Research stipends are another way for undergraduate Business students to help finance their education. Unlike scholarships or loans, research stipends are generally not available to new students just applying to the school. Rather, these are monies you can apply for once you are in the program and are paid to support particular academic work.
There are different kinds of research project programs at business schools in the USA that award undergraduate research stipends.
Students helping with faculty research projects: Some research stipends are paid to students who apply to assist faculty members in their research projects. These students will spend a prescribed amount of time per semester on the project, which may also qualify for academic credit rather than a monetary stipend. These programs often include a specially designed research methodology course and the opportunity to present research at an academic conference. The program is well suited for those who wish to consider academic careers, graduate study, and/or work in the field of consulting.
Students conducting their own research projects: Another possibility for undergraduate research stipends are those awarded in a competitive process to fund students' personally-developed research projects. Application processes and requirements vary, but usually students must provide a brief description of their intended research project, a bibliography and the name of a faculty member/ research mentor. These programs often require students to present their research to a committee or at an academic conference.
Summer programs for undergraduate research: Summer research programs offering research stipends may also be available for both juniors and seniors in Business. These often include a specified number of hours per week, and the stipend may be given as a weekly amount or as a total for the summer program.
In all cases, undergraduate research stipends enable students to develop close mentoring relationships with Business school faculty. These stipends may be offered by the Business school or program department, or by a research center within the university.
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