Study Masters in International Business in Australia

The decision to choose the best destination to study often is the toughest for an international student. There are factors like quality of education, the standard of living, exposure to the latest technologies, internship opportunities, job outcomes and more importantly the politico-economic status of the country. In the current age and era, Australia certainly stands good for the above-mentioned factors thus making it a “New Land of Opportunities” for international students. A Masters degree in International Business in Australia is a prudent career option for international students who want to enhance their skills and gain a global perspective. 

The entry requirements vary with the university but here are the common criteria to study a masters in International Business Management in Australia:

1. Educational requirements: An undergraduate degree or equivalent qualification from a recognised institution is a must. For certain universities, there will be a minimum CGPA/Grades criterion that a student has to be met to place an application.  

2. English language requirements: English being the native language and the language of instruction in Australian universities you must demonstrate proficiency by appearing for assessment tests like IELTS. The required score is a minimum overall score of 6.5 in IELTS with no band score lower than 6.0.

3. Work experience: Certain universities might require work experience in a related field for admission to a masters in International Business Management program.

4. Other requirements: Some universities expect the student to submit a Statement of Purpose (SOP), Letters of Recommendation (LOR) and résumé  as part of the application.

Australia is home to some of the top universities in the world offering masters programs in International Business Management, providing students with a unique opportunity to learn and gain practical experience in a dynamic and diverse business environment. Here’s a list of the top universities in Australia offering a masters in International Business:

• The University of Queensland

• Monash University

• The University of Melbourne

• The University of Sydney

• University of Canberra

• La Trobe University

• Curtin University

A masters in International Business program from an Australian university typically consists of a variety of course units, including subjects such as:

1. International marketing: This course include subjects like worldwide product strategies, pricing strategies, promotion and advertising in international markets, distribution strategies, and global branding. It will also likely cover topics like international market research, segmentation, targeting, and positioning.

2. Global business strategy: This unit will cover topics like how to analyse foreign markets and competitive environments as well as how to create company strategies that take into account cultural, political, and economic differences. In addition, aspects like the diverse market entry methods such as alliances, licenses, franchising, merger and acquisitions.

3. Globalisation and value chain management: This area of study explores different approaches to managing global supply chains, including logistics and transportation, inventory management, and sourcing strategies.

4. Business analytics: In this course unit one gets to learn how to collect, clean and manipulate data from various sources to extract meaningful insights and trends. They train you on how to use statistical tools and techniques to analyse data, create visualisations and make data-driven decisions.

5. International financial management: In this line of learning one gets the know how to assess and handle financial risks, such as currency risk, interest rate risk and nation risk which is a part of business in a global setting. Knowledge on various methods for controlling foreign cash flows such as the use of financial derivatives and hedging techniques are also covered.

6. Cross-cultural management: In this unit one gets to identify and negotiate cultural differences in communication styles, values, beliefs and attitudes in a professional setting. It also imparts knowledge on the ways to look at how cultural differences impact several aspects of management and leadership including decision-making, performance assessment and motivation.

These courses units have been precisely tailored to prepare students with the essential competencies  to succeed in the current job market.

The tuition fee for Masters program in International Business Management in Australian universities ranges between AUD 25,000 to AUD 45,000 per year.

International students have numerous scholarship opportunities for pursuing Masters program in International Business Management in Australia:

• The Early Acceptance Scholarship

• Vice Chancellor Scholarship

• Endeavour Postgraduate Scholarship

• The International Postgraduate Research Scholarship

These scholarships ideally range between 15% to 50% of the tuition fee based on the applicants academic scores. Scholarships can definitely offset a student’s expense like tuition fees, living expenses, and other costs associated with studying in Australia.

The universities in Australia have an extensive network of industry partners which naturally translates to internship opportunities for international students. These internship programs give students the much-required practical experience and the opportunity to apply the knowledge and skills gained in the classroom. Internships is also an excellent opportunity for students to build their professional networks.

The job opportunities in this field are promising considering the rise in the multinational companies investing in joint ventures in Australia.

Graduates can work in various fields, including:

• International marketing

• Global finance

• International trade

The most popular job roles include:

• International marketing manager

• Global supply chain manager

• International business development manager

• Business analyst

• Entrepreneur

• Trade relations manager

• Change management consultant

Here’s a list of Australian companies that hire professionals with a degree in International Business Management, along with their average salary packages:

1. BHP Group: This mining corporation employs people with backgrounds in international business to operate in its global operations. Business analysts at BHP Group typically make around AUD 110,000 annually.

2. Commonwealth Bank of Australia: This financial services organisation hires professionals with backgrounds in business and finance for a range of positions, including international business. An annual salary of about AUD 120,000 is an average for business development managers at Commonwealth Bank.

3. Macquarie Group: This financial group hires candidates with international business management backgrounds for job roles in its investment banking and asset management divisions. The average salary for a business analyst is in the range of AUD 100,000 per year.

4. Rio Tinto: This mining company employs individuals with business backgrounds for roles in its global operations. The average salary for a business analyst is close to AUD 120,000 per annum.

5. Telstra: This telecommunications company hires professionals with international business backgrounds for roles in its global operations. The average salary for a business development manager is around AUD 95,000 per year.

*Source: glassdoor.com
*Indicative (subjective to the work experience of the candidate)

For one to climb the ladder of success in the global market starts with a solid foundation and an Australian masters in International Business Management provides just that. The job outcomes and average salaries for graduates are encouraging which makes it an appealing option for those who wish to pursue a career in International Business Management.

If you want to know more about the course, you can get in touch with our international education expert. They will help you with the course and university selection and end-to-end admission process.