Your one stop to know everything about Master’s in Finance in Australia: types of Masters in the field, eligibility criteria for international students, best universities, tuition fee and scholarships available. The information is gathered by the MARA agent at West Highlander immigration and consultant services. Master’s in Finance in Australia is a specified degree for business and management students which enables them to make a career in finance, investment and banking departments of various firms and companies. This is a high paying career option and it will secure the future of the students.
In this blog
- Course highlights and types of Master’s in Finance in Australia
- English proficiency and Academic requirements for finance courses in Australia for international students
- Master’s in Australia fees and top universities for Master’s in Finance
- Scholarships for international students in Master’s in Finance in Australia
- Scope and jobs after Master’s in Finance in Australia
Course highlights and types of Master’s in Finance in Australia
Primarily Master’s in Finance in Australia is offered by business schools in Australia. There are three types of degrees which specialize in the Finance department in Australia; Master of Business, Master of Commerce (more commonly called M.Com) and Master of Finance (M.Fin). These give the fundamentals of finance and its application in the professional world.
The total duration of the program is 1 or 1.5 years and if the students want to do part time, it can take up to 3 years to complete. For the most part a bachelor’s degree in a related field is required for admission criteria and the estimated annual cost of the course can be AUD $36,000 to AUD $68,000. Master’s in Finance in Australia is immensely popular because there number of job options and there is a continuous increase in the salary brackets yearly. After the successful completion the average salary can be around AUD $60,000 per year.
English proficiency and Academic requirements for finance courses in Australia for international students
For the English proficiency test IELTS and TOEFL (Ibt) are commonly accepted by all the universities. In the IELTS test 6.5 in the overall requirement score (7.0 in some universities) and for TOEFL the score can be minimum of 79-96 overall depending on the institution.
Bachelor’s degree in a related field like finance or commerce is given preference by most universities, but in many universities like University of Sydney undergraduate degree from any discipline is accepted.
The candidates are also required to have at least 65% in their undergraduate degree, although the University of Wollongong accepts candidates with 50% as well. This may vary from institution to institution.
The students may also show a relevant work experience if they have any, this will make their admission chances better (not compulsory).
Master’s in Australia fees and top universities for Master’s in Finance
Swinburne University of Technology
If the students are looking to do Master’s in Finance in Australia Melbourne, this is a great option for them. The university accepts a bachelor degree in any field. The total duration of the program can be anywhere from 1 year, 18 months or 2 years, for the most part it depends on the prior learning and academic achievements.
The students can complete the program in 1.5 years if they have a relevant bachelor’s degree or a Graduate Diploma in a related field. And if the applicants have a Graduate Diploma in Finance they can complete this program in just one year.
The estimated annual tuition fee for Master’s in Finance is AUD$38,300. In the IELTS exam the students need to have 6.5 overall bands and 6.0 minimum in all modules. They can also give the TOEFL exam, the overall score needs to be 79 (13 in reading, 12 in listening, 18 in speaking and 21 in writing). PTE: 58 overall score with no less than 50 in any part.
As an added benefit, around 70% of the syllabus required to appear for Chartered financial Analyst and CAIA exams is covered in the program.
Victoria University
This is another great option for study abroad aspirants who want to do Master’s in Finance in Australia Melbourne. The next intake for the program is 2022 August and the fee per semester is around AUD $15,500. The total duration of the program is 2 years.
The university accepts a bachelor degree in any field, however of you have it in a relevant field then 48 of your total credit points may be removed, making the duration of the course shorter. The students are also eligible if they have a Graduate Diploma in a similar field.
6.5 is the overall band requirement for the IELTS test and 6.0 minimum in each module. In the TOEFL (IBT) exam 79 is required overall score (listening 19, speaking 19, reading 18 and writing 22.
University of Wollongong
The course offered by this university is Master of Applied Finance and the total duration is 1.5 years. The approximate annual fee is AUD $31,400.
In the English proficiency test part the students can give either TOEFL (ibt 86 overall) or IELTS (6.5 overall score) exam.
University of South Australia
February and August are the main intakes for this university. The students can complete the program in 1.5 years if they have a bachelor’s degree in a related field and 2 years if it is of any other discipline. The applicants can also have a Graduate Diploma or a Graduate certificate as an alternate option. If you do not have the prior degree in a related field you can complete the Graduate Certificate in Applied Finance.
The tuition fee for 2022 is AUD $35,900 per year. IELTS: 6.5 overall. TOEFL (IBT): 79 overall.
Curtin University
The course offered by this university is Master of Commerce (Applied Finance). The students study finance specifically in the second year. The duration of the program is 2 years, and the tentative tuition fee for one year is AUD $23,750. The program is also affiliated to Chartered Financial Analyst Institute.
The students can have a bachelor’s degree in any field.
IELTS: 6.5 overall score
TOEFL (IBT): 79 overall
Queensland University of Technology
The program offered by this university is Master of Business: Applied Finance and February and July is the main intake for this course. The program can be completed in 1, 1.5 or 2 years depending on the previous academic achievements, if the past degrees are in related field students can complete the course in a shorter period.
The annual tuition fee is AUD $29,600 per year.
IELTS: 6.5 overall bands
TOEFL (IBT): 79 overall score
University of Technology Sydney
Master’s in Finance program has a duration of 2 years and the total tuition fee is AUD $42,575. The university has Recognition of Prior Learning in place and a maximum of 8 subjects are exempted based on the prior academic degree.
IELTS: 6.5 overall bands
TOEFL (IBT): 79 overall score
Scholarships for international students in Master’s in Finance in Australia
- Swinburne International excellence Postgraduate Scholarship, this gives 30% off the tuition fee every year. (60% required in the bachelor’s degree)
- George Swinburne Postgraduate Scholarship: 30% of total fee of the course (based on the academic results previously).
- Postgraduate Academic Excellence Scholarship by the University of Wollongong: 30% of tuition fee waiver.
- Postgraduate Academic Excellence Scholarship by University of Technology Sydney, this provides waiver of tuition fee.
- Queensland University of Technology offers Triple Crown Scholarship and it provides 25% waiver of tuition fee.
Scope and jobs after Master’s in Finance in Australia
After successfully completing Master’s in Finance in Australia the students can work in fields such as, financial strategy planning, fund management, securities trading, financial risk management, financial analysis and corporate treasury management.
The job options are also vast and some of them are investment banker, equity analyst, Financial Manager, Inventory Accountant and Financial Reporting Manager. These are some of the highest paying jobs in the finance sector and after Master’s in Finance in Australia the students will be easily able to make a career in this.