It’s back to school season for some, but for others it’s time to get serious about business school applications as we look forward to 2022. If you are currently in the process of, or even simply thinking about applying to business school, you will want to carefully weigh the pros and cons of applying during different rounds. If you’re unsure of which round to apply in, you will want to consider how each round impacts your chances of acceptance.
Each round has its own advantages - but ultimately, it comes down to how prepared you are. Rushing your application is the last thing you want to do. If you’ve been thinking about business school for some time, and have the majority of your application buttoned up and ready to go (solid GMAT scores, application components have been prepped, essays and letters of recommendations revised numerous times) - then round 1 may be best for you.
If you’re still in the earlier stages of applying, and either need additional edits to your application or are hoping to visit your top choice schools, you may want to consider round 2. However, keep in mind there is no set criteria or checklist for applying in different rounds, and no standardized acceptance rate throughout the admissions process. Some important factors to keep in mind when preparing your application and looking to maximize your acceptance potential include:
The strength of your GMAT score - if you feel confident in the score you’ve achieved, and can now dedicate your remaining time and energy to the rest of your application
How much time you have on hand at work to focus on the other application components, and potentially visiting your target schools
The level of competitiveness of your target programs
Potential for big changes (promotion, completion of a big project, or another factor that could improve your chances for admission) in your career
Your unique profile - how many other candidates or your profession, background, and interests have applied or already been accepted? Keep in mind, admissions counselors are looking for diversity in background and thinking in your experience. If you come from a highly competitive or popular profession, it is typically advantageous to apply in earlier rounds.
Reasons to submit your application in Round 1 -
As mentioned above, if you feel highly prepared and your application is ready to be submitted, you will want to apply to your target MBA programs as soon as possible. This offers the best opportunities for being admitted to your target program, because no one has been admitted yet and you are going up against a fresh slate of candidates. Especially if you come from an overrepresented background for business school (examples: consulting, investment banking, tech), it is preferable to apply sooner rather than later.
Reasons to submit your application in Round 2 -
If you need more time to significantly improve your application, do not rush the admissions process. It is ideal in this case to apply in Round 2 if you are looking to improve your GMAT score or other components of your application.
Applying in Round 2 also gives you more time to visit and research your target programs, improve your essays, and include an upcoming promotion at work.
Reasons to submit your application in Round 3 -
If you are confident in your decision to go to business school but missed the application deadlines for Rounds 1 and 2, you can still consider Round 3. Although Round 3 tends to be more oriented around filling out class sizes to round out the diversity, if your application is strong and you are casting a wide net across programs, there is still a chance for admission. If you have more flexibility in your timeline, you can also reapply for Round 1 the following year - and most of your application will already be complete!
An important thing to keep in mind is, acceptance rates tend to be higher in the earlier rounds. This is where preparation and a tightly thought through application is key - if you’re thinking about business school and want to maximize your admissions chances, sign up for a free consultation today.