Should You Apply to B-School Round 3 or Next Year?

Register for the Round 3 vs. Next Year webinar! — Two compelling options. Choose wisely.

The answer, as is often the case in MBA admissions, is…it depends.

You didn’t think we’d give you a clear cut yes or no answer did you?

FACT: The chances of gaining acceptance decrease as the rounds progress. This means that acceptance rates during R3 are generally lower than during R1 and R2. Similarly, grants and scholarships are harder to come by later in the admissions game.

Now, this doesn’t mean that you shouldn’t apply. Your chances of acceptance will be zero if you don’t apply. They are greater than zero (even if not much greater) if you do apply.

4 Reasons Why You Should Apply R3:

1. You have a class of 2018 or bust attitude. If you really have your heart set on joining the b-school class of 2018, then you should definitely apply R3 (or even R4 if your target program offers that option). Again, you’ll have ZERO chance of getting in if you don’t apply.

2. You’re an admissions dream come true. If you are a truly exceptional candidate – stats-wise, diversity-wise, experience-wise, etc. – then you should apply R3/R4. Not everyone is rejected (or there wouldn’t be such a thing as late rounds) and if anyone is going to get in, it’s going to be those applicants with extremely impressive profiles.

3. You have nothing to lose. If you don’t mind spending the extra money, time, and energy to apply now, get rejected, and then apply again during R1 of the next application season, then you really don’t have much to lose going for it this year. In fact, if you’re lucky enough to get feedback (that is, if you’re unlucky enough to get dinged), then that feedback will prove extremely valuable when you reapply next year.

4. You were rejected R1 and have a new plan. You understand that you simply aimed too high and are now ready to apply to less competitive programs.

6 Reasons Why You Should Wait Until Next Year:

1. Your essay’s still not quite right. Maybe you don’t have the time to create flawless essays before the R3 buzzer. In that case, it’s much better to wait until you can submit something closer to perfect than to rush and send in a sloppy essay early.

2. You plan on retaking the GMAT. If you’re not happy with your current GMAT results, then you should wait until you can apply with that (hopefully) higher score.

3. Your recs won’t be ready. If you won’t be able to secure the best recommendations by the R3/R4 deadline, it’s better to wait for the ideal recommenders than to go with less-impressive ones early.

4. Your work experience is weak. Applying next year will give you more time to bulk up your work experience and personal profiles.

5. You’re uncertain about your goals. If you’re fuzzy as to why you want an MBA or your reasons for choosing particular schools, get clarity, and then apply – preferably round 1.

6. You have international issues. If you are an international applicant and may have trouble getting the necessary visa and financing, it might be worth taking extra time.

If you need more help making this decision, please contact us for more advice.

Related Resources:

• MBA Admissions A-Z: 26 Great Tips [free guide]
• Application Timing: When Should You Submit?
• MBA Maze: Application Timing

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Madhur Gupta

Hey Linda

I am from INDIA, currently in my final year Mechanical Engineering Under graduation
My profile includes
1. student in Delhi Technological university ( among top 10 in Engineering college in india)
2. GPA -4.0/4.0
3. GMAT -760
4.Team Leader of Formula Student team of College ( a 40 members team ,
that works through out an year to design and build a formula race car to participate in Formula Student competition (international competition held by IMECHE) ( Made 2 cars in 3 years and participated in a total of 4 competitions – 2 in UK, and 2 in India.)
5. 2 years of experience working in NGO – Make a Difference- Headed a city team .
6. 3 internships :
Honeywell ( campus placed)(Mechanical Design)
KPMG ( management consultancy)
NTPC ( a PSU )
7. Won college scholarships for being the department topper in 2 semesters
8 Won a national level scholarship for excellent leadership potential
9.Founder of a travel group , in which we organize Adventure camps to
offbeat locations in India ( already organized 9 camps in 1 year with 50 students each)
10. Also the All India Topper in class 10th with perfect 10/10 CGPA and a perfect 100/100 score in Maths in class 12th exams

My career plan includes to do an MS in finance at this stage , gain expertise in the field and do a job in the same sector for next 5 years. The plan after that is to go for a good MBA and enter into management roles.

