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

Dec 25,2023

MBA in Finance in Australia

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.

The MBA in Finance in Australia is a 1.5 to 2-year course that offers a thorough grasp of financial management, investment analysis, risk evaluation, and strategic decision-making. After finishing the program, students are likely to secure favorable job placements in top-tier financial institutions, consulting agencies, and investment banks.

Course Highlight: Masters in Finance in Australia

ProgramMasters in Finance
Duration1.5 – 2 Years
Program TypePost-graduate
EligibilityBachelor’s in Any discipline
Exams requiredLanguage Proficiency test IELTS/ TOEFL(mandatory) , GRE/GMAT
Tuition fees30,000 AUD – 65,000 AUD
Jobs Business Analyst, Accountant, Finance Manager, Risk Manager
Average Salary1,01,000 AUD
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Why study MBA in Finance in Australia?

According to the 2022 QS World Ranking, several Australian business schools rank within the top 100 globally, making it an ideal destination for aspirants willing to study Masters in Finance in Australia. Australia stands out as a prime location for financial education, thanks to its expanding financial sector and globally recognized educational institutions. Choosing to take an MBA in Finance in Australia can be advantageous for several reasons:

  • The Australian Financial and Insurance Services sector is expected to experience notable growth in job opportunities, with an estimated rise of 6.3% or 33,200 jobs from 2021 to November 2026.
  • Programs such as MBA in Finance in Australia often emphasize a practical approach, integrating real-world applications through case studies and internships.
  • Australia has some of the top-ranked universities in the world offering Masters in Finance in Australia, including the University of Queensland, the University of New South Wales, and Monash University among others.
  • Graduates with an MBA in Finance in Australia usually start with a salary of around 70,000 AUD (40 lakhs INR) per year. As they gain experience, they can earn even more, with some making over 160,000 AUD (90 lakhs INR) annually.
  • Australia attracts students from all around the world, creating a diverse classroom environment that enhances your global perspective and networking opportunities.
Find out how an Australian MBA in Finance can open doors to global finance careers!

Top Universities for Masters in Finance in Australia

Choosing the best university to study Masters in Finance can be tricky for international students. When selecting the best university for an MBA in Finance in Australia, factors such as accreditation, faculty expertise, and industry connections should be considered. The table below gives you a clear picture of the top universities for Masters in Finance in Australia based on the QS World ranking.

Sr. NoName of the UniversityCityQS World Ranking
1University of MelbourneMelbourne33
2University of SydneySydney41
3Australian National UniversityCanberra30
4University of New South WalesSydney45
5Monash UniversityMelbourne57
6University of QueenslandBrisbane50
7University of Western AustraliaPerth90
8University of TasmaniaHobart293
9Curtin UniversityPerth193
10University of New CastleCollaghan192
Click to Explore Top Universities for MBA in Finance in Australia

Eligibility for MBA in Finance in Australia

Eligibility for an MBA in Finance in Australia typically involves meeting specific academic and professional criteria. Most universities require applicants to hold an undergraduate degree in a relevant field and may seek a minimum level of work experience, often in finance or a related industry.

  • 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 ensures that candidates are well-prepared for the rigorous academic curriculum and equips them with the necessary foundation to excel in the dynamic field of finance upon successful completion of the program.

Also Read: Study in Australia without IELTS : Comprehensive Guide

Cost of Studying MBA in Finance in Australia

The cost of studying an MBA in Finance in Australia varies depending on the university and program chosen. On average, tuition fees can range from AUD 30,000 to AUD 60,000 per year. It’s crucial for prospective students to carefully research and plan their budget, taking into account all potential costs associated with pursuing an MBA in Finance in Australia. The table below highlights the tuition fees for MBA in Finance in Australia.

UniversityTuition fees( AUD)Tuition fees (INR)
University of South Australia$43,80024,71,996
University of New Castle$40,30022,74,000
University of Melbourne$55,40031,27,049
University of Sydney$54,00030,48,000
Australian National University$48,00027,09,000
University of New South Wales$46,70026,35,800
University of Tasmania$38,30021,61,780
Apply Now for an Australian finance MBA’s Program!

Cost of Living in Australia for International Students

The cost of living in Australia for international students varies depending on factors such as location and lifestyle. Understanding and planning for these costs is essential for a comfortable and financially sustainable experience while pursuing education in Australia. The table below gives an idea about the average monthly expenditures of an international student living in Australia.

FactorAverage Cost (in AUD)
Accommodation1200-1500
Grocery300-400
Transportation 100-180
Internet80-90
Utilities200
Entertainment100-150

While costs vary, international students need to budget for a comfortable lifestyle, factoring in both tuition fees and living expenses. Universities often provide estimates to assist students in planning their finances during their stay in Australia.

Also Read: Cost of Living in Australia :Everything You Need to Know About Australia!

