In This Article
- Finding the cheapest MBA that offers the most value to you
- What’s the average cost of an online MBA in Australia
- How much is the cheapest MBA in Australia?
- Let’s break that cost down per unit
- The cost benefits of an online MBA
- The role of MBA ranking and accreditations
- Ready to invest in your future?
In Australia, MBA programs range from top-shelf courses at prestigious universities to more affordable alternatives through reputable smaller institutions. When choosing between an expensive course and the cheapest online MBA in Australia, it’s important to remember that no one program can guarantee a better outcome. Here's why.
Finding the cheapest MBA that offers the most value to you
For some students, brand is everything. These students aim to study at a specific institution known for excellence or successful graduate placement, regardless of the cost.
The thing is, an expensive MBA doesn’t equal a better MBA. Cheaper courses can catapult your career too.
While cost is naturally a factor, the right MBA should balance your circumstances with your needs and budget.
At the less expensive end of the Australian MBA cost spectrum is a range of modestly priced courses offering value. Such courses offer participants a full and broad education, introducing a powerful, new set of business skills without the perceived prestige – and expense – of pricier alternatives.
These courses are certainly comprehensive enough to meet the needs of certain students – a growing cohort that includes entrepreneurs, small business and startup founders and managers within the SME environment.
Matthew Jackson, founder of BizziEvents graduated with an MBA before starting his business.
He says, “I think my MBA journey was quite influential in the decision to start my own business. It gave me the tools to get started and enabled me to conduct better research, and that’s through the networking introductions I made during my MBA.”
Matthew agrees that return on investment boils down to commitment and effort. "Everyone talks about the learning you get, but it is about the practical application and the people you meet too. You get back what you put in,” he adds.
Choosing a more affordable online MBA also leaves you with extra funds to start a business, back a startup or invest in a new marketing campaign that aligns with your enhanced strategic business knowledge.
What’s the average cost of an online MBA in Australia?
When comparing prices of online MBAs in Australia, it can help to begin in the middle.
The average price of any type of MBA in Australia is approximately $60,000 in 2025. This includes on-campus and online MBAs. The University of Melbourne’s Senior Executive MBA is the most expensive, which will set you back $153,000. The cheapest option is the Victorian Institute of Technology's online offering at $16,000.
While many on-campus MBAs are offered partly online, studying 100 per cent online will cost you upwards of $16,000, depending on your area of focus.
The cost of each online MBA course listed below is according to the most up-to-date pricing for 2025.
| University | Course name | Total cost | Cost per unit | FEE-HELP |
|---|---|---|---|---|
| Victorian Institute of Technology | Master of Business Administration | $16,000 | $1,000 | FEE-HELP |
| University of New England | Master of Business Administration | $28,472 (indicative first year fee) | $2,124 | FEE-HELP |
| Torrens University | Master of Business Administration (On Demand) | $28,500 | $2,375 | FEE-HELP |
| University of Sunshine Coast | Master of Business Administration | $28,968 (indicative first year fee) | $3,621 | FEE-HELP |
| CQUniversity | Master of Business Administration | $31,980 (indicative first year fee) | $3,997.50 | FEE-HELP |
| Australian Catholic University | Master of Business Administration | $34,440 | $2,870 | FEE-HELP |
| Murdoch University | Master of Business Administration | $44,100 | $3,675 | FEE-HELP |
| Charles Sturt University | Master of Business Administration | $47,600 | $4,050 | FEE-HELP |
| University of Southern Queensland | Master of Business Administration | $47,640 | $3,970 | FEE-HELP |
| Kaplan Business School | Master of Business Administration | $47,880 | $3,990 | FEE-HELP |
| Victoria University | Master of Business Administration | $47,940 | $3,995 | FEE-HELP |
| Southern Cross University | Master of Business Administration | $50,000 | $3,125 | FEE-HELP |
| Swinburne University | Master of Business Administration | $54,480 | $4,540 | FEE-HELP |
| University of Technology Sydney | Master of Business Administration | $54,684 | $4,557 | FEE-HELP |
| Deakin University | Master of Business Administration | $58,588 | $4,850 | FEE-HELP |
| Australian Institute of Business | Master of Business Administration | $58,664 | $4,821 | FEE-HELP |
| La Trobe University | Master of Business Administration | $59,100 | $4,925 | FEE-HELP |
| University of Adelaide | Master of Business Administration | $59,832 | $4,986 | FEE-HELP |
| University of Wollongong | Master of Business Administration | $60,264 | $5,022 | FEE-HELP |
| Monash University | Master of Business Administration (Digital) | $64,800 | $5,400 | FEE-HELP |
| Edith Cowan University | Master of Business Administration | $65,840 | $5,486 | FEE-HELP |
| Griffith University | Master of Business Administration | $67,500 | $5,625 | FEE-HELP |
| University of New South Wales | AGSM Master of Business Administration | $68,500 | $5,670 | FEE-HELP |
| Melbourne Business School | Master of Business Administration | $90,125 | $5,150 | FEE-HELP |
How much is the cheapest MBA in Australia?
