“Should I target Round 1 or Round 2 MBA Application?”
Atul Jose (Admissions Consultant, F1GMAT): For those who don’t know, top full-time MBA programs have Round 1 deadlines in September and Round 2 deadlines in January. Typically, I get this question somewhere between July and August when the deadlines are near, and the client/reader is not fully ready with the deliverables. So here are 2 factors that you should consider:
1) Employer Sponsorship
A lot of top-performing management consultants get Employer Sponsorship for their MBA program. If you are one of them, Round 2 should be fine, but if you are not self-funded, or your family partially funds your MBA, you should apply to at least 50% of your target top 5 schools by Round 1.
Why 50%?
If you are from a competitive application pool, some of the strategies that you use for one m7 school might not work out for the other. You must be open to repositioning for Round 2 if a particular strategy didn’t work out in Round 1. This approach is much better than using one particular branding and narrative strategy for all your target schools, getting Dinged, losing a year, and then reapplying.
The biggest challenge for self-sponsored applicants is the amount you get in Fellowship or Scholarship. By Round 2, the competition would be much higher, and schools would not have many options but to reduce the amount offered. Also, the deadlines for many third-party scholarships/fellowships would pass by Round 2 or be extremely competitive by round 2 and round 3. From a funding perspective, it is always a good idea to apply by Round 1.
2) GMAT or GRE
Start with a full-length mock test for both GMAT and GRE without any preparation. This activity will save you a lot of heartache and time. Not everyone is good at taking the GMAT. GRE is now accepted across top MBA programs.
In the mock GMAT test, if your total score is in the 670 to 700 range without any preparation, you have a very good shot at crossing 730 with 1-2 months of preparation. But if your score is in the 600 to 650 range, there is a high likelihood that your score will not reach 700. And without a 700+ score, preferably a 730+ score, it is extremely challenging for someone from a Consulting, Finance, Accounting, or Technology background to get interview invites.
GRE is much easier if you have a good GPA. The format is straightforward. End of the day, you should think about what works for you and not be obsessed with GMAT. Having said that some applicants are really good at GMAT, and in a competitive pool, that could make a huge difference.
So pick your GMAT/GRE prep plan based on your mock test and then decide whether Round 1 or Round 2 is achievable. Allocate at least one month for your essays and recommendation letters.
If you need advice on planning for your MBA application, reach out to me, Atul Jose
