MS Finance in Australia: A Comprehensive Guide for 2024

Written by

Mynaz Altaf

Fact check by

Divyansh Chaudhari

Updated on

Jul 25,2024

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Why Pursue MS Finance in Australia 2024?

Earning a Master of Science in Finance (MSF) in Australia may be an extraordinary choice for numerous reasons. Here are some of the reasons to pursue MS finance in Australia:

1. Quality Education: Australian universities are renowned internationally for their high requirements, providing a complete and various finance curriculum. Students will benefit from in-depth knowledge and capabilities, which can be crucial for a successful career in finance. Australia is also home to some of the best colleges in Australia for MS in finance.

2. Industry Connections and Career Opportunities: Many Australian universities have strong relationships with the finance industry, presenting you with valuable internship and networking possibilities. This can give you a huge advantage when looking for a job after graduation, particularly given Australia’s job market is thriving for finance graduates.

3. International Experience and Employability: Studying in Australia gives you the chance to experience a brand-new culture and improve your communication capabilities. An MSF from an Australian university can make you an extra appealing candidate to employers around the world, establishing a wealth of worldwide career opportunities.

4. High Standard of Living: Australia is known for its stunning surroundings and high standard of living, making your study enjoyable and fun. In addition to being one of the best places for MS finance in Australia, students can enjoy a scenic landscape as well.

Thinking of going for MS finance in Australia? There are so many courses that one can opt for while moving to Australia. For students, Australia is heaven and provides many career opportunities. Studying abroad is incomplete without Australia, and there are so many courses that one can take. There are so many undergraduate and postgraduate courses that are famous among international students in Australia. Let us explore the MS finance in Australia.

Benefits of doing mas finance in Australia

Best Colleges in Australia for MS in Finance in 2024

There are some of the best universities for MS in finance in Australia, making it a preferred choice among students. Here are some of the best colleges in Australia for MS in finance:

College 

Program Name

Duration (Full-Time)

Application Deadlines

Estimated Fees (AUD)

University of Melbourne

Master of Finance

18 months

Varies by intake

$45,000 - $55,000

UNSW Sydney

Master of Finance

16 months

Varies by intake

$40,000 - $50,000

Australian National University (ANU)

Master of Finance

2 years

Varies by intake

$42,000 - $52,000

Monash University

Master of Finance

1.5 years

Varies by intake

$38,000 - $48,000

University of Queensland

Master of Finance

1.5 years

Varies by intake

$35,000 - $45,000

Macquarie University

Master of Finance

2 years

Varies by intake

$32,000 - $42,000

University of Adelaide

Master of Finance

1.5 years

Varies by intake

$30,000 - $40,000

University of Western Australia

Master of Finance

2 years

Varies by intake

$38,000 - $48,000

RMIT University

Master of Applied Finance

2 years

Varies by intake

$35,000 - $45,000

Curtin University

Master of Finance

2 years

Varies by intake

$33,000 - $43,000

 

Types of MS Finance in Australia

Subjects included in MS Finance in Australia

Australia offers a wide variety of Master's degrees in Finance, each designed to suit different career goals and interests. Here are some popular options for MS finance in Australia:

1. Master of Finance (MFin): This is the most common MS in finance in Australia course, providing a solid foundation in financial theory, financial modelling, investment analysis, and other essential finance concepts. It's a great choice if you are looking to work in fields like investment banking, corporate finance, or financial planning.

2. Master of Applied Finance: This program focuses on applying financial theory in real-world situations, with courses in financial modelling, valuation, risk management, and fintech. It's ideal if you are aiming for a career in corporate finance, project finance, or financial analysis.

3. Master of Business Administration (MBA) with a specialization in Finance: An MBA with a finance specialization combines general business administration courses with advanced finance topics. This degree is perfect if you want a broader business education along with finance expertise, especially if you are aiming for leadership roles or considering a shift into other business areas.

4. Master of Financial Planning (MFP): Another program in MS finance in Australia is MFP. It prepares you to provide financial advice to individuals and families, covering retirement planning, estate planning, risk management, and investment planning. It's a great path if you want to become a financial planner, wealth advisor, or financial counsellor.

5. Master of Quantitative Finance: This program is all about using math, statistics, and programming to solve financial problems. It includes topics like financial modelling, derivative pricing, risk management, and algorithmic trading. It's perfect if you're interested in careers like quantitative analysis, risk analysis, or algorithmic trading.

 

Eligibility for MS Finance in Australia

To apply for a Master of Science (MS) in Finance in Australia, you will generally need to meet a few key requirements, though specifics can vary between universities. Here are the general requirements for applying for MS finance in Australia:

1. Bachelor's Degree: You should have a bachelor’s degree in finance, commerce, business administration, or a similar field from a recognized institution. Some universities may also ask for a minimum GPA, often around 65%.

2. English Language Proficiency: If English isn’t your first language, you’ll need to prove your proficiency with a standardized test like the IELTS or TOEFL. Universities typically look for IELTS scores between 6.0 and 7.0, but this can vary.

3. GMAT/GRE: While not always necessary, some universities might ask for GMAT or GRE scores, especially if your undergraduate degree isn’t in finance.

4. Work Experience: Having relevant work experience in finance can be a plus, though it’s not always required. It can help strengthen your application and show your practical knowledge in the field.

How to Apply for MS Finance in Australia from India in 2024?

Being home to some of the best colleges in australia for MS in finance, this course is quite popular among students. Here is how to apply for MS finance in Australia:

1. Research and Shortlist Universities

  • Look into different universities in Australia that offer MS Finance programs.

