Australia is one of the world’s significant study destinations that welcome MBA aspirants for various specializations. So, when my cousin who works there suggested I should also look for MBA jobs in the Down Under, I became curious about their remuneration and benefits.
How much does an MBA job in Australia pay? Which Australian city has the highest salary for MBA graduates? I did some research to dig into the answers, and here’s what I found out.
The average salary after an MBA in Australia is more than AUD 95,000 annually. Employers are eagerly snapping up Australian MBA graduates for their exceptional strategic thinking and business savvy skills. Doesn’t it sound like an amazing opportunity?
If you, too, wish to know about the job prospects in Australia after an MBA or the highest-paying MBA fields in Australia, keep reading this blog to find the answers.
Job Market Overview for MBA Graduates in Australia
Employment opportunities for MBA holders are good for those intending to work in Australia, as the job market is competitive in this region. A survey conducted by ‘Job and Skills Australia’ reports a 10.1% increase for specialist managers and 6.1% growth for all other occupational category managers till 2025, showing great demand in the country for qualified managers.
Likewise, the US Bureau of Labor Statistics predicts a growth of 8% in management-related jobs between 2021 and 2031, stressing that these positions are becoming more popular worldwide.
Average MBA Salaries in Australia
MBA graduates earn one of the highest salary packages globally. The job opportunities in Australia after an MBA are rising due to high-ranked institutes that vouch for an excellent career graph for international students.
The table below shows the average MBA salary in Australia for different job positions:-
Industry
Specialization
Years of Experience
Average Annual Salary
Finance
Financial Manager
1 to 3
AUD 179,860
7 to 9
AUD 194,850
15+
AUD 217,378
Accounting Manager
1 to 3
AUD 125,929
7 to 9
AUD 142,420
15+
AUD 149,910
Financial Analyst
1 to 3
AUD 86,000
7 to 9
AUD 100,000
15+
AUD 100,000
Chief Financial Officer
1 to 3
AUD 75,000
7 to 9
AUD 90,000
15+
AUD 200,000
Consulting
Management Consultant
1 to 3
AUD 89,000
7 to 9
AUD 100,000
15+
AUD 200,000
Senior Associate
1 to 3
AUD 145,376
7 to 9
AUD 224,808
15+
AUD 239,795
Project Manager
1 to 3
AUD 100,000
7 to 9
AUD 100,000
15+
AUD 100,000
Principal Consultant
1 to 3
AUD 221,810
7 to 9
AUD 224,808
15+
AUD 262,276
Technology
IT Manager
1 to 3
AUD 176,849
7 to 9
AUD 179,846
15+
AUD 224,808
Chief Technology Officer
1 to 3
AUD 299,744
7 to 9
AUD 299,744
15+
AUD 299,744
Data Analyst
1 to 3
AUD 86,000
7 to 9
AUD 100,000
15+
AUD 100,000
Marketing
Vice President of Marketing
All years of experience
AUD 320,726
Communications and Marketing Manager
1 to 3
AUD 160,363
7 to 9
AUD 164,859
15+
AUD 194,833
Engagement Manager
1 to 3
AUD 188,838
7 to 9
AUD 224,808
15+
AUD 245,790
Source: Glassdoor, June 2024
Average Salary of MBA Graduates in Australia: City Level
Understanding the average salary for MBA graduates in different Australian cities can help you decide where to pursue your career.
City
Average Annual Salary
Sydney
AUD 99,000 (Management Consultant)
Melbourne
AUD 100,000 (Project Manager)
Brisbane
AUD 100,000 (Management Consultant)
Perth
AUD 100,000 (Business Analyst)
Adelaide
AUD 90,000 (Business Analyst)
Source: Glassdoor, June 2024
How to Find Jobs in Australia
After completing their MBA degree, students would be granted a two-year post-study visa. So, if a graduate has good communication skills and has prior work experience in your field, you may be able to get work. Students must note that they must obtain a work visa in Australia if they pursue an MBA without work experience.
