Master of Commerce in Australia

Master of Commerce in Australia

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Suman PoudelSun Dec 19 2021

When it comes to finding the right place to pursue a master’s degree, Australia is the right destination for you! Pursuing a master’s degree in the field of commerce can open up numerous opportunities, especially for international students. 

With the practical learning approaches and flexible modes to study commerce, students can get to explore strategic business issues. Studying in Australian universities will facilitate students to build theoretical and technical knowledge and secure qualifications that are recognized by top employers worldwide. 

With the latest business thinking in their postgraduate curriculum in Australia, students will be able to analyze real-world business cases, build career opportunities, gain workplace connections and get an in-depth understanding of the business environment.

 Even students with minimal background in commerce can apply for a Master of commerce. 

After completing a Masters of Commerce in Australia, students can secure different positions in the private and government agencies in the roles of marketing managers, business development managers, risk analysts, business analysts, operational managers, accountants, project managers, financial analysts, sales managers, and many other managerial positions.

What do we study in Commerce?

There are many unique areas of specialization to choose from depending on student’s career goals, and industry, such as:

  • Finance, accounting, marketing, business analytics, strategy, economics, human resources, international business, risk management, operations management, sales, supply chain management, information systems and many more.

All of these subjects are designed to equip students with relevant knowledge and skillsets to jumpstart their career in the business field or to move into senior-level managerial roles.

Why study Commerce in Australia?

There are several significant reasons to pursue a Master in Australia. Some of them are listed below:

  • Australia offers a high standard of living, cultural diversity along with a clean and healthy environment. 
  • Australian universities offer numerous scholarships based on academic excellence, international students, and financial difficulties, worth more than AUD 200,000,000 every year. 
  • Australia is the top destination for master’s studies, especially those interested in commerce and management discipline.
  • Australia consists of more than 37 top universities in the world, as ranked by Times Higher Education which has been consistently producing industry-ready graduates, prioritizing updated curriculum, and state-of-the-art infrastructures. 
  • Most of the universities do not require the GRE/GMAT for the master’s program in Australia.
  • The Australian universities assure placement in the top and relevant companies after the completion of the master’s program. 
  • The average salary of graduates after a Master in commerce is $70000, per annum.
  • The tuition fee for a Master in Commerce in Australia ranges from $28,000 to $55,000 per annum, depending on the university. 

Top Universities for Master of Commerce in Australia and fees

Universities

Program

Annual Tuition Fees (Amount in AUD)

The University of New South Wales (UNSW-Sydney)

Master of Commerce

$48,240

Australian National University

Master of Commerce

$41,040.0

The University of Sydney

Master of Commerce

$52,500

RMIT University

Master of Commerce

$42,240

Curtin University

Master of Commerce

$31,500

Macquarie University

Master of Commerce

$39,900

The University of Queensland

Master of Commerce

$45,248

Charles Sturt University

Master of Commerce

$29,280

Australian University Requirement Criteria and Information

The University of New South Wales (UNSW-Sydney)- Master of Commerce

  • Course duration: 1.7 years
  • IELTS/TOEFL Requirement: IELTS with a minimum overall of 7.0 (minimum 6.0 in each subtest); Or, TOEFL iBT with a minimum overall of 94 (min. 25 in writing, 23 in reading, listening and speaking); Or, TOEFL-PBT with a minimum overall of 589 (min. 5.0 in TWE); Or, PTE with a minimum overall of 65 overall (min. 54 in each subtest) 
  • Academic Requirement: Applicants must have a recognized undergraduate degree (or equivalent qualification) with a credit average (65% or higher), as determined by the UNSW Business School. The applicant may be considered eligible if the WAM (undergraduate degree is between 60-64% and your GMAT score is 600 or above. Otherwise, applicants may also study the Graduate Certificate in Commerce to get into the Master program. 

