Content Curator | Updated On - Apr 20, 2024
MBA in Finance in Australia is a popular postgraduate degree program that offers comprehensive knowledge and expertise in financial management, investment strategies, and financial analysis. The duration of MBA in Finance in Australia ranges from 1.5 to 2 years, while a part time program can be completed in 4 years.
Admission to the top MBA Finance colleges in Australia requires a bachelor's degree in accounting, finance, or a related field. In addition, students with an IELTS score of 6.0 or above are more likely to be accepted into their preferred university. Some universities may also require candidates to have a minimum of 3 years of work experience. The tuition fees for MBA in Finance in Australia range from 35,000 AUD to 70,000 AUD, which translates to approximately 18 lakhs to 37 lakhs INR for Indian students.
MBA in Finance in Australia is also popular among international students due to the multicultural environment and diverse range of job opportunities available in the country. Upon completing the program, students can expect to find promising job placements in leading financial institutions, consulting firms, and investment banks. Some of the top employers of MBA in Finance graduates in Australia include Commonwealth Bank, Westpac Banking Corporation, ANZ Banking Group, and National Australia Bank. Graduates can expect to earn a competitive salary package with an average salary of 70,000 AUD to 150,000 AUD (37 lakhs to 79 lakhs INR) per year.
MBA in Finance in Australia: Highlights
| Degree Types | MBA in Finance |
| Course Duration | 2 years |
| Program Types | Full-Time | Part-Time |
| Admission requirements | Bachelor’s degree from a recognized university | 3+ years of professional management experience |
| Documents Required | Updated Resume/CV | Official Transcripts |
| English Proficiency | IELTS score: 6.5 | TOEFL: 88 |
| Tuition Fee | 35,000 AUD-70,000 AUD (18 lakhs-37 lakhs INR) |
| Average Salary | 101,000 AUD (53 lakhs INR) |
| Top Recruiters | EY | Deloitte | Accenture | Cognizant | Suncorp |
Best Universities in Australia for MBA in Finance
Some of the top MBA Finance colleges in Australia are tabulated below, along with the application deadlines and annual tuition fee:
| Top Universities | Program | Application Deadline | Tuition Fee (AUD) |
|---|---|---|---|
| University of South Australia | MBA (Finance) | Rolling | 43,800 |
| Western Sydney University | MBA (Finance and Investment) | February 18, 2024 | 35,016 |
| University of Newcastle | MBA (Applied Finance) | January 14, 2024 | 40,330 |
| University of Tasmania | MBA (Finance) | Rolling | 67,664 |
| Bond University | MBA (Finance) | Rolling | 70,170 |
| Flinders University | MBA (Finance) | Rolling | 39,400 |
Looking for best MBA colleges in Australia? Here are some of the top MBA colleges in Australia:
Why study MBA in Finance in Australia?
- Australia is home to some of the top universities in the world for MBA in Finance such as University of South Australia, Western University Sydney, and University of Newcastle, as per the QS World University Rankings 2024.
- The Financial and Insurance Services industry in Australia is expected to see a significant growth in employment opportunities, with a projected increase of 6.3% or 33,200 jobs from 2021 to November 2026. Among the various occupations within the industry, Financial Investment Advisers and Managers remain the largest employing occupation.
- Salaries for MBA in Finance graduates in Australia are competitive, with entry-level salaries averaging around 70,000 AUD (40 lakhs INR) per annum. With experience, graduates can expect to earn even higher salaries, with some earning upwards of 150,000 AUD (85 lakhs INR) per annum.
- Some of the top employers of MBA in Finance in Australia, along with the average annual salary are given below:
- Australia's unemployment rate as of 2023 is 3.7%, indicating numerous job opportunities for graduates.
MBA in Finance in Australia Requirements
Majority of the top universities for MBA in Finance in Australia require a bachelor’s degree from an accredited university with a higher academic standing. Some other admission requirements are given below:
| Top Universities | Admission Requirements |
|---|---|
| University of South Australia | Bachelor’s degree from a recognized university | 3+ years of professional management experience |
| Western Sydney University | Bachelor’s degree from a recognized university |
| University of Newcastle | Bachelor’s degree (hons) from a recognized university | Updated Resume/CV |
| University of Tasmania | Bachelor’s degree from a recognized university |
| Bond University | Bachelor’s degree from a recognized university | 3+ years of professional management experience |
| Flinders University | Bachelor’s degree from a recognized university |
MBA in Finance in Australia Eligibility
Checklist for the basic admission requirements and eligibility criteria for MBA in Finance in Australia:
- Bachelor’s degree/Bachelor’s (hons) degree
- Minimum overall aggregate of 65-70%
- 1-3 years of professional management work experience
- English Proficiency Test Scores IELTS: 6.5 | TOEFL: 88
- Updated Resume/CV
- Official Transcripts
- Valid Passport
- Australian Student Visa
MBA in Finance in Australia: English Language Proficiency Test Scores
The English proficiency test scores required by the top universities for MBA in Finance in Australia are given below:
| Top Universities | IELTS | TOEFL |
|---|---|---|
| The University of South Australia | 6.5 | 79 |
| Western Sydney University | 6.5 | 82 |
| The University of Newcastle | 6.5 | 82 |
| The University of Tasmania | 6.5 | 88 |
| Bond University | 6.5 | 79 |
| Flinders University | 6.5 | 82 |
MBA in Finance in Australia: Cost of Studying
The total cost of education for students wishing to study in Australia is given below. To ensure a smooth experience, it is always preferable to be aware of the costs involved and optimize the budget beforehand.
