A veritable deluge of money is raining down on MBA students, but never before this year had the downpour been quantified. The numbers are staggering. Take this one: the 10 schools that spend the most on MBA scholarships are giving students more than $150 million per year.
Because of the extremely competitive environment in which business schools operate and squabble over students, many institutions are reluctant to make public the details of their scholarship spending. A few are willing to hand over the information. Some publicize limited data. Others strive to keep all scholarship spending numbers top secret.
Until Poets&Quants this year published a groundbreaking series on MBA scholarships, featuring a detailed breakdown of scholarship spending by the nation’s top 25 business schools, there was no single place to go to find out who’s spending how much on scholarships, how many students are benefiting, and how much money students are receiving.
A BRAND NEW RESOURCE FOR MBA APPLICANTS
In an exhaustive three-month investigation, Poets&Quants sifted through publicly available data, cajoled business school officials into coughing up historically unreleased data points, and obtained information from business school insiders to produce a comprehensive scholarship-spending list that allows MBA applicants and students to measure schools’ largesse one against another, to calculate their chances of obtaining scholarships, to get a handle on what support might accompany an admission offer from a particular school, and to see which schools are digging deepest to enroll the best candidates.
In the seven-part Poets&Quants scholarship series, we detail the all-out war among B-schools over students. We reveal the tactics that work – and those that backfire miserably – during negotiations over scholarship funding. We describe trends in scholarship spending, and highlight the categories of applicants who have the best chances for receiving money. And we show, through a profile of a Harvard Business School MBA who rose from poverty to bio-science entrepreneurship, the power of a scholarship to transform a life. Links to the series are below.
TOP TEN BUSINESS SCHOOLS FOR MBA SCHOLARSHIPS
|School||Total Scholarships||% of Gross Tuition||Average Grant||% of MBAs on Scholarship|
|Harvard Business School||$31.5 million||28.6%||$32,000||50%|
|Penn (Wharton)*||$16.9 million*||14.8%||$30,500||33%|
|Chicago (Booth)*||$16.3 million*||22.6%||$30,000||60%|
|Stanford GSB||$15.7 million||31.0%||$35,830||52%|
|Michigan (Ross)*||$15.4 million||27.5%||$22,360||48%|
|New York (Stern)||$12.8 million||26.8%||$26,400*||62%*|
|UCLA (Anderson)||$12.1 million||22.4%||$25,860||65%|
|Northwestern (Kellogg)||$11.8 million||27.9%||$22,800||35%|
|Columbia Business School*||$10.1 million||12.5%||$20,500||46%|
|Virginia (Darden)*||$8.4 million||23.4%||$30,800||43%|
Source: Poets&Quants from business school reports
Notes: An asterisk denotes estimates by Poets&Quants based on interviews with rival business school administrators and admission consultants
DON’T MISS: THE POETS&QUANTS SCHOLARSHIP SERIES: