Its that time of the year again, and my inbox is being bombarded with emails from applicants for information on the b-school admission process. At some point every single email asks me
“Here is my profile. What are my chances of securing a scholarship at XYZ school?”
Its a good question. Here’s the obvious answer- Your scholarship chances depend upon where you stand in terms of GMAT+Quality of Work experience compared to rest of the applicants pool.
However, here’s what nobody tells you about B-School Scholarships
Scholarships are great way for a b-school to retain the best talent they can from their applicant set. Similar tier schools attract candidates with similar profiles. E.g. Applicant profiles at Kelley, McCombs, Olin are very similar. So all things being equal , if you have already secured an admit from one of these schools and you are also interviewing with another – mentioning your admit during the interview process skyrockets your chances of an admit and a bigger scholarship.
Another one is just Demand and Supply. Assuming applicants applying to similar schools have similar merit standings – The more an applicant reaches out to the adcom and expresses an over-enthusiasm to join their school – the lower the scholarship offered. I know that sounds counterintuitive – just think about it, the more you express your desire to join a certain business school- the adcom is now aware that you really want to join if you were offered an admit-even if you were offered little (or none) scholarship.
Welcome to Business school.