Today we host part 3 of a 3-part series that distills the best military-to-business transition resources into one comprehensive guide. The author of this piece is an HBS admit who prefers to remain anonymous. His insights are invaluable for those looking to transition out of the military into a business related occupation!
Leveraging MBA Application and Scholarship Programs
For those who are considering transitioning or have already decided to transition, but are unsure of which industry or function to enter, these articles will help. They build upon the “Military Career Path Decisions” series by aggregating information about programs that will allow you to better understand different industries and business functions.
For those who have already decided to transition to business, but will do so via an MBA, these articles will also assist with your process. Information about mentorship and company or sector exposure can help you craft your narrative and focus your efforts during school. They also build upon the “Transitioning to a Top Tier MBA” series by explaining the various support and scholarship opportunities available to aspiring MBAs.
This series focuses on understanding and exploring the corporate world, and does not specifically cover entrepreneurship. However, you can leverage some of the resources contained in this guide to help with entrepreneurial endeavors.
- Getting Started: Mentorship
- Why Mentorship?
- What Is American Corporate Partners (ACP)?
- How Does ACP Work?
- What Can You Discuss During Calls?
- Who Is Eligible To Participate?
- How Do I Get The Most Out Of The Mentorship Experience?
- Where Should I Begin With The Resume And Cover Letter Review?
- Gaining Exposure: Company and Sector Programs, Military Hiring Pipelines
- Other Resources
- Leveraging MBA Application and Scholarship Programs:
- Veteran-Specific Programs
- Other Programs
If you’ve decided to pursue an MBA, there are several veteran-specific scholarship programs and networking opportunities that can allow you to take full advantage of the experience.
While everyone wants scholarships, the benefits of networking opportunities are more nebulous. So why do you want networking opportunities?
More connections means more opportunities, and there are a few key areas:
- Expand your network across schools: you can leverage your connections’ alumni networks and vice versa.
- Expand your network across geographic regions: you’ll have people to connect with across the world.
- Expand your network across industries: you’ll have access to more leaders in more industries.
Additionally, these foundations provide opportunities to volunteer in some capacity, so you can give back to initiatives that you’re passionate about.
Note: Scholarships and programs are listed in alphabetical order. Also, this list is not comprehensive. Once you are admitted to an MBA program, reach out to the Veterans Club to see if they keep a list of scholarships.
These programs are available to all veterans of the US Armed Forces and can provide significant benefit to its participants.
LunaCap Foundation – Post-Admission Scholarship / Networking
LunaCap’s mission is “to help active duty military, veterans, and/or students of Mexican descent achieve their fullest potential by providing scholarships to MBA Candidates at top-tier programs.”
LunaCap helps by providing scholarships and networking opportunities for its scholars and fellows. Applications open in March 2021 and are for the MBA class of 2023; only select schools are eligible. You can learn more here.
Pat Tillman Foundation – Post-Admission Scholarship / Networking
The Pat Tillman Foundation provides scholarships, networking opportunities, and career support to its members. Highly competitive, only 3% of applicants are admitted.
Tillman scholarships are not limited to a certain degree field or degree type; instead they range across schools and disciplines. The application is lengthy, with multiple essays and a letter of recommendation required; the application will open in early 2021. If you are not admitted the first time you apply, you can reapply. You can learn more about the Pat Tillman Foundation here.
Service to School – Pre-Admission Application Assistance
Service to School provides incredible support to MBA applicants. Most notably, the mentorship available to applicants is particularly useful. You can read more about how S2S can help you at our blog post here.
These programs are ongoing initiatives to increase diversity in leadership and management; some of our readers may be eligible to take part in these programs and networks.
Consortium – Pre-Admission Application Assistance and Post-Admission Scholarships / Networking
Consortium is a prominent and well-established foundation, consisting of “an alliance of 18 top graduate MBA programs, approximately 75 corporate partners, over 800 students and a robust network of more than 8,500 alumni.” Consortium’s mission is to “reduce the underrepresentation of African Americans, Hispanic Americans and Native Americans in American business and graduate business schools.”
Consortium’s value proposition for students (and partner schools / organizations) is high. Consortium’s vast network spans across the corporate America, nonprofits, the government, and entrepreneurial ventures, so members are granted access to a wide range of industries and functions.
Applications are currently closed, but should open soon. Check out Consortium’s site here for more information.
Forté Foundation – Pre-Admission Application Assistance and Post-Admission Career Support / Networking
Forté Foundation’s mission is to “launch women into fulfilling, significant careers through access to business education, professional development, and a community of successful women.”
One way that the Forté Foundation does this is by running MBALaunch, a program designed to help MBA applicants with the admissions process. Some of the benefits of this program include GMAT testing help, application material assistance, and interview preparation. Furthermore, participants have access to a network of advisers and peers for support.
Applications open on September 10th, 2020 and are for applicants applying in 2021 for admission in 2022. Find out more about MBALaunch here.
Toigo Foundation – Post-Admission Career Support / Networking
Toigo’s stated mission is to “transform the performance of forward-thinking organizations through education and strategies that drive greater inclusion and the ongoing development and promotion of exceptional diverse leaders.”
One way that Toigo achieves its mission is through its MBA program, which is focused on assisting members enter the Finance industry. The program provides two years of comprehensive career support during the MBA (or JD/MBA) process and the foundation partners with numerous companies in the Finance industry. Learn more about the program here.
We hope this series helped with your transition! Please feel free to subscribe below!