Applying to an MBA Program: Round 1 vs. Round 2

There are usually three application rounds for MBA programs. Which one fits you? What are the pros and cons?The rule of thumb is to apply to the earliest round, so long as you don’t compromise the quality of your application. This means you want an optimal GMAT/GRE score, solid recommendation letters, thoughtful and well-crafted essays, and a history of achieving important milestones such as a promotion or a key achievement.When you apply to Round 1, there is a blank slate for everyone. At this point, no one has been admitted yet. There is a smaller pool of applicants, more available seats, and no overrepresentation of any particular profile. And if you are declined from a particular school during Round 1, you still have time to apply to others during Round 2.Although Round 1 applicants tend to be the most well-prepared high achievers, admissions officers expect a wide range of profiles every year. Even if you have a below-average GMAT score or come from a nontraditional business career, that doesn’t mean you should wait to apply to Round 2. Hold off if and only if you believe that by waiting you can improve the quality of your application.When it comes to Round 2 vs. Round 3, Round 2 clearly holds the advantage. There is a smaller percentage of admits from Round 3 simply because the majority of seats have already been offered.If you are an international applicant, DO NOT wait for Round 3. The visa process can take a long time and that might play against you.Round 3 admits tend to be very unique people who have a compelling reason to apply so late in the game. Their profiles add color to the overall MBA class.But the bottom line is that quality trumps haste. Craft your application to be of the highest quality possible.