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The finance industry is competitive, and having a Master's in Finance (MFin) can give you an edge. In this blog, "Understanding the Cost of Pursuing a Master of Finance in Australia," we’ll discuss the Mfin in australia cost and the extensive career opportunities it brings. From core modules to elective courses, learn why an MFin is a smart investment for your future in finance.
Cost of MFin in Australia
When considering a Master of Finance (MFin) in Australia, understanding the cost is crucial for planning. Australian universities are renowned for their world-class finance programs, but tuition fees and living expenses can vary significantly. On average, the tuition fees for an MFin programs at top Australian universities range from AUD$ 44,000 to AUD$ 77,000 per year.
Additionally, international students should budget for living expenses, which are typically around AUD 20,000 to AUD 25,000 annually. Below is a table providing a cost overview for some of the top Australian MFin colleges:
| Schools and Courses | Location | Program Highlights | Course Fee |
| University of Sydney -MFin | Sydney | Comprehensive finance training, strong industry ties | A$53,000 – A$56,500 |
| University of Melbourne -MFin | Melbourne | Diverse specialization options, excellent faculty | AUD$77,684 |
| Monash University- MFin (Applied Finance) | Melbourne | Focus on Applied Finance, practical learning | A$53,000 |
| Australian National University (ANU)- MFin | Canberra | Research-oriented, access to global networks | $46,680.00 |
| RMIT University- MFin | Melbourne | Industry-relevant curriculum, urban setting | $44,160.00 |
| Curtin University- MFin | Perth | Innovative finance programs, supportive environment | NA |
These estimates provide a snapshot of what to expect financially when pursuing an MFin in Australia. By planning ahead and considering both tuition and living expenses, prospective students can make informed decisions and effectively manage their finances while studying in one of the top Australian finance programs.
1. University of Sydney
In the Finance specialization, students have the flexibility to select elective courses that align with their individual experiences and career goals. The program covers a broad spectrum of important finance areas, including corporate valuation, derivative securities, and risk management. Students can also explore elective topics such as mergers and acquisitions, portfolio theory, and banking, providing a thorough and tailored education that prepares them for various finance roles.
- Program Duration: 1.5 years
- Tuition Fees: A$53,000 – A$56,500
- Highlights: Specialization in finance with elective courses in corporate valuation, risk management, and more.
2. University of Melbourne
Melbourne Business School’s Master of Finance provides a specialized education that goes beyond undergraduate level, focusing on advanced financial skills. The program’s CFA Institute accreditation confirms its quality and relevance, making it an excellent choice for those aiming to advance their careers in the finance industry.
- Program Duration: 18 months
- Tuition Fees: AUD$77,684
- Highlights: CFA Institute accredited program offering deep technical expertise and diverse specialization options.
To dive deeper, see more here: Melbourne MFin program
3. Monash University
As a leading global institution, Monash University offers a Master of Applied Finance that covers financial markets, investments, and corporate finance comprehensively, all with a focus on managing the MFin in Australia cost. To dive deeper, see more here.
- Program Duration: 2 years
- Tuition Fees: A$53,000
- Highlights: Focuses on applied finance with a comprehensive understanding of financial markets and investments.
4. Australian National University (ANU)
At ANU University, the Master of Financial Management program teaches key skills in investment analysis, risk management, and financial strategy. The ANU MFin program of strong research focus and rigorous coursework ensure graduates are well-prepared for finance careers while making a smart investment in their education.
- Program Duration: 2 years
- Tuition Fees: $46,680.00
- Highlights: Research-oriented program with a strong focus on investment analysis and financial strategy.
5. RMIT University
RMIT University's program is designed to give students the expertise required to excel in the international business landscape. Graduates leave with valuable skills and are well-positioned for diverse career opportunities, earning recognition from employers for their excellent qualifications.
Learn more by visiting this link. RMIT MFin program
- Program Duration: 2 years
- Tuition Fees: $44,160.00
- Highlights: Industry-relevant curriculum designed for a global business landscape.
