Melbourne Business School has again come out top in the latest ranking of Australian MBA programs, with local programs continuing to climb their way up the list of the world’s best MBAs.
The latest QS Top Universities Global MBA Rankings for 2021 were released overnight with a total of 12 Australian programs ranked in the top 250 in the world.
Melbourne Business School (26th) held its position as the top-ranked program in Oceania, while AGSM @ UNSW, climbed one spot to 41st and Monash jumped 16 places from 89th in 2020 list to 73rd this year.
|2021 Global Rank||2020 Global Rank||University/School|
|26||26||Melbourne Business School|
|41||42||AGSM @ UNSW|
|73||89||Monash Business School|
|95||121-130||Macquarie Business School|
|99||111-120||UQ Business School|
|101-110||131-140||University of Western Australia Business School|
|121-130||151-200||Australian National University|
|141-150||Not ranked||UTS Business School|
|151-200||151-200||La Trobe Business School|
|151-200||151-200||RMIT University School of Business and Law|
|151-200||Not ranked||UniSA Business School|
|1510-200||151-200||Wollongong University (Sydney Business School)|
The Monash result comes after Monash University ranked in the top 5 per cent of universities overall in the QS World University Rankings 2021, rising three places to 55th globally.
Monash Business School’s Director of MBA programs, Professor Patrick Butler, said the latest results cemented Monash’s reputation as a world-leading institution for executive learning.
“The Monash MBA is focused on producing the next generation of top-tier leaders, whether they be corporate heads of business, leaders of small and medium-sized enterprises (SMEs) or start-up entrepreneurs,” Professor Butler said.
“Our MBA programs are dynamic and agile, equipping today’s executives with the business acumen and social skill set to not only lead but also drive positive change in the evolving global business economy.”
Monash prides itself on a diverse cohort; the 2020 MBA intake comprises an equal split of men and women from 11 countries, with 17 industries represented. The sectors with the highest concentration of MBA students are construction, manufacturing, and medicine and allied health.
Globally, the 2021 ranking was headed by Standford Graduate School of Business, Penn University (Wharton) and MIT (Sloan).
To determine the rankings, QS uses a number of data points to determine return on investment. Return on Investment makes up 20% of the overall weighting, which is further broken down into 10 Year ROI (15%) and Payback Month (5%).
In 2021, University of Western Australia topped local business schools for graduate salaries three-month after the end of their degree with an average salary of nearly $200,000. This compares favorably with the best schools in the world with graduates from the top ranked global school (Wharton) have an average salary of $216,554 ($USD152,503).
|University/School||USD Average Salary (Post 3 Months)||AUD* Average Salary (Post 3 Months)||Average Age|
|University of Western Australia Business School||$140,128||$198,982||34|
|UnisSA Business School||$122,976||$174,626||37|
|Melbourne Business School||$112,900||$160,318||30|
|UQ Business School||$105,892||$150,367||37|
|Monash Business School||$103,129||$146,443||31|
|Macquarie Business School||$101,488||$144,113||33|
|AGSM @ UNSW||$85,000||$120,700||ND|
|Wollongong University (Sydney Business School)||$76,628||$108,812||30|
|La Trobe Business School||$76,019||$107,947||38|
|RMIT University School of Business and Law||$53,208||$75,555||25|
SOURCE: QS Global MBA Rankings. ND = Not Disclosed. * Exchange rate of $AUD1.42 = $USD1.00.
The QS Global MBA Rankings is designed to highlight the best MBA programs across the world. This year QS ranked 258 programs from 40 study destinations. Data was collected in early 2020, using three surveys; the QS Global Employer Survey, the QS Global Academic Survey and a survey completed by the business schools themselves.
The survey completed by schools covered quantitative indicators such as the salary of graduates and class profile. A total of 13 criteria form the basis of five key indicators that programs were ranked on: ‘employability’, ‘entrepreneurship and alumni outcomes’, ‘return on investment’, ‘thought leadership’ and ‘class & faculty diversity’.
To be included in the Global MBA Rankings 2021, the program must be taught mainly on-campus (i.e. not distance-learning), be taught full-time (or be full-time equivalent) and have an average class size of at least 15 students. All schools must be accredited by either AACSB, AMBA, EFMD (EQUIS).
UWA Comes Out Tops For Entrepreneurship and Alumni Outcomes
The University of Western Australia Business School’s MBA program was ranked number one in the Oceania region for Entrepreneurship and Alumni Outcomes and 6th in Australia. The rankings also rank the UWA MBA program second in Oceania for return on investment and sixth for thought leadership.
Professor Peter Robertson, Dean and Head of School of the Business School, said the ranking underlined the quality of UWA’s MBA program.
“It highlights UWA’s position as an educational institution for budding executive leaders, entrepreneurs and those pursuing career changes or career progression,” Professor Robertson said.
“MBA students have multiple opportunities to network with UWA Business School Board members throughout their course, in addition to receiving individual career coaching and mentoring through the MBA Career Services Manager.”
Professor Allan Trench, MBA Programs Director at UWA, said the personalised approach supported students and helped them develop skills highly sought after by employers.
“Our MBAs and graduates have told us they value the personalised approach we give them in terms of career mentorship, networking opportunities, and practical projects,” Professor Trench said.
“We have received feedback that the MBA degree offers flexibility and adaptability, preparing them well for the workforce and jobs of the future.”