MS in Finance in Australia
Table of Content
- Introduction
- Top Australian Universities for MS in Finance
- Admission Requirements & Application Process
- Scholarships & Financial Aid
- Living in Australia
- Career Prospects
- Preparing for your Journey
- Conclusion
- Additional Tips
- Additional Information
Introduction
Are you considering pursuing an MS in Finance in Australia? For students from Bangalore and Karnataka, studying in Australia offers a wealth of opportunities. Known for its world-class education system, Australia provides a dynamic environment where you can enhance your financial expertise while experiencing a vibrant culture.
Why Study MS in Finance in Australia?
Australia is home to some of the world’s top universities, renowned for their finance programs. By choosing to study here, you gain access to cutting-edge research, state-of-the-art facilities, and a curriculum that’s aligned with global financial trends. Australian universities also emphasize practical learning, offering internships and industry connections that can give you a competitive edge in the job market.
For Bangalore and Karnataka students, studying in Australia can be a life-changing experience. You’ll be part of a diverse international community, which not only broadens your perspective but also enhances your global network—an invaluable asset in the finance industry.
Key Benefits:
- Global Career Opportunities: Australia’s thriving financial sector, coupled with its strong international connections, offers ample opportunities for graduates. Common job roles include financial analysts, investment analysts, risk analysts, corporate finance analysts, and accounting/auditing positions. Experienced professionals can aspire to roles like financial managers, investment bankers, portfolio managers, risk managers, and financial consultants.
- Cultural Familiarity: The multicultural landscape of Australia, especially in major cities, fosters a sense of familiarity for students from Karnataka. The presence of a significant Indian community can make the transition smoother.
- High Quality of Life: Australia consistently ranks among the world’s most livable countries, offering a safe, clean,and culturally vibrant environment. This high quality of life can significantly enhance your overall study experience.
Salary Prospects:
- Fresh Graduates: While salaries can vary, fresh graduates can generally expect to earn between ₹33,88,000 and ₹45,17,000 per year.
- Experienced Professionals: With experience, salary packages can increase to ₹62,10,000 – ₹79,05,000 or more,depending on factors like job role, company size, and location. (Reference: https://www.seek.com.au/international-finance-jobs)
Educational Statistics:
- Student Visa Arrivals: The number of student visa arrivals in Australia has been steadily increasing, with nearly over 110,000 Indian students currently studying at Australian universities. Students from Karnataka / Bangalore form a decent portion of this cohort. (Source: https://www.education.gov.au/international-education-data-and-research/international-student-numbers-country-state-and-territory)
- Top Universities: Australia is home to several world-renowned universities offering top-tier finance programs.
Don’t forget: To study in Australia, clearing the IELTS exam is crucial. Our IELTS coaching programs in Bangalore are designed to help you achieve the required score. Explore our IELTS course books that cater to different preparation needs, from 3-month plans to last-minute strategies.
Top Australian Universities for MS in Finance
(As on Aug 2024)
Sl No | University Name | Location | Duration of the Course | Tuition Fee in Indian ₹ per year | Admission Requirements |
1 | Sydney | 12 Months | ₹21,46,000 | *IELTS *2 LORs *SOP *CV/Resume *Transcripts *High School Certificates *Photo ID *Passport *Note: At least 7 Finance related courses in UG Course | |
2 | Melbourne | 18 Months | ₹34,44,300 | *IELTS *GMAT?GRE *2 LORs *SOP *CV/Resume *Transcripts *High School Certificates * Photo ID * Passport *Note: Should meet Subjects Criteria | |
3 | Sydney | 18 Months | ₹33,20,200 | *IELTS *GMAT (630+) *2 LORs *SOP *CV/Resume *Transcripts *High School Certificates *Photo ID *Passport | |
4 | Melbourne | 12 / 18 Months | ₹29,92,800 | *IELTS *2 LORs *SOP *CV/Resume *Transcripts *High School Certificates *Photo ID *Passport | |
5 | Canberra | 24 Months | ₹26,36,100 | *IELTS/TOEFL *2 LORs *SOP *CV/Resume *Transcripts *High School Certificates *Photo ID *Passport *Assessment of Qualification | |
6 | Brisbane | 12 Months | ₹30,35,700 | *IELTS/TOEFL *GMAT – 550+ *2 LORs *SOP *CV/Resume *Transcripts (Relevant Disciplines) *High School Certificates *Photo ID *Passport *Relevant Work Exp | |