1. Check Out Job Sites
Seek, Workfast, SpotJobs, Paddl, Gumtree, Indeed, CareerJet, CareerOne, Adzuna, and others are some of Australia’s most reliable jobs sites. All you can do is select the location, job type, and expected salary package and look for the most suited one for yourself.
2. In-Campus Networking
In-campus networking is an informal way of exploring a job opportunities in Australia, but works for various candidates. So, the purpose of networking is to meet the people who can help you reach where you want to. College events, fests, participation in college societies, volunteering programs, and others are ways in which students can form networks.
Note that keeping in touch with those acquaintances throughout your college life is essential. The best thing to do is to add them to your social media.
3. Apply Over Company’s Website Directly
Most companies advertise their vacancies over their website’s career section. They are more than happy to welcome aboard a highly skilled professional. So, if your resume has been found relevant, you will surely get an interview call.
4. Benefit From Career Services of Universities
All good universities have industry partners who look for talented students to work with them. The universities’ career services help candidates connect with companies. Additionally, lots of educational institutions provide direct placement to the students after they complete their education at the center.
5. Register With a Recruitment Agency
Innumerable recruitment companies provide multiple opportunities to candidates searching for jobs in Australia. The aspirant must consult a reliable company that helps recruit international students, provide all relevant details along with their CV, and then wait for them to come back with a suitable opening.
MBA graduates with specialized areas are in high demand due to how the Australian economy functions and the industries available in the country. Some of the industry specializations are as follows:-
1. Entrepreneurship and Innovation
This industry specialization is detailed and demonstrates how it prepares graduates to start and grow an organization, promote entrepreneurial culture, develop a competitive business model, and analyze the business environment.
2. Business Analytics
In today's era, graduates must interpret complex data correctly to make the right decisions. This is essential for organizations and companies' operations under data science, analytics, and decision-making.
3. Finance
This section intends to educate students about the latest financial management practices and equip graduates with the ability to solve operational and strategic problems.
4. Digital Marketing
In the MBA world, digital marketing illuminates different online marketing techniques. These include search engine optimization (SEO) and marketing (SEM). Social media marketing is also covered by anybody interested in learning new marketing paradigms.
5. Healthcare
This specialization includes planning and legal compliance in light of the fast and frequent changes to healthcare. It's for individuals keen on succeeding in a healthcare environment like a hospital or health clinic.
6. Technology Management
Technology Management prepares students and IT personnel to anticipate and deal with change. It is most suitable for future managers, especially in IT or other tech-oriented organizations.
7. Human Resources
This specialization teaches effective knowledge management and sharing, workplace organizational learning, and how change happens.
Top Australian Universities with Strong MBA Placement Records
Some top universities in Australia with strong placement records are mentioned below. Learn about the features that position them among the top contenders:-
1. University of Melbourne
The University of Melbourne's MBA program has an integrated skills-based curriculum and distinctive aspects that enhance leadership and career development. Through the immersive business experience, students interact with CEOs and industry leaders, gain practical business exposure, and understand real-life challenges. All these features ensure that graduates are suitable for senior executive positions in different sectors.
2. Queensland University of Technology
Queensland University of Technology (QUT) has excelled in MBA and Executive MBA programs. Triple international accreditation and high rankings within Queensland characterize these programs. Their MBA offers flexible study options, with electives and immersive global learning experiences, including the MIT Sloan School of Management trips - the regular MBA program targets freshers.
The executive MBA is aimed at experienced professionals. Participants engage in monthly intensive classes. One distinctive feature is personalized leadership coaching provided in specialized pathways.
3. University of Western Australia
The University of Western Australia (UWA) MBA program stands out because of its accelerated style. It is based on cohort and experiential learning with a strong focus on leadership. It also benefits from having students interact with active researchers. This curriculum includes real-life case studies and team projects.
Courses like Negotiation Behavior and Organizational Change ensure a profound sense of business matters, attracting more recruiters.
4. Monash University
Monash Business School offers a variety of MBAs that accommodate diverse leadership styles and career needs. The Global Executive MBA is an 18-month program designed for professionals who have worked for at least five years. It combines face-to-face classes in Melbourne with international modules and exposure to industry.