Scholarships To Study MBA In Finance In Australia

Scholarships offer invaluable support to international students in Australia by easing the financial burden of tuition fees and living expenses. These financial aids empower talented individuals to pursue their educational aspirations and contribute to the vibrant academic community in Australia. Take a look at the available scholarship options for MBA in Finance program:

ScholarshipFunded byScholarship amount
MBA International Prestige ScholarshipThe University of Western Australia100% tuition fees waiver
AGSM Global Reach Scholarship and AGSM Excellence ScholarshipUniversity of New South WalesVaried
Vice Chancellor’s International Excellence ScholarshipUniversity of South AustraliaUpto 50% tuition fees
Adelaide MBA ScholarshipUniversity of Adelaide25% tuition fee waiver
Monash Business School International Pathway ScholarshipMonash universityUpto 10,000 AUD

Steps to Apply for an MBA in Finance in Australia

Applying for a Masters in Finance in Australia involves a series of steps. If you are an aspirant willing to study in Australia, you must follow the below steps for successful enrollment in Australian universities.

  1. Research and Shortlist: Explore MBA in Finance programs in various Australian universities, considering criteria like faculty, location, and reputation. Create a shortlist based on preferences.
  2. Check Eligibility: Ensure you meet admission requirements, including academics, English proficiency, and any additional criteria like work experience or standardized tests.
  3. Submit Application: Complete the online application, including documents such as transcripts, CV, statement of purpose, and recommendation letters. Some schools may require GMAT or GRE scores.
  4. Application Review: The admissions committee assesses your application, considering grades, work history, and recommendations.
  5. Interview (if applicable): Some schools may conduct interviews via video, phone, or in-person.
  6. Offer of Admission: If selected, receive an offer letter with admission terms, program start date, tuition costs, and conditions. Accept the offer by the deadline and pay required fees to secure enrollment.
  7. Visa Application: International students apply for a Subclass 500 student visa, meeting health, character, and financial requirements.

Also Read: Upcoming Intakes to Study in Australia 2024

Jobs and Placements for an MBA in Finance in Australia

After obtaining an MBA in Finance in Australia, individuals have the chance to explore diverse employment prospects across various industries. Those with a finance specialization can venture into positions in corporate finance, investment banking, consulting, financial planning, and other related fields across various industries. 

Individuals who finish an MBA in finance in Australia usually gets paid more than those with just a bachelor’s degree in finance. This helps explain why it’s a good idea to invest in getting an MBA. Below are some examples of job positions along with their average salaries for graduates with an MBA in Finance in Australia:

Job TitleAverage Annual Salary (approx.)
Financial Manager$1,00,000- $1,50,000
Risk Manager$80,000-$1,40,000
Financial Analyst$65,000-$1,00,000
Business Analyst$80,000-$1,20,000
Investment Banker$1,00,000-$150,000
Asset Manager$90,000-$1,50,000
Financial Consultant$80,000-$1,20,000
Cost Controller$86,000-$1,30,000

Also Read: Cost of Living in Australia :Everything You Need to Know About Australia!

Top Companies Recruiting Individuals with Masters in Finance in Australia

A number of globally leading companies actively seek graduates with degree of MBA in Finance in Australia for their avant garde expertise and skillset. Leaders in the financial sector regularly recruit finance graduates for roles in investment banking, risk management, and financial analysis. Additionally, consulting giants also value the specialized knowledge of finance professionals, providing opportunities for career growth. Here is a list of 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.
Apply Now for an Australian Digital Marketing Master’s Program!

Is It Worth to Study MBA in Finance in Australia?

Absolutely! Pursuing an MBA in Finance in Australia not only promises a world-class education but also offers unique opportunities for professional growth. With globally recognized universities, a dynamic financial sector, and competitive salaries, Australia stands as a prime destination for those aspiring to excel in the field of finance. As the demand for skilled finance professionals continues to rise, choosing MBA in Finance in Australia is a strategic investment in a successful and rewarding career.

To learn more about an MBA in Finance in Australia, get in touch with our expert education consultants at Aspire Square. They will guide you in every step of your study abroad journey in Australia. Good luck!

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    FAQs

    01 What is the cost of studying an MBA in Finance in Australia?

    The costs for pursuing an MBA in Finance in Australia vary, with tuition fees spanning from 35,000 AUD to 65,000 AUD, equivalent to approximately 19.5 lakhs to 37 lakhs INR for Indian students.

    02 Is it possible to get a job after completing an MBA in Finance in Australia?

    Indeed! Post completing MBA in Finance in Australia, there are various avenues to secure a high-paying and secure job. Graduates with this qualification often find opportunities in leading financial institutions, consulting firms, and investment banks in Australia. 

    03 What is the potential salary for someone with an MBA in Finance in Australia?

    Graduates who completed MBA in Finance in Australia can expect to earn a competitive salary, typically ranging from  75,000 AUD to 150,000 AUD per year.

    04 Is it necessary to take IELTS for an Masters in Finance in Australia?

    Yes, having an IELTS score of 6.5 or higher increases the likelihood of being accepted into the preferred university for a Masters in Finance in Australia. A higher English proficiency score is generally beneficial for admission to academic programs in English-speaking countries. Is it your dream to study in top universities for Masters in Finance in Australia? Connect with Aspire Square and fulfill your aspiration to pursue MBA in Finance in Australia!

    Written By

    Dalia Avasthi

    Dalia Avasthi is the Student Visa Head in Aspire Square and has an expertise in counseling, mentoring, and processing within the Student Department. Her specialization lies in her knowledge of countries like Canada, Australia, UK, USA, and New Zealand. With more than 10 years of experience within the industry. She is a trusted and valuable asset of Aspire Square.

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