Bachelor of Business (Financial Planning)
Student type:
Quick facts
-
Entry score
-
Duration
Full-time 3 years, Part-time may be available -
Location
Melbourne City -
Fees
Next intake
February, JulyEntry score
ATAR 65.45
Duration
Full-time 3 yearsLocation
Melbourne City
Interested in Financial Planning?
Introducing RMIT's new Bachelor of Business. You can explore multiple specialisations within a customisable course structure, with opportunities for hands-on learning and industry engagement.
Overview
This financial planning degree will develop your financial knowledge, analytical skills and decision-making abilities, enabling you to work as a qualified professional financial planner and work in other roles in the finance sector.
Recognised and accredited by the Financial Planning Association of Australia (FPA), the degree will equip you with the expertise to provide professional financial advice in a range of areas including personal planning, taxation, estate planning, superannuation, insurance and investment planning.
As you develop your core skills towards obtaining a financial planner license and FPA membership, you will also learn about the changing regulatory and legal environment in Australia.
This degree is designed to suit students who already have significant work experience, and for those who want to extend their studies in business and related disciplines by choosing from a range of second majors and minors.
Details
Classes will mostly be delivered in RMIT's Swanston Academic Building which features innovative learning spaces interspersed with retail and social spaces resulting in a stimulating environment for students.
RMIT offers a variety of learning and teaching approaches including lectures, tutorials, class presentations and student-led discussions, role plays, case study analysis and participating in managing a company in a computer-based business simulation.
Through RMIT University’s online learning portal, myRMIT, you will be able to view online resources and learning activities created by lecturers, access course materials via Blackboard, collaborate with lecturers and fellow students, and access your student email account. Educational software, the Learning Hub, resources and printers are accessible on campus via the RMIT wireless network using your own laptop, tablet or smart phone or via computer facilities on-campus. You will be able to access the same software from home using myDesktop.
Find out more about student computing at RMIT.
Assessment throughout the semester may include examinations, in-class tests, essays, reports, individual and group research projects.
As part of your studies, you will undertake specialist financial planning work-integrated learning courses like ‘Superannuation and Retirement’. This course and others allow you to study current processes, regulatory frameworks and taxation issues and are listed on the ASIC Register of Compliant Training as meeting the requirements for superannuation specialist knowledge under Regulatory Guide 146. ‘Superannuation and Retirement’ is also worth 15 Continuing Professional Development (CPD) points for membership of professional bodies, including the FPA.
A final year course, ‘Financial Advisory Practice’, requires you to demonstrate all you have learnt from your studies by preparing, presenting, implementing and reviewing a personal financial plan for a client. You will also explore practical issues relevant to the financial planning industry in general, and practice management specifically.
As you undertake these courses, you will have opportunities to interact and receive feedback from industry and/or community, clients and/or practitioners.
You may also choose to participate in other work-connected and industry-relevant opportunities such as:
working in a student team as part of the Fastrack Innovation Program. In this elective course, you will work with mentors to develop and present a solution to a real problem. This form of fast-prototyping is designed to tap into fresh thinking from RMIT students.
Business Internship electives, where you work in a professional setting for one or two days per week for one semester. Positions are normally unpaid and are designed to develop your communication and leadership skills (soft skills) and increase your overall employability once you graduate.
RMIT University is committed to providing you with an education that strongly links formal learning with professional and vocational practice.
Completing a global mobility program can help you to stand out in the job market.
In most cases you can gain credit points towards your studies while experiencing another culture and teaching style overseas.
Global mobility options available for this program include:
- Study tours
- First Year Study Tour
- Student exchange
- RMIT International Industry Experience and Research Program (RIIERP)
- Global Entrepreneurship and Internship Program (GEIP).
Find out more about international opportunities in the College of Business.
The following information relates to the Melbourne City campus degree.
The degree consists of 24 subjects (each 12 credit points) and includes:
- 8 compulsory common business core subjects
- 8 business discipline major subjects
- 8 flexible subjects.
The 8 flexible courses can be selected from 3 options:
- a second business discipline major (8 courses)
- a compulsory business discipline minor (4 subjects) plus second minor (any discipline)
- a compulsory business discipline minor (4 subjects) plus 4 electives.
You must complete both Business Finance (BAFI1008) and Taxation 1 (LAW2453) in order to meet the Financial Planning Association of Australia professional accreditation requirements and, therefore, to be eligible for membership of FPA, as well as to ensure compliance with RG146. These two courses are also available through the Financial Planning and Taxation Minor, which is strongly recommended for the Bachelor of Business (Financial Planning) students.
