$41,930 /Yr
Master of Banking and Finance at Monash University: Fees, Eligibility and Career Outcomes for Indian Students
The Master of Banking and Finance at Monash University (course code B6004) is a 2-year full-time programme based at the Caulfield campus in Melbourne, Australia. Monash ranks #24 globally for Finance and #38 globally for Accounting and Finance (QS World University Rankings by Subject 2026) — placing it #4 in Australia for the discipline. The programme is delivered by the triple-accredited Monash Business School (AACSB, EQUIS and AMBA) and is designed for career changers — no prior finance background is required for Entry Level 1.
The total cost for Indian students is approximately AUD 1,59,800–1,94,800 (~₹1.05–1.28 crores) including tuition and living expenses over 2 years. Graduates are eligible for Australia's Temporary Graduate visa (subclass 485) for 2 years of post-study work. Financial Analyst salaries in Australia range from AUD 75,000–1,30,000 (~₹49.3–85.5 lakhs/year) depending on role and sector.
Admission Status (April 2026): Applications for the July 2026 intake are open now. The February 2027 intake opens around August 2026. Offers are made on a rolling basis — apply early.
- Why Study Master of Banking and Finance at Monash University?
- Monash Master of Banking and Finance Fees for Indian Students (2026)
- Cost of Living in Melbourne for Indian Banking and Finance Students
- Monash Master of Banking and Finance Admissions for Indian Students
- Curriculum Overview
- Monash University Banking and Finance Rankings
- Scholarships for Indian Banking and Finance Students at Monash
- Career Outcomes and Placements
- ROI: Is the Monash Master of Banking and Finance Worth It for Indian Students?
- FAQs
Why Study Master of Banking and Finance at Monash University?
- #24 globally for Finance: Monash's Finance subject ranking (QS 2026) places it among the top 25 finance programmes in the world — and #4 in Australia.
- Triple-accredited Business School: AACSB, EQUIS and AMBA — one of only ~1% of business schools globally to hold all three accreditations.
- Designed for career changers: Entry Level 1 accepts any bachelor's degree with a 60%+ average — no prior finance or commerce background required.
- Three entry levels: Students with a finance background can complete the programme in 1.5 years (Entry Level 2) or 1 year (Entry Level 3) — significantly reducing cost and time.
- Post-study work rights: 2-year Temporary Graduate visa (subclass 485) with unrestricted work rights after graduation.
Monash Master of Banking and Finance Fees for Indian Students (2026)
Exchange rate used: AUD 1 = ₹65.74 (as of April 13, 2026 — Wise/Investing.com). All INR figures are approximate and subject to rate fluctuations.
| Fee Component | Per Year (AUD) | Per Year (INR) |
|---|---|---|
| Tuition Fee (2026, international) | AUD 59,900 | ₹39.4 lakhs |
| Total — Entry Level 1 (2 years) | AUD 1,19,800 | ~₹78.7 lakhs |
| Total — Entry Level 2 (1.5 years) | AUD 89,850 | ~₹59 lakhs |
| Total — Entry Level 3 (1 year) | AUD 59,900 | ~₹39.4 lakhs |
Entry Level 1 (96 credit points, 2 years): Any bachelor's degree with a minimum 60% average. Entry Level 2 (72 credit points, 1.5 years): Bachelor's degree in a cognate finance or commerce discipline with a minimum 60% average. Entry Level 3 (48 credit points, 1 year): An honours degree or equivalent in a cognate discipline with a minimum 60% average. Indian students from B.Com (Finance/Banking), BBA (Finance), B.Sc. (Economics) or engineering backgrounds with relevant finance coursework should confirm their entry level directly with Monash Business School admissions.
Cost of Living in Melbourne for Indian Banking and Finance Students
Monash University officially estimates AUD 30,000–45,000/year for a single international student's living expenses (excluding tuition). The Caulfield campus is in inner Melbourne — well-connected to the CBD and Melbourne's financial district.
