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Studying MBA is a dream for many international students. Obtaining a master of business administration degree from one of the top countries and top universities in the world is truly inspiring because it allows students to learn languages and explore other cultures, along with a high standard of education and international exposure.
Because of the huge career prospects in the USA, an MBA is one of the top programs that overseas students choose to study in the US. In accordance with data from the United States Department of Education, each year, around 1,25,000 international students move to the USA to study MBA.
On the other hand, more than 20,000 students are presently completing an MBA in Australia for Indian students. Up to 80% of students in some MBA programs are international students.
The MBA is one of the most coveted and sought-after professional qualifications because it will enable candidates to experience business culture and business behaviour on a global scale. Be it awareness about international business management and the global market, or international industrial exposure, an MBA degree abroad will give you a taste of the global economy.
When international students choose a country to study MBA, among other countries, like France, Singapore, New Zealand etc., beyond question, many of them list the US and Australia at the top of the list. Now the question is – why MBA in Australia or why MBA in USA for Indian Students? Read on to learn about the MBA in Australia Vs MBA in the USA.
Why Study MBA in Australia for Indian Students?
Australia's multiculturalism means international students will have the opportunity to study alongside building a global network. You will get a chance to share your ideas and innovative skills with students from many different cultures. This will give you a broad cultural perspective on management. MBA in Australia for Indian students is no doubt a great option. You will also have the opportunity to study in an environment that merges Eastern as well as Western perspectives of business and management.
Why Study MBA in USA for Indian Students?
Business schools in the USA ranked in the world for academic excellence. The two-year MBA in USA for Indian students are based on core papers such as management, strategy and finance, marketing and operations in the first year and specialized in electives in the second year. Job Opportunities are beyond doubt huge after completing an MBA from one of the top B-schools in the United States: An MBA in the USA will help international students launch careers with top multinational corporations, and the earning potential is huge.
MBA in USA Vs MBA in Australia
Australia is normally cheaper to study than the US. International students can work part-time in both countries while studying MBA. An MBA graduate gets an average salary in the United States of $115,000. On the other hand, the average compensation for MBA graduates in Australia stands at USD 145,000 with rather handsome bonus clauses thrown in. Now, you may think it is better to do an MBA from Australia than the USA. But the thing is – the average salary differs from University to University and specializations.
Not all MBA graduates get the same salary per annum. It totally depends on specialization and obviously your knowledge and experience. The USA has more highly regarded universities in the world than Australia, even though this is far from the only factor that separates these two countries when you plan to study MBA. Considerations regarding the admission cycle, cost of the program, placement, and required job experience must be made in order to reach an appropriate conclusion.
Top Universities in Australia Offer MBA Program
Australia is home to several prestigious universities that offer MBA programs. These programs are highly regarded globally. However, it is important to note that the rank of the universities of Australia may change over time, so you check the most recent information available by visiting the University websites.
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University of Melbourne - Melbourne Business School
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University of Sydney - University of Sydney Business School
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Australian National University - ANU College of Business and Economics
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University of New South Wales - UNSW Business School
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University of Queensland - UQ Business School
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Monash University - Monash Business School
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University of Western Australia - UWA Business School
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University of Adelaide - Adelaide Business School
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Queensland University of Technology - QUT Business School
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University of Technology Sydney - UTS Business School
Top Universities in USA Offer MBA Program
The MBA program offered by US Universities is highly sought after and respected worldwide. You will have an abundance of MBA specializations and a number of scholarships available for international students. This is not an exhaustive list, and there are many other excellent MBA programs in the United States.
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Stanford University - Stanford Graduate School of Business
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University of Pennsylvania - The Wharton School, University of Pennsylvania
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Massachusetts Institute of Technology - MIT Sloan School of Management
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Northwestern University - Kellogg School of Management
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University of Chicago - Chicago Booth School of Business
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Columbia University - Columbia Business School
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University of California, Berkeley - Haas School of Business
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Dartmouth College - Tuck School of Business at Dartmouth
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Yale University - Yale School of Management
The Verdict
You will get top-ranked Universities, both in the USA and Australia. So you can’t judge your MBA degree only with the University and curriculum. In accordance with a report published by HSBC, Australia is one of the costliest destinations in the world, with an annual cost of living of USD 18,012.
In comparison to the MBA in Australia for Indian Students or USA MBA fees, you need just USD 11,651 to get through in the United States. But the tuition fees for the MBA program in both the countries are almost identical. A majority of management aspirants think MBA in USA for Indian students is the best option.
In the USA, it is USD 24,914, and in Australia, it is USD 24,081. However these tuition fees for MBA programs are the average of an aggregate of different programs, and are not an indicator of MBA tuition fees in Australia or for that matter MBA tuition fees in the United States. So, if you are planning to study MBA in USA or Australia, it would depend on if you want to take calculated risks or put all your eggs in one basket!
