Are you struggling to decide whether to apply in a late round or postpone your application to the first round in the fall? 

There are so many opinions for and against applying in a late round. The right answer depends on your particular situation.

In this post, I’ll outline the 3 evaluation criteria that MBA admissions boards use to evaluate MBA applications in late rounds. I’ll also give you 4 questions to ask yourself to determine which MBA application round is right for you.

But first, let’s look at things from the admissions boards’ perspective.

Their number one task is to find the most talented, diverse group of students who will fit in their community.

By the third round they’ve seen every profile imaginable:

1. investment banking analysts who’ve led billion dollar deals  
2. students who speak 5 languages fluently as well as those who’ve worked/lived in multiple countries and have a global worldview 
3. marathon / triathlon runners, Mount Everest climbers 
4. applicants who’ve had to overcome personal challenges and hardships

But most importantly, they are tired.

Does that mean you should not apply round three if you are ready and now is the best time for you to apply?

The simple answer is that you should apply round three if it makes sense for you. But first ensure that you have a compelling case before applying.

How MBA Admissions Boards Evaluate Late Round Applications 

So how do you determine if you have a compelling profile for a late round application?

Here are the 3 evaluation criteria the admissions board will use to evaluate your MBA application:

1. academic profile 
2. leadership track record 
3. diversity and fit

Take a close look at the evaluation criteria that the admissions board uses and objectively determine whether you stand out or if you need to improve on your profile.

Academic

Is your GMAT score exceptional, strong, average or weak?

The answer to this will influence whether it’s a good idea to apply in the late round. An exceptional GMAT (for example 760/780) could give you an extra bonus point in the evaluation process, especially in the later round when the overall quality of the pool can be slightly weaker (especially based on grades/GMAT). If your GMAT score is weak or just average, it may suggest devoting more time to prepare and retake the exam and applying in the early round in the fall.

There are always exceptional situations where someone’s test score is significantly weaker than the average class profile but the other aspects of their application are compelling enough to land them an admissions offer. Strong-to-exceptional GMAT scores are attractive to the admissions board. Average to weak GMATs may suggest a need to retake the test before applying in the late round or pushing off the application to the early round the following admissions cycle.

How strong is your undergraduate (and graduate) experience? What was your GPA, major, school reputation, and grade performance. The admissions board is attracted to applicants with excellent academic track record. Weak to average GPA can raise concerns but they can be offset by very strong GMATs and you can still go for a late round application if the GMAT is strong to excellent.

Leadership

A strong leadership profile will be attractive regardless of which round you apply in.

Schools are looking for candidates with strong leadership profile so if you can demonstrate evidence of consistent impact at your job and beyond, it may still be worth applying round three. You will need to communicate why you are choosing to apply now instead of earlier.

There are fewer spots available in the third/late rounds.

However, applicants with strong/exceptional leadership can secure one of these few spots if they can show that they have a strong leadership profile. If your leadership profile is average, it is in your best interest to defer your application and proactively address this hole before applying.  

Diversity & Fit

Round three or late rounds are used by the admissions board to shape the final class.

Applicants from traditional career profiles can still get in during this late round but they have to have a clear reason why they are applying now instead of earlier in the process. Additionally, they need to have something impressive about their profile/brand that will enrich the diversity of the class. It could be from their personal or community life.

The late round favours applicants with unusual backgrounds who can make a strong case for their need for the MBA.

While schools value diversity a great deal, they will not compromise on fit. Neither will the admission board compromise on quality by admitting a non-traditional candidate with very low academic records.

If you have a strong academic profile, clearly articulated rationale for why you need the MBA, and come from a less popular professional profile (doesn’t include bankers and consultants), then it is worth applying in a later round.

There are some instances where usual suspect applicants can get away with applying in the later round. A recent promotion or greater opportunity at work that reveals a hole in your skill set or further need to develop yourself is a fair reason for why you may decide to apply in a late round. Some people also have unusual circumstances such as military commitments or even personal commitments that made it difficult to apply in an earlier round.

You will not be penalized for applying in a later round if you have a legitimate reason for applying later.  

How to Decide When to Submit Your MBA Application  

Deciding to apply? Ask yourself these 4 questions: 

1. Are you applying from an overrepresented applicant profile?
2. Is your leadership average or worse?
3. Are you concerned about your GMAT/GPA?
4. Could you improve your overall application if you delay it by several months?

If you answered yes to anyone of the questions above, then take another look at whether it makes sense for you.

The last thing you want to do is apply with the view that you will simply reapply if it doesn’t work out the first time around.

