Master's in Finance in Australia - Universities, Scholarships & Cost
What if the right postgraduate degree could open doors across Asia-Pacific’s most dynamic financial markets? A Master’s in Finance in Australia does exactly that, and international students are noticing it.
Multiple Australian universities consistently rank among the world’s top institutions for Accounting and Finance in the QS World University Rankings by Subject Accounting and Finance.
With globally respected degrees, a thriving financial sector, and real post-study work opportunities, Australia has become one of the most practical and rewarding choices for finance education today.
This guide gives you a clear, honest picture of costs, scholarships, top universities, and what to expect if you are pursuing a Master’s in Australia.
Why Are International Students Choosing Australia for Finance?
Australia is a well-connected part of the Asia-Pacific financial region, with strong links to major global and regional markets.
Sydney and Melbourne are home to the regional headquarters of major global banks, investment firms, and financial consultancies. This means students learn in an environment shaped by the actual industry.
Here is what makes Australia a strong choice, specifically for finance:
1. Direct Access to Asia-Pacific Markets:
Australia’s financial sector is deeply integrated with markets across Asia. This makes it an ideal base for students with regional career ambitions.
2. Practical, Industry-Connected Curriculum:
Most programs include Bloomberg terminal access, financial modelling, and real-world project work, alongside regular industry guest lectures and internship pathways.
3. Post-Study Work Rights:
International graduates can apply for the Temporary Graduate Visa (Subclass 485). This allows them to live and work in Australia after completing their degree.
This takes typically for two to four years, depending on the qualification, location and current immigration policy.
4. CFA & CPA Pathways:
Many Australian finance programs offer pathways towards professional certifications. Certifications like CFA, CPA Australia, and FINSIA membership, sometimes with exam exemptions built into the degree.
5. Part-Time Work While Studying:
Student visa (Subclass 500) holders can work up to 48 hours per fortnight during the semester, as per current government regulations. This helps students to manage their living costs.
Which Australian Universities Offer the Best Master's in Finance?
Australia has several strong options across different cities. The table below compares the most well-recognised universities for a Master’s in Finance, based on subject-specific rankings & program.
| University | Program Name | Program Duration |
|---|---|---|
|
UNSW Sydney |
Master of Finance |
2 years |
|
University of Melbourne |
Master of Management (Finance) |
2 years |
|
Macquarie University |
Master of Banking & Finance |
2 years |
|
University of Queensland |
Master of International Economics and Finance |
2 years |
|
Monash University |
Master of Global Business & Advanced Finance |
2 years |
|
Adelaide University |
Master of Finance |
2 years |
When comparing universities, look at all the factors like employability rate, location, specialisations offered, course structure, cost and scholarships.
UNSW Sydney is consistently ranked among the top universities in Australia for Accounting & Finance and regularly features within the global top tier in QS subject rankings.
The University of Macquarie or RMIT, meanwhile, offer merit-based scholarships for international students and consistently produce highly employable graduates. Macquarie University stands out for its applied finance focus, particularly in quantitative and investment-based roles. At the same time, RMIT is known for giving industry-focused learning.
There are other good institutions like ANU, UWA, LaTrobe University, Swinburne University of Technology, Deakin University, UTS, QUT, etc. They offer a wide range of courses with merit-based scholarships on tuition fees.
What Does a Master's in Finance in Australia Actually Cost?
Understanding the full cost of study before you apply is just as important as choosing the right university. The table below breaks down the key expenses you should plan for.
| Expense Category | Estimated Amount (AUD) |
|---|---|
|
Tuition Fees (per year) |
AUD 27,000 – 57,000 |
|
Living Cost |
AUD 29,710 |
|
Student Visa (Subclass 500) |
AUD 2,000 (base fee) |
|
Health Cover – OSHC (entire duration of studies) |
AUD 1600 approx. |
|
Travelling Cost (Airfare) |
AUD 2000 Approx. |
|
Total Cost of studies |
AUD 62310 – AUD 92310 |
The above costs are indicative and may vary by university, course, and location. Living expenses are based on Australian student visa (Subclass 500) requirements.
Visa fees are subject to change, and OSHC costs depend on the provider and duration. Overall expenses can be higher in cities like Sydney and Melbourne, depending on lifestyle.
Sources: Department of Home Affairs (DoHA), Australia living expenses -DoHA, OSHC
A realistic total annual budget covering tuition and living costs typically falls between AUD 62,000 and AUD 92,000 for most finance students in Australia.
What Scholarships Can Actually Help You Pay for This?
University-specific merit-based scholarships are available, and some of them are substantial. Here is a clear overview of the most impactful options for international students pursuing a Master’s in Finance in Australia:
- RMIT – Future Leader Scholarship – partial tuition fee reduction (varies by intake and eligibility).
- Adelaide University – Academic Excellence Scholarship – up to 30 % tuition fee reduction.
- UNSW – International Student Award – 15% reduction on tuition fees.
- QUT – International Merit Scholarship – upto 25% reduction on tuition fee.
- Deakin University – Deakin International Scholarship – upto 25% reduction on tuition fees.
Scholarships Offered by the Australian Government.
- Australian Government Research Training Program (RTP) – This is for research students, covers tuition fees and provides a stipend for living.
- Destination Australia Scholarship – It provides financial support to international students studying in regional Australian Universities.
