Your handy guide to IMD MBA Scholarships

IMD MBA Scholarships | Introduction 

Pursuing an MBA is a significant investment in one’s professional and personal growth. However, the cost of an MBA program can be substantial, making it a financial challenge for many aspiring candidates. To alleviate this burden, the International Institute for Management Development (IMD) offers various scholarships to deserving candidates. Located in Lausanne, Switzerland, IMD is popular for its rigorous MBA program and commitment to developing future global leaders. This blog will provide a comprehensive guide to IMD MBA scholarships, including the different scholarship options, eligibility criteria, application process, and more.

IMD MBA Scholarships 

IMD offers a range of MBA scholarships to attract and support exceptional candidates from diverse backgrounds. These scholarships aim to foster a diverse and inclusive learning environment, encouraging students to bring unique perspectives and experiences to the classroom. The scholarships cover a significant portion of the tuition fees, easing the financial burden for deserving students. Here are some of the prominent IMD MBA scholarships-

Hilti Scholars Program

This scholarship program is intended to help bright students with a background in STEM subjects (science, technology, engineering, and mathematics).

It pays around half of the tuition fees, allowing students with STEM qualifications to continue their education at IMD.

Every year, the Hilti Scholars Program will sponsor six IMD MBA students.

Procedure for Applying

You must submit an essay as part of your regular admissions application to be considered for this program.

Complete the IMD MBA Financial Aid form in your MBA application’s Finance Planning section.

The amount is CHF 50,000.

Deadlines for application- 15 July 2023, 15th of August 2023, September 15, 2023, 15th of October 2023

Financial Need Scholarships

If you require financial assistance, please apply for Financial Need Scholarships through IMD when submitting your admissions application.

Procedure for Applying

To apply for a scholarship, you can locate the application form right in your admissions application.

The eligibility criteria for the scholarship are as follows-

• Evidence of financial need
• Strong academic record
• A strong recommendation letter
• Consistent career advancement

Please check the financial planning part of your admissions application to apply for a financial need scholarship.

Benefits- a sum of up to CHF 30,000

Deadlines- Same as with the admissions application

Staton Memorial Scholarship

You must be a citizen of a Latin American country (except Brazil) and commit to returning to Latin America for at least three years after completing the program to be eligible for this award.

Benefits- CHF 50,000.

Deadline- September 15th.

The BackPack-Excellence Scholarship for Women 

It provides a full scholarship along with living expenses. The scholarship provides an opportunity for qualified women who cannot attend an MBA degree owing to obstacles such as family obligations, forced migration, and financial constraints.

Benefit- NA

Deadline- July 1st.

Global South MBA & EMBA Scholars Program of the Jebsen Family

To be eligible for this award, you must have a track record of leadership in the non-profit sector.

Benefit- CHF 50,000.

Deadline- NA

Nestlé Women’s Scholarship

Women from developing countries are given priority for this scholarship (Nestlé employees or subsidiaries are ineligible).

Benefits- CHF 20,000.

Deadline- July 15th.

Women’s Forté Scholarships

To be considered for this scholarship, you must be the most outstanding applicant among others.

A strong GMAT/GRE score is required, as well as evidence of career advancement, global perspective, open-mindedness, and excellent interpersonal skills.

Benefits- CHF 20,000.

Deadline- 15th of April or 15th of June

The application process for IMD MBA Scholarships

This process is an integral part of the overall MBA application. Candidates interested in applying for scholarships should carefully review the scholarship options available and ensure they meet the eligibility criteria. The general steps to apply for IMD MBA scholarships are as follows-

Complete the MBA application- Start by submitting your application for the IMD MBA program into the MBA application form.

Check eligibility- Review the specific eligibility criteria for each scholarship and identify the ones you are eligible for 

Scholarship essay- Prepare a compelling scholarship essay addressing the scholarship’s specific requirements and demonstrating how you meet the criteria.

Scholarship Interview- Shortlisted candidates may be invited for a scholarship interview, where they will have the opportunity to showcase their candidacy further.

Tips to enhance your scholarship application

Competition for IMD MBA scholarships is fierce, and only a limited number of scholarships are awarded each year. To enhance your chances of securing a scholarship, consider the following tips-

Start early- Begin the scholarship application process as soon as possible to ensure you have enough time to prepare a strong application.

Highlight your leadership- Emphasize your leadership experience and potential in your scholarship essay and interview. Provide concrete examples of how you have demonstrated leadership qualities in different situations.

Demonstrate impact- Showcase the impact you have made in your professional and personal life. Highlight any projects or initiatives you have undertaken that have brought about positive change.

Align with scholarship criteria- Tailor your scholarship essay to align with the specific scholarship criteria you are applying for. Show how your values and goals align with the scholarship’s objectives.

Seek recommendations- Request recommendations from individuals who can speak for your leadership potential, academic achievements, and professional impact.

Key takeaways

• IMD MBA scholarships provide an excellent opportunity for talented individuals to pursue their MBA dreams without financial constraints.
• IMD offers a range of scholarships to attract and support exceptional candidates from diverse backgrounds, fostering a diverse and inclusive learning environment.
• Some prominent IMD MBA scholarships include the Hilti Scholars Program, Financial Need Scholarships, Staton Memorial Scholarship, BackPack-Excellence Scholarship for Women, Global South MBA & EMBA Scholars Program, and so on.

If you found this blog informative or need further assistance, don’t hesitate to reach out to us. Click here to contact our team, and we’ll be delighted to help you navigate the study abroad process and support your MBA aspirations. Your success is our priority!

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FAQs

Q1. Can I apply for multiple scholarships at IMD?

Ans- Yes, candidates can apply for multiple scholarships at IMD. However, they must meet the specific eligibility criteria for each scholarship.

Q2. What is the rank of an IMD MBA institute?

Ans- IMD has retained its top status in the Bloomberg Businessweek MBA ranking for European business schools for the years 2022-2023. The accreditation panel emphasized IMD’s strong corporate connections and emphasis on leadership and mentoring.

Q3. How can I get a bank loan to pay for my MBA?

Ans- If you get admission to one of India’s top 20 institutions, you can obtain a loan from a public sector bank on your own guarantee. First and foremost, achieve a high rank in the entrance tests and acquire a seat. You can then apply for bank loans.