You’ve already completed the GMAT and TOEFL examinations, conducted countless hours of MBA program research and finally selected your school list. Great! Now it is time to quickly write your essays and submit the applications before the Round 1 deadlines. But wait, hold on, should you apply in the Early Decision/Action Round or in Round 1? What is the Early Decision Round anyway?
Some schools (like Duke, Columbia and the University of North Carolina) use the Early Decision Round to attract candidates that are the best “fit” for their program and to help them improve their application yield. The yield is calculated by the number of applicants who are admitted, accept the offer and matriculate into the program – which is a critical component of the MBA rankings game. The Early Decision Round helps schools target the most enthusiastic candidates that are most likely to accept their offer of admission. These schools admit a large number of Early Decision Round applicants and then force them to quickly make a final decision by setting a hefty tuition deposit deadline just a few weeks after the admission offer is sent out. Sounds reasonable – but is it right for you? Making the decision to apply during the Early Decision Round should depend on whether you are 100% sure you will attend that program if you are accepted.
Applicants that are 100% sure. Applicants who are absolutely certain that they will matriculate into a school if accepted should jump at the chance to apply during the Early Decision Round. The Early Decision Round greatly benefits applicants that can create solid application materials as it will give them a greater chance of acceptance into their dream school; and obtaining an early acceptance will eliminate the months of stress and anxiety that often arises during the application process and frees them to pursue other interests. The Early Decision Round allows the school lock-down large numbers of talented applicants that really, really like their program before they can be enticed by other top schools. It’s a win-win for everyone!
Applicants that are not 100% sure. However, if it is not your dream school we strongly recommend that applicants apply in Round 1 instead of the Early Decision Round. This is primarily because admitted Early Decision applicants will be required to submit a deposit long before they receive their other Round 1 application results. Applicants are often put in the very awkward position of having to decide whether to hand over a large non-refundable deposit to their back-up school in order to mitigate the risk of rejection by their dream school. That is an expensive proposition, and one that most applicants are best to avoid.