I'll definitely complete the MAF on a part-time basis in Melbourne. A few of the younger guys I work with are doing the MAF from Macquarie, and a few of the managers and above have the MAF from Melbourne. Hence that is my reason why I'm so indifferent between the two institutions.
The most annoying thing for the MAF from Melbourne is that now you have to complete the GMAT and submit a personal statement. This process is similar to that of other postgraduate finance courses in the UK and US. I think this is Melbourne's way of saying that they only want the better student candidates and want to further mimic the leading UK and US institutions in academic standards. Furthermore, the Melbourne MAF only offers like 80-100 spots for their program, whereas, the Macquarie MAF offers 800 worldwide.
Having had done some research, the Macquarie MAF is quite extensive and is a CFA partner institution, which gives it more pull and weighting with employers and industry (not to say that it replaces the CFA knowledge base and standard). The subject offerings substantially outweigh those offered by Melbourne, which are more narrow-focused.
In summary, my personal pros and cons of the two programs are:
MAF from Macquarie:
Pros -
1. Breadth of subjects is very extensive and allows specialisation in asset/funds management, corporate finance and financial instruments
2. It is a CFA partner institution
3. Has a large in-take and offers greater flexibility for part-time candidates
4. Has been one of the leading providers of Applied Finance around the world, and hence it has become the largest course provider in this field.
5. A more practical course with an extensive practitioner network of lecturers and academic staff
Cons -
1. The institution name isn't as recognised in comparison to Melbourne in terms of worldwide rankings and 'quality of teaching'
MAF from Melbourne:
Pros -
1. The Melbourne name is very well regarded internationally
2. Potential 1 or 2 subject exemptions from my BCom studies (still subject to approval)
3. Candidates are at a certain calibre and the interaction between lecturer and student will be better
4. A more theoretical course, which is in-line with the leading institutions around the world.
Cons -
1. Requires submission of GMAT and personal statement
2. Isn't as practical
4. A relatively new course (began in 1994) compared to Macquarie
That's just my analysis. It would be great to get other people's opinions.
