MBA Scholarships for Women
Global research on women in the workplace shows an important finding: women have exceptional leadership skills. They excel at soft skills like communication, empathy, decision-making, and emotional intelligence, which most CEOs widely regard to be the most valuable professional characteristics for a healthy work environment. Let’s pull up another figure: in Zenger and Folkman’s 2019 analysis of extensive 360-degree reviews, it was found that women surpassed men in 17/19 leadership capabilities. And according to research presented in the Harvard Business Review, C-suite leaders who score highly on these traits can earn a 9.35% return on assets over two years. Companies with women board directors report a 53% higher return on equity on average.
So, if women are good for business, why are there so few of them at the top? In 2015, women made up only 17% of C-suite positions. Today, that figure sits at 29% - still a minority. This has been attributed to gender biases within the workplace, a lack of role models for women, balancing domestic responsibilities with work, and a lack of networks and opportunities.
Business schools are trying to change that. Given that 85% of MBA graduates credit their MBA program for advancing their careers, an MBA is an important way for women to break glass ceilings. It provides the credibility, network, opportunities, and expertise for women to move into senior leadership roles. Research from the Stanford Institute for Economic Policy Research shows that having more female peers during the MBA also increases women’s chances of obtaining a senior management role. Female networks, especially in male-dominated sectors, are crucial for women to receive mentorship, sponsorship, and professional support.
The Forte Foundation’s research shows that nearly half of the women CEOs at Fortune 500 and S&P500 companies hold an MBA or an equivalent advanced business degree.
That’s why business schools are focusing on increasing gender diversity within their MBA programs and recruitment process. In 2022, 14 leading US business schools had at least 45% women’s enrollment in their full-time MBA programs, and that number continues to increase. For example, Wharton’s MBA class of 2025 is 50% women, the University of Oxford Saïd Business School’s MBA classroom has 51% women, and George Washington University’s School of Business leads the list with 65% of its class being composed of women.
Given that business schools are looking to attract more female students to their MBA programs, many offer scholarships or partner with funds that are specifically targeted at women. Not only does this encourage more women to apply for an MBA by reducing their financial liability, but it also allows them to be part of an extensive network of other driven women leaders.
MBA Scholarships for Women in 2024 - 2025
If you’re a woman applying to MBA programs, here are 10 scholarships you can apply for:
External MBA Scholarships for Women
Forté MBA Fellowship: Awarded to women with exceptional leadership potential and a commitment to advancing women in business.
From the website: “Forté Fellows exhibit exemplary leadership, represent diverse backgrounds, and demonstrate a commitment to advancing women in business — all of which aligns with Forté's mission. To date, our partner business schools have awarded $400 million to more than 17,000 Forté Fellows.”
Eligibility: Candidates who demonstrate the following criteria are eligible to apply for this fellowship:
Exhibit exemplary academic, team, community, and/or creative leadership.
Represent diverse educational and professional backgrounds, identities, and career goals.
MBA degree candidate at a Forté partner school.
Demonstrate commitment to Forté’s mission.
Any additional school-specific requirements.
30% Club: Offers scholarships of up to 50% of course fees and mentorship for women applying to MBAs, Executive MBAs, Master’s programs, and other executive programs. Participating schools include Oxford SBS, HEC Paris, Chicago Booth, ESMT Berlin, UToronto Rotman, Cambridge Judge, SDA Bocconi, London Business School, and more.
Laidlaw Women in Business Scholarship: Offers scholarships of both half and full tuition coverage (and in some cases, living expenses of up to £10,000 in partnership with schools like HEC Paris, IE Business School, London Business School, and Oxford SBS. Awarded to exceptional women who demonstrate:
A desire to help other women succeed
Clear financial need
A proven track record of academic excellence
Leadership potential through achievements and positions of responsibility, entrepreneurial endeavours, overcoming personal challenges and other notable experiences;
A sense of integrity and commitment to drive positive change.
AAUW International Fellowships: Offers awards of $20,000 to international women students pursuing full-time graduate study in the United States. Criteria for selection include:
Applicants who are residing in their home country at the time of application, from developing/emerging countries, or from an underrepresented group in any region, will receive special consideration.
Position on return to home country.
Academic and/or professional qualifications.
Demonstrated commitment to the advancement of women and girls in home country.
Proposed time schedule.
Quality and feasibility of proposed plan of study or research.
Demonstrated evidence of prior community and/or civic service in home country.
Applicant’s country’s need for specialized knowledge or skill.
Financial need.
Motivation for graduate study or research.
C200 Scholarship: Offers scholarships of up to $10,000 and access to the C200 scholar and entrepreneur network to women MBA students who are entrepreneurs. Candidates must be enrolled in MBA programs that host C200 Reach Outs.
School-specific MBA Scholarships for Women
Many top business schools offer a range of scholarships for women. Check your target school’s website for specific opportunities. Here are some examples:
The NYU Stern Advancing Women in Business Scholarship: Merit-based scholarship awarded to women candidates for its full-time MBA program. It covers full-tuition and mandatory fees for the full 2-year MBA program. It is awarded to students demonstrating a deep commitment to advancing women in business.
Yale University, in partnership with the American Association of University Women: Offers up to USD $12,000 in funding for underrepresented minority women students in their final year of their MBA program.
INSEAD: INSEAD offers several scholarships for women like the Christina Law MBA‘91D Endowed Scholarship for Asian Women, Dean Brown Family Endowed Scholarship for Women, Groupe Galeries Lafayette Endowed Scholarship for Women, Helmut Meier Scholarship for Women from Central and Eastern Europe, Judith Connelly Delouvrier Endowed Scholarship, the INSEAD Women’s Scholarship, and more.
London Business School: Offers scholarships from £20,000 up to full fees for women MBA applicants of merit.
MIT Sloan: Offers scholarships like the Collamore-Rogers Fellowship and Ida M. Green Fellowship for women students enrolled in the MBA program at MIT Sloan.
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