High GMAT Score Scholarships


Dear Forum,

I have recently taken my GMAT exam, with a total score of 760 (99 percentile), an IR score of 8 (92 pecentile), and an AW score of 4 (17 percentile).

I am from South-East Europe and hold a bachelor's degree in Business Administration with a mediocre (though not terrible) final grade from a first-tier German university. I have around two years of back-office work experience in a consulting firm. I was successful at various competitions and initiatives in highschool, but haven't achieved anything extraordinary at university or afterwards.

My goal is to enroll in a business programme at one of the top business schools worldwide. However, I cannot afford the tuition fees and I don't wish to go for a study loan. Therefore, I am interested in different scholarship percpectives.

Given my profile, what are my chances of receiving a scholarship at one of the best business schools, both in North America and Europe? Is there something I should consider, and are there any useful webpages I could browse for information on this topic? I would be thankful for any suggestions regarding my future options.

Thank you, and best regards

Dear Forum,

I have recently taken my GMAT exam, with a total score of 760 (99 percentile), an IR score of 8 (92 pecentile), and an AW score of 4 (17 percentile).

I am from South-East Europe and hold a bachelor's degree in Business Administration with a mediocre (though not terrible) final grade from a first-tier German university. I have around two years of back-office work experience in a consulting firm. I was successful at various competitions and initiatives in highschool, but haven't achieved anything extraordinary at university or afterwards.

My goal is to enroll in a business programme at one of the top business schools worldwide. However, I cannot afford the tuition fees and I don't wish to go for a study loan. Therefore, I am interested in different scholarship percpectives.

Given my profile, what are my chances of receiving a scholarship at one of the best business schools, both in North America and Europe? Is there something I should consider, and are there any useful webpages I could browse for information on this topic? I would be thankful for any suggestions regarding my future options.

Thank you, and best regards
quote
smartcanad...

That's a very good GMAT score. For international students, the GMAT is more important than your grades (as long as you weren't below average in your class).

I got a full ride for my MBA in the US (top 30 program) and much of it was from my GMAT score I think. Usually, your odds of getting a very large or full scholarship are good if (1) your GMAT is 80 to 100 points above the average and (2) your program is rankings-conscious - meaning they are trying to move up. The GMAT score is a way for some programs to get better rankings, so they actively try to recruit high GMAT takers.

What I mentioned does not apply to the really elite schools (US top 7) where they are more focused on your overall profile and there is less focus on the GMAT.

Good luck on your quest!

That's a very good GMAT score. For international students, the GMAT is more important than your grades (as long as you weren't below average in your class).

I got a full ride for my MBA in the US (top 30 program) and much of it was from my GMAT score I think. Usually, your odds of getting a very large or full scholarship are good if (1) your GMAT is 80 to 100 points above the average and (2) your program is rankings-conscious - meaning they are trying to move up. The GMAT score is a way for some programs to get better rankings, so they actively try to recruit high GMAT takers.

What I mentioned does not apply to the really elite schools (US top 7) where they are more focused on your overall profile and there is less focus on the GMAT.

Good luck on your quest!
quote
Duncan

Also consider that the net impact of scholarships is a worse MBA that reduces your lifetime value: The sad facts about scholarships http://www.find-mba.com/board/37055

Also consider that the net impact of scholarships is a worse MBA that reduces your lifetime value: The sad facts about scholarships http://www.find-mba.com/board/37055
quote

That's a very good GMAT score. For international students, the GMAT is more important than your grades (as long as you weren't below average in your class).

I got a full ride for my MBA in the US (top 30 program) and much of it was from my GMAT score I think. Usually, your odds of getting a very large or full scholarship are good if (1) your GMAT is 80 to 100 points above the average and (2) your program is rankings-conscious - meaning they are trying to move up. The GMAT score is a way for some programs to get better rankings, so they actively try to recruit high GMAT takers.

What I mentioned does not apply to the really elite schools (US top 7) where they are more focused on your overall profile and there is less focus on the GMAT.

Good luck on your quest!


Thank you for your reply!

In fact, my GPA of 3.0 (German grade of 2.4, 1.0 being the maximum and 4.0 the minimum) is apparently below my class's average, as I am in the 35th percentile. Is this going to be a problem?

Also, if i understand you correctly, I have high chances of getting a scholarship at any Top 15-30 US busciness school, but none at any of the Top 10?

Thanks again!

