Master of Finance in Australia: Full Guide for Saudi Students

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Australia offers the chance to study a Master of Finance at globally recognised universities such as Melbourne, UNSW and Sydney. Admission requirements combine an academic background in finance or accounting with an English language test, and sometimes the GMAT or GRE. You can fund your studies through the Emdad scholarship pathway, the Australian government’s Australia Awards, or self-funding.

What are the best Australian universities for a Master of Finance?

There is no single official ranking of "best" universities, but the University of Melbourne and the University of New South Wales (UNSW) are among the leading options, each publishing clear admission data and rankings specifically for their Master of Finance programmes.

The University of Melbourne describes itself as number 1 in Australia for business and economics, and number 24 globally in accounting and finance — University of Melbourne. UNSW’s business school is ranked number 1 in Sydney for business according to the QS World University Rankings by Subject 2026, and the university sits within the global top 30 for accounting and finance — UNSW Sydney.

Alongside these two, the University of Sydney and the Australian National University (ANU) are well-known destinations for finance studies in Australia, although the details of their programmes and admission requirements need to be checked directly on each university’s website before applying.

University	Known for	Important note
Melbourne	#1 in Australia for business, #24 globally for finance	Requires a finance major within your bachelor’s degree
UNSW Sydney	#1 in Sydney for business, global top 30	One-year or two-year pathway depending on your background
Sydney	One of Australia’s major universities	Check admission requirements directly on the university’s website
ANU	A well-known research university in Canberra	Check admission requirements directly on the university’s website

What are the admission requirements for a Master of Finance?

Requirements vary between universities, but they share two common points: an academic background relevant to finance or accounting, and a specific English language test score. See Master’s Admission Requirements in Australia: GPA, Language, Experience and Conversion Majors for a general overview before getting into each university’s specific details.

University of Melbourne requirements

The Master of Finance at Melbourne requires completion of a bachelor’s degree with a major in finance, including mandatory foundation subjects in corporate finance, investments and financial derivatives — University of Melbourne. The university’s academic handbook also requires a GMAT or GRE, unless the applicant is a graduate of an Australian or New Zealand university or meets an approved exemption condition — University of Melbourne Handbook.

Regarding the IELTS score, the current course page on the university’s website shows a minimum overall score of 6.5 with no band below 6.0 — University of Melbourne, while the university’s academic handbook states a minimum overall score of 7 with no band below 6.5 — University of Melbourne Handbook. This discrepancy may be due to a difference between the handbook version and your intake year, so confirm the exact figure applicable to your intake year directly with the university. For more on language requirements generally, see English Language Requirements for Saudi Scholarship Students in Australia (IELTS, PTE, TOEFL).

UNSW Sydney requirements

The Master of Finance at UNSW offers two pathways: a two-year pathway for holders of any bachelor’s degree with a GPA of 65% or higher, and an accelerated one-year pathway for those with a finance minor within their bachelor’s degree — UNSW Sydney. This means students coming from a non-finance background still have an opportunity, but with a longer study duration.

Does the Saudi scholarship cover a Master of Finance and Banking?

Yes, through the Emdad pathway, which covers the field of business, administration and law, and the finance and banking specialisation falls within it. Royal approval was issued in 2005 to launch the scholarship programme, sending students to pursue postgraduate studies that meet labour market needs — Ministry of Education.

Emdad pathway: available Australian universities for business and finance

In the field of business, administration and law under the Emdad pathway, the approved list for the 2026–2027 academic year includes five Australian universities: Sydney, Monash, UNSW, RMIT and Macquarie — Ministry of Education. The pathway requires admission to come from one of the top 200 institutions on the programme’s list, that the offer be final and unconditional, and that the study mode be on-campus — Ministry of Education. For full details of this pathway’s requirements, see The Emdad Scholarship Pathway: Requirements, Majors and Australian Universities.

Note that the University of Melbourne does not currently appear on the Emdad list for business and administration. If Melbourne is your first choice, you may need to apply self-funded or through another pathway, after checking the latest updates to the lists with the Ministry of Education.

Why doesn’t a Master of Finance appear under the Ruwad pathway?

The Ruwad pathway covers all majors for bachelor’s and master’s degree holders within the top 30 institutions on the programme’s list, but this list does not currently include any Australian university — Ministry of Education. This means a student wanting to study finance in Australia specifically through a government scholarship should pursue Emdad, not Ruwad. For a full comparison between pathways, see Comparing Saudi Scholarship Pathways: Ruwad, Emdad, R&D and Waad.

What is the Australia Awards government scholarship?

This is an Australian government scholarship that fully covers tuition fees, a return airfare, an initial establishment allowance, a contribution towards living costs, a pre-course academic programme, and health insurance for the duration of the award — Australian Embassy. The scholarship requires applicants to be at least 25 years old at the start of the programme, and to have at least 5 years of professional experience after graduation in a field relevant to the study programme — Australian Embassy. This makes it a suitable option for someone already working in the finance or banking sector who wants to develop their career, rather than for a recent graduate.

What are the student visa requirements for studying finance in Australia?

After receiving an unconditional offer, you’ll need a student visa (subclass 500), which requires a Confirmation of Enrolment (CoE) from a CRICOS-registered institution, meeting English language requirements, Overseas Student Health Cover (OSHC), proof of financial capacity, and meeting the Genuine Student requirement set by the Australian Department of Home Affairs. For full details, see Australian Student Visa (Subclass 500): Requirements, Fees and Processing Time.

In 2026, the required proof of financial capacity for the primary applicant was raised to approximately AUD 29,710 per year (a figure verified at the time this guide was prepared), alongside stricter enforcement of the Genuine Student requirement — verify the current figure directly with the Australian Department of Home Affairs before applying.

If you are a scholarship student under the Emdad pathway, remember that the Saudi Cultural Mission in Australia requires strict adherence to the major, educational institution and study level specified in your scholarship decision, and these cannot be changed except with approval from the scholarship authority and the Cultural Mission — Saudi Cultural Mission in Australia.

Steps to apply for a Master of Finance in Australia

1. Review your first university degree: if it includes sufficient finance or accounting subjects, this opens the door to an accelerated admission pathway at universities like UNSW.
2. Prepare the English language score required by each university, and check for discrepancies between the course page and the university’s academic handbook.
3. Confirm whether the university requires a GMAT or GRE, or whether you meet an exemption condition.
4. If you plan to pursue a government scholarship, check whether the university is included on the Emdad pathway list for business, administration and law for the academic year you are applying in.
5. After receiving a final, unconditional offer, apply for your student visa (subclass 500).
6. Prepare proof of financial capacity and Overseas Student Health Cover (OSHC) ahead of your visa appointment.

KD International offers a free admissions service for students wishing to enrol in majors covered by scholarship programmes, at universities approved by the Ministry of Education, and helps you compare options such as Melbourne, UNSW and Sydney according to your major and scholarship pathway.

If you’re still at the early stages before choosing a university or major, start with University Admission in Australia for Saudi Students: The Complete Step-by-Step Guide to understand the full pathway from application to visa.

Frequently asked questions

Official sources

• Master of Finance – Entry Requirements — University of Melbourne
• Master of Finance – Handbook — University of Melbourne
• Master of Finance — UNSW Sydney
• مسار إمداد — وزارة التعليم السعودية
• مسار الرواد — وزارة التعليم السعودية
• برنامج الابتعاث — وزارة التعليم السعودية
• ضوابط الابتعاث العامة — الملحقية الثقافية السعودية في أستراليا
• Australia Awards – Study — السفارة الأسترالية

Last updated: 11 October 2026. Fees and requirements change; always confirm with the official source before deciding.