If you are a management professional who is at the mid-level of your career, you might be wondering how you can boost your career and improve managerial skills while continuing with the work. The best thing you can do at this point is pursuing an Executive MBA. An Executive MBA (EMBA) is a postgraduate management course specifically designed for working professionals. However, pursuing an EMBA from top universities can be very expensive. This is where scholarships come into the picture. Due to the rising popularity of the course, many universities are now offering scholarships for EMBA students. However, there are some documents needed to apply for Executive MBA Scholarships and some things to keep in mind while applying for these. Let’s take a look at those.
What Are the Things to Keep in Mind When Applying for EMBA Scholarships
- Do your research on Executive MBA scholarships
Before applying for an EMBA, do your research to find the EMBA scholarships you can avail of. List down the names of colleges you wish to apply to and check their official websites. This will help you understand the scholarships offered by each college and check if you are eligible for the same. A lot of business schools grant merit-based scholarships for highly-skilled candidates to help them pay their MBA program fees. The percentage of the fees being sponsored depends on the college and the scholarship. However, in some cases, the academic or professional excellence of the candidate is also taken into consideration.
- Be ahead of the deadline
Business schools receive numerous EMBA scholarship applications from the applicants. Hence, chances are there that if you submit the application at the last moment, it may go unnoticed. As a general rule, Round 1 of the admissions is when you will have the maximum chances or opportunities to gain a scholarship. Hence, try to submit your application for scholarships as early as possible. However, keep in mind that scholarships are granted based on several factors such as your GMAT scores, essays, recommendations and interviews.
- Highlight your professional experiences
As we mentioned above, EMBA is a course exclusively for working professionals. Hence, while building your profile for EMBA scholarships, highlight your work experiences and areas of expertise. Do not forget to mention your professional, academic and personal achievements that can prove that you are an ideal candidate.
- Don’t hesitate to ask questions to the admission committee
If you have any doubts about the scholarship process, ask the admission committee. It is always better to gain information from reliable authorities than guessing or moving on based on misleading information. Besides, asking questions creates an impression that you are genuinely interested in pursuing the course and getting the scholarship. This will help you during the admissions.
- Gather information on educational loans
Many EMBA applicants, including those who opted for part-time programs, depend on loans to find the funds needed for EMBA. To help students like you, some business schools even offer loan services themselves, lending them directly to you. Other schools may have collaborated with banks or third party loan companies. These loans are usually offered for over five years, and the repayment schedule starts six months after graduation. Such education loans are often granted at low rates of interest so that you can pay them back once you graduate. Hence, if you are planning to take a loan, find out the options you have from the colleges or directly from the banks. Compare the rates of interest and shortlist the best and most suitable one as per your requirements.
- Employer sponsorship for EMBA
Sometimes, you’ll receive sponsorship from the companies you work for. The best way to secure sponsorship from your employer for an Executive MBA is by convincing them on how you completing an MBA degree will help their company. You can talk about how an EMBA helps you professionally and what benefits the company would have from this.
Checklist to Apply for Executive MBA Scholarships
The documents to apply for executive MBA scholarships vary based on the universities you apply to. However, below are the basic requirements needed to apply for an EMBA.
- Updated CV
- Passport-size photo
- Academic transcripts
- Letter of support from your organization
- Photocopy of ID card or passport
Your professional success depends highly on learning new skills and being prepared to make career changes at the right time. An EMBA degree just helps you do that. However, if you are planning to fund your studies with scholarships, there are certain things you need to check. This article on things to keep in mind when applying for Executive MBA scholarships will help you make an informed decision. Good luck!