| Expense Category | Monthly (AUD) | Monthly (INR) |
|---|---|---|
| Food & groceries | AUD 250–400 | ₹16,400–₹26,300 |
| Transport (Myki card) | AUD 120–180 | ₹7,900–₹11,800 |
| Utilities & phone | AUD 80–120 | ₹5,300–₹7,900 |
| Books & software | AUD 50–80 | ₹3,300–₹5,300 |
| Recreation & social | AUD 150–250 | ₹9,900–₹16,400 |
| Total (excl. accommodation) | AUD 650–1,030 | ₹42,700–₹67,700 |
On-Campus Accommodation (Caulfield/Clayton, 2026 official rates):
| Room Type | Annual Cost (AUD) | Annual Cost (INR) |
|---|---|---|
| Shared flat (3–5 bed) | AUD 14,377 | ₹9.45 lakhs |
| Standard bedroom with private bathroom | AUD 16,185 | ₹10.6 lakhs |
| Studio apartment | AUD 19,824 | ₹13 lakhs |
| 1-bedroom apartment | AUD 21,202 | ₹13.9 lakhs |
Off-campus private rentals near Caulfield typically cost AUD 1,100–1,600/month (~₹72,300–₹1.05 lakhs).
Part-time work: On an Australian Student visa (subclass 500), you can work 48 hours per fortnight during term time. At Australia's minimum wage of AUD 24.10/hour (2025), this allows you to earn approximately AUD 1,157/fortnight (~₹76,100). Banking and finance students often find junior financial analyst, bank teller or accounts assistant roles paying AUD 25–40/hour.
Monash Master of Banking and Finance Admissions for Indian Students
Intakes and Deadlines:
| Intake | Start Date | Application Status |
|---|---|---|
| July 2026 | July 2026 | Open — apply now (rolling) |
| February 2027 | February 2027 | Opens ~August 2026 |
Eligibility (Indian Equivalents):
- Entry Level 1 (2 years): Any bachelor's degree from a recognised Indian university with a minimum credit average (60%+). No prior finance background required.
- Entry Level 2 (1.5 years): Bachelor's degree in a cognate discipline (B.Com, BBA, B.Sc. Economics, B.Tech with finance coursework) with a minimum credit average (60%+).
- Entry Level 3 (1 year): Honours degree or equivalent in a cognate discipline with a minimum credit average (60%+), or a qualification and experience deemed equivalent by the faculty.
- No GMAT or GRE required
Application Process:
- Apply online via the Monash University international application portal
- Submit academic transcripts (with certified English translation if applicable)
- Certified copy of passport
- English language proficiency evidence
- No application fee for direct applications via Monash portal
English Language Proficiency (ELP):
| Test | Minimum Score |
|---|---|
| IELTS Academic | 6.5 overall, no band below 6.0 |
| TOEFL iBT | 79 overall (Reading 13, Listening 12, Speaking 18, Writing 21) |
| PTE Academic | 58 overall |
Indian students who completed their undergraduate degree taught in English at a recognised Indian institution may be eligible for an ELP waiver — confirm directly with Monash Business School admissions.
Curriculum Overview
The Master of Banking and Finance is structured in three parts. The 2026 course progression map confirms the following unit sequence.
Part A — Advanced Preparatory Studies (Entry Level 1 only, 24 credit points):
- ACX5903 Accounting for Business
- BFF5925 Financial Management Theory
- ECX5953 Economics
- ETX5900 Business Statistics
Part B — Core Studies (48 credit points — 8 units):
- BFF5926 Financial Institutions and Markets
- BFF5914 Bank Lending
- BFF5916 International Banking
- BFF5280 Institutional Asset and Liability Management
- BFF5935 Portfolio Management and Theory
- BFF5915 Options, Futures and Risk Management
- BFF5130 Case Studies in Banking and Finance
- BFF5936 Financial Modelling or BFX5260 Treasury and Financial Markets
Part C — Elective Studies (24 credit points — choose from 5 themed streams):
| Elective Theme | Sample Units |
|---|---|
| Corporate Finance | Financial Statement Analysis, Mergers and Acquisitions |
| Risk Management | Introduction to Risk Management, Banking and Finance Regulation, Quantitative Methods for Risk Analysis |
| Investments | Funds Management, Treasury and Financial Markets |
| Data & Quantitative Analysis | Financial Econometrics, High Dimensional Data Analysis, Python Programming |
| Sustainability & Ethics | Climate Change and Carbon Management, Corporate Sustainability Regulation |
| International Perspective | BFX5860 International Study Program in Banking and Finance |
Alternative exits available:
- Graduate Certificate of Business (B4001) — exit after 24 credit points
- Graduate Diploma of Business (B5001) — exit after 48 credit points
Monash University Banking and Finance Rankings
| Ranking Body | Subject / Category | Rank | Year |
|---|---|---|---|
| QS World University Rankings by Subject | Finance | #24 globally | 2026 |
| QS World University Rankings by Subject | Accounting and Finance | #38 globally / #4 in Australia | 2026 |
| QS World University Rankings | Overall | #37 globally | 2026 |
| QS Graduate Employability Rankings | Graduate Employability | #41 globally | 2025 |
| Accreditation (Business School) | AACSB, EQUIS, AMBA | Triple Accredited | Active |
Monash Business School is one of only ~1% of business schools globally to hold all three major accreditations — AACSB, EQUIS and AMBA — simultaneously.
