How GMAT Can Help You Land MBA Scholarships in India
Securing a scholarship to business school in India can be a challenging process, but acing the GMAT could make all the difference. Usually requiring no additional application process, scholarships based on factors such as academic achievement can be particularly competitive. For many programs, all prospective MBA students are automatically entered into consideration—so how can you make your profile stand out?
Most top MBA programs in India accept the GMAT, administered by the Graduate Management Admission Council (GMAC). With more than 60% of business students who take the trusted exam gaining places at notable business schools, it is the most widely used psychometric test for MBA admissions.
If a scholarship is what you need to bring your business acumen to the right room, this article breaks down exactly how the GMAT can increase your chances of landing a scholarship to business school in India.
How GMAT can help you secure a business school scholarship in India
Leading business schools, government initiatives, and private organizations offer various scholarship schemes to support accessibility to business education. Diversity and need-based scholarships are tailored for candidates from certain demographics, whereas merit-based scholarships target candidates based on factors such as academic excellence. Qualifying for a merit-based scholarship is dependent on your GPA, work experience, recommendations, and the all-important admission test score—such as the GMAT.
As the Indian education landscape continues to evolve in line with market changes, and developments in business and technology, the GMAT has been purposefully designed to test critical skills relevant to graduate programs and the job market—making the GMAT one of the best indicators of a business student’s ability.
At two hours and 15 minutes, the exam is divided into three sections: Quantitative Reasoning, Verbal Reasoning, and Data Insights.
For aspiring scholarship holders who lack professional experience or a strong GPA, scoring highly in the GMAT showcases your ability to handle the rigor of a business school program. Equally, for candidates from a Liberal Arts background, a high score on the Quantitative Exam demonstrates to an admissions team that you have a well-rounded skillset in line with the requirements of the program.
Obtaining a merit-based scholarship in India
The Indian School of Business (ISB), ranked as the top business school in India, according to the Financial Times 2024 Global MBA Ranking, offers merit-based scholarships ranging from 25% to 100% tuition coverage. Many are open to candidates of all backgrounds, while others specifically support female students or applicants from diverse backgrounds.
For admission to the Post Graduate Program in Management (PGP), equivalent to an MBA, candidates must have a valid GMAT/GRE score. Although the Indian School of Business cites its GMAT score admission range as broad, scoring over 645 on the GMAT will help you stand out to many business schools, having scored higher than 86% of test-takers.
While all students are automatically considered upon application, ISB's senior director of admissions and financial aid has suggested that: “Candidates would do well to ready their ISB MBA application in early rounds if they are hoping to be awarded scholarships, since maximum award amounts are earmarked for rounds one and two.”
The Indian Institute of Management Bangalore (IIMB), ranked third nationally according to the Financial Times, requires a valid GMAT/CAT score for acceptance to the Post Graduate Program in Management in Management (PGP), and a GMAT/GRE the Executive Post Graduate Program in Management (EPGP).
Emphasizing the importance of the exam in a candidate’s overall profile, the IIMB admissions website clarifies: "the GMAT/CAT score is one of the more important parameters". Beyond a selection criterion, it is also used to establish the minimum level of proficiency that is expected from the candidate in respective faculties as indicated by section-wise minimum scores in the GMAT/CAT. While students have the possibility to select between the GMAT and CAT, the global recognition of the GMAT and its five-year validity, in contrast to the one-year validity of the national CAT exam, makes this a particularly attractive option.
Improving your chances of securing MBA scholarships
Limited business scholarship places and high competition make it particularly challenging to land a scholarship at your desired school, so it’s important to take a holistic view of your application in order to put forward a strong profile.
As well as cultivating a strong GMAT score, factors such as your undergraduate GPA, work experience, professional recommendations, application essays, and resume, are all considered when allocating scholarship opportunities.
A successful MBA essay will transmit your personal brand as a candidate—your goals, professional and personal qualities, and how you align with that particular program and school. Tailoring your answers to each school, ensuring that all parts of the question are addressed, and proofreading carefully, are all important for producing a top MBA essay. Supporting your personal brand with academic credentials such as the GMAT is a great way of consolidating your well-rounded skillset and hardworking attributes.
Top tips for acing the GMAT
Beginning your application well in advance can significantly increase your chances of landing scholarship opportunities and scoring highly on the GMAT.
Make use of GMAT study materials, including practice questions, practice exams to simulate the real thing, and the GMAT Official Guide. During your preparation, it's a good idea to complete all question on mock papers so you can evaluate your answers. This allows you to determine the areas you're less confident in, and any mistakes you might be making in your approach to certain questions. Identifying your weaker topics is essential to uncovering gaps in your knowledge, to then plan your studying accordingly.
Beyond exam content, it's important to put your test-taking skills to the test through timed practice exams. Perhaps there are certain topics you score highly on when given enough time, but on exam day, factors such as time-management, pacing, and focus, can make all the difference. Knowing how much time to spend on each question is crucial.
To increase your chances of landing a merit-based scholarship, it's useful to know what to aim for, and how much more you need to prepare. Researching the class average score of your target schools can give you valuable insight. For top schools, this tends to be in the 86th percentile or higher, although scores by accepted MBA students can range from the 44th to 99th percentile.
For many students pursuing careers in business, scholarship programs are the key to unlocking the career potential of business school. With these top tips on how the GMAT can set you up with the best chances of scholarship success, you're one step closer to your dream MBA.