- Government-funded research scholarships such as the Research Training Program (RTP) support eligible postgraduate research students.
One thing many students miss is that scholarship deadlines are usually separate from university application deadlines. Treat your scholarship applications as a parallel process, not an afterthought.
What Are the Admission Requirements for a Master's in Finance in Australia?
Requirements vary between universities, but the following framework covers what most programs expect:
1. Academic Qualification:
A bachelor’s degree in a relevant field such as finance, economics, accounting, business, or mathematics. Some universities accept applicants from other disciplines if they can demonstrate strong quantitative ability or relevant work experience.
2. Academic Performance:
Applicant must have typically 65% or higher, as assessed by each university’s own postgraduate entry calculator. UNSW, for example, uses its own credit average calculator for this purpose.
3. English Language Proficiency:
For non-native English speakers, most programs require an IELTS score of 6.5 to 7.0, a TOEFL score of 84 to 100, or equivalent PTE Academic scores. No individual band should fall below 6.0.
4. GMAT or GRE (Where Required):
Some programs request a GMAT score in the range of 600 to 700, or equivalent GRE scores. Many universities offer waivers for applicants with substantial relevant work experience.
5. Genuine Student Requirement:
A Genuine Student (GS) statement is required, explaining your academic background, study plans, and intent to study in Australia. For student visa purposes, this must also reflect your genuine intent to study in Australia.
6. Work Experience:
Not always mandatory (unlike an MBA), but it clearly strengthens your application, particularly for programs with professional electives or specialisations.
What Specialisations Can You Choose in an Australian Master's of Finance?
One of the practical strengths of studying finance in Australia is the ability to tailor your degree toward a specific career direction. Common specialisation areas across leading Australian programs include:
- Corporate Finance and Investment Banking
- Funds and Asset Management
- Financial Technology (FinTech)
- Quantitative Finance and Financial Engineering
- Risk Management and Financial Regulation
- International Finance and Global Markets
- Banking and Financial Institutions
- Sustainable Finance and ESG Investing
UNSW Business School, for example, offers officially named specialisations in Funds Management, Corporate Finance and Investment Banking, and Financial Technology within its Master of Finance.
What Kind of Career Can You Build With a Master's in Finance From Australia?
Graduate outcomes for finance students in Australia are well-documented and consistently positive. According to Glassdoor data (based on employee-submitted salaries), finance graduates in Australia earn between AUD 67,000 and AUD 76,000 on average in entry-level roles.
PayScale’s MFin salary data puts the average salary for Master of Finance graduates in Australia at around AUD 81,000.
The Most Common Roles that Finance Graduates From Australian Universities.
| Job Role | Average Salary (AUD Per Year) |
|---|---|
|
Finance Specialist |
AUD $90,000 to AUD $105,000 |
|
Investment Analyst |
AU$91,761 |
|
Portfolio Manager or Asset Manager |
AU$133,256 |
|
Corporate Finance Advisor |
AUD $99,000 to AUD $150,000
|
|
Risk and Compliance Manager |
AUD$130,000 to $150,000 |
|
FinTech Consultant |
AUD $106,263
|
|
Financial Analyst |
AUD $107,653
|
|
Banking and Treasury Officer |
AUD $139,698 |
Common Mistakes Students Make When Applying, And How to Avoid Them?
Many students invest months preparing strong applications, but fall short because of avoidable oversights. Here are the most common ones:
1. Applying Too Late:
Most top Australian universities open applications 12 to 18 months before the intake. Missing early rounds often means losing scholarship eligibility and having fewer program options.
2. Underestimating Financial Proof Requirement:
To qualify for a student visa, you must demonstrate access to at least AUD 29,710 in funds to cover your first year of living expenses, on top of tuition. Many students only discover this requirement at the visa stage.
3. Ranking a University Purely on Overall Position:
Overall university rankings and subject-specific rankings can tell very different stories. A university ranked 80th overall may still be in the top 25 globally for Accounting and Finance. Always check subject-level rankings before deciding.
4. Treating Scholarships as an Afterthought:
Scholarship applications are a separate process with their own deadlines, often months before the semester begins. Start researching them early, ideally at least 12 months before your planned intake.
5. Not Addressing the Genuine Student Requirement:
Australia’s student visa process requires you to demonstrate genuine intent to study. Your statement of purpose should clearly explain why you chose Australia, why this specific program, and what your plans are after graduation.
6. Ignoring the Post-Study Work Visa:
The Temporary Graduate Visa (Subclass 485) allows eligible graduates to live and work in Australia after completing their studies.
Understanding the eligibility criteria before you start your program helps you plan your post-graduation options effectively.
Frequently Asked Questions
It’s a 2-year full-time course. 1/1.5 year duration courses are also available; however, they are not eligible for a post-study work visa.
Yes! If you complete a 2-year full-time master’s degree, you are allowed to stay in Australia for 2 to 4-year duration under visa subclass 485, depending on the qualification, location and current immigration policy.
No, GMAT is not required by most universities, but some top programs may recommend or require it.
Some regional universities offer more affordable tuition fees, typically starting from AUD 25,000–30,000 per year for finance-related programs.
Australia has two major intakes – February and July, with some universities also offering a limited November intake.
Ofcourse its worth studying a Master of Finance in Australia as it gives industry-focused knowledge and practical work opportunities and good returns on your investments.