There are a number of different ranking systems for the Australian MBA programs including listings in the global world MBA rankings and other domestic rankings with a local approach. Most of these involve an analysis of various components relating to a mixture of objective factors such as business school metrics and graduate outcomes and also more subjective factors relating to the student experience. However there is an ongoing problem in determining which is the top MBA in Australia or even the best Australian MBA because of the metrics used and how the criteria for assessment relates to a prospective student's particular requirements in pursuing this form of postgraduate business studies.
The Australian MBA programs provided by AGSM and MBA have been the only Australian entries listed over previous years and have both been dropping from once being in the top 50 to now only remaining in the top 100. However things have changed in 2015 with Macquarie entering the top 100 for the first time and securing position 68 making it the top ranked Australian MBA in the FT ranking system. This is good news for Macquarie and the university would be hoping it provides a boost to its general university rankings.
|75||62||48||41||AGSM University of New South Wales|
|90||68||62||46||University of Melbourne|
The FT (Financial Times) Global MBA rankings is one of a set of international rankings conducted by the media entity. The Global MBA FT ranking system focuses the ranking on objective criteria rather than on alumni responses, but the problem is that a very high weighting is giving to alumni salary and this skews the results towards countries and cities with higher rates of pay for MBA graduates. FT attempts to deal with this problem by applying purchasing power parity to salaries (PPP), but it is not clear how well this achieved.
The main criteria used in the rankings (with the percentage weighting in brackets) are:
- Weighted salary (20): average alumnus salary three years after graduation
- Salary increase (20): average difference in alumni salary before the MBA to now
- FT research rank (10): from the number of research articles published in approved publications
Other factors used in the rankings include: Value for money (3), Career progress (3), Aims achieved (3), Placement success (2), Employed at three months (2), Alumni recommend (2), Female faculty (2), Female students (2), Women board (1), International faculty (4), International students (4), International board (2), International mobility (6), International course experience (3), Languages (1), Faculty with doctorates (5), and FT doctoral rank (5).
The Boss / Australian Financial Review AFR Australian MBA rankings have become a popular reference source partly owing to their promotion through Fairfax Media. The rankings are released on a biennale basis and rely on business school and alumni participation for completion. The key features of the ranking system are:
- Schools that participate can earn a maximum of 100 points.
- 55 points based on responses from alumni who have graduated within the past three years.
- 35 points based on data provided by the schools
- 10 points allocated to research output based on Excellence in Research Australia
|1||University of Queensland|
|2||University of Melbourne|
|3||Queensland University of Technology|
|4||University of South Australia|
|7||AGSM University of New South Wales|
|8||University of Southern Queensland|
|10||University of Adelaide|
|11||University of Western Australia|
|12||La Trobe University|
|13||Australian Institute of Management|
|17||Chifley Business School|
|18||University of Wollongong|
Boss has also ranked the Australian Executive MBA (EMBA) program offerings with the following results.
|Rank||Executive MBA Provider|
|1||University of Sydney|
|2||University of Melbourne|
|4||Queensland University of Technology|
|5||University of Wollongong|
|6||AGSM University of New South Wales|
|7||University of Technology Sydney|
The Graduate Management Association of Australia (GMAA) conducts a survey of MBA providers before allocating star rankings based on the results, with the highest ranking providers receiving a 5 star ranking. The main focus of the GMAA rankings is on the business school and program rather than on student experiences and outcomes.
The GMAA rankings uses 47 questions to produce the assessment made of:
- Mandatory pre-assessment matters (4 criteria)
- Institutions’ links with the business community and overseas schools (9 criteria)
- The size, diversity and experience of the academic staff (11 criteria)
- Support facilities the institution provides to assist students / graduates (5 criteria)
- Entry requirements for prospective students (6 criteria)
- The size and diversity of the student population (3 criteria)
- The program length and content (5 criteria)
- Matters relating to accreditation (4 criteria)
The following table presents the most recent GMAA 5 star ranked MBAs in alphabetical order:
|La Trobe University|
|Queensland University of Technology|
|University of Adelaide|
|University of Queensland|
|University of South Australia|
|University of Western Australia|
Australia had 3 MBAs in the top 50 (the only Australian MBAs in the top 100) with University of Queensland dropping a couple of places since 2013 but still maintaining a creditable ranking at number 16. MBS and Macquarie maintained their general positions, with Macquarie continuing its gradual improvement since 2011.
The Economist Global Rankings of Australian MBA Programs
|16||14||27||46||University of Queensland|
|40||27||38||32||University of Melbourne|
The Economist MBA ranking methodology covers a range of components grouped together within four categories. These categories with their weighting percentage and number of components are:
- Open new career opportunities (35% - 4 components)
- Personal development / education experience (35% - 12 components)
- Increase in salary (20% - 2 components)
- Potential to network (10% - 3 components)
Forbes' main MBA ranking focus is on the domestic American program offerings and it accordingly presents a separate MBA rankings table for MBA programs outside of the United States. The main emphasis of the Forbes rankings is on salary increase, years it takes for this increase to pay for the tuition, and the medium GMAT score.
AGSM was the only entrant In the latest round of the Forbes rankings of MBA programs outside of the United States, coming in at number 24.
Forbes Rankings of MBA Programs Outside the US
|Rank||Business School||Years to Payback||Median GMAT|
|24||AGSM University of New South Wales||4.4||630|
The US News top 100 economics and business school rankings system is based on a range of variables including academic research performance along wth regional and global reputation within this particular area of study. The field itself extends beyond just the MBA itself to include individual subjects such as organisational science, management, finance, and human resources.
|Aus Rank||University||World Rank|
|1||University of Melbourne||37|
|2||University of New South Wales||55=|
|3||Australian National University||60|
|4||University of Sydney||66=|
|5||University of Queensland||71|
|7||University of Technology Sydney||95|
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