What would be the best Australian university/degree option be for me?

Hi everyone,

I am currently a year 12 student in Australia (graduating in 2026) and was wondering what would be the best options for me to study if I wanted to go into Investment banking.

I currently live in Melbourne, and am on track to achieve a pretty good ATAR, so the main considerations for me would be the location, cost, and quality of the university degree. I have done a bit of research and have found a few options which seem to be good avenues, but I wanted to get some advice from people with a bit more experience.

Option 1: USyd Commerce/Law

This seems to be the most 'traditional' option for investment banking, which is why it appeals to me. The only concerns I really have are the price tag (80,000 AUD for a full degree) and that I would have to move to Sydney, but honestly if it is a significantly better option I would be willing to make the investment

Option 2: USyd Engineering (Honours)/Commerce

Slightly more unconventional, but from what I've read science entry into IB seems to be growing, plus it might give me a bit more versatility to move out of IB if something bad happens. Its also a bit cheaper (around 50,000 for a full degree), but otherwise has the same necessity to move to Sydney

Option 3: UNSW, same degree options as above

From what I have seen UNSW is a bit less prestigious but still a strong option. Also a bit more expensive for both degrees (90,000 ish for the law/commerce and 70,000 ish for commerce/advanced science (honours))

Option 4: Monash Uni, same options as above

Monash is probably thus far the least prestigious, though their engineering seems to be pretty strong, and they are still part of the Go8 which is a plus. Cost seems to be similar to other options, but would not require that I move to Sydney, saving money on housing.

Option 5: UniMelb Commerce (Honours) + JD if necessary

This is probably my most tentative option, as UniMelb doesn't offer anything in the way of double degrees, so I would be doing pure commerce, plus a JD after if necessary. Cost wise I think with the JD it would be quite expensive (haven't been able to find any exact figures) plus due to where I live in Melbourne it might require me to move out, which would be expensive (although less so than any of the options in Sydney)

One more thing, the reason why I'm not too against moving to Sydney is that due to job availability I would probably be looking to move there after graduation anyway, so it wouldn't be much of an inconvenience.

If I've missed any good options please let me know, as well as any advice at all you have about Investment banking degrees etc. Thanks so much for taking the time to read this and providing any advice you have

2 Comments

WSO Monkey Bot

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5mo

Based on the most helpful WSO content and insights into Australian universities for investment banking, here’s a breakdown of your options and advice tailored to your situation:

Top Australian Universities for Investment Banking

The "Group of 8" universities are the primary targets for investment banking in Australia. Among these, University of Sydney (USyd), University of Melbourne (UniMelb), and University of New South Wales (UNSW) are the strongest contenders for IB recruitment. Here's how your options stack up:

Option 1: USyd Commerce/Law

Pros:
- USyd is one of the top targets for IB in Australia, with strong alumni networks and consistent recruitment by top banks.
- A Commerce/Law degree is highly respected and versatile, giving you a competitive edge in IB and other fields like corporate law or consulting.
- Sydney is the financial hub of Australia, so you'll have better access to networking events, internships, and job opportunities.
Cons:
- High cost (~AUD 80,000) and relocation expenses.
- Law adds extra years to your degree, which may not be necessary unless you're passionate about it.

Verdict: If cost isn’t a major concern, this is one of the best options for breaking into IB.

Option 2: USyd Engineering (Honours)/Commerce

Pros:
- Engineering/Commerce is a unique combination that can set you apart, especially as banks increasingly value analytical and technical skills.
- Slightly cheaper than Commerce/Law (~AUD 50,000).
- Versatility to pivot into other industries like tech or consulting if IB doesn’t work out.
Cons:
- Still requires relocation to Sydney.
- Engineering is demanding, which might limit your ability to focus on networking and internships.

Verdict: A solid option if you want versatility and are confident in managing a heavy workload.

Option 3: UNSW (Commerce/Law or Engineering/Commerce)

Pros:
- UNSW is another top target for IB, with strong alumni representation in the industry.
- Located in Sydney, offering similar networking and job opportunities as USyd.
Cons:
- Slightly less prestigious than USyd for IB.
- Higher cost (~AUD 90,000 for Commerce/Law, ~AUD 70,000 for Engineering/Commerce).

Verdict: A great alternative to USyd, especially if you prefer UNSW’s campus culture or specific programs.

Option 4: Monash University (Commerce/Law or Engineering/Commerce)

Pros:
- Monash is a Go8 university and a semi-target for IB, particularly in Melbourne.
- Staying in Melbourne saves on relocation and housing costs.
- Strong engineering program if you choose the Engineering/Commerce route.
Cons:
- Less prestigious than USyd or UNSW for IB.
- Fewer networking opportunities compared to Sydney-based universities.

Verdict: A cost-effective option if you want to stay in Melbourne, but you may need to work harder to network and secure internships.

Option 5: UniMelb Commerce (Honours) + JD

Pros:
- UniMelb is a top-tier university and a semi-target for IB.
- Commerce (Honours) is well-regarded and can lead to strong job prospects.
- Staying in Melbourne reduces relocation costs.
Cons:
- No double degree options, so you’d need to pursue a JD separately, which adds significant time and cost.
- Fewer networking opportunities compared to Sydney universities.

Verdict: A good option if you’re set on staying in Melbourne, but the lack of a double degree and higher costs for a JD make it less appealing.

Additional Considerations

Networking: Regardless of the university, networking is critical for breaking into IB. Attend events, join finance societies, and connect with alumni early.
Internships: Start applying for internships as soon as possible. Sydney-based universities may give you an edge here due to proximity to major banks.
Cost vs. ROI: While Sydney universities are more expensive, the access to opportunities and stronger alumni networks may justify the investment if IB is your ultimate goal.

Recommendation

If cost is manageable, USyd Commerce/Law is the best option for its prestige, strong IB recruitment, and location in Sydney. If you prefer a more versatile degree, USyd Engineering/Commerce is a close second. For a more cost-effective route, Monash Commerce/Law is a solid choice, but you’ll need to be proactive in networking and internships.

Let me know if you’d like more insights or help narrowing down your decision further!

Sources: https://www.wallstreetoasis.com/forum/investment-banking/qa-australian-ib-life-etc?customgpt=1, Q&A: 2nd yr IB Analyst - Australia, Investment Banking University Recruiting Report – 7 Key Takeaways

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