The University of Melbourne is one of the leading institutions in Australia and the world, offering a range of graduate programs in business and economics. Among them, the Master of Business Administration (MBA) is a highly sought-after degree that prepares students for leadership roles in various sectors and industries.
If you are interested in pursuing an MBA at the University of Melbourne, you may be wondering about the cost of the program and the financial assistance available. In this blog post, we will introduce you to the different types of scholarships the University of Melbourne offers for MBA students, the eligibility criteria, the application process, and the benefits of receiving a scholarship.
Read on till the end to find out interesting facts about this scholarship and how you can exploit it for your benefit. Let’s get started with the types of scholarships available.
Types of Scholarships for MBA Students at the University of Melbourne
The University of Melbourne offers several scholarships for MBA students, depending on their academic merit, professional experience, personal circumstances, and potential contribution to the MBA community. Some of the scholarships are:
- Dean’s International Management Scholarship: This scholarship recognizes the high caliber of international students who commence the full-time MBA program each year. It covers up to $85,470 towards tuition fees.
- Rupert Murdoch Fellowship: This fellowship is awarded to an Australian citizen or permanent resident who demonstrates outstanding leadership potential and entrepreneurial spirit. It covers the full tuition fees of $85,470 and provides a living stipend of $13,530.
- MBS Scholarships: These scholarships are open to all applicants to the full-time, part-time, or executive MBA programs and are based on academic excellence, professional achievements, and personal qualities. The value of each scholarship varies from $10,000 to $50,000.
Other scholarships target specific groups of students, such as women, Indigenous Australians, social impact leaders, and regional residents. You can find the full list of scholarships and their details on the Melbourne Business School website.
Now that you know the various types of scholarships available, what are the requirements you need to meet to be granted this scholarship?
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Eligibility Criteria for the University of Melbourne MBA Scholarship
The eligibility criteria for each scholarship may vary depending on the type of scholarship you are applying for, but in general, you need to meet the following requirements to be considered for a scholarship:
- You must have a bachelor’s degree or equivalent from a recognized institution with a minimum grade point average (GPA) of 65% or equivalent.
- You must have at least two years of full-time work experience after graduation, preferably in a managerial or professional role.
- You must have a competitive Graduate Management Admission Test (GMAT) score or Graduate Record Examination (GRE) score, or be able to demonstrate strong analytical and quantitative skills through other means.
- It would be best if you had a high level of English proficiency, as evidenced by a minimum score of 7.0 in the International English Language Testing System (IELTS) or equivalent.
- You must have a clear and realistic career plan and show how the MBA program will help you achieve your goals.
- You must demonstrate leadership potential, teamwork skills, ethical values, and social responsibility.
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Application Process for the University of Melbourne MBA Scholarship
The application process for the University of Melbourne MBA scholarship is simple. You do not need to submit a separate application for a scholarship, as you will be automatically considered for all scholarships you are eligible for when applying for the MBA program.
To apply for the MBA program, you need to complete the following steps:
- Create an online account on the Melbourne Business School application portal and fill out the application form with your personal and academic details, work experience, and career goals.
- Upload your supporting documents, such as your academic transcripts, degree certificates, GMAT or GRE score reports, English test results, resume, and passport photo.
- Provide the contact details of two referees who can comment on your professional and academic abilities. They will be contacted by the Melbourne Business School and asked to complete an online reference form.
- Pay the application fee of AUD 200 and submit your application.
The application deadlines for the MBA program are:
- Round 1: 31 October
- Round 2: 15 January
- Round 3: 15 March
- Round 4: 15 May
You are advised to apply as early as possible, as the scholarships are awarded on a rolling basis and may be exhausted before the final deadline.
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Benefits of Receiving the University of Melbourne MBA Scholarship
Receiving a scholarship from the University of Melbourne is not only great financial support but also a recognition of your academic and professional achievements. By receiving a scholarship, you will:
- Reduce the financial burden of pursuing an MBA degree and have more flexibility in managing your expenses and budget.
- Enhance your resume and profile with a prestigious award that showcases your skills and potential to future employers and recruiters.
- Join a network of talented and diverse MBA students and alumni who share your passion and vision for business and leadership.
- Access additional opportunities and resources from the Melbourne Business School, such as mentoring, coaching, career services, and alumni events.
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Parting Words
The University of Melbourne MBA scholarship is a valuable opportunity for anyone who wants to advance their career and education in business and management. The scholarship offers various benefits and advantages for the recipients, and the application process is simple and convenient. If you are interested in applying for the MBA program and the scholarship, you should start preparing your application materials and submit them before the deadlines.