collageMBA degrees are a costly affair and pursuing one abroad is an even bigger financial investment. Along with study destinations like the US, Canada, etc, business schools in Australia are also becoming among MBA aspirants. One of the reasons for which Australia is gaining popularity is that after completing your MBA in Australia, you can obtain a work permit lasting for 1.5-years to stay back. Home to some of the top-rated business schools worldwide, Australia is recognized not only for the excellent quality of education provided but also for the lucrative job prospects they offer to its MBA graduates.
You can earn as much as 82,000 AUD a year as an MBA graduate working in Australia. This for an Indian student makes up to 46.36 lakhs INR a year. You can expect to make an annual bonus of around 22,900 AUD. The Australian jobs market is exploding with opportunities and also boasts ranking among the top 10 countries for highest MBA salaries in the world. One can safely say that if not the highest, MBA graduates are offered one of the highest packages in Australia
Read on top find out about the top recruiters, highest paying specializations, and best ROI universities for MBA in Australia.
Top Recruiters for MBA Jobs in Australia
The demand for MBA graduates is high across industries and throughout the labor market. Some of the industries where MBA graduates are offered competitive salaries include banking and finance, marketing, manufacturing, consulting, etc. Mentioned below is a list of top-10 recruiters offering MBA jobs in Australia as listed as per their annual salary package.
| Recruiters | Average Annual Salary (AUD) |
|---|---|
| Commonwealth Bank of Australia | 84,000- 165,000 |
| ANZ Banking Corporation | 45,000- 225,000 |
| Woolworths | 123,000- 225,000 |
| Telstra Corporation Ltd | 126,000- 155,000 |
| Westpac Banking Corp | 66,00- 135,000 |
| Allianz Global Investors | 132,000 |
| JP Morgan | 158,000 |
| Barclays | 132,000 |
| Fidelity Investments | 133,000 |
| HSBC Global Asset Management | 107,000 |
It is needless to mention that global giants like EY, Deloitte, PwC, and KPMG offer even higher and competitive salaries. However, mentioned above are certain local Australian employers offering sky-rocketing salaries to their employees.
Popular Specializations for MBA Jobs in Australia
Students and professionals invest in an MBA degree for mainly one reason, better career prospects. MBA specializations are evolving with every passing day and hence, students and professionals choose to opt for MBA degrees aligning with their career growth. Besides the traditional General MBA, you can now graduate with an MBA degree in Arts Management, Engineering Management, Small Business Management, and many more.
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With the evolution of specialization, roles and requirements of recruiters have also modified as per skills availability. Hence, you may often find that after completing your MBA in Australia, you will be absorbed in sectors that are the best fit for your skillset.
MBA Jobs in Australia with Finance
A finance specialization in MBA gives you rigorous training in accounts to help you develop financial insight. MBA finance majors are sought out by companies to guide their business spendings and financial decisions.
According to the job vacancy statistics provided by the Australian Government, the job vacancy postings for finance MBA graduates is over 6,000 annually. Furthermore, the employment rate of Finance MBA majors is estimated to grow by 6.9% to 7.2% in the next 5 years.
| Job Role | Top Recruiters | Average Salary (AUD) |
|---|---|---|
| Business Analyst | Westpac Banking Corp | 62k- 110k |
| Case Manager | Allianz | 48k- 85k |
| Senior Business Analyst | Cognizant | 67k- 111k |
| Risk Manager | Commonwealth Bank of Australia | 87k- 164k |
| Management Consultant | Deloitte Consulting LLP | 52k-144k |
MBA Jobs in Australia in Human Resources (HR)
Human Resources is another traditional MBA specialization that has a steady job market since all organizations require managers skilled in employee management. HR Managers are responsible for managing employee relations, enhancing performances, recruiting, standardizing benefits and compensations etc.
The HR sector is estimated to witness an employment growth of around 15.5% by May 2024. There are around 6,400 job postings online seeking Human Resource MBA graduates in Australia per year.
| Job Role | Recruiters | Average Salary (AUD) |
|---|---|---|
| Human Resource Manager | Atherton | 80k |
| Employee Relations Manager | Hays | 90k |
| Performance Manager | West Recruitment | 92k |
| Recruitment Manager | Randstad Australia | 84k |
| Benefits & Compensation Manager | World Courier | 92k |
MBA Jobs in Australia in Marketing
MBA graduates specializing in Marketing find employment in roles where they are responsible for planning, budgeting and leading one or more campaigns for their organization.
There are around 2,300 job vacancies in the Australian Labour Market and the employment rate for marketing professionals is expected to grow by 12.9% within a 5 year period.
| Job Role | Recruiters | Average Salary (AUD) |
|---|---|---|
| Marketing Manager | Westpac Banking Corporation | 103k |
| Maintenance Manager | ASC_PTY Ltd | 79k-176k |
| Senior Product Manager | Telstra Corporation Ltd | 87k- 202k |
| Account Manager | Zomato | 40k- 65k |
| Senior Business Analyst | ANZ | 81k- 143k |
MBA Jobs in Australia in Sales
Sales managers are essential to most organizations since they possess the skills of financial management, resource allocation and strategic planning. MBA Sales graduates not only have a knack for selling but also push their entire sales teams towards higher sales records.
