 – AUD 27,000 per year (INR 10.7 lakhs to 14.5 lakhs) |
| Visa and Insurance | AUD 1,120 (INR 60,000 approx.) |
| Books and Materials | AUD 500 – AUD 1,000 per year (INR 27,000 – 53,000) |
| Total Average Cost | INR 28 lakhs to 48 lakhs per year |
Also Read: Check here all the major details on Canara Bank Education Loan Repayment
Tuition Fees for MBA in Australia
The first and most important cost to consider for MBA in Australia is the tuition fee. The tuition fee for an MBA in Australia generally ranges from AUD 30,000 to AUD 60,000 per year (approximately INR 16 lakhs to 32 lakhs). However, the fee can vary depending on the institution, the course structure, and the duration of the program. Some of the top universities in Australia offering MBA programs include:
- University of Melbourne: AUD 94,200 (INR 50.6 lakhs approx.)
- University of Sydney: AUD 89,000 (INR 47.6 lakhs approx.)
- Australian National University (ANU): AUD 54,000 (INR 29.2 lakhs approx.)
- University of Queensland: AUD 80,000 (INR 42.8 lakhs approx.)
In general, the more prestigious the institution, the higher the tuition fees will be. Check the fee structure on the official website of the university where you want to study.
Accommodation Expenses in Australia
The cost of living in Australia is another significant factor when budgeting for your MBA in Australia. On average, students can expect to spend around AUD 20,000 to AUD 27,000 per year (approximately INR 10.7 lakhs to 14.5 lakhs) on living expenses, including accommodation, food, transport, and entertainment. Check a rough breakdown of average living costs below:
- Accommodation: AUD 200 – AUD 700 per week (INR 11,000 – 37,000)
- Food: AUD 80 – AUD 200 per week (INR 4,300 – 10,700)
- Transport: AUD 30 – AUD 60 per week (INR 1,600 – 3,200)
- Miscellaneous expenses: AUD 50 – AUD 100 per week (INR 2,700 – 5,400)
Major cities like Sydney, Melbourne, and Brisbane tend to have higher living costs, with Sydney being the most expensive city for students.
Visa and Insurance Costs
To study in Australia, international students need to obtain a Student Visa (subclass 500). The visa application fee is approximately AUD 1600 (INR 87,798.75, as of Nov 22, 2024).
All international students must have Overseas Student Health Cover (OSHC). The minimum cost for 12 months of coverage is AUD 478 for singles, AUD 2,600 for couples, and AUD 4,200 for families.
Books and Study Materials
The cost of books and study materials for an MBA in Australia is an additional expense that Indian students need to plan for. On average, students spend between AUD 500 to AUD 1,000 per year (INR 27,000 – 53,000) on textbooks, online resources, and other materials.
Also Read: Check here all the details about RBI Guidelines on Education Loans
Post-Graduation Work Opportunities and Salary Expectations
One of the biggest draws for Indian students pursuing an MBA in Australia is the post-graduation work visa (Temporary Graduate Visa). It allows students to stay and work in Australia for up to two years after completing their course (or up to four years for certain regional areas). Check the details below:
- In terms of salary, MBA graduates in Australia can expect to earn anywhere from AUD 80,000 to AUD 120,000 per year (INR 42.8 lakhs – INR 64 lakhs)
- This depends on their industry, experience, and role. This can help recover a significant portion of the initial investment in the program
Scholarships and Financial Aid
To eradicate the financial burden, international students may apply for various scholarships offered by Australian universities, the Indian government or private organizations. Some of the popular scholarships to study in Australia to pursue an MBA in Australia include:
- Australia Awards Scholarships: Fully funded, covering tuition fees, living expenses, and travel costs.
- Endeavour Scholarships: Available for both undergraduate and postgraduate courses.
- University-specific scholarships: Many Australian universities offer merit-based scholarships for MBA students. For example, the University of Melbourne offers the Melbourne Business School Scholarships for outstanding MBA candidates.
- Destination Australia Scholarships: Available for undergraduate and postgraduate courses at 27 Australian universities.
These scholarships can help reduce the overall cost of education, so it’s advisable to explore scholarship opportunities while planning your finances.
Studying for an MBA in Australia is an exciting opportunity, but it requires proper financial planning. From tuition fees to living expenses and other costs, it’s important to have a clear understanding of the total expenses involved. Check some FAQs based on how much does it costs to study MBA in Australia below:
FAQs
The cost of studying for an MBA in Australia ranges between AUD 30,000 to AUD 60,000 per year (INR 16 lakhs to 32 lakhs), depending on the university and program.
Living expenses typically range from AUD 20,000 to AUD 27,000 per year (INR 10.7 lakhs to 14.5 lakhs), including accommodation, food, transport, and utilities.
Top universities include the University of Melbourne, the University of Sydney, the Australian National University (ANU), and the University of Queensland.
Yes, scholarships like Australia Awards, Endeavour Scholarships, and university-specific awards are available to reduce costs for eligible Indian students.
Yes, international students can work up to 48 hours per fortnight during the semester and unlimited hours during semester breaks.
The student visa (subclass 500) application fee is approximately AUD 1600.
Yes, Overseas Student Health Cover (OSHC) is mandatory and costs between AUD 500 to AUD 1,000 per year, depending on the provider.
An MBA in Australia usually takes 1 to 2 years to complete, depending on the program and university.
Yes, MBA graduates are eligible for a Temporary Graduate Visa, allowing them to stay and work for 2–4 years after completing their degree.
MBA graduates can earn an average starting salary of AUD 80,000 to AUD 120,000 per year (INR 42.8 lakhs to 64 lakhs).
Options include university dormitories, shared apartments, or private rentals, costing between AUD 200 to AUD 700 per week.
Yes, most universities require IELTS or TOEFL scores to demonstrate English language proficiency for admission.
Books and materials cost approximately AUD 500 to AUD 1,000 per year (INR 27,000 to 53,000).
Yes, universities like Central Queensland University and Charles Sturt University offer more affordable MBA programs starting at around AUD 30,000.
Students can apply for scholarships, take education loans, work part-time, and explore cost-effective living options to manage their expenses.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
Related Blogs
