Despite increasing global competition, a ‘two-speed’ economy and the challenges posed by a high dollar, the Australian MBA sector continues to gain strength.
While there are plenty of obstacles in the way, the Australian MBA industry also has reason to be positive about the future. A strong domestic economy provides good post-study employment prospects for graduates while the standard and global credibility of an Australian MBA is also gathering pace as a result of sustained investment and a highly competitive market.
Importantly, international students continue to rate the lifestyle and the Australian ‘experience’ as one of the most important factors in their decision to study in Australia.
Differentiation from more established MBA markets in Europe and North America remains the sector’s primary challenge in international markets while improving understanding and perceptions of ‘value’ will drive local demand.
Australia’s location provides one of its key points of difference and best opportunity for growth into the future. The country’s close proximity with Asia has resulted in strong economic ties and increasingly strong political ties in the region. Business schools have been quick to react to this opportunity and are continuing to forge new relationships with local businesses which are at the forefront of Asia’s economic growth.
How does the Australian MBA landscape look today*?
- The Australian MBA market is worth about $500 million per year.
- More than 30 different universities offer an MBA degree.
- More than 20,000 students are currently completing an MBA in Australia.
- There are more than 60 different MBA courses available in Australia
- The cost of an MBA in Australia is highly competitive with European and US schools, and range in price from $AUD75,000 to $AUD90,000.
- Up to 80% of students in some MBA courses are international students.
- The top 5 countries for international students studying in Australia are China, India, South Korea, Vietnam and Malaysia.
*Analysis provided by Dr Alex Frino.