The problem( dilemma) that I face right now is that most of the top MS finance applications deadlines have already passed , ( though last round of some of them still have a month ), but I can still prepare my application in the given time. On the other hand, I have a campus placement offer as an area manager ( operations profile ) at AMAZON -India. The offer seems to be good from both monetary and profile point of view as a starting job,but I am not sure , whether a job at Amazon( operations profile) will increase or decrease my chances of getting in MS finance/Financial Engineering if I apply next year.

Given the fact , that I have no relevant experience in finance at this stage either, does make me think , that i can do something part time , in the coming year to show some relevant exposure to finance , but I am not sure about it.

Please guide me , what options I can consider , and weather applying right now will anyhow be better than next year.

Also let me know , if there can me other/better courses that i can look for next year !

Thank you for reading the long long post , if you have reached this point 🙂
Regards
Madhur
- Linda Abraham
  
  Madhur,
  
  First of all working at Amazon is prestigious and a resume builder. However, I don’t see it moving you closer to a Masters in Finance. Then again, few of your activities reflect an interest in finance so maybe this will allow you to pursue what you are really interested in…
  - Madhur Gupta
    
    Hey Linda, Thanx for replying
    
    I didn’t get what you intended. What in your opinion should be my course of action ? Conmtinue with Amazon , and find out more activities related to finance in the mean time , or apply right now.
    
    PS : I might as well look for job opportunities in finance, how ever, I am pretty sure, that these will not in anyway match my pay-package or profile at Amazon.
    - Linda Abraham
      
      Sorry if I wasn’t clear, but I’m not sure I can really advise based on what you wrote — despite the length.
      
      If you really want to go into finance, yes it seems to make sense to get a job that launches you on that path rather than taking you away from it. Why do you want an MS in Finance?
      
      On the other hand, if you love what you do in engineering and are excited about the Amazon opportunity, maybe you should continue down the path you’re on and forget the MS in Finance?
      
      Linda
      - Madhur Gupta
        
        Hey Linda, thank you for replying again. I really appreciate your regularity and motivation to keep this page so active. This is something great !
        
        The career plan that I have chosen for myself is to gain specialization in a field in next 5-6 years and go for an MBA after that.
        
        At this stage, mechanical engineering does not interest me to continue it for next 5 years. Looking at the Indian jobs scenario,as well as from an MBA point of view, gaining expertise in Finance seems to be a very good option logically.
        Apart from that, mathematics has always fascinated me. I tried out a few online courses in Finance and Mathematics, and found them very interesting to continue with. Also, I believe, that I will do great in quantitative finance, and can lead my way through it.
        
        However, as you might have guessed, coming from a core engineering background, I have not been able to find a good or even average job in finance, for which I might consider leaving the Amazon job.
        
        I agree that, the situation I am in is not an easy one, and there are many angles to it. But , then , This is why , I have approached an expert like you.
        
        Can you help me in suggesting some good courses apart from MS finance and MS- Mechanical Engineering that hold a global reputation ( specially in India).( I do not want to go for a course , that might be valued in USA,but not in India), that I might consider as well.
      - Linda Abraham
        
        I really can’t comment on the job market in India at all. I simply don’t know about it.
        
        The CFA is a respected credential certainly in the U.S. and it will evidence that you are preparing yourself for a career in finance even as you work in engineering. You might want to consider pursuing it.
        
        Best,
        Linda
Seerat

Hi Linda,

Thanks for the webinar.

It’ll be great to get your views on whether I should apply in R3 this year or R1 next year. My profile’s snapshot is as follows:

Indian Female applicant
Bachelors in Mathematics (Honors), Delhi University, Aggregate: 66.9% (First Division)
760 GMAT (Q50, V42, IR 5, AWA 6),
Current Position: Associate, Asia Power and Fuel Markets Division, ICF International (India office)
Total experience: 5.5 years ( 1.5 year at EY, more than 4 years in energy consulting at ICF)
Leadership experience at work: Currently lead teams (3-10+ persons) for consulting projects, have 2 direct reports.
Volunteer/Extra-curricular experience:
1. Unique volunteering experience in Greenpeace
2. Extra-curricular mainly in dancing: Professional dance training for 9 years and part-time choreographer in the past (this extra-curricular was prior to college, during college and some of it post-college)

Post-MBA goal: Short-term – strategy consulting in energy, long-term goal to set-up energy consulting firm in India.

