When looking back at the gender parity – or lack thereof – on MBA programmes 20 years ago, it’s safe to say there has been great progress made in terms of boosting female numbers. Long gone are the days where men make up the majority of the classroom, however in recent years this progress has been stagnating.

According to the Graduate Management Admission Council’s Application Trends survey, – an annual report which tracks applications to all business schools globally – women have made up around 40% of all applications year on year, since 2014. In fact, in 2015, women made up 43% of the classroom.

But this number has dropped back down to 40% in 2023 – with programmes like the Executive MBA seeing even fewer female applicants – 32% – in 2023.

What’s causing progress to slip, and how can we increase the number of women studying on business education programmes so that we can reach true gender parity in the classroom? One such way could be improving the funding options for women, according to Nalisha Patel, Regional Director for Europe at the Graduate Management Admission Council (GMAC).

“Business schools have a responsibility to increase financial support for under-represented groups,” says Patel. “Though some have already begun implementing initiatives like this themselves, instead of relying on external scholarship funding, schools can be doing more themselves to boost the gender parity on their programmes. Part of this is also widening access to knowledge of self-funding, and making potential applicants aware of the facilities to support them.”

So, this International Women’s Day, the team here at BlueSky Thinking have pulled together a comprehensive list of some of the most innovative scholarships providing financial, as well as practical, support for women studying at business school.

Focusing on leadership…

• Institution: Wharton School of Business
• Scholarship: Wharton Women’s Fellowship
• Programme: MBA

This scholarship is tailored toward female students who exhibit outstanding leadership abilities – offering them $20,000 a year. The recipients of the scholarships are chosen by Wharton based on their academic achievement, professional competence, and capacity for leadership.

• Institution: Emory Goizeuta Business School
• Scholarship: Executive Women of Goizueta (EWG) Endowed Scholarship
• Programme: Executive MBA

The EWG scholarship promotes the advancement of women in business and leadership by providing financial support to an accomplished female Executive MBA candidate. Consideration is given to candidates based upon demonstrated leadership, professional progression, community service, and unique international professional background.

• Institution: UCLA Anderson School of Business
• Scholarship: Women’s Scholarships
• Programme: MBA

There are several scholarships available to women accepted into UCLA Anderson’s MBA program both domestic and international. One such initiative, the Foreign Peace Scholarship, awards $10,000 per year to female foreign students. Recipients are selected based on their academic potential, career achievements, leadership potential and through the demonstration of alignment with the institution’s mission and vision.

• Institution: INSEAD
• Scholarship: Women’s Leaders Scholarship
• Programme: MBA

INSEAD scholarships for women support equity, diversity, and inclusion by providing talented female applicants worldwide with an opportunity to pursue a world-class MBA regardless of their financial circumstances. Candidates are assessed on professional experience with between €18,000 and 25,000 awarded

• Institution: Porto Business School
• Scholarship: Women’s Leaders Scholarship
• Programme: MBA and Postgraduate programmes

This scholarship is intended to support exceptional women who are seeking to advance their careers and who demonstrate a clear commitment to leadership and innovation in their respective fields. Applicants are assessed on their academic and professional achievements, leadership potential, personal and professional development goals as well as the content of the “motivation letter” each applicant is asked to submit.

• Institution: Imperial College Business School
• Scholarship: Women’s Scholarships
• Programme: Online MBA, Executive MBA and Weekend MBA

The Imperial Women’s Scholarships are awarded to women showing exceptional academic achievement and professional excellence, as well as a commitment to supporting women in business. All successful female applicants are eligible to apply for this award.

• Institution: WU Executive Academy
• Scholarship: Female Leaders Scholarships
• Programme: EMBA, MBA, LLM, Masters and Bachelors

This scholarship is intended to support women in their professional development. Candidates are evaluated based on their financial needs, along with their motivation, social skills, team-working abilities, analytical skills, and potential contribution to peer learning, as well as diversity, language proficiency, previous career path, and development potential. Up to 25-35% of tuition is funded.