[quote]That's a very good GMAT score. For international students, the GMAT is more important than your grades (as long as you weren't below average in your class).

I got a full ride for my MBA in the US (top 30 program) and much of it was from my GMAT score I think. Usually, your odds of getting a very large or full scholarship are good if (1) your GMAT is 80 to 100 points above the average and (2) your program is rankings-conscious - meaning they are trying to move up. The GMAT score is a way for some programs to get better rankings, so they actively try to recruit high GMAT takers.

What I mentioned does not apply to the really elite schools (US top 7) where they are more focused on your overall profile and there is less focus on the GMAT.

Good luck on your quest![/quote]

Thank you for your reply!

In fact, my GPA of 3.0 (German grade of 2.4, 1.0 being the maximum and 4.0 the minimum) is apparently below my class's average, as I am in the 35th percentile. Is this going to be a problem?

Also, if i understand you correctly, I have high chances of getting a scholarship at any Top 15-30 US busciness school, but none at any of the Top 10?

Thanks again!
quote
smartcanad...



Thank you for your reply!

In fact, my GPA of 3.0 (German grade of 2.4, 1.0 being the maximum and 4.0 the minimum) is apparently below my class's average, as I am in the 35th percentile. Is this going to be a problem?

Also, if i understand you correctly, I have high chances of getting a scholarship at any Top 15-30 US busciness school, but none at any of the Top 10?

Thanks again!


I don't know much about the German grading system, so can't comment on that part.

Regarding your other question, yes. You have a much higher chance of getting a scholarship at schools in those range.

However, you should still apply to some elite schools (M7) as you never know. For the M7 programs, the scholarships are given based on a more holistic review of your profile. So working for a prestigious firm and saving the planet will have a big impact on any scholarship offers.

[Edited by smartcanada on Mar 19, 2020]

[quote][quote]

Thank you for your reply!

In fact, my GPA of 3.0 (German grade of 2.4, 1.0 being the maximum and 4.0 the minimum) is apparently below my class's average, as I am in the 35th percentile. Is this going to be a problem?

Also, if i understand you correctly, I have high chances of getting a scholarship at any Top 15-30 US busciness school, but none at any of the Top 10?

Thanks again![/quote]

I don't know much about the German grading system, so can't comment on that part.

Regarding your other question, yes. You have a much higher chance of getting a scholarship at schools in those range.

However, you should still apply to some elite schools (M7) as you never know. For the M7 programs, the scholarships are given based on a more holistic review of your profile. So working for a prestigious firm and saving the planet will have a big impact on any scholarship offers.
quote
smartcanad...

Also consider that the net impact of scholarships is a worse MBA that reduces your lifetime value: The sad facts about scholarships http://www.find-mba.com/board/37055


I loved my scholarship - saved me over 100K in tuition and fees. I am glad I am not paying those loans. You should not actively discourage people from receiving scholarships - you are not from a developing country (like most people here) and don't understand the risks involved. For someone like me originally from a poor country, a loan of 200K is equivalent to having a loan of 600K if I chose to go back to my home country (where salaries are 1/3 of the US).

For the rest of us from developing countries, scholarships changed our lives for the better. I now have a high-paying job in Canada thanks to the US work experience that I received through efforts of my placement office.

I might be a small sample size but in my current organization in Canada I have a higher job level than graduates of INSEAD, Wharton and Rotman, most of whom were born in developed countries like the UK or Canada. Coming from a poor country, I am always proud of that scholarship and the effort I put into my GMAT to get those scholarship offers. I honestly don't think it would have made any difference to my career if I had attended another program.

[Edited by smartcanada on Mar 19, 2020]

[quote]Also consider that the net impact of scholarships is a worse MBA that reduces your lifetime value: The sad facts about scholarships http://www.find-mba.com/board/37055 [/quote]

I loved my scholarship - saved me over 100K in tuition and fees. I am glad I am not paying those loans. You should not actively discourage people from receiving scholarships - you are not from a developing country (like most people here) and don't understand the risks involved. For someone like me originally from a poor country, a loan of 200K is equivalent to having a loan of 600K if I chose to go back to my home country (where salaries are 1/3 of the US).

For the rest of us from developing countries, scholarships changed our lives for the better. I now have a high-paying job in Canada thanks to the US work experience that I received through efforts of my placement office.