It is best to apply as a first time applicant than as a reapplicant. If on the other hand you feel ready to apply and have all the factors you need, then go for it.  

Which Round Will You Apply?  

I’ve outlined the 3 evaluation criteria that MBA admissions boards use to evaluate MBA applications in the late rounds. I’ve given you 4 questions to ask yourself to determine which MBA application round is right for you.

What do you think? Which application round do you think is right for you? Round 3 or Round 1?

Jump in everyone! I love to get your comments and feedback, so please leave your thoughts in the comments box below.

 The top 5 graduate business schools according to the FT survey remain reasonably constant from year to year. This year the only major shift is Insead, which has dropped out of the top 5 and down to position 6. 

The 2012 FT Global MBA rankings top 5 are:

1.  The Stanford Graduate School of Business
2. Harvard Business School
3. University of Pennsylvania: Wharton
4. London Business School
5. Columbia Business School

 The Rise of the Stanford Graduate School of Business

 Stanford started to reposition themselves in the MBA market in 2007 with a complete overhaul of the curriculum and the way in which the program is studied. The final stage of bringing the graduate school curriculum firmly into the 21^st century was the opening of the new state of the art campus in November 2011. Of course, many of these changes will not have flowed through into the rankings yet as the statistical data relates to graduates from 2008.

 Teaching at Stanford reflects the most successful corporate cultures of our time like that of Google Inc. The teaching is tailored to the individual and the environment encourages collaboration, innovation, inclusion, and differentiation. This provides a richer experience for students and maximizes the potential of each student to succeed.

 How to Use These Rankings in Determining Your Choices

 They are certainly a useful indicator and provide access to information that enables you to compare and contrast the top graduate business schools across a range of criteria. These background statistics provide a wealth of information such as:

•  Potential salary increase after study
• Program value for money
• Placement success after study
• Diversity of the student body
• Diversity and qualifications of the faculty

 However, these types of survey should only be used to get a flavor of the graduate business school. When researching your choices you will need to take into account much more information than this. In order to get the most out of your studies, you need to identify the institutions that are the best fit for you.

 Therefore, getting hung up on a big name graduate business school just because of their name and reputation in the marketplace is not the way to shortlist the schools you are interested in attending. The schools all run distinct programs that may or may not fit with your learning style, career aspirations, lifestyle and goals. Making sure that the school is the right fit for you is far more important than the prestige of the school. The right fit helps to ensure that you will achieve your goals and ultimately find the success you are seeking.

 Carrying out this research is intensive but is well worth the time, as it will ensure that your shortlist contains only schools that are the right fit for you. What do you think of the 2012 FT Global MBA rankings and how do you make use of these surveys? Share your thoughts and questions with us in the comment section below. 

First, a fresh perspective begins with an unemotional look back.  Start with honest self-reflection.  Become aware of how you projected yourself through your application.   Ask yourself these questions to evaluate if you made any common mistakes:

• Your attitude: Did your attitude come across as forward looking and positive, projecting the image of you as a sensitive person, open to learning? Or did your essays and answers come out sounding cynical, brash or arrogant, somehow lacking in the emotional quotient department?
• Image, presentation and communication: Could you have presented yourself in a more articulate and professional manner, both in your essays and during the interviews?
• Evidence of lacking in self awareness and maturity: Could you have given out signals of immaturity, evidence of poor decision making or an insufficient understanding of personal strengths and weaknesses? What about your recommenders? What did they say about you that could have raised red flags in these areas? All of these can be reasons for rejection.
• Why you need an MBA: Did your application clearly state why you believe you need an MBA?  Did it offer reasons for each specific program to which you applied and why you believe it is a good fit for you? Or, did you copy and paste answers to these key questions? 
• Your goals, drive and commitment: How clear were you in explaining your career goals? Could you have shown more passion about where your career path was headed or where you want it headed? Did your application reflect that you are a driven individual, ready to take on personal and professional challenges?
• Background: Did all of what you submitted in your application gel together to provide a complete and clear picture of you, or could there have been glaring errors or inconsistencies? Were there unexplained holes in your work experience? Did you remain silent or give insufficient explanations regarding periods of unemployment or reasons for leaving a job soon after joining?   
• Recommendations: Did you select the best people to provide recommendations for you? Did you discuss with them the best angle to take in making their recommendations?
• Attention to detail: Were there spelling and grammar mistakes or factual errors in your applications, particularly your essays?

