If you are have completed your graduation with a finance major, then a Master of Finance in Australia can help you fetch a great career in many countries that offer high salary packages for students either through campus or off-campus placements.
Table of Contents
Why study Finance in Australia?
Australia, an abroad abode for master’s, attracts thousands of international students every year. Being the world’s second-richest nation, Australia’s per capita income is relatively high: USD 55,707 (1,15,64,942.79 INR), as in 2017. Besides being an excellent place to live, several institutions in Australia offer courses in finance and work for international students.
Here are some reasons why you should do your master’s in finance in Australia:
- Banking and Finance is an established field of a career in Australia which includes the following fields: funds management, taxation, securities market, budget planning.
- The courses are designed in consultation with industry professionals of the Australian financial sector and teach the latest curriculum.
- Some best universities in Australia for master’s in finance degrees include Victoria University, The Australian National University (World Ranking: 48), The University of Sydney (World Ranking: 61), University of Melbourne (World Ranking: 32), La Trobe University, etc.
- The banking sector in Australia is rapidly growing, and hence the scope for employment to finance graduates is increasing.
- You shall get to learn the working of the international financial market if you study MSc finance in Australia.
- The average salary per annum for a finance sector employee with medium experience in Australia is AU$ 93,000 (49,48,936.41 INR), which is much higher than a person with a similar profile in India.
Top ranking universities for Masters in Finance in Australia
Here are some best universities in Australia for master’s in finance:
|
University |
QS News Ranking 2022 |
| Sydney University (USYD) |
38 |
|
UNSW Sydney (University of New South Wales) |
43 |
| Queensland University |
NA |
|
National University of Australia (ANU) |
NA |
| Adelaide University |
108 |
|
Sydney’s University of Technology |
133 |
| Wollongong University |
193 |
|
The University of Technology of Queensland |
213 |
| University of Curtin |
194 |
|
South Australian University |
326 |
Types of Masters in Finance in Australia
Three common masters’ courses offered for finance studies in Australia are Master of Business, Master of Commerce, and Master of Finance
Here are their Course Structures:
- M.Com/M.Fin: Both Master of Commerce with Finance specialization and Master of Finance deal with theoretical and practical aspects of Finance. The difference between Master of Commerce and Master of Finance is that the former includes courses from commerce discipline too while the latter is completely dedicated to finance discipline only.
- Master of Business: This program deals with financial management. Some of the courses included in the finance specialization of Master of Business are security analysis, corporate finance, trading & risk management, and portfolio management.
Other programs on finance offered for Masters’ in Australia:
- Masters in Finance Planning
- Master in Banking and Finance
- Master in Finance and Marketing
- Master in Finance and International Banking
- Master in Actuarial Science
- Master in Applied Finance
Admissions for Master’s in Finance in Australia
Depending on the university and the course interest, the requirements may vary. However, some common criteria that the students must meet are given below.
Eligibility Criteria for a master’s in finance in Australia:
- Bachelor’s degree in finance, accounts, or any other degree related to the finance field
- Some universities want to test students’ English proficiency. So, either IELTS or TOEFL scores will be required, depending on the university.
- The Scores required in the entrance exams to study in Australia: GRE
- And of course, Statement of Purpose (SOP) and Letter Of Recommendation (LOR).
Before preparing your application, you should visit the college or university website to know the requirements properly.
Master’s in Finance in Australia: Eligibility
|
University |
Minimum % Required in Bachelors | English Language Proficiency (ELP) |
| University of Sydney | 65% |
IELTS: 7.0 TOEFL: 96 |
|
University of New South Wales (UNSW) |
65% | IELTS: 7.0
TOEFL: 94 |
| University of Queensland | 4.50 GPA on a 7 point scale |
– |
|
Australian National University |
5.0 GPA on a 7 point scale | – |
| University of Adelaide | – |
IELTS:6.5 TOEFL: 79 |
|
University of Technology Sydney |
– | IELTS: 6.5
TOEFL: 79 |
| University of Wolongong | 50% |
IELTS:6.5 TOEFL: 86 |
|
Queensland University of Technology |
4.0 GPA on a 7 point scale | IELTS:6.5
TOEFL: 79 |
| Curtin University | – |
IELTS: 6.5 TOEFL: 79 |
- college/university and explain why and how this course will help you develop a better future.
