Are you having trouble deciding whether to submit Round 3 MBA applications or just wait until next year? Regardless of whether you unsuccessfully applied in Rounds 1 and 2, it took longer than expected to get the GMAT or TOEFL score you wanted, or you suddenly decided to get an MBA – you should think carefully before rushing to submit those Round 3 applications. Here are some insights and things to consider for those of you who are uncertain about applying in Round 3:
Situations when it is probably better NOT to apply in Round 3
– You are a strong candidate with a legitimate chance of getting into a top MBA program.
The fact is that for top MBA programs, the chances of being admitted in Round 3 are much lower – there are far fewer spaces left at this late stage, and competition is still tough, even for applicants with stellar resumes.
Perhaps you are supremely confident and believe that your outstanding credentials will earn you an interview and acceptance, and if not, you will just apply again in Round 1 next year. This is where you need to slow down and think carefully. If you apply in Round 3 (and fail), and then apply again to the same school in Round 1 of the following application cycle, you become a reapplicant. As a reapplicant you will face the challenge of convincing the admissions committee that you are a notably stronger candidate than you were in your previous application. Such improvement can be demonstrated by a higher GMAT score, a promotion or increased responsibility at work, another important professional achievement, or some great international experience.
The real challenge in this situation is time. Round 3 this year and the next Round 1 deadline could be as few as six months apart – a rather short amount of time in which to significantly enhance your profile. By using up your best stories and content in your Round 3 essays, and then applying again as a reapplicant the following year, you may have made your path to gaining acceptance much harder than if you would have just waited and applied as a Round 1 applicant.
– You unsuccessfully applied to many MBA programs in Rounds 1 and 2.
So you applied to a few schools in Round 1 and it didn’t work. Then you sent out several more applications in Round 2 with no luck. Maybe you are not deterred and plan to send out more applications in Round 3. But if you were not successful in Rounds 1 and 2 what makes you think that Round 3 – with its limited availability – will be any different?
Before you spend more time and money, we would recommend that you reassess the situation and determine what the weak points of your application are. First address the following questions:
Does your resume offer proof of your abilities and clearly explain the impact you have made? Is your GMAT in the 80th percentile for the schools you are applying to? Do your career goals make sense based on your background and skills? Have you provided concrete reasons why you need an MBA now? Have you demonstrated that the MBA program is perfectly suited to your learning and career needs? Do you have at least two years of work experience? Are you sure that your recommenders provided specific information to prove you are an outstanding employee with great leadership potential?
Instead of rushing to submit Round 3 applications, take some time to consider your candidacy in detail and be honest with yourself if some of these issues have not been addressed. This can offer a clear set of next steps as you consider applying in the next application cycle.
Situations when it might be okay to apply in Round 3:
– You are not applying to top ranked programs.
Top ranked programs have earlier deadlines and are able to quickly fill up their classes. However, outside the top programs, enrollment ends much later and there are still plenty of opportunities to gain admission even in Round 3. Many MBA programs will still accept applications and admit students even after deadlines have passed.
– You are applying to an Executive, Part-time, or Online MBA program.
If you are considering an Executive, Part-time, or Online MBA program then it is acceptable to apply in Round 3. These programs receive fewer applications and are always looking for outstanding candidates to fill their classrooms.
– When applying to certain European MBA programs.
Certain European programs – like IESE and INSEAD – take a different approach that seeks to balance the number of applicants they will accept in all application rounds. Other schools, such as RSM, have rolling admissions and are accepting and admitting applicants until their cohort fills up.
– Your candidacy has improved significantly.
If your candidacy significantly improved since Round 1 or 2 then it might be okay to apply. Examples of this are a big improvement in your GMAT or TOEFL, or you received an important promotion or assignment at work. These factors might be enough to justify an application in Round 3.
Everyone has different reasons for wanting to get an MBA, but regardless of your personal circumstances, all applicants should proceed thoughtfully before rushing to submit Round 3 applications. If you are curious to know more about how we work with our clients, especially those targeting Round 3 applications, please schedule a FREE 20-minute consultation today.