Understanding what it may cost to study an online MBA in Australia is important when deciding to pursue this advanced degree. An MBA can significantly enhance your career prospects and earning potential, but it’s essential to know the financial commitment involved.
This article will guide you through the expenses of online MBAs in Australia, helping you determine if the investment aligns with your professional goals. From tuition fees to hidden costs, we’ll cover everything you need to know about how much an online MBA costs to make an informed decision.
MBA fees in Australia can vary significantly depending on the institution and the specifics of the program. Here is a detailed comparison of the costs for various online MBA programs across Australian universities.
| University | State | Course name | Tuition fees (total) | Cost per unit | Units in the MBA | FEE-HELP |
|---|---|---|---|---|---|---|
| University of Melbourne | Victoria | Master of Business Administration | $85,400 | $4,880 | 17.5 | FEE-HELP |
| RMIT | Victoria | Master of Business Administration | $74,880 | $4,680 | 16 | FEE-HELP |
| Macquarie University | New South Wales | Master of Business Administration | $60,000 | NA | NA | FEE-HELP |
| Australian Institute of Business | South Australia | Master of Business Administration | $57,876 | $4,485 | 12 | FEE-HELP |
| Southern Cross University | Across Australia | Master of Business Administration | $49,280 | $3,080 | 8-16 | FEE-HELP |
| Victoria University | Victoria | Master of Business Administration | $45,600 | $3,800 | 12 | FEE-HELP |
| Kaplan Business School | Across Australia | Master of Business Administration | $45,360 | $3,780 | 12 | FEE-HELP |
| University of Southern Queensland | Queensland | Master of Business Administration | $44,040 | $3,670 | 12 | FEE-HELP |
| James Cook University | Queensland | Master of Business Administration | $44,400 | $3,700 | 12 | FEE-HELP |
| Deakin University | Victoria | Master of Business Administration | $38,800 | $3,233 | 12 | FEE-HELP |
| Swinburne University | Victoria | Master of Business Administration | $34,900 | $2,908 | 12 | FEE-HELP |
| Charles Sturt University | New South Wales | Master of Business Administration | $31,120 | $2,593 | 12 | FEE-HELP |
| University of South Australia | South Australia | Master of Business Administration | $29,900 | $2,491 | 12 | FEE-HELP |
| Australian Catholic University | Canberra | Master of Business Administration | $29,670 (for CSP) | $3,708.75 | 16 | FEE-HELP |
| University of Sunshine Coast | Queensland | Master of Business Administration | $27,840 | $2,320 | 12 | FEE-HELP |
| Torrens University | Across Australia | Master of Business Administration (On Demand) | $27,600 | $2,300 | 12 | FEE-HELP |
| CQ University | Across Australia | Master of Business Administration (Leadership) | $19,134 | $1,594.50 | 11 | FEE-HELP |
| Victorian Institute of Technology | Victoria | Master of Business Administration | $16,000 | $1,000 | 16 | FEE-HELP |
The Victorian Institute of Technology offers the cheapest online MBA in Australia, at $16,000, while the most expensive is from the University of Melbourne, at $85,400. The median price of an online MBA is around $44,000.
The cost of an online MBA in Australia is generally calculated based on the price per unit rather than the total degree cost. For instance, RMIT’s MBA costs $4,680 per unit, and students can choose to study either 12 or 16 units. This structure allows for flexibility, as students can spread the cost over several years by taking fewer units each semester or increasing the number of units when their schedule allows.
Many students apply for Recognition of Prior Learning (RPL) to help reduce the total cost of an MBA. RPL is an acknowledgement of the skills, knowledge and experience gained through previous work, education or training. This recognition can then be used to exempt you from certain units, potentially reducing the duration of your MBA study.
Students can also apply for FEE-HELP, an Australian Government loan program that helps cover tuition fees as a common way to pay for an MBA.
Online MBA costs tend to be lower than those of their on-campus counterparts due to reduced overhead costs for universities. For instance, RMIT’s online MBA is approximately $1,000 cheaper per year than its on-campus equivalent, with the online program costing $74,880 for a 16-unit course compared to around $76,000 to study the same course on campus. Another example is Victoria University’s online MBA, costing students $45,600. To study an MBA at the same university on campus, students are expected to pay $64,400 for two years of full-time study.