The cheapest MBA in Australia can be based on the indicative first year fees you’re expected to pay to study, which is accumulated by the cost of each unit. Here are the top five cheapest MBAs in Australia:
- Victorian Institute of Technology - $8,000
- Torrens University - $19,000
- University of New England - $28,472
- University of Sunshine Coast - $28,968
- CQ University - $31,980
Let’s break that cost down per unit
MBA courses are generally divided into individual units, each focusing on a particular subject or segment within broader areas such as marketing, human resources, management and accounting. It’s important to note that not all units in one course will necessarily cost the same.
When comparing the value of any given MBA, remember that some courses have cheaper unit costs but require the completion of more units and vice-versa. Spreading a course over multiple years can reduce the yearly expense of a pricier MBA.
The cost benefits of an online MBA
There are plenty of cost-related benefits of studying an online MBA as opposed to a traditional, on-campus MBA.
A full-time, on-campus MBA may mean you have to leave your current job, which may pose a financial strain. Studying a part-time MBA while working full-time might be a better option for you.
Opting for an online MBA allows you to manage employment alongside study and reduce the travel, parking, accommodation and other costs of studying on-campus.
Adding to the cost equation, some on-campus MBAs offer (optional) study tours and off-campus excursions. These can vary from visiting local offices to exploring overseas markets, adding extra participation fees. They also commonly involve paid memberships to various professional and social clubs as part of the networking and learning experience. For example, QUT offers an immersive study tour to the MIT Sloan School of Management in the US and other student exchanges to business schools around the world.
Watch out for additional, on-campus fees too. Enrolment, technology, course material, exam and residency fees can quickly add up.
Online MBAs, on the other hand, involve fewer costs. They are flexible to fit around work and other responsibilities, often encouraging integration with projects in your current role and rarely involving travel, excursion costs and hidden fees.
No matter which mode of study you choose, it's important to remember that studying for an MBA is an investment in your future. A short career break now will boost your skill set, create valuable network connections and may increase your earning potential.
The role of MBA ranking and accreditations
Another way to judge the comparative value of MBAs in Australia is to consider how they rate by rankings and cost. There are several ways to do this, depending on which ranking system suits your purpose.
There are four major ranking systems at play, including:
- QS Rankings – focused internationally on five performance lenses: research and discovery, employability and outcomes, global engagement, learning experience and sustainability.
- AFR Boss MBA rankings – focused locally on survey results.
- CEO Magazine MBA rankings – focused internationally on complex data points.
- Times Higher Education rankings – focused internationally on five key areas: teaching, research environment, research quality, international outlook and industry engagement.
The challenge with exploring rankings during your decision-making process is that current ranking systems rarely sync, so you might find a particular university high on one list but not on another.
While rankings can show value, they shouldn't be the only determining factor. Accreditations are another marker of educational excellence. Look for courses that are accredited by the Association to Advance Collegiate Schools of Business (AACSB), the European Quality Improvement System (EQUIS), the European Foundation for Management Development (EFMD) Programme Accreditation System (EPAS) or similar. These are external measures of whether a course is of a certain quality and whether it strikes the correct balance between practical relevance and academic rigour.
Whichever way you measure the value of an MBA, it's important to choose a course that aligns with your career goals and aspirations. "Do your research, speak to the universities on your shortlist and find other students on LinkedIn to seek advice," suggests Matthew.
And keep an open mind. Online MBAs have become increasingly accessible to a broad cross-section of people in the professional world – which is good for you and for business. "The value of connecting with others you wouldn't normally give you further opportunity to learn."
Ready to invest in your future?
Obtaining an MBA degree can be a worthwhile venture for your professional development. As you explore various MBA programs with varying costs offered by top institutions in Australia, remember that selecting the right program for you should be guided by the value it brings to the table, not just the price tag.