Second, re-evaluate your brand, as well as that of your target school. Decide if there is truly a compatible fit between the two.  In applications, it is essential to stress what you stand for; that is your personal brand and what illustrates your uniqueness. If you did not take the time to map out your personal brand clearly, those who did will leap-frog over you because they will present a far more comprehensive profile.  

Of course, while you are determining your own brand, it is also important to recognize that the MBA school has a brand that it is seeking to uphold as well.  For each top MBA program the brand is unique. Each has differentiated themselves in their approach to learning and teaching methods. The culture and values that make up a school’s brand can vary so spend time visiting each school and engaging students, faculty and alumni to gain a better understand of what that school stands for.  These are important points to understand so that you may tailor your application to suit the school’s brand when you reapply.

Your application is more likely to be selected if there is a great fit between your personal brand and that of the MBA program.  Your application should strive to make it clear that the two brands are both compatible and complementary to each other. You can only do this if you take the time to research and learn about each program to which you apply. 

Third, get started on your reapplication process early!  Remember, begin the reapplication journey with a review of your rejected applications and deep introspection. And, seek the guidance of a reapplication consultant who knows how to help you reach your goal of admission to a top US MBA. If you follow these steps, you are well on your way to success.   Contact me (chioma@expartus.com) to discuss a reapplication strategy going forward. 

The truth is that there are three possible answers your question:

1. You failed to make a clear case for being accepted.  Most applicants are rejected because they fail to make a clear case why they and the program are a great fit. It does not matter how good you are if you fail to show it well.  This is a communications issue.  Resolving it means stepping back and starting your application from scratch.  Develop a better understanding of who you are and how to map your skills and experiences to the brand of the school.
2. Lack of basic qualifications and experience. People who are on the margins are sometimes accepted if they clearly make a case for why they should be an exception. But often, if your work experience, GPA and GMAT scores are way below the range acceptable to the school, you will be rejected.  Again, it’s time to step back and reevaluate.  Where are your weaknesses and what can you do now to address these before reapplying?
3. Bad luck and bad timing. A few unlucky applicants fail to gain admission, despite having a good fit and a good application package, purely because they belong to an industry or sector that is over-subscribed in the applicant pool or because they applied in a year where fewer candidates from that profile are admitted. This is usually unavoidable and these applicants should try again because the applicant pool is constantly in a state of flux.

The most difficult part once you receiving your rejection can be deciding to which group you belong. This is where taking an unemotional and rational look back at the rejected application documents may help. Try the services of an experienced application counselor who knows what top business schools are looking for at this point.  The fresh set of eyes may help you to identify necessary changes so that you may get in to the top MBA program of your choice.

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Consider MBA Candidate, Mark.  Mark presented a strong application to the Admissions Committee.  He had remarkable work experience, his essays spoke of international and humanitarian diversity, and his GMAT scores were strong.  He was invited to interview.  

As the appointment date grew closer, Mark found himself tossing and turning at night, worrying about how he’d answer the interviewer’s questions.  The night prior, he didn’t sleep at all.  By the time he entered the meeting room, Mark was a basket full of nerves and unrested.  

While Mark made his best effort to convey his personality, background, and fit for the school, the interview was botched.  His personality was dampened by lack of sleep.  His ability to stay on topic and answer questions succinctly was muffled because he was not at his best.  His nerves had drowned his ability to communicate effectively.  Sadly, despite all of his prior accomplishments, Mark was not admitted. 

Don’t be Mark: instead, exude confidence and preparation! Quell your nerves by using the following tips so that you can excel at your own MBA interview!

• Know your application. Ensure that you can speak clearly and with detail about the experiences that you’ve highlighted during the application process.
• Practice interviewing.  Sit down with a friend or colleague who is willing to question you and give you feedback on your responses.  The more often you put yourself in this position, the easier it will be for you to find the right words when it is time for “the real thing.”
• Prepare questions in advance.  A word of advice, don’t ask questions that you should already know the answers to from the school’s website or campus visit.  Make sure that the questions you prepare truly reflect your interest.
• Dress for confidence.  Men should consider a suit.  Women may wear a pant suit or skirt suit.  Just be sure that your attire is prepared the evening before, from ironing to accessorizing.  This way, there won’t be any hiccups to heighten your nerves as you head out the door.
• Review the logistics.  Make sure your directions are printed and ready to go.  Make sure you have gas in your car or know the bus route to take.  Don’t get off to a bad start by skipping your preparation.
• Breathe deeply to release anxiety.  Here are a few suggested exercises.  This is so important that I even had one client who would sing songs at the top of her lungs in the shower before her interview.  Sounds silly, but doing so helped her to breathe deeply and naturally, so consider cranking up your favorite tunes on the way! Just make sure you don’t have angry neighbors calling the cops. 
• Take water.  Bring your own. If you get nervous, it’s likely that your throat will get dry. You don’t want to answer your questions in an unclear voice. Also, having it handy will give you something to hang on to if you need a second to think or to slow your thoughts down.