Note: You will not be able to complete a second major if you are seeking professional accreditation and membership.
If you select a second business major, you can select from:
- accounting
- economics
- entrepreneurship
- human resource management
- information systems
- logistics and supply chain management
- management
- marketing.
Business minors can be selected from the same disciplines as listed above, as well as behavioural business, business analysis, financial planning and taxation, human resource practice, IS security and risk management, law or the flexible business minor. Other minors can be selected from many disciplines offered across RMIT.
You are advised to check detailed information about which elective and minor subjects are offered each year, as well as general information about professional practice requirements.
If you choose electives as your flexible courses, you may wish to consider business internship electives, global experience options such as internships or study tours, or Business Skills for Start Ups, a subject designed for students interested in starting up their own business, covering the stages from concept through to launch.
Choose a program structure
Choose a program structure
Program code: BP314
VTAC Code
If you are eligible to apply via VTAC, copy and paste the below code into VTAC search.
- Plan BP314 - 3200310201
Please ensure that you have checked the admissions requirements and apply page before applying.
VTAC Code
If you are eligible to apply via VTAC, copy and paste the below code into VTAC search.
- Plan BP314 - 3200310203
Please ensure that you have checked the admissions requirements and apply page before applying.
Career
Graduates will be equipped with the knowledge and technical skills to provide professional advice relating to financial markets, investments, superannuation, retirement planning and insurance in diverse organisations.
As a financial planning professional, you will be able to take on roles in stockbroking, funds management, insurance and risk, and superannuation, and work in private sector or government organisations that have a requirement for high-level, technical expertise in financial planning.
Job titles may include:
- Investment advisor
- Fund manager
- Risk analyst
- Wealth management officer
- Insurance broker
- Stockbroker
- Investment banker
- Superannuation specialist
- Personal financial advisor
- Financial analyst
Course accreditation or membership offered by professional bodies signals to employers the quality and relevance of RMIT's courses and opens up career pathways and networks.
Professional bodies accredit or recognise courses as meeting professional and academic standards deemed to be essential for a new graduate entering into that profession. An accredited course will either enable the graduate to enter directly into a professional qualifications program or provide the graduate with exemptions or credit towards a post university professional qualification.
Statutory accreditation
This type of accreditation is where a statutory body must approve a course of study in order for a graduate to practise in that profession.
Membership
Professional bodies or associations are representative organisations of professions that provide membership and other career development support to its members. Many professional bodies offer membership opportunities for students and new graduates with benefits such as career advice, networking within the profession and access to resources not available through the university. The aim of these benefits is to assist with your transition from university into the profession.
Bachelor of Business (Financial Planning)
Current course accreditations and information about membership and development opportunities for students and graduates.
Financial Planning Association of Australia (FPA)
Course satisfies the academic requirements to become a Financial Planner and entry to the CFP Certification program.
(Accredited for course delivery in Melbourne and via Open Universities Australia.)
Membership and opportunities
- Graduates eligible to enrol in CFP Certification Program
- Graduates eligible for membership category: Affiliate
- Students eligible for membership category: Student
Visit the Financial Planning Association of Australia website
Financial Adviser Standards and Ethics Agency (FASEA)
Course satisfies the academic requirements for registration as a Financial Planner.
Visit the Financial Adviser Standards and Ethics Agency website
Admissions
You must have successfully completed an Australian Year 12 (or equivalent qualification).
Prerequisites
Units 3 and 4: a study score of at least 30 in English (EAL) or at least 25 in English other than EAL.
Rankings and adjustment factors
Entry to this program is competitive. Eligible applicants are ranked and selected in order of merit based on their academic achievement plus any adjustment factors.
Adjustment factors include equity access schemes and/or subject adjustments.
We will consider your entire academic record to determine your eligibility for entry. The highest level of education you have previously completed will usually determine how you are ranked.
Selection criteria by applicant type
Please select the highest level of education you have or will be completing in order to find out the selection criteria that applies to you, in addition to meeting the above entry requirements.
Adjustment factors available only to applicants currently studying Year 12
School Network Access Program (SNAP)
- The SNAP access scheme is designed to increase tertiary participation by giving priority access to RMIT diploma and degree programs to eligible applicants currently studying Year 12 at a SNAP partner school.
Adjustment factors available only to applicants currently studying Year 12 or whose highest qualification is a completed Year 12.
