FAQs

FEE-HELP is a loan scheme from the Australian Government that assists eligible fee-paying students (both full-time and part-time) to pay their tuition fees. FEE-HELP can cover all or part of a student's tuition fees. The Australian Government pays the amount of the loan directly to the University. Students then repay their loans through the Australian taxation system when their income is above the minimum repayment threshold.

Australian citizens and holders of a New Zealand Special Category visa (SCV) or permanent humanitarian visa are eligible for FEE-HELP assistance.

Detailed information on FEE-HELP can be found at StudyAssist.

A Commonwealth Supported Place (CSP) is a higher education place for which the Australian Government pays the majority of the costs. Students in a CSP pay a lower course fee, known as the student contribution amount.

• An Australian citizen
• New Zealand citizen; or the holder of a permanent visa; and you must be a resident in Australia for the duration of your unit (subject).

The number of CSPs is limited and selection is based on academic merit. CSPs are available for both full and part time study.

No. You will need to check on the course page to see which of our courses have CSPs available.

Detailed information on CSPs can be found at StudyAssist.

A loan scheme called HECS-HELP is available for eligible students (both full-time and part-time) that can cover all or part of the student contribution amount. The Australian Government pays the amount of the loan directly to the university. Students then repay their loans through the Australian taxation system when their income exceeds the minimum repayment threshold.

Australian citizens and holders of a New Zealand Special Category Visa (SCV) or permanent humanitarian visa are eligible for HECS-HELP assistance.

More information on HECS-HELP can be found at StudyAssist.

GMAT = Graduate Management Admission Test

GRE = Graduate Record Examination

The GMAT and GRE assess the qualifications of applicants for advanced study in the specific areas of business and management. The IELTS test primarily measures the English language proficiency of the applicant.

The following courses DO NOT require the GMAT or GRE from any applicant:

• Master of Finance
• Master of Management
• Master of Management (Accounting and Finance)
• Master of Management (Accounting)
• Master of Management (Finance)
• Master of Management (Human Resources)
• Master of Management (Marketing)
• Master of International Business
• Master of Supply Chain Management
• Master of Actuarial Science

The GRE is mandatory for all applicants who have not previously completed an undergraduate degree at an Australian university for the following programs:

• Master of Applied Econometrics
• Master of Economics
• Master of Commerce (Actuarial Science)

The GMAT is mandatory for all applicants to the Master of Business Administration (MBA). The GMAT or GRE are required for entry into all Doctoral Programs.

The GMAT/GRE is required for entry into some of our specialist masters programs to ensure quality of student cohort. It enables Melbourne Business School to assess whether prospective students from diverse backgrounds have the capacity, skills and competencies to succeed at the advanced level of study required by this elite suite of programs.

Undertaking the GMAT/GRE informs not only MBS of your ability and aptitude to undertake our course requirements, but also assists you to understand your strengths and weaknesses, and helps identify areas in which you may benefit from our wide range of student support services. Studying for the test also refreshes your knowledge and skills in mathematics, logic and language and ensures you are well prepared for the daily rigor of MBS academic life. Research indicates that your performance on the test is strongly correlated with your performance in graduate studies.

If you are required to undertake a test for entry to the Master of Applied Econometrics, Master of Economics and Master of Commerce (Actuarial Science) then you are required to sit the GRE.

The GMAT or GRE is not mandatory for applicants who have previously completed an undergraduate degree at an Australian or New Zealand University in Australia or New Zealand.

Exemptions from the GMAT/GRE are applicable if you fit into the ‘humanitarian aid case’ category - i.e. you are an applicant who:

• holds a permanent Humanitarian Visa for Australia
• can demonstrate that humanitarian crisis impacts on your ability to sit the GMAT/GRE (eg, residence in country where there has been a recent critical threat to their health, safety, security or well-being through armed conflict, epidemic, famine, or natural disaster).

OR

Master of Economics, Master of Applied Econometrics, Master of Applied Econometrics (Enhanced) or Master of Commerce (Actuarial Science) applicants who have been admitted under the Australian Awards program.

OR

Master of Applied Econometrics or Master of Applied Econometrics (Enhanced) applicants who are applying following the completion of an undergraduate or postgraduate degree, with a strong analytical and mathematical component, at an institution that is ranked in the top 500 in the Times Higher Education (THE) or QS World University Rankings, or is a Double First-Class list institution in China, at the time of assessment.

Where applicants are applying following the completion of a joint degree (program delivered by two or more institutions), all institutions must meet the above criteria.

You can sit the GMAT and GRE exams once every 31 calendar days and no more than 5 times in a 12-month period.

