Melbourne is a well-known city known for its flourishing commercial scene, gorgeous architecture, and dynamic culture. A variety of undergraduate and graduate programmes are offered to students from all over the world by some of the best business schools in the nation, which are located there. These universities equip students with the abilities and information required to thrive in the cutthroat business climate of today by placing a strong emphasis on innovation, entrepreneurship, and global views. The best business schools in Melbourne will be discussed in this post, along with what makes them unique.
The top 2% of b-schools worldwide include business schools in Melbourne. Melbourne Business School, which routinely ranks in the top 100 worldwide according to FT Rankings, is likewise located in Melbourne City. Every business school in Melbourne has a placement rate for MBA students that is extremely high and often hovers around 90%.
Understanding the Term “business School”
A business school is an academic or professional organisation that awards degrees in business administration or management.The terms school of management, management school, school of business administration, or simply b-school or biz school may also be used to refer to a business school. Business schools offer instruction in a variety of subjects, including accounting, administration, business analytics, strategy, economics, entrepreneurship, finance, human resource management, management science, management information systems, international business, logistics, marketing, sales, operations management, organisational psychology, organisational behaviour, public relations, research methodologies, real estate, and supply chain management.
Why to Choose Melbourne for Studies?
Australia provides a wide choice of business diplomas at a huge number of schools around the country, from bachelor degrees in business and commerce to the coveted master of business administration (MBA). The toughest part is deciding which one to pursue! There are several specialisations available, including new ones like sports management and hospitality management, as well as traditional ones like accounting, banking, business information systems, economics, finance, logistics, human resource management, and international business. In order to prepare students for the job or serve as a stepping stone to higher education, the Vocational Education and Training (VET) sector also provides practical courses in subjects including business, bookkeeping, and accounting.
A diversified and hospitable atmosphere for visitors from all over the world is created in Melbourne by the presence of almost 140 different cultures. Melbourne is therefore typically regarded as the greatest location in Australia for international students. Also among the top 2% of b-schools worldwide are Melbourne's business schools. Melbourne Business School, which routinely ranks among the top 100 schools worldwide, is likewise located in Melbourne city. Every business school in Melbourne has an impressively high placement record for MBA students, which ranges from 90% to more than 99%.
Courses at Business Schools in Melbourne
Some of the most well-liked programmes offered by Melbourne Business School include the MBA, international business, business analytics, management, and eight doctoral research degrees. The Melbourne Business School offers the following specialisations for its MBA programme.
- Data Analysis
- Finance
- Leadership
- Marketing
- Managerial Economics
- Operations & Business Strategy
- Managerial Ethics and the Business Environment
Top Business Schools in Melbourne
1.Monash University:
Australia-based Monash University is a prominent research institution. The institution, which was founded in 1958 and has locations on four continents, is a global leader in research and teaching. Over 86,000 students attend the institution, with 35% being international applicants. At Monash University, prospective students can select from more than 530 degree programmes at various levels. Graduate applicants at Monash University must have a bachelor's degree with an overall average of 55 to 60 percent. Candidates for undergraduate programmes must provide a high school diploma with a minimum score of 60 to 70%. Across all academic levels, Monash University charges an average tuition price of about 50,000 AUD (27.42 lakhs INR). According to reports, Monash University graduates get an average salary of 73,000 AUD (40.02 lakhs INR) each year. Numerous undergraduate, postgraduate, MBA, entrepreneurial, and executive MBA programmes are offered at Monash Business School, which is ranked in the top 1% of all business schools worldwide. Over 16,307 people are enrolled in the b-school, including 12,852 undergraduate and 3,282 graduate students. By QS Global Rankings 2022, Monash University's MBA programme is ranked #73.
2.Melbourne Business School:
The University of Melbourne and the business community jointly own Melbourne Business School, which The Economics 2021 recognised as the best business school in Australia. Melbourne is home to two MBS centres: the Centre for Business Analytics and the Centre for Sustainability and Business. Melbourne was named the World's Most Liveable City by the Economist Intelligence Unit. In addition to its well-known MBA programme, MBS also provides a degree in business analytics, short courses for students, and tailored services for businesses.
