STUDY IN
australia

    MPA in Australia: Top Ranking Colleges, Eligibility, Fees, Salaries

    Bhavya Rawal logo

    Bhavya Rawal

    Study Abroad Expert

    Masters of Professional Accounting in Australia (MPA) is an Association of Chartered Certified Accountants accredited program best suited for students who want to make a career in Public Accounting, Corporate Accounting, and consulting. The total duration of pursuing the program from an Australian University may vary from 1.5 to 2 years with a cost of study raging between 28,000-50,000 AUD (~15 lakhs to 26 lakhs INR).

    Jobs offered to students holding masters in professional accounting degree in Australia pay as much as128,000 AUD (~68 LPA INR). The majority roles the students will play in the professional field after the Master's course are Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Certified Internal Auditor.

    Pursuing MPA in Australia will offer you an upper hand in staying back as it is listed in the skilled occupations list by the home affairs of the Australian government. Hence, improving your chances of finding a job and getting to stay back after completion of studies.

    Why Study Masters in Professional Accounting in Australia?

    • New job openings of around 84000 are expected to grow in the upcoming 5 years in the field with around 16,800 new jobs each year. 
    • With 7 of the Australian universities offering MPA ranking globally in the top 100 universities abroad, Australia can be considered a perfect study destination for the program. 
    • Apart from scholarships awarded by the universities in Australia, the Australian Government has invested over 300 million AUD in scholarships for international students
    • Melbourne, Sydney, Brisbane, Canberra, Adelaide, Perth, and the Gold Coast: The home of top universities is listed amongst the world’s top 100 student cities by QS Best Student Cities 2019.
    • The economics and finance sector of Australia offers an average salary package of 88,600 AUD. 
    • A growth of constant 3-4% has been observed in the salary trends of the sector from 2016 till 2019. This suggests that there is a constant rise in the demand for professionals who are being hired at better and cushy median salaries 

    MPA vs MAcc

    Criteria MAcc MPA
    Attestation Accounting does not provide Attestation services. Professional accounting provides Attestation Services.
    Job Roles The job roles of the CPA are not offered to a MAcc graduate. You can work as a CPA
    Salary Relatively lower salary Higher salary as an accountant
    Course Curriculum Theoretical approach Practical approach 

    Masters in Professional Accounting in Australia: Top Universities

    Given below are some of the top universities in Australia offering masters in professional accounting ar listed below with a basic detail of their tuition fees, program duration and intake seasons:

    QS 2020 Ranking University Duration Annual Tuition (AUD) Intake
    #29 Australian National University 1.5 47800 Feb and July.
    #42 University of Sydney 2 49000 March and July
    #43 University of New South Wales (UNSW) 1.5 35600 Feb and July.
    #58 Monash University 2 45800 March and July
    #47 University of Queensland (UQ) 2 44272 Feb and July
    #86 University of Western Australia (UWA) 1.5-2 42300 Feb and July
    #106 University of Adelaide 1.5 44000 Feb and July
    #140 University of Technology Sydney (UTS) 1.5 41136 Feb and July
    #207 University of Newcastle (UoN) 1.5 31,980 Feb and July
    #271 Deakin University 1.5 28600 March, July, Nov

    In case you are looking for a similar program to pursue, maters in accounting in Australia is one of the best alternatives to MPA courses in Australia. 

    Masters in Professional Accounting in Australia: Admissions

    The program is accredited by CPA Australia and the Institute of Chartered Accountants in Australia (ICAA). The admission procedure includes Graduates of any field are eligible to apply for admission to the Institute of Public Accountants (IPA). GMAT and GRE scores are not mandatorily required for entry into this course. 

    Masters in Professional Accounting in Australia: Eligibility 

    • For pursuing MPA courses in Australia, you are required to have a bachelor's degree in a relevant subject. Some universities offer admissions to students with a different bachelor’s degree may be offered admissions. 
    • Students with a bachelor's in a different subject are required to fulfill additional criteria. 
    • Language proficiency is an additional requirement that international students have to fulfill while planning to study abroad

    Tabulated below are the details of university-specific eligibility criteria for application to Australian universities:

    University Academic Requirement Additional Requirement Language Proficiency
    ANU UG with a GPA of 5.0 on a scale of 7.0 (83% or more) Reassessment of bachelor’s degree for international students TOEFL: 100
    IELTS: 7.0
    University of Sydney 60% in UG GMAT required (2019 class average 630) TOEFL: 96
    IELTS: 7.0
    UNSW 65% in UG If lower percentile, GMAT-600 TOEFL: 94
    IELTS: 7.0
    Monash University 60% in UG A statement detailing that they possess the academic skills required TOEFL: 79
    IELTS: 6.5
    UQ Bachelors in relevant field Country specific requirements may vary TOEFL: 87
    IELTS: 6.5
    UWA UG with 60% GMAT- 550 IELTS: 6.5
    TOEFL: 82
    60% in English Boards (ICSE/CBSE)
    University of Adelaide UG in relevant field Best of the three subjects are taken (excluding language) TOEFL: 79
    IELTS: 6.5
    UTS Relevant UG degree - IELTS: 6.5
    TOEFL: 93
    UoN Relevant UG degree UG in non-relevant subject, 1-year work experience IELTS: 6.5

    Documents Required

    Along with your application package for masters program, you are required to submit the following documents:

    1. Transcripts: Certificates and transcripts of previous studies. 
    2. Letters of Recommendations: LORs are an important part of your applications, academic LORs can make or break your applications. 
    3. ELP scores: Score of English proficiency tests like IELTS/TOEFL, etc required from non-native English speaking applicants. Test scores should be preferably submitted directly from the testing agency.
    4. Additional document requirements vary from university to university. Some of the additional documents that may be required include SOP/Personal Statement/CV, etc. 