I might be a small sample size but in my current organization in Canada I have a higher job level than graduates of INSEAD, Wharton and Rotman, most of whom were born in developed countries like the UK or Canada. Coming from a poor country, I am always proud of that scholarship and the effort I put into my GMAT to get those scholarship offers. I honestly don't think it would have made any difference to my career if I had attended another program.
quote
Duncan

To be honest, I don't think I am discouraging people: they either finance a better option or they cannot. Free cash is like a loud jet plane landing on your doorstep. I am just blowing a kazoo to point out the opportunity cost for people who have the option to go somewhere better.

To be honest, I don't think I am discouraging people: they either finance a better option or they cannot. Free cash is like a loud jet plane landing on your doorstep. I am just blowing a kazoo to point out the opportunity cost for people who have the option to go somewhere better.
quote
Ayon

760 on GMAT is an excellent score. Congratulations!

I know students who had 740 on the GMAT and got full scholarship + Graduate Assistance or some form of stipend at Michigan State, Penn State, Ohio State, Georgia Tech, William & Mary.

I know a person who got into Tuck with some scholarship and rest was supported by their education loan.

Top 7-10 schools will consider you for admission maybe with some scholarship. Outside of Top 20 US your chances of getting a full ride increases as you go down the list. I think your sweet spot could be Top 10-20 schools.

These could offer you a good combination of Brand name, over achieving classmates and some form of substantial scholarship. Perhaps the likes of Darden, McCombs, Indiana Kelley, Emory, Duke Fuqua, UNC, CMU Tepper. It's not common for these schools to get lots of students from SE EU. Play your diversity card right, combined with your strong GMAT I think you can have these schools compete against each other over a Fin Aid package for you.

Outside of US, Schools in Canada may not offer full rides. I'd encourage you to speak with Ivey, McGill and Rotman. However, the salaries in Canada are way lower than their US counterpart and jobs are limited if you are not into Tech engineering or Finance.

All the best, let us know the result.

[Edited by Ayon on Mar 19, 2020]

760 on GMAT is an excellent score. Congratulations!

I know students who had 740 on the GMAT and got full scholarship + Graduate Assistance or some form of stipend at Michigan State, Penn State, Ohio State, Georgia Tech, William & Mary.

I know a person who got into Tuck with some scholarship and rest was supported by their education loan.

Top 7-10 schools will consider you for admission maybe with some scholarship. Outside of Top 20 US your chances of getting a full ride increases as you go down the list. I think your sweet spot could be Top 10-20 schools.

These could offer you a good combination of Brand name, over achieving classmates and some form of substantial scholarship. Perhaps the likes of Darden, McCombs, Indiana Kelley, Emory, Duke Fuqua, UNC, CMU Tepper. It's not common for these schools to get lots of students from SE EU. Play your diversity card right, combined with your strong GMAT I think you can have these schools compete against each other over a Fin Aid package for you.

Outside of US, Schools in Canada may not offer full rides. I'd encourage you to speak with Ivey, McGill and Rotman. However, the salaries in Canada are way lower than their US counterpart and jobs are limited if you are not into Tech engineering or Finance.

All the best, let us know the result.
quote
George Pat...

To be honest since you are european I would focus on europe. I would choose a country and study on the country I would like to live in, and learn the language as well.

The US is an amazing country and I would love to move there myself one day.
But the simple fact is, you can just pack your things and move anywhere in EU at anytime you want without bothering for visa. Visa which is pretty hard to get in the US.

I believe you can find equally good opportunities in europe, and equally nice countries to live, without the added risk of visa.

In any case you need at least 3 years of experience and show career progression (promotion or similar) to be even accepted in a good school, let alone to get scholarship. Even with a good gmat it is very very rare for schools to waive the 3 years work experience.

My opinion: Work 1-2 more years, collect more money, learn the language and apply with 3-4 years of work experience.

To be honest since you are european I would focus on europe. I would choose a country and study on the country I would like to live in, and learn the language as well.

The US is an amazing country and I would love to move there myself one day.
But the simple fact is, you can just pack your things and move anywhere in EU at anytime you want without bothering for visa. Visa which is pretty hard to get in the US.

I believe you can find equally good opportunities in europe, and equally nice countries to live, without the added risk of visa.

In any case you need at least 3 years of experience and show career progression (promotion or similar) to be even accepted in a good school, let alone to get scholarship. Even with a good gmat it is very very rare for schools to waive the 3 years work experience.

