FAQs
What is a Westpac Future Leaders Scholarship?
The Westpac Future Leaders Scholarship supports outstanding postgraduate coursework and research students eager to make a difference in Australia.
The program is designed to foster leadership potential and offers opportunities to gain global experience and life-long access to the W100 Scholars Network. Up to 17 scholarships valued up to $120,000 each are awarded every year to individuals from all backgrounds who are starting postgraduate study at one of our nine partner universities.
How many scholarships will be awarded each year?
There will be up to 17 scholarships awarded each year.
What is the value of each scholarship?
The Westpac Future Leaders Scholarship will provide funding of up to $120,000 to support study, research, global experience and access to the Leadership Development Program. The value of your proposed program of study or research may be less than $120,000, and will depend on the type of course or research program.
Who will the remit funds to the scholars?
The scholarship funding, with the exception of the Leadership Development Program component ($12,000), will be distributed by the universities to scholars.
What is the duration of the scholarship?
While typically the duration of the scholarship will be 2-3 years, it will depend on the proposed program of study. It could range from 1.5 years to 4 years, including an international experience of up to 6 months. Masters by Coursework programs typically range from 1.5 years to 2 years; Masters by Research typically range from 2 years to 3 years; PhD programs typically range from 3 years to 4 years. 4 years is the maximum funding period for PhD applicants.
Do I need academic qualifications to apply for a scholarship?
Yes, you must have completed your first undergraduate degree from 2019 onwards or will complete your degree by 31 December 2024. In this degree you must have achieved, or are on track to achieve, an average result of H1 or H2A equivalent or approx. 75 WAM. You need not have completed an honours year.
You must now want to undertake a Masters by Coursework or Research or a PhD at one of our participating university partners.
What fields of study are applicable for the scholarship?
Your proposed program of study must contribute to the future of Australia in one of the Trust's priority funding areas: Australia in Asia, Thriving Tech Sector, An Inclusive Country and Sustainable Futures.
Do I need to already have received an offer of a place at a participating Australian University prior to submitting an application?
A candidate does not need to have received an offer of a place at a participating Australian university prior to submitting an application, however, if an applicant is successful in being selected for a Future Leaders Scholarship, the award of the scholarship will be conditional upon receiving official confirmation from a participating university of a place in the proposed program of study.
Who can apply?
We’re looking for everyday people with extraordinary ideas. Your ability matches your drive – giving you the potential to make a lasting difference to Australia’s future. We want to help you realise this potential. To be eligible to apply, applicants must:
- Be an Australian citizen or permanent resident.
- Have completed your first undergraduate degree from 2019 onwards or will complete your degree by 31 December 2024.
- Have achieved, or are on track to achieve, an average result of H1 or H2A equivalent or approx 75 WAM.
- Have chosen to undertake a full-time Masters by Coursework or Research or a PhD at one of our participating university partners.
- Commence study in 2025. Current postgraduate students are not eligible. MD and Juris Doctor programs or any Masters by Coursework program longer than two years are also excluded.
- Study in an area that will contribute to the future of Australia in one of the Trust's priority funding areas: Australia in Asia, Thriving Tech Sector, An Inclusive Country or Sustainable Futures.
- Include in your proposed program of study international opportunities which will develop your leadership skills and global networks, such as study tours for the purpose of research, attending a short course or conference, a period of internship or volunteering.
- Have a worthy and viable post-study plan that benefits Australia.
- Supply two letters of reference, one academic reference and one personal reference. Please refer to the reference templates.
- Be able to attend the National Selection Panel to be held in Sydney on 4-5 December 2024 (Westpac Scholars Trust covers the cost of domestic travel and accommodation to attend).
- Be able to attend the Future Leaders Scholars Leadership Development Program in Sydney in mid-February 2025 and another date, to be confirmed, in August; and
- Be able to attend the Westpac Scholars Summit on 7-8 April 2025.
Which universities are participating in the program?
The Westpac Future Leaders Scholarship program is offered at the following universities:
- Australian National University
- Monash University
- The University of Adelaide
- The University of Melbourne
- The University of Queensland
- The University of Sydney
- University of New South Wales
- The University of Western Australia
- University of Tasmania
You may only apply for one university program.
Can I apply if I have already have another scholarship?
No, except for Research Training Program Scholarship (RTP) or equivalent or an equity-based scholarship. Note that for PhD candidates, the Future Leaders Scholarship provides a top-up of 75% of the RTP stipend, over and above the RTP award received.
Can I submit more than one application in a year?
An applicant may only submit one application per year.