Scholarships for Indian Banking and Finance Students at Monash
| Scholarship | Value | Eligibility | Deadline |
|---|---|---|---|
| Monash International Merit Scholarship | Up to AUD 10,000 (~₹6.6 lakhs) off tuition | GPA 95/100+ equivalent; automatic consideration | Rolling |
| Monash International Leadership Scholarship | Partial tuition support | Leadership potential; international students | May 10, 2026 (check 2027 dates) |
| Monash Business School Excellence Scholarship | Partial tuition | High academic achievement; Business School entry | Check official Business School page |
| Monash Innovation Guarantee (MIG) Grant | Course credit (6 cp) | Participation in MIG industry project | Available each semester |
The Monash International Merit Scholarship is automatically considered at the time of application — no separate form required.
Career Outcomes and Placements
Monash Master of Banking and Finance graduates are hired across Melbourne's banking, financial services and consulting sectors:
| Role | Salary (AUD) | Salary (INR) |
|---|---|---|
| Graduate Financial Analyst (entry) | AUD 75,000–90,000 | ₹49.3–59.2 lakhs |
| Risk Analyst / Credit Analyst | AUD 80,000–1,00,000 | ₹52.6–65.7 lakhs |
| Investment Banking Analyst | AUD 1,30,000–1,70,000 | ₹85.5–1.12 crores |
| Portfolio / Fund Manager (mid-level) | AUD 1,00,000–1,40,000 | ₹65.7–92 lakhs |
| Treasury Analyst / Financial Manager | AUD 95,000–1,25,000 | ₹62.5–82.2 lakhs |
Top employers of Monash Banking and Finance graduates: ANZ Bank, NAB, Commonwealth Bank, Westpac, Macquarie Group, Deloitte, KPMG, PwC, BlackRock and various Melbourne-based boutique investment firms.
Monash University ranks #41 globally for graduate employability (QS Graduate Employability Rankings) with 95% of graduates employed within 4 months of completing their degree.
ROI: Is the Monash Master of Banking and Finance Worth It for Indian Students?
| Metric | Value |
|---|---|
| Total cost — Entry Level 3 (1 yr, tuition + living) | AUD 89,900–1,04,900 (₹59.1–68.9 lakhs) |
| Total cost — Entry Level 2 (1.5 yrs, tuition + living) | AUD 1,12,350–1,34,850 (₹73.9–88.6 lakhs) |
| Total cost — Entry Level 1 (2 yrs, tuition + living) | AUD 1,59,800–1,94,800 (₹1.05–1.28 crores) |
| Graduate Financial Analyst salary | AUD 75,000–90,000/year (~₹49.3–59.2 lakhs) |
| Investment Banking Analyst salary | AUD 1,30,000–1,70,000/year (~₹85.5–1.12 crores) |
| Temporary Graduate visa (subclass 485) | 2 years post-study work rights |
| Break-even period (at AUD 82,000 salary) | ~13–16 months (Entry Level 3) / ~16–20 months (Entry Level 2) |
Indian students with a finance or commerce undergraduate degree who qualify for Entry Level 2 or 3 get the strongest ROI. Entry Level 3 students can complete the degree in 1 year and break even within 13–16 months of starting work in Australia.
The Monash Master of Banking and Finance is one of the strongest finance master's programmes in Australia for Indian students — backed by a #24 global Finance ranking and triple-accredited Business School. The three entry levels make it highly flexible for both career changers and finance graduates. The elective streams in risk management, investments, data analytics and sustainability align directly with the roles most in demand at Australia's Big Four banks and global investment firms. Finance Manager (ANZSCO 132211) is on Australia's MLTSSL — making this a clear PR pathway for graduates who secure relevant roles.
FAQs
Ques. Can Indian students without a finance background apply for the Monash Master of Banking and Finance?
Ans. Yes. The Monash Master of Banking and Finance (B6004) at Entry Level 1 is open to graduates from any bachelor's degree — including engineering, arts, science or management — with a minimum 60% average. The first year (Part A) covers four foundation units: Accounting for Business, Financial Management Theory, Economics and Business Statistics. No prior finance or commerce knowledge is required. This makes it one of the most accessible finance master's programmes in Australia for Indian students looking to transition into banking and financial services.