Should I apply in R3 or R1 next year? Also, what could be the schools that would be a good fit and reachable in R3, given that my consulting experience is not in the top management consulting firms and I really don’t have any concrete international experience?
– Seerat
- Linda Abraham
  
  Your stats are strong. You have diversity elements. And your clear on what you want to do and why you want an MBA.
  
  I would say give it a try R3 but it boils down to: Is the reduced possibility of attending in 2016 worth the effort and expense of applying despite a lower chance of acceptance?
  
  Also confirm that a visa will not be an issue. Obviously if you won’t be able to get a visa in time, wait until R1.
  
  In terms of programs, look into Duke, Yale, UT Austin, MIT Sloan, CMU Tepper, and for a stretch Stanford.
  
  Please let me know if you would like help with your application.
Mirandi

If an institution (Organization operating fellowships such as: American Council for International Education, IEE – Fulbright’s partner, World Learning etc) is applying for an MBA for me, will the deadline matter? Institutions are looking for cost sharing from universities. I am a male, international from developing countries in Europe and have a GMAT of 700, Toefl of 115 and a GPA of 3.72 from a top 80 US undergrad school with over 4 years of experience operating my own business and am looking to get into Duke, UCLA or MIT. Should I leave it for next year?
- Linda Abraham
  
  I don’t know the answer to your question about an entity applying for you. As far as I know, yes the deadline still matters, but I haven’t had this question before. Sorry.
  
  You have a shot even R3, but it is not as good as it would be round 1 or round 2. Here is where your attitude comes in. Is the reduced possibility of attending in 2016 worth the effort and expense of applying despite a lower chance of acceptance?
  
  I think it’s worth it, but it is a personal decision. If you would rather apply when your chances are better, wait until R1.
Green

Hi Linda, thanks for the great presentation on the webinar. I do have a question regarding whether to apply in round 3 or next year. I have quite a unique profile (Dutch/Indonesian, PhD Toxicology, lived in 4 continents and traveled to 45+ countries), good experience (3 year Scientist specialist in 2 Fortune 500 companies), average GMAT for my schools (680) and GPA (top 20%) but I am specifically aiming for a full scholarship at mid-Tier schools (Boston U, Rice). Should I apply in round 3 or next year? Thanks so much Linda!
- Linda Abraham
  
  Green,
  
  If you want a full ride, I’d wait until R1 of next year. If that isn’t a deal breaker, then apply. Sometimes the schools just run out of scholarship money by R3. That’s the risk you run.
  
  If the scholarship is not a deal breaker, also consider Cornell Johnson’s accelerated MBA.
  - Green
    
    Thanks Linda! Actually scholarship is a very big deal for me. Since I dont see my salary increase after MBA will be very significant considering my background, I cant justify paying a lot for MBA. Though most schools advised to apply in early rounds for best consideration for scholarship, Rice doesn’t mention this at all in their website. Also from my phone conversation with them, they seem to encourage me to apply for round 3 by giving the impression that all rounds are (more or less) the same. Doyou think they’re just saying this?
    
    Thanks again Linda!
    - Linda Abraham
      
      Green,
      
      You’re welcome!
      
      Your logic makes sense. Rice clearly has an incentive to encourage more applications. I don’t like to assume that they are advising you in their interest and not in yours, but…
      
      If they encouraged you to apply and you had told them about the importance of a significant scholarship, I would give it a try.
Lacey Wulfe

what is the impact of a non business major from undergrad. Is it considered diverse to have, for example an education major, or does it hurt
- Linda Abraham
  
  It is a non-traditional educational background and would add a diversity element. However, it also raises a question: Do you have the quant skills to do well the a demanding, quantitative MBA program. Your GMAT quant score will definitely be looked at.