• Institution: International Masters Programme for Managers (IMPM)
• Scholarship: Women in Leadership Award
• Programme: IMPM (Exec Diploma)

The International Masters Programme for Managers looks to provide its participants with a level of professional development beyond what a traditional Exec MBA offers. Focusing it’s teaching on the five mindsets set out by professor Henry Mintzberg, the programme teaches participants to expand their management acumen across five continents. For women who demonstrate exceptional leadership in their organisation, country, and/or their region the Women in Leadership Award awards up to $10,000 USD to successful applicants.

• Institution: Australian Graduate School of Management (AGSM)
• Scholarship: Emerging Female Leaders Scholarship
• Programme: MBA

The AGSM Emerging Female Leaders Scholarship, offered at the University of New South Wales Business School is set up to boost diversity, enabling high potential female leaders to complete a world-class MBA. Candidates are automatically considered for this scholarship after they have received an offer of admission to the AGSM Full-Time MBA program.

Focusing on business

• Institution: UBC Sauder School of Business
• Scholarship: Women in Business Leadership
• Programme: MBA

This scholarship is open to candidates with a demonstrated passion and commitment towards achieving gender parity and supporting women in business leadership. It offers up to full tuition for Canadian applicants, and up to $60,000 for international applicants.

• Institution: NYU Stern
• Scholarship: Advancing Women in Business Scholarship
• Programme: Full-Time MBA

This merit-based scholarship is awarded to students that demonstrate a deep and abiding commitment to advancing women in business. Successful applicants can expect to receive cover for their full tuition and mandatory fees for the two years, along with an annual stipend of $10,000.

• Institution: King’s Business School
• Scholarship: Women Excelling in Business
• Programme: EMBA

This scholarship is intended to support professional women seeking to undertake an Executive MBA to take their careers to the next stage. It’s offered in association with the 30% club, a campaign group of business chairpersons and CEOs taking action to increase gender diversity on boards and senior management teams. Applicants are assessed on their ability to demonstrate academic and professional excellence, as well as experience in supporting women in business activities.

• Institution: Frankfurt School of Finance and Management
• Scholarship: Women in Business Scholarship
• Programme: MBA (part-time and full-time), Executive MBA, MBA in International Healthcare Management, and all Masters programmes

This scholarship is aimed at female applicants who have demonstrated success – professionally or personally – in the field of business. The scholarship covers a partial amount of tuition for the respective programme of up to 30%.

• Institution: ESMT Berlin
• Scholarship: Women in Business Scholarship
• Programme: MBA, Exec MBA, and all Masters programmes

This scholarship acknowledges the lack of gender equality in global business, and seeks to support women’s career development and advancement by offering ten scholarships of €4,500. Applicants are required to answer the question “How can women empower each other in their personal and professional lives?”

• Institution: Hult International Business School
• Scholarship: Women in Business Scholarship
• Programme: MBA programmes

This scholarship is for MBA applicants who have either work or internship experience, or who have led a team, in an international environment. The scholarship is awarded to candidates who challenge the status quo and bring a unique perspective to the table. Recipients of this award are characterised by their ambition, potential, and diversity of thought. To apply, candidates must submit an overview of their roles and responsibilities, and a brief essay explaining why they think it’s important to have women in leadership positions, based on their experience. 

• Institution: Nyenrode Business University
• Scholarship: Women in Business Scholarship
• Programme: Undergraduate, Master’s and MBA programmes

The Women in Business Scholarship is part of Nyenrode’s Revolving Scholarships, whereby recipients accept the moral obligation to give what they once received by becoming donors themselves to the Nyenrode Scholarship Fund when they graduate and are financially able to do so. This particular scholarship is designed to promote the representation of female role models in management positions. This scholarship is intended for applicants who identify as female (or non-binary) and aim to overcome the lack of gender diversity from the business school classroom to the boardroom. To apply, individuals must submit a motivation letter and complete a selection interview.

