Ticktock, ticktock, ticktock. With a little over 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.
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. MBA programs want a mix of students from different industries, functions, and backgrounds in their classes. Many candidates from overly represented groups, such as consultants and bankers, choose to apply in Round 1. And because many of these applicants are then accepted in Round 1, Round 2 becomes much more competitive for candidates from those groups. Although the goal is to submit your strongest possible application, 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, so plan to do everything you can to submit your strongest application in Round 1.
Before submitting, all applicants should ask themselves very openly and honestly, “Have I created my strongest application?” Here are a few things to consider when deciding whether to submit your MBA application(s) in Round 1 or Round 2.
First, have you taken the required standardized tests? If you have taken the GRE or GMAT (or for some programs, the Executive Assessment), the key issue 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 scores are for your desired programs.
If your score is substantially below the average at your target school(s), this will make getting accepted more of a challenge. Consider whether you have time to retake the exam. If not, you will need to demonstrate your academic abilities in another context. For example, you could highlight your high GPA as an undergraduate, the A grades you earned in quantitative courses, and/or quantitative examples from your career.
Although some schools grant test waivers, that is neither a given nor a short process. And at this point, even if you were to be granted a test waiver, you might not get it in time 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.
If your test scores are where you want them to be, you will want to consider whether your other application elements are the best they can be. Most importantly, 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 and telling your story effectively are absolutely critical. 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, and that you are a strong candidate for their program.
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 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.
Still, there is more you need to do to apply. One crucial element is the application itself. You will need to fill in information about your extracurricular activities, career path, most significant volunteer commitments, and numerous other elements of your candidacy. Many programs include short-answer prompts (similar to mini essays) on the application, too, and some even require video responses. Crafting strong answers for these prompts and videos takes time. This is not something you can rush through 15 minutes before the deadline. So, consider whether you have left yourself sufficient time to respond to these questions effectively.
Finally, have you given your recommenders enough time to write a great recommendation and complete it on time? If you haven’t started this part of the application process, you will need to decide whether you really want to put pressure on your boss to write a recommendation for you during their vacation because you failed to get your act together in time.
Take your time to consider the quality of your Round 1 application. If you are still unsure whether you should apply in Round 1 or wait till later, you can get help with this decision, and answers to all your other application-related questions, by scheduling a free 30-minute consultation with an expert from mbaMission’s consultant team.
