MBA in the USA or Australia – Which is better?

An MBA degree is the most sought-after post-graduate degree among International Students. It opens up wide career opportunities in the area of business administration. A huge pay package, skill sets, global networking, and knowledge make MBA the most in-demand course globally. This article will evaluate MBA in the USA or Australia – Which is better? If we simply go by the side of ranking, the USA has more top-ranked universities in the world compared to Australia. This blog post will try to weigh MBA in the USA vs MBA in Australia. Let’s check it out.  

 Why Pursue an MBA in the USA?

Here are the top reasons to pursue an MBA in the USA:

• High quality of US MBA programs: U.S. business schools, such as Harvard, Stanford, and Wharton, are top-ranking business schools worldwide. The key metrics include employability, return on investment (ROI), and alums outcomes.
• Top value of the two-year US MBA: Many students still prefer to choose the two-year US MBA to learn the core MBA syllabus, like management, strategy, and finance. Also, an MBA in the USA provides opportunities in different industries and functions through multiple MBA internships. It enables you to gain professional work experience in your future career choices.

• Learn from the top faculties with Industry experience: An MBA in the U.S. will allow you to get the latest research and industry insight exposure from a brilliant faculty base. You’ll receive an unparalleled depth of quality education.
• Launch your career with the world’s top MNCs: The top-ranked schools have strong relationships with leading employers, such as Google, McKinsey, and J.P.Morgan.
• Huge salary potential: A USA MBA graduate can expect to earn a base starting salary of $115,000 approx. For e.g. Stanford grads are some of the world’s highest-paid MBAs, with an average base salary of $160,000 after some years of experience.
• Favourable U.S. Visa Policy: Many international MBA students can now enjoy the benefits of friendlier visa policies in the U.S., thanks to the now reinstated H1-B Visas. An H1-B visa will allow you to work in the U.S. for up to a total of six years – three years initially, with another option of three years extensions.
• A Diverse Learning Environment: students worldwide attend the top MBA programs in the U.S. In a diverse environment, you’ll get tremendous advantages from the different student perspectives during class discussions and group projects.

Why Pursue an MBA in Australia?

• Wide Variety of Programs to Choose from:  Australia provides a wide variety of MBA options for students. You can choose from Finance, Marketing, and Banking to sports management.
• Graduate with a high-quality, internationally recognized qualification: An MBA in Australia will significantly push your career anywhere in the world. MBA programs in Australia have global accreditation from the AACSB and EQUIS.
• Mixture of practical and theoretical knowledge: MBA in Australia will develop your communication, personal and leadership skills. They also encourage creativity and independent thinking.
• Gain Industry Experience: International students gain work experience by completing an internship with a local company. They may also opt for an international exchange or study tour.
• Australia’s multicultural culture: An MBA in Australia will allow you to interact with students from many different cultures.

Which is better for an MBA, Australia or the USA?

Let’s take the factors while weighing MBA in the USA vs Australia are:

• Ranking of Universities
• Cost
• Alumni

a) Ranking of Universities:- It is universally known that the USA has more top-ranked universities than Australia. Key variables such as faculty, international exposure, scope of research, & funding opportunities for students play a vital role in the ranking of universities. In a way, the USA has more high-quality MBA universities than Australia. As per the recent 2022 Q.S. World University rankings, there are four U.S. Universities among the top 10 universities in the world, but not even a single Australian university. Studying for an MBA in the USA gives you an added advantage over Australia.

b) Cost of MBA program:- If you compare the cost of studying MBA, Australia quickly emerges as a winner. If the price of studying MBA is your sole condition, then Australia is far more affordable compared to the USA. However, if you are looking for better ROI and pay packages for MBA graduates, the USA is 100% ahead.

c) Alumni:- The recruitment support and alums organizations in U.S. Universities are vast and well-funded, and their support is broader and more deeply rooted than that of Australian universities.

Top Business Schools In USA

Top Business Schools in Australia

Cost of Studying MBA USA vs Australia

It is evident from the above tables that the MBA tuition fee in the USA is much higher than in Australia, as we have seen from the above tables.

MBA in Australia – Eligibility Criteria

The applicants have to satisfy the following eligibility criteria:

• A 3-year Bachelor’s degree like B.Sc or B.Com.
• A minimum of 3 years of work experience
• Required GMAT scores
• Required IELTS or TOEFL scores (English Proficiency Test Scores)

MBA in the USA – Eligibility Criteria

• A four-year Bachelor’s degree from an accredited U.S. institution or its international equivalent
• A minimum of two to three years of work experience
• Resume/CV
• Personal Statement of Purpose
• Two letters of Recommendation
• Proof of English proficiency (TOEFL – minimum scores: paper-based: 550 – 600 and computer-based 213 – 250)
• GMAT score over 600

The application process for MBA in the USA

One of the biggest hurdles that an aspirant faces is the Application process for an MBA in the USA. Many questions arise in the mind of students: when does the application process start, what are the eligibility requirements, what GMAT score is required and how much weightage is there for SOP & LOR? Let’s explain the detailed Application process for MBA in the USA

a) Research for Business schools: Research the colleges offering the desired course you want to pursue. Applicants should have a clear idea of the program he wants to pursue and their area of specialization.

b) Check Application Deadlines: Most of the MBA colleges in the USA have more than one round of deadlines. Please adhere to the application deadlines. Also, most U.S. universities recommend that students fill out applications by 1st and 2nd round. So that you have enough time for visa application. Aspirants have the choice to send the application and all documents by post or online.

c) Required Exam scores: GMAT or GRE are the two predominant exams students have to clear to take admission in management programs in the USA.

d) Required work experience: Most of the universities in the USA need students to have at least 3 to 4 years of work experience.

e) Interview: Interviews happen by invitation only for admission into MBA programs in the USA. Here, the candidate has to answer questions about his background and why he wants to pursue an MBA program.

Application process for MBA in Australia

According to Q.S. 2022-23 ranking, Australia is among the top 5 study destinations for MBA studies abroad for International Students. Let’s see the entire application process for an MBA programme in Australia.

a) Research for universities: Start researching for the universities offering your area of specialization course in Australia. The entire application process for an MBA in Australia takes about 10-12 months.

b) Check Admission Deadlines: Once you have shortlisted the university of your choice, now start chasing the admission deadlines of the universities. Usually, the session begins in February in Australia, so start applying between September and November.

c) Work experience: Most of the business schools in Australia would require work experience of 3-4 years for admission to management courses.

d) GMAT score: Besides work experience, you would also require a GMAT score to submit to gain admission into management schools.

e) IELTS or TOEFL scores: Required English proficiency test scores TOEFL or IELTS are also required.

Conclusion!

Hope you’ve liked this blog about MBA in the USA or Australia – Which is better? It may have removed the confusion about pursuing an MBA in the USA or Australia. Please like and share this blog!