MBA Scholarships to Study in India and Abroad

by Ankita Sabharwal

This article gives a list of MBA Scholarships that are available for Indian students to study in MBA Colleges in India and Abroad.

There is an increasing demand for MBA and also, there is a huge cost involved especially if it is pursued from outside India and thus a lot of organisations are providing Scholarships to the meritorious students based on their need. These MBA Scholarships are being provided not only by Government of India but also by private organisations and Foreign Governments. In this article, we will have a look at MBA Scholarships offered to pursue MBA in various reputed B-Schools located outside India.

Content of the Article

  • Why is MBA course so popular
  • The Selection Criteria for entry in the top B schools
  • Cost of pursuing MBA
  • List of MBA Scholarships for Indian Students in Foreign Countries

Top MBA Schools around the world

Some of the Global Top B-schools are:

  • Stanford Graduate School of Business
  • Harvard Business School
  • London Business School
  • Wharton Business School
  • Columbia Business School
  • Oxford University Said Business School

Selection Criteria of MBA Colleges

For admission into Top Business Schools, it is not enough to have good academic records, many other factors are equally responsible for selection into a good B-School. Some of the desired traits of profile of MBA aspirants are listed below:

Academic Requirement:

  1. A good GMAT Score
  2. Above average score in qualifying degree examination.
  3. Impressive TOFEL / IELTS Score.

Personal/Career Requirments:

  1. Widespread Evidence of career progress
  2. Education related relevant experience with established employer
  3. Exceptional letters of recommendations.
  4. Career goals reflect a sense of purpose: passion, meaning, significance.
  5. Evidence of leadership
  6. Evidence of self-awareness
  7. Convincing motivations for pursuing an MBA

Cost of pursuing MBA from institutes outside India


Going for an MBA may be a decision of a lifetime, so before making the decision let us not forget the financial aspect of the decision. For example Annual fee structure of Stanford Graduate School of Business, which is among the top most B-Schools is around $100000

To cope with these expenses students can depend on upon financial assistance from their parents, banks or from other sources.

List of MBA Scholarships

Now the question arises, from where you can get help in arranging funds for MBA?

Here is the answer, if you are really good in studies and can show your potential at the time of the interview, there are chances that the institute will itself offer you the scholarship as most of the top ranked Business schools in the USA offers scholarships to the meritorious candidates. Candidates can make application for the scholarship after getting admission in the desired institute.

We have listed some of the scholarships offered by various Government and private bodies, which are available on various MBA Programs. The list of Scholarships has been divided on the basis of scholarships offered by Indian or Foreign Governments and Scholarships offered by private bodies:

MBA Scholarships by Government of India / Other countries

Chinese Government Scholarship

  • Offered by: Government of People's Republic of China
  • B-School: B-Schools in China.
  • Amount of Scholarship: CNY 70200 per annum (Approx. Rs.717, 000)

MEXT scholarship for higher studies in Japan

  • Offered by: Government of Japan
  • B-School: B-Schools in Japan
  • Amount of Scholarship: 144,000 Yen per month (Approx. Rs.76500)

National Overseas Scholarship for ST

  • Offered by: Government of India
  • B-School: B-Schools anywhere outside India.
  • The amount of Scholarship: Tuition fee of the institution + monthly stipend of USD 15,400 (Approx. Rs.970000)

National Overseas Scholarship for OBC Students

  • Offered by: Government of India
  • B-School: B-Schools anywhere outside India.
  • The amount of Scholarship: Tuition fee of the institution + monthly stipend of USD 15,400 (Approx. Rs.970000).

National Overseas Scholarship for SC students

  • Offered by: Government of India
  • B-School: B-Schools anywhere outside India.
  • The amount of Scholarship: Tuition fee of the institution + monthly stipend of USD 15,400 (Approx. Rs.970000).

MBA Scholarships by Private Bodies Universities to study Abroad

Stanford Reliance Dhirubhai Fellowship for Study in USA

  • Offered by: Reliance Industries Limited
  • B-School: Stanford Global School of Business, USA
  • Amount of Scholarship: USD 140000 per year (Approx. Rs.9140000)

NTU-MBA Scholarship for Study in Singapore

  • Offered by: Nanyang Technological University (NTU)
  • B-School: Nanyang Technological University (NTU), Singapore
  • Amount of Scholarship: USD 55,000 per trimester (Approx. Rs.3490000)

GREAT Scholarship Programme for study in UK

  • Offered by: British Council, India
  • B-School: 57 participating institutions from the UK including England, Wales, Scotland and Northern Ireland.
  • Amount of Scholarship: Total Scholarships worth 1.5 million pounds (Approx. Rs.150000000)

Inlaks Scholarship

  • Offered by: Inlaks Shivdasani Foundation
  • B-School: Top institutions from American, Europe, and the UK
  • The amount of Scholarship: Tuition fees + Living expenses + One-way travel.
  • Inlaks Scholarship for study in the USA, UK & Europe 

Study MBA in Zagreb with a Scholarship

  • Offered by: Zagreb School of Economics and Management (ZSEM)
  • B-School: Zagreb School of Economics and Management, Croatia
  • The amount of Scholarship: Partial Tuition fee waiver.

