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
  • Accounting and Finance
  • Finance
  • Human Resources
  • Marketing

Specialist Masters

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 Financial Times magazine, 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.

RELATED TERMS
  1. London Business School

    The London Business School is a school of international business ...
  2. Mays Business School - Texas A&M ...

    The Mays Business School is the business school of Texas A&M ...
  3. Kellogg School of Management

    The Kellogg School of Management is the business school at Northwestern ...
  4. Wisconsin School of Business

    The Wisconsin School of Business is part of the University of ...
  5. IE Business School

    IE Business School is a non-profit, independent educational institution ...
  6. Columbia Business School

    This is one of the top business schools in America and is located ...
Related Articles
  1. Personal Finance

    The Pros And Cons Of Going Abroad For Your MBA

    The U.S. maye dominate business school rankings, but there are many opportunities abroad.
  2. Personal Finance

    5 Top Business Schools in America

    These schools produce many of the most successful business grads and offer some of the best education in business and management.
  3. Insights

    Top European MBA Programs: The Short List

    The London Business School is currently ranked second best in the world right after Harvard Business School. These European business schools also offer outstanding MBA programs.
  4. Insights

    Wharton Ties with Harvard as Best Business School

    Stanford GSB drops two places, MIT Sloan moves up.
  5. Personal Finance

    Which Business Schools Are the Most Selective?

    Standing out in a sea of exceptionally qualified applicants can be tricky. Here are a few tips on applying.
  6. Financial Advisor

    Insider's Guide To The Top U.S. Business Schools

    The best business school for you depends on your skills, career goals and interests. We help future MBA's make a more informed choice.
  7. Personal Finance

    Part-Time Vs. Executive MBA: Which One To Pick?

    In general, there are two routes a prospective student can take when pursuing an MBA: a full-time or a part-time program. Although both options will lead to a degree, there are trade-offs that ...
  8. Financial Advisor

    Should You Get A CFA, MBA Or Both?

    These certifications require time and money, but combined programs are making obtaining both designations more realistic.
  9. Personal Finance

    How Much Does Your Undergrad GPA Matter When Applying To An MBA Program?

    When applying to a business school, an important metric is an applicant's undergraduate GPA. But other features of an MBA application are also important.
  10. Personal Finance

    Should You Get An MBA?

    If an MBA won't make it easier for you to reach your goals, it may be worth considering some alternatives.
Trading Center