MBA Scholarships Abroad ( USA, Canada, UK ) and India

MBA Scholarships Abroad ( USA, Canada, UK ) and India

Financing an MBA is a common problem, and
not just among those who come from low income backgrounds. Even if you get into a top MBA program, chances
are you’ll not be able to afford it, if you rely only on your personal savings. You’ll have to look at other sources of
funding like education loans and scholarships. The problem with loans is the high rate of
interest and the long payback period. That’s why scholarships are so popular. It’s free money! Over the years, MBA Crystal Ball consultants
have helped tons of applicants get scholarships. Based on our experience, we’ll share how
you can maximize your odds of getting scholarships. For that you’ll first need to understand
what scholarships are, how scholarship decisions are taken, and then create a plan for yourself. So make sure you watch the video till the
end. What are scholarships? Scholarships are generally discounts on the
tuition fee. Which means, you are not getting any extra
money in your pockets. You’re just spending lesser. The proportion may vary, but it generally
applies only to the tuition. You still have to worry about the other costs
of studying – like accommodation, food, transportation, books, and study trips. Why do universities offer scholarships? There are two primary reasons why universities
offer scholarships. The official (and rather philosophical) reason
is to make it is easier for deserving candidates to join the program. While that’s true, the other reason is that
universities are also competing with their rivals to attract the best candidates. These are called merit based scholarships,
as opposed to need-based. There are many external organizations that
also offer scholarships, but we won’t cover them in this video. How do bschools take scholarship decisions? Check out any bschool website and they’ll
talk about how they evaluate an application ‘holistically’ while deciding admits and
scholarships. Along with your GRE or GMAT scores, they will
also consider the following: But despite the holistic approach, the little
secret is that a higher GMAT does significantly improve your odds of being considered for
a merit based scholarship, if you get an admit. Need based scholarships are evaluated slightly
differently. And a higher score improves your chances with
this category too. But getting obsessed with a high score and
neglecting the rest of the application is a bad idea. Our suggestion is to not just position yourself
as a strong candidate to get into the program, but also significantly stronger than the other
candidates who’ve got in. The question is – how? You can do this by balancing the list of bschools,
where you are likely to be viewed as an above average candidate. More on this later. Do the MBA admission rounds influence scholarship
decisions? The admission round you apply in will make
a difference. As a general rule, Round 1 is when the pot
of gold at the end of the rainbow is filled up to the brim. So if you have impressed the Admissions committee
with your application – apart from the cake (that’s an admit from a top school), your
chances of getting a nice little cherry (in the form of a scholarship) will go up. But that doesn’t mean that the golden pot
is empty in Round 2. We’ve had clients who have got substantial
funding in the second round of MBA admissions too. The same criteria will apply in Round 2 for
test scores, essays, recommendations and interview. BUT the battle for freebies will get tougher. I have a low GRE / GMAT score. Should I forget about scholarships? What if you have a low GRE or GMAT score? Should you forget about scholarships? Not yet. If you have something solid to offer (maybe
not as impressive as an Olympic medal, but something that gives you extra points for
diversity or uniqueness), you can keep some of those hopes alive. At MBA Crystal Ball, we have worked with some
candidates who (at least on paper) would never seem to be prime candidates for scholarships,
but we’ve been pleasantly surprised. Is there a fool-proof way to get scholarships? Candidates who’ve done a little market research
tell us interesting stories about admissions consultants who have looked at their profiles
and promised them admits and scholarships. Don’t fall for such promises. Many unranked MBA programs have marketing
tie ups in various countries. Their agencies can offer on-the-spot admits
and scholarships. That’s a different ball game. However, if you are aiming for the best international
MBA colleges, forget scholarships, no one can guarantee an admit or even so much as
an interview call. How to improve your odds of getting a scholarship Here’s the 2-phase process that we’ve followed at MBA Crystal Ball for most of our
scholarship success stories: Phase 1 – Create a solid Application Strategy
– Start early. Give yourself 1-2 years just for the preparation
phase. – Analyze your profile objectively and thoroughly. Understand your strengths and weaknesses. – Do the basic groundwork in terms of choosing
and prioritising your pre-MBA accomplishments – Make sure you have a clear and credible
post-MBA goal. And a convincing answer to the simple-but-tricky
Why MBA question. – Know how to select MBA colleges from the
huge list. Choose the MBA schools based on your appetite
for risk. Categorise the programs as Ambitious, Stretch,
Practical, Safe and Backup. These are categories we use in our MBA MAP
process. – If you want scholarships, include more ‘Practical’
schools and a few ‘Safe’ schools in your target list. If financing isn’t an issue, choose more
from the ‘Stretch’ and ‘Ambitious’ range. Phase 2 – Focus on the Execution
By now, you have a list of the right bschools where your profile is likely to be among the
top of class. All the introspection work you did in the
previous phase will help you now while working on each application. But there’s no point in blindly jumping
into essay writing because you think your English is good. Spend time on structuring and packaging your
ideas. It’s a common approach to write one set
of essays and then copy paste them across applications. That’s a bad idea. Make sure you tackle each application independently. Customise your essays for each school, since
similar sounding essay topics may still have nuances to address. Be careful on that point. We’ve shared many tips on writing MBA application
essays on our blog. Check out the links in the description. Ensure that your recommendations, resume and
interviews are aligned and take the narrative further. There you have it. Not really rocket science. The 2-phase process is simple, logical and
tested over a long period. And this is what’s got most of the applicants
good admits and a decent amount of scholarships. If you need some professional help, drop us
an email. If you aren’t ready for professional support
yet, don’t worry. There’s plenty on our website to get you
up to speed and put in a strong set of applications. Good luck. Hope you get into a good school with lots
of scholarship money. Bye.

