Compared with other graduate school applicants, prospective MBA candidates seem to have an abundance of time.
A number of MBA programs have three or four admissions rounds, giving prospective students the chance to apply in the fall, winter or spring and start classes in autumn of the following school year. That means students need to make a decision about whether to apply in the first round or wait and prepare for a later admissions cycle.
Round one usually closes in September or October and attracts prospective students who have been working on their applications for many months, experts say.
“The competition within that pool is strong,” says Paul North, director of admissions and marketing for the full-time MBA program at Michigan State University.
Many first-round applicants to the Leeds School of Business at the University of Colorado–Boulder have high undergraduate GPAs, high GMAT scores and stellar resumes, says Andre Gill, assistant director of admissions and outreach for the MBA and M.S. programs.
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But that shouldn’t scare prospective students away when deciding if an early applicant pool is for them. Below are three areas of students’ applications that MBA experts encourage them to look at when deciding if they’ll apply in the first round.
Low grades or test scores: While first-round deadlines often draw students with competitive undergraduate GPAs, sometimes an applicant with a GPA that’s closer to 2.7 should strongly consider entering in this round.
“I tell them to apply early within the process,” says Gill. “Explain to us why your GPA is not as high.” Candidates should highlight other areas where they may excel, such as in their work experience, he says.
Their GMAT scores may also help lessen the negative impact of a weak GPA. “Submitting a high GMAT score really shows us that this student, despite whatever their undergraduate record may be, that they’ve actually really studied,” Gill says.
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If a low GMAT score is the problem, applying early can give a prospective student time to try again. “If, for instance, you apply and you were rejected and you go back and retake your GMAT, then we would definitely want to reconsider that application,” says Lisa Shatz, assistant dean and director for MBA programs at the University of Texas–Dallas’ Jindal School of Management.
First-round applicants who suspect their test scores are too low can also bring that up with the admissions office — during their admissions interview, for example, she adds. If they plan to retake the exam, the admissions office could agree to hold off on making an acceptance decision until the new scores are available.
Financial aid: Prospective business school students who are worried about how they’ll pay tuition may stress less if they apply early. In the first two rounds at the Leeds School of Business, “that’s when we have more money available,” says Gill. Leeds offers several scholarships for students that can range between $5,000 and $16,000.
At the Jindal School of Management, which allows applicants to apply as late as May 1, the scholarship deadline for prospective MBA students has traditionally been March 1. “After that it becomes whatever’s available,” says Shatz.
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Dual-degree options: If students are interested in getting an MBA and another degree, such as a J.D., at the same time, delaying their MBA application may not be the best decision.
“It is better to apply within the first round,” Gill says. Moving early, he says, gives students more time to figure out what happens if they’re accepted into one program and not the other.
At the Jindal School of Management, MBA students may also pursue an M.S. degree in accounting, finance, marketing and number of other specialties, but they’ll have to know if they’re accepted into the MBA program before thinking about the other master’s options.
“If you’re wanting to do the full-time program, then you have to do the full-time MBA first, and then you add on the M.S.,” says Shatz. Students usually tack on a few more classes to their MBA degree to get the specialized master’s, she says.
Applying early can be advantageous for dual-degree candidates, as well as other kinds of prospective students, but Gill says there’s one time that all MBA hopefuls should consider applying: “When you’re ready.”
For prospective students, this means having clear goals in mind and having a strong sense of how an MBA will advance your career, he says.
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Determine if You Should Apply in Round One of MBA Admissions originally appeared on usnews.com