MBA Finance in Australia Fees
The tuition fees for some of the top universities for MBA in Finance in Australia is as follows:
| Top Universities | Tuition Fee (AUD) | Tuition Fee (INR) |
|---|---|---|
| University of South Australia | 43,800 | 23 lakhs |
| Western Sydney University | 35,016 | 18 lakhs |
| University of Newcastle | 40,330 | 21 lakhs |
| University of Tasmania | 67,664 | 35 lakhs |
| Bond University | 70,170 | 37 lakhs |
| Flinders University | 39,400 | 20 lakhs |
Cost of Living in Australia
The estimated monthly cost of living in Australia is 2,326 AUD (1.28 lakhs INR). The breakdown of the associated costs is provided in the table below:
| Expense Type | Average Cost (AUD) | Cost Equivalent (INR) |
|---|---|---|
| Accommodation | 1,495 | 82,010 |
| Food | 312 | 17,115 |
| Travel | 150 | 8,228 |
| Internet | 76 | 4,169 |
| Utilities | 207 | 11,354 |
| Miscellaneous | 86 | 4,717 |
MBA in Finance in Australia: Scholarships
In addition to the tuition fees, students also need to cover the total cost of travel and accommodation in Australia, which can become an expensive deal. Numerous scholarships are offered by the top universities in Australia for helping students with their financial burden. Some of the scholarships for international students in Australia are tabulated below:
| Scholarships | Eligibility | Award Details (AUD) |
|---|---|---|
| Vice Chancellor's International Excellence Scholarship | Enrolled in University of South Australia | Academic Merit | 50% tuition fee waiver |
| Western Sydney International Scholarships | Academic Merit | 6,000 per year |
| South Asia Excellence Scholarship | Enrolled in University of Newcastle | 10,000 per year |
| Dean of Business and Economics MBA Merit Scholarship | Enrolled in the MBA program of University of Tasmania | 50% tuition fee waiver |
| Transformer Scholarship | Enrolled in Bond University | 50% tuition fee waiver |
| Global Scholarships | Enrolled in Flinders University | 20% tuition fee waiver |
MBA in Finance in Australia Salary
Pursuing an MBA in Finance in Australia can lead to various job opportunities in the financial sector. Some of the common jobs in Australia that MBA in Finance graduates can apply for include:
| Job Role | Average Salary (AUD) | Average Salary (INR) |
|---|---|---|
| Management Accountant | 75,794 | 40 lakhs |
| Operations Manager | 113,352 | 60 lakhs |
| Finance Manager | 105,383 | 55 lakhs |
| Senior Business Analyst | 116,383 | 61 lakhs |
| Chief Financial Officer (CFO) | 175,360 | 92 lakhs |
| Financial Advisor | 96,221 | 50 lakhs |
| Finance Officer | 64,915 | 34 lakhs |
| Cost Controller | 86,129 | 45 lakhs |
| Accountant | 63,319 | 33 lakhs |
MBA in Finance in Australia: Return on Investment
MBA in Finance in Australia can provide a high return on investment (ROI) for students who pursue the program. MBA graduates in finance typically receive higher salaries than those with just a bachelor's degree in finance, which can justify the investment in pursuing an MBA degree. The ROI of some of the top universities in Australia for MBA in Finance in Australia can be seen in the graph below:
| Top Universities | Tuition Fee | Average Salary |
|---|---|---|
| The University of South Australia | 43,800 | 166,000 |
| Western Sydney University | 35,016 | 130,000 |
| Bond University | 70,170 | 158,000 |
MBA in Finance v/s Masters in Finance in Australia
Australia has become one of the most popular study abroad destinations for international students seeking education in finance. Among the various degree options available, two programs stand out -MBA in Finance and Masters in Finance in Australia. While both programs offer rigorous training in finance and can lead to high-paying careers, they differ in significant ways. This section will explore the key differences between the MBA in Finance and Masters in Finance in Australia:
| Parameters | MBA in Finance in Australia | Masters in Finance in Australia |
|---|---|---|
| Course Duration | 2 years | 1-1.5 years |
| Admission requirements | Bachelor’s degree from a recognized university | Updated Resume/CV | Official Transcripts | Bachelor’s degree in business, commerce, or related fields | Overall aggregate of 65-70% | GRE Scores | 2 LORs |
| Work Experience | 3+ years of professional management experience | Not required but recommended |
