Master of Finance in Australia – Universities, Fees & Jobs

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.

Talk to Study Abroad Expert for Australia : Get free Counselling

Top ranking universities for Masters in Finance in Australia

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

University	QS World University Ranking 2023	Eligibility	Fee in AUD (approx)
The University of Sydney	41	65% in bachelor’s	–
University of New South Wales (UNSW) Sydney	45	65% in bachelor’s	$50,200/year
The University of Queensland	50	4.50 GPA on a 7-point scale in bachelor’s	$46,384/year
The Australian National University	30	5.0 GPA on a 7-point scale in bachelor’s	$45,360/year
Adelaide University	109	–	$49,000/year
Sydney’s University of Technology	137	–	$68040 (for 72 credits)
Wollongong University	185	50% in bachelor’s	$62,784 (course fee)
The University of Technology of Queensland	213	4.0 GPA on a 7-point scale in bachelor’s	$29,600/year
University of Curtin	193	–	$30,000/year
University of South Australia	363	–	$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

Read More
BCA in Australia, University of Canberra	BBA in Australia, University of Canberra	BCA in Australia, James Cook University
BBA in Australia, James Cook University	BBA in Australia, Torrens University	Bachelor Degree in Australia
Study in Australia	MBA in Australia	Scholarship for Indian Students in Australia
Exams for MS in Australia	MBA fees in Australia	Jobs After MBA in Australia

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 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

Study in Australia – Important Read
Australia Awards Scholarship	University of Melbourne Acceptance Rate
Asean Partner Scholarship	Australian 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	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 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 Australia	Masters in Business Analytics in Australia
Masters in Physiotherapy in Australia	Masters in Artificial Intelligence in Australia
Masters in Marketing in Australia	Masters in Architecture in Australia
Masters in Management in Australia	Masters 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	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, and liability account entries, and capital	60252 AUD
Trader	stocks, commodities, and debts	89499 AUD
Investment Banker	Client assistance 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 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.