29 thoughts on “MBA Scholarships Abroad ( USA, Canada, UK ) and India

  1. I scored 61% in my, and I worked for a insurance company for 10months, and now I am working in bharti axa. Can I get admission in top b-school

  2. I am a student from India. After 12th, I had a one year gap preparing for Engineering Entrance exams. I have done my Engineering from a private university. Then I had a gap of 1.5 yrs as I started my preparation for UPSC civil services but didn't sail through. I have zero work experience. Kindly help me with the best strategy to get into the best b-school for mba with scholarship.

  3. Gre general test along with Gre mathematics subject test.
    Will this boost my application for MBA program in USA top Universities

  4. Hello sir i am from kolkata india. Class 10: 83.25 percent class 12: 82.5percent btech: 60.77 percent experience: 20 months in cognizant(it sector) after dat gap of 2 years 10 months den joined income tax and have been working there for last 40 months. I want to know as im in govt sector will it affect my placement after mba through gmat and which sector will be glad to take non it sector people like me

  5. Got any questions for us about your international MBA plans and funding / scholarships? Paste them here along with your profile details. We'd be happy to share some perspectives.

  6. hi, what are my chances, I am a 48 yrs old uk citizen, BEng(hons) and lots of work experience in Accounts and customer support, I would like to do an Mba in USA to get a managerial job, hopefully scholorships too, what are my chances

  7. Hello @Sameer Kamat…I'm a mechanical engineering student from BITS PILANI Dubai with a CGPA of 9.8/10. Class 10 CBSE : 10/10..Class 12 CBSE:90.4%. I'm currently working in Dubai in a Food and Pharmaceutical Packaging Manufacturing industry. I want to pursue MBA in USA with a scholarship if possible. What are my options based on my profile?

  8. Hi Sir , really had a great time watching your videos. I appreciate the way you talk about the problems/queries faced by the people these days! As doing MBA for Indians has became an OBSESSION , You know every second student from commerce sector has already planned to do MBA , So did I . But , i am still confused between MBA and Masters . I've been into many education fairs , events , consellor , etc. But all of them are motivating me for different paths . I like operational hospitality and marketing . This both really excites me alot . You must have heard "Too Many Chefs , Spoiled The Soup" Really having alot of stress due to future planning . And can't concentrate on degree studies . Hope To See Your Reply Soon!
    Thanks for such informational videos , Keep It Up!

  9. Very Informative Video Sir 👍🏻✨👌
    Sir, I have completed BMS (Bachelor of Management Studies), I want to pursue my MBA from UK’s best universities, I am not sure about how many entrance exam I have to appear for admission?
    Also my CGPA has always been between 7-8 not more than that.
    Which among these entrance exams I need to take gmat, gre, ielts, toefl, etc. also it is worth doing mba from Uk on education loan basis ?
    Thanking you in ahead of time sir 😊

  10. For doing mba in abroad a good collage of is important or just marks are important??? Because iam from a small city and in my city there are no good collage for @sameer kamat

  11. hi i have a gmAT SCORE OF 750 WITH few certificates of national level projects and cleared few city level maths exam of times of india. what are my chances in rotman?

  12. I got admission for BBA in Symbiosis Pune this year only what are things i should take in as consideration for the MBA programe amongst the top colleges/University.
    Please do share your response

  13. Hello sir …I would like to do my MBA in abroad.right now I am doing my UG..after completing UG I wish to go for gmat! Will that help for me to study in abroad?

  14. Hey sir
    i have one question ,i am pursuing hotel management and this is my last year so after this i want to do MBA so is this the right decision ?
    if yes please tell me what should i do for that
    thank you

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