In the MBA admissions process, application rounds are windows of time during which you can submit your application materials, before the final deadline of a given round. Most business schools offer three MBA application rounds; some only offer two; others may have a deadline every month of the season. But, for the most part, business schools stagger applicants across three application rounds in order to build up the best, most diverse, and most qualified class possible.
Each of these application rounds offer different advantages—and disadvantages—to candidates. In this article, we’ll talk you through the rounds-based timeline for your MBA application, explaining the pros and cons of each stage and how to maximize your chances of success. We also touch on early rounds and how the admissions timelines, e.g. interview invites, decisions, can vary.
Understanding MBA Application Rounds
There are three main rounds for most MBA applications. The first, Round 1, will usually finish in the early fall (September/October); Round 2 early in the next year (January); and Round 3 in the spring (March/April). The exact deadlines will vary by school.
These rounds are common across MBA admissions, and exist in order to assist adcoms (admissions committees) with enrolling diverse, highly qualified, and committed applicants. Most (if not all) leading MBA programs use rounds these days, but the way that they treat the rounds varies quite a bit. Some schools run things on a rolling basis within each round (trickling out interview invites and then acceptances over the course of many weeks). Others keep things highly routinized within rounds – setting a specific date for all interview invitations to be released (along with rejections for those not making the interview cut), and a specific date for final decisions as well.
It’s important to note that acceptance rates and the availability of financial aid dwindle as the rounds progress from the first to the third. This is due to the fact that both class and scholarship spots become filled. It also goes without saying that the later the round, the less time applicants have between being admitted to their MBA program and starting their MBA program. This is particularly important for international students, who may need a confirmed spot on a program before beginning their visa application process. These students should therefore aim for earlier rounds where possible in order to leave plenty of time to complete this step (some schools will require international applicants to apply by Round 2).
In addition to these three rounds is an Early Action round. These offer candidates a chance to secure an MBA place before the main rounds begin—we’ll dive into this feature in more detail further on in this article.
Timeline for MBA Application: Overview
As described above, the final application deadline is dependent on the round in which you apply. For Round 1, deadlines occur in fall; for Round 2, in the new year; and for Round 3, in the spring.
No matter the round in which you are applying, there are milestones that you need to hit in the lead up to your deadline. These stretch back fairly far—according to U.S. News & World Report, the timeline for your MBA application should start a year in advance.
This early stage is the time to begin preparations for your standardized MBA entrance test. This may seem far in advance, but there are a few reasons behind it.
The first is obvious: the more prepared you are for the exam, the better you will do. The second is that GMAT and GRE scores tend to improve the more you take them, causing many MBA applicants to sit their tests more than once. Taking the exam six to nine months before the application deadline gives you the chance to retake twice, should you need or wish to.
The next milestone to hit is completing the remaining application documents and requirements. These include:
- Essay questions; which business schools usually release during the summer.
- Letters of recommendation;
- The application form.
Creating Your MBA Application Timeline
Ultimately, the perfect timeline for your MBA application depends on the deadlines of your target schools. Planning and completing these steps well in advance of the deadlines is crucial. Should a recommender take longer than expected to reply, or should you run out of time and rush an essay, you may risk pushing your application back to a later round.
Application Deadlines by School
To help you curate your MBA application timeline, you can have a look at Clear Admit’s compiled application deadlines by school:
For the Round 1 deadlines, you will notice that international business schools have slightly earlier deadlines than U.S.-based schools. International schools tend to set deadlines for August and September, compared to September and October in the U.S..
Less variation occurs in the Round 2 deadlines, as most schools have deadlines in December and January—with the exception of INSEAD and Michigan State Broad, which are in November.
Round 1: The Early Bird Advantage
Deadlines for MBA applications in Round 1 occur in the fall; typically between September and October.
Submitting an application in Round 1 can offer candidates several advantages.
First, success in this round means that you have secured your spot. You can either call it quits and enjoy the fact that you need apply no more; or, if buoyed by your success, you can try again in Round 2 with even higher targets.
Second, this round offers better chances of admission, since class spaces have not yet been assigned. The same applies to scholarships, which are the most available they will ever be in Round 1.
This is especially true if you belong to a group that is overrepresented in MBA applications. Overrepresented groups in MBA applications include candidates from consulting and finance backgrounds, as well as the two most overrepresented demographics—white males and Indian male engineers.