The cost savings of online MBAs extend beyond tuition fees. Online students can avoid expenses related to commuting, accommodation and potential income loss from reduced work hours. While online and on-campus students incur costs for course materials, online learners might save on purchasing physical materials. These financial benefits, coupled with the flexibility to study from any location, make online MBAs in Australia a more economical and practical choice for many prospective students.
When considering an MBA, looking beyond tuition fees to understand the full financial picture is essential. While both online and on-campus programs come with their own set of costs, on-campus MBA fees in Australia are usually higher. From commuting and accommodation to the impact on your income and additional material costs, these less obvious expenditures can add up.
Some of the hidden and often unconsidered costs associated with studying an MBA include:
Jess Gleeson is a business owner who studied a Master of Business Administration at RMIT University. She found studying online to be more cost-effective.
“The course I did was online, meaning I didn’t have to incur travel and accommodation costs to attend classes. I didn’t have to give up paid work to attend or use annual leave days to do exams, as the assessments were also 100 per cent assignment-based. Being online meant I had access to online databases and didn’t need to incur costs for textbooks or printed materials.”
Determining whether MBA costs are worth it is largely a personal decision. However, it’s wise to consider several key aspects to determine if pursuing an MBA aligns with your professional goals and personal circumstances.
MBA graduates may see a salary increase. For instance, MBA graduates may expect a salary ranging from $90,000 to $190,000 per year, providing a strong ROI.
An MBA can open doors to higher-level positions and increase job opportunities. Many graduates move into leadership roles or new industries, which can justify the investment. In programs like the MBA offered by Victoria University, you’ll gain valuable industry connections while learning the skills demanded by today’s employers.
Beyond financial and career benefits, an MBA fosters personal and professional growth by enhancing strategic thinking, leadership skills, and global business understanding while providing access to a valuable network of peers, mentors, and industry experts. The online MBA at Southern Cross University is noted for its flexibility and the ability to customise with specialisations, making it a high-value choice for those seeking to expand their expertise.
A strong alumni network can provide valuable connections and opportunities in your industry. Programs that offer internships, industry projects and networking events can also enhance your professional network. James Cook University’s MBA Global, with its data-driven approach and strong focus on leadership, offers excellent support for navigating global business shifts and building a robust professional network.
An MBA requires significant time and dedication, which could impact personal life and existing responsibilities. Balancing study with family commitments can be challenging, so choosing an MBA that can be flexible to your needs could be worth pursuing. For example, RMIT’s online MBA is designed to be flexible, allowing students to study at their own pace while still accessing world-class resources and support from industry experts.
Jess says while the cost of her degree added to the loans she has accumulated as a student, she says it was worth it. “I believe that having studied the degree gives me greater insight into some of the challenges my clients are facing.”
Making the decision to study an MBA involves a lot of research, time and thought. For many reasons, such as cost and level of commitment, prospective MBA students may doubt whether it is the right time or if they are ready to commit to studying an MBA. While there may never be a perfect time, certain indicators can suggest it could be the right time to enrol:
Given her career aspirations, Jess knew it was the right time to pursue an MBA. “I am an HR consultant and work as a generalist, so the skills gained from an MBA vs a specific Master of Human Resources was more enticing as it gave me greater insight into every component of business. I am a founder of a business, so the skills complemented my need for self-education.”
Although there is unlikely to be a “perfect” time to study an MBA, as life and work commitments will always be prevalent, the above factors can help determine the timing for you.
While the investment in an MBA can be substantial, the potential returns in terms of career advancement and salary increase often justify the expense for many students.
Do you have further questions about MBA costs or the best online MBAs in Australia that haven’t been covered in this article? Our Student Enrolment Advisors are experts and can provide individual advice to help you decide.
Whether you’re ready to enrol, or just have a quick question, simply fill out the enquiry form below to speak directly to the university’s enrolment team. They will be able to guide you through:
