Content Curator | Updated On - May 3, 2024
Masters in Finance in Australia is offered as M.Com, M.Fin and Master of Business degrees. It deals with different facets of finance including practical and theoretical approaches. Additionally, this course is beneficial for students who want to excel in roles within the banking, investment, corporate finance, or consulting sectors.
The duration of a full-time Masters in Finance in Australia ranges from 1 to 1.5 years while a part-time program can be completed in 2 to 3 years. For admission to MSc Finance in Australia, applicants are required to have a bachelor's in commerce, finance or related discipline.
Australia offers promising career prospects and attractive salary packages after completion of Masters in Finance in Australia. An accounting and finance student can easily earn an average salary of 81,000 AUD (44 lakhs INR) per year.
Masters in Finance in Australia: Highlights
| Courses Available | Master of Commerce: Finance | Master of Finance |
| Course Type | Full-time | Part-time |
| Program Duration | 1-3 years |
| Degree Requirement | Bachelor's degree in commerce, finance or related discipline |
| GPA | 4.5 GPA on a 7.0 scale (65%) |
| English Proficiency Requirements | IELTS scores: 6.5 to 7.0 |
| Annual Tuition Fees | 34,000-73,000 AUD (18-39 lakhs INR) |
| Annual Salary Range | 81,000 AUD (44 lakhs INR) |
Top universities in Australia for Masters in Finance
According to the QS News World University Ranking of 2024, following are the top 10 universities in Australia for Masters in Finance:
| QS Rankings 2024 | University | Program Offered | Application Deadlines | Tuition Fee (AUD) |
|---|---|---|---|---|
| #14 | University of Melbourne | M.Mgmt Finance | October 31, 2024 | 52,448 |
| #19 | University of Sydney | Master of Commerce: Finance | June 25, 2024 | 54,000 |
| #19 | University of New South Wales | Master of Finance | Rolling Basis | 35,760 |
| #34 | Australian National University | Master of Finance | Rolling Basis | 46,680 |
| #43 | University of Queensland | Master of Commerce: Applied Finance | June 30, 2024 | 48,160 |
| #89 | University of Adelaide | Master of Finance | Rolling Basis | 49,900 |
| #90 | University of Technology, Sydney | Master of Finance | April 30, 2024 | 73,512 |
| #162 | University of Wollongong | Master of Applied Finance | June 30, 2024 | 67,392 |
| #183 | Curtin University | Master of Finance | Applications closed | 34,671 |
| #189 | Queensland University of Technology | Master of Business: Applied Finance | Rolling Basis | 36,800 |
Why Study Masters in Finance in Australia?
Masters in Finance in Australia is one of the popular streams among students due to the immense job opportunities and continuously increasing salaries of accounting and finance graduates. According to the QS World University Rankings by Subject, 6 universities in Australia are ranked among the top 50 universities in the world for Accounts and Finance Studies.
| Factor | Australia | UK | USA |
|---|---|---|---|
| Market | Stable and growing medium-sized financial market | One of the largest and most established financial markets globally | Stable and growing large-sized financial market |
| Finance Hubs | Sydney, Melbourne | London | New York, Chicago, Boston |
| Market Size | 29.95 million USD | 275 billion USD | 0.58 billion USD |
| Tuition Fees | 34,000-73,000 AUD (18-39 lakhs INR) | 23,000-47,000 GBP (24-49 lakhs INR) | 20,000-75,000 USD (17-64 lakhs INR) |
| Post Graduate Work Opportunities | Temporary Graduate Visa (for recently graduated students, lasting for 18 months) | Tier 4 visa (part-time work during studies and full-time work during vacations) | Graduate Route visa (work for up to 2 years after studies) | OPT Training for up to 12 months. H-1B visa sponsorship available for employment in specialized fields |
| Average Salary | 81,000 AUD (44 lakhs INR) | 39,000-99,000 GBP (41 lakhs-1 crore INR) | 76,850 USD (64 lakhs INR) |
Masters in Finance in Australia Requirements
Most of the Australian universities offer masters in finance degrees via their business schools. Hence, the admission process applicable for management colleges in Australia will also apply to a master in finance admission.
Masters in Finance in Australia Eligibility Criteria
- Undergraduate Degree: Bachelors in business, commerce or equivalent discipline is required to get admission to the masters in Finance in Australia. Some universities such as the University of Sydney accept students from all disciplines.
Following are the minimum grades required at the undergraduate level for admission to MSc Finance in Australia:
| University | Minimum UG Grades Required |
|---|---|
| University of Melbourne | 65% |
| University of Sydney | 65% |
| UNSW | 65% |
| University of Queensland | 4.50 GPA on a 7 point scale |
| Australian National University | 5.0 GPA on a 7 point scale |
| University of Wollongong | 50% |
| Queensland University of Technology | 4.0 GPA on a 7 point scale |
- GRE Score: A GRE score is required by very few universities for Masters in Finance in Australia admission. In some cases, students not having minimum eligibility grades in the bachelor's degree can submit a GRE score as a substitute.
- Work Experience: Optional, relevant work experience in the field of finance gives students an edge in the admission process of masters in finance in Australia.
- Reference Letters: Two or more reference letters from an employer or professors of an undergraduate degree.
- English Proficiency Requirement: International students coming from a country where English is not the first language are required to demonstrate proficiency in English by submitting IELTS test scores.
| University | Minimum IELTS Score Required |
|---|---|
| University of Melbourne | 7.0 |
| University of Sydney | 7.0 |
| University of New South Wales | 7.0 |
| University of Adelaide | 6.5 |
| University of Technology Sydney | 6.5 |
| University of Wollongong | 6.5 |
| Queensland University of Technology | 6.5 |
| Curtin University | 6.5 |
| University of South Australia | 6.5 |
Cost of Studying Masters in Finance in Australia
The total cost of education for students wishing to study in Australia is given below. To ensure a smooth experience, it is always preferable to be aware of the costs involved and optimize the budget beforehand.
Masters in Finance in Australia Fees
The tuition fees for admission to the top universities for Masters in Finance in Australia is as follows:
| University | Tuition Fee (AUD) | Tuition Fee (INR) |
|---|---|---|
| University of Melbourne | 52,448 | 28 lakhs |
| University of Sydney | 54,000 | 29 lakhs |
| University of New South Wales | 35,760 | 19 lakhs |
| Australian National University | 46,680 | 25 lakhs |
| University of Queensland | 48,160 | 26 lakhs |
| University of Adelaide | 49,900 | 27 lakhs |
| University of Technology, Sydney | 73,512 | 39 lakhs |
| University of Wollongong | 67,392 | 36 lakhs |
| Curtin University | 34,671 | 18 lakhs |
| Queensland University of Technology | 36,800 | 20 lakhs |
Cost of Living in Australia
The estimated monthly cost of living in Australia is 2,326 AUD (1.26 lakhs INR). The breakdown of the associated costs is provided in the table below:
| Expense Type | Average Cost (AUD) | Cost Equivalent (INR) |
|---|---|---|
| Accommodation | 1,495 | 81,300 |
| Food | 312 | 16,900 |
| Travel | 150 | 8,100 |
| Internet | 76 | 4,100 |
| Utilities | 207 | 11,200 |
| Miscellaneous | 86 | 4,600 |
Scholarships for Masters in Finance in Australia
Scholarships for international students in Australia are offered by respective universities, government, third-party agencies, etc. Both need-based and merit-based scholarships are offered to international students.
- UTS Vice-Chancellor’s International Postgraduate Coursework Scholarship: Full tuition fees coverage
- Sydney International Student Award: 20% off tuition fees
- UNSW International Student Award: 15% off tuition fees
- University of Queensland International High Achievers Scholarship: 10,000 AUD
Masters in Finance in Australia Salary
After completion, students can look for jobs in Australia in sectors like Banks and Insurance Companies, Corporate Management, Brokerage Firms, Investment Services and International Financial Management.
The average annual income of an accounting and finance graduate in Australia is 81,000 AUD (44 lakhs INR) per annum, depending upon the experience, skills and career profile chosen.
| Job Role | Average Salary (AUD) | Average Salary (INR) |
|---|---|---|
| Business Analyst | 77,397 | 42 lakhs |
| Financial Controller | 107,186 | 58 lakhs |
| Senior Buyer | 67,366 | 36 lakhs |
| Operations Analyst | 68,108 | 37 lakhs |
| Financial Advisor | 104,570 | 56 lakhs |
| Accountant | 65,578 | 35 lakhs |
| Bookkeeper | 49,282 | 26 lakhs |
| Junior Paraplanner | 53,924 | 29 lakhs |
| Management Accountant | 87,438 | 47 lakhs |
| Management Consultant | 90,051 | 48 lakhs |
| Admissions Officer | 61,069 | 33 lakhs |
| Actuary | 105,343 | 57 lakhs |
Students prefer to study Masters in Finance in Australia since the degree can be completed within one to 1.5 years and is recognized everywhere else in the world. You can also apply for one of the temporary Australian visas such as Skilled Graduate Temporary Visa or Post-Study Work Visa in Australia immediately after completion of education to work in the country.