Most importantly though, remind yourself that securing the interview in the first place indicates that the committee is interested in you.  You’ve passed the first “test.”  Now, they are looking to get to know who you are and how you communicate.  This is your chance to just be yourself and let your personality shine.  So prepare yourself, rest up, and do what you can to remain calm and at ease on the big day.  Doing so will make sure that your experience doesn’t mirror Mark’s and that you make the accepted list! Wishing you great success with your interviews. 

• 3 of 4 students are employed in jobs that they would have been unable to obtain without their MBA degree;

• 82% of the Class of 2011 said that their post-MBA salary met or exceeded their expectations;

• Graduates recouped 1/3 of their cost after one year and 100% of the cost within four years;

• 2/3 of the Class of 2011 found positions within their intended industries;

•The wage gap between male and female MBA graduates is decidedly smaller than the wage gap between male and female non-graduates; and

• Alumni with a degree from a full-time MBA program earned a medium of $95,000 with additional annual compensation of $18,123.

These numbers illustrate an upbeat employment situation for post-MBA workers, but once published, dissent arose. Bloomberg Businessweek’s response took issue with the fact that, while the students may not have a vested interest in the success of the GMAC, the GMAC certainly has an interest in making sure that the numbers are positive. In addition, the article pointed out that, while the numbers taken alone may be positive, in comparison to years past, post-MBA salary has in fact fallen by 5.4% and that there was no proven methodology for how surveyed students determined if they had recouped their costs. With such controversy over the findings, what is a potential MBA student to believe? Does an MBA make sense for you in your future?

My answer to that is that it depends on your unique situation and goals. I would encourage you to consider all of the following while making this decision:

1. Will you be able to attend a top business school? Attending one of the top 57 schools has a significant impact on long-term earnings. In fact, a second Bloomberg article reported that “Overall, grads from the 57 top programs earned an estimated $2.4 million in base pay and bonuses over the course of a 20-year career.”

2. What are your true costs for obtaining a MBA degree? This calculation is yours alone, but must include salary and benefits lost during your time in the program, the program’s cost, and potential salary loss during the time following the program while you are job seeking.

3. In what industry are you hoping to work? The percentage of employed graduates varies by industry. Study results show that 40% of graduates went into the health care or pharmaceutical industries; 43% of those because of increased job opportunities.

4. Are you willing to accept an internship role following your degree program? The GMAC study indicated that average starting salary following an internship or work project was nearly $14,291 higher than those who did not find their jobs via internship or work project. The real truth about MBA ROI is that, while the MBA program is a significant investment in your future, its actual payoff will be uniquely personal. You, the candidate, must step back and evaluate for yourself what you anticipate the ROI will be. Don’t rely on statistics alone. Instead, carefully evaluate where you are today, what your future goals are (ie. What is the average salary for your dream job?), and what the true cost of a short-term break from the work force will be. And most importantly, consider whether the career you choose would be fulfilling and personally rewarding. That is something that money cannot compensate for.

Harvard offers a good example of the first type of interview, an “application drill down.”  Here, you must know your application inside and out, because you will be expected to map your answers back to what you’ve submitted earlier.  For instance, you may be asked questions like “What were your responsibilities as a Business Analyst at Morgan Stanley?”  or “You said that you gained leadership experience on your trip to South Africa, tell me more about that.”  To prepare, be sure that you are comfortable talking about each of the experiences that you’ve shared.  Also, make sure that when you do relay information about these experiences that you don’t give only facts and figures, but also convey your motivations and thought processes. Be prepared to also talk about new materials that you have not covered in your application.

The second type of interview is the “application-blind” interview. Most schools using this method focus primarily on your resume. Some schools like Wharton are shifting to more behavioral interview questions instead of simply asking you to walk them through your resume.  Here, you will be asked questions like “Tell me about a time when you had to work with a difficult person.” or “Give me an example of how you lead a team.”  The questions center around leading a team where you failed, experiencing conflict in a team and how you dealt with it, convincing others of a divergent opinion, and handling different personalities.  To prepare for such an interview, applicants need to spend time revisiting their personal and professional experiences and identifying solid stories that they can use to respond to these scenario questions. 

As a candidate, it is critical that you step back and determine which type of interview you will be facing.  Doing so will tell you what you must do in order to prepare and to be able to make the most of the face time that you have with the admissions committee member.