My opinion: Work 1-2 more years, collect more money, learn the language and apply with 3-4 years of work experience.
quote
Larry

Just FYI, at a school like Harvard, they generally provide around 50% of their students with some kind of scholarship. Also at Harvard, the average scholarship is $40k per year. Stanford gives out a similar amount of average scholarships.

Just to say that if you are aiming high, have a good profile and have financial needs, there is a solid chance you'd get *some* kind of funding.

Just FYI, at a school like Harvard, they generally provide around 50% of their students with some kind of scholarship. Also at Harvard, the average scholarship is $40k per year. Stanford gives out a similar amount of average scholarships.

Just to say that if you are aiming high, have a good profile and have financial needs, there is a solid chance you'd get *some* kind of funding.
quote
edma

That's a very good GMAT score. For international students, the GMAT is more important than your grades (as long as you weren't below average in your class).

I got a full ride for my MBA in the US (top 30 program) and much of it was from my GMAT score I think. Usually, your odds of getting a very large or full scholarship are good if (1) your GMAT is 80 to 100 points above the average and (2) your program is rankings-conscious - meaning they are trying to move up. The GMAT score is a way for some programs to get better rankings, so they actively try to recruit high GMAT takers.

What I mentioned does not apply to the really elite schools (US top 7) where they are more focused on your overall profile and there is less focus on the GMAT.

Good luck on your quest!


could you please provide more insights into the business school you got a full scholarship?
thanks!

[quote]That's a very good GMAT score. For international students, the GMAT is more important than your grades (as long as you weren't below average in your class).

I got a full ride for my MBA in the US (top 30 program) and much of it was from my GMAT score I think. Usually, your odds of getting a very large or full scholarship are good if (1) your GMAT is 80 to 100 points above the average and (2) your program is rankings-conscious - meaning they are trying to move up. The GMAT score is a way for some programs to get better rankings, so they actively try to recruit high GMAT takers.

What I mentioned does not apply to the really elite schools (US top 7) where they are more focused on your overall profile and there is less focus on the GMAT.

Good luck on your quest![/quote]

could you please provide more insights into the business school you got a full scholarship?
thanks!
quote
smartcanad...

https://poetsandquants.com/2020/04/22/u-s-versus-the-world-the-battle-of-gmat-scores-by-school/3/

Nice article from Poets and Quants listing the schools with the biggest gaps in international vs domestic GMAT scores.  This type of gap is usually explained by schools that are trying to improve their rankings through GMAT scores.  
Noticeable schools with the widest gaps:
NYU Stern
Indiana Kelley
Rice
Georgia Tech
Minnesota
BYU
Notre Dame
Ohio State
Arizona State
Michigan State
Arizona
Utah
Those are the current list of schools I would recommend high GMAT scorers apply to if they are aiming for a full-ride or substantial scholarship. 

[Edited by smartcanada on Apr 25, 2020]

<div><a href="https://poetsandquants.com/2020/04/22/u-s-versus-the-world-the-battle-of-gmat-scores-by-school/3/">https://poetsandquants.com/2020/04/22/u-s-versus-the-world-the-battle-of-gmat-scores-by-school/3/</a><br></div><div><br></div>Nice article from Poets and Quants listing the schools with the biggest gaps in international vs domestic GMAT scores.&nbsp; This type of gap is usually explained by schools that are trying to improve their rankings through GMAT scores.&nbsp;&nbsp;<div><br></div><div>Noticeable schools with the widest gaps:</div><div><br></div><div>NYU Stern</div><div><br></div><div>Indiana Kelley</div><div><br></div><div>Rice</div><div><br></div><div>Georgia Tech</div><div><br></div><div>Minnesota</div><div><br></div><div>BYU</div><div><br></div><div>Notre Dame</div><div><br></div><div>Ohio State</div><div><br></div><div>Arizona State</div><div><br></div><div>Michigan State</div><div><br></div><div>Arizona</div><div><br></div><div>Utah</div><div><br></div><div>Those are the current list of schools I would recommend high GMAT scorers apply to if they are aiming for a full-ride or substantial scholarship.&nbsp;</div><div><br></div>
quote
Duncan

That is a fascinating table. I am curious to see some schools have a higher domestic GMAT, like Georgia. Maybe that's a good target for a self-funded international student?

That is a fascinating table. I am curious to see some schools have a higher domestic GMAT, like Georgia. Maybe that's a good target for a self-funded international student?
quote

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