According to online job portals, there are over 2000 vacancies for sales professionals in the Australian job market currently and it may grow by another 14.3% by 2024 as per reports from the Australian Labour Market Information Portal.
| Job Role | Recruiters | Average Salary (AUD) |
|---|---|---|
| Regional Sales Manager | Wipro Ltd | 95k |
| Retail Store Manager | Adidas | 46k-71k |
| Business Development Manager | APCD Pty Ltd | 54k-122k |
| Sales Consultant | Simonds Homes | 38k-77k |
| Area Sales Manager | GFG Alliance | 55k-112k |
MBA Jobs in Australia in Operations
Students who graduate with an operations specialization in MBA can find employment in leading manufacturing processes, delivery processes, facilities management etc.
The employment growth rate for operations graduates in Australia is projected to grow by 11.9% in the next 5 years.
| Job Role | Recruiters | Average Salary (AUD) |
|---|---|---|
| Operations Manager | CHEP | 98k |
| Project Management | Wipro Ltd | 99k |
| Category Management | Woolworths Supermarkets | 97k |
| CEO | The Alternative Board of Australia | 143k |
| Process Improvement Management | Rheinmetall Defense | 99k |
Highest Paying Universities for MBA Jobs in Australia
As per the QS News Global University Rankings, 13 business schools in Australia are ranked among the top 250 management schools in the World. Tabulated below is a detailed list of top business schools in Australia offering MBA along with the tuition fees they charge and the salaries MBA graduates from these schools earn.
| B-School/University | Tuition Fee (USD) | Average Salary (USD) |
|---|---|---|
| Melbourne Business School | 62,198 | 123,000 |
| AGSM Business School | 60,043 | 119,000 |
| Monash University | 61,156 | 133,000 |
| Macquarie Graduate School of Management | 54,993 | 152,000 |
| UWA Business School | 41,488 | 137,000 |
| University of Queensland | 56,157 | 201,000 |
| ANU College of Business & Economics | 49,911 | 97,000 |
| Deakin Business School | 43,514 | 131,000 |
| RMIT University | 59,393 | 90,000 |
| La Trobe Business School | 41,451 | 67,000 |
Highest Paying Provinces for MBA Jobs in Australia
Australia comprises 3 main regions, the Capital Territory, Western Australia and southern Australia. The average salary you earn as an MBA graduate will vary not only according to your job title but also according to your location. Mentioned below are the average salaries of MBA graduates in different job roles across the continent.
| Province | Average Salary (AUD) |
|---|---|
| Western Australia | Operations Manager- 93k Project Manager- 111k Retail Store Manager- 55k |
| South Australia | General Manager- 90k Retail Store Manager- 53k Operations Manager- 79k |
| Australian Capital Territory | Management Consultant- 117k Project Manager- 109k Operations Manager- 88k |
Highest Paying Cities for MBA Jobs in Australia
The graphical image below compares salaries offered across various cities in Australia for four major sectors- Banking, Sales, HR, and Marketing:
How to Find MBA Jobs in Australia?
Since MBA is a professional degree there is much emphasis on placements. Many top universities in Australia offer internship integrated MBA curriculum. Furthermore, they also have dedicated career centers to help students connect with potential employers. You can also look for jobs online through popular job portals in Australia, like Seek, CareerOne, Careerjet, Gumtree, Adzuna, etc.
Portals for MBA Jobs in Australia
- Adzuna: This popular Australian online job portal ensures job postings connect with a vast audience. Additionally, it is integrated with offline media such as newspapers to further broaden the reach.
- CareerOne: CareerOne is unique among job posting websites since it does not limit itself to vacancy postings only. Visitors on this website can also seek career counseling and request a resume evaluation.
- CareerJet: CareerJet has an online presence in 90+ countries including Australia. It has the functionality of presenting the best possible candidates for a job based on their level of experience and area of expertise.
- Gumtree: Gumtree Australia has a page where employers can post vacancies available and connect with potential employees. It is especially popular in manufacturing & construction, hospitality management and services industries.
- Seek: Seek is an Australian job posting website. It is especially popular among job seekers since it has a company reviews board from which applicants can gather a fair idea about a company’s culture and work ethic.
University Career Placement Programs for MBA Jobs in Australia
Most top business schools in Australia have highly streamlined career services teams working with the aim of getting the maximum number of MBA graduates placed with suitable employers.
- Melbourne Business School MBA graduates have found employment with prestigious organizations such as Deloitte, Johnson & Johnson, Commonwealth Bank etc.
- Students from Macquarie Graduate School of Management earn an average of 128,000 AUD and MBA graduates from AGSM at UNSW Business School earn 120,000 AUD.
Offering internships or career intensive courses is how universities in Australia are streamlining possibilities of finding jobs, networking, and connecting employers to their students to help graduates get placed as soon as they enter the market with a degree.
Post Study Work Stream for MBA Jobs in Australia
International students who have completed their MBA degrees from a recognized Australian educational institute may apply for a post-study work visa under the Temporary Graduate Visa (subclass 485).
Depending on the type of your degree you may be granted a work visa for 2-4 years. This visa allows graduates to temporarily work in Australia and also allows them to bring their immediate family members to the country. You must apply for the work visa before your student visa expires. The cost to apply for the visa is 1,650 AUD and the processing time varies from 3-7 months.
Australia has a liberal policy towards permanent residence permits for skilled international workers. Professionals may apply for a permanent residence permit via employer nomination, regional sponsor nomination or apply for permanent residence through the General Skilled Migration Scheme.
Finding jobs in Australia with an MBA degree may seem a tiresome task, but the collective measures of universities to bring employers and students under one-roof has over the time improved. Additionally, Australia has fought back well in the current times of a pandemic, which in turn did not affect the economy and employment growth rate in major sectors. Hence, if you have recently graduated or are planning to do MBA in Australia, there is an abundance of opportunities with cushy median salaries waiting for you.
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