Chances are at some point; you will have heard the term ‘MBA’. Perhaps you’ve seen it listed as a desirable qualification in a job ad, or maybe you know someone who has studied one. So, exactly what is an MBA? Let’s dive in and discover the ins and outs.
An MBA (Master of Business Administration) is a globally-recognised postgraduate qualification. With a focus on enhancing business management skills, an MBA gives graduates the capabilities and self-development tools to move into and succeed in a variety of executive leadership positions.
So, is an MBA worth it in Australia? Let’s unpack things further.
3 reasons to study an MBA
1. Gain a competitive edgeThe job market can be a highly competitive space. Depending on your field of expertise, it’s not unheard of for one job opening to attract hundreds of applicants. Here’s where the benefit of an MBA can come into play. Even if you don’t need an MBA qualification for the role, having one may be the thing that gets you over the line. Employers know the value of an MBA education and skills that come with it. Having this qualification on your resume could be the difference between advancing in the application process or losing out to another applicant.
2. Increase your earningsIt stands to reason that the higher you climb the corporate ladder, the higher your earning potential will likely become. With more job opportunities available to you as an MBA graduate, you have the potential to increase your salary substantially. According to Fortune.com, despite the upfront financial cost of an MBA degree, studies show graduates often benefit from an increased earning potential and a higher salary over time.
3. Climb the ladder to successA USQ Master of Business Administration transforms your thinking, taking you from an operational management level to a strategic business leader. After graduation, you’ll walk away with the skills of an executive leader, ready to rise above the noise, face uncomfortable truths and motivate your team to get things done. If it’s your dream to land an executive level position, an MBA will open many more doors to opportunities that may have been unattainable otherwise.
How long does an MBA take?
A key factor when considering any type of study, is time. Most of us have other existing commitments in life, be it family, work or social responsibilities. Before you embark on a new learning journey, it is important then to know how much time you’ll be required to invest. So, exactly how long does an MBA take? Generally, an MBA in Australia will take 1 to 2 years to complete. This duration will vary however depending on whether you choose to study full-time or part-time.
If you choose to study at USQ, you have the option to graduate within 12 months of starting your degree. Our Master of Business Administration features six 8-week blocks of online study, allowing you to fast-track your qualification and reach your career aspirations faster. If you choose this full-time study option, you’ll complete two subjects at a time over the 8-week teaching period.
We know full time-study may not be possible for everyone though. That’s why it’s important to be aware of our flexible study options. If a reduced study load is more conducive to your current lifestyle, you can pursue the part-time equivalent to help strike a good balance between study and the other demands of life.
USQ student Rachael Haynes has experienced the benefit of such flexible learning. As Australian Women’s Cricket Vice-Captain, Rachael’s career sees her travelling frequently around the globe. But as well as representing her country in the sport she loves; she is also completing a Master of Business Administration with USQ.
'After the excitement of our team turning fully professional, I wanted to also ensure that I was preparing myself for life after sport,' Ms Haynes said.
Rachel commented that the best thing about USQ’s MBA was that she could continue to do it anywhere in the world.
'I could be in India one month, UK the next – so I really needed to find a course that was going to support me through that type of environment and allow me to be flexible.'
At the end of the day, the beauty of USQ’s 100% online and completely flexible MBA is that you are in control of when, where, and how you learn. Our MBA’s short, eight-week teaching periods mean you can choose to start when it suits you.
How much does an MBA cost in Australia?
The cost of an MBA in Australia can differ significantly depending on who you choose to study with so it’s a good idea to do your research and check with each individual learning institution you are considering.
If you are exploring study with the University of Southern Queensland, you can view our Master of Business Administration for detailed fee information.
Depending on your circumstances, you may be eligible for a FEE-HELP loan, meaning you don't pay for your MBA up-front, and instead defer your fees until your annual income reaches a certain amount. You may also be eligible for fee assistance from Centrelink based on your individual situation.
Can you study an MBA without a degree?
Entry requirements into an MBA will vary across each learning institution. Most will usually require a bachelor degree (with a minimum GPA requirement) along with a certain duration of professional work experience. If you do not meet the entry requirements for admission, there are often articulation options available to help you reach your MBA goal, such as USQ’s Graduate Certificate of Business Administration.
For specific details about the University of Southern Queensland’s admission criteria, see the entry requirements section of our Master of Business Administration.
Remember, if you’re completely new to university you can always get your study journey started with one of our pathway programs. Talk to our friendly team via phone, live chat, email or book a specialised Pathways Discussion to talk through how we can help you on the way to achieving your study goals.
What does an MBA cover?
No MBA program is the same, however the core teachings of an MBA are focussed around mastering business management practices and enhancing leadership skills. Coursework can include topic areas such as communication, strategic thinking, consulting, marketing, corporate finance, economics and human resource management.
The University of Southern Queensland's MBA delivers an exceptional learning experience and develops strategic executive leaders. Covering an array of industry-relevant subject areas, your MBA studies will allow you to refine and enhance your personal attributes and professional skills, giving you the confidence to address business challenges and capitalise on emergent local and global opportunities. You’ll learn to harness evidence-based knowledge to transform business and drive innovative and sustainable performance culture across various networks of people.
A great feature of our MBA is that there are no exams. Instead, all assignments are workplace related so you can solve specific problems in a real-world business context. USQ’s interdisciplinary team of lecturers, graphic designers, teaching experts and industry advisors mean you’re learning the most industry-relevant subjects.
MBA student Kirsty Kelly enrolled in a Master of Business Administration wanting to gain the knowledge to benefit her career in the long-term.
‘Applying the theory from my MBA to workplace scenarios has opened up new avenues of thinking for me, which I think will support my career growth’.
The flexible nature of online study allows Kirsty to balance study with family life, as well as a small business. The opportunities for global networking have increased her self-motivation levels and capability to implement ‘change management’ into her workplace.
Upon completion of your MBA from USQ, you’ll have enhanced your professional communication skills and developed the confidence to influence internal and external stakeholders at a local and global level. Armed with these learnings, you’ll be serious contender for coveted senior and executive roles.
What are the job opportunities after MBA?
An MBA gives you a competitive edge and opens doors to a broader range of high-level employment opportunities. With the specialist knowledge gained through your studies, you’ll be prepared to enter a variety of highly sought executive positions, such as CEO, Senior Executive, Business Consultant, Entrepreneur or Chief Financial Officer, just to name a few.
What’s next? Innovate your future with a degree that is flexible, fast and 100% online.
If you’re ready to take the next step and embark on an MBA journey, we’re here to help. We understand that it may have been a while since you last completed study; or perhaps you have specific questions about our MBA program. If so, we recommend reaching out and booking an appointment to discuss your postgraduate business study options. Our MBA Specialists are available to answer any questions, from the rational and design of the program, to the application process, so you can get all the information you need before making this next step in your career journey.