| English Proficiency | IELTS: 6.5 | TOEFL: 88 | IELTS: 6.5 | TOEFL: 86 |
| Tuition Fee | 35,000 AUD-70,000 AUD (18 lakhs-37 lakhs INR) | 31,000 AUD-70,000 AUD (17 lakhs-40 lakhs INR) |
| Average Salary | 101,000 AUD (53 lakhs INR) | 67,500 AUD (38.37 lakhs INR) per year |
MBA in Finance in Australia v/s MBA in Finance in UK
For applicants wondering, “Which is better for MBA in Finance: Australia or UK?”, the table below provides basic differences between the two countries:
| Parameters | MBA in Finance in Australia | MBA in Finance in UK |
|---|---|---|
| Degree Types | MBA in Finance | MBA with a specialization in Finance |
| Course Duration | 2 years | 1 year |
| Program Types | Full-Time | Part-Time | Full-Time, Part-Time |
| Admission requirements | Bachelor’s degree from a recognized university | 3+ years of professional management experience | Updated Resume/CV | Official Transcripts | Bachelor’s (hons) degree| Minimum overall aggregate of 60-70% | Personal Statement | Updated Resume/CV | 1-2 LORs | Essay Questions | Official Transcripts |
| Work Experience | 1-3 years | 2-5 years |
| GMAT/GRE Scores | Not required | GMAT: 580-680 | GRE Verbal: 156 | GRE Quantitative: 158 |
| English Proficiency | IELTS: 6.5 | TOEFL: 88 | IELTS: 6.5-7.5 | TOEFL: 88-100 |
| Tuition Fee | 33,000 AUD-70,000 AUD (18 lakhs-40 lakhs INR) | 12,000-65,000 GBP (12.10-65.657 lakhs INR) |
| Monthly Cost of Living | 2,326 AUD (1.28 lakhs INR) | 1,120 GBP (1.11 lakhs INR) |
| Average Salary | 98,000 AUD (55 lakhs INR) | 59,000 GBP (59.51 lakhs INR) |
Also Read: MBA in Finance in UK
The popularity of MBA in Finance in Australia among international students is due to the country's thriving economy, which offers numerous opportunities for career growth in the financial sector. The course is designed to provide students with a strong foundation in financial management, investment analysis, risk management, and strategic decision-making.
FAQs
Ques: Is Australia good for MBA in Finance?
Ans: Australia is home to some of the top universities for MBA in Finance such as University of South Australia, Western University Sydney, and University of Newcastle, as per the QS World University Rankings 2024. Salaries for MBA in Finance graduates in Australia are competitive, with entry-level salaries averaging around 70,000 AUD (37 lakhs INR) per annum. With experience, graduates can expect to earn even higher salaries, with some earning upwards of 150,000 AUD (79 lakhs INR) per annum.
Ques: How much does an MBA in Finance cost in Australia?
Ans: The tuition fees for MBA in Finance in Australia range from 35,000 AUD to 70,000 AUD, which translates to approximately 18 lakhs to 37 lakhs INR for Indian students
Ques: Which university is best for MBA in Finance in Australia?
Ans: The best universities in Australia for MBA in Finance are:
- University of South Australia
- Western Sydney University
- University of Newcastle
- University of Tasmania
- Bond University
- Flinders University
Ques: What are the minimum requirements for MBA in Finance in Australia?
Ans: Checklist for the basic admission requirements and eligibility criteria for MBA in Finance in Australia:
- Bachelor’s degree/Bachelor’s (hons) degree
- Minimum overall aggregate of 65-70%
- 1-3 years of professional management work experience
- English Proficiency Test Scores IELTS: 6.5 | TOEFL: 88
- Updated Resume/CV
- Official Transcripts
- Valid Passport
- Student Visa
Ques: Can I get a job in Australia after MBA in Finance in Australia?
Ans: Pursuing an MBA in Finance in Australia can lead to various job opportunities in the financial sector. Some of the common job roles that MBA in Finance graduates can apply for include:
- Operations Manager
- Marketing Manager
- Accountant
- Senior Business Analyst
- Finance Manager
- Cost Controller
- Finance Officer
- Financial Advisor
Ques: Is IELTS required for MBA in Finance in Australia?
Ans: Yes, students with an IELTS score of 6.0 or above are more likely to be accepted into their preferred university for MBA in Finance in Australia
Ques: How much can I earn with an MBA in Finance in Australia?
Ans: Graduates of MBA in Finance in Australia can expect to earn a competitive salary package with an average salary of 70,000 AUD to 150,000 AUD (37 lakhs to 79 lakhs INR) per year.
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