The Masters in Management or MiM is a relatively new phenomenon compared to the old and tested MBA concept targeted towards graduates or young professionals individuals. It provides comprehensive knowledge about varied management streams such as Finance, Marketing, Consulting, and Entrepreneurship, among many others. Though MiM costs nearly half of what an average MBA costs if we take up both courses of similar stature, it is still a significant investment in your education and professional future. This article covers different types of scholarships an applicant of MiM can easily apply to; there are multiple options available as per one’s need:
- MERIT-BASED SCHOLARSHIPS
These scholarships are provided to the students who have shown exceptional academic performance. It is generally assessed through test scores and the ability to contribute to the MiM program through the application and interview feedback. Two of the most famous Merit-based scholarships are-
– MiM Merit Scholarship at London Business School
Now the LBS scholarship has two variants: MiM Scholarship for Women. The scholarship aims to support female candidates of merit and to help increase the number of women joining the London Business School. The awarded funds can be up to 12,000 GBP. The second is the MiM Merit Scholarship. All successful MiM applicants who have cleared the academic and professional merit and can demonstrate the ability to contribute to all aspects of the MiM program are awarded a scholarship of up to 12,000 GBP.
– HEC Foundation Excellence Scholarship
All candidates with a non-French diploma (Bachelor’s or Master’s Degree) admitted to one of the University’s master’s programs are eligible to apply. The final decision is based on the student’s academic excellence, the application’s overall strength, the selection interview results, and the candidate’s GMAT/GRE/TAGE-MAGE performance. The awarded scholarship is deducted from the tuition fees – it can cover part or total tuition cost.
- FINANCIAL NEED-BASED SCHOLARSHIPS
Financial need-based scholarships are awarded to students who show demonstrated financial need. There may be a separate essay or application may be required to qualify for such scholarships. Two of the well-known need-based scholarships are:
– INSEAD Financial Fellowship
INSEAD has four types of scholarships: Diversity Scholarship- Granted to candidates who bring diversity to the class regarding background, work experience, and personal profiles. Achievement Scholarship- Focuses on excellence in academics and personal achievements. Singapore Scholarship- Granted to Singapore citizens or Singapore Permanent Residents demonstrating excellence and a solid connection to Singapore and the Southeast Asia region. Indonesian Alumni & Friends Scholarship- Granted to Indonesian citizens demonstrating excellence and a strong connection to Indonesia and Southeast Asia.
– IVEY Business Schools Financial Need Awards
Valued at up to $20,000, these awards are available to candidates who indicate a significant financial need in their online application. Approximately 30% of the MSc cohorts are awarded these scholarships each year.
- REGION-BASED MiM SCHOLARSHIPS
These scholarships are awarded to academically exceptional students from a specific region or nation. The country or group of organizations region-specifically sponsors such benefits. Let’s know about the two most famous ones:
– Indian Academic Excellence Scholarship at Smurfit Business School
All successful applicants to full-time programs in the UCD Michael Smurfit Graduate Business School who reside in India & hold Indian citizenship, and are academically exceptional & who will be ambassadors for their course and the School during their studies and after graduation are applicable for this scholarship.
– ESMT Berlin Asia Scholarship
ESMT offers partial scholarships for accepted Master in Management students who show academic merit and leadership potential. Scholarships will be awarded to candidates with any background, although candidates from quantitative subjects like science, technology, engineering, finance, economics, or mathematics are especially encouraged to apply.
- DIVERSITY BASED MiM SCHOLARSHIPS
Diversity-based scholarships are offered to candidates who bring diversity to the class regarding background, work experience, and personal profiles. Let’s read about one of the most famous Diversity Based MiM Scholarship:
– IE Scholarship For Diversity
All applicants of MiM are automatically considered for this scholarship. The students are chosen based on the strength and timeliness of their admission application. Several of these partial awards are offered per program and intake and are dependent on the candidate’s strength and available funding at the time of offer.
- MiM SCHOLARSHIPS AWARDED BY THIRD PARTY, GOVERNMENT, OR PHILANTHROPIC ORGANISATIONS
Several 3rd parties, government, or philanthropic organisations provide scholarships to students pursuing MiM or other business master’s programs at institutions abroad. The most esteemed and renowned ones are:
– JN Tata Endowment for Higher Education Scholarship Program
The Tata Trusts endeavors to support needy individuals through the Individual Grants Programme (Education and Medical). The Trusts engage with partner NGOs working with genuinely needy students – especially those with scant chances of receiving support from elsewhere.
The Aga Khan Foundation provides a limited number of scholarships each year for postgraduate studies to outstanding students from select developing countries who have no other means of financing their studies. Scholarships are awarded on a 50% grant: 50% loan basis through a competitive application process once a year in June or July.