Cost of Studying Master’s in Finance in Australia
When you plan to pursue Master’s in Finance in Australia, the main considerations include living arrangement costs, tuition fees, travel expenses, and other additional expenses such as pre-arrival cost, etc. The total expenses depend on the course and location. The approximate estimated tuition fees ranges between 19,038 USD to 67,661 USD [14,22,000 INR-50,54,000 INR]. The staying expenses vary based on the place or city you plan to reside in and if you choose to stay on-campus or off-campus.
Start Your Study Abroad Journey Now.
Start Your Study Abroad
Journey Now.
✓ Save upto 30Lakh ✓ No IELTS required
✓End to end Visa/Application support
Pre-arrival costs
Pre-arrival costs include various expenses that a student has to pay before arriving in the particular country or college/university. These expenses may include the cost of the application form of the institute, application fees of the exams like GMAT or GRE, application fees of the English language tests like TOEFL or IELTS or PTE, Australian student visa registration fees, etc.
Various Expenses
Cost
Application Fees
94.67- 227.22 AUD (INR 4,978 – INR 11,947)
Visa Application Fees
658.93 AUD (INR 34,648)
IELTS Registration Fee
284.02 AUD (INR 14,934)
IELTS Registration Fee
265.09 AUD (INR 13,938)
GMAT application fees
367.33 AUD (INR 19,315)
GRE application fees
301.06 AUD (INR 15,830)
Living Cost in Australia
If you are planning to pursue a Masters in finance in Australia, you have to do your financial planning accordingly. The costs mentioned below are just average costs. Your monthly expense depends on your choice of lifestyle, accommodation, etc.
Expenses
Cost per month
Rent (for 1 bedroom flat)
6981.36 AUD (9,07,834.14 INR)
Meal
6482.79 AUD (3,46,574.01 INR)
Entertainment
1994.28 AUD (1,06,615.46 INR)
Other Utilities
997.14 AUD (53,307.73 INR)
Travel Cost (via public transport)
1994.28 AUD (1,06,615.46 INR)
Mobile Phone Plan
747.85 AUD (39,980.53 INR)
Total Monthly Cost
19197.69 AUD (10,26,320.53 INR )
Subjects Taught
Topics taught in a PG course in Finance may vary from university to university, but some major subjects remain common. Here is a brief list of subjects generally taught in Master’s of Finance in Australia:
- Finance Management
- Investment in Banking
- Finance Modeling
- Portfolio Management and Investment Analysis
- Risk Management and Derivatives
- International- Finance
- Quantitative ways in Finance 1 and 2
- Analysis of Financial Statement
- Analysis of Fixed Income
- Finance Intermediation in Upcoming Markets
- Advanced- Financial Management
- Financial Strategy and Corporate Valuation
- Corporate Governance
Scholarship Option Available
A lot of universities and colleges in Australia provide international students scholarships. These financial aids can help you to reduce your overall expense.
