MBA in Finance in Australia: Top Universities, Admission Process & Eligibility Criteria

To pursue post-graduation in finance is great, but to pursue it from the top universities for masters in finance in Australia is altogether a different experience. It not enhances your financial acumen but prepares you for global leadership. Organizations in Australia actively seek graduates who have done their masters in finance in Australia to contribute valuable insights to their financial decision-making and effectively manage business expenditures.

MBA in Finance in Australia is a 1.5 to 2 year course that gives an understanding of budgeting, financial analysis, risk analysis, and strategic decision making. After completing the program, students can get good jobs in financial institutions with top advisory firms and investment banks.

Course Highlight: Masters in Finance in Australia

Why study MBA in Finance in Australia?

Based on the QS World Ranking of 2022, there are several business schools in Australia that fall on the list of the top 100 B-schools in the world, so it’s a good option for candidates interested in pursuing the program of Masters in Finance in Australia. This is why Australia is ideal for financial education since its financial sector is growing and it is home to reputable university institutions. The decision to pursue an MBA in Finance in Australia may be beneficial in a number of ways:

• The job index for the Australian Financial and Insurance Services sector reveals that the sector is likely to have a significant boost in employment, estimated to grow by 6 percent. About 3%, or 33,200 jobs, from the year 2021 to November 2026.
• An MBA in Finance in Australia might focus on applying the theoretical concepts, which are supported by case-studies, and internships.
• Australia is one of the best countries in the world for courses like Masters in Finance in Australia with some of the best universities being University of Queensland, University of New South Wales, and Monash University, among others.
• Individuals who complete MBA in Finance in Australia can expect an initial employment package of approximately 70,000 AUD (40 lakh INR) per year. They can earn even more as they gain experience, and some make even over 160,000 AUD, which is approximately 90 lakh INR per year.
• Many foreign students attend  Australian universities; hence, the multicultural environment increases your global exposure and contacts.

Top Universities for Masters in Finance in Australia

Selecting the right university to study Masters in Finance for international students may not be an easy feat. When selecting the best universities for an MBA in finance in Australia, factors like accreditation, the expertise of the faculty, and the connection that they have with the industry should be taken into consideration. The table below gives you a clear picture of the top universities for Masters in Finance in Australia based on the QS World ranking.

Eligibility for MBA in Finance in Australia

Admission requirements for MBA in Finance in Australia usually require the student to meet certain academic and professional standards. Usually, to enter a university and become a candidate for a degree, the applicant must have an undergraduate degree in the relevant field and the university may request a bar of work experience, preferably in finance or a related field.

• A bachelor’s degree from a recognized university, your mark sheets and transcripts of previous education
• Minimum GPA requirement of the specific university
• English language proficiency IELTS– at least 6.5 / TOEFL- more than 60
• Relevant work experience(if any, as per uni. requirements)
• Letter of Recommendation (LOR)
• Statement of Purpose (SOP)
• Current Resume
• GMAT/ GRE score as set by the university

Meeting these eligibility standards makes sure that candidates are ready for the tough academic work and gives them the basics they need to do well in the fast-paced field of finance after finishing the program.

Cost of Studying MBA in Finance in Australia

The expenses of pursuing an MBA in finance in Australia differ depending on the university and the course selection made by the student. Overall, comprehensive costs for education are between AUD 30 000 and AUD 60 000 per year. The cost is another main factor students need to consider when preparing to study an MBA in Finance in Australia. The table below highlights the tuition fees for MBA in Finance in Australia.

Cost of Living in Australia for International Students

For international students, the cost of living in Australia changes according to location and lifestyle. Discovering these costs is essential to ensuring you are able to study happily in Australia, and not strain yourself financially. Below is an approximate sample table for the average monthly expenses of an international student in Australia.

Although costs differ, they too should plan themselves for a comfortable living expenditure by inclusive of both the tuition fees and other expenses. Most universities offer approximations for students to use in managing their expenses during their time in Australia.

Scholarships To Study MBA In Finance In Australia

Scholarships provide useful assistance to global students in Australia through reduction of the financial pressure related to the tuition fees and other living expenses. These forms of financial assistance enable talented personnel to achieve their educational dreams while enriching academic life in Australia. Take a look at the available scholarship options for MBA in Finance program:

Steps to Apply for an MBA in Finance in Australia

Following are the various steps to be taken to apply for a Masters in Finance in Australia. If you are an aspiring student who wants to study in Australia, then you can refer to the below given step by step to-do checklist in order to apply to the universities.

Research and Shortlist: The first step in the journey is to bring all the universities into the frame and shortlist the university that you feel is the best for doing an MBA in Finance. Filter the universities as per location, fees structure, curriculum, faculty, etc. and shortlist the universities to which you want to apply.

Eligibility: The most common requirements are grades and English proficiency in some cases, as well as other things like working experience, SAT scores, etc.

Application for Submission: The step includes filling out an online application form along with attachments, which include your past academic level, biodata, SOP, and recommendation letters.

Application Review: The admissions committee considers your application and reviews the records of your academic performance, employment history, and letters of recommendation.

Interview (if applicable): Some schools may carry out interviews through video conferencing, over the phone, or in person.

Offer of Admission: If selected, the student receives an offer letter containing admission terms, the program start date, and the costs of tuition, as well as any other conditions. Confirm your intention to join the institution and provide cash for any costs by the given deadline.

Visa Application: Prospective students comprise international students who seek a Subclass 500 student visa while fulfilling health and financial conditions.

Jobs and Placements for an MBA in Finance in Australia

After completing MBA in Finance in Australia, the graduates have numerous opportunities in different areas of working. Whether it is corporate finance, investment banking, consulting, financial planning, or any other relevant field, students can apply for such well-paid positions.

Graduates with an MBA in finance in Australia are often paid higher than those with only a finance degree at the bachelor’s level. This helps explain why it’s a good idea to invest in getting an MBA. Have a look at table showing examples of job positions with their average salaries graduates:

Top Companies Recruiting Individuals with Masters in Finance in Australia

Most international organizations seek individuals with an MBA degree in Finance in Australia due to their enhanced skills and talents. The demand for graduates in the financial field remains high and such graduates are employed to work in investment banks and risk management sections as well as in analyzing sections of the financial market. It is also important to note that consultants also appreciate the approach towards the financial sector and professional development within the field. Here is a list of the top Australian companies recruiting graduates with Masters in Finance in Australia:

• Barclays
• Commonwealth Bank of Australia
• ANZ Banking Corp.
• Westpac Banking Corp.
• JP Morgan.
• HSBC Global Asset Management.
• Allianz Global Investors.
• Fidelity Investments.
• Woolworths.
• Telstra Corporation Ltd.

Is It Worth to Study MBA in Finance in Australia?

Absolutely! Australia also offers a great chance to receive an MBA in Finance, to get more development in your chosen field and get a high-quality education. Best universities worldwide, an active financial market, substantial wages – these factors make Australia one of the best chosen states for everyone who want to succeed in the sphere of finance. There is nothing as wise as investing on yourself when seeking for a dream job that will enable you to work as a finance professional in Australian markets.

To gather more information about an MBA in Finance in Australia, please contact our education consultants at Aspire Square. They will be able to help you throughout your process of studying overseas in Australia. Good luck!