Many students appearing for their GMAT usually look to achieve a higher score not only to get admitted to their favourite top B-school, but also to garner a scholarship that will help them financially achieve their goals of studying at the best college or university with a brighter future.
However, it is not as easy as it seems. And also it is not at all impossible to score well and get the scholarship offered by many top B-schools.
The only way to get the scholarship is basically, to study diligently and consistently. You also need to stay motivated constantly throughout your preparatory phase.
With that being said, students do have a lot of queries when it comes to scholarships being offered by the top B-schools.
Different universities have different demands when it comes to offering scholarships. They consider various factors before granting scholarships to the students.
Here in this blog, we have described all the details that you would need to cover for the scholarship for an MBA at a top B-school.
What is a Good GMAT Score for MBA Scholarships?
As a general rule of thumb, to get admitted to the best and top most MBA schools, you need to get a score of 700 or 700+. And to get a scholarship in the 1st 10 top B-schools, you would need around 730+ score in your GMAT.
However, it is equally important to note that a mere high GMAT score isn’t the only factor determining whether you would get a scholarship for an MBA at the top B-schools. Many times, universities also consider your financial background and many other factors.
Is There a Scholarship for MBA Through GMAT?
Your Scholarship for MBA to one of the most privileged universities will greatly depend upon your GMAT score. However, according to the GMAC (Graduate Management Admissions Council) there are several institutes and universities that take other factors into account to grant you a scholarship.
You will have to search for the list of such colleges and apply to them rather early.
Top GMAT Scholarships for Indian Students
Considering the rising number of students applying for the GMAT exam itself, you can very well guess the actual competition out there to attain scholarship to the best MBA SChools abroad.
As an Indian student, you would wish to apply for many MBA schools whether in the US, or UK, Australia, etc. in order to garner a scholarship at the Top B Schools.
Here is a list of the 5 top scholarships for Indian Students:
- The Stanford Reliance Dhirubhai Fellowship
- Joseph Wharton Fellowships
- Harvard Business School Fellowship Programs
- Dr. Tahir Fellowship for Haas School of Business
- Emerging Economy Fellowships at Wharton School of business
GMAT Scholarships 2024 – Eligibility & Availability
Now, almost everybody is eligible for the GMAT scholarships in 2024, provided you are applying based on either your merit or need based.
Here is a list of factors that make you eligible for a good scholarship at universities abroad and stand you a great chance of acquiring the same.
- A great GMAT score more than 730+
- Your undergraduate GPA
- Leadership and personal qualities
- Value you would be adding to the program of your choice and your personal interests including your overall perspective
- Your overall Work experience, relevant or other
- And the reason you wish to acquire admission to that particular college.
How to Boost Your Chances of Getting an MBA Scholarship Through GMAT?
Most of the time, students are rather confused about applying for scholarships to their favorite universities owing to little or no information about the same.
Also, students believe that it is just a matter of luck and good timing to attain GMAT scholarships.
However, it is not as simple as that. You really need a great GMAT score for a start for the MBA schools to award you their scholarships.
Thus, if you are already working hard and diligently to score 700+ in your GMAT to get admitted to the best college, you might as well prepare a little more harder and keep a goal of achieving around 730+.
You simply need to raise your competitiveness factor and be eligible for a great scholarship abroad.
How Much Score Do You Need in GMAT to Get Scholarships?
As mentioned earlier, you clearly need anywhere above 700 to get admitted to the best B-schools abroad. However, in order to get the scholarship from your topmost and favorite B-school, you will have to strive a little harder and get a score of 730+ no matter what.
This will certainly increase your chances of getting a good scholarship at a great B-school abroad. Now, again it completely depends upon which institute you are applying to and is the scholarship need based or merit based.
How to Get Top MBA Scholarships Despite a Low GMAT Score?
Despite a low GMAT score, you can certainly try applying to the universities offering a need based scholarship and try your luck for the same.
Can a GMAT Score Provide Scholarships Abroad?
The short answer is YES!
A great GMAT score above 730 will surely pave the way for a good scholarship program at a great B-school out of India. There are certainly many institutes that offer merit based scholarships to increase your chances of getting their scholarships. You can try looking up for the same.
How to Get a Scholarship for an MBA in Canada for Indian Students?
Here are a few topmost universities in Canada that have really great scholarship programs for the Indian students.
- Haskayne School of Business
- Ivey MBA scholarships in Canada
- Schulich School of Business scholarships
- Rotman School of business scholarships, etc.
There are several specific eligibility criteria to get admitted to the big B-schools in Canada that you must fulfil to avail the scholarship programs.
How to Get a Scholarship for an MBA in the USA for Indian Students?
USA certainly has a really good number of great MBA schools that offer the best MBA programs in the world. Students have to compete really hard and have to score really higher than a 730+ score in their GMAT in order to avail these scholarships. However, there are some exceptions where universities do offer a need based scholarship program as well.
How Can I Apply for a Scholarship in the GRE/GMAT?
You have to constantly keep your eyes wide open. You cannot simply let go of your chances of applying for a great scholarship program in case you score a little lower than the said 730+ score in your GMAT.
It is indeed important to get to know about the various eligibility criteria for the various universities abroad. You never know, you might just get a good scholarship based on your prior work experience, your interest and personality and even your overall academic background.
With all that being said, in case you are really wondering how to apply for a GMAT scholarship, we have your back.
We at MBA Wizards, make sure that you as our student get your hands on every single piece of information related to your GMAT score and how you can get through your favourite MBA school with a dream score and secure a great scholarship there as well to help you with great financial aid.
Visit us at: https://www.mbawizards.co.in/ for more details.