The 2017 report sees the Melbourne Business School drop to No.3, after last topping the list in 2011, with the University of Queensland Business School falling from No.1 where it stood since 2013, to No.2. The University of Sydney was ranked first in terms of both overall and student satisfaction.
Among executive MBA courses QUT Graduate School of Business was ranked first, Melbourne Business School second, and the University of Sydney Business School third. Executive MBAs compress teaching into modules allowing minimal time off work.
BOSS found the Melbourne Business School to offer the best value-for-money MBA course nationwide, followed by the University of Sydney Business School (No.2) and University of Southern Queensland (No.3).
The MBA changes to meet shifting demands
BOSS’ special analysis reveals a growing push for programme revamps in order to meet the changing demands of employers, recruiters, and students. The in-depth study, the culmination of months of work by the Financial Review’s research team, also highlights growing demand for MBAs among international and undergraduate students.
Demand from domestic postgraduate students, on the other hand, was found to be shrinking, especially for full-time MBA programmes. Joanne Gray, editor of BOSS magazine and Leadership at The Australian Financial Review, said:
“We have found that many MBA programmes, which can cost upwards of AUD 60,000, are undergoing extreme makeovers, with greater emphasis on creativity, critical analysis, interpersonal relationships and a systems-approach to problem-solving. These courses are very different to the norm of 20 years ago when traditional subjects such as accounting, marketing, and organisational change were the focus.”
The ranking process for the 2017 BOSS MBA rankings began late last year, when the database of MBAs offered by business schools in Australian universities and other higher education providers was reviewed.
Business schools were invited to comment on the methodology and minor changes were made in 2017, including the EFMD Programme Accreditation System (EPAS) accreditation and the allocation of points to schools that include a formal project with an external organisation to solve a real-life business problem.
The data for the ranking report is captured via participating schools answering a detailed questionnaire, as well as a survey that goes to alumni who have graduated in the past three years.
The survey asks them about their satisfaction with the course and level of improvement they felt it had made to their business skills, as well as whether they considered their MBA value for money.
Entry requirements for top three
If you want to study for an MBA at the top-ranked University of Sydney Business School and English is not your first language, you will need to provide evidence of English language proficiency by achieving an IELTS (academic) score of 7.0, with at least 6.0 in each of the four components. If your academic record (a minimum GPA of 65) or work experience (at least three years) meet the criteria, you don’t have to sit for the GMAT. Otherwise, you need to achieve a score of 600+ (range 550–700).
At UQ Business School, applicants for the MBA programme must have four years’ full-time work experience, including at least two of the four years in a dedicated supervisory/management role. International applicants must complete the GMAT with a minimum score of 550 and also submit an IELTS score of at least 6.5 overall, with no sub-score less than 6.0.
At Melbourne Business School the GMAT is obligatory for MBA candidates. As a guide, recent students have achieved an average of 705 or higher. The school does not accept the GRE. International candidates need to achieve an IELTS score of at least 7.0 overall, with no sub-score less than 6.5, or TOEFL IBT of at least 102, with a written score minimum of 24 and no individual score lower than 21.
BOSS 2017 Australian MBA rankings
- The University of Sydney Business School
- UQ Business School, University of Queensland
- Melbourne Business School
- Griffith Business School, Griffith University
- Adelaide Business School, University of Adelaide
- QUT Graduate School of Business
- University of South Australia Business School
- Curtin Graduate School of Business
- School of Business and Law, Central Queensland University
- Bond Business School
Source: Bendigo Advertiser