Partnered with companies

• Institution: Saïd Business School at the University of Oxford
• Scholarship: Oxford-Intesa Sanpaolo MBA Graduate Scholarship
• Programme: MBA

Intesa Sanpaolo is one of Italy’s leading banks, with a proud record of corporate philanthropy across a range of global priorities including educational programmes aimed at driving social change. In partnership with Oxford University’s Graduate Scholarship Matched Fund and Green Templeton College the organisation offers a full scholarship each year to an exceptional female MBA candidate.

• Institution: Chicago Booth School of Business
• Scholarship: Wallman Fellowship
• Programme: MBA

There are several scholarships available to women accepted into Chicago Booth’s MBA program, including The Wallman Fellowship. It is awarded to women who demonstrate exceptional leadership and dedication to helping women in business. The fellowship covers all tuition costs annually.

• Institution: London Business School
• Scholarship: Carlsson Family Foundation and alumnus Roger Carlsson
• Programme: MBA

The scholarship is available to all successful female MBA applicants, with the aim of the scholarship being to support women of merit and to help increase the numbers joining London Business School. Successful applicants can expect receive £20,000 towards their programme costs.

• Institution: NEOMA Business School
• Scholarship: Veuve Clicquot Scholarship
• Programme: Grande École Program (Master in Management)

Launched three years ago in partnership with luxury champagne company Maison Veuve Clicquot, this scholarship is designed to support ten female students each year. Based on a mix of social, financial, and academic criteria, it is open to both French and international students, and provides financial support as well as exclusive opportunities to engage with Veuve Clicquot’s executive committee for professional guidance in order to foster women’s achievements in and after higher education.

• Institution: UCD Michael Smurfit Graduate Business School
• Scholarship: 30% Club Executive MBA Scholarship
• Programme: Modular Executive MBA

UCD Smurfit School is partnered with the 30% Club, offering a merit-based scholarship covering up to 50% tuition fees for those enrolled on the Modular Executive MBA. This scholarship celebrates diverse representation in leadership roles allowing applicants to realise their aspirations of progressing further in their careers, taking on leadership positions, eventually becoming C-suite level executives. The 30% Club is a campaign group of business chairpersons and CEOs taking action to increase gender diversity on boards and senior management teams.

Focusing on technology

• Institution: BI Norwegian Business School
• Scholarship: Women in Finance and Tech Bachelor and Master Scholarships
• Programme: Certain Bachelor and Masters programmes

These scholarships aim to inspire talented female candidates to pursue bachelor studies or graduate studies and a career in finance or technology. BI Norwegian Business School is committed to the UN Sustainability Goals. In particular, BI aims to support efforts towards achieving gender equality, and this scholarship is a means to doing so – attracting and support outstanding female candidates to pursue careers in fields where there is a gender imbalance.

• Institution: Mannheim Business School
• Scholarship: Women in Business and Women in Tech Scholarships
• Programme: MBA and Postgraduate programmes

Since graduates are tomorrow’s leaders, and diversity in business leadership is increasingly critical for overall long-term business success, Mannheim Business School continuously works on making their network even more diverse. Among other things, they strive for a higher proportion of female participants in programmes, thus supporting women in achieving their full potential. The Women in Business and Women in Tech scholarships demonstrate this commitment.

Led by companies

• Institution: Forté Foundation
• Scholarship: Forte fellowship
• Programme: Participating school’s MBAs

Forté Foundation is a non-profit organisation with a mission to increase the proportion of women in powerful positions in the workplace. To support this, it offers scholarships to deserving women pursuing an MBA degree. The Forté Foundation Fellowship is available to qualified women accepted into its affiliated business schools. The value of the fellowship ranges from $10,000 to cover the annual cost of tuition.

• Institution: 30% Club
• Scholarship: 30% Club Scholarship
• Programme: Participating school’s MBAs

The 30% Club is a worldwide initiative that promotes the inclusion of more women in senior management and boards of directors. Women enrolled in business schools with 30% of club participants are eligible for scholarships. Scholarships provide annual tuition coverage of up to 50%.

To be considered applicants must submit their MBA application to a partner school and mention their interest in the 30% Club Scholarship. Scholarship recipients will be selected by partner schools based on their academic achievement and leadership potential.

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