Pursuing an MBA from a prominent international destination keeps one ahead of the group. According to the QS World Ranking 2024, some of the business schools in Australia are among the top 100. A finance specialization in MBA gives you severe training in accounts to help you progress in financial insight. The occupation finance sector in Australia is projected to add over 50,000 jobs by 2024.
According to the 2021 survey, the yearly program fee for an MBA in Australia is about 59,966 AUD. In addition, fees have increased by 3.34% compared with last year. So, if you are planning to study for an MBA in Finance in Australia, keep reading about the scholarships, top universities for MBA in Australia, Eligibility, Admission Process, Jobs and Salary & more.
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Why Study MBA in Finance from Australia?
There are benefits to doing an MBA in Finance in Australia, such as obtaining the skills and knowledge essential to vertical growth in one's career. Some of the following benefits of doing an MBA in Finance are:
- Networking: By pursuing an MBA in Finance, you’ll have contact with experienced faculty, classmates, and business executives that you’ll meet during your degree and internships. Building a business network in Australia can help link you with the opportunities and offer provisions throughout your career.
- An MBA Degree is well-recognized globally: Obtaining an MBA in Finance will help you get an opportunity to work outside the country and explore different job opportunities in various finance companies. You can get maximum exposure to life and work within other cultures and surroundings.
- Holistic Development of Students: Australian business schools highlight interdisciplinary, comprehensive learning, with schools hoping to encourage the all-around expansion of international students by focusing on personal and leadership skills and evolving communication to inspire creativity among students.
- High Salary Potential: Once you’ve decided to do an MBA in Finance, training yourself with the skills and knowledge of what it takes to accomplish a business will offer you further chances to access executive-level roles and upscale your income.
Suggested: Australian Government’s New Career Matcher Tool For Foreign Students
Top 10 Universities in Australia for MBA in Finance
If you’re pursuing an MBA in Finance from Australia, below are some of the top universities in Australia for an MBA in Finance and other related details about universities.
- Melbourne Business School, University of Melbourne
- Australian Graduate School of Management, University of New South Wales
- Sydney Business School, University of Wollongong
- Macquarie Graduate School of Management, Macquarie University
- UQ Business School, University of Queensland
- QUT Business School, Queensland University of Technology
- Griffith Business School, Griffith University
- Curtin Graduate School of Business, Curtin University
- University of South Australia Business School, University of South Australia
- Monash Business School, Monash University
Confused about studying in the USA and Australia? Watch our elaborate video to find out!
1. Melbourne Business School, University of Melbourne
Melbourne Business School consistently ranks among the top business schools globally. Its MBA program offers Finance specialization and provides excellent networking opportunities and great industry connections. It has a Full-time, Part-time, Executive, and Senior Executive MBA. Melbourne Business School is known for its significant contributions to business research, with numerous research centers and institutes focusing on various aspects of business management.
|
QS World University Ranking 2024 |
14 |
|
Program |
Master of Finance |
|
Course Duration |
1.5 to 2 years full-time |
|
Tuition Fee |
INR 27,32,000 (AUD 49,000)/ year |
2. Australian Graduate School of Management, University of New South Wales
The Australian Graduate School of Management at the University of New South Wales has a highly regarded MBA in Finance program. The school is renowned for its strong industry links and practical learning approach. The curriculum aligns closely with the Chartered Financial Analyst (CFA) program, preparing students for CFA exams. Graduates are equipped to perform roles such as financial analysts, portfolio managers, and corporate finance professionals.
|
QS World University Ranking 2024 |
19 |
|
Program |
Master of Finance |
|
Course Duration |
1.5 years full-time |
|
Tuition Fee |
INR 48,17,000 (AUD 86,400)/ year |
3. Sydney Business School, University of Wollongong
Sydney Business School offers an MBA program with a major in finance. It is known for its flexible study options and intense focus on practical skills development. The program is designed for individuals aiming to deepen their understanding of financial management and advance their careers in finance. The curriculum covers core areas of finance, including financial statement analysis, investment management, financial markets, corporate finance, and risk management.
|
QS World University Ranking 2024 |
162 |
|
Program |
Master of Applied Finance |
|
Course Duration |
1.5 years full-time (part-time options are available) |
|
Tuition Fee |
INR 28,19,000 (AUD 50,544)/ year |
4. Macquarie Graduate School of Management, Macquarie University
The Macquarie Graduate School of Management (MGSM) at Macquarie University offers a Master of Finance program designed to provide students with comprehensive knowledge and skills in finance, preparing them for various roles in the financial industry. The curriculum includes a mix of core finance subjects and electives, allowing students to tailor their studies to their career interests. The course covers Corporate finance, financial markets, investment management, and financial risk management.
