-ShilpaLalwani
An MBA/PGDM degree can help the students to brighten up their CV and can certainly boost their career. The degree helps the students as well as the working professionals to advance their knowledge, ethics, and skill set to perfectly adapt into the business community.
However, the financial burden of this can be very high for many PGDM/MBA aspirants. Taking into consideration the high fees, there are severalcolleges/institutions and organisationsthat offer scholarships to complete the said degree.If you are keen on joining a reputed PGDM/MBA institute in India and want to give a boost to your career, but the expenses are point of worry, then you may go ahead to apply for a scholarship.
Taking high fees into consideration, many institutions and organisations offer scholarships for MBA studies. If you are keen to join a reputed PGDM/MBA institution in India and want to boost your career, but expenses are coming as a hurdle in your way, then you need a scholarship
There are several Institute based scholarship offered by top B-Schools in India. These scholarships are awarded on the basis of academic and overall performance during the PGDM/MBA program or other similar criteria.
The best and most preferred way to earn PGDM/MBA scholarships is through a high GMAT exam score. This is because the GMAT is considered to be one of the most important indicators of academic achievement.
Certainly, PGDM/MBA programs care about applicants with high GMAT scores because of the string correlation between test performance and performance during the course, but they care also for the fact that the GMAT is anelement of the U.S. News MBA ranking. B-schools consider this ranking to maintain or increase their course program’s ranking.
Along with a high GMAT score, personal application with essays, extraordinary performance in the personal interview, and general knowledge is important.
Another critical factor is the level of business school one is applying to. For applying to a lower-ranked B-schools, there is a good chance of getting a substantial scholarship, combined with a great application. Given the strong competition for admission in thehigher ranked institutions, the competition increase for MBA scholarships.
Top MBA Scholarships in India include:
- Institute Based MBA Scholarships in India: Offered by most of the MBA colleges like IIMs, XLRI, MDI, SPJIMR, TAPMI
- Corporate Sponsored MBA Scholarship: Like Aditya Birla Scholarship for MBA in IIM and other top B-schools; O P Jindal Scholarship, Alumni Sponsored MBA Scholarship
- Government Sponsored MBA Scholarship: This MBA scholarship is offered in IIMs, IITs and other Government management colleges
- Banks’ Sponsored MBA Scholarship: Offered by PNB Housing Finance, IDFC among others
The All India Council for Technical Education (AICTE) offersPost Graduate Scholarship of Rs. 12,400/- per monthfor the purpose of ensuring the development of technical education in India. The scholarship is awarded to full-time GATE/GPAT qualified students which are admitted to AICTE approved PGDM/MBA Institutions/ University Departments.The duration of the scholarship scheme offered is as follows: The Scholarship is tenable for a period of 2 years or for the duration of the course i.e. from the date of commencement of classes till the date of completion of the classes whichever is lower and is not extendable under any circumstances.
Considering Jagannath International Management School, the scholarship is offered by the Institute with the following criteria-
25% Scholarship to students with 700 in MAT/ 80%ile CAT and 65% in X, XII and Graduation.
15% Scholarship to students with 650 in MAT/ 75%ile CAT and 60% in X, XII and Graduation.
10% Scholarship to students with 600 in MAT/ 70%ile CAT and 60% in X, XII and Graduation.
Special Scholarship
50% Scholarship to students with 85%ile CAT and 65% in X, XII and Graduation.
Exceptional cases
At top B-schools like Harvard Business School and Stanford Graduate School of Business, the scholarship program is exclusively need-based such that the aspirants must have strong financial need to earn a great scholarship.
Important points to keep in mind
Most PGDM/MBA scholarships are merit-based, and in order to secure a most satisfying offer from a top business school, the best way is to obtaina great GMAT score, write an impressive application, and negotiate your offers once you receive them.
For more information visit: https://www.jagannath.org/
