What are the top business master’s scholarships for women?

Female representation in the world of business still has a long way to go. Despite progress, gender parity has yet to be achieved—marking a significant issue for women’s rights.

According to the latest McKinsey Women in the Workplace report, women remain underrepresented across the recruitment pipeline in the United States, with men outnumbering women at every level. Women are less likely to be hired into entry-level roles, making up 49 percent of these positions compared with 51 percent going to men.

The report also finds that women are less likely than men to attain their first promotion to manager level. For every 100 men who are promoted to manager, only 93 women advance, and just 74 women of color do. At the top of organizations, women hold 29 percent of C‑suite roles overall, but women of color represent only 7 percent of these positions.

Recognizing the issue at hand, many business schools are aiming to increase the representation of women in the workplace through master’s degree scholarships designed to help women obtain an education that can accelerate and elevate their careers.

Here is a roundup of some of the current best business master’s degree scholarships for women around the globe.

Best master’s scholarships for women

1. American Association of University Women

Founded in 1881, the American Association of University Women (AAUW) is one of the largest funders of women’s graduate education. It offers scholarship opportunities to support female scholars looking to pursue higher education in the United States.

The International Fellowship for master’s degrees provides support to international applicants who identify as a woman and want to pursue postgraduate studies in a STEM subject in the United States. The aim is to give women the opportunity to further their education before returning to their home countries to launch successful careers.

It is specifically designed for women who are not US citizens or permanent residents, and who have a strong academic record—including a bachelor’s degree with a minimum GPA of 3.5. Applicants should also be able to demonstrate evidence of empowering other women and girls.

Recipients receive a stipend of US$20,000 for their master’s degree, disbursed in two equal payments at the beginning and midpoint of the fellowship term.

2. Women in Public Finance Scholarship

Amount: One scholarship of US$5,000, four scholarships of US$2,500

Women in Public Finance (WPF) offers five scholarships—with a total value of US$15,000—to women targeting a career in public finance. Specifically, it aims to “recognize academic excellence and leadership among college-bound high school students and those continuing undergraduate or graduate studies,” according to the WPF website.

Applicants must identify as a woman, plan to enroll in higher education in the next school year, demonstrate interest in a public finance-related career, display a strong academic record, exhibit leadership skills, and be a US citizen or be planning to study in the United States.

Applications must include a resume and an official or unofficial transcript, along with a 500-word response to the question: Public finance plays a critical role in shaping communities. Why does this field interest you, and how does it align with your personal goals? Those applying for financial support for a graduate program will also have to write a 500-1,000 word essay related to leadership or public policy.

3. British Council Women in STEM

Amount: Full payment of tuition fees

Entering its sixth year, the British Council Women in STEM scholarship works with UK universities to facilitate access to education for women from socioeconomically disadvantaged backgrounds.

The scholarship supports women with a STEM undergraduate degree who want to pursue a master’s degree in the UK. It includes tuition fees, a living stipend, travel and visa costs, health care fees, and English language support. Each scholarship is worth at least £40,000 (approx. US$53,000).

The program aims to empower women pursuing careers in STEM fields and drive gender equality in science and technology. To date, the program has partnered with 43 leading UK universities and awarded more than 500 scholarships.

4. Numerix Women in Finance Scholarship

Amount: US$20,000

Numerix, a provider of capital markets technology solutions, offers its Women in Finance Scholarship to empower the next generation of female finance leaders.

Numerix awards a US$20,000 scholarship to one graduate student pursuing a career in finance. Half of the award is paid directly to the institution, and the other half to the student. It is open to master’s or PhD students in finance-related programs with fewer than 10 years’ work experience (and fewer than five years in finance). Part-time study is not eligible.

The 2024 scholarship winner used the award to pursue a master’s degree in financial engineering at the University of California, Berkeley.

5. The 30% Club Scholarship

Amount: Up to 50 percent of tuition fees

The 30% Club is a business campaign aimed at increasing female representation at board and C-suite levels in some of the world’s largest companies. Members commit to achieving at least 30 percent women at the leadership level.

As part of this mission, the 30% Club partners with leading business schools to offer scholarships aimed at increasing the representation of women in management and leadership. Recipients can receive up to 50 percent of their tuition fees.

Business school partners providing master’s-level scholarships include ESMT Berlin and HEC Paris, which both offer a 30% Club Master in Management scholarship. Several other schools—including London Business School, Henley Business School, and Mujeres Empresarias—also offer 30% Club scholarships at the MBA and EMBA level.

Top master’s scholarships for women offered by business schools

6. Imperial Business School Women in Finance Scholarship

Amount: Up to £25,000 (US$33,000)

With a strong commitment to closing the gender gap in business, Imperial Business School offers generous scholarships for women across its master’s programs.

The Women in Finance Scholarship awards up to £25,000 to female candidates with exceptional academic backgrounds—typically a first-class honors degree or international equivalent. Applicants should also demonstrate strong leadership skills and professional achievement through internships or work experience.

All MSc applicants are automatically considered.

7. Bocconi University Women Awards

Amount: Full payment of first-year tuition fees (renewable for the second year)

Bocconi University in Italy aims to empower female leaders in the traditionally male-dominated fields of finance and economics. The Bocconi Women Award offers full payment of tuition fees for the first year for women applying to master’s programs, including Economics and Management, International Economics and Finance, Mathematical and Computing Sciences for Artificial Intelligence, and Economic and Social Sciences. The award is renewable for the second year, subject to meeting academic requirements.

The scholarship is awarded based on merit, so financial need is not a requirement.

8. Vlerick Business School

Amount: Up to 50 percent off tuition fees

Vlerick Business School offers three scholarships specifically for female master’s students: Women in Finance (Master in Financial Management), Women Entrepreneurs (Master in Innovation & Entrepreneurship), and Women in Analytics (Master in Business Analytics & AI).

To be considered, students must have an outstanding academic record, show leadership potential, and perform well in the school’s admissions test. Strong applicants can receive up to 50 percent off their tuition fees.

9. ESMT Berlin Women’s Scholarship

Amount: 10,000 euros / 6,000 euros (US$11,500 / US$6,900)

For women applying to do an ESMT Berlin master’s degree, there are several scholarship options available.

The Women’s Academic Excellence Scholarship offers four scholarships of up to 10,000 euros (US$11,500) to female candidates who have shown academic excellence in their bachelor’s studies. Applicants must complete a scholarship essay as part of their application.

ESMT Berlin also offers five Women in Innovation & Entrepreneurship Scholarships worth up to 6,000 euros (US$6,900) to Master in Innovation and Entrepreneurship applicants, and 10 scholarships worth up to 6,000 euros (US$6,900) for female candidates applying to the Master in Analytics & AI.