Studying abroad would definitely cost one more than studying in their own country. While one always researches funding options, scholarships are one the most important added supports of funding or financial aid can make the difference to keeping your study abroad dreams come true.
According to Numbeo, cost of living in New Zealand is 3.19% higher than in the USA and it can be around 71,449 INR for a single person. the average fees of an MBA in New Zealand can range from 27 lakhs-32 lakhs per year. MBA scholarships in New Zealand in such cases would definitely be an option to reduce the overall investment.
New Zealand comes in the top 10 countries that offer the best education quality. This indicates the level of competency one has to face for getting enrolled in an MBA in New Zealand and get a scholarship or financial aid.
Types of Scholarships in New Zealand
There are a number of scholarships you can find while searching for MBA scholarships in New Zealand. However, the type of it differs. One must have a good understanding of the same to get grip on the factors involved in availing it.
These are the generic types of scholarships:
- New Zealand Government
- Other Governments
- Institutions
- Community Services
- Philanthropists
But, even the Government of New Zealand offers various types of scholarships. These can be availed by registering on their official portal.
The type of Scholarships offered by the Government of New Zealand are:
- New Zealand Pacific Scholarships
- New Zealand ASEAN Scholar Awards
- Short Term Training Scholarships
- New Zealand Regional Development Scholarships
- New Zealand Development Scholarships
- Commonwealth Scholarships
Other scholarships mentioned are available for programs other than MBA, one can read scholarships in New Zealand if planning to study in New Zealand for other courses.
Top B Schools in New Zealand
An MBA in New Zealand costs much lower than that compared to the USA and UK. Hence, attending B Schools in New Zealand is highly profitable at the same time, it can be made affordable via multiple funding sources.
| University | Program Fee (INR) |
|---|---|
| University of Otago | 32.12 lakhs |
| Auckland University of Technology | 27.23 lakhs |
| University of Canterbury | 27.61 lakhs |
| University of Waikato | 30.16 lakhs |
| Massey University | 24.85 lakhs |
| Auckland Institute of Studies | 17.11 lakhs |
Even though MBA Universities in New Zealand are cheaper than in the USA and the UK, these universities offer scholarships for you to lower your investment.
MBA Scholarships by Top B Schools in New Zealand
Some of the top MBA Scholarships offered by Top B-schools in New Zealand are tabulated below.
| Scholarship | Offered By | Grant (NZD) |
|---|---|---|
| International Student Excellence Scholarship | University of Auckland | 10,000 (Bi-Annually) |
| Coursework Master's Scholarship | University of Otago | 10,000 |
| International Academic Achievement Scholarship | Auckland University of Technology | 20,000 |
| MBA awards | Massey University | Up to 6,000 |
| International Excellence Scholarship | University of Waikato | 20,000 |
| Alison MacGibbon Fund | University of Canterbury | 300 |
| New Zealand Excellence Awards | Education New Zealand | 5,000 |
| WelTec Excellence Awards | Whitireia New Zealand & WeITec | up to 5,000 |
International Student Excellence Scholarship
The University of Auckland offers excellent scholarships for all post-graduate or pg dip. Courses of over 120 credit points.
Eligibility: International Students who have received an unconditional offer for the program
Application deadline: 21 November 2022 (Semester One intake) and 20 April 2022 (Semester Two intake)
Number of scholarships: 50(including UG Students)
Amount granted: up to NZD 10,000
Duration: bi-annually for a year
Coursework Master's Scholarships
International students with high grades in their previous academic studies (minimum A grades), and a high score in the GMAT, are most likely to avail this scholarship. Selection is based predominantly on academic merit and the advice, recommendation, and ranking of the relevant Head of Department or nominee.
Eligibility: Successful applicants for the Otago Business School
Application Deadline: 1 June 2022
Number of scholarships: Variable
Amount granted: NZD 10,000
Duration: A year
International Academic Achievement Scholarship
Hosted with an intention of recognizing, appreciating and supporting the international students, this scholarship by AUT is one of the top targets. The decisions are made by AUT International representatives and are excessively based on demonstrated academic excellence, the strength of personal statement, and letter of reference.