  • Consider factors like the program's curriculum, available specializations, faculty expertise, university rankings, and tuition costs.

2. Check Your Eligibility

  • Each university has its own set of admission requirements, so make sure you meet them.

  • Typically, you’ll need:

  • A bachelor’s degree in finance, accounting, business, or a related field, usually with a minimum GPA of around 65%.

  • Proof of English proficiency through tests like IELTS or TOEFL if you’re from a non-English speaking country.

  • GRE or GMAT scores might be required or optional, depending on the university.

3. Gather Your Documents

  • Collect official transcripts from your previous universities.

  • Prepare your English language test scores (if needed).

  • Have your GRE or GMAT scores ready (if required).

  • Update your resume or CV to highlight your academic achievements and any relevant work experience.

  • Write a Statement of Purpose (SOP) to explain your career goals and why you want to pursue an MS in Finance.

  • Obtain letters of recommendation from professors or employers who can vouch for your qualifications.

4. Submit Your Application

  • Most universities use online application portals.

  • Follow the instructions carefully and pay attention to deadlines.

  • Make sure all your documents are uploaded in the correct format.

5. Wait for the Decision

  • Application processing times vary by university.

  • You’ll receive an email notification with the admission decision.

6. Apply for Student Visa

Once you've accepted the offer, apply for a student visa through the Australian Department of Home Affairs. You will need to provide documents such as your offer letter, proof of financial support, and health insurance.

Cost of Studying for MS Finance in Australia in 2024

Getting your Master's in Finance in Australia comes with a price tag that varies depending on where you enrol. Here’s a ballpark figure:

  • Tuition Fees: The cost of tuition for a Master's in Finance program in Australia typically falls between AUD 34,000 and AUD 70,000 per year. Keep in mind that this range can vary based on the reputation and ranking of the university. Generally, the best colleges in Australia for MS in finance have higher tuition fees.

  • Total Cost: In addition to tuition, you’ll need to budget for living expenses. This includes accommodation, groceries, transportation, and other everyday costs. On average, students can expect to spend between AUD 11,000 and AUD 22,000 annually on living expenses. Again, this can vary depending on factors such as the city you choose to live in and your personal lifestyle preferences.

Scholarship Option for MS Finance in Australia

As we are well aware, some of the best colleges in Australia for MS in finance come with a price tag. This price is sometimes not affordable for everyone, especially for international students. In such situations, scholarships come into the picture. Here are some of the scholarships one can apply for to study MS finance in Australia:

Scholarship Name

Awarded By

Expected Coverage

Focus Area

University Merit Scholarships

Various Universities

Varies (partial to full tuition)

Academic excellence

Australia Awards Scholarships

Australian Government

Full tuition + living expenses

Varies (Finance may be included)

Destination Australia Scholarships

Australian Government

Full tuition + living expenses

Specific fields (Finance may be included)

Roberta Sykes Fellowship

Swinburne University

Full tuition fees + stipend

Women in Finance

ANU The Westpac Future Leaders Scholarship

Australian National University

Full tuition fees + stipend

Leadership in Finance

Vice-Chancellor's Scholarships

Various Universities

Varies (partial to full tuition)

Academic merit or international students

Career Opportunities Post MS Finance in Australia

Getting an MS in Finance sets you up for exciting jobs in Australia's finance field. Here's what you could do:

  • Financial Analyst: Look at financial info to find risks, see where to invest, and make financial plans. (Average Salary: $70,000 AUD)

  • Investment Banker: Help companies join together, get money, or grow fast. It's a quick, busy job.

  • Risk Manager: Spot and fix money risks for companies. It's a big deal in today's changing market.

  • Financial Advisor: Give money advice to people and businesses, helping them with their money choices.

 
 

Conclusion

Getting an MS in Finance in Australia can lead to a great job in finance. With top-notch universities, different programs, and lots of chances to grow, Australia is a fantastic place to study finance. You can learn a lot, make connections with the finance world, experience new things, and enjoy a good lifestyle. After you graduate, you can work in roles like financial analyst, investment banker, risk manager, or financial advisor. Plus, there are scholarships to help pay for school, and these jobs can pay well. Studying finance in Australia is a smart move for your future!

If you want to pursue MS finance in Australia and want to know where to start, then you are on the right page. TerraTern is right here to walk you through the process and help you move to Australia to pursue MS finance in Australia!

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Frequently Asked Questions

What is the average duration of an MS in Finance program in Australia?

Typically, an MS in Finance program in Australia lasts between 1.5 to 2 years. It's like a journey where you dive deep into finance topics and gain valuable knowledge and skills.

Are scholarships available for international students studying finance in Australia?

Yes, there are scholarships available for international students pursuing finance studies in Australia. These scholarships can help cover tuition fees and living expenses, making it easier for students to pursue their dreams without worrying too much about finances.

How does the curriculum of Australian universities differ for MS in Finance programs?

Australian universities offer diverse and comprehensive curriculums for MS in Finance programs. They cover a wide range of finance topics, from financial analysis to investment banking, tailored to provide students with practical skills and knowledge relevant to the industry.

What are the key skills gained through an MS in Finance that are valued by employers?

Through an MS in Finance, students develop essential skills like financial analysis, risk management, investment evaluation, and strategic decision-making. These skills are highly valued by employers in the finance sector and can help students excel in their careers.

How does the networking opportunity in Australia benefit finance students compared to other countries?

Australia offers excellent networking opportunities for finance students through its strong connections with the finance industry. Students can interact with professionals, attend industry events, and secure internships, which can give them a competitive edge in the job market. This hands-on experience and networking can be invaluable for their future career growth compared to other countries.