|
QS World University Ranking 2024 |
130 |
|
Program |
Master of Finance |
|
Course Duration |
1.5 years |
|
Tuition Fee |
INR 21,86,000 (AUD 39,200)/ year |
Suggested: Top 10 Best MBA Colleges in Australia for International Students
5. UQ Business School, University of Queensland
The University of Queensland is a member of the prestigious Group of Eight (Go8), a coalition of leading Australian universities. The University of Queensland offers a comprehensive Master of Commerce (Finance) program tailored to students aspiring to deepen their understanding and expertise in finance. The Master of Commerce (Finance) program includes various core courses, elective courses, and a capstone project or research component focused on finance.
|
QS World University Ranking 2024 |
43 |
|
Program |
Master of Commerce (Finance) |
|
Course Duration |
1.5 years |
|
Tuition fee |
INR 25,49,000 (AUD 45,728)/ year |
6. QUT Business School, Queensland University of Technology
The Master of Business (Finance) program at Queensland University of Technology is in high demand. The program covers various finance topics, including corporate finance, investment management, financial markets, and risk management. It combines theoretical knowledge with practical skills. Students can choose to study either full-time or part-time.
|
QS World University Ranking 2024 |
189 |
|
Program |
MBA (Finance) |
|
Course Duration |
1.5 years |
|
Tuition Fee |
INR 26,62,000 (AUD 47,800)/ year |
7. Griffith Business School, Griffith University
The Master of Finance at Griffith University provides students with in-depth knowledge and skills in financial management, investment, and corporate finance. The program emphasizes both theoretical and practical aspects of finance. It prepares graduates for various professional roles in the financial industry. The core subjects include Financial markets and institutions, Corporate finance, Investment analysis, Financial risk management, and Derivative securities.
|
QS World University Ranking 2024 |
243 |
|
Program |
Master of Finance |
|
Course Duration |
1.5 years (1 year for students with relevant qualifications) |
|
Tuition Fee |
INR 20,60,000 (AUD 37,000)/year |
8. Curtin University
The Master of Finance at Curtin University is planned to give professionals with finance responsibility the global managerial skills they require. Students will study various financial topics, including corporate finance, traditional and alternative investments, financial technologies, international business, banking and financial modeling.
|
QS World University Ranking 2024 |
183 |
|
Program |
Master of Banking and Finance |
|
Course Duration |
1.5 to 2 year |
|
Tuition Fee |
INR 19,50,000 (AUD 35,000)/year |
9. University of South Australia Business School, University of South Australia
The University of South Australia MBA is planned for experienced managers and enterprising leaders, with a strong practical focus on senior management choice. This MBA in finance course will give students the professional knowledge and skills to join and direct boards and better understand the influence of high-functioning boards and industry relevance.
|
QS World University Ranking 2024 |
326 |
|
Program |
MBA (Finance) |
|
Course Duration |
1.5 years |
|
Tuition Fee |
INR 20,07,000 (AUD 36,000)/ year |
10. Monash Business School, Monash University
Monash Business School offers a highly regarded MBA program specializing in finance. It is known for its strong focus on leadership, innovation, and global business, as well as its extensive alumni network and industry partnerships. The curriculum is designed to be highly relevant to current industry practices and trends.
|
QS World University Ranking 2024 |
42 |
|
Program |
Master of Advanced Finance |
|
Course Duration |
1.5 years |
|
Tuition Fee |
INR 25,05,000 (AUD 45,000)/ year |
Suggested: Top 10 Best MBA Colleges in Australia for International Students
Eligibility Criteria & Admission Requirements MBA in Finance in Australia
Business schools for MBA programs in Australia are accredited by some globally believed agencies, namely AACSB, EQUIS, and AMBA. Hence, it is known all over the world. To get admission to an MBA in Finance at Australian universities, students must fulfill the eligibility criteria, submit the mandatory documents and submit the relevant application fees. The following criteria are:
- Bachelor’s Degree
- English Proficient Test
- Work Experience
- Australia Study Visa
- Additional Requirements
So, these are some requirements that a student needs to fulfill to get admission efficiently. Let’s know it in detail:
1. Bachelor’s Degree
International students interested in doing an MBA in Finance in Australia must have an undergraduate degree in any stream from a recognized university with a minimum score of 65%.
