If you’ve found yourself in Round 3 of the MBA admissions season and haven’t yet submitted your application(s), you might be wondering whether or not you should postpone your MBA dreams until next year. As is often the case in MBA admissions, the answer is – it depends. (You didn’t think there was a clear-cut yes or no, did you?)
In most cycles, the chances of gaining acceptance decrease as the rounds progress. This means that MBA acceptance rates in Round 3 are generally lower than those in Rounds 1 and 2, but schools also receive significantly fewer applications in Round 3. Similarly, grants and scholarships are harder to come by later in the admissions game, and for international students, obtaining visas could present an issue, albeit country dependent.
So, what should you do? If you don’t apply, your chances of acceptance are obviously zero. They are greater than zero if you do.
Five reasons to apply in Round 3
You have a “Class of 2026 or bust!” attitude.
If you really have your heart set on joining the b-school class of 2026, perhaps because you were recently laid off, then you should definitely apply in Round 3 (or even Round 4, if your target program offers that option).
You’re an admissions dream come true.
If you are a truly competitive candidate – stats-wise, diversity-wise, experience-wise, and so on – then you should apply in Round 3 or 4. Not everyone gets rejected in these later rounds (or these rounds wouldn’t exist), and if anyone is going to get in, it will be the applicants with impressive profiles.
You have little to lose.
If you wouldn’t mind spending the extra money, time, and energy to apply now, getting rejected, and then having to apply again, then you really don’t have much to lose going for it this year. In fact, if you’re lucky enough to get feedback (if you’re unlucky enough to get dinged, that is), then that feedback will prove extremely valuable when you reapply next year.
You have a lot to gain.
If you’re accepted this year – rather than next year — you will gain your MBA and start earning a post-MBA salary a year earlier.
You were rejected in Round 1 and have a new plan.
You understand that you aimed too high and are now ready to apply to less-competitive programs.
Seven reasons to wait until next year
Your essays are still not quite where they need to be.
Maybe you don’t have enough time before the Round 3 buzzer to create flawless essays. In that case, it’s much better to wait until you can draft something closer to perfect than to rush and submit sloppy essays. If you’d like guidance in polishing your essays, click here.
You plan on retaking the GMAT or GRE.
If you’re unhappy with your current GMAT or GRE results, and your target programs require one of these aptitude tests, you should wait until you can earn and apply with a higher score. Or perhaps you like the shorter length of the new GMAT Focus and want to give that version of the exam a go; if so, waiting might be in your best interest.
Your recommendations won’t be ready.
If you cannot secure the best possible recommendations by the Round 3 or Round 4 deadline, it’s better to wait for the ideal recommenders than to move ahead earlier with less-impressive ones.
Your work experience is weak.
Applying next year will give you more time to bulk up your work experience and personal profile.
You just moved to a new company or received a promotion.
Applying in the 2024-2025 application season will allow you to demonstrate the impact you’ve had in your new role.
You’re uncertain about your goals.
If you don’t have clear, concrete reasons for wanting to earn an MBA or for choosing particular schools, wait, get clarity, and then apply next year – preferably, in Round 1.
You have international issues.
If you are an international applicant and having trouble securing the necessary visa and financing, it might be worth waiting until next year.
For a more in-depth analysis of the “Round 3 versus next year” application debate, watch our webinar on the topic, in which Linda Abraham addresses the differences between Round 3 and earlier rounds, outlines the pros and cons of applying in Round 3, and helps you answer the million-dollar question of when you should apply to business school. Click here to watch the webinar!
Need help deciding when to apply?
Determining the best time to submit your applications is not always easy. Work with an expert admissions consultant to create a strategy for when and how to apply that will maximize your chances of getting accepted!
By Natalie Grinblatt, a former admissions dean/director at three top business schools. Natalie has reviewed more than 70,000 applications, interviewed more than 2,500 candidates, and trained nearly 700 admissions directors and alumni volunteers to select outstanding candidates for admission. Her clients gain admission to top programs, including those at Harvard, Stanford, Wharton, MIT, Cornell, Columbia, Berkeley, Chicago, Northwestern, and NYU. Natalie holds an MBA from Michigan Ross. Want Natalie to help you get Accepted? Click here to get in touch!
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