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Masters in Finance in Australia: A comprehensive guide for international students

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Know all about studying masters in finance in Australia

When you talk about finance, the hot courses in the industry are Masters in Commerce (MCOM) and Masters in Finance (MFIN ). Just as we look for these courses in India, students combine them with CA and then try to make a career out of it. However, passing CA in India is rather tough and only those who are absolutely good with statistics and theory end up clearing CA. However, if you are going for masters in finance and have that financial push to go further then you should surely consider doing it in Australia.

Why study masters in finance in Australia?

The masters in finance in Australia is popular amongst international students due to the immense quality of education and job opportunities. Secondly consider post-study visa aspects in Australia compared to the unemployment rate as low as 3% currently, which means that your chance of landing a job is as good as anything.
Also, some of the best universities for masters in finance are in cities like Sydney, Canberra rank in the world’s top 50 colleges as per QS World University Rankings. The average annual income of a finance and accounting graduate in Australia is around AUD 67, 000 (39 Lakhs INR) which means that the starting of a career itself is amazing in this field.

Study Finance in Australia

1. Bachelor’s degree in finance, commerce, or business: The primary criteria for getting admission to MS in finance is having an undergraduate degree in finance or business studies. Though some universities like the University of Sydney accept students from any discipline, primarily an undergraduate degree in the same field is required. However, the bachelor’s grades differ from university to university.

University Name	Grades Required
The Australian National University	5 to 5.5 GPA on a scale of 7 points*
The University of South Wales	65 to 70%*
University of Wollongong	50 to 55%*
The University of Queensland	4.5 to 5 GPA on a scale of 7 points*
Queensland University of Technology	4 to 4.5 GPA on a scale of 7 Points *

2. English language proficiency scores: IELTS is majorly accepted by all universities as a primary source. We can look at some university requirements in this case.

University Name	Minimum IELTS score required
University of Adelaide	6.5*
University of Sydney	7.0*
University of Wollongong	6.5*
University of South Australia	6.5*
Queensland University of Technology	6.5*

3. GRE scores: Though it is not a mandatory requirement like in some technical courses, universities do accept GRE scores. In some cases, some universities accept GRE scores of those students who do not have a Bachelor’s in Finance degree.

4. Professional references: Whether it is the job or international university admissions, professional references go a long way. It gives your application the credibility everyone is looking for and hence 2 professional reference is what you can produce with your application.

5. Work experience: Well not all may have it, especially the students, but if you have worked before seeking admission then it’s always an added advantage with your application, and relevant experience in the same field will give you an edge over other applicants.

Cost of studying masters in finance in Australia

The cost of studying masters in finance in Australia depends on university to university, they can cost you anywhere in the range of 35,000 AUD to 70,000 AUD. We strongly recommend you visit the university website for more details. Below is the list of some Universities with cost to study:

University Name	Cost of studying
The University of Adelaide	AUD 49,000 Approx.
The University of Sydney	AUD 54,000 Approx.
The University of New South Wales	AUD 49,000 Approx.
University of Wollongong	AUD 48,000 Approx.
The University of Queensland	AUD 46,000 Approx.
The Australian National University	AUD 46,000 Approx.
Curtin University	AUD 31000 Approx.

Popular courses covered in masters in finance

A Master's in Finance program covers a wide range of courses, including some of the most popular ones:

Financial Modelling
Financial Analyst
Investment Banking
Risk Management
International Finance and World Bank
Financial Statement Analysis
Corporate Finance
Finance Management
Asset Management
Fixed Income Analysis
Inventory Management
Financial and Banking system

Scope after studying masters in finance

You may be wondering about the job opportunities available to you after completing your master's degree. In this field, you will either be creating wealth or managing it, and those who do so are typically paid well. After finishing this course, you can get jobs in Banking and Financial Institutions, Brokerage firms, Insurance companies, and Investment companies, but the “Sky is the Limit” in this field.
The average salary that one can expect is 67,000 AUD, but depending upon your experience and grades you may qualify for more, Here are some high-paying jobs in this field.