The fully online MBA (Digital) program has been specifically made for self-learning individuals. They aim to enhance their leadership skills. This is toward advancement for strategic purposes across any employment sector.
5. Macquarie University
Macquarie University’s celebrated MBA program intends to position professionals for success on a global scale. The duration is between one and a half and two years with options of full-time or part-time study in either North Ryde or CBD or off-campus.
There are 10 foundational units and six electives, totaling 16 courses covering big data, design thinking, and strategy. It was ranked among the top 100 universities globally by the Financial Times (FT) and the third best in Australia.
Top Paying Industries for MBA in Australia
The top-paying industries for MBA graduates in Australia are:-
1. Finance
The financial services industry is expanding due to factors such as post-pandemic economic recovery, an aging population, and ongoing digitization. MBA graduates are quickly absorbed into key positions like Financial Manager, Accounting Manager, Financial Analyst, or even Chief Financial Officer. The average salary of MBA associates in the field of finance is AUD 100,000 per year.
2. Consulting
MBA graduates are appreciated in the consulting industry, especially management consulting, due to their strategic analysis, planning, and management skills and abilities. Some positions someone may land in this line of business are Management Consultant, Senior Associate, Project Manager, and Principal Consultant. The average salary in this field is AUD 99,000 per year.
3. Technology
MBA holders are recruited in this industry to address technological advancements. Some major roles in this industry include IT Manager, Chief Technology Officer, and Data Analyst. The average salary of an MBA student in the technology field of Australia is AUD 126,000 per year.
4. Human Resources
Experts in MBA mention that MBA graduates can consider human resource management as their field of work, which is important for attracting, developing, and managing talents in organizational structures. Some include Human Resource Managers, Vice Presidents of Human Resources, Employee Relations Managers, and Directors of Culture. The average salary in this field is AUD 89,000 per year.
5. Marketing
As new trends, such as AI applications in digital marketing, are on the rise, MBA marketing graduates can secure leadership positions or switch to other fields. Possible positions for a person with this background are Chief Marketing Officer, Marketing and Communications, Manager of Engagement, and Vice President of Engagement. The average salary for an MBA in marketing is AUD 101,000 per year.
Highest-Paying MBA Jobs in Australia: 15 Career Options
Some highest paying jobs for MBA graduates in Australia are categorized accordingly:-
1. MBA Finance Jobs in Australia
MBA finance jobs in Australia are one of the most open sectors in the job market. It offers various positions with promising wages and an advancing process. Below is a rundown of some of the most common jobs available to MBA graduates in finance.
Finance Advisor
A finance advisor is a professional who assists clients in comprehensive financial planning and investment decisions to achieve their long-term objectives, such as savings, retirement, and insurance. They help people and companies attain their monetary objectives through enterprise-friendly planning, selling, and analyzing fiscal information.
Investment Banker
Investment bankers help firms sell securities through underwriting services or act as agents in issuing securities. They are also instrumental in processes such as mergers and acquisitions, advisors to firms and companies, underwriters of new issues, and placement agents.
Analytics Manager
Analytics managers supervise analyzing actual and projected financial information to guide business strategies and objectives. They manage teams that employ statistics and data analysis to give companies SG strategies and predictions to improve their economic situation.
Post
Average Salary Per Annum
Finance Advisor
AUD 164,860
Investment Banker
AUD 163,958
Analytics Manager
AUD 229,304
2. MBA HR Jobs in Australia
MBA HR jobs in Australia are well suited to the market because they are highly sought after. These roles are critical to the processes associated with talent management or promoting an effective organizational culture.
HR Manager
Human resource management is a general term for the various processes in an organization that manage its human capital, including staffing, employee relations, performance, and the observance of the Labor Laws.
They are also involved in policy formulation and enacting human resource policies as well as effective organization, installation, functioning, and regulation of strategies to increase organizational productivity and maintain a positive work environment.
Talent Acquisition Manager
Talent acquisition managers are those responsible for recruiting people for the organization. Using unique strategies, they determine how to hire and select candidates based on the needs and directions of the divisions that report to the department heads.