7 | Haymarket | 18 Months | ₹28,77,700 | *IELTS/TOEFL *2 LORs *SOP *CV / Resume *Transcripts *High School Certificates *Photo Id *Passport | |
8 | Melbourne | 24 Months | ₹26,02,200 | *IELTS/TOEFL *2 LORs *SOP *CV / Resume *Transcripts *High School Certificates *Photo ID *Passport | |
9 | Burwood | 12 / 18 / 24 Months | ₹18,41,200 | *IELTS/TOEFL *2 LORs *SOP *CV / Resume *Transcripts *High School Certificates *Photo ID *Passport | |
10 | Sydney | 18 Months | ₹28,06,600 | *IELTS/TOEFL *2 LORs *SOP *CV / Resume *Transcripts *High School Certificates *Photo ID *Passport |
Admission Requirement & Application Process
Eligibility Criteria for Students from Bangalore and Karnataka
To be eligible for MS in Finance programs in Australia, you typically need:
- A bachelor’s degree in finance, economics, business, or a related field.
- A competitive GPA, usually around 7.0+ on a 10-point scale.
- English language proficiency, proven by an IELTS score of 6.5 or higher.
(Don’t let this hurdle hold you back! We at Reknown Edu Services understand the importance of acing the IELTS. That’s why we offer a range of IELTS coaching programs designed to help students from Bangalore and Karnataka achieve their desired scores.)
For students from Bangalore and Karnataka, additional factors such as work experience, internships, and extracurricular activities can strengthen your application.
Application Deadlines and Important Dates
Applying to Australian universities requires careful planning, especially with the application deadlines. Most universities offer two main intakes for international students:
- February/March Intake (Semester 1): The primary intake, with deadlines typically ranging from October of the previous year.
- July Intake (Semester 2): A secondary intake, with application deadlines between April.
It’s important to start your application process early—ideally 6-12 months in advance. This gives you time to gather required documents, prepare for standardized tests like the IELTS, and complete university-specific application forms. Make sure to check the exact dates on the respective university websites.
Required Documents and How to Prepare Them
When applying for an MS in Finance program, you will need the following documents:
- Academic Transcripts / High School Certificates: Official transcripts from your undergraduate program & school translated into English if needed.
- Proof of English Language Proficiency: An official IELTS score report or equivalent test score.
- Statement of Purpose (SOP): A personal statement outlining your motivations for studying finance, your career goals, and why you are interested in the specific university.
- Letters of Recommendation: Two or three letters from professors or employers who can vouch for your academic abilities and professional skills.
- Resume/CV: A detailed resume highlighting your academic background, work experience, internships, and extracurricular achievements.
- Passport Copy: A valid passport that will cover the entire duration of your studies.
Pro tip: Students from Bangalore and Karnataka can seek guidance from education consultancies to review SOPs and ensure that their applications stand out. We have helped many students get admissions into their dream university. Thus, if you seek any guidance to make it to such universities contact us now!
Scholarships & Financial Aid
Scholarships for Students from Bangalore/Karnataka
Financing your education in Australia can be a challenge, but many scholarships are available, particularly for students from Karnataka. Some common scholarship opportunities include:
- Karnataka State Government Scholarships: These scholarships are often geared towards merit-based students, minority students, and economically weaker sections.
- National Overseas Scholarship (NOS): A central government initiative that provides financial support to students from India who wish to pursue a master’s degree abroad.
Check this website for eligibility criteria and application details. ([https://www.buddy4study.com/article/karnataka-scholarships])
In addition, many Australian universities offer their own merit-based and need-based scholarships for international students.
University-Specific Scholarships
Each university in Australia offers its own set of scholarships for international students, which can significantly reduce the financial burden of studying abroad. Some notable scholarships include:
- University of Melbourne offers more than 1200 scholarships to deserving international students in the form of prizes, bursaries & grants.