 Australian National University- Master of Commerce

  • Course duration: 2 years 
  • IELTS/TOEFL Requirement: IELTS with a minimum overall score of 6.5 (No components less than 6.0); Or, TOEFL-IBT with a minimum overall of 80 (minimum 20 in reading, writing and 18 in speaking and listening); Or, TOEFL-PBT with a minimum overall score of 570 with a TWE score of 4.5; Or, PTE with a minimum overall score of 64 (minimum 55 in each band) 
  • Academic Requirement: Applicants must hold a Bachelor degree or international equivalent with an average mark of at least 65%. A graduate certificate in any cognate disciplines such as Accounting, Actuarial Studies, Business, Business information systems, Computing Science, Economics, Finance, International Business, Management, Marketing, Mathematics, or Statistics.

The University of Sydney- Master of Commerce

  • Course duration: 1.5 years full time
  • IELTS/TOEFL Requirement: IELTS with a minimum score of 7.0 overall (with a minimum score of 6.0 in each); Or, TOEFL-IBT with a minimum overall of 96 overall (minimum score of 17 in Reading, Listening and Speaking and 19 in Writing); Or, PTE with a minimum overall of 68 (a minimum result of 54 in each).
  • Academic Requirement: Applicants must have an Australian bachelor's degree in commerce, business or related discipline with a credit average (65 per cent) or equivalent qualification; Or, 50% average in bachelor’s degree with an average GMAT score of 630; Or, bachelor’s degree with an average of 65% or equivalent and one year of relevant work experience. 

RMIT University- Master of Commerce

  • Course duration: 2 years full time or 1.5 years 
  • IELTS/TOEFL Requirement: IELTS with a minimum overall band of 6.5 (with no individual band below 6.0); Or, TOEFL (Internet Based Test - IBT) with a minimum overall score of 79 (with a minimum of 13 in Reading, 12 in Listening, 18 in Speaking and 21 in Writing); Or, PTE with a minimum score of 58 (with no band less than 50)
  • Academic Requirement: Applicants must hold an Australian Bachelor degree (or equivalent overseas qualification) or higher level qualification in any discipline from a recognized tertiary institution. 

Curtin University- Master of Commerce

  • Course duration: 2 years full time
  • IELTS/TOEFL Requirement: IELTS with a minimum overall of 6.5 (with minimum 6.0 in each band); Or, PTE with a minimum overall of 58 (Listening-50, Reading 50, Writing 50, Speaking 50); Or, TOEFL-IBT with a minimum overall score of 79 (with reading and listening 13, speaking 18 and writing 21); Or, TOEFL-PBT with a minimum overall 570 (4.5 in TWE).
  • Academic Requirement: Applicants must have a bachelor degree (or equivalent) in any discipline or a graduate certificate in any discipline.

Macquarie University- Master of Commerce

  • Course duration: 2 years 
  • IELTS/TOEFL Requirement: IELTS with a minimum overall of 6.5 with 6.0 in each; TOEFL iBT (internet-based) with 83 in overall with 13 in reading, 21 in writing, 12 in listening, and 18 in speaking, Pearson Test of English (PTE) Academic with overall 58 and 50 in each band.
  • Academic Requirement: Applicants must hold an AQF level 7 bachelor qualification in a related field of Accounting, business, commerce, economics, finance, marketing, the management or recognized equivalent, or AQF level 7 bachelor degree or recognized equivalent, along with two years relevant approved work experience, professional certification or other recognized prior learning.

The University of Queensland- Master of Commerce

  • Course duration: 1.5 years or 2 years. 
  • IELTS/TOEFL Requirement: IELTS with a minimum overall of 6.5 (with no band less than 6.0); TOEFL-IBT with a minimum overall of 87 (with listening 19, reading 19, writing 21 and speaking 19); Or, TOEFL-PBT with a minimum overall of 570 (with listening 54, reading 54, writing 59/5); Or, PTE with a minimum overall score of 64 and 60 in each band.
  • Academic Requirement: Applicants must hold a bachelor degree (or equivalent) with a GPA of 4.5, or applicants should hold a Graduate Certificate in Commerce from UQ with a GPA of 4.5.

