Only 4% of executives in the United States are black and only 6% are Hispanic. Women, Native Americans, the LGBTQ + community, and people of color remain underrepresented in the workforce and in the business school classroom.
However, U.S. business schools are taking steps to encourage MBA diversity by offering a variety of MBA scholarships for minorities, a great way to help you fund your studies in a top-notch business school, regardless of your background.
On June 2, The MBA Tour will host a focus on diversity, equity and inclusion for Black and Latinx MBA candidates, with leading schools in the United States presenting their MBA scholarships and other resources to support minority candidates. You can sign up for the virtual event for free.
For under-represented group MBA candidates, here are 25 diversity-based scholarships that will help you fund your MBA studies at a U.S. business school, available nationwide and school-by-school.
You can go to the section of interest by clicking on the following links:
Black / African American MBA Scholarships
Latinx MBA Scholarships
MBA scholarships for women and LGBTQ + MBA scholarships
More minority (e.g., industry-specific) MBA scholarships
Black / African American MBA Scholarships
Amount: $ 25,000
The Whitney M. Young Jr. Scholarship is run by the African American MBA Association (AAMBAA) of Wharton University. The scholarship is reminiscent of Whitney M. Young Jr., a U.S. civil rights leader who led the National Urban League (the largest civil rights organization in the world at the time) from 1961 to 71. The scholarship provides each studying a $ 25,000 scholarship each year.
Quinton McArthur, Wharton’s Senior Diversity Deputy Director for MBA Admissions, states: “Over the years, our WMY Fellows have been leaders, role models, and embodied qualities that lend themselves to greatness.
“The WMY Fellowship is an annual reminder that AAMBAA and the Black community have had a significant impact on campus for decades.”
Amount: $ 25,000 – Full registration
There is a wide variety of scholarships available through the National Black MBA Association (NBMBAA) which offers various amounts of funding. At Ohio State University’s Fisher College of Business, NBMBAA academics receive $ 50,000 in funding, while in the state of Arizona the scholarship is worth $ 25,000. Other business schools such as Georgetown University’s McDonough School of Business offer needs-based funding for academics who can cover the entire tuition.
Paul North, Executive Director of Fisher’s Graduate Programs, says: “Fisher College of Business values and prioritizes diverse classroom experiences while fostering unique perspectives and diversity in all its forms.
“Fisher’s MBA program is committed to scholarship students from diverse social and ethnic backgrounds.”
Duke Fuqua Business School announced the HBCU Darryl T. Banks Scholarship in 2020 on the recommendation of the school’s racial equity working group, a joint team of 18 teachers, alumni and students. The merit-based award will focus on supporting students joining Duke from a historically black university or college (HBCU). The title pays homage to Darryl T. Banks, a former student and teacher of Fuqua, who joined the school from an HBCU in 1986.
Duke Admissions and Director of Diversity Initiatives Duke Sharon Thompson says: “By offering merit scholarships to recruit diverse talent from all backgrounds and experiences, we are removing barriers, strengthening our communities and developing leaders who the world needs it ”.
Amount: Full registration
Professor Sterling Schoen of the University of Washington created The Consortium for Graduate Study in Management to help African American students acquire the skills they need to take on roles in American companies. Since then, the Consortium has offered more than $ 465 million to MBA students in America.
Full tuition scholarships are available for students who can demonstrate their commitment to the Consortium’s mission to help reduce the severe under-representation of African Americans, Hispanic Americans, and Native Americans in both school enrollments and ranks. of direction.
The consortium includes schools such as Tuck School of Business, Kelley School of Business, McCombs School of Business, Simon Business School, Jones School of Business and many more.
Lina Bell, Rice’s director of diversity, equity and inclusion, says: “At Jones Business School, we believe that cultural competence is a key skill for our MBA leadership. One of the many ways we foster an appreciation of the diversity of thoughts and opinions is to ensure a representative student. Our portfolio of scholarships (possible for generous donors) allows us to compete for talents of maximum demand ”.
Go to page two for Latinx scholarships.