Eligibility: International Students
Application Deadline: Currently Open
Number of scholarships: 5
Amount granted: 20,000 contribution to fees
Duration: A year
MBA Awards
Popular for its fraternity in MBA program, Massey University offers a limited number of MBA awards for international students to support their studies.
The structure to award the MBA students are:
- 2,000 NZD for those with an undergraduate degree with an A- average
- 2,000 nzd for those with five or more years relevant work experience (full-time)
- 2,000 NZD for those with a master's degree with a B- average, in addition to qualifying for an undergraduate degree
Eligibility: International Students who have received an unconditional offer for the program from Massey University
Application Deadline: 31 December 2022
Number of scholarships: Undeclared/Varies
Amount granted: Up to 6,000 NZD
Duration: One time
International Excellence Scholarship
This Scholarship by University of Waikato is intended to support talented and high in academic performance international students, who are enrolling for the first time into postgraduate programmes at the University of Waikato. This is also available to undergraduate students.
Eligibility: International Students who have received an unconditional offer for the program
Application Deadline: Applications for 2022 and 2023 can be submitted at any time
Number of scholarships: Variable
Amount granted: Up to NZD 10,000
Duration: One time
However, currently this scholarship is unavailable to students pursuing their studies online. But all the international students pursuing their studies online will have a 20% discount on their tuition fees in 2021 and will receive a travel grant once they transfer to New Zealand for offline mode of studies once the borders reopen.
Alison MacGibbon Fund
Awarded in University of Canterbury, this scholarship is available each year to students commencing their studies who may not normally be able to do so due to financial hardship. This can be called a need-based scholarship.
Eligibility: International Students depicting financial hardships
Application Deadline: 31 March 2022
Number of scholarships: 50(including UG Students)
Amount granted: NZD 300
Duration: Undeclared
Other MBA Scholarships in New Zealand
Apart from the government and universities, there are institutions that offer scholarships, bursaries, and aid to international students. When the cost of living in New Zealand is 293% higher than in India, these scholarships can be of a great addition to your list for reducing the cost.
GOPIO West Auckland Scholarship
GOPIO with Auckland Institute of Studies is offering a limited number of scholarships to applicants from Indian origin. This is available to applicants who are pursuing MBA/PGDBA programs.
Eligibility: Students of Indian origin
Application Deadline: Undeclared
Number of scholarships: 2
Amount granted: NZD 500
Duration: One time
New Zealand Excellence Awards
Funded by New Zealand universities and Education New Zealand, this scholarship offers an opportunity to experience excellent educational programs in New Zealand.
Eligibility: International Students holding current citizenship in India
Application Deadline: Undeclared
Number of scholarships: 31 (including UG Students)
Amount granted: NZD 5,000
Duration: One time
However, this scholarship is currently on hold due to COVID-19 pandemic. It is expected to resume in early 2022.
Selection Process for MBA Scholarships in New Zealand
The selection procedure for students living in New Zealand is different and would involve a few steps in offline mode. However, due to the pandemic situation and for far away students, the basic steps in online mode are as follows:
- Screening: Verification, judgment, and analysis of the submitted documents
- Feedback: Students receive updates on their scholarship application
- Psychological/Mathematical Tests: The students have to go through abstract reasoning, logical, mathematical, and personality tests
- Interview: The students are asked to attend one or more interviews (mostly online). This is basically done to assess and judge one’s personality, intelligence, and potential to excel
Apart from these, applicants with work experience are given high preferences in awarding a scholarship. As already mentioned in a few scholarships, there are heavy grants offered to ones who have been into business for over 2 years. So, one aiming to avail scholarships for an MBA program in New Zealand having work experience would prove highly profitable.
Average salary of an MBA graduate in New Zealand is approximately NZD 148,582. And as already stated in our article cheapest universities in New Zealand, it is cheaper in terms of tuition fee for MBA programs when compared to the USA and UK. Hence, you can conclude that with MBA programs being cheaper, the average salary is decent and a pool of MBA scholarships in New Zealand; this makes a good choice for one to pursue the same.
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