Management Consultant
Consultants are professional experts who offer guidance to organizations on how to operate effectively, propose solutions to their challenges, and advise them on the best way to effect changes. They are involved in different fields, consulting organizations, and businesses to improve performance and address various goals.
Post
Average Salary Per Annum
HR Manager
AUD 171,963
Talent Acquisition Manager
AUD 119,973
Management Consultant
AUD 167,327
3. MBA Marketing Jobs in Australia
There are many great opportunities for MBA marketing jobs in Australia. Let's identify some well-known marketing positions: strategic planning roles and business development leadership.
Marketing Manager
Marketing managers create and implement marketing plans to help organizations promote their products or services. They manage market analysis, promotions, product positioning, and strategies applicable to the particular business to enhance sales and market capture.
Senior Business Analyst
Senior business analysts mainly analyze organized business processes and information to determine areas for enhancement. They offer advice on how best management could manage them, make them more productive and efficient, or meet certain strategic objectives. They usually liaise with management to ensure that recommendations are implemented.
Business Development Manager
BD managers are responsible for identifying market opportunities and seeking new opportunities to grow the company's market share. They cultivate brands, establish affiliations, and develop strategies for revenue generation with prospective clients.
Post
Average Salary Per Annum
Marketing Manager
AUD 178,386
Senior Business Analyst
AUD 219,325
Business Development Manager
AUD 147,404
4. MBA Consulting Jobs in Australia
MBA consulting jobs in Australia are popular among aspirants. This includes providing recommendations to companies regarding the right strategies and processes to enhance their business models.
Management Consultant
Management consultants offer organizations solutions for organizing themselves to address strategic, operational, and other key issues. They study business issues, devise strategic scenarios, and facilitate the execution of change processes to increase efficiency and meet objectives.
Senior Associate
In consulting firms, senior associates assist the senior consultants and partners in research, data analysis, and preparation of the contents of the consulting assignments to be presented to the clients. This is important in project control and client handling.
Project Manager
Project managers are responsible for certain organizational tasks or implementations and ensuring that these projects are successfully accomplished within a given timeframe, budget, and other related constraints.
Post
Average Salary Per Annum
Management Consultant
AUD 165,070
Senior Associate
AUD 164,895
Project Manager
AUD 198,196
5. MBA Technology Jobs in Australia
In Australia, where technology is rapidly advancing, there is an increase in MBA technology jobs. These positions are strategic interfaces that combine administrative skills with technical knowledge and foster innovation and growth.
IT Manager
IT managers typically manage an organization’s IT technology hardware and software. They also oversee IT employees, ensure the security and effectiveness of IT operations, and integrate IT strategies with organizational goals.
Chief Technology Officer (CTO)
CEO stands for Chief Technology Officer, and it is one of the most important positions within top management charged with the technological strategy of the firm. IT directors manage the appointment and supervision of technology patterns or solutions to guide the company and match the right technologies to its objectives.
Data Analyst
Data analysts are responsible for accumulating, processing, and providing information patterns to decision-makers. They apply statistical techniques and employ different software tools to develop them, finding trends and making recommendations.
Australia’s global job market attracts leading tech giants, popular multinational companies, and international conglomerates. MBA graduates get the opportunity to work with fortune 500 listed organizations that recruit frequently.
Let us look at the top recruiters for MBA graduates in Australia.
Top Recruiters
Average Annual Salary (in AUD)
Commonwealth Bank of Australia
84,000
ANZ Banking Corporation
45,000
Woolworths
123,000
Telstra corporation Ltd
126,000
Westpac Banking Corp
135,000
JP Morgan
158,000
Fidelity Investments
133,000
Allianz Global investors
132,000
Barclays
135,000
HSBC Global Asset Management
109,289
Source: Payscale
How to Calculate ROI After MBA in Australia
Calculating the Return on Investment (ROI) after getting an MBA job in Australia involves several steps:-
Identify Costs: Keep track of your living costs and tuition fees.
