MBA Application Rounds Explained

Key takeaways

• Unlike most graduate programs, MBAs have several application rounds throughout the year.
• Understanding how the round system works and which round is best to apply in could boost your chances of being accepted.
• Although it’s generally best to apply as early as possible, in some cases you may be better off applying later in the process.

Applying to an MBA program is a little like completing an obstacle course. From getting a great GMAT exam score to acing your admissions interview, you’ll have to clear a lot of hurdles on the way to your dream MBA – and deciding when to apply is one of them.

While many graduate programs have a single application deadline, most MBA programs have three (or occasionally four) application rounds.

When planning your MBA application – and especially if you’re applying internationally or want to increase your chances of getting a scholarship – you’ll need to understand how the MBA application round system works.

What are MBA application rounds?

The MBA application cycle is typically divided into several rounds with different deadlines. Business school admissions teams assess applications and accept students into the MBA class after each round.

Round 1 usually finishes in the fall, round 2 in the New Year, and round 3 in spring. Every school will have different deadlines, and some may differ quite dramatically from the rest, so make sure that you check the deadlines carefully for the schools you want to target.

To get a more detailed overview, you can download the free MBA Application Guide. Inside, you’ll find exclusive, step-by-step guidance to a successful MBA application.

Why do business schools use multiple MBA rounds?

An admissions team isn’t just responsible for choosing candidates who are qualified for an MBA program. It’s also their job to assemble a well-rounded cohort with a good blend of experience and expertise. Staggering MBA application rounds helps this curation process.

“When I was dean of graduate admissions, we would compare historical data to the current round to gauge both the demand for our programs and how the qualifications and demographics of the new group compares to the previous ones,” explains Petia Whitmore, founder of My MBA Path and former admissions dean at Babson College’s F.W. Olin Graduate School of Business.

This also helps admissions teams make strategic decisions, for instance when allocating scholarships and financial aid.

What are the advantages of applying in round 1?

The consensus around MBA application rounds is that it is best to apply as early as possible. “Applying in round 1 does come with increased odds of admissions, all else being equal,” admits Petia.
This is because in round 1, all seats in the class are up for grabs, and none of the scholarship budget has yet been awarded. If you make a convincing case now, an admissions team is more likely to be open to it.

“Admissions officers are risk averse,” says David White of Menlo Coaching. “They are unlikely to decline an ‘A’ candidate in round 1 just to save a seat for a hypothetical ‘A+’ candidate they hope to see in round 2.”

✔ Free Guide: Full-Time MBA Application Guide

Remember that diversity is an important factor in MBA admissions, too. If your profile is likely to be over-represented in the applicant pool, waiting until rounds 2 or 3 could mean missing out on a spot as the class reaches its capacity for similar candidates (who may have a similar work background or come from the same region as you).

Also, for international students who need to sort visas and accommodation in a new country, it makes sense to apply to your target MBA programs as early as possible.

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When should you apply in round 2?

While a round 1 application can be advantageous for some, the other MBA application rounds are there for a reason. David says that in some cases, it may be worth waiting until round 2 to submit an application.

“If waiting until round 2 means you can raise your GMAT score or win a promotion at work, it is almost always worth waiting.”

If your application isn’t quite ready when the round 1 deadline comes around, don’t rush things. Take the time to perfect your application and apply in round 2 instead.

Should you apply in round 3?

So, is there ever a reason to apply in round 3? Barbara Coward, MBA admissions consultant and a LinkedIn Top 10 Voice for Education in 2020, thinks there is.

“Admissions officers say that you should apply when you are ready and I’ve had clients who have been accepted in the last round, including a current MBA student at Wharton,” she says.
If waiting until round 3 to apply means you can put forward a truly stellar application, then it’s worth it, but you will need to think carefully about how you position yourself.

“Ask yourself one question: How will I add value to the cohort?” Barbara says. “The admissions office has built a pretty diverse cohort [by now]. How would you add to that academic, professional, and/or geographic diversity?”

For this reason, you probably have the best chance of being accepted in round 3 if you have a non-traditional MBA work background or come from an underrepresented region. It might be worth checking the class profile of your target program to see which regions are typically underrepresented.

Early acceptance and rolling admissions

You may come across MBA programs that offer Early Action rounds or rolling admissions. 

For example, Duke University’s Fuqua School of Business has an Early Decision period ahead of its round 1 deadline. According to Petia, these work a little differently to normal application rounds.
“If admitted [in the Early Decision round], the school will expect a much stronger commitment such as signing a binding agreement or withdrawing your applications to other schools in addition to submitting your enrolment deposit,” she explains.. This could be ideal if you have a high degree of clarity about your goals and your target programs, but alternatively you may prefer to keep your options open.

On the other hand, rolling admissions is all about flexibility. Columbia Business School uses a rolling admissions process, whereby applications are reviewed and accepted throughout the year (rather than in separate rounds).

Rolling admissions allows you to take your time and apply when you are ready. However, since applications are accepted throughout the year, there’s still a good chance that the class will fill up sooner rather than later. For that reason, our original piece of advice still holds firm: apply as early as possible.

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MBA application rounds: 3 key takeaways

When considering which MBA application round to apply in, follow this three-step approach:

1. Apply as early as possible. This is particularly important if you are from a competitive segment of the applicant pool (e.g. lower GMAT score or a more traditional MBA background), want a scholarship, or are an international student.
2. Consider applying to all your target schools in the same round. By getting all of your offers around the same time, you put yourself in a stronger position to make the best decision and even negotiate financial aid packages.
3. Don’t rush. While you should aim to apply early, that doesn’t mean you should sacrifice the quality of your application. Whether you’re applying in the first round or the last, an MBA admissions team will be able to spot a hastily-put-together application. Make sure your application does you and your experience justice.

Now that you know more about MBA application rounds, you can get your application materials together – GMAT, resume, application essays, and recommendation letters – and tailor your application to your target schools to stand the best chance of acceptance.