Subject adjustments
- A study score of 25 in any Business, any Information Technology, any Mathematics or Psychology equals 1 aggregate point per study.
- A study score of 35 in any English equals 2 aggregate points per study.
- Overall maximum of 8 points.
Regional adjustments
- RMIT automatically allocates adjustment factors to applicants from a low socio-economic status area for all programs that select primarily on ATAR. Low socio-economic status areas are determined by applying the Australian Bureau of Statistics (ABS) Socio-Economic Index for Areas (SEIFA) Index of Education and Occupation.
Equity access schemes
- Equity access schemes take into account personal information and location, difficult circumstances, disadvantaged financial background and disability or medical condition that may have impacted on an applicant’s most recent academic performance.
- This program has been recognised as being under-represented by female applicants. Additional adjustment factors may apply to those applying to category 1 of the Special Entry Access Scheme or RMIT access application.
- Find out more about the eligibility requirements for each Special Entry Access Scheme and RMIT access categories.
- If you are applying through VTAC you should apply for the Special Entry Access Scheme.
- If you are applying directly to RMIT you should apply for RMIT Access. The system will prompt you to do this during your application.
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
We will consider your entire academic record to determine your eligibility for entry. The highest level of education you have previously completed will usually determine how you are ranked.
Successful completion of any Australian Diploma or Advanced Diploma (or equivalent) will meet the minimum entry requirements for this course.
Special Tertiary Admissions Test (STAT)
You may satisfy the academic requirements by completing the STAT multiple choice.
If you are applying to RMIT as an applicant with vocational education training, you may sit the STAT multiple choice if you:
are 19 years of age or over as of 1 January in the year in which you will start your studies and
have not been enrolled in secondary studies for at least two years and
have no prior secondary school (Year 12), VET studies, HE studies or relevant work experience that can be considered for entry, or these do not meet the minimum academic requirements for the program
STAT results are valid for two years prior to the commencement of study and can be used to meet Year 12 English prerequisites. You are still required to meet all other program prerequisites or equivalents.
Learn more about RMIT STAT results including minimum STAT scores required to meet prerequisites.
You may be eligible for the following adjustment factors:
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
Entry to this program is competitive. Applicants are ranked and selected in order of merit based on their academic achievement, e.g., GPA (including any adjustment factors).
We will consider your entire academic record to determine your eligibility for entry. Previous fail grades in similar courses may affect your eligibility.
- successful completion of an Australian higher education diploma (or equivalent overseas qualification); or
- successful completion of at least four courses (subjects) at an Australian associate degree (or equivalent) and no double-fail in any required course of the receiving degree; or
- successful completion of at least two courses (subjects) at an Australian undergraduate level (or equivalent) and no double-fail in any required course of the receiving degree.
Special Tertiary Admissions Test (STAT)
You may satisfy the academic requirements by completing the STAT multiple choice. If you are applying to RMIT as an applicant with higher education study, you may sit the STAT multiple choice if you:
are 19 years of age or over as of 1 January in the year in which you will start your studies and
have not been enrolled in secondary studies for at least two years and
have no prior secondary school (Year 12), VET studies, HE studies or relevant work experience that can be considered for entry, or these do not meet the minimum academic requirements for the program
STAT results are valid for two years prior to the commencement of study and can be used to meet Year 12 English prerequisites. You are still required to meet all other program prerequisites or equivalents.
Learn more about RMIT STAT results including minimum STAT scores required to meet prerequisites.
Personal Statement
If you have been excluded from a program due to academic progress you are encouraged to submit a personal statement outlining the strategies you will adopt to ensure academic success.
If you are applying to RMIT through VTAC you can complete and submit the VTAC personal statement via your online VTAC account.
If you are applying direct to RMIT you can upload your completed personal statement via your online direct application.
You may be eligible for the following adjustment factors:
Equity access schemes
- Equity access schemes take into account personal information and location, difficult circumstances, disadvantaged financial background and disability or medical condition that may have impacted on an applicant’s most recent academic performance.
- This program has been recognised as being under-represented by female applicants. Additional adjustment factors may apply to those applying to category 1 of the Special Entry Access Scheme or RMIT access application.
- Find out more about the eligibility requirements for each Special Entry Access Scheme and RMIT access categories.
- If you are applying through VTAC you should apply for the Special Entry Access Scheme.
- If you are applying directly to RMIT you should apply for RMIT Access. The system will prompt you to do this during your application.