Job	Average annual salary
Portfolio Manager	AUD 1,30,000
Financial Reporting Manager	AUD 1,20,000
Finance Executive	AUD 1,20,000
Investment Banker	AUD 99,000
Finance Manager	AUD 1,20,000
Financial Analyst	AUD 1,10,000
Finance Coordinator	AUD 72,500

Top Universities to Study in Australia

Course	University	Duration
Master of Management	The University of Adelaide	2 Years
Master of Banking and Finance	Monash University	1 year
Master of Finance	RMIT University	1 Year
Master of Applied Finance	The University of Adelaide	1 Year
Master of Financial Analysts	The University of New South Wales	1 Year
Master of Business (Finance)	Victoria University	2 Years
Master of Accounting and Financial Management	La Trobe University	2 Years
Master of Commerce - Finance	The University of Sydney	1.5 Years

As we mentioned, there are many top universities in Australia that rank in the top 50 universities of QS rankings as the quality of education is one of the best in the world, beautiful locations, and quality of living. Here are some of the top universities in Australia to study finance.

Scholarships to study in Australia

Every country offers scholarship opportunities for international students. In Australia, these scholarships are offered by either the Australian govt or the universities in association with some grants organisations, all these scholarships are given either on merit-based or needs-based systems. Here are the scholarships which students can apply for when planning to study finance in Australia.

Scholarships	Criteria	Amount (AUD)
International Students Award	Academic Merit should be enrolled in The University of New South Wales	15% waiver on tuition fees
Coursework Scholarship for International Postgraduate students by UTS Vice Chancellor	Enrolled in any postgraduate degree in the University of Technology, Sydney	Full tuition fees waiver
International High Achievers Scholarship	Academic Merit, to be enrolled in The University of Queensland	10,000
Sydney International Student award	Based on a personal statement, to be enrolled in The University of Sydney	20% waiver on tuition fees
Australia’s global university Award	Merit-based enrolment in any of the post-graduate courses at The University of New South Wales	10,000
International Scientia Award	Enrolled in any of the post-graduate courses at the University of New South Wales, Merit-based, on involvement in an extracurricular activity like social work	20,000 towards tuition fees
2023 Global Curtin Scholarship	Merit-based, to be enrolled in Curtin University	25% reduction in first-year tuition fees

Frequently asked questions (FAQs)

Q1. Is a Master of Finance good in Australia?
Ans. As told earlier, the universities in Australia are one of the best in the world. Some of the universities are ranked in the Top 50 colleges as per QS World University Rankings. With a quality curriculum and well-trained industry experts, the courses are surely going to be great to study.

Q2. What are the top Universities for masters in finance?
Ans. The University of New South Wales, The University of Sydney, The University of Queensland, Monash University, The Australian National University, and The University of Adelaide.

Q3. What are the eligibility criteria to seek admission?
Ans. A Bachelor’s degree, Statement of Purpose (SOP), English language test score IELTS, GRE scores if any, and work experience letter if any.

Q4. What topics are covered in the course?
Ans. Topics covered depend on university to university but some of them are, Finance Management, Risk Assessment, Portfolio Management, Global Finance, Stock Markets, Investment analysis, Investment banking, Financial Modelling, Risk Management, Brokerage, Insurance, and corporate asset management.

Q5. What are the Tuition fees?
Ans. On average, you can do masters in finance from the top university in Australia ranging anywhere between 34,000 to 70,000 AUD.

Q6. Which companies hire graduates in Finance?
Ans. Australia is recognised as a global financial centre, and as a result, many prominent financial management organisations are headquartered in the country. These include ANZ, Barclays, Morgan Stanley, Westpac Group, Macquarie Group, Commonwealth Bank of Australia, National Australian Bank, and more.

If you are choosing Australia as your destination to study masters in finance then you are on the right path and the degree can be completed in 1.5 years in most of the universities with globally recognised degrees. After completing your studies you can go to any other country to work or apply for a Skilled graduate temporary work visa which is after all not that hard to apply for.

Hope this blog helps you and if you require help getting into the universities in Australia, do not worry. You can get in touch with our international education experts at IDP. They will help you with the end-to-end admission procedure.