The Royal Melbourne Institute of Technology (RMIT University) is one of Australia's oldest and leading higher education institutions and is known for having the highest graduate employment rate in Australia. It has three schools: the School of Business; the School of Design and Social Sciences; and the School of Science, Engineering and Technology. The School of Business is one of the leading business and management programs in Australia and Southeast Asia. When RMIT was first established in 1887, it was a vocational training college. Its reputation was built on the fact that its programs were designed to meet the needs of the community for a variety of employment opportunities. Today, 120 years later, RMIT has become a world-renowned polytechnic university, and RMIT is among the world's leading universities.