B-School scholarships

Hi sir/madam, I completed my B.Tech in Electrical Engineering. I have knowledge in technical studies, but I am passionate about doing my MBA from the best college. Which college is the best among the present ones. Is it the IIMs, other B-schools or State Level colleges like Osmania university or others? I have also applied for ICET. I hail from a middle class family and am financially poor. Please give the details of scholarships provided by B-schools and IIMs.

I read in some articles published in educational portals and friends suggestions that higher studies from state level colleges dont provide better foundation. I also heard that after getting some experience in a job, one can pursue their Masters in Business and this provides an added benefit. I have experience in business development as I worked for three months in a company on a contract basis. Please suggest what should I do. -Sathish M

MBA is a practitioner’s degree and has proved to be an added advantage to a technical degree. Your engineering skills make your analytical and logical skills stronger whereas MBA will teach you the basic principles of management. For any business to run successfully and build an effective organizational structure, an MBA is a must in today’s competitive world.

As management and technology are two sides of the same coin, if your technical skills are complemented by managerial skills, then the conjoint working of these two skills shall bring you lot of success and satisfaction. However, the challenge you face now is choosing the right and a premier institute. It’s seen that thousands of students pass out every year with an MBA degree but there is a shortage of good jobs.

Refer to the site http://www.shiksha.com/topmba-colleges-in-india-rankingpage-2-2-0-0-0. This will give you a picture of the cut off percentile, location and entrance exam and fee structure of top Indian Colleges offering an MBA full time course. Also, choose the right stream and prepare sincerely for entrance tests like, GMAT, CAT, MAT, XAT, etc., as getting admissions in any one of the best B Schools is not easy. The CAT exam is accepted by 13 IIMs and 150 B-schools in India.

In ICET, the selection is based on the MCA/MBA demand and there is always a fluctuation in the admission process. You can subscribe to icetcounselling. com and get the latest information about previous year’s last rank details and their admissions. This year’s ICET results are out and a total of 88.33 per cent of students are qualified in the Integrated Common Entrance Test (ICET)-2015

Regarding scholarships, few institutes and trusts offer support through merit-cum-need scholarships, bursaries, topper discounts and complete fee waivers to the deserving students.

The select B-Schools that offer scholarships are as follows:

• Amity Business School, awards around 100% and 90% scholarships- 100% scholarships for students with 93% aggregate in CBSE/ICSE board of class 12 and 80% in graduation.
• 50% scholarship is give to students with 88% aggregate in CBSE/ICSE board of class 12 and 75% in graduation. 20% scholarship is given to students with an 85 Percentile in CAT- and 700 and above in MAT
• IBA, Banglore awards varied scholarships based on merit, entrance test, etc Student/s having aggregate marks of 60% or above in Class Xth, XIIth and graduation are awarded a scholarship of Rs.25,000/-
• Student/s having aggregate marks of 70% or above in Class Xth, XIIth and graduation, are awarded a scholarship of Rs.30,000/-.Students with 80 % or above in CAT/XAT/GMAT or 95% or above in MAT/ATMA or a rank of 1-999, are awarded a scholarship of Rs.40,000/- For more details refer site: http://iba.ac.in/wp-content/uploads/2015/01/MBA_Fee_Structure_indian.pdf
• The Aditya Birla Group scholarships award Rs. 1,75,000 per annum to 160 students from IIMs and XLRIs based on their entrance exam ranking at the time of admission and have to apply through the dean of the respective institutes. For further details regarding the different rounds and criteria of evaluation refer site http://www.adityabirlascholars.net/about/The_scholarship.aspx
• IIMA, awards need-based scholarships for the economically weak students who wish to pursue the PGP and PGP-ABM from the institute. It is based on the annual gross family income and some other factors.

The IIMA need-based scholarship is for students whose gross annual family incomes do not exceed Rs. 200,000 during the last financial year. They are eligible to apply for scholarships up to full tuition fee under the IIMA Special Scholarship Scheme (ISSS). Family income is taken as the income of parents/guardians and spouse and it does not include income earned by the student or the student’s siblings.

There is the Income linked special fee waiver scholarship which is for students whose total family income does not exceed Rs. 6 lakh in the last financial year and are eligible for the fee waiver scheme.

IIML offers scholarships to 15% based on merit and family income. The Bharati Scholorship which gives an amount of Rs 50,000 p.a. to meritorious and needy students (annual income not exceeding Rs 1.08 lakhs)

Institute for Financial Management and Research, Chennai, awards to a few commendable candidates. The scholarship amount ranges from Rs 1,00,000 to full waiver of tuition fees.

ISB awards both need and merit based scholarships, every year, in the form of fee remission, to outstanding candidates. The ISB also partners with several corporates to provide scholarships during the course of the academic year. Citibank, HSBC and Novartis Group offer scholarships up to INR 6,00,000.

Faculty of Management Studies, New Delhi awards 10 Sanwa Bank Foundation scholarships, five each to the students of the 1sst years and 2nd year MBA (regulars) an amount equivalent to US $500 .

Two ‘Nestle India Scholarship’ to students of 1st year and 2nd year of MBA (regulars) an amount of value Rs 1,00,000 /- and Rs 75,000/ per annum

GE scholarship of 1,00,000/ per annum to students based on their results of first year.

Other scholarships are:

• Shroff Family Charitable Trust offers: Need-based scholarships
• SRM Founder's Scholarships: Merit cum means scholarships: Full scholarships, 25 percent to 100 percent tuition fee waivers, are offered to students with financial difficulties, based on their performance in the qualifying examination.
• GOI merit-cum-means scholarships
• OP Jindal Engineering and Management Scholars
• Ocwen Scholarship for Competence in Academics
• ONGC SC/ST Merit-cum-Means Scholarships

For other scholarships awarded by various state governments, refer site: www.iimahd.ernet.in/users Choosing the best and suitable type of scholarship could prove to be a challenging task and the ultimate responsibility lies solely with you. An experience of three months is not enough. An experience of minimum two years would be beneficial in fetching an admission into a premier B-School. All the best!!

By:shehre banu