Tagesspiegel Entrepreneur Scholarship

  • Offered by: Tagesspiegel (The German Newspaper)
  • B-School: European School of Management and Technology
  • The amount of Scholarship: Partial Scholarship of up to 40000 Euro (Approx. 28,00,000 INR).

INSEAD Antonio Borges Endowed Scholarship

  • Offered by: INSEAD
  • B-School: INSEAD Asia Campus at Singapore
  • Amount of Scholarship: Partial Scholarship of up to € 10,000 (Approx. 7,40,000 INR)

University of Queensland MBA Scholarship for study in Australia

  • Offered by: University of Queensland
  • B-School: University of Queensland Business School, Australia
  • The amount of Scholarship: Complete wavier of the Tuition fee.

Richard Metzler Scholarship 

  • Offered by: Foundation for Excellence in Management Consulting (FEMC)
  • B-School: Any B-School in the US.
  • The amount of Scholarship: The prize is a total of $5,000, may be divided into a maximum of 3 students.

Gotchosen Monthly Scholarship

  • Offered by: Gotchosen
  • B-School: Any B-School in the US.
  • The amount of Scholarship: USD 5,000.

UST MBA Outreach Scholarship Program

  • Offered by: University of ST. Thomas
  • B-School: OPUS College of Business
  • The amount of Scholarship: Full Tuition fee.

MIB School of Management of Trieste MBA Scholarship

  • Offered by: MIB School of Management of Trieste
  • B-School: MIB School of Management of Trieste
  • The amount of Scholarship: Full Tuition fee.

Nottingham University MBA

  • Offered by: Nottingham University
  • B-School: Nottingham University Business School, UK
  • The amount of Scholarship: Up to Full Tuition fee.

Haas MBA Scholarship

  • Offered by: University of California
  • B-School: Haas School of Business
  • The amount of Scholarship: Up to Full Tuition fee.

Darden Jefferson Fellowships

  • Offered by: University of Virginia
  • B-School: DARDEN School of Business
  • The amount of Scholarship: Up to Full Tuition fee.

MBA Scholarships for Study In India

Reasons for Popularity of the MBA Course

 

Let us have a look at the reason of popularity of MBA programs: 

Progress in Career: At times, professionals feel stuck at their current positions in their organisations. To make a transition from mid-level role to a senior management position, going for an MBA program is a right decision. Depending upon the industry they are involved in, one can select any of the specialisation like  Accounting, Entrepreneurship, Finance,  International Business, Healthcare Administration, Human Resources, Information System, Management Science, Marketing, Operations Management, Organizational Design, Project Management, Real Estate, Risk Management & Strategy 

Knowledge: Knowledge helps in the professional growth, but the knowledge gained from books and the Internet is not always enough. The interactions between peers and teachers at reputed B-School is very enriching and the teaching methods adopted at top B-Schools such as case studies, projects and presentations help the professionals in developing a 360 view to manage people and related matters. 

Personal Growth: MBA programs at any reputed B-school gives a totally new perspective, enabling a person to think in a different direction. Doing MBA from a reputed B-School have proved to be a life-changing experience for many professionals. 

Networking: Networking at Business School means carrying the same tag as thousands of alumni. You may not have studied together, but there is always some immediate bonding or affinity toward someone from the same B-School. 

Brand Equity: Recruiters prefer candidates from reputed B-Schools as they are already aware of the tough selection process. Rigorous MBA programs refine the qualities of the candidates. So doing MBA from a Top B-School is like having a brighter coloured feather in your cap. 

Master of Business Administration is one of the most prestigious and sought after degree program related to Business education. The need for a scientific approach to management in the late 19th century in America led to the origin of Masters in Business Administration Degree Program. The popularity of MBA program can be estimated by the facts that in the present global scenario, more than 22,000 individuals from the UK and over 90,000 individuals from the USA enroll in MBA Programs every year.

If you have any question regarding MBA Scholarships to study abroad you can write in the comments section below.

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