Our institution codes are as follows:

GMAT
Master of Management = Code: 1ZK-LW-95
Master of Commerce = Code: 1ZK-LW-77
Master of International Business = Code: 1ZK-LW-84

GRE
Code: 5992

Please use the above codes when choosing where to have your results sent. This ensures your official results are sent directly to us.

If you have completed an undergraduate degree in Australia or New Zealand at an Australian or New Zealand institution – at any time – you will not be required to undertake the GMAT/GRE for any program, with the exception of the MBA and Graduate Research Degrees.

The language of delivery is English.

Your test scores on both the GMAT and GRE are valid for 5 years.

The GMAT exam is delivered year-round and on demand in test centres around the world. Visit www.mba.com to find a testing centre near you, determine if that site has available seats and register to take a test. Please ensure you select the Melbourne Business School (code: 1ZK-80-47) to ensure your GMAT results are posted directly to us. 

The GRE is available at about 700 test centres in more than 160 countries. It is offered as a computer-based test year round at most locations and as a paper-based test up to three times a year in areas where computer-based testing is not available. Visit the GRE website to find out which test format is offered in your location and to book a test. Please ensure you select the Melbourne Business School (code: 5992) to ensure your GRE results are posted directly to us.

The cost to take the GMAT exam is US $275 globally.

The cost to take the GRE is US $220 in Australia.

You have four hours in which to take the GMAT and GRE.

Each test contains three sections:

Quantitative
This section is multiple choice  designed to measure a student’s ability to reason quantitatively, solve quantitative problems, and interpret graphic data. There are two types of questions asked, data sufficiency and problem solving.

Verbal
This multiple choice section measures your ability to read and comprehend written material, reason and evaluate arguments and correct written material to conform to standard written English. There are three types of questions asked: critical reasoning, reading comprehension and sentence correction.

Analytical Writing
This short essay writing section is designed as a direct measure of your ability to think critically and to communicate ideas.  This assessment consists of two separate writing tasks, Analysis of an Issue and Analysis of an Argument.

Understand how the test works
The academic level of these standardised tests is the equivalent to the 1st year of university study. The key to achieving a high score is to understand each section and the types of questions that are going to be asked.

Timing
Each section has a set amount of time in which all questions must be answered. A common mistake is that students run out of time. Ensure that you know exactly how much time you have to answer each question. Both the GMAT/GRE take approximately 4 hours to complete.

Adaptive
Normally these test are completed on a computer and they are adaptive which means when a correct answer is given the next question will be harder and when a response is incorrect the next question will be easier.

Practice
Both the GMAT and GRE provide excellent online practice tests and tutorials to assist with preparation. We strongly advise that students download these resources and complete a number of practice tests in order to familiarise themselves with the test and to help target their study.

The GMAT and GRE are standardised tests that are used by leading business schools around the world to assess the qualifications of applicants for advanced study in business and management. The GMAT and GRE help us to make an assessment of your academic potential specific to our programs. They also highlight areas where you may need to strengthen your skills and show us where we can provide you with assistance.

For graduate coursework programs our selection panel generally prefers GMAT focus score of 600 or more or a GRE where the verbal and quantitative scores add to 315 or more.

Applicants to the Master of Applied Econometrics and Master of Economics are required to supply results on the GRE achieving minimum scores in the following bands: 158 in Quantitative, 154 in Verbal and 4.0 in Analytical Writing.

Applicants to the Master of Commerce (Actuarial Science) are required to supply results on the GRE achieving minimum scores in the following bands: 156 in Quantitative, 152 in Verbal and 4.0 in Analytical Writing.

Applications for the Doctoral programs in Actuarial Studies, Business Administration and Analytics can be made all year round.

The closing dates for our five-year doctoral program applications are as follows:

Only domestic students can apply to study part-time. This will also depend on your program and approval from the Selection Committee of the Department.

For the following course, students are required to identify a potential supervisor prior to the submission of an application:

• Actuarial Studies
• Business Administration

For the following courses, students are not required to choose a supervisor prior to commencing the program:

• Accounting
• Economics
• Finance
• Management
• Marketing
• Decision, Risk and Financial Sciences

NOTE: Although you are not required to pre-select a supervisor for most disciplines, admission is still subject to supervisory resources.

Actuarial Studies, Business Administration, and Analytics: any time

Accounting and Economics: Semester 1 only

Finance, Management, Marketing and Decision, Risk and Financial Sciences: Semester 2 only

Generous scholarship packages are available to competitive applicants, including a living allowance (stipend), and a full tuition fee waiver for the duration of the program. For details regarding or scholarship program, please visit FBE Graduate Research Scholarships.