2. English Proficiency Test
To secure admission to an Australian university, students must pass the English language proficiency test, including the IELTS or TOEFL exam. The minimum score for IELTS is 6 or 6.5, and for TOEFL, the overall score (iBT 60 to 90). In addition, some universities in Australia accept a GMAT score of 590 to get admission quickly.
3. Work Experience
Students must have 2-3 years of work experience before applying for an MBA program.
4. Australia Study Visa
A student visa permits the students to enter and remain in Australia for the duration of the registered course of study. They must complete an application form 157W after receiving the acceptance letter from the university.
Suggested: Know About ustralia Student Visa & Other Requirements
Documents Required to Study MBA in Finance from Australia
There are some additional documents needed for the admission process in Australian universities. The following documents are:
- Academic transcripts
- Certificate of test that includes GMAT, TOEFL, IELTS
- List of all certificates for undergraduate degrees from prior institutions.
- Updated CV/Resume
- GMAT/GRE score (optional)
- SOP (Statement of Purpose)
- LOR (Letters of Reccomendation)
- Bank statement with proof of sufficient funds (INR 34,70,000 or AUD 62,222 per year)
Cost of Studying MBA in Finance in Australia
The cost of studying for the MBA program includes fees for MBA Finance in Australia and the cost of living in Australia for international students.
1. Tuition Fees
The MBA finance in Australia fees include the average annual cost of AUD 45,000 to AUD 822,000 (INR 25,09,000 to INR 4,58,27,000). The tuition fees may vary depending on the university and course a student chooses.
2. Cost of living
The average annual living cost for an international student in Australia is 19,500 AUD or INR 10,87,000 annually. It includes meals, books, supplies, transportation, accommodation, personal expenses, etc.
Recommended: Total Expenses to study in Australia
Admission Process for MBA in Finance in Australian Universities
To apply to Australian universities, students must follow some steps to get hassle-free admission to the MBA in Finance program.
- Research some of the top universities in Australia offering MBA in Finance programs.
- Once you have decided on the course, you must determine which education providers offer it and which wage earner best suits your requirements.
- International students usually apply to Australian institutions online or by post. You can get application forms from the university's official website or request that the forms be posted.
- After processing the application form in the preferred university, prepare for the interview rounds with the institute.
- You will get a letter and an acceptance form if your application is acknowledged. Before accepting the offer, carefully read the letter and check any conditions that may apply.
- If you've accepted an offer letter from the applied Australian university, prepare for your departure and apply for a student visa.
Scholarships for MBA in Australia for International Students
More than 1150 scholarships exist for international students to make their studies affordable. The value of these scholarships may vary based on the courses selected and the applicants' performance.
|
Popular Scholarship |
Benefits |
|---|---|
|
Monash MBA International Women in Leadership Scholarship |
AUD 23,113 or INR 12,89,000 |
|
MBA (Intensive) International Prestige Scholarships |
100% tuition fee waiver |
|
Adelaide MBA Scholarship |
25% of tuition fee waiver |
|
MBA Student Scholarship |
25% tuition fee waiver |
|
AGSM Global Reach Scholarship and AGSM Excellence Scholarship |
Varies |
Job Opportunities & MBA Finance Salary in Australia
According to the job position statistics provided by the Australian Government, the job vacancy postings for Finance MBA graduates are over 6,000 annually. Moreover, the employment rate of finance MBA majors is 6.9% to 7.2% in the next five years. Some of the job options and MBA finance salary in Australia are:
|
Job Roles |
Average Annual Salary |
|---|---|
|
Case Manager |
AUD 80,412 or INR 44,82,000 |
|
Business Analyst |
AUD 94,000 or INR 52,39,000 |
|
Risk Manager |
AUD 139, 896 or INR 77,99,000 |
|
Management Consultant |
AUD 90,624 or INR 50,52,000 |
Suggested: Work Opportunities for International Students in Australia
From the Desk of Yocket
Australia is one of the world’s essential study destinations that welcome MBA students for various specializations. The country is a center for multinational companies that hire MBA professionals frequently. Pursuing an MBA in Finance from one of Australia’s top universities offers numerous benefits, including high global recognition, robust networking opportunities, and substantial salary potential.
So, if you’re considering doing an MBA in Finance in Australia, connect with our Yocket Professionals today. Counselors at Yocket can help you throughout your journey of applying to a university abroad. We’ve helped thousands of students gain admission to top B-schools like Stanford, Kellogg, and Harvard Business School, and we can help you do it too! Book a session with our professionals immediately and plan your journey for higher education in Australia.