If successful, can I defer the scholarship?
No. Recipients will be notified in December 2024 and the study must commence in 2025.
Can I apply in the future if I am unsuccessful?
As long as you meet the eligibility criteria, you can apply for a Westpac Future Leaders Scholarship in future years.
Can I apply if I have already commenced my postgraduate study?
No, the scholarship is only available to students expecting to commence their postgraduate studies in 2025.
Can I apply in the future if I have already received a Westpac Future Leaders Scholarship?
No, you can only receive one Westpac Future Leaders Scholarship.
Do I need to be a Westpac customer or employee?
No. The scholarship is open to all Australian citizens or permanent residents who meet the eligibility criteria.
Can I apply if I am a Westpac employee or related to one?
Yes. The scholarship is open to all Australian citizens or permanent residents who meet the eligibility criteria.
What is the definition of a full-time workload?
For PhD and Masters by Research applicants, for a ful-ltime workload your standard working pattern would be 9am to 5pm, 48 weeks per year. For Masters by Coursework applicants it would be no less than 3/4 of the maximum full-time load.
Are there any exclusions?
For Masters by Coursework applicants only, you must not have already completed a graduate certificate or diploma in the same area of study. However you may have completed another Masters program in a different area of study.
MD and Juris Doctor programs or any Masters by Coursework program longer than two years are also excluded.
I have already completed a Masters. Can I still apply?
Yes, provided you meet all of the eligibility criteria. You may undertake another Masters in a different area of study, or continuing on to a PhD - either of these options is acceptable.
Is an honours year considered undergraduate or postgraduate?
An honours year is considered undergraduate, not postgraduate.
How do I determine my funding request?
You are required to prepare a draft scholarship budget up to $120,000 as part of your application. If your application is successful, the university where you will be taking up your study or research will work with you to finalise the value of your scholarship. The scholarship budget should include the following costs (excluding GST):
- Leadership program.
- University course fees, which may include the fee balance of a Commonwealth-supported place (CSP) course or fee-paying coursework program.
- If applicable, personal stipend or RTP Scholarship top-up.
- Conference and short course fees.
- Equipment and consumables.
- Travel; and
- Publication and dissemination costs.
Please note that your application is not assessed on the amount of your request, but rather the thought and consideration behind your plans (particularly the international component).
Can I use the scholarship to cover (or partially cover) the course costs at a university or educational institution?
Yes, the funding can be used for program fees or tuition where relevant. However, this component is to be no more than 80% of the total funding budget.
What sort of activities can be included in the international component?
The scholarship includes funding for an international component. Overseas travel may include study tours for the purpose of research, attending a short course or conference, a period of internship or placement at an overseas organisation, volunteering. The international component must be no more than $50,000 of your budget.
Are there any countries that cannot be included in the international component?
Travel to countries with a Level 3 (reconsider your need to travel) or Level 4 (do not travel) rating by the Australian Department of Foreign Affairs and Trade are not to be included. Countries Alert Levels are listed on the smartraveller.gov.au website.
Will scholars be required to hold travel insurance while undertaking their international component?
Scholars and spouse, partner or dependent(s) must be covered by appropriate health and travel insurance (including coverage for existing conditions) for the duration of their time overseas.
Will the Westpac Future Leaders Scholarship cover travel for my spouse, partner or dependent(s)?
No. Scholarship funding will only cover costs for the scholar.
How should I calculate the expenses for the travel budget?
There is a $50,000 maximum for your travel component. All flights should be costed based on economy airfares and accommodation on reasonably priced (3-4 star) hotels or serviced apartments. You should also include allowances for transport, conference fees or short course fees that enhance your studies.
Can the scholarship cover my living expenses?
You can include an allowance for living expenses the program that equal to the Research Training Program (RTP) stipend amount (e.g. $32,192 for 2024, indexed annually). If you are the recipient of an RTP, you are still eligible to apply however the stipend for the Future Leaders Scholarship is limited to a maximum of 75% of the RTP stipend amount. Note that this is over and above the RTP (e.g. you would receive $24,144 for the Future Leaders Scholarship + $32,192 for the RTP = total of $56,336 annually).
Are there any other guidelines for components of my program budget?
In addition to the travel and living expenses, there is a mandatory cost of $12,000 to attend the nine-month Leadership Development Program to be included in Year 1. Any cost allocated to publication and dissemination are to be no more than 2% of total budget. Also, do not include GST on any items.
Capital items/operational infrastructure costs or costs not directly related to studies (e.g. gym membership, professional association fees, fees for patent applications, costs of dependents, mobile phones) are not to be included in budget.