- The University of Sydney offers scholarships to high-achieving students with exceptional academic performance regardless of the course they apply to.
- Monash International Leadership Scholarship (Monash University): Open to students who demonstrate leadership qualities in addition to academic excellence.
Be sure to explore the scholarship sections on university websites for the most up-to-date information and application requirements.
State Government and Private Scholarships from Karnataka
Students from Karnataka may also be eligible for various private and state-government-backed scholarships aimed at encouraging higher education abroad. For example:
- Karnataka Government’s Vidyasiri Scheme: Offers financial aid to students from minority backgrounds.
- Private Trust Scholarships: Many private foundations, such as the Narotam Sekhsaria Foundation, offer funding for postgraduate studies abroad.
Financial Aid Options Specific to Bangalore/Karnataka Students
If scholarships aren’t enough, don’t worry! There are other financial aid options available:
Educational Loans: Several banks and financial institutions offer education loans with competitive interest rates.
Government-Backed Loans: Explore government-backed loan schemes that provide financial support for higher education.
- Nomad Credit
- Karnataka Government Overseas Education Loan
- Karnataka Bank Loan
- Karnataka Prabuddha Scheme
- HDFC Credila
Living in Australia
Cost of Living and Accommodation Options
Living expenses in Australia vary depending on the city you choose to study in. On average, students need about ₹11,39,600 to ₹15,38,200 per year for living expenses, including accommodation, food, transportation, and other personal costs.
- Accommodation Options: Most universities offer on-campus housing, but many students choose to rent shared apartments off-campus. Rent costs can range from ₹9,500 to ₹26,600 per week, depending on location and type of accommodation.
- Food and Transportation: Costs for food and transport are relatively reasonable, with meal plans and student discounts available on public transportation in many cities.
Cultural Adjustment and Support Services
Australia is known for its welcoming and multicultural environment. However, adjusting to life in a new country can be challenging, particularly for students from Karnataka who may experience differences in language, food, and social norms.
Fortunately, most Australian universities offer extensive student support services such as:
- Orientation Programs: These help international students adapt to university life and the local culture.
- Counseling Services: Mental health and well-being support is available on most campuses to help students navigate the emotional challenges of studying abroad.
- Academic Support: Tutoring, study workshops, and writing centers can help students adjust to the academic rigor of Australian education.
Connecting with the Kannada Community in Australia
A Warm Welcome from Fellow Kannadigas
Australia has a thriving Indian community, and within it lies a vibrant Kannada diaspora. Cities like Sydney and Melbourne are home to numerous Kannada associations that offer a sense of belonging and support to newcomers. These associations organize cultural events, festivals, and social gatherings, providing a platform to connect with fellow Kannadigas and celebrate your heritage.
Popular Kannada Groups in Australia
Here are a few prominent Kannada groups in Australia:
- Kannada Sangha Melbourne: This organization hosts a variety of cultural events, including Ugadi and Diwali celebrations, networking opportunities, and workshops on Kannada language and culture.
- Sydney Kannada Sangha: Similar to its Melbourne counterpart, this group aims to preserve and promote Kannada culture while providing support to new arrivals in Sydney.
- Western Australia Kannada Sangha: The Western Australia Kannada Sangha organizes cultural events, language classes, and community outreach programs in the Western Australian capital.
Student Life and Extracurricular Activities
Australian universities offer a wide range of extracurricular activities that can enhance your academic experience and social life. Here are some popular options:
- Finance and Investment Clubs: If you’re interested in finance and business, joining a finance club can provide valuable opportunities to learn about investment strategies, participate in stock market simulations, and network with industry professionals.
- Cultural Clubs: Indian student associations often organize cultural events, festivals, and social gatherings that allow you to connect with other Indian students and celebrate your heritage.
- Sports Clubs: Whether you’re passionate about cricket, soccer, or other sports, joining a university sports club is a great way to stay active, meet new people, and represent your university in competitions.
- Academic Societies: Engaging in academic societies related to your field of study can help you connect with like-minded students, explore research opportunities, and develop your academic skills.