Admissions offices are attempting to craft diverse cohorts, and may admit only a certain number of candidates that are frequently overrepresented in MBA classrooms. If this is you, applying in Round 1 ensures you have less competition and are more likely to secure a spot.
There are, of course, some drawbacks to applying in Round 1 of MBA applications. The primary one is that it is the earliest round, meaning that candidates have less time to prepare their applications or perfect their test scores before applying.
With all these factors in mind, this round is most suitable for candidates who have already established excellent applications and possess very strong test scores.
Round 2: The Most Competitive Round
Round 2 MBA application deadlines occur in the new year, usually in January and February.
This second round has one very clear advantage over Round 1: it gives candidates several more months to prepare their applications. In this time, applicants can retake the GMAT or GRE, fine tune essays, and even gain more experience and responsibilities at work.
These advantages make Round 2 a popular choice for applicants. These incoming applicants are joined by those waitlisted in Round 1, meaning that many candidates jostle for space in this round. It can be the most competitive round; knowing whether it is right for you means balancing the pros of extra time with the cons of more competition.
Round 3: The Last-Minute Option
The final round of applications, Round 3, usually occurs around March or April. This varies by school, so be sure to check specific dates for your target programs.
By the time Round 3 rolls around, business schools will have filled most spots on their MBA programs. Almost all scholarships will have been allocated, and rejection rates in this round are high.
That said, admission in Round 3 is still possible—for very strong candidates, and those who offer something unique to their future cohort. It’s a good option for those who need extra time in order to perfect their applications, or for professionals who have made late decisions on whether or not to join the MBA program.
Early Decision & Rolling Admissions
Some MBA programs offer Early Decision rounds or use rolling admissions.
Early Decision (sometimes called Early Action) rounds occur before the Round 1 deadlines. Often admission in these rounds comes with a catch; schools may expect you to sign a binding agreement to enroll, to submit a deposit, or to withdraw your application from other schools. Duke Fuqua has one such program, “designed for MBA hopefuls who are convinced that Duke is their first choice.”
Applying in the early action round may boost your chances of admission to a top MBA program. This is therefore a useful application deadline for candidates who are certain of their target school.
Rolling admissions are the opposite of Early Decision rounds, in that they offer candidates a high degree of flexibility. Rolling admissions is the term used to describe business schools that review and respond to MBA applications as they come in, not on a set, rounds-based timeline. Instead, applicants can apply whenever they are ready—as long as they submit before the final deadline. The business school admits students in an ongoing process, meaning that the chances of admission are highest at the beginning of the application process.
These options differ greatly, and candidates should consider carefully which (if any) of them most closely fits their personal goals. U.S. News also notes that applying as part of an early action program reduces the possibility of negotiating over scholarships or other financial aid options.
Choosing the Right Round for You
To determine which round might be the best for you, try asking yourself some of the following questions:
- Is my GMAT or GRE score already in line with the expectations of my target school?
- How confident do I feel that my essays reflect my dedication and properly explain my career aspirations?
- Have I selected the best references possible, and are my recommendation letters complete?
- Is my background overrepresented in MBA applications?
- Do I need to apply for a visa in order to attend my MBA program?
- Am I awaiting a promotion or additional responsibilities at work that, when it arrives, may strengthen my application?
One common mistake made by many candidates when selecting an MBA application round is rushing. With chances of admission higher in earlier rounds, some MBA hopefuls believe that getting an application in as early as possible is the best way forward.
This is not the case. You should submit your application when it is as good as possible. If your application is strong and well-prepared, go for it in Round 1; if you need a little more time, delay until Round 2.
While waiting for the second round, you can apply to non-top-choice schools in the first round. This allows you to test the strength of your MBA application and improve it as you go along.
Whichever round you apply in, ensure that you take the time to create the best application that you possibly can. This means waiting for essay questions to be released before starting (since they can change year on year), choosing the best recommenders, and taking your standardized test as many times as possible. For the former of these points, the essay questions, you can also lean on Clear Admit’s annual Essay Topic Analyses.
Conclusion
Choosing the right MBA application round for you comes down to personal strategy. The ideal timeline for your MBA application depends on your personal readiness, factors in your employment, and the professional background from which you hail.
When crafting your application strategy, be sure to research the deadlines for your dream schools. Work backwards from these and set yourself milestones that need to be hit in order to meet these targets. And remember, starting early will always help you to be as prepared as possible.
