This scholarship is offered by the International Institute for Management Development (IMD), a private business school located in Lausanne, Switzerland. The IMD MBA Scholarship aims to encourage high achievers from around the globe who do not necessarily have the financial means to apply, but do have the potential, drive and passion to undertake the MBA program.
Eligibility Criteria
To be eligible for the IMD MBA Scholarship 2024-2025, you must meet the following criteria:
- You must have a bachelor’s degree or equivalent from a recognized institution.
- You must have at least three years of full-time work experience in any industry or function.
- You must have a strong command of English, as the MBA program is taught entirely in English. You may be required to submit a valid TOEFL or IELTS score as part of your application.
- You must demonstrate exceptional leadership potential, academic excellence, and professional achievements.
- You must show a clear vision of your career goals and how the MBA program will help you achieve them.
- You must have a genuine interest in global issues and a commitment to social responsibility.
Financial Coverage
The IMD MBA Scholarship 2024-2025 is a fully funded scholarship that covers the following expenses:
- The full tuition fee of CHF 85,000 for the one-year MBA program.
- A monthly stipend of CHF 3,000 for living expenses.
- A travel allowance of CHF 2,000 for round-trip airfare from your home country to Switzerland.
- A laptop allowance of CHF 1,500 for purchasing a laptop for your studies.
- A health insurance coverage for the duration of your studies.
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Requirement
To apply for the IMD MBA Scholarship 2024-2025, you must fulfill the following requirements:
- You must complete and submit the online application form for the MBA program on the IMD website.
- You must upload all the required documents, such as your resume, transcripts, diplomas, GMAT or GRE score report, TOEFL or IELTS score report (if applicable), essays, letters of recommendation, and passport copy.
- You must pay a non-refundable application fee of CHF 200 by credit card or bank transfer.
- You must indicate your interest in applying for the scholarship by checking the appropriate box on the application form and writing an additional essay on why you deserve the scholarship and how it will benefit you and your community.
Document Requirement
The following documents are required to apply for the IMD MBA Scholarship 2024-2025:
- A resume that summarizes your education, work experience, achievements, and extracurricular activities.
- Transcripts and diplomas from all the institutions you have attended or are currently attending. If they are not in English, you must provide official translations.
- A GMAT or GRE score report that is not older than five years. The average GMAT score of admitted students is 680 and the average GRE score is 325. There is no minimum score requirement, but higher scores will strengthen your application.
- A TOEFL or IELTS score report that is not older than two years. The minimum TOEFL score required is 100 (internet-based) and the minimum IELTS score required is 7.0. You may be exempted from this requirement if you have completed your bachelor’s degree or higher in English or if you are a native speaker of English.
- Three essays that answer the following questions:
- Why do you want to pursue an MBA at IMD? (maximum 500 words)
- What are your short-term and long-term career goals? How will an MBA from IMD help you achieve them? (maximum 500 words)
- Describe a situation where you faced a significant challenge or failure. How did you overcome it and what did you learn from it? (maximum 300 words)
- Two letters of recommendation from people who know you well and can attest to your professional and personal qualities. One letter should be from your current or most recent employer and one letter should be from someone else who can provide a different perspective on your profile. The letters should be written in English and uploaded by your recommenders on the IMD website.
- A copy of your passport or national identity card that shows your name, date of birth, nationality, and photo.
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Application Procedure
The application procedure for the IMD MBA Scholarship 2024-2025 consists of the following steps:
- Step 1: Create an account on the IMD website and start your online application for the MBA program. You can save your progress and return to it later.
- Step 2: Fill out the application form with your personal and academic information, work experience, test scores, essays, and scholarship interest.
- Step 3: Upload all the required documents and pay the application fee of CHF 200.
- Step 4: Submit your application before the deadline. You will receive a confirmation email from IMD once your application is complete and received.
- Step 5: Wait for the admission decision from IMD. You will be notified by email if you are shortlisted for an interview. The interview will be conducted either on campus or online, depending on your location and availability. The interview will last about one hour and will assess your fit for the MBA program and the scholarship.
- Step 6: If you are accepted into the MBA program and awarded the scholarship, you will receive an official offer letter from IMD. You will have to confirm your acceptance and pay a deposit of CHF 15,000 within two weeks of receiving the offer.
Deadline
The deadline to apply for the IMD MBA Scholarship 2024-2025 is September 1, 2023. This is also the final deadline to apply for the MBA program starting in January 2024. However, it is recommended that you apply as early as possible, as there are four earlier deadlines throughout the year that offer some advantages, such as early bird discounts, priority for on-campus accommodation, and more time to prepare for your visa and relocation. The earlier deadlines are:
- February 1, 2023
- April 1, 2023
- June 1, 2023
- August 1, 2023
How to Apply
To apply for the IMD MBA Scholarship 2024-2025, you must follow the online application process described above. You can access the online application form on the IMD website. You can also find more information about the MBA program and the scholarship on the same website. If you have any questions or concerns, you can contact the IMD MBA admissions team at mba@imd.org or +41 (0)21 618 0707.
Scholarship Official website: IMD MBA Scholarship 2024-2025
