The GMAT was earlier an exam that was reserved for those pursuing a career in business and hence the only way to get into top business schools. But today, your GMAT score is no longer the sole criterion for MBA admissions! The good news is that there are now many scholarships without GMAT available as well! With such financial assistance available, you can pursue an MBA degree at a top business school irrespective of your GMAT score.
If the scores are good enough to get you into an MBA college, then getting them is half the work done! If your GMAT score falls short of the average grade at the colleges that interest you, never fear. There are now many scholarships without GMAT available at the blink of an eye.
What is GMAT?
GMAT stands for Graduate Management Admission Test. It is a standardized exam conducted to test your English and Mathematics skills. It was the primary course when it comes to Graduate Business Admissions, but now can be contested with other alternatives.
If you want to study in the US or UK, then GMAT score is used to get into B-schools. But, this scenario is changing with the passage of time. Nowadays, many business schools are providing scholarship without GMAT. Some are even waiving off the fees.
Reasons why universities are offering scholarships without GMAT
Increase diversity in student population
Business schools is all about diversity. They say that the more diverse a b-school is, the better the learning experience will be. In today’s world, diversity means more than ethnicity. Today it also refers to the diversity of academic backgrounds of MBA students. Students from different backgrounds find out that they will be better served without GMAT. Post that, they are immediately attracted to programs that do not require it. Hence, the scholarship.
Increase in number of applicants
When more and more potential student realize that GMAT is not a requirement the number applications to the program increase. This poses as an advantage for the school because it increases its visibility and makes it a popular choice among students.
Overseas applicants will also apply
Some of the programs have a limited scope, i.e., only those who reside within their geographical boundaries can apply. When such programs do not require GMAT, they automatically open the gates to international students. This increases the pool of applicants.
Affordability
GMAT costs $250 which is more than the monthly income of a family in many countries. With the rising costs associated with the MBA, many students decide to change their career path because of the high cost. Hence, scholarship without GMAT has increased affordability and let those who would not have had a chance apply for it.
Scholarship is an investment in future
When you study at a prestigious b-school, you automatically become a member of an elite group. Employers won’t take you seriously unless you have graduated from a prestigious business school. When they find out that you received a scholarship, they would be more interested in you. Because they know that the most meritorious students only get the best scholarships.
Focus on entrepreneurship and research
B-schools are not just about securing a degree. It is about discovering your full potential and making use of the right channels to unlock it. Many schools now offer scholarships without GMAT with a focus on entrepreneurship and research. It gives students an opportunity to develop their rational thinking skills and utilize them in improving society.
Business School Scholarships without GMAT
The aim of a scholarship is to encourage aspiring students who want to pursue a good education. Business school scholarships without GMAT was established with the prime purpose of providing students with opportunities to attain the best education possible.
Columbia Business School Scholarships
It offers a multitude of degree programs ranging from MBA, eMBA and other MS programs. The program is designed for students with diverse backgrounds and also for those who want to further their career opportunities. The acceptance rate is 16%.
Hult International Business School Scholarships
One of the most popular business schools in San Francisco, the Hult Business school is know to provide scholarships for all applicants. It has an acceptance rate of 45.2% only.
NYU Stern Business School Scholarships
When it comes to B-School admissions, NYU definitely finds its name among the top of the list. It has some of the best graduate and post-graduate programs with an amazing placement rate. The acceptance rate is 29%.
Henley Business School Scholarships
With a campus in Greenfield, it has some of the best Masters program in business administration. The college is a part of the Univeristy of Reading.
Florida International University Business School Scholarships
This university does not require GMAT scores for students enrolled in the Healthcare MBA. The amazing BBA and MBA programs out there are surely going to test your intelligence.
Mays Business School Scholarships
With over 5000 students enrolled in the university, competition can be a bit tough . For those who are up for the challenge, there are some amazing scholarship oppurtunities available. It is one of the top ranked b-schools in the US and hence, you better start prepping up your profile right now.
USC Marshal Business School Scholarships
With merit based scholarships and military fellowships, you can get a chance to enter into one of the top business schools in the country. The acceptance rate is around 30% hence competition can be a bit tough here as well.
Kellog School of Management Scholarships
If you have ever planned to do your MBA in the US, then you must have heard about the Kellog School of Management. The b-school wing of Northwestern university, it has some of the best graduate programs out there. It can also be one of the toughest schools to get into. Hence, you better start creating an amazing profile if you want to get in here.
