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
|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
|University of Sydney||60% in UG||GMAT required (2019 class average 630)||TOEFL: 96
|UNSW||65% in UG||If lower percentile, GMAT-600||TOEFL: 94
|Monash University||60% in UG||A statement detailing that they possess the academic skills required||TOEFL: 79
|UQ||Bachelors in relevant field||Country specific requirements may vary||TOEFL: 87
|UWA||UG with 60%||GMAT- 550||IELTS: 6.5
60% in English Boards (ICSE/CBSE)
|University of Adelaide||UG in relevant field||Best of the three subjects are taken (excluding language)||TOEFL: 79
|UTS||Relevant UG degree||-||IELTS: 6.5
|UoN||Relevant UG degree||UG in non-relevant subject, 1-year work experience||IELTS: 6.5|
Along with your application package for masters program, you are required to submit the following documents:
- Transcripts: Certificates and transcripts of previous studies.
- Letters of Recommendations: LORs are an important part of your applications, academic LORs can make or break your applications.
- 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.
- 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:
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)|
|Australian Visa Fees||606|
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)
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)|
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.
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?