Having gone through the journey of studying a postgraduate course in Sydney, we know that studying an MBA can be an expensive thing to do if you are an international student.
On top of that, the cost of living is high and 2020 hasn’t been an easy year either. For this reason, applying for scholarships can be a great way to save. But what are the best MBA Scholarships In Sydney that will save you money?
The answer is that there are many institutions that provide a wide range of scholarships that you can benefit from depending on your nationality, academic background, and more.
Generally, these scholarships are granted based on merit, country of origin, to students wanting to study a specific field, to reward students for community service, or to promote educational participation from specific groups, such as women in non-traditional fields and many more!
As there are many choices to choose from and types of scholarships available for 50% of the course, we did a research to help you the main type of scholarships you should consider when studying for your MBA in Sydney and the options of colleges and universities available.
What is an MBA
An MBA program is a Masters Degree of Business Administration. Is a higher education program that people generally study enhance in their career to the executive level.
Accounting, statistics, economics, communications, management, and entrepreneurship are just a few of the subjects covered in MBA coursework.
MBA programmes prepare students not only for work in financial institutions, but also for management positions or as startup company founders!
Why should I study one?
There are many reasons why people choose to study an MBA program in Sydney. The main reasons why studying an MBA is a good choice are:
- Opportunities for a higher salary – According to a study conducted by MBA News, graduates from a MBA are predicted a 30 percent rise in earnings after completing the MBA programme. MBA graduates in Australia earn between AU$85,000 and AU$305,000, according to the average salary survey.
- Improve your management skills by becoming more advanced and adaptable. An MBA program forces you to get out of your comfort zone as the competences of this course will develop your skills in key managerial areas.
- Specializations – There is a wide range of MBA specialisations to match your specific objectives. In Sydney in particular, many universities and business schools have created a diverse range of MBA programmes, specialising in various aspects of the business world, including international business, double master degrees and more.
- Network – You’ll have access to a large enterprise network and networking opportunities as an MBA student. You’ll communicate with other students, teachers, and faculty members.
Types of MBA in Sydney
Master of Business Administration (General)
A general MBA is the best choice for a student who wants to take a step forward in their career but has little or none managerial experience. The number of years needed varies by university. MBA programmes teach business skills that can be used in a variety of fields. General MBAs may be pursued full-time or part-time. A full-time programme can take anywhere from one to two years to complete.
If you are in a senior management position and you are looking for rapid career progression. The program mainly gives importance to developing the leadership skills which are required to manage business operations seamlessly.
Students who pursue this program are older than students pursuing general MBA programs as they have some experience under their belt. Aspirants go for this program mostly part-time during evenings and weekends, as you fit your course along with your day job, and take one to two years to complete the program.
If you already have some experience in a specific industry, a specialist MBA could be the best option for you. You’ll learn business and management skills, as well as how to apply them to specific fields of work. Students who believe like a general curriculum does not suit their basic needs should take these classes.
In Australia, there are numerous specialised MBA programmes available. International management, education management, sports management, management, engineering management, and health care management are only a few examples.
Double Master degrees
A Double Master degree or combined master degree offers you the chance to receive two master’s degrees in business in less time and for less money than you might if you did them separately. This type of degree is offered by many business universities in Sydney.
Master degrees in two areas of business can increase your job prospects and allow you to graduate with a competitive advantage in more than a specific area.
Duration of an MBA in Sydney
The MBA programme is typically two years long at most universities. Most Australian universities offer MBA programmes that last between 15 months and two years.
Best universities to study an MBA in Sydney
When looking for MBA options in Sydney you will come across many universities ranked among the top 100 universities in the world. For this reason, the institutions you should consider when coming to study an MBA program in Sydney are:
- AGSM MBA, University of New South Wales
- Macquarie Graduate School of Management
- Sydney Business School, University of Wollongong
- UTS Business School
- The University of Sydney Business School
- Sydney Graduate School of Management, Western Sydney University
If you want more information about one of these schools, make sure to contact our team and we will be happy to help!
What are the requirements to apply for an MBA in Sydney
Although universities may have different entry requirements, generally you will have to meet the following requirements to be admitted to an MBA program:
- Bachelor’s degree (or AQF Level 7 equivalent course): Candidates must have earned a bachelor’s degree from an Australia recognised university or equivalent type of studies.
