Which are the top business master's scholarships for women?

TL;DR

• Several leading business schools and global organizations offer top business master’s scholarships designed to support women and advance gender equality in the business world
  
• Scholarships for women are available across regions, including the US, UK, and Europe, as well as at specific b-schools such as ESMT Berlin, Vlerick Business School, HEC Paris, and Imperial Business School
  
• Awards range from partial to full-tuition waivers, with many also offering additional financial and professional support

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 in roles at every level. Women are less likely to be hired into entry-level roles, claiming 47% of these positions compared to 51% going to men.

The report also found that women were far less likely than men to attain their first promotion to manager level. For every 100 men who received a managerial promotion, 81 women were promoted. Women of color fared even worse, representing only 7% of current C-suite positions.

Recognising 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
Amount: $20,000

Launched way back in 1888, 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 US.

The International Fellowship for master’s degrees provides support to female international applicants who want to pursue postgraduate studies in the US. 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 $20,000 for their master’s degree, disbursed in two equal payments at the beginning and midpoint of the fellowship term.

2. Educational Foundation for Women in Accounting
Amount: $1,500 + additional types of financial support

The Educational Foundation for Women in Accounting (EFWA) offers two scholarships aimed at women pursuing a master’s degree in business with a concentration in accounting. The EFWA Graduate Scholarship provides one year of support totalling up to $1,500.

The IMA Graduate Scholarship is also a one-year scholarship for $1,500. Recipients receive a complimentary one-year IMA student membership valued at $39. Their CMA exam entrance fee ($250) and exam registration fee ($415) are also covered.

For both scholarships, the applicant must be attending an AACSB-accredited university and be a US citizen. The IMA Graduate Scholarship also requires applicants to be the primary source of financial support for their family.

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, healthcare fees, and English language support. Each scholarship is worth at least £40,000 (approx. $52,000).

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 493 scholarships.

4. Numerix Women in Finance Scholarship
Amount: $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 $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 of work experience. 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% tuition fee payment

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% 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% of their tuition fees.

Business school partners offering master’s-level scholarships include ESMT Berlin, which offers a 30% Club Master in Management scholarship, and HEC Paris, which offers the same for its Master in Management program. Several 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: £25,000 ($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 honours 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

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

8. Vlerick Business School
Amount: up to 50% of 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% of their tuition fees.

9. ESMT Berlin Women’s Scholarship
Amount: €10,000 / €6,000 ($11,500/ $6,900)

For women applying to ESMT Berlin's master’s degrees, there are several scholarship options available.

The Women’s Academic Excellence Scholarship offers four scholarships of up to €10,000 ($11,500) to female candidates who have shown strong academic potential during 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 €6,000 ($6,900) to Master's in Entrepreneurship applicants, and 10 scholarships worth €6,000 ($6,900) for female candidates applying to the Master's in Analytics & AI.