University
Scholarship
Amount Offered per year
University of Sydney
Business Dean’s Scholarship for Excellence in Academics; Business School’s Westbrook and Jessie Anstice International Travel Scholarship
International Scholarship
4819.61 to 19281.24 AUD
UNSW (University of New South Wales)
AMP Capital Infrastructure Scholarship & Joseph Barling Fellowship
14460.23 to 20,762 AUD
University of Queensland
India Global Leaders Scholarship & Thomas A Plein Endowed Scholarship
4178.86 to 19281.24 AUD
ANU (Australian National University)
ANU College of Business & Economics Honors Scholarship & ANU College of Business & Economics Community Engagement Award
963.92 to 14460.23 AUD
University of Adelaide
Global Academic Excellence Scholarship & Global Citizens Scholarship
Tuition fee reduction up to 50%
University of Wollongong
Faculty of Business Country Bursary & Post-graduate Academic Excellence Scholarship;
Tuition fee reduction up to 30%
Queensland University of Technology
Scholarship of Triple Crown
Tuition fee reduction of 25% for two semesters
Curtin University
Young Blogger Scholarship Award & Savvy Fintech Scholarship
1927.85- 4819.61 AUD
University of South Australia
Mobility Scholarships & UniSA Business School Student
2409.81- 4819.61 AUD
Visa Process
Before you apply for your visa, make sure to:
- Enroll in your desired program
- hold Overseas Student Health Cover (OSHC)
- 6 years old or more
Documents Necessary
- Your electronic confirmation of enrolment acknowledgment
- Valid passport
- visa application charge
- GTE statement
- Education and job experience certificates and documents
- Proof your English-speaking ability (Ex: IELTS scores)
- Proof of financial stability (tuition fees, living costs, covering expenses for dependents, return fare)
- Your health cover policy information (Overseas Student Health Cover)
- Statement about the purpose
- Passport size photos for identification
Job opportunities in Australia after MS in finance
Postgraduates in finance can earn exceptional salaries even though the job market for finance graduates is quite challenging. Master’s degree holders can get CFA jobs in Australia or can choose a career from the following sectors.
- Private Banks & Credit Unions
- Corporate Management
- Insurance Firms
- Brokerage companies
- Personal Finance Planning for Aspirants on an Individual Level
- Personal Finance Planning for Private entities
- International Financial Management
- Investment Services
- Financial Planning related services
Job wise expected average salary
Jobs
Role
Annual average salary
Portfolio Manager
Creating and supervising investment allocations for clients
102327 AUD
Financial Analyst
Gathering and analyzing financial data, preparing financial models for effective decision making, studying market trends, and making forecasts.
76238 AUD
Finance Manager
Looking after accounts, reviewing financial reports of a firm, and creating forecasts
100732 AUD
Accountant
Compilation and analysis of account data for preparing asset, liability account entries, and capital
60252 AUD
Trader
stocks, commodities and debts
89499 AUD
Investment Banker
Client assistances for mergers and acquisitions
106791 AUD
Financial Examiner
Ensure financial entities such as banks are compliant with laws and regulations.
Insurance specialist
Analyze and simplify complex insurance laws and policies
44295 AUD
Financial advisor
Advise clients on investments, insurance, mortgage, etc.
63776 AUD
Actuary
Assessing the probability of a every situation and the financial obstacles one might encounter
104785 AUD
Master’s in finance graduates can have great career opportunities in Australia. The finance sector is one of the most important industries for any economy, and it has been growing consistently over the years.
With increasing credit growth and decreasing interest rates, retail money has started to flow heavily in hedge funds, mutual funds, private equity firms, venture capital firms, etc. This inflow of retail money has increased the demand for many financial analysts, fund managers, portfolio managers, traders, investors, research analysts, etc.
FAQs
Q1. Is Australia good for a master’s in Finance?
A. Australia is growing and emerging as a famous study centre due to its globally recognized institutions, education diversity, and lower living expenses. Studying finance in Australia provides them with a deep-embedded insight into corporate financial markets, finance ethics, regulations, theories, and financial analytics, amongst others.
Q2. What are the job prospects for a master’s in finance in Australia?
A. After securing a master’s in finance in Australia, students are eligible for positions like Financial Advisor, Budget Analyst, Banker, Personal Financial Advisor, Loan Officer, Financial Manager, Financial Analyst, etc.
Q3. Is finance a good career in Australia?
A. With broad scope for a career in the finance industry and handsome pay, finance is a promising career in Australia. The demand for professionals is growing in financial organizations, but there is a limited talent pool.
Q4. What is it like working in finance in Australia?