FAQs
Ques. How much does a Masters in Finance cost in Australia?
Ans. The tuition fee of the popular universities for Masters in Finance in Australia ranges around 34,000-73,000 AUD. For Indian students planning to study Masters in Finance in Australia, this cost ranges around 18-39 lakhs INR. The tuition fees for admission to the top universities for Masters in Finance in Australia is as follows:
| University | Tuition Fee (AUD) | Tuition Fee (INR) |
|---|---|---|
| University of Melbourne | 52,448 | 28 lakhs |
| University of Sydney | 54,000 | 29 lakhs |
| University of New South Wales | 35,760 | 19 lakhs |
| Australian National University | 46,680 | 25 lakhs |
| University of Queensland | 48,160 | 26 lakhs |
Ques. Is a Masters in Finance in demand in Australia?
Ans. Masters in Finance in Australia is one of the popular streams among students due to the immense job opportunities and continuously increasing salaries of accounting and finance graduates. According to the QS World University Rankings by Subject, 6 universities in Australia are ranked among the top 50 universities in the world for Accounts and Finance Studies.
Ques. What is the salary in Australia after a Masters in Finance?
Ans. The average annual income of an accounting and finance graduate in Australia is 81,000 AUD (44 lakhs INR) per annum, depending upon the experience, skills and career profile chosen.
| Job Role | Average Salary (AUD) | Average Salary (INR) |
|---|---|---|
| Business Analyst | 77,397 | 42 lakhs |
| Financial Controller | 107,186 | 58 lakhs |
| Financial Advisor | 104,570 | 56 lakhs |
| Accountant | 65,578 | 35 lakhs |
| Management Consultant | 90,051 | 48 lakhs |
| Actuary | 105,343 | 57 lakhs |
Ques. Is GMAT required for Masters in Finance in Australia?
Ans. A GRE/GMAT score is required by very few universities for Masters in Finance in Australia admission. In some cases, students not having minimum eligibility grades in the bachelor's degree can submit a GRE/GMAT score as a substitute.
Ques. What do you need for a Masters in Finance in Australia?
Ans. Most of the Australian universities offer masters in finance degrees via their business schools. Hence, the admission process applicable for management colleges in Australia will also apply to a master in finance admission.
- Bachelors in business, commerce or equivalent discipline with an overall aggregate of 65-70% is required to get admission to the masters in Finance in Australia.
- A GRE score is required by very few universities for Masters in Finance in Australia admission.
- Optional, relevant work experience in the field of finance gives students an edge in the admission process of masters in finance in Australia.
- Two or more reference letters from an employer or professors of an undergraduate degree.
- English Proficiency Requirement:
- IELTS: 6.5-7.0
- Australia Student Visa
Ques. Is Australia good for Masters in Finance?
Ans. The top universities for Masters in Finance in Australia like the Australian National University, University of New South Wales, and University of Sydney are among the top 50 universities in the world, as per the QS World Rankings 2024. The average annual income of an accounting and finance graduate in Australia is 81,000 AUD (44 lakhs INR) per annum, depending upon the experience, skills and career profile chosen.
Ques. What are the best universities in Australia for the master of finance program?
Ans. According to the QS News World University Ranking of 2024, following are some of the top universities in Australia for Masters in Finance:
- University of Melbourne
- University of Sydney
- University of New South Wales
- University of Queensland
- Australian National University
- University of Adelaide
Ques.Does finance have scope in Australia?
Ans. Students can get jobs in Banks and Insurance Companies, Corporate Management, Brokerage Firms, Financial Planning for Individuals and Organizations, International Financial Management and Investment Services. An average salary of 81,000 AUD (44 lakhs INR) per annum can be earned after completion of a master of finance from Australia.
1691049277.png?tr=w-305,h-145,c-force?h=175&w=350&mode=crop)
1721115407.png?tr=w-305,h-145,c-force?h=175&w=350&mode=crop)
1691149474.png?tr=w-305,h-145,c-force?h=175&w=350&mode=crop)
Comments