Masters in Finance in Australia: An Informative Guide

Masters in Finance in Australia are Master of Commerce (M.Com), Master of Finance (M.Fin) and Master of Business degrees. It deals with different facets of finance. The duration of a full-time postgraduate degree in finance, in Australia, ranges from 1 to 1.5 years while a part-time program can be completed in 2 to 3 years. Bachelor’s degree in business, finance, or a related subject is needed to get into most of the universities.

In this article, let us look at:

  1. Why Study Masters in Finance in Australia
  2. Top Universities
  3. Types of Master’s Degrees in Finance offered in Australia
  4. Admission Procedure
  5. Cost of Studying
  6. International Scholarships for Masters in Finance in Australia
  7. Scope

1. Why Study Masters in Finance in Australia

  • Nearly 400,000 students study postgraduate management and commerce programs at Australian universities.
  • Finance is one of the popular streams among students due to the immense job opportunities and continuously increasing salaries of accounting and finance graduates.
  • According to, the salary of accounting and finance employees has increased in Australia from 81,000 AUD per annum in 2019 to 93,500 AUD per annum in 2021.

2. Top Universities

UniversityQS News Ranking 2022Program OfferedTotal Program Fee (in USD)
University of Sydney38Master of Commerce: Finance67,661
University of New South Wales43Master of Finance34,956
University of QueenslandNAMaster of Commerce: Applied Finance61,132
Australian National UniversityNAMaster of Finance66,114
University of Adelaide108Master of Finance60,757
University of Technology, Sydney133Master of Finance42,575
University of Wollongong193Master of Applied Finance32,510
Queensland University of Technology213Master of Business: Applied Finance47,915
Curtin University194Master of Commerce: Applied Finance47,500
University of South Australia326Master of Finance42,530

3. Types of Master’s Degrees in Finance offered in Australia

Three major types of a masters degrees in finance, offered in Australia, are Master of Commerce (M.Com), Master of Finance (M.Fin) and Master of Business. Course structure of Master of Commerce in Finance, Master of Finance and Master of Business in Finance is explained as follows:

M.Com/M.Fin: Both Master of Commerce with Finance specialization and Master of Finance deals with theoretical and applied aspects of finance. The difference between Master of Commerce and Master of Finance is that M.Com includes courses from commerce discipline too while M.Fin is completely dedicated to finance discipline only.

Master of Business: This program deals with financial management. Some of the courses included in finance specialization of Master of Business are corporate finance, security analysis, portfolio management, and trading & risk management.

4. Admission Procedure

Application Deadlines for Master in Finance in Australia:

UniversityApplication Deadlines
University of SydneyFebruary 11
University of New South Wales (UNSW)November 30
University of QueenslandNovember 30
Australian National UniversityMarch 31
University of AdelaideDecember 1
University of Technology SydneyAutumn: January 15,Spring: May 31,Summer: October 15
University of WolongongAutumn: January 17,Spring: June 27
Queensland University of TechnologyDecember 19
Curtin UniversityFebruary 13
University of South AustraliaNovember 15

Admission Requirements

Undergraduate Degree: Bachelors in business, commerce or equivalent discipline is required to get admission to the master of finance in Australia. Some universities such as University of Sydney accepts students from all disciplines.

Following are the minimum grades required at the undergraduate level for admission in the universities of Canada:

UniversityMinimum UG Grades Required
University of Sydney65%
University of Queensland4.50 GPA on a 7 point scale
Australian National University5.0 GPA on a 7 point scale
University of Wollongong50%
Queensland University of Technology4.0 GPA on a 7 point scale

GRE Score: It is also possible to use GRE scores as a substitution when required.

Work Experience: Although not a requirement for admission in most of the universities, relevant work experience in the field of finance gives students an edge in the admission process of masters in finance in Australia.

Reference Letters: Two or more reference letters from an employer or professors of an undergraduate degree can help in establishing the credibility of students.

English Proficiency Requirement for International Students

University Minimum IELTS Score Required Minimum TOEFL (iBT) Score Required
University of Sydney7.096
University of New South Wales7.094
University of Adelaide6.579
University of Technology Sydney6.579
University of Wollongong6.586
Queensland University of Technology6.579
Curtin University6.579
University of South Australia6.579

5. Cost of Studying

Pre-arrival Cost:

Type of ExpenseCost (in USD)
Application Fee100 (approx)
Visa Fee426 
IELTS Registration215 – 240
TOEFL (iBT) Registration160 – 250
GRE Registration205

Post-arrival Cost:

Although Curtin University has the lowest annual tuition fee (27,600 AUD) for a master in finance program among top Australian universities, the University of Technology Sydney (UTS) has the highest return on investment (ROI). It’s financed graduates are able to earn an average annual amount of 117,000 USD while paying just 28,376 USD per annum tuition fee.

Masters in Finance in Australia

Cost of Living in Australia

  • Accommodation (one-bedroom apartment): 5,013 USD
  • Meal: 4,655 USD
  • Power and Gas: 716 USD
  • Phone and Internet: 537 USD
  • Transport: 1,432 USD
  • Entertainment: 1,432 USD

6. International Scholarships for Masters in Finance in Australia

UniversityScholarships Amount in USD (per annum)
University of SydneyBusiness Dean’s Scholarship for Academic Excellence; Business School’s International Scholarship; Westbrook and Jessie Anstice International Travel Scholarship3,460-13,842
University of New South Wales (UNSW)Joseph Barling Fellowship; AMP Capital Infrastructure Scholarship10,381-20,762
University of QueenslandThomas A Plein Endowed Scholarship; India Global Leaders Scholarship3,000-13,842
Australian National University (ANU)ANU College of Business & Economics Community Engagement Award;ANU College of Business & Economics Honours Scholarship692-10,381
University of AdelaideGlobal Citizens Scholarship; Global Academic Excellence ScholarshipTuition fee waiver upto 50%
University of Technology SydneyInternational Postgraduate Coursework Full Tuition Scholarship; Postgraduate Academic Excellence ScholarshipTuition fee waiver
University of WollongongPostgraduate Academic Excellence Scholarship; Faculty of Business Country BursaryTuition fee waiver upto 30%
Queensland University of TechnologyTriple Crown ScholarshipTuition fee waiver of 25% for two semesters
Curtin UniversitySavvy Fintech Scholarship; Young Blogger Scholarship Award1,384-3,460
University of South AustraliaUniSA Business School Student Mobility Scholarships; 1,730-3,460

7. Scope

After completion of a master in finance from Australia, students can look for jobs in one of the sectors:

  • Banks and Insurance Companies
  • Corporate Management
  • Brokerage Firms
  • Financial Planning for Individuals and Organizations
  • International Financial Management
  • Investment Services

Following are the highest paying accounting and finance jobs in Australia:

JobsAverage Annual Salary (in USD)
Finance Manager134,353
Finance Executive109,580
Inventory Accountant101,740
Financial Operation Manager98.085
Financial Reporting Manager76,435
Internal Control Advisor67,290
Account Executive62,590
Chartered Accountant53,550
Accounting Technician41,421
Financial Assistance38,731


Students prefer to study masters in finance in Australia since the degree can be completed within one to 1.5 years and is recognized everywhere else in the world. You can also apply for one of the temporary Australian visas such as Skilled Graduate Temporary Visa or immediately after completion of education to work in Australia.

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