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
Entry to this program is competitive. Applicants are ranked and selected in order of merit based on their academic achievement, e.g., Special Tertiary Admission Test (STAT) score (including any adjustment factors).
You must have successfully completed an Australian Year 12 (or equivalent qualification) and meet the stated prerequisites. Work and life experience does not provide any additional consideration for entry to this program. You may satisfy the academic requirements by completing the STAT multiple choice.
Special Tertiary Admissions Test (STAT)
You may satisfy the academic requirements by completing the STAT multiple choice. If you are applying to RMIT as an applicant with work or life experience, you may sit the STAT multiple choice if you:
are 19 years of age or over as of 1 January in the year in which you will start your studies and
have not been enrolled in secondary studies for at least two years and
have no prior secondary school (Year 12), VET studies, HE studies or relevant work experience that can be considered for entry, or these do not meet the minimum academic requirements for the program
STAT results are valid for two years prior to the commencement of study and can be used to meet Year 12 English prerequisites. You are still required to meet all other program prerequisites or equivalents.
Learn more about RMIT STAT results including minimum STAT scores required to meet prerequisites.
You may be eligible for the following adjustment factors:
Equity access schemes
- Equity access schemes take into account personal information and location, difficult circumstances, disadvantaged financial background and disability or medical condition that may have impacted on an applicant’s most recent academic performance.
- This program has been recognised as being under-represented by female applicants. Additional adjustment factors may apply to those applying to category 1 of the Special Entry Access Scheme or RMIT access application.
- Find out more about the eligibility requirements for each Special Entry Access Scheme and RMIT access categories.
- If you are applying through VTAC you should apply for the Special Entry Access Scheme.
- If you are applying directly to RMIT you should apply for RMIT Access. The system will prompt you to do this during your application.
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
Additional information
*ATAR refers to the lowest selection rank to which an offer was made (including consideration of any adjustments) for current and recent Year 12 applicants.
RMIT is committed to providing transparency to the admissions process. In line with this commitment, we provide you with information that will help in making informed choices about your undergraduate study options. Find out more about RMIT’s commitment to admissions transparency.
You must have successfully completed an Australian Year 12 (or equivalent senior secondary school qualification) with a minimum average of 65% (check calculator below).
Equivalent qualifications may also include completion of the RMIT Foundation Studies program or a recognised post secondary diploma in the relevant discipline with the required grades.
Meeting the minimum academic requirements does not guarantee entry. Your application will still need to be assessed and accepted.
If you don't meet the entry requirements, there may be other RMIT programs you are eligible for that can lead you to your preferred program. Explore your pathway options.
To study this program you will need to complete one of the following English proficiency tests:
- IELTS (Academic): minimum overall band of 6.5 (with no individual band below 6.0)
- TOEFL (Internet Based Test - IBT): minimum overall score of 79 (with minimum of 13 in Reading, 12 in Listening, 18 in Speaking and 21 in Writing)
- Pearson Test of English (Academic) (PTE (A)): minimum score of 58 (with no communication band less than 50)
- Cambridge English: Advanced (CAE): minimum of 176 with no less than 169 in any component.
For detailed information on English language requirements and other proficiency tests recognised by RMIT, visit English language requirements and equivalency information.
Don't meet the English language test scores? Complete an English for Academic Purposes (EAP) Advanced Plus Certificate at RMIT English Worldwide.
Pathways
Even though there are currently no formal pathways into this degree, there are often other ways you can gain entry.
Depending on the course, this may include completing a certificate, diploma, advanced diploma or associate degree or undertaking recognised professional experience.
For more information, use our Pathways finder or contact Study@RMIT to discuss your options.
Credit and recognition of prior learning
Credit, recognition of prior learning, professional experience and accreditation from a professional body can reduce the duration of your study by acknowledging your earlier, relevant experience. Find out if you might be eligible.
When you successfully complete this program you may be eligible for entry into the Bachelor of Business (Honours).
Alternatively, you may be eligible for entry into other RMIT honours or postgraduate programs.
Fees
2022 indicative fees
In 2022, the annual student contribution amount (tuition fee) you will pay for a standard year of full-time study is between AU$3,985 to AU$14,630*.
Additional expenses
- Student services and amenities fee (SSAF): AU$315 maximum fee for 2022.
- Other items related to your program, including field trips, textbooks and equipment.
