Masters in Professional Accounting in Australia: Fees 2023, Top Colleges, Admissions, Placements & Salaries

Master of Professional Accounting in Australia: Fees 2023, Top Colleges, Admissions, Placements & Salaries

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. The cost of studying this program ranges between 33,770-68,688 AUD (19.45-39.57 lakhs INR)​.

Jobs offered to students holding masters in professional accounting degree in Australia pay nearly 66,000 AUD (38 lakhs 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.

Masters in Professional Accounting in Australia: Highlights

Degree Types Master of Professional Accounting
Course Duration 1-2 years
Program Types Part-Time, Full-Time
Intake Seasons Throughout the year
Admission requirements Bachelor's degree in a relevant field | Minimum overall aggregate of 70-75%
English Proficiency IELTS: 7.0 | TOEFL: 96
Tuition Fee 33,770-68,688 AUD (19.45-39.57 lakhs INR)
Average Salary 66,000 AUD (38 lakhs INR)

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:

University Program Offered Application Deadlines Tuition Fee (AUD)
Australian National University Master of Professional Accounting  May 15, 2023 46,680
University of Sydney Master of Professional Accounting and Business Performance  June 25, 2023 54,000
University of New South Wales (UNSW) Master of Professional Accounting Rolling 48,700
Monash University Master of Professional Accounting June 27, 2023 50,000
University of Queensland (UQ) Master of Commerce (Professional Accounting) June 30, 2023 46,384
University of Western Australia (UWA) Master of Professional Accounting Rolling 45,500
University of Adelaide Master of Professional Accounting Rolling 49,000
University of Technology Sydney (UTS) Master of Professional Accounting November 30, 2022 (applications closed) 68,688
University of Newcastle (UoN) Master of Professional Accounting April 23, 2023 33,770
Deakin University Master of Professional Accounting February 19, 2023 41,600

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

Why Study Masters in Professional Accounting in Australia?

  • Around 84,000 new job openings are expected to grow in the upcoming five years in the field with around 16,800 new jobs each year. 
  • With seven 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.
  • 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, indicating a constant rise in the demand for professionals who are being hired at better and cushy median salaries 
  • The demand for accounting professionals in Australia has skyrocketed, as evidenced by a 34% increase in vacant job listings year-over-year, highlighting the growing need for thousands of additional accountants to meet the current deficit
  • Australia's unemployment rate as of October 2022 is 3.4%, indicating numerous job opportunities for graduates

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: 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
Australian National University 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 (average 630) TOEFL: 96 IELTS: 7.0
University of New South Wales (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
University of Queensland Bachelors in relevant field Country specific requirements may vary TOEFL: 87 IELTS: 6.5
University of Western Australia (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
University of Technology Sydney (UTS) Relevant UG degree - IELTS: 6.5 TOEFL: 93
University of Newcastle (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:

  • Please ensure that the applications are made on time and all the documents are submitted along with the applications before the deadlines approach. 
  • Certificates and transcripts of previous studies. 
  • LOR are an important part of your applications, academic LOR can make or break your applications. 
  • 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. 

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:

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 to 98,000 AUD. This is equivalent to 23 to 53.4 lakh INR for an Indian student.

Masters in Professional Accounting in Australia Tuition Fee

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. 

University Tuition Fee (AUD) Tuition Fee (INR)
Australian National University 46,680 26.89 lakhs
University of Sydney 54,000 31.11 lakhs
University of New South Wales (UNSW) 48,700 28.06 lakhs
Monash University 50,000 28.81 lakhs
University of Queensland (UQ) 46,384 26.72 lakhs
University of Western Australia (UWA) 45,500 26.21 lakhs
University of Adelaide 49,000 28.23 lakhs
University of Technology Sydney (UTS) 68,688 39.57 lakhs
University of Newcastle (UoN) 33,770 19.45 lakhs
Deakin University 41,600 23.97 lakhs

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)

Expense Type Average Cost (AUD) Cost Equivalent (INR)
Accommodation 1,495 82,010
Food 312 17,115
Travel 150 8,228
Internet 76 4,169
Utilities 207 11,354
Miscellaneous 86 4,717

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:

Scholarships Eligibility Award Details (AUD)
ANU Chancellor’s International Scholarship Enrolled in Australian National University 25-50% fee reduction
Business, Economics and Law - Global Leaders Scholarships Enrolled in University of Queensland | Resume| Personal Statement | LOR 15-100% fee reduction
International Excellence Scholarship (Management, Accounting and Finance) Enrolled in University of Newcastle 15,000 per year
Sir John Monash Scholarship for Excellence Enrolled in any undergraduate or postgraduate (coursework) degree at a Monash campus in Australia, Academic merit 10,000 per year
UTS Vice-Chancellor’s International Postgraduate Coursework Scholarship Enrolled in any postgraduate (coursework) degree at University of Technology Sydney, minimum overall aggregate of 90% Full tuition fees coverage
South Asia Excellence Scholarship Enrolled at University of Newcastle, Academic merit 10,000 per year
Deakin Vice-Chancellor’s International Scholarship Enrolled in any postgraduate program at Deakin University, Personal statement, 2 references 50-100% tuition fees coverage
Sydney International Student Award Enrolled in University of Sydney, Personal Statement 20% off tuition fees
International Student Award Enrolled in University of New South Wales, Academic merit 15% off tuition fees
International High Achievers Scholarship Enrolled in University of Queensland, Academic excellence 10,000
Postgraduate Academic Excellence International Scholarship Enrolled in University of Technology Sydney, Academic merit 25-35% off tuition fees

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: 

Masters in Professional Accounting in Australia Scope
Job Roles Average Annual Salary (AUD) Salary Equivalent (INR)
Accountant 60,000 34 lakhs
Assistant Accountant 58,000 33 lakhs
Finance Manager 93,000 53 lakhs
Financial Controller 107,000 61 lakhs
Payroll Manager 87,000 50 lakhs
Payroll Officer 60,000 34 lakhs
Auditor 63,000 36 lakhs
Commercial Analyst  93,000 53 lakhs
Finance Analyst 78,000 45 lakhs

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.

FAQ

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 is Master of Professional Accounting in Australia?

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.   

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