3.Rmit School:
The largest institution of higher learning in Australia is RMIT. Approximately 30,000 students attend it, with more than 25% being international. Including foundation studies, certificates, and diplomas, RMIT provides more than 500 UG and PG programmes to students at all levels of study. Art and Design, which is rated at #15, and Architecture, which is listed at #28, are two of RMIT University's top courses by QS World University Rankings by Subject - 2022. In Melbourne, Vietnam, Singapore, and China through collaborations, RMIT University is home to 26,000 students. Opportunities for placement are available at the b-school's 60 partner firms.
4.La Trobe Business School:
The La Trobe Business School is a public school in Victoria, Australia with a history of 50 years in the field of education. It was founded in 1967. In Australia, the School with AACSB accreditation is a well-liked option for higher education. Furthermore, according to the QS World University Ranking, the La Trobe Business School is placed second in Australia for its Masters in Business Analytics programme. The ERA Rankings gave it a "Well above the world standard" rating for its banking, finance, and investment programmes. Currently, the school has 36,000 students enrolled, of which 7000 are foreign students from over 110 different nations. ATAR ranking and an English proficiency test score of 6.00 on the IELTS or an equivalent are used to determine admissions. Depending on the programme selected, La Trobe Business School's typical tuition ranges from AUD 30,000 to AUD 45,000. However, the institution also offers overseas students scholarships in Australia that can cover up to 25% of the tuition costs.
5.Deakin Business School:
One of the best business schools in Australia is Deakin Business School (or DBS), which is a division of Deakin University in Melbourne. At DBS, prospective students have a choice of 24 study areas for bachelor's and master's degree programmes. The school's full-time MBA programme, which has received a 5-star rating from the Graduate Management Association of Australia, is its most well-known offering. Through its 4 research centres and 8 divisions, Deakin Business School also provides a PhD in business and research possibilities. The Deakin Business School's general entry criteria must be met by applicants. Admission to undergraduate programmes requires an IELTS score of 6.5 or higher and a Grade 12 GPA of 65%. Admission to the international MBA programme at Deakin Business School requires a bachelor's degree in a related discipline and two years of work experience.For Indian students, Deakin Business School is relatively pricey. The overall cost of attending Deakin Business School's undergraduate programmes ranges from 17.03 lakhs to 20.32 lakhs of Indian rupees. The price of tuition for postgraduate programmes like the MBA is around 24.72 lakhs Indian rupees. However, Deakin Business School offers a variety of scholarships that are open to overseas students. Indian students are eligible to apply for the Deakin India Merit Scholarship, which provides a 20% tuition discount. Candidates may also take into account other Australian scholarships.
6.Victoria Graduate School of Business:
Located in the bustling central business sector of Melbourne, Victoria University Graduate School of Business is a division of Victoria University. Australia's best choice for an MBA programme is Victoria College, which is ranked in the top 2% of universities worldwide by THE World University Rankings. Victoria University Graduate School of Business offers programmes in finance and accounting, marketing, management, hospitality, and event management. It also offers UG, PG, PG certificate, PG diplomas & certificates, TAFE diplomas & courses, short courses, PG research, and higher education diplomas in these areas.The b-school offers three intake periods: February, July, and November. Applicants can apply online through the institution or through a local agent. For UG courses, students must have a minimum IELTS score of 6.0, and for PG programmes, a minimum score of 6.5. For admission to any UG course, candidates from India must have either an ICSE and CBSE score of 65% or an HS score of 70% from the State Board. A 50% GPA in undergrad is required for admission to the PG programme. Candidates that have relevant job experience are more likely to be chosen by the institution.