6. Curtin University
At Curtin University, the Master of Finance program prepares you for the future by teaching about new tech such as blockchain and robo-advisory. The program is designed with small classes and innovative methods, including interactive gaming, to make your learning experience unique.
- Program Duration: 1.5 years
- Tuition Fees: NA
- Highlights: Emphasis on innovative technologies like blockchain and robo-advisory services.
Tuition Fees for MFin Programs in Australia
Thinking about an MFin in Australia? If you're considering jobs after MS in Finance in Australia, you'll find that international students usually face tuition costs of AUD 30,000 to AUD 50,000 per year, while Australian students pay AUD 20,000 to AUD 40,000. Check each university’s website for the latest fee details.
| Student Type | Average Tuition Fee Range (AUD) | Details |
| Domestic Students | AUD 20,000 - AUD 40,000 | Fees for students who are Australian residents or those with permanent residency status. |
| International Students | AUD 30,000 - AUD 50,000 | Fees for students coming from outside Australia, typically higher due to non-resident status. |
MFin Scholarship Opportunities in Australia
Studying for an MFin in Australia can be costly, but scholarships can help. These scholarships offer financial support to students who excel academically and contribute to cultural diversity. They make your education more affordable and worthwhile.
International students can find MFin scholarships in Australia to support their studies. These scholarships help cover costs and reward academic success. Find out more about these opportunities here.
| Scholarship Name | Eligibility | Amount Covered |
| Australia Awards Scholarships | Citizens of eligible countries | Full tuition, living expenses, travel costs |
| UNSW Graduate Scholarships | International students, undergraduate degree | AUD 37,684 per annum, tuition, living allowance |
| University of Sydney International Scholarships | High achievers, financial hardship | Up to 50% of tuition fees |
| Australian Government RTP Scholarship | International students, research programs | AUD 40,109 per annum, tuition, health cover |
| Swinburne University Postgraduate Research Awards | Full-time research master's students | AUD 28,597 per annum, tax-free stipend |
As MFin tuition costs rise, college-based scholarships can ease the financial burden. Here’s a quick look at some available scholarships:
As MFin tuition fees increase, college-based scholarships can help reduce costs. Here’s a snapshot of available scholarships: For more details, visit A Deep Dive into the Masters in Finance Program.
Expense Categories
It is important to consider the tuition fees and additional expenses, including the MFin in Australia cost, that come along with pursuing a Master's degree in Finance. Understanding the cost involved can help you plan your finances effectively.
Location-wise
Living costs for international students in Australia vary by location. Cities like Sydney and Melbourne are more expensive, covering higher costs for housing, food, transportation, and entertainment. In contrast, Perth offers a more affordable lifestyle. When planning for an MFin in Australia, students should budget carefully and factor in the cost of living based on their chosen city.
| Location | Cost of Living(approx.) |
| Sydney | AUD 5,120 per month |
| Melbourne | AUD 4,175 per month |
| Brisbane | AUD 4,400 per month |
| Perth | AUD 3740 per month |
| Canberra | AUD 4,600 per month |
Additional Expenses
Apart from MFin Australia cost, there are other expenses that students need to consider when calculating the overall cost of studying a Master's degree in Finance:
| Expenses | Cost Range |
| Accommodation | On-campus: AUD 200-400 per week. Off-campus: AUD 150-300 per week. |
| Living Costs | AUD 400-600 per week. |
| Textbooks and Study Materials | AUD 500-800 per year. |
| Food and Grocery Expenses | AUD 105-320 per month. |
7 reasons to study Masters in Australia
Conclusion
Enrolling in an MFin program in Australia comes with its financial considerations, including tuition fees and living expenses. Understanding the MFin in Australia cost is key to planning your study abroad experience. The investment, though substantial, offers access to top-tier education and excellent career opportunities, making it a valuable step for your finance career.