Given the handful of horror stories that I’ve heard from applicants about alumni interviewers, this trend is good news for MBA candidates!  They will no longer be up against unprepared (and sometimes even rude) alumni interviewers.  Trained admissions interviewers know to steer clear of any inappropriate questions too. And with the admission committee asking the questions, inquiries will be targeted to the specific candidate, making it much easier for applicants to let their personal brand shine through. 

With the increasing acceptance of Skype and other communication options, interviewing candidates remotely is now a truly viable option.  If fact, Wharton was one of the top schools highlighted in the article, so I suspect that other schools will follow suit in the near future.   

With that in mind, I would encourage you to check your Skype account.  Make sure your avatar is appropriate.  Ensure your speakers and mic are ready to go should you get the call.  And, even take time to complete mock-interviews via Skype and other remote connections so that you are comfortable communicating your brand through this medium.  As with any interview, in-person or remote, it’s best to be prepared and practiced!

Letters of recommendation are written references intended to offer college admission board members an objective, third-party view regarding your academic ability, work ethic and general character. And while you may think that this is a part of your application you have little control over, think again. Here are a few quick tips for handling the recommendation letters:

1. Pick wisely In all likelihood, you’re going to need at least two recommendation letters and selecting the right people to write them is a crucial step in the process.

It’s important to choose teachers who know you well, think highly of you and are capable writers. This combination will ensure that your achievements and personal attributes are presented in the best light possible. And, if you aren’t quite sure whom to ask, have a preliminary conversation with your teachers to see how each of them feels about your role in their classes and whether they are comfortable writing you strong recommendation letters. Surprisingly, your strongest recommendation letters may not necessarily come from the class that you performed the best in. It could come from that tough teacher who pushed you really hard throughout the year. This action on their part may be a result of the potential they see in you and hence their desire to stretch you beyond your comfort zone.

1. Start early If you are a college senior, you should already have asked all your teachers for recommendation letters before the start of your senior year. If you haven’t done so, approach your recommenders within the first week of fall semester. After you have gotten their verbal commitment to write you a supportive recommendation letter, you should then follow up with detailed instructions regarding required formats and deadlines as early as you can. Provide any necessary forms and addressed envelopes if they are sending physical forms on your behalf. If they are submitting them through the Common Application then be sure to complete the online section for recommendations so that your teachers receive an email with instructions for submitting their online recommendations on your behalf.  Giving your recommenders everything they need and as much time as possible to complete the task will ensure you get the most out of your request. Early planning will also keep you from facing rejection from teachers who find themselves bogged down with other students’ requests.
2. Provide input You may assume that once you’ve decided whom to make your letter request to that your work is done. But in fact, it’s only just begun. Remember that these letters are an opportunity to provide schools with insight into your achievements and personality in a way that might not otherwise be conveyed in your application. Provide your reference with your transcript, a detailed list of extracurricular activities and service contributions, copies of your essays and specific examples of your academic experience and impact in their class. Discuss these things, and any relevant future goals, with your recommenders to ensure that their letters are filled with concrete examples of how you have excelled and stretched yourself as well as your character and personality.
3. Check in Follow up with your recommendation writers two weeks before your letters are due. This will guarantee that your letters arrive at the appropriate schools before application deadlines and will eliminate the chances of any last minute, rushed writing. Checking in also gives you the opportunity to see if your recommender needs any additional information from you.
4. And lastly, give thanks Be sure to show your gratitude. Thank your recommenders after they have submitted their references. A hand written note is ideal. Once you’ve been admitted and have selected a school to attend, you can give your recommenders a small token gift to express your appreciation and let them know where you’ve decided to attend. 

Start by understanding why you didn’t get in the first time around. I wrote a piece for Poets and Quants on exactly this subject and encourage you to read it and consider which reason(s) may have resulted in receiving a rejection.

Next, craft a plan that will address the reason.  What can you do in your life to address the issue?  Does it mean stepping into a leadership role at work?  Or, re-thinking who you’ve chosen as recommenders? Maybe you need self-reflection time to better develop branded essays?  Whatever was missing the first time you applied, consider what changes must be made so that that does not get in your way when you next apply.  (Related: Laying the Groundwork for MBA Admissions.  Part1, Part2, Part3, Part4)

Remember, not making the cut the first time out does not mean that you’re not fit for a MBA program.  It simply means that you must step back, re-evaluate the way in which you went about applying, make whatever changes are necessary, and resubmit.  A MBA is in your future soon!