Deferred MBA Programs: Are They Worth It?
If you are currently pursuing a bachelor's or master's degree and plan to pursue an MBA in the future, a deferred MBA program may be an excellent option for you. But how do deferred MBA programs work, which schools offer them, and what are the benefits of applying?
What Are Deferred MBA Programs?
Unlike traditional MBA programs that are geared towards individuals with 2-5 years of work experience, deferred admissions programs are geared towards college seniors or master’s students. More specifically, they're looking for students who exemplify leadership, analytical abilities, and a promising career path. Deferred candidates apply during their last year of undergraduate or graduate study and, if admitted, their spot in the MBA program is held for 2-5 years. During the 2-5 years, candidates are expected to accumulate impactful work experience to share and reflect on later during the program.
Note that applicants who apply to deferred MBA programs and aren't admitted are strongly encouraged to apply later during regular admissions rounds. Schools appreciate your commitment and continued interest in their program. In other words, you have nothing to lose by applying!
Which Schools Offer Deferred MBA Programs?
Here is a list of a few deferred MBA programs:
Chicago Booth Scholars
CBS Deferred Enrollment
Haas Accelerated Access
HBS 2+2
IESE Young Talent Path
Kellogg Future Leaders
MIT Sloan MBA Early Admission
Stanford GSB Deferred Admission
Wharton MBA Advance Access
Yale SOM Silver Scholars
What Are the Benefits of Deferred MBA Programs?
Career Flexibility
The decision to pursue an MBA a few years into your career can be daunting, as many candidates worry the time and financial commitment may not be worth it. Deferred MBA programs allow for a more flexible approach. Most deferred programs will allow you to wait 2, 3, 4, or even 5 years before matriculating, giving you the flexibility to attend business school when it's best for your career. Also, if your career is progressing better than expected, you can decline your MBA offer.
Professional Development & Networking Opportunities
Even if you haven't taken an MBA class yet, the deferred admission offer on your resume will enhance your marketability. Also, many deferred MBA programs motivate their students to take advantage of exclusive networking events, professional development mentoring, and access to the alumni contact community.
Financial Security
Although the cost of an MBA program does not change whether you apply during deferred admissions or regular admissions, deferred MBA programs grant you time to plan how you will pay off any undergraduate debt and how you will save for business school.
This article compares the tuition fees for M7 programs, for reference.
Lower Stress In the Long-Run
There's no better time than now! If you're interested in pursuing an MBA in the future, it does not hurt your chances to apply to a deferred program. Completing the application and securing your spot early will ensure you can focus on building a strong network, exploring projects you're interested in, and propelling your career. When your colleagues are stressing about MBA applications in 2-4 years, you will thank yourself!
The flexibility of deferred MBA programs offers a unique set of benefits for both personal and professional growth. Applying can be a smart and strategic move for those looking to enhance their career trajectory and get ahead of the crowd.
Still debating whether a deferred MBA program is right for you? Schedule a free consultation with us! We're here to help sort out your career aspirations and get you into the graduate school of your dreams.
