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Master of Finance in Australia – Universities, Fees & Jobs

Updated on 09 October, 2023

Shivangi Mishra

Shivangi Mishra

Sr. Content Editor

If you 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.

 

Why study Finance in Australia?

Australia attracts thousands of international students every year. Here are some reasons why you should do your master’s in finance in Australia:

  • Banking and Finance is an established industry in Australia that includes the following fields: funds management, taxation, securities market, and budget planning.
  • The courses are designed in consultation with industry professionals in 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, The University of Sydney, the University of Melbourne, 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, which is much higher than a person with a similar profile in India.

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Top ranking universities for Masters in Finance in Australia

Here are some best universities in Australia for masters in finance:

UniversityQS World University Ranking 2023EligibilityFee in AUD (approx)
The University of Sydney4165% in bachelor’s 
University of New South Wales (UNSW) Sydney4565% in bachelor’s$50,200/year
The University of Queensland 504.50 GPA on a 7-point scale in bachelor’s$46,384/year
The Australian National University305.0 GPA on a 7-point scale in bachelor’s$45,360/year
Adelaide University109$49,000/year
Sydney’s University of Technology137$68040 (for 72 credits)
Wollongong University 18550% in bachelor’s$62,784 (course fee)
The University of Technology of Queensland 2134.0 GPA on a 7-point scale in bachelor’s$29,600/year 
University of Curtin193$30,000/year
University of South Australia363$37,700/per year

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

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
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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
  • 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 BachelorsEnglish Language Proficiency (ELP)
University of Sydney65%

IELTS: 7.0

TOEFL: 96

University of New South Wales (UNSW)

65%

IELTS: 7.0

 

TOEFL: 94

University of Queensland4.50 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 Wolongong50%

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

Study in Australia – Important Read
Australia Awards ScholarshipUniversity of Melbourne Acceptance Rate
Asean Partner ScholarshipAustralian National University Acceptance Rate

Cost of Studying Master’s in Finance in Australia

When you plan to pursue a 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 costs, etc. The total expenses depend on the course and location. 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. According to various surveys, the general living expenses in Australia for international students amount to $21,041 per year. Some of the best cities for students are Melbourne, Sydney, Canberra, Adelaide, Brisbane, Perth and Gold Coast.  Melbourne and Sydney are the most expensive cities in Australia. 

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

ScholarshipAmount 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 Fellowship14460.23 to 20,762 AUD 
University of QueenslandIndia 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 ScholarshipTuition fee reduction up to 50%
University of WollongongFaculty of Business Country Bursary  & Post-graduate Academic Excellence Scholarship; 

Tuition fee reduction up to 30%

Queensland University of Technology 

Scholarship of Triple CrownTuition fee reduction of 25% for two semesters
Curtin UniversityYoung 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 of 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 
More Resources to refer to
Masters in Civil Engineering in AustraliaMasters in Business Analytics in Australia
Masters in Physiotherapy in AustraliaMasters in Artificial Intelligence in Australia
Masters in Marketing in AustraliaMasters in Architecture in Australia
Masters in Management in AustraliaMasters in International Business in Australia

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

RoleAnnual average salary
Portfolio ManagerCreating 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, and liability account entries, and capital

60252 AUD

Trader

stocks, commodities, and debts89499 AUD
Investment BankerClient assistance for mergers and acquisitions 

106791 AUD

Financial Examiner

Ensure financial entities such as banks are compliant with laws and regulations. 
Insurance SpecialistAnalyze and simplify complex insurance laws and policies

44295 AUD

Financial Advisor

Advise clients on investments, insurance, mortgage, etc. 63776 AUD
ActuaryAssessing the probability of 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

Is Australia good for a master’s in Finance?

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.

What are the job prospects for a master’s in finance in Australia?

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.

Is finance a good career in Australia?

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.

What is it like working in finance in Australia?

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.

Shivangi Mishra

Sr. Content Editor

She is an experienced writer and journalist who has extensively covered the education sector in India and Abroad. Now helping Indian aspirants realise their foreign education dream by providing them with relevant content and information through upGrad Abroad. Amateur traveller, loves to read Architectural Digest!

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