The Admisions Journey Starts with Researching & Soul Searching.....
One by one, the worlds top-ranked MBA programs from the most prestigious business schools and universities around the world have been announcing their deadlines for Round 1. The roadmap for successful admission begins with a critical process of what I like to call Researching & Soul Searching, which means spending the necessary time and energy figuring out some key things: Who am I? What kinds of work do I enjoy and do not enjoy? What am I good at and what do i need to improve? What industries are a match for me and in what markets around the world? What business schools are the right fit for me to bridge the gap between the me of today to the future version of myself?
There's a lot of mythology surrounding just when is the best round to apply. Surely there are clear advantages to applying early, but the real answer is this:
The best round to apply is the one in which you are truly ready and fully prepared!
Period.
I address this very question in one of the early chapters of my "Getting into an MBA" book series, to help people understand how to be strategic in the process and which admissions round deadlines make the most sense for them. In most American MBA programs (and many European ones as well), the deadlines work like this: Round 1 in September, Round 2 in January, and Round 3 in March, while some schools have additional rounds as well. In terms of your chances for success at most of these top American programs, there is little difference between Rounds 1 & 2, other than knowing earlier where you'll be studying and living the following fall. Statistically, in terms of scholarships, indeed, there can be slightly higher awards in Round 1. On the other hand, Round 3 is more risky. Certainly there are seats available each year at most schools in Round 3, but they will definitely be more limited, and this deadline can be particularly challenging for international applicants. In terms of scholarships, that budget may well be exhausted by the time the 3rd round comes along.
We also discussed this during a recent episode of MBA Waves - Epsiode 102 - "Gearing Up for Round1". Be sure to have a listen and learn how you can prepare for success and make the most of this summer. And above all, if you think you'll be fully ready to apply for Round 1 - don't delay!
Finally, if you don't know AIGAC - the Association of International Graduate Admissions Consultants - you really should! Not only are AIGAC member consultants vetted for the highest level of quality, transparency, and proximity to the world's best b-schools, the AIGAC website is an excellent resource for loads of critical information, including admissions deadlines for most of the top schools (to be updated in the coming days and weeks), suggestions and support for writing essays and getting references, and more! Also, each year, AIGAC sponsors a highly prestigious virtual MBA Applicant Fair, with over 25 of the world's most sought after MBA programs. It's just happened this year, but don't miss it in May 2024!
Thinking you might be ready for Round 1? There's one great way to find out...
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