- English requirements: To gain admission to a university, students from non-native English speaking countries must demonstrate their English language proficiency. This can be measured with an Academic IELTS score of 6.5 ( with no band less than 6.0) or equivalent.
- GMAT: For admission to an MBA programme, most Australian universities and colleges recognise the GMAT ranking. The GMAT score for admission to an Australian university is always 550 or higher.
- Work Experience: Although work experience is not required in most cases, aspirants with at least two to three years of work experience will be preferred against candidates with no work experience.
- Motivation statement: Some universities in Australia such as the University of Sydney will also require you to write a motivation letter. In this letter you will have to justify why you are the best candidate for the course, how the course will impact your career and why you are interested in studying it in your institution of choice.
- Interview: The majority of Australian business schools have a special interview round for students whose applications have been shortlisted. An interview is basically a discussion in which the candidate is questioned about his academic experience and why he wants to enrol in the MBA programme in question.
How to Assess your qualifications
Institutions will define the overseas credentials for admission when you apply to study in Australia. For this reason, you are not required to give the institution you are applying for a qualification assessment. But you will almost always be required to provide certified copies of any qualification documents (including diplomas and academic transcripts) and these will have to be translated.
Merit Scholarships for MBA in Sydney and options
What is a Merit-Based MBA Scholarship and How Does It Work?
Simply put, a merit scholarship is provided solely on the basis of your achievements rather than a financial need. In general, this means that the scholarship committee evaluates an applicant’s success in a specific field, and the most outstanding applicants in that area, regardless of financial status, are awarded scholarships.
The universities in Sydney that offer this type of scholarships for MBA courses are:
Bursaries for MBA in Sydney and options ( and Regional Scholarships)
Bursaries are a type of scholarship destined to certain individuals, groups or nationalities.
These scholarships will often help you save in your course and as many can offer 30% or more depending on your circumstances, country of origin or group.
Many institutions in Sydney offer this type of scholarship for MBA courses to a variety of nationalities and groups. Amongst these, the countries that often receive this type of financial incentive are India, Brazil, China, Philippines, Latin american countries, European countries and many others. The education providers that offer this type of scholarships are:
- University of Sydney
- Macquarie University
- University of Wollongong
- University of New Castle
- Kaplan University
- Torrens University
If you want to discover if the university of your choice offers a bursary to your nationality, make sure to contact us and we will be happy to help you find the options that are best suited for your case.
How to apply for MBA scholarships in Sydney?
Applying for a scholarship is not as hard as it sounds and the process can be straight forward if you follow these steps:
Step 1 – Find the scholarships that are right for you and will help you save the most on your MBA.
The best way to do that is by researching the institution’s website. Most of them will have a list of scholarships and bursaries available, of the requirements and cut-off dates.
Sept 2. Read the scholarship conditions carefully
When you come across a scholarship that seems to be a good choice for your studies, read the terms and conditions carefully. Competition for MBA Scholarships is fierce, so make sure you apply your application on schedule and meet all of the standards.
Step 3 – Apply to as many MBA scholarships as you can
The best way to improve your chances of getting accepted is to apply to as many as you can, as soon as possible. This means that you should start searching early and learn about deadlines.
Migration opportunities after an MBA course in Sydney
The majority of students who come to Australia to study an MBA often will want to acquire work experience in their field after their studies. This is a great opportunity as many employees will appreciate professionals with experience overseas.
For that reason, a visa option that is often considered after the completion of an MBA is the Temporary Graduate Visa (Subclass 485). International students who have recently graduated from an Australian institution are eligible for this visa, most specifically to the Post-Study Work Stream.
This stream will allow students that graduated from an MBA by coursework or MBA (Extended) to stay in Australia for 2 years, whereas students that graduated from an Masters by Research will be granted a stay of 3 years.
Studying an MBA in Sydney can be a great opportunity to improve your qualifications and gain work experience overseas. For that reason, make sure to apply for as many scholarships as you can, to make the most out of your MBA. If you need help in applying, make sure to contact our team and we will be more than happy to help.