Career Prospects
Job Market for MS in Finance Graduates in Australia
Australia’s dynamic finance industry offers a plethora of opportunities for MS in Finance graduates. With a degree from a reputable Australian university, you’ll be well-equipped to pursue roles such as:
- Financial Analyst: Analyze financial data, prepare reports, and provide recommendations to businesses.
- Risk Manager: Assess and mitigate financial risks for organizations.
- Portfolio Manager: Manage investment portfolios for individuals or institutions.
- Investment Banker: Facilitate mergers, acquisitions, and other financial transactions.
- Corporate Finance Specialist: Provide financial advice and support to corporations.
Sydney and Melbourne: Financial Hubs
Sydney and Melbourne, as major financial centers, offer a wealth of opportunities for internships and full-time positions in the finance industry. These cities attract leading financial institutions, providing graduates with exposure to a diverse range of roles and sectors.
Work Visa and Immigration Information
After completing your MS in Finance, you can apply for a Temporary Graduate Visa (subclass 485), which allows you to stay and work in Australia for up to 2-4 years, depending on your qualifications. This visa provides a valuable opportunity to gain work experience and explore permanent residency options.
To increase your chances of securing permanent residency, it’s essential to gain relevant work experience in your field and demonstrate proficiency in English. This can be achieved through internships, part-time jobs, or full-time employment.
Success Stories of Graduates from Bangalore/Karnataka
Numerous students from Bangalore and Karnataka have successfully transitioned into the Australian job market after completing their MS in Finance. Their stories showcase the opportunities available for international graduates:
- Savitha: After graduating with an MS in Finance from the University of Sydney, Savitha secured a prestigious position as a financial analyst at a leading consulting firm in Sydney. Her strong academic background, prior Indian work experience and adaptability allowed her to excel in landing a competitive job.
If you want to fly to Australia and land your dream job like Savitha did, you can check out Our Services page and Whatsapp us today.
Preparing for your Journey
Key Documents and Preparations
- Student Visa (Subclass 500): Confirm the validity of your student visa and ensure all required documents are in order.
- Accommodation Arrangements: Finalize your accommodation arrangements, whether it’s on-campus housing or off-campus rentals.
- Health Insurance (OSHC): Ensure you have purchased and activated your Overseas Student Health Cover (OSHC) before departure.
- Travel Documents: Gather your passport, visa, offer letter, and travel itinerary. Make photocopies or digital backups for safekeeping.
- Currency and Banking: Open a student bank account in Australia and have some Australian dollars ready for initial expenses.
Packing Essentials
- Climate-Appropriate Clothing: Pack for both warm and cooler weather, as Australia’s climate can vary.
- Personal Electronics: Bring your essential electronics and adapters.
- Medications: Pack any necessary medications with prescriptions.
- Essentials: Don’t forget items like toiletries, a first-aid kit, and any other personal items you’ll need.
Important Contacts
- University International Student Office: Save their contact information for any queries or assistance.
- Accommodation Provider: Have their contact details readily available.
- Local Embassy or Consulate: Keep the contact information of the Australian embassy or consulate in your home country.
Arrival and Settling in Australia
A Smooth Transition to Your New Home
Upon arriving in Australia, follow these steps to ensure a seamless transition:
- Airport Pickup: If your university offers airport pickup services, arrange this in advance for a convenient arrival.
- Orientation: Attend your university’s orientation program to familiarize yourself with the campus, meet fellow international students, and learn about academic resources, student services, and cultural integration.
- Set Up a Local SIM Card: Purchase a local SIM card to stay connected with your friends, family, and university.Major providers like Optus, Telstra, and Vodafone offer student-friendly plans.
- Public Transportation: Familiarize yourself with the local public transportation systems, such as buses, trains, and trams. Many cities offer student discounts on these services.
Maximizing Your Australian Experience
- Explore Australia: Take advantage of semester breaks to explore the country’s diverse landscapes. From the stunning Great Barrier Reef to the rugged Outback, Australia offers endless opportunities for adventure.
- Networking: Build a professional network by attending career fairs, finance workshops, and networking events.Australian universities often have strong industry links, providing valuable internship opportunities and placements.
