Now that the Round 1 and Round 2 MBA submission deadlines have passed, you may be wondering if applying in Round 3 is worthwhile.
Business schools have a limited number of spots for incoming students each year, and they look to offer them to candidates who both are exceptional and bring diversity to the class. Round 3 gives schools the opportunity to fill those final few seats with stellar students who add something special to the class.
Here are some reasons to consider applying in Round 3:
Starting in the fall is a priority.
If you have a strong desire or even a NEED to start business school this year, then Round 3 (or even Round 4 for some schools) is your only option if you were rejected in Round 1 or Round 2. If you don’t apply, you have no chance of being admitted!
You have the time.
If you have time to put together a strong application, you don’t have much to lose. If you don’t get in, you can reapply in Round 1 next season and the work you put in now will give you a head start on your applications. Hopefully, you can use any feedback you receive to improve your profile.
Your GMAT/GRE scores, GPA, and experience are strong.
Top MBA programs such as NYU Stern, Michigan Ross, Dartmouth Tuck, INSEAD, and London Business School historically have higher admission rates in later rounds. If you have a very strong or unique profile, you may be a perfect fit for the spaces left to fill in the upcoming class.
Executive/part-time MBA programs or lower-ranked full-time programs are of interest.
The executive and part-time MBA programs tend to have a steadier flow of applications and fill their class openings throughout the summer. Some lower-ranked full-time programs have higher Round 3 acceptance rates as well.
You are in a unique situation.
MBA programs accommodate candidates with “exception” circumstances that may have prevented them from applying earlier, such as a military deployment, a sudden or unexpected shift in their career, or a visa issue. Don’t make excuses about why you are applying in Round 3. However, you may want to explain what kept you from submitting an application earlier in the application cycle. Perhaps you were wrapping up a client engagement. Or maybe unforeseen circumstances kept you from taking a standardized test and you weren’t able to get another test date until after the Round 2 deadlines.
You are excited about programs that offer test waivers.
If you aren’t satisfied with your standardized test score but can provide evidence of your ability to handle the rigor of an MBA program, keep in mind that plenty of MBA programs offer test waivers. And applying in Round 3 could accelerate your career trajectory since you would finish school a year earlier than if you had waited until Round 1.
To build a strong Round 3 application, keep these strategies in mind:
Pick the right schools.
The per-round acceptance rates for each school are very hard to come by and can vary widely year to year. Although admit rates generally drop from round to round, this is not always the case. Do your research and then try to match your school selections to the strength and diversity of your profile:
- Schools such as UNC Kenan-Flagler and Emory Goizueta (as well as several international schools) historically have acceptance rates around 25% to 35%.
- Some lower-ranked MBA programs increase their acceptance rates in later rounds if the quality of applicants improves—for example, as those initially rejected from such schools as Harvard, Stanford, and Wharton apply. If this is you, then you have a good shot!
Realize that the optional essay is your friend.
Admissions teams will be looking to understand why you waited to apply, and the optional essay is a perfect way to get personal and further showcase why you are a compelling candidate late in the application cycle. Perhaps you were planning to apply in the fall but your company went through a downsizing. Or maybe you work in an organization that has been adversely impacted by Department of Government Efficiency (DOGE) initiatives. There is no perfect reason for applying in a later round, but there are certainly more and less compelling reasons. If you can find yours, share it in the optional essay.
Stand out from the crowd.
Beyond ensuring your academic profile matches up with a school’s median GMAT or GRE score and average GPA, you should focus on crafting essays that tell a compelling story about your perfect fit for the program, explain how you would add value to the program and community, and outline why this program is the ideal next step for you to achieve your goals.
So, is it worth applying in Round 3? The answer is a definite “maybe.” If your goal is to get into a top school, then Round 1 is more than likely going to give you the best chance. If your goal is to be enrolled in an MBA program this September, then get to work for Round 3 by putting your best application forward (and have a Plan B, just in case!).
Not sure if it is worth applying in Round 3? Schedule a free consultation with a seasoned Stratus professional to discuss your profile.