Enrolling for an MBA in finance in Australia is a dream for many international students. Considering QS World Ranking 2024, the country has some top-ranking business colleges and schools. The annual tuition fee for an MBA in finance in Australia is estimated at around 59,966 AUD. When combined with other study expenses, the annual cost may go up to 45,000 AUD. MBA graduate in Australia can earn up to 1,32,793 AUD per annum which is quite the ROI. Reading this blog will guide you through a list of top universities/colleges in Australia for MBA finance—also, check fee structure and requirements!
MBA In Finance In Australia – Top Universities For International Students
The list of top MBA colleges is based on numerous considerations. Evaluating any global destination for studies depends on educational infrastructure, global ranking, and affordability for international students.
Refer to the table below for insight into the best universities in Australia for programmes like MBA in Accounting and Finance in Australia.
| Name Of The University | Programme Duration | Programme Name |
| University of South Australia | 1.5 years | MBA (Finance) |
| Western Sydney University | 2.5 years | MBA/Master of Applied Finance |
| The University of Newcastle | 2 years | Master of Business Administration-Applied Finance |
| Victoria University | 2 years | Master of Finance |
| Curtin University | 1 year | Master of Finance |
| University Of Tasmania | 2 years | Master of Finance |
Top Universities And Fees
Knowing the fee structure is primary for students aspiring to join universities or colleges in Australia. Tuition fees and the cost of studies differ from one college to another. The table below provides insight into the tuition fees of different universities/colleges in Australia for an MBA in finance.
| Name University | MBA Finance In Australia Fees | University Ranking (QS World 2024) |
| University of South Australia | 36,000 AUD/ year | 326 |
| Western Sydney University | 31,760 AUD/ year | 494 |
| The University of Newcastle | 27,495 AUD/year | 134 |
| Victoria University | 3,500 AUD/ per unit | 236 |
| Curtin University | 30,000 AUD | 194 |
| University Of Tasmania | 35,950 AUD/ year | 303 |
Eligibility Criteria & Admission Requirements For MBA In Finance in Australia
To enroll in top MBA finance colleges in Australia there are some basic requirements and eligibility. International students meeting the specific criteria are the only ones eligible for admission, and they are as follows:
- Students with a bachelor’s degree with a minimum of 65% marks can seek entry into an MBA in Finance in Australia.
- The English proficiency test is also mandatory for all international students. A student needs a score like IELTS 6 or 6.5; for TOEFL, it is around iBT60 to 90.
- For Indian students dreaming to study abroad Australia, some universities also accept a GMAT score of 590.
- Before applying for an MBA programme in Australia, students must acquire 2 to 3 years of work experience, which is essential for easy admissions.
- Visa permits students to enter any global destination. Similarly, a student visa Australia is required to apply for an MBA in Finance in Australia.
Documents Required
Some essential documents are required from international students before applying for an MBA in Finance as per the following list:
Average Cost of Doing An MBA In Finance From Australia
Studying an MBA in Finance in Australia has a cost associated with it for international students. Notably, overseas students will spend around AUD 40,000 to AUD 100,000 per year. However, considering differences in norms and rules, the actual cost may vary from institute to institute. Additionally, the cost of living in Australia may go up to 21,000 AUD.
Understand the table below to get insight into the average cost of studying in Australia.
| Name of the University | Average Cost (in INR) | Average Cost (in AUD) |
| Western Sydney University | 18 lakhs | 35,016 |
| University of South Australia | 23 lakhs | 43,800 |
| Bond University | 37 lakhs | 70,170 |
| Flinders University | 20 lakhs | 39,400 |
| University of Newcastle | 21 lakhs | 40,330 |
| University of Tasmania | 35 lakhs | 67,664 |
Scholarships For MBA In Finance In Australia
International or Indian students can avail themselves of multiple scholarships to manage the cost of study in Australia. There are different types of scholarships, and international students can receive the benefits per the rules guiding the scholarship. Hard work and effort will be rewarded after the student completes post study work in Australia by the end of their placements!
For details on scholarships and benefits for Indian students, take help of the table here:
| Scholarship Name | Value |
| South Asia Excellence Scholarship | 10,000 per year |
| Transformer Scholarship | 50% tuition fee waiver |
| Western Sydney International Scholarships | 6,000 per year |
| Global Scholarships | 20% tuition fee waiver |
| MBA Merit Scholarship (Dean of Business and Economics) | 50% tuition fee waiver |
| Vice Chancellor’s International Excellence Scholarship | 50% tuition fee waiver |
| 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 |
| Global Reach Scholarship along with Excellence Scholarship | Value keeps Varying |
Exams To Appear For To Get Admitted Into An MBA
Candidates must fulfil several key requirements to gain admission to an MBA programme in Australia. Firstly, they must achieve a satisfactory score on the GMAT (Graduate Management Admission Test), with most universities setting a minimum score ranging from 550 to 650. For top-tier MBA programmes, the average GMAT score required is approximately 590.
