Choosing the Right MS in Accounting Program in Australia

When considering a Master of Science in Accounting (MS in Accounting) program in Australia, the primary question is often: Where should I do an MS in Accounting in Australia? This guide will help you navigate the complexities of the Australian job market, the potential value of degrees from different universities, and how to choose the best program for your career goals.

The Australian Job Market for Accountants and Finance Professionals

The job market in Australia for accountants and finance professionals is not without its challenges. It's essential to understand the realities of the job market and the quality of education available in the country. Despite having all the wealth indicators of advanced economies, many Australian universities do not rank in the top 20 in global rankings.

There is often a perception that university rankings are paramount, but in the real world, the job market is not entirely a meritocracy. Factors such as race and other non-merit-based criteria can influence opportunities. It's crucial to consider these factors when making your educational choices.

CPA vs. MS in Accounting

The Certified Practicing Accountant (CPA) designation is highly valuable for those looking to enter the Australian job market. Unlike the Masters in Accounting program (MS in Accounting), achieving the CPA requires professional experience and a CPA accreditation. CPA certification can open doors to better job opportunities and higher salaries.

Many educational agents in Australia recommend MS in Accounting programs because they receive commission from these fees. However, seeking advice from a migration and student advising agency (MARA) approved agent can provide you with a more cost-effective and efficient path to migration.

Choosing the Right University in Australia

If your goal is to settle in Australia and build a career there, the specific university you choose may not be as critical as many believe. However, the first job can be challenging, and it does not solely depend on the university you graduated from. Therefore, the choice of university becomes less about the future job prospects and more about your personal preferences regarding the university's location, reputation, and cost.

Proximity to City

One significant factor to consider is the proximity of the university to the city. This can influence your daily life and commute. RMIT, for example, is located in Melbourne and though it is very famous and known for its international students, it can be quite crowded and expensive. Scholarships may be hard to come by at RMIT.

Deakin is another option, which is located in Geelong and is quite far from the city. Latrobe University, on the other hand, is also located in regional areas, making it very far from the city. Given this information, RMIT might be the most convenient option for those seeking a more urban lifestyle.

Key Universities to Consider

RMIT: Located in the heart of Melbourne, offering a vibrant and diverse campus with a significant international student body. While very popular, it can be quite crowded and more expensive. Scholarships may be available, but the application process can be competitive. Deakin University: With campuses in Geelong and Melbourne (Burwood), Deakin is a strong choice for those comfortable with a bit of distance from the city. It offers a balance between urban and suburban living, as well as a strong reputation in the field of accounting. LATROBE: Situated in Bundoora, about 18km from Melbourne, La Trobe is best suited for those who do not mind a longer commute. It is recognized for its strong academic programs and is a cost-effective option for undergraduate studies.

Each of these universities offers unique advantages. RMIT is popular and offers a lot of amenities, Deakin is closer to the city, and La Trobe is a more affordable option.

Conclusion

Ultimately, the decision about where to study MS in Accounting in Australia depends on your personal preferences and objectives. If you are looking to settle and build a career in Australia, the first job after graduation is a crucial factor. However, if you are willing to work hard and take a bit of time to find the right opportunity, you can make a successful career in accounting. Be prepared to face challenges, but with the right approach, you can achieve your goals in the competitive and rewarding field of accounting in Australia.