This followed her 2010 appointment as an Officer of the Order of Australia (AO) for 'service to business as a leader and mentor in the fashion industry and to the community through advisory and management roles of a wide range of arts, health and philanthropic bodies.' In 2015 she was awarded the Australian Institute of Architects President’s Prize for her establishment of the MPavilion project in Melbourne. Milgrom has also received an Honorary Doctorate of Business from RMIT University in 2010, a Distinguished Alumni Lifetime Achievement Award from Monash University in 2010, Creative Partnerships Australia Philanthropy Leadership Award in 2016 and an Honorary Doctorate of Business from the University of New South Wales in 2016.