Charles Sturt University- Master of Commerce

  • Course duration: 1.5 years
  • IELTS/TOEFL Requirement: IELTS with a minimum overall score of 6 (no individual score below 5.5)
  • Academic Requirement: Applicants must have an undergraduate degree from a recognized Australian tertiary institution (or equivalent). Applicants without such degree may apply for the Graduate Diploma of Commerce depending on their professional attainment and/or work experience and after its completion, can apply for Master of Commerce. 

Duration of Commerce in Australia- How many years does it take to study Master of Commerce in Australia?

To complete the Master of Commerce in Australia generally takes 1.5 to 2 years depending on the chosen area of specialization, prior work experience and qualifications. 

Admission Process and University requirement for Commerce in Australia

The admission requirements and eligibility depend highly in terms of universities, prospective students’ academic background and their purpose for studying Master of Commerce in Australia. 

Requirements

Eligibility

Documents required

  1. Official Transcripts of previous academics.
  2. 2-3 Letters of recommendations.
  3. A clear Statement of Purpose.
  4. Resume.
  5. English version of native-language Transcripts.

Visa Requirements for International Students in Australia

  1. Offer letter from the chosen university
  2. Australian Student Visa
  3. OSHC health insurance
  4. Passport
  5. Bank Statement
  6. Relationship certificate (Not Mandatory)
  7. Official bank statement (Amount depending upon total living cost and university tuition fees)

Scholarships for Commerce in Australia

There are numerous internal and external scholarships available for international students in Australia. To get scholarships in Australia, students should be eligible in terms of their academics, financial difficulties, and locations. The major scholarships in Australia for international students are presented in the following table:

College/University

Scholarship

Details

Australian National University

ANU Chancellor’s International Scholarship

25% or 50% fee waiver of tuition

Curtin University

Starter Support Scholarship; Merit Scholarship

AUD$5000; 25% tuition waiver based on academic excellence

RMIT University

International Tuition Fee Bursary

10% reduction of tuition fees

Macquarie University

Macquarie University $5,000 Regional Scholarship; South Asia $10,000 Early Acceptance Scholarship; Vice-Chancellor's International Scholarship

AUD $5,000 per year; AUD $10,000 per year; Up to AUD $10,000

The University of Queensland

UQ Refugee and Humanitarian Scholarship; Paul Compton Scholarship and many more.

100% fee waiver plus stipend (Based on Financial hardship and diversity); $6,500 based on financial hardship

Charles Sturt University

CSU Foundation International Student Scholarship

$5,000

The University of New South Wales (UNSW-Sydney)

International Scientia Coursework Scholarship; UNSW Business School International Scholarship

$20,000; $10,000 per annum

The University of Sydney

Business School International Scholarship

$5000 to $10,000

Scope of Commerce in Australia

A Postgraduate degree in Australia in the field of commerce can open doors for lucrative and highest paying positions in Australian companies.

Depending on the area of specializations, graduates can pursue their career as a risk analytics manager, pricing strategist, business development manager, sales executive, business analyst, business consultant, financial manager, and many more.

According to au.talent.com, the average salary for different positions after Master in commerce in Australia are as follows:

Positions

Average Salary (Per annum)

Market risk analytics manager

$110,000

Financial manager

$135,000

Business systems analyst

$109,857

Business analyst

$110,000

Business services supervisor

$110,000

Project Manager

$123,075

Marketing manager

$108,190

Logistics Manager

$117,500

Business Administrator

$90,000

Business Development Manager

$111,368

Data Analyst

$102,865

E-commerce specialist

$87,375

After Master of commerce, Australian universities offer a promising career for international students in different positions in the field of management, hospitality, educations, health, IT, finance and many more.





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