An MBA can be an incredibly rewarding experience that delivers instant financial and career returns. However, paying for an MBA is the biggest obstacle most potential students face in commencing their studies.
Most of Australia’s business schools offer a range of full or part-time scholarships that can ease the financial pressure with a total of more than $10 million available to students.
If you are thinking of doing an MBA here are just some of the scholarships that you may qualify for.
AIM Business School
The AIM Business School is offering an uncapped number of scholarships, which means if you meet the criteria, you get the money.
AIM Business Schools Women in Leadership Scholarship supports the professional development of current and emerging Australian female leaders. Successful applicants will receive a $500 tuition reduction for every unit of study from their higher education program, worth up to a total of $6,000.
Scholarship recipients will also receive immediate access to the Women Leaders: Own Your Success short course presented by AIM.
AIM Business School has also developed the Regional Australians Scholarship to develop the business capabilities of regionally based leaders and managers to support the growth of Australia’s essential regional economies.
Successful applicants will receive a $500 tuition reduction for every unit of study from their higher education program, worth up to a total of $6,000.
UQ Business School
UQ Business School offers up to 13 scholarships valued at 25% of tuition fee for students starting the MBA program. The scholarships are available for outstanding students, both domestic and international, who have been accepted into the UQ MBA program. Each scholarship has specific requirements for the application process to support eligible students based on their background and achievements.
UQ also offers the Wandering Warriors and Elevate: Boosting women in Stem Scholarships.
Wandering Warriors is a scholarship that supports veterans transitioning from the Australian Defence Force into civilian life. Valued at 50-100% of tuition fees, the scholarship is awarded every semester to up to three domestic students who are members of the Wandering Warriors Inc and who meet all the MBA entry requirements.
MBA News spoke to Wandering Warriors scholarship recipient Doug Sheridan in 2021. Read his story here.
Elevate: Boosting women in STEM is an external scholarship that aims to address gender inequities in STEM by strengthening the academic, professional and leadership skills of women. The scholarship is on offer to domestic students who identify as a woman and are planning to undertake a STEM degree or an MBA at an Australian university.
The University of Sydney
The University of Sydney Future Leaders MBA Scholarship will cover the $60,000 cost to study’ the country’s top-ranked MBA. The Scholarship is open to all students who meet the eligibility criteria for admission to the part-time MBA.
The competitive three-stage evaluation process fo the scholarship includes providing a copy of your CV, academic transcript, and personal statement of motivation detailing how you demonstrate leadership experience and potential in your chosen field, and what you hope to achieve professionally and personally by completing the University of Sydney MBA.
Shortlisted applicants are required to attend a masterclass and submit a short reflective essay. Applications for the Semester 2 scholarship close on April 17.
Melbourne Business School
Melbourne Business School offers several $50,000 Diversity Excellence Scholarships every year to exceptional Full-time MBA candidates who will enrich the study experience through the diversity of culture, outlook or background they bring to the classroom.
These scholarships provide an opportunity for excellent Full-time MBA applicants to draw on their unique backgrounds to bring fresh perspectives to business problems and challenges.
Full-time MBA applicants who receive an offer of admission are automatically considered. Shortlisted applicants may be invited to participate in an interview.
AGSM@UNSW offers a range of different scholarships including the $48,000 Luminis Foundation AGSM Wharton Business Innovation Scholarship.
The purpose of the Scholarship is to encourage full time study in the AGSM MBA program and the Wharton School, University of Pennsylvania, USA. The scholarship will be for the full-time MBA program, with a session at Wharton (on student exchange). The recipient will be provided with career services by Wharton for the period of their exchange.
Applicants will be assessed on the basis of academic merit; leadership skills (workplace or community); demonstrated ability to contribute to the Australian business community and demonstrated record of business innovation. Applications close 31 March, 2023.
The UTS MBA Scholarship for Outstanding Students is valued at $5,000. To be eligible for the Scholarship, an applicant must have completed a UTS recognised degree and met the UTS MBA entry requirements, must be commencing the UTS Master of Business Administration (MBA) program and have achieved a minimum academic achievement of Distinction average (75%) in their qualification used as a basis for admission to the MBA.
Applications for the UTS scholarship close on March 23.
Monash Business School
The Monash Business School offer the Global Executive MBA Women in Leadership sponsorship, which is awarded to encourage and support Australian professional women in their pursuit of an Executive MBA.
Sponsorships are limited in number and are valued at either $5,000 or $10,000.
To be eligible for this sponsorship, candidates must have applied for the Monash Global Executive MBA Program and be a female Australian citizen, or holder of an Australian permanent resident visa, or permanent humanitarian visa.
Successful applicants for the Global Executive MBA Women in Leadership sponsorship will be selected based on the following criteria:
- Career trajectory – a review of the applicant’s career journey and achievements to date
- Career planning – a projection of the applicant’s professional career aspirations, including highlights from an action plan to achieve these
- Contribution – the applicant’s ability to contribute to the advancement of professional women in their organisations and their communities