A. The finance sector in Australia is huge, engaging, and quite challenging. If you have skills with numbers and figuring out what’s the story revolving around them, you’re probably an ideal candidate to pursue a Master’s in Finance in Australia. Working in finance requires one to be sharp, analytical, and logical.
Start Your Study Abroad
Journey Now.
✓ Save upto 30Lakh ✓ No IELTS required
✓End to end Visa/Application support
Journey Now.
✓End to end Visa/Application support
Pre-arrival costs
Pre-arrival costs include various expenses that a student has to pay before arriving in the particular country or college/university. These expenses may include the cost of the application form of the institute, application fees of the exams like GMAT or GRE, application fees of the English language tests like TOEFL or IELTS or PTE, Australian student visa registration fees, etc.
|
Various Expenses |
Cost |
| Application Fees |
94.67- 227.22 AUD (INR 4,978 – INR 11,947) |
|
Visa Application Fees |
658.93 AUD (INR 34,648) |
| IELTS Registration Fee |
284.02 AUD (INR 14,934) |
|
IELTS Registration Fee |
265.09 AUD (INR 13,938) |
| GMAT application fees |
367.33 AUD (INR 19,315) |
|
GRE application fees |
301.06 AUD (INR 15,830) |
Living Cost in Australia
If you are planning to pursue a Masters in finance in Australia, you have to do your financial planning accordingly. The costs mentioned below are just average costs. Your monthly expense depends on your choice of lifestyle, accommodation, etc.
|
Expenses |
Cost per month |
|
Rent (for 1 bedroom flat) |
6981.36 AUD (9,07,834.14 INR) |
| Meal |
6482.79 AUD (3,46,574.01 INR) |
|
Entertainment |
1994.28 AUD (1,06,615.46 INR) |
| Other Utilities |
997.14 AUD (53,307.73 INR) |
|
Travel Cost (via public transport) |
1994.28 AUD (1,06,615.46 INR) |
| Mobile Phone Plan |
747.85 AUD (39,980.53 INR) |
|
Total Monthly Cost |
19197.69 AUD (10,26,320.53 INR ) |
Subjects Taught
Topics taught in a PG course in Finance may vary from university to university, but some major subjects remain common. Here is a brief list of subjects generally taught in Master’s of Finance in Australia:
- Finance Management
- Investment in Banking
- Finance Modeling
- Portfolio Management and Investment Analysis
- Risk Management and Derivatives
- International- Finance
- Quantitative ways in Finance 1 and 2
- Analysis of Financial Statement
- Analysis of Fixed Income
- Finance Intermediation in Upcoming Markets
- Advanced- Financial Management
- Financial Strategy and Corporate Valuation
- Corporate Governance
Scholarship Option Available
A lot of universities and colleges in Australia provide international students scholarships. These financial aids can help you to reduce your overall expense.
|
University |
Scholarship | Amount Offered per year |
| University of Sydney | Business Dean’s Scholarship for Excellence in Academics; Business School’s Westbrook and Jessie Anstice International Travel Scholarship
International Scholarship |
4819.61 to 19281.24 AUD |
|
UNSW (University of New South Wales) |
AMP Capital Infrastructure Scholarship & Joseph Barling Fellowship | 14460.23 to 20,762 AUD |
| University of Queensland | India Global Leaders Scholarship & Thomas A Plein Endowed Scholarship |
4178.86 to 19281.24 AUD |
|
ANU (Australian National University) |
ANU College of Business & Economics Honors Scholarship & ANU College of Business & Economics Community Engagement Award |
963.92 to 14460.23 AUD |
|
University of Adelaide |
Global Academic Excellence Scholarship & Global Citizens Scholarship | Tuition fee reduction up to 50% |
| University of Wollongong | Faculty of Business Country Bursary & Post-graduate Academic Excellence Scholarship; |
Tuition fee reduction up to 30% |
|
Queensland University of Technology |
Scholarship of Triple Crown | Tuition fee reduction of 25% for two semesters |
| Curtin University | Young Blogger Scholarship Award & Savvy Fintech Scholarship |
1927.85- 4819.61 AUD |
|
University of South Australia |
Mobility Scholarships & UniSA Business School Student |
2409.81- 4819.61 AUD |
Visa Process
Before you apply for your visa, make sure to:
- Enroll in your desired program
- hold Overseas Student Health Cover (OSHC)
- 6 years old or more
Documents Necessary
- Your electronic confirmation of enrolment acknowledgment
- Valid passport
- visa application charge
- GTE statement
- Education and job experience certificates and documents
- Proof your English-speaking ability (Ex: IELTS scores)
- Proof of financial stability (tuition fees, living costs, covering expenses for dependents, return fare)
- Your health cover policy information (Overseas Student Health Cover)
- Statement about the purpose
- Passport size photos for identification
Job opportunities in Australia after MS in finance
Postgraduates in finance can earn exceptional salaries even though the job market for finance graduates is quite challenging. Master’s degree holders can get CFA jobs in Australia or can choose a career from the following sectors.
