DEFINITION of Melbourne Business School
The Melbourne Business School (MBS) offers both law and business degrees, as well as programs in marketing, management and research. The Melbourne Business School is also known for its centers of excellence that focus on various business-related topics and objectives.
BREAKING DOWN Melbourne Business School
Located in Melbourne, Australia, the Melbourne Business School was founded in 1963 and has the distinct honor of awarding the first master of business administration (MBA) degree in Australia in 1965. The school is also unique in that it is co-owned by the University of Melbourne, which owns 45%, and several Australian businesses, which own the other 55%.
Degrees Offered by Melbourne Business School
Degrees offered by Melbourne Business School include:
Masters in Management
- Accounting and Finance
- Human Resources
They also offer a master's in international business, part-time, full-time and executive MBA programs, PhDs and certificates in leadership and strategic marketing.
Campus Life and Applying
The main campus of MBS is located in Carlton, a suburb of Melbourne within walking distance to the Central Business District. Executive classes are also taught at the Mt. Eliza campus, which was the Mt. Eliza Business School before the two institutions merged in 2004, on the Mornington Peninsula. Students are offered the opportunity to participate in a wide range of enrichment programs, including competitions, community engagement and workplace opportunities.
Anyone interested in attending MBS must take the graduate management admission test (GMAT), and those recently accepted have had an average score of 705. Applicants should also have two years of relevant work experience and will need to provide their CV, academic transcript, a personal statement and two professional references.
Tuition and Scholarship Opportunities
In 2018 the cost of the full-time MBA program was A$85,470 for domestic and international students. International students are required to carry health insurance while they attend the school, which is an additional cost. Many scholarships are available to MBS students. Graduate and research students can apply for domestic or international scholarships based on merit and/or major. Some scholarships must be applied for during certain rounds (semesters), while others can be applied for at any time.
In 2017, the Melbourne Business School's MBA was ranked 76th worldwide by The Financial Times, and its marketing program was ranked third. Graduates of MBS have gone on to become CEOs of hospitals, businesses and newspapers, politicians, police chiefs and chairmen.