Ticktock, ticktock, ticktock. With almost exactly one month to go until the Round 1 deadlines for business school applications, many of you might be thinking, “Am I ready to apply? Will I be able to hit those deadlines?”
For some, the answer might be obvious, varying from “Of course I’m ready! My applications have been done for a month!” to “Oh yeah, my business school applications—I should probably think about getting started on those.” For most, though, the answer is probably murkier.
Here are a few things to consider as you try to decide whether to submit your MBA application(s) in Round 1 or Round 2.
First, have you taken all the foundational steps that are necessary for your application to even be considered, including taking the required standardized tests? If you have taken the GRE or GMAT (or, for some programs, the EA), the key question is whether your score is high enough to get you accepted at your target school. Although you can never predict this for sure, the first step in figuring this out is checking what the average GMAT/GRE (or EA) scores are for your desired programs. Are you above or below the average? If you are below, by how much?
Admittedly, your exam score is just one factor the admissions committee will consider in its assessment of your candidacy. However, if your score is substantially below average, this will make your target school more of a reach. You will need to compensate for it in some way, such as by demonstrating your academic abilities in another context. For example, you could highlight your high GPA as an undergrad, the A grades you earned in quantitative courses, and/or quantitative examples from your career.
Although some schools grant test waivers, that is neither an automatic nor a short process. And at this point, if you were to be granted a test waiver, you might not get it in time for you to apply in Round 1. So, if you are not able to secure a test waiver and have not achieved the exam score you want, you might need to delay your submission to Round 2.
On the other hand, if your test scores are where you want them to be, what else do you need to consider as the MBA deadlines draw closer?
How strong are your essays? These days, Harvard Business School can fill its class three times over with candidates of the same high caliber, so differentiating yourself from other applicants is absolutely critical. Recognize that there will always be an applicant who has something in their profile that is just a little better than yours. For example, you work at consulting firm B, while they work at consulting firm A. Your GPA is 3.7, while theirs is 3.8. You scored 720 on the GMAT, while they got a 730. Therefore, the most effective way to distinguish yourself is through your essays. They must be unique and authentic to you. When the admissions committee reads them, they need to come away feeling that they have really gotten to know you.
For personal statement (or career goal) essays in particular, you must clearly answer the three “whys” that the schools want to learn: (1) Why do you need an MBA? (2) Why now? And (3) why do you need one from their program in particular? Frequently, that last “why” is where many applications end up lacking. Every school thinks it is different from every other school. Do your essays demonstrate that you are aware of and appreciate these differences? Can you articulate why you want to attend one program over another one? If your essays convey these crucial messages and information, then you can check that box. If not, they probably need more work.
You also need to develop a strong resume for your applications. Your MBA resume is like a “highlights reel” of what you have done in your career thus far. The focus is on the professional section, in which you show your progression and highlight key accomplishments that demonstrate your strengths and experiences. MBA programs are also interested in how you have shown leadership outside of work, so the admissions committees will be looking for evidence of leadership in your college activities, as well as more recent examples, including ones with organizations outside of your workplace, such as nonprofits and associations. Make sure that you are hitting on all the levels of who you are and what you have done so that a quick read of your resume leaves the admissions team with a good sense of both—but also wanting to learn more.
What about each application’s short-answer questions? Consider this example from the Yale School of Management:
How did you arrive at these career interests? How have you or how will you position yourself to pursue them? (250 words maximum)
You will encounter many gems like this one when you start completing your online applications. You will need to fill in information about your extracurricular activities, your career path, your most significant volunteer commitments, and numerous other elements of your candidacy. And crafting these answers takes time. This is not something you can rush through 15 minutes before the deadline. With that in mind, have you left yourself sufficient time to respond to these questions effectively?
Another part of the MBA admissions process that can delay an application is recommendations. You still have plenty of time for your recommender to write you a recommendation, but do you have enough time for them to write a great recommendation, a recommendation that you could have some input into (but not too much), a recommendation that is polished and shows a real commitment to you and your MBA goals? That might be harder to guarantee. And another dimension could also come into play: do you really want to press your boss to write a recommendation for you over their vacation because you failed to get your act together in time? Only you can decide.
In the end, the question becomes when should you shift your focus to Round 2 rather than pushing to apply in Round 1?
First, let us provide some background. At practically every business school, the acceptance rate for Round 1 is higher than for Round 2—that is just a fact. However, what is equally true is that a great application will beat a good application every time, regardless of the round in which it is submitted.
So, now is the time to ask yourself very openly and honestly, “Have I created my strongest application? Have I achieved my highest possible GMAT/GRE score, leaving no points on the table? Are my recommenders excited for me? Have I taken every part of the online application seriously, even the smallest questions? Are my essays great? (Not good, but great!) Do they reflect who I really am?” If your answer to each of these questions is yes, then go ahead and hit that submit button. If not, you should probably hold off. This is when I generally tell my clients to give themselves a break, and I encourage you to do the same. Take the time you need to create the application you want, whether you ultimately submit it in Round 1 or Round 2.
One caveat is for candidates applying from highly represented groups, such as consultants and bankers. MBA programs want a mix of students from different industries, functions, and backgrounds in their classes. Many candidates from overly represented groups choose to apply in Round 1. And since many of these applicants are then accepted in Round 1, applying in Round 2 becomes much more competitive for candidates from those groups. Again, our point is that you want to submit your strongest possible application, but if you are a candidate from a highly represented group, you might need to make some tough decisions about the trade-offs of applying in Round 1 rather than waiting until Round 2, when you will have a stronger application. Otherwise, plan do everything you can to submit your strongest application in Round 1.
Unsure whether you should apply in Round 1 or wait till later? Start getting answers to this and all your other application-related questions by scheduling a free 30-minute consultation with an expert from mbaMission’s consultant team.