    Please ensure that the applications are made on time and all the documents are submitted along with the applications before the deadlines approach. 

    Masters in Professional Accounting in Australia: Cost of Study

    The cost for an international student can be divided into Pre-departure; Study costs basically Tuition fee and Post-arrival basically living costs. These are detailed in the sections below:

    Pre-Departure Costs

    You will be required to spend a certain amount of money on application fees of universities, tests required for studying in Australia, . A glance at these costs can be taken from the table below:

    Expense Type Cost (AUD)
    Application Fees 50-100
    Australian Visa Fees 606
    Medical 106-120
    Health Insurance 450-600
    IELTS 282-300
    TOEFL 245-380
    PTE 280-300
    Air Travel 900-1700

    Masters in Professional Accounting in Australia: Tuition Fees

    The graphical illustration below represents the total program fees for masters in professional accounting in Australia. The overall cost ranges between 42,900 AUD to 98,000 AUD. This is equivalent to 20 lakhs to 47 lakhs for an Indian Student as per current exchange rate (May 2020)

    Total Program Fees V/S University

    It can be stated that the cost of pursuing the degree is highest in University of Sydney and lowest in Deakin University. With nearly similar admission requirements, it is suggested that students on budget should choose the university for pursuing the program wisely. 

    Cost of Living in Australia

    According to Australian Government requirements, students require 20,290 AUD annually on top of the university tuition fee to meet the living costs. It also suggests that an expense of 5 AUD to 440 AUD/week can be incurred for accommodation depending on the type and city. Some of the other living expenses in Australia are depicted below:

    The cost of accommodations for students in Australia is given below. The cost mentioned below are weekly costs. (AUD/week)

    • Hostels and Guesthouses – AUD 90 - AUD 150
    • Shared Rental – AUD 95 - AUD 215 
    • On-Campus – AUD 110 - AUD 280 
    • Homestay – AUD 235 - AUD 325 
    • Rental – AUD 185 - AUD 440
    • Boarding schools – AUD 11000 - AUD 22000 

    Masters in Professional Accounting in Australia with Scholarships

    The students when choosing a foreign country for higher education expenses are the first thought. Australian government and universities offer many scholarship programs for international students to choose from. Some of these are given below:

    University Scholarship Details In AUD
    University of Melbourne Melbourne Graduate Scholarship 25-50% tuition waiver
    Scholarships for specific Asian countries 10,000
    Dean's International Scholarship Full tuition waiver, & up to 60,000
    University of New South Wales UNSW International Scholarships 5000
    University of Adelaide Global Academic Excellence Scholarship 50% of Tuition Fees
    Global Citizens scholarship 15-30% of Tuition fees
    Deakin University Scholarship for Excellence 10,000/year
    Student Support Scholarship 10,000/year

    he Australian government and various other organizations also offer external grants and awards for meritorious students, which can be tapped through the international student’s office of the universities. Looking for more scholarships to study in Australia, click here to find out more.

    Masters in Professional Accounting in Australia: Scope

    Students who will graduate with a masters of professional accounting degree might get an opportunity in the future to work as an – Auditor, Management Consultant, management accountant, financial accountant, forensic accountant, teacher, public accountant. Some of the job roles along with the salaries offered in Australia are listed below: 

    Jobs Average Annual Salaries (AUD)
    CPA 77,600
    External Auditor 99,000
    Management Economist 104,000
    Forensic Accounting 72,700
    Taxation 128,000

    The course Masters of Professional Accounting or the MPA trains students in obtaining technical, analytical as well as practical and creative skills. They would be trained and made industry-ready with an idea to deal with accounting and finance issues in planning and decision making. A Master’s degree gives the students an opportunity to excel in the business world. The program helps the students learn advanced accounting principles so they can later on work as professional accountants, financial professionals.

    FAQS

    Ques. How is masters in professional accounting different from masters in accounting?

    Ans. Masters in professional accounting is an advanced degree allowing students to become CPA (certified professional accountant)> MPA courses have more practical approach while MAcc courses have more theoretical approach. 

    Ques. What is the eligibility criteria for pursuing masters of professional accounting in Australia?

    Ans. When planning to study masters in professional accounting in Australia, you are required to have a bachelor’s degree in relevant subjects with around 60-65% WAM. International students are also required to submit language proficiency scores such as IELTS: 6.5 and TOEFL: 79 or more. 

    Ques. Should one take the GRE or GMAT to study masters of professional accounting in Australia?

    Ans. Though GMAT/GRE is not a mandatory requirement for studying masters in professional accounting in Australia, but some universities may require you to submit GMAT scores if you do not fulfill GPA and other academic requirements. 

    Ques. How much does a masters in professional accounting in Australia cost?

    Ans. The average annual fee for masters of professional accounting in Australia is around 40,000 AUD. The overall cost of the program ranges from 42,000 to 98,000 AUD.

    Ques. How much can be earned with masters in professional accounting degree in Australia?

    Ans. Masters of professional accounting can earn you an average salary of around 75,000 AUD annually.

    Ques. Where can I study masters in professional accounting degree in Australia?

    Ans. Some of the popular Australian Universities offering masters in professional accounting in Australia are UNSW, Monash University, ANU, University of Sydney, Deakin University, UTS, etc.   

    Comments



    NO COMMENTS TO SHOW