Research on peer learning in higher education indicates that learning from and together with peers can benefit students in a number of ways. Within higher music education in Western, classical music, however, the master-apprentice tradition with its dominant one-to-one mode of tuition focuses predominantly on knowledge transmission from teacher to student. The role students can play in one another's learning processes is often less articulated. In this essay, peer learning is discussed based on experiences from projects carried out at the "Centre of Excellence in Music Performance Education," which explore peer learning as part of the students' principal instrument study. Peer learning in music academies is not restricted to students, however. Teachers can also benefit from engaging in collaborative learning with their fellow teachers. Drawing on experiences from a series of international seminars for teachers in higher music education, the potential and challenges of peer learning among conservatoire teachers are also discussed.