- Private Banks & Credit Unions
- Corporate Management
- Insurance Firms
- Brokerage companies
- Personal Finance Planning for Aspirants on an Individual Level
- Personal Finance Planning for Private entities
- International Financial Management
- Investment Services
- Financial Planning related services
Job wise expected average salary
|
Jobs |
Role | Annual average salary |
| Portfolio Manager | Creating and supervising investment allocations for clients |
102327 AUD |
|
Financial Analyst |
Gathering and analyzing financial data, preparing financial models for effective decision making, studying market trends, and making forecasts. |
76238 AUD |
|
Finance Manager |
Looking after accounts, reviewing financial reports of a firm, and creating forecasts |
100732 AUD |
|
Accountant |
Compilation and analysis of account data for preparing asset, liability account entries, and capital |
60252 AUD |
|
Trader |
stocks, commodities and debts | 89499 AUD |
| Investment Banker | Client assistances for mergers and acquisitions |
106791 AUD |
|
Financial Examiner |
Ensure financial entities such as banks are compliant with laws and regulations. | |
| Insurance specialist | Analyze and simplify complex insurance laws and policies |
44295 AUD |
|
Financial advisor |
Advise clients on investments, insurance, mortgage, etc. | 63776 AUD |
| Actuary | Assessing the probability of a every situation and the financial obstacles one might encounter |
104785 AUD |
Master’s in finance graduates can have great career opportunities in Australia. The finance sector is one of the most important industries for any economy, and it has been growing consistently over the years.
With increasing credit growth and decreasing interest rates, retail money has started to flow heavily in hedge funds, mutual funds, private equity firms, venture capital firms, etc. This inflow of retail money has increased the demand for many financial analysts, fund managers, portfolio managers, traders, investors, research analysts, etc.
FAQs
Q1. Is Australia good for a master’s in Finance?
A. Australia is growing and emerging as a famous study centre due to its globally recognized institutions, education diversity, and lower living expenses. Studying finance in Australia provides them with a deep-embedded insight into corporate financial markets, finance ethics, regulations, theories, and financial analytics, amongst others.
Q2. What are the job prospects for a master’s in finance in Australia?
A. After securing a master’s in finance in Australia, students are eligible for positions like Financial Advisor, Budget Analyst, Banker, Personal Financial Advisor, Loan Officer, Financial Manager, Financial Analyst, etc.
Q3. Is finance a good career in Australia?
A. With broad scope for a career in the finance industry and handsome pay, finance is a promising career in Australia. The demand for professionals is growing in financial organizations, but there is a limited talent pool.
Q4. What is it like working in finance in Australia?
A. The finance sector in Australia is huge, engaging, and quite challenging. If you have skills with numbers and figuring out what’s the story revolving around them, you’re probably an ideal candidate to pursue a Master’s in Finance in Australia. Working in finance requires one to be sharp, analytical, and logical.