- In addition to the GMAT, international students whose native language is not English must demonstrate proficiency in English by taking exams such as IELTS or TOEFL. The required scores for these English proficiency tests vary by university but generally fall within the range of IELTS 6.5 to 7.0 or TOEFL 79 to 100.
- Most MBA programmes in Australia mandate candidates to possess 3-5 years of relevant work experience. While some universities may consider applicants with less experience, a substantial professional background is typically preferred.
The primary admission criteria for an MBA in Australia include a competitive GMAT score, evidence of English language proficiency, and significant work experience. It’s important to note that these requirements may differ among universities in Australia.
Common Job Profiles For MBA In Finance In Australia
MBA graduates in Australia are in high demand. According to Australian Government data, the annual recruitment of MBA Finance professionals is around 6,000. After completing a programme in Australia, such as an MBA in Finance, one can make around 1,32,793 AUD per year. Permanent residency in Australia is another mouthwatering element for students in Australia. This can be achieved by applying for a permanent visa after finding a job in this field.
Here are some of the common job profiles for MBAs in Australia below:
- Financial Advisor – Aids enterprises assess feasibility, devise plans, and enhance profitability approaches.
- Investment Banker – Facilitates companies in securing funds through stock and bond issuance, as well as through acquisitions and mergers.
- Investment Analyst – Assesses financial and investment data to offer insights on purchasing, selling, and retaining bonds, stocks, and options.
- Analytics Manager – Designs strategies for data analysis and reporting to bolster data-centric decision-making across various departments like sales and marketing.
- Finance Manager – Provides counsel to top management on strategies for profit generation, ensures effective financial management, and spearheads forecasting endeavours.
- Management Consultant – Strategies and counsels enterprises to resolve organisational challenges, enhance value, and uplift business performance.
- Strategy Manager – Evaluate an organisation’s operations to pinpoint strengths, weaknesses, and avenues for improvement.
- Product Manager – Shapes product strategies by aligning design with customer demands, aiming to develop impactful products.
- Commercial Manager – Oversees budgeting, procurement, and cost management for diverse projects.
MBA In Finance Salary
Based on several reports and recruitment sites, here is a detailed table of the average annual salaries for MBA graduates in finance-related roles in Australia:
| Job Title | Average Annual Salary (AUD) | INR Equivalent |
| Finance Manager | $103,010 | ₹55.82 lakhs |
| Accounting Manager | $95,237 | ₹51.60 lakhs |
| Supply Chain Manager | $102,302 | ₹55.43 lakhs |
| Management Consultant | $95,150 | ₹51.56 lakhs |
| Human Resources Manager | $96,689 | ₹52.39 lakhs |
Here are some insights into the salaries of some top recruiters of MBA graduates in Australia:
| Recruiter | Average Annual Salary (AUD) | INR Equivalent |
| JP Morgan | $101,983 | ₹55.26 lakhs |
| Macquarie Group | $109,353 | ₹59.25 lakhs |
| Goldman Sachs | $70,944 | ₹38.44 lakhs |
| Morgan Stanley | $99,322 | ₹53.82 lakhs |
| KPMG | $99,000 | ₹53.64 lakhs |
| Rio Tinto | $109,448 | ₹59.30 lakhs |
This indicates that MBA graduates in finance-related roles in Australia can expect to earn average annual salaries ranging from around ₹51 lakhs to ₹59 lakhs, with top recruiters offering even higher compensation.
Procedure For Admission In MBA Finance In Australia
Following a set procedure can help students in ensuring hassle-free admissions. Students can also reach out to UniScholars for help in the application process.
- The first step in initiating an admission process is to enlist some of the best universities and colleges in Australia to study for an MBA.
- Check for intakes in Australia and the application deadline.
- Apply for admission online through the university’s official portal or request an application form through post.
- After applying, appear for the interview rounds per university/college norms.
- Once the interview is done, wait for the acceptance letter.
- Finally, complete the process by applying for a student visa and preparing for departure.
FAQs
How Good Is Australia For Doing An MBA In Finance?
Enrolling for an MBA in finance in Australia means good job opportunities and professional development. Home to some of the globally ranked universities and colleges, Australia is one of the best destinations to study MBA.
Which MBA Has The Highest Demand In Australia?
An MBA in finance is in high demand in Australia. Other high-demand MBAs are in Healthcare, Entrepreneurship, Human Resources, and Management.
What Is An Estimated Salary For an MBA In Finance In Australia?
With earnings of around 1,32,793 AUD per year, MBA finance in Australia offers the best salary slabs. Significant companies are hiring MBA finance-qualified individuals to assist in managing business expenditures and help in financial decisions.
Is MBA In Australia Worth It For Indian Students?
Indian students can apply for multiple scholarships and post-study visas in Australia. They can also become future-ready by doing an MBA in Finance from Australia, as the country offers huge career potential for MBA graduates.
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