But progress has been slow in promoting women into leadership positions. And most business schools have so far failed to achieve gender parity, too.
Schools are, however, responding to this imbalance by offering scholarships to female candidates, in a bid to make it more appealing for them to obtain an MBA. They are also partnering with corporations and organizations which offer scholarship funding, such as Forté Foundation.
Experts have argued this will help to increase the number of women in boardrooms.
Below, BusinessBecause has compiled a list of some of the best MBA scholarships offered to women by business schools.
AUSTRALIAN GRADUATE SCHOOL OF MANAGEMENT (AGSM):
AGSM Director's Women In Leadership Scholarship
Open to every female MBA candidate, this scholarship is designed for emerging leaders who want to complete their business education while working to overcome the low representation of women at the top.
Students can apply directly through AGSM, for a full tuition fee waiver.
AGSM Emerging Female Leaders Scholarship
This scholarship aims to contribute towards the development of future female business leaders, and support female MBAs in emerging leadership roles. The award is of $25,000.
Cass Business School Women's Scholarship
UK based Cass offers a scholarship of up to 30% of the total tuition cost of the full-time MBA program (£39,500) to female candidates who demonstrate outstanding achievement.
China Europe International Business School (CEIBS) Women Leadership Scholarship
CEIBS of Shanghai offers first-year MBA students one-two scholarships each year, which are awarded based on academic and professional achievement, and potential contribution to the MBA program.
Every female candidate will be automatically considered. The award is approximately $33,000.
Durham University Business School Scholarship For Women
In order to encourage more women to join its Online MBA, UK based Durham offers a £2,500 scholarship to female candidates.
Women from all nationalities and backgrounds can apply.
EMLYON Business School Diversity Scholarship
Female candidates are eligible to apply for EMLYON’s Diversity Scholarship, which awards between 10% and 60% of the French school’s program fee.
ESADE Women Of The World Scholarship
The Spanish business school’s scholarship aims to support female MBA candidates with significant international exposure and unique intercultural perspectives.
It is open to candidates of all nationalities and backgrounds.
If you are a woman pursuing a full-time, part-time or executive MBA in one of the participating schools and can demonstrate great leadership skills, you can be considered for a fellowship.
Students will benefit not only financially, but from the immediate exposure to leading companies in the Forté network.
The program was created to help increase the number of women pursuing MBAs.
Grenoble École de Management: MBA Outstanding Professional Woman
Women that can demonstrate professional and academic achievements, and who have had diverse experiences in their positions, can apply for this scholarship for the chance of being awarded €4,000.
The L'Oréal Scholarship is aimed at outstanding candidates who have been admitted to the HEC MBA and can demonstrate significant professional accomplishments and leadership potential.
Applicants are required to submit a 1,500-word essay discussing the style of leadership they think maximizes creativity and innovation for the chance to be awarded the €10,000 scholarship.
This scholarship is available to women from Asian or African countries affected by natural disasters, drought or famine, who can demonstrate a commitment to solving some of the social and economic issues affecting their countries.
The award is €20,000.
Hult Women In Business Scholarship
Hult International Business School offers a scholarship to female applicants who have at least two years of experience in an international company, and who want to succeed in a leadership position.
IE Business School Scholarship for Women
Female candidates who wish to study the full-time MBA can apply for the €22,000 scholarship at IE in Spain.
IESE Business School's scholarship aims to support women who demonstrate amazing accomplishment. The Spanish school is committed to helping increase the number of women in leadership positions.
Imperial College Business School: Inspiring Women-Executive MBA Scholarships
Women who can demonstrate academic excellence and high leadership potential are eligible to apply for UK school’s scholarship.
Successful applicants will be awarded £20,000, and support from the 30% Club, including a cross-company mentoring scheme and exclusive event invitations.
INSEAD Alumni Fund Women's Scholarship
INSEAD offers a scholarship to women from all backgrounds who are making great achievements in their profession, of up to €15,000.
INSEAD Helmut Meier Scholarship For Women From Central And Eastern Europe
Women that are nationals of Bulgaria, the Czech Republic, Estonia, Latvia, Lithuania, Hungary, Poland, Slovakia, Slovenia, Austria, Germany, Romania, and Ukraine, are eligible to apply for this €13,000 scholarship.
Candidates must have studied in their country of nationality and must have gained work experience there.
INSEAD Judith Connelly Delouvrier Endowed Scholarship
All female candidates that have been admitted to the MBA program are eligible to apply for this scholarship of up to $15,000 (€13,500).
INSEAD Mette Roed Heyerdahl Memorial Scholarship
Women from Palestine and other countries in the Middle East (including Turkey), or Uganda or Nepal, who want to pursue a career in their home nation can apply for this scholarship of up to €12,000.
Ivey TD Bank Financial Group Women In Management Award
Female candidates that can demonstrate academic achievement, financial need and involvement in their community can apply for the $40,000 scholarship at Ivey, the Canadian business school.
Melbourne Business School: The Helen MacPherson Smith Fellowship
Successful female MBA candidates from Victoria only will be considered for the fellowship based on the potential to reach senior levels in management, or to create and run their own business.
The award is of up to AU$24,000.
MIP Politecnico di Milano: MIP 4 Women Competition
To encourage female participation in its MBA, Italy’s MIP provides every female candidate who meets its admissions requirements the opportunity to participate to the MIP 4 Women competition.
The prizes are: First place — grant of €10,000; second place — grant of €7,000; third place — grant €5,000.
Sauder Women In Business Scholarships
Female candidates are eligible to apply for the Sauder School of Business scholarship. The amount of the funding is between $10,000 and $40,000.