Postgraduate students face significant challenges such as feelings of isolation, lack of guidance, and negotiating multiple identities. Navigating these challenges can adversely impact wellbeing, self-efficacy, and achievement. To combat these issues, a peer mentorship ‘buddy’ programme was piloted. This buddy programme formed buddy groups, consisting of one doctoral student (as the buddy group leader) with three to four pre-doctoral postgraduate students (as the buddies), which met fortnightly during the semester. Ten participants engaged in semi-structured interviews, and the transcripts were analysed using a thematic analysis approach. Identified benefits to participants of the buddy programme included improved social resources, expanded skillsets, improved confidence, increased enjoyment and motivation, career advancement, improved ability to navigate postgraduate applications, improved sense of belonging, improved coping through COVID-19 lockdowns, and increased collegiality. More specifically, benefits of the buddy programme, as voiced by the participants, included gains in wellbeing, academic attainment, and resilience. Given the estimated cost of NZD$400 per buddy group, as well as the openly provided resources developed from this study, tertiary institutions may consider implementing similar low-cost programmes to support their postgraduate student populations.