Accounting is one of the most in-demand professions in Australia. This is because accountants are employed in almost every industry, in locations all around the country. Accounting is also listed on the Australian Skilled Occupation List for several visas, meaning that studying accounting could even provide a pathway to permanent migration in Australia.
If you’re considering an accounting career, you may be wondering what the cost of studying an accounting degree in Australia really is. We’ve done the maths, and here’s what we’ve found.
Where can you study accounting in Australia?
You can obtain an accounting qualification from educational institutions across Australia. Accounting courses are generally available through university, TAFE or other independent education providers.
What is the cost of studying accounting in Australia?
The cost of an accounting qualification will vary depending on your education provider and the type of accounting course that you undertake. For example, a master’s course at university is generally more expensive than a diploma through a vocational education and training (VET) provider.
The cost of an accounting degree
At most Australian universities, an undergraduate accounting degree may cost anywhere from $30,000 to $150,000. If you choose to pursue a postgraduate course, a two-year master’s degree in accounting can cost around $40,000 to over $100,000.
The best universities for accounting in Australia
Most Australian universities offer undergraduate and postgraduate courses in accounting. According to the QS World University Rankings, the University of Melbourne is the best university in Australia for accounting and finance studies, and the 18th best university in the world for the subject. The University of New South Wales (UNSW Sydney) and the University of Sydney are ranked second and third in Australia for accounting and finance, and both hold a place within the top 30 universities in the world to study accounting.
The cost of other accounting qualifications
There are several other pathways that you can take to obtain an accounting qualification. TAFE institutes and private education providers offer a variety of VET accounting courses at certificate IV, diploma and advanced diploma level. A VET course in accounting can lead to an accounting technical role or a springboard for further studies.
The cost of a VET accounting course can vary. It ranges anywhere from $4,000 to over $20,000, depending on the education provider and course level.
As well, some professional accounting associations such as the Association of Chartered Certified Accountants (ACCA) offer an alternative pathway to become a qualified accountant. The cost to complete the ACCA qualification can be found on the organisation’s website. Note, however, that the ACCA qualification is not on the CRICOS and you will not be able to apply for a student visa to complete your ACCA qualification. This can be taken alongside other studies or if you have an unrestricted visa to Australia.
Can I reduce the cost of my accounting qualification?
If you’re concerned about your budget, then there are a couple of different pathways that you can look into.
Scholarships for international students
As an international student, you may be eligible for a scholarship. Scholarships can greatly reduce the cost of your degree and help with your budget while you’re in Australia. You can check your educational institution’s website for information about the scholarships they offer.
The cost of living in a regional area in Australia
One of the best ways to reduce your spending is to move somewhere in Australia with a lower cost of living. Major Australian cities can be expensive, but the cost of living often drops if you are studying in a regional area.
Fortunately, that’s the only thing that changes. Australian qualifications are all of extremely high quality, regardless of location. Not to mention, studying in a regional location can actually offer many other benefits to international students.