Australia is one of the most popular study destinations in the world. More than a quarter of the student population are foreign nationals. This figure reaches almost 50% in some universities. And who can blame them? Australia offers endless golden beaches and amazing natural landscapes. It has one of the seven wonders of the world (the Great Barrier Reef), a multitude of vibrant cities, and, of course, a world-class higher education system. It isn’t a cheap place to study, but as the old adage goes, you get out what you put in.
Universities and MBA schools in Australia make up a significant proportion of the very best in the world, perhaps bettered only by the US and the UK in terms of ranking. Those who come to pursue an MBA in Australia will be struck not just by the internationalism of the country, but also by its technologically-advanced, world-class campuses. It is one of the undoubted global hotspots for international students. The country has already transformed the lives of millions of students. Will you be next?
Frequently Asked Questions
FAQ
How much will it cost to live and study in Australia?
The country’s pre-eminence in higher education and excellent living standards make it an expensive place to study. Master’s degrees are likely to cost in the region of EUR€20,000 per year on average, though expect significant variations throughout the country. The average cost of an MBA in Australia is around EUR€34,000, taking into account both domestic and international students. International students should expect to pay higher fees. In terms of living costs in Australia, the government estimates the monthly rent to range anywhere from EUR€250 per month in shared accommodation to over EUR€1,000 for your own flat.
Do I need to get a visa to live and study in Australia?
The requirements for an Australia student visa are fairly stringent and applicants will need to provide proof of funding, health insurance, and proof that they are a temporary entrant into Australia amongst other things. The Australian government has a useful tool to determine what visa you will need and the documentation you will require.
How reputable are universities from Australia?
In any rankings list, Australia’s universities feature prominently. Of the most prestigious lists, the Shanghai Ranking has seven Australian universities in the top 100 while the Times Higher Education Ranking and QS both have six Australian institutions in their top 100.
What is the job market like for graduates in Australia?
The Australian economy is one of the strongest in the world and has seen almost non-stop growth since the 1980s. A government-funded study in 2019 discovered an 87% employment rate amongst Australian graduates, while those holding postgraduate degrees were found to have a 40% higher starting salary than undergraduates.
Are there a lot of international students in Australia?
Australia has the highest international student population per head of any country in the world, making up 26% of the total student population.
Did You Know?
Fun Facts About Australia
1
Australia has six of the world’s top 100 universities.
2
According to QS Best Student Cities 2019, almost all of Australia’s major cities (Melbourne, Sydney, Brisbane, Canberra, Adelaide, Perth, and the Gold Coast) are in the world’s top 100 student cities.
3
The Australian Government has invested more than A$300 million in scholarships for international students.
4
Australian universities have produced 16 Nobel laureates – from the 1945 prize for the discovery of penicillin to the 2017 prize for the International Campaign to Abolish Nuclear Weapons.
5
There are three sheep for every person in Australia.
Which Visas & permits do in need in Australia
The requirements for an Australian student visa are fairly stringent. Applicants will need to provide information such as proof of funding and health insurance. You also have to prove that you intend to return home after studying in Australia. With a student visa, you can also bring family members to Australia. It also entitles you to work unlimited hours in any sector during your MBA studies in Australia. Post-graduation, international students can obtain a temporary graduate visa. This will allow you to live, study, and work in Australia temporarily after you have finished your studies.
Costs of a student visa in Australia The cost of a student visa in Australia is A$630 (around US$450). The cost of a temporary graduate visa is A$1,680 (US$1,200). Get more information about student visas and permits in Australia.
Banking in Australia
If you want to do an MBA in Australia, you’ll need to have an Australian bank account to pay your bills such as rent, and if you’re considering working in Australia. The four major banks in Australia are Westpac, Commonwealth Bank (Commbank), Australia New Zealand (ANZ), and National Australia Bank (NAB). As an international student, you can open a bank account before or after you arrive in Australia. You’ll need to provide documentation. Among others, you need proof of identity as well as confirmation of enrolment.
Verification of identity Most banks will require you to verify your identity personally at a branch in Australia. Only then will you be allowed to withdraw funds. You might also need an Australian Tax File Number (TFN). You can find more information about getting a TFN on the Australian Tax Office website.
What do I need to know about healthcare in Australia
As an international student in Australia, you’ll be required to have Overseas Student Health Cover (OSHC) for the entire duration of your studies. OSHC insurance covers visits to the doctor, some hospital treatment, ambulance cover, and limited pharmaceutical medicines. Some exceptions might apply if you are a student from Sweden, Norway, or Belgium – in this case, you need to check if you are exempt from the requirement to purchase OSHC.
Along with OSHC, you can also purchase other types of insurance. You can get private health insurance (to cover items OSHC does not cover), travel insurance, home and contents insurance (to cover the building you live in and your belongings), and vehicle insurance.
Housing options for students in Australia
On-campus Some universities provide housing for their students through residential colleges, halls of residence, or apartments. Generally, on-campus accommodation costs around A$80 – A$250 per week, but prices and availability vary according to the university. Therefore, you should contact your institution before arriving in Australia. International students should apply early, as these accommodation options are limited and very popular.
Off-campus The majority of students in Australia live off-campus. Most students in Australia choose to share the cost of a rental property with several housemates. Rental accommodation typically costs around A$100 – A$400 per week and shared rental accommodation costs around A$70 – A$250 per week. These accommodations normally require payment of rent in advance, as well as a security deposit. This deposit is usually equal to one month’s rent and must be paid upfront.
What are the public transport options in Australia
Getting around in Australia during your MBA studies is fairly easy. Public transport options in Australia include buses, trains, trams, and ferries. Access to these transport services will vary depending on where you live. You can also take taxis or other public car services to take you door-to-door. Different states and territories in Australia offer different types of transport concessions for international students. For example, international students are generally not entitled to transport concessions in New South Wales, but full-time international students studying at a Queensland education institution are eligible for concessions on public transport. Find more information about Australian transport concessions in each state and territory.
If you hold a current driver’s license in your home country, you might be able to drive in Australia without sitting for any further driving tests. However, many state and territory governments require you to get an Australian driver’s license or International driver’s license if you are here for more than three months.
How much does a Big Mac cost in Australia
The Big Mac Index was invented by The Economist in 1986 as an informal way of measuring the purchasing power parity (PPP) between two currencies. The price of a Big Mac in Australia is A$6.40 (equivalent to US$4.50, EUR€4.01, and JP¥529.90). For US$50, you can buy 10 Big Macs.
As of October 2019, the 12-month student living costs are A$21,041 (US$15,000). You can find a full breakdown of living expenses in Australia. The Insider Guides Cost of Living Calculator also provides a useful tool to help you find out how much it would cost to have the lifestyle you choose in Australia.