- Stay Connected with Home: While adjusting to a new country can be challenging, staying connected with friends and family from Karnataka can help you maintain a sense of belonging and support.
Conclusion
Pursuing an MS in Finance from a top Australian university is a strategic decision for students from Bangalore and Karnataka. Australia’s robust economy, coupled with its diverse culture and welcoming environment, makes it an ideal destination for higher education.
By carefully researching your options, preparing your application well in advance, and exploring scholarship opportunities, you can make your dream of studying finance in Australia a reality.
Australia offers not only academic excellence but also a vibrant student life and ample opportunities for personal and professional growth. Whether your goal is to work in Australia after graduation or return to India with valuable international experience, an MS in Finance from an Australian university will equip you with the skills and credentials to thrive in the world of finance.
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Additional Tips
Language Preparation: Learning Australian English
While Australia is an English-speaking country, it has its unique slang and accent that may take some time to adjust to.Here are a few tips to help you navigate Australian English. Brush Up on Australian Slang!
Health Insurance and Medical Care in Australia
As an international student, you’re required to have Overseas Student Health Cover (OSHC) for the duration of your stay.
Part-Time Job Opportunities for Students from Bangalore/Karnataka
While studying in Australia, international students can work part-time (20 hrs/week) to support themselves financially
Study Guides for Bangalore / Karnataka Students
At Reknown Edu Services, we understand that selecting the right program in Australia for your studies is crucial. To assist students from Karnataka and Bangalore, we’ve curated a comprehensive collection of blog articles serving as study guides for various programs. These resources provide in-depth information on universities, admission processes, scholarships, and student life, helping you make informed decisions. Check out:
Additional Information
Travel Tips: Book your flights early to get the best deals, and consider travel insurance to cover any unexpected delays or cancellations.
Flights: Bangalore offers multiple flight options to major Australian cities like Melbourne, Sydney, Canberra, Brisbane & Adelaide. Booking in advance can help you secure the best deals. Here are the best websites for your reference
Why Reknown Edu Services® Stands Out in Bangalore
With over a decade of experience in helping students achieve our dreams of studying abroad, Reknown Edu Services® is a trusted choice for personalized and professional guidance. Our dedicated team in Bangalore understands the unique requirements of students from Karnataka and the challenges they face while preparing for overseas education.
📍 Visit Us at: Indiranagar, Bangalore
📞 Call / WhatsApp Us at: +91-9035366635
✉️ Email Us at: info@reknownedu.com
6 Responses
How good is risk Management in Australia? It is not exactly like Finance but something similar on the same lines. How good are job opportunities can you help me with that so that I cna take the decision?
Hello Ankit,
If you want to get on a call with us, we can get you answers to all your questions. Please contact us on whatsapp.
Given the current circumstances with increasing visa rejections, do you still think studying in Australia is a good option?
Hello Quyumm,
The decision to study in Australia, despite increased visa rejections, is a complex one. You need to know why visa rejections happen in the first place: The strength of the application, the academic and financial credentials, and the genuine intent to study. On the contrary, Australia is renowned for its world-class universities and research facilities. Australia provides opportunities for international students to gain work experience after completing their studies. Ultimately, this decision should be based on your individual circumstances, goals, and risk tolerance. If you want to apply to the good universities with the right kinda programs contact us on whatsapp now!
Cheers
Hey team,
I see that most of the universities have more or less the same requirements. I am in my final year of BCom (Finance), after reading this blog I really think it is safer bet if I have at least 2 years of work experience if ROI is what I am concerned about. But, if my long term goal is to get Australia PR, is it good to pursue MS now or after 2 years of Work exp?
Hello Aanchal,
Honestly, if job in Australia is what you are really concerned about, we would strongly recommend you to have work exp here in India and then go to Australia. You will have better advantages.
1. If you start earning you can support some expenses of your education on your own (if you save some amount here from your salary in India)
2. You will have gained some real time corporate experience, which is very valuable to the Australian employers.
3. This work experience will add value when you apply for PR.
4. Work experience will help you choose better course for your higher education (you will know practically what you lack and where you are headed in near future).
5. And many more…
Best of luck for your future.