15 Top MBA Scholarships For European Business School Students

Are you applying to European business schools for your MBA? You’ll first need to take the GMAT Exam to get accepted. Then, you’ll need to find the funds to finance your MBA.

While MBA programs cost less in Europe than in the US, going to business school is still a significant investment. According to our BusinessBecause Cost of MBA Report 2024, the average total cost of a top-ranked full-time MBA in Europe is around $140,130, with tuition fees making up a significant portion.

Fortunately, business schools offer MBA scholarships based on your GMAT score. If you score well on the GMAT, you can qualify for a percentage off your tuition fees—often up to 50% off your tuition.

These MBA scholarships make an MBA in Europe more affordable and mean you’ll get a quicker return on your investment. So which European business schools offer GMAT scholarships for MBA students?

Here’s 15 top MBA scholarships for European business school students:

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1. Alba Graduate Business School, The American College of Greece

Candidates with GMAT score equal or over 700 (which equates to 645 and above under the updated GMAT scoring system) will be granted a partial scholarship of 40% of the total MBA tuition fees. Candidates with a high GMAT below 645 are also eligible for smaller scholarships.

2. Alliance Manchester Business School

Everyone with a GMAT score of over 600 (equivalent to 555 and above) is considered for a merit-based scholarship awarded to the most outstanding MBA applicants identified during the admissions process.

3. Amsterdam Business School

The GMAT scholarship for the Amsterdam MBA is eligible for scores above 650 and provides up to €12,000 for the highest scores. This translates to 605 and above in the current GMAT exam. The GMAT scholarship is available for all Amsterdam MBA candidates.

4. City University, Bayes Business School

The Academic Distinction Scholarship awards reduced tuition fees and is open to candidates who have achieved a high, well-balanced GMAT score and can demonstrate outstanding academic achievement.

5. EDHEC Business School

EDHEC Business School offers a variety of scholarships based on GMAT score results, academic excellence, and distinction. Applicants with an outstanding GMAT score, an excellent GPA, or impressive experience and extracurricular activities can have their tuition fees automatically reduced by 20 to 40%.

Read: GMAT Score Range For Top Business Schools Like Stanford & Harvard

Stanford Graduate School of Business © iStock / Michael Vi

6. ESMT Berlin

Applicants who submit successful GMAT or GRE scores will be considered for scholarships to acknowledge their success. Applicants with a GMAT or GRE at the 85th percentile or higher—equivalent to 645 or higher in the latest edition of the GMAT—can get €3,000 in scholarship funds.

7. Frankfurt School of Finance & Management

MBA scholarships at Frankfurt cover up to 30% of tuition for the respective program. Selection criteria include the candidates’ academic results, admission test/GMAT results, application quality, personal achievements and needs. This includes extracurricular activities, social commitment, intercultural skills, international experience, professional experience.

8. HEC Paris Business School

All HEC Paris MBA admitted candidates can apply for merit-based scholarships. Applicants can receive scholarships worth up to 50% of the HEC Paris MBA’s tuition fees. The final decision is based on academic excellence, the overall strength of the application, the results of the selection interviews and the candidate’s GMAT score.

9. IÉSEG School of Management

IESEG’s GMAT scholarships available offer a €1,000 tuition reduction for admitted applicants with a GMAT score between 650 and 680 (605-635 under the new scoring), and €1,500 tuition reduction for admitted applicants with a GMAT score of 690 or higher (equivalent to 645).

10. Imperial College Business School

A range of scholarships are available at Imperial, including the Engineering Sainsbury Management Fellows Scholarship, which provides £50,000 to engineering or technology graduates with a GMAT score of 650 or higher. In the current GMAT, this translates to 605 and above. Self-funded candidates with strong GMAT/GRE scores and demonstrated financial need can apply for the Advisory Board Scholarship, which covers full tuition.

11. Cambridge Judge Business School

The Cambridge Judge Dean’s Scholarship for Outstanding Academic Achievement offers a tuition reduction of £15,000 for candidates with exceptional academic records. Applicants are evaluated based on GMAT/GRE scores and undergraduate performance.

12. University College Dublin (UCD) Michael Smurfit School of Business

Merit-based MBA scholarships cover up to the full tuition fees for either the Full-Time or Modular Executive MBA—one of the most generous MBA scholarships in Europe. 

A GMAT score of 750 or above (equivalent to 705 or above) is required. The MBA GMAT Scholarships will be awarded to academically exceptional students who will be ambassadors for the UCD Smurfit MBA and the School during their studies and after graduation. 

13. ESSEC Business School

MBA candidates with outstanding academic achievements and strong career progression can land a High Potential scholarship at ESSEC. The scholarship amount awarded differs according to academic performance and test scores in the GMAT, GRE or EA.

14. Vlerick Business School

Vlerick’s academic scholarship is for candidates with a strong academic record and a GMAT score of over 680 (equivalent to 625 and above). Indian residents with a GMAT score above 650 (605 or above in the current GMAT) can apply for the EU Indian scholarship.

15. SDA Bocconi School of Management

SDA Bocconi offers grants covering up to 60% of tuition for candidates with a GMAT score of 670 or higher (615 or higher in the latest scoring system). Full tuition waivers are available for those with a GMAT score of at least 700 (655 and above). Awards are based on academic excellence and early application is encouraged.

This article was updated in October 2024.

For insider tips on maximizing your MBA scholarship chances, download our BusinessBecause MBA Scholarships Guide 2024 | How To Maximize Your Chances Of Success