Ques. What is the total fee for the Monash Master of Banking and Finance for Indian students in 2026 and which entry level offers the best value?
Ans. The 2026 annual tuition fee is AUD 59,900 (₹39.4 lakhs). Total tuition is AUD 1,19,800 (₹78.7 lakhs) for Entry Level 1 (2 years), AUD 89,850 (₹59 lakhs) for Entry Level 2 (1.5 years) and AUD 59,900 (₹39.4 lakhs) for Entry Level 3 (1 year). Adding living costs of AUD 30,000–45,000/year, the total investment ranges from approximately ₹59.1–68.9 lakhs (Entry Level 3) to ₹1.05–1.28 crores (Entry Level 1). Indian students with a B.Com (Finance) or BBA (Finance) degree should apply for Entry Level 2 or 3 — the shorter duration significantly reduces total cost and time to employment in Australia.
Ques. What is the PR pathway for Indian students after completing the Monash Master of Banking and Finance?
Ans. After completing the programme, graduates are eligible for Australia's Temporary Graduate visa (subclass 485) for 2 years of unrestricted work rights. Finance Manager (ANZSCO 132211) and Financial Investment Adviser (ANZSCO 222312) are on Australia's Medium and Long-term Strategic Skills List (MLTSSL). After gaining 1–2 years of relevant work experience in Australia, graduates can apply for Permanent Residency through the Skilled Independent visa (subclass 189) or State Nominated visa (subclass 190). Victoria's state nomination programme regularly includes finance and business occupations — and Melbourne's status as Australia's financial services capital makes it one of the strongest cities for banking and finance graduates seeking PR.
Tuition Fees
| Year | 1st Year Fees |
|---|---|
| Tuition Fees | $41930 (AUD 59900) |
Other Expenses
| Head | Avg Cost Per Year |
|---|---|
| Housing | $11088 (AUD 15840) |
| Food | $7000 (AUD 10000) |
Previous Year Tuition Fees
| Year | 1st Year Fees |
|---|---|
| 2024 | $39760 (AUD 56800) |
| 2023 | $35000 (AUD 50000) |
| 2021 | $21732 (AUD 31045) |
Important Dates
This course commences in February 2026 and July 2026. We recommend applying early for the best chance of admission.
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TOP Scholarships
| Scholarship name | Award amount | Eligibility |
|---|---|---|
| Dean Study Grant | $10,000 | All Admitted Students |
Key Resources for Your Study Abroad Journey
Course Guides
Masters in Finance in Australia: Fees 2024, Top Colleges, Placements & Salaries
MBA in Finance in Australia: Top Universities, Jobs & Salaries in 2025
College Student Profiles
Scholarship Grants & Financial Aids
| Name | Scholarship Per Student | Level of Study | Type | |
|---|---|---|---|---|
| Axol Science Scholarship | Scholarship per student$ 1,400/Yr$2,000 | Level Of StudyBachelor | TypeCompany-Sponsored | |
| Business Administration Scholarships | Scholarship per studentVariable Amount | Level Of StudyBachelor | TypeMerit-Based | |
| Dr. APJ Abdul Kalam International Postgraduate Scholarships 2020 | Scholarship per studentVariable Amount | Level Of StudyMaster | TypeCollege-Specific | |
| VueVille Future Technology Scholarship | Scholarship per student$ 700/Yr$1,000 | Level Of StudyBachelor | TypeMerit-Based | |
| Go Clean Scholarship | Scholarship per student$ 2,450/Yr$3,500 | Level Of StudyBachelor | TypeMerit-Based | |
| Bharat Petroleum Scholarship | Scholarship per studentVariable Amount | Level Of StudyMaster | TypeMerit-Based |
Similar Programs
| Program | Important Date | Total Fees | Median Exams Score | Action |
|---|---|---|---|---|
Semester 2 Application Deadline For 2026 Intake (15th May 2026) Semester 2 Acceptance Deadline For 2026 Intake (30th Jun 2026) | USD 33,625 /Yr AUD 48,035 /Yr |
| ||
 M.Acc, Monash University1 year | Course Start Date (1st Jul 2026) | USD 41,930 /Yr AUD 59,900 /Yr |
| |
| USD 43,400 /Yr AUD 62,000 /Yr |
| |||
-- | USD 41,160 /Yr AUD 58,800 /Yr |
|
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