Pursuing MBA from a prominent international destination keeps one ahead in the group. According to the QS World Ranking 2024, some of the business schools in Australia are among the top 100. A finance specialisation in MBA gives you severe training in accounts to help you progress financial insight. Companies seek out MBA finance majors to assist their business expenditures and financial decisions. As MBA is a dynamic and constantly evolving field, one should be aware of the changes happening. 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’re planning to study MBA in Finance in Australia, in this blog, we have entailed below all the required information about the MBA program in Finance from Australia.
Why Study MBA in Finance from Australia?
There are benefits of doing an MBA in Finance in Australia and obtaining the skills and knowledge essential to give vertical growth to 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 a highly-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 degree 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 live and work within different cultures and surroundings.
Holistic Development of Students: Australian business schools highlight interdisciplinary, encyclopaedic 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 MBA in Finance, training yourself with the skills and knowledge of what it takes to accomplish a business will offer you further chance to access executive-level roles and upscale your income.
Suggested: Australian Government’s New Career Matcher Tool For Foreign Students
Top Universities in Australia for MBA in Finance
If you’re pursuing MBA in Finance from Australia, below are some of the top universities in Australia for MBA in Finance and other related details about universities.
- University of South Australia
- Western Sydney University
- The University of Newcastle
- Victoria University
- Curtin University
- University Of Tasmania
These are some of the best universities in Australia offering MBA in Finance for international students. Let’s know it in detail:
1. 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 boards 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 |
36,000 AUD/ year |
2. Western Sydney University
The MBA/Master of Applied Finance double degree offers a complete range of subjects preparing students with the skills and knowledge essential for careers in the banking and investment finance sectors. Students will develop a firm foundation in economic and financial philosophies and state-of-the-art measurable financial skills upon completing the dual degree.
|
QS World University Ranking 2024 |
494 |
|
Program |
MBA/Master of Applied Finance |
|
Course Duration |
2.5 years |
|
Tuition Fee |
31,760 AUD/ year |
3. The University of Newcastle
This joint degree program permits students to assume studies in the more general business disciplines of the MBA while also studying the specific Applied Finance MBA course. The program offers a foundation in fundamental business areas such as finance, organisational behaviour, accounting, economics, marketing and management. The MBA in finance offers graduates from varied undergraduate disciplines training and analytical skills in finance.
|
QS World University Ranking 2024 |
134 |
|
Program |
Master of Business Administration- Applied Finance |
|
Course Duration |
2 years |
|
Tuition Fee |
27,495 AUD/year |
4. Victoria University
The MBA in Finance prepares students for a financial specialisation with all-purpose business units such as Data Analysis for Business, Accounting for Management and Business Economics. Through this program, international students will progress in advanced financial management skills and advance their private or public sector careers.
|
QS World University Ranking 2024 |
236 |
|
Program |
Master of Finance |
|
Course Duration |
2 years |
|
Tuition Fee |
3,500 AUD/ per unit |
5. Curtin University
The Master of Finance at Curtin University is planned to give professionals with a finance responsibility the global managerial skills they require. Students will study an extensive range of financial topics, including corporate finance, traditional and alternative investments, financial technologies, international business, banking and financial modelling.
|
QS World University Ranking 2024 |
194 |
|
Program |
Master of Finance |
|
Course Duration |
1 year |
|
Tuition Fee |
30,000 AUD |
6. University Of Tasmania
The MBA in Finance is a full-time course in this university where students will be engaged in using teaching materials that link the lectures and workshops to national, local and global case studies. The course is grounded in a philosophy based on major principles to enable the achievement of lifelong financial knowledge and skills through sharing and building on varied experiences.
|
QS World University Ranking 2024 |
303 |
|
Program |
Master of Finance |
|
Course Duration |
2 years |
|
Tuition Fee |
35,950 AUD/ year |
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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 in Australian universities, students must fulfil 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 fulfil to get admission efficiently. Let’s know it in detail:
1. Bachelor’s Degree:
International students interested in doing MBA in Finance in Australia need to have an undergraduate degree in any stream from a recognised university with a minimum score of 65%.
2. English Proficiency Test
To secure admission to an Australian university, students need to pass the English language proficiency test, which includes IELTS or TOEFL exam. The minimum score for IELTS is 6 or 6.5, and for TOEFL, the overall score (iBT60 to 90). In addition, some universities in Australia accept a GMAT score of 590 to get admission easily.
3. Work Experience
Students need to 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.
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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 of the undergraduate degree from prior institutions.
- Updated CV/Resume
- GMAT/GRE score (optional)
- SOP
- LOR
- Bank statement with proof of sufficient funds (62,222 AUD per year)
Cost of Studying MBA in Finance in Australia
The cost of studying MBA program includes MBA Finance in Australia fees and the cost of living in Australia for international students.
1. Tuition Fees
The MBA finance in Australia fees includes the average annual cost of 45,000 to 822,000 AUD. The tuition fees may vary with 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 annually. It includes meals, books, supplies, transportation, accommodation, personal expenses, etc.
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Admission Process for MBA in Finance in Australian Universities
To apply to Australian universities, students need to follow some steps to get admission to MBA in Finance program hassle-free.
- Research some of the top universities in Australia offering MBA in Finance programs.
- Once you have decided on the course, you need to determine which education providers offer it and which wage-earner best suits your requirements.
3 .International students usually apply to Australian institutions, either online or by post. You can get application forms from the university's official website or request the forms to be posted.
- After processing the application form in the preferred university, prepare for the interview rounds with the institute.
- If your application is acknowledged, you will get a letter and an acceptance form. 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 are there 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 |
23,113 AUD |
|
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 is over 6,000 annually. Moreover, the employment rate of Finance MBA majors is valued to grow by 6.9% to 7.2% in the next 5 years. Some of the job options and MBA finance salary in Australia are:
|
Job Roles |
Average Annual Salary |
|
Case Manager |
80,412 AUD |
|
Business Analyst |
94,000 AUD |
|
Risk Manager |
139, 896 AUD |
|
Management Consultant |
90,624 AUD |
Suggested: Work Opportunities for International Students in Australia
Australia is one of the world’s important study destinations that welcome MBA students for various specialisations. The country is a centre for multinational companies that hire MBA professionals frequently. So, if you’re considering doing MBA in Finance in Australia, connect with our Yocket Professionals today and plan your journey for higher education in Australia.