Annual fee adjustment
Amounts quoted are indicative fees per annum, and are based on a standard year of full-time study (96 credit points). A proportionate fee applies for more or less than the full-time study load.
Fees are adjusted on an annual basis and these fees should only be used as a guide.
Defer your payment
You may be eligible to apply for a HECS-HELP loan, which can be used to defer payment of up to the full amount of your student contribution fees. You may also be eligible to apply to defer payment of your SSAF through the SA-HELP loan scheme.
Learn more about fees for undergraduate study.
Paying your fees and applying for refunds
For information on how to pay your fees or how to apply for a refund, please see Paying your fees and applying for refunds.
If you are offered a Commonwealth supported place, your tuition fees are subsidised by the Australian Government.
Your share of the fee (student contribution) is set on an annual basis by the government and is determined by the discipline areas (bands) of your individual enrolled courses, not the overall program.
How much can I expect to pay for my Commonwealth supported place?
The Australian Government has introduced changes to university funding and student contribution fees under its Job-ready Graduates Package.
The fees in the table below apply to students commencing their program in 2022. Fees for continuing students are available at fees for Commonwealth supported students.
Each course (subject) falls into a band. The band determines the student contribution amount for the course.
Amounts listed in the table below are based on a standard, full-time study load (96 credit points per year) with all courses in the same band. A proportionate fee applies for more or less than the full-time study load or for enrolment in courses (subjects) from a combination of bands.
You can learn how to calculate your exact tuition fees for units from different bands at Fees for Commonwealth supported students.
Maximum student contribution amount for Commonwealth supported places in 2022 for commencing students
Student contribution band by course (subject) |
Maximum annual student contribution amount (per EFTSL) in 2022 |
|---|---|
Education, Postgraduate Clinical Psychology, English, Mathematics, Statistics, Nursing, Indigenous and Foreign Languages, Agriculture |
$3,985 per standard year $498 per standard (12 credit point) course |
Allied Health, Other Health, Built Environment, Computing, Visual and Performing Arts, Professional Pathway Psychology, Professional Pathway Social Work, Engineering, Surveying, Environmental Studies, Science, Pathology |
$8,021 per standard year $1,002 per standard (12 credit point) course |
Dentistry, Medicine, Veterinary Science |
$11,401 per standard year |
Law, Accounting, Administration, Economics, Commerce, Communications, Society and Culture |
$14,630 per standard year |
HECS-HELP Loans
The Australian Government provides financial assistance via the HECS-HELP loan scheme, which allows eligible students (such as Australian citizens or holders of an Australian permanent humanitarian visa) to defer payment of up to the full amount of their student contribution.
SA-HELP Loans
You may be eligible to apply to defer payment of the Student services and amenities fee (SSAF) through the SA-HELP loan scheme. If you use SA-HELP, the amount will be added to your accumulated HELP debt.
How does a HELP loan work?
If your FEE-HELP and/or SA-HELP loan application is successful, the Australian Government will pay RMIT, on your behalf, up to 100% of your fees. This amount will become part of your accumulated HELP debt.
You only start repaying your accumulated HELP debt to the Australian Government once you earn above the minimum income threshold for repayment, which is set each year by the Australian Government (this also applies if you are still studying). The Australian Taxation Office (ATO) will calculate your compulsory repayment for the year and include this on your income tax notice.
For more information about loan repayment options see Commonwealth assistance (HELP loans) or Study Assist.
In addition to tuition fees, you will be charged an annual student services and amenities fee (SSAF), which is used to maintain and enhance services and amenities that improve your experience as an RMIT student.
The SSAF is calculated based on your enrolment load and the maximum fee for 2022 is $315.
For more information about calculating your actual SSAF see Paying SSAF.
You may also be required to purchase other items related to your program, including field trips, textbooks and equipment. These additional fees and expenses vary from program to program.
The annual tuition fee for 2022 is AU$39,360.
The total indicative tuition fee for 2022 commencement is AU$120,960.
In addition to tuition fees you also need to pay for:
- Student services and amenities fee (SSAF) in each calendar year.
- Overseas Student Health Cover (OSHC) - Student visa holders must have cover for the total duration of their visa.
- Some programs incur additional expenses.
You also need to account for your living expenses. Estimate the cost of living in Melbourne.
Applying for refunds
Find information on how to apply for a refund as a continuing international student.
Looking for answers or more general infomation?
For frequently asked questions or how to find more information regarding applications and enrolments, fees, student support services, university policies and more, please visit our Frequently Asked Questions.