7.Swinburne University:
Swinburne University's School of Business, Law, and Entrepreneurship provides a variety of undergraduate and graduate programmes that give students a thorough education in business, law, and entrepreneurship. By providing a balance of academic knowledge and practical skills, the school's programmes aim to equip students for success in the competitive and quickly evolving business world. The faculty is made up of skilled academics and business experts who are dedicated to giving students a top-notch education that will prepare them for the workforce. Modern resources and facilities are also available at the institution to aid in teaching and supporting research by students. The School of Business, Law, and Entrepreneurship at Swinburne University is influencing the direction of business education in Australia and throughout the world with its cutting-edge programmes and dedication to quality. The Association to Advance Collegiate Schools of Business (AACSB) International has granted accreditation to Swinburne University in recognition of the institution's demonstrated commitment to quality in all aspects of its purpose, including teaching, research, the creation of curriculum, and student learning. Only 5% of the top business schools in the world share the prestigious AACSB certification, which is a mark of the greatest calibre. Swinburne is one of these institutions. The certification also demonstrates the institution's dedication to constant development across all facets of its operations.
Admission Requirements for Business Schools in Melbourne
1.Resume:
You must update your CV as part of the business school criteria if you plan to apply to prestigious colleges overseas. Take it carefully because it is an important component of your application. You must be aware of the principles and culture that the business school promotes in order to integrate them into your resume and create a successful one. Here are some suggestions to assist you:
- As admissions officers will read it, keep it formal.
- Explain any gaps in your schooling or professional experience in detail if there are any.
- International students are expected to possess a specific set of skills, including leadership, teamwork, and the capacity to tolerate difference. Be sure to address these in your CV.
- Keep it brief and direct. (A page would be ideal)
2.Entrance Exam Scores:
A strong test performance is another need. You must pass admission examinations like the CAT, XAT, or university-specific tests if you're applying to a standard business programme in India. On the other hand, GMAT or GRE scores are necessary if you want to enrol in a foreign university. In both situations, these scores are crucial in determining whether you get into the institution. You may get in touch with our professionals at JAGVIMAL if you wish to spare yourself from this bother.
3.Work Experience:
Work experience is the next prerequisite for the MBA degree. Candidates with 2 to 5 years of work experience apply for the MBA programme since it is a professional programme. While some applicants wish to change their career and area, others are aiming to up-skill themselves in order to receive a higher evaluation. A rich job is promised with an MBA degree. So, before beginning your MBA career, you wish to get some experience in the business world. You may use this information in your MBA lectures as well.
4.Proper Qualification:
In case you are applying for the graduate course you will need to have appropriate academic proof of senior secondary schooling. Also in case of post-graduate programs, a bachelor degree is required.Only bachelor's degrees in business administration and management were formerly permitted for MBA programmes. But today, all types of bachelor's degrees are accepted by Indian and international business schools. Every university has a different set of MBA requirements. As a result, different percentages will be needed overall for the programme.
5.Letter of Recommendation (Lor):
At least two recommendation letters are required by all international business schools. These are the appropriate referral sources:
- Managers (Current or Former)
- Colleagues
- Clients
- Professors or Mentors
- Someone who has seen you in leadership roles
You must put quality over seniority if you want to complete this prerequisite. To demonstrate your qualities and skills in front of the admissions committee, surround yourself with expressive individuals. You'll need to collaborate closely with your recommender and explain the steps and goal to them. The talents you described in your essay should be reflected in your LOR.
6.Proof of English:
When applying to prestigious colleges overseas, proof of your English language proficiency is crucial. These assessments are required of all overseas students who do not speak English as their first language in order to demonstrate their language ability. These are the MBA English examinations that are most frequently recognised.
- Test of English as a Foreign Language (TOEFL)
- International English Language Testing System (IELTS)
- Pearson Test of English (PTE)
7.Interview:
The interview is the last step in the admissions process. Your ability to enrol at your ideal business school depends on this prerequisite. As a result, you must get ready in advance. Whether you will be a good match for the course or not is being confirmed at this stage as well by the admissions committee and department leaders.