Estimate Post-MBA Salary: Identify the current trends of the average annual salary of graduates from the program in MBA.
Calculate Return: Subtract the total cost of the MBA with the living cost from the estimated post-MBA salary.
Factor in Loan Repayments: If you intend to secure loans for MBA financing, you must evaluate their likely effect on MBA finances.
Assess Non-Monetary Benefits: Although ROI is not tangible regarding location, there are other benefits, such as skills acquisition, personal development, and the widening of the professional network.
How to Get a Job in Australia After MBA From India
Follow the ways mentioned below to get MBA jobs in Australia:-
Completing an MBA from one of the leading Indian business schools is a great way to increase your chances of finding the right job since these programs have strong links with the industry.
Workshops and internships are some of the recommendations one needs to embrace.
Try to retain job references and connections with classmates and professors for referrals and internal vacancies.
Do an online search occasionally to check the available openings on the company websites.
Rewrite the resume according to the particular position before submitting it.
Make critical use of your university placement opportunities and organizations with an industry partnership.
Upload your CV to reputable agencies that procure international student placements.
Start the search with an Indian multinational company and look for job transfer options or overseas jobs.
Establish a professional presence and secure opportunities to access jobs via disciplines such as AIM, AHRI, and CPA Australia.
In conclusion, MBA jobs in Australia in 2024 continue to offer graduates a promising and rewarding landscape. The blend of competitive salaries, diverse career opportunities, and the presence of top recruiters reflects the enduring value of an MBA in the Australian job market.
For MBA graduates, this translates to not only ample employment opportunities across various dynamic sectors but also a platform for significant professional growth and development. The Australian economy's recognition of the strategic, leadership, and analytical skills of MBA graduates ensures that they are well-positioned to take on influential roles and contribute meaningfully to the business landscape.
Entering this vibrant market, MBA professionals in Australia can look forward to a career path filled with potential, innovation, and success. You can get in touch with upGrad Abroad counselors to get support regarding MBA prospects in Australia!
Study Abroad with upGrad Abroad
upGrad Abroad offers flexible study solutions to help aspirants achieve their foreign education dreams through collaborations with the top international universities. You can pursue courses with us and save one-fifth on your education cost while getting the same PSWP benefit.
FAQs on MBA Jobs in Australia
Are any scholarships available for students planning to pursue an MBA in Australia?
Yes, more than 520 scholarships are available for international students pursuing an MBA from Australia.
How much does an MBA graduate earn in Australia?
The average salary of an MBA graduate in Australia is AUD 95,000 per annum. However, the salary may vary for different positions and work profiles.
What is the average MBA fee for studying in Australia?
The average first-year tuition fee for pursuing an MBA in Australia is AUD 40,518, and the average annual living expenses can cost AUD 16,800 to AUD 30,000.
Is it hard to get a work visa to Australia?
Australians are pretty open to accepting talents and skills from across the globe in their country. In fact, with new developments, students enrolled in PG courses (Coursework or Research) are eligible for up to five years of stay-back option.
Is there a demand for an MBA in Australia?
Yes, there are job opportunities for MBA graduates in Australia due to the competitive job market. With an MBA from Australia, you can get a job with an average salary of around AUD 95,000 per annum.
How long does it typically take to find a job in Australia after completing an MBA?
If you want to find your job quickly after your MBA, consider the following tips:-
Give efforts in Networking.
Should have previous work Experience
Should have the university resources.
Actively participate in the industry.
How can I maximize my salary potential with an MBA in Australia?
After your MBA, you must gain work experience and skills to maximize your salary potential in Australia.
What is the scope of an MBA in Australia?
MBA job opportunities in Australia are high. To get the best job, you have to study which specialization of MBA provides the best salary.
Pragya Sharma is a content developer and marketer with 6.5+ years of experience in the education industry. She started her career as a social media copywriter for NIELIT, Ministry of Electronics & IT, and has now scaled up as a 360-degree content professional well-versed with the intricacies of digital marketing and different forms of content used to drive and hook the target audience.
She is also a co-author of 2 stories in an anthology based on the theme- women empowerment.
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