Will Westpac Scholars Trust provide scholars with taxation advice?
Scholars are responsible and encouraged to seek taxation advice regarding their individual circumstances. Westpac Scholars Trust makes no representation or warranty in relation to the taxation implications of any funds provided by the Trust to a Scholar.
When can I apply and when do applications close?
Applications open on Thursday 4 July 2024 and close at 5:00pm (AEST) on Thursday 29 August 2024.
How do I apply?
All applications must be submitted through the Westpac Scholars Trust’s online application system. This online system is accessed via the Westpac Future Leaders webpage.
A PDF version of the application is available to download in the application portal to make it easier to plan your answers. Note that you will be unable to progress to the next section of the application without text in the fields and we recommend that you create a text placeholder to allow you to progress if you'd like to work ahead.
Before submitting your application please ensure you have checked your answers and supporting documents as applications cannot be re-submitted or amended after submission.
What is required to be a strong applicant?
Selection is based on a candidate’s outstanding academic achievements, world-class program of study, and focus on one or more of the Westpac Scholars Trust's priority areas. Successful candidates will be able to demonstrate the following:
- Academic excellence and achievements to date.
- The ability to articulate how their proposed program of study has the potential to contribute to the future growth and prosperity of Australia in one of the Trust’s priority funding areas.
- The attributes of a Westpac Future Leaders Scholar (see Appendix A in the Funding Guidelines); and
- A strong sense of connection to Australia and the desire to give back.
What supporting documentation is required?
The following support documentation is required to be submitted with the online application:
- CV.
- All university academic transcripts.
- Two references are required using the reference templates which are located on the Westpac Scholars Trust's website (these will be available when applications open on 4 July). The referees you select should be people who consent to being contacted by the Trust.
i. the first is an academic reference and needs to be completed by a person who is familiar with your academic record and understands the importance of your study program.
ii. the second is a personal reference and needs to be completed by a person who can demonstrate that you have the attributes of a Westpac Scholar. This can be a previous work colleague or manager, however, should not be a family member or a person who currently or previously reported directly to you. At the time of the application, you must have known this person for a minimum of two years.
- For PhD and Masters by Research applicants, you must also supply one letter of support from either your supervisor, Dean of the Faculty or Head of School or equivalent.
- A recent photo - a high resolution headshot image is preferred (note this is not not part of the assessment, it is an identification tool to assist assessors in later stages of the selection process).
Download the letter of support and reference template documents.
You may be required to present proof of citizenship or permanent residency at any time during the selection process. Applications received without the above-mentioned supporting documentation will not be considered by the Trust.
What makes a good application?
A good application takes time to develop. There are comprehensive Funding Guidelines (PDF 265KB) which you should review prior and whilst you develop your application. In addition, there are a number of questions within the application that contain guidance to assist you in formulating your response. Please be aware many of the sections have specified word limits.
Can you please provide an overview of the selection process?
The selection process is a comprehensive approach that draws on a range of online assessment tools and the expertise of selection panels within the Westpac Scholars Trust, the universities and the National Selection Panel. It consists of four stages:
- Stage 1: Eligibility and quality checks
- Stage 2: Online assessment
- Stage 3: University shortlisting
- Stage 4: National Assessment Centre (interviews) – 4-5 December 2024
- Notification: Mid-December 2024
Please refer to the Funding Guidelines (PDF 265KB) for more detail.
How do I know if the Westpac Scholars Trust has received my application?
Once you have submitted your online application, you will receive an email confirming that your application has been received. This email will include your application number along with a copy of your application. Please double check your junk folder throughout the application and shortlisting period.
When will applicants find out if they are successful?
Applicants who progress to the final stage of an interview with the National Selection Panel will be notified mid-October. Applicants not progressing will also be notified at this time.
Applicants will be notified if they have been successful in obtaining a Scholarship in mid-December 2024.
I missed the application window, can I still apply?
No, late applications will not be accepted.
Can I get feedback on my application if I am unsuccessful?
Unfortunately, Westpac Scholars Trust is unable to provide individual feedback due to the volume of applications we receive. However, we will provide feedback for candidates who attend the National Assessment Centre.
I am having technical problems with the online application system, who can I contact?
Please contact us at westpacscholars@westpac.com.au.
I need more help with my application, who can I contact?
Please be sure to review the Funding Guidelines (PDF 265KB) thoroughly. If you still need help with your application and your problem is not a technical system one, please email westpacscholars@westpac.com.au and we will get back to you as soon as possible.
