Many of you may be wondering whether you should pull the trigger and apply to business school during round 2 this winter. Personal MBA Coach is here to help you make this difficult decision.
First, a few of the basics. While I have many applicants apply during round 1, for most schools there is no disadvantage of waiting until round 2. (There are some exceptions to this rule that I discuss with candidates on a case by case basis). Therefore, whether you waited until round 2 to enhance your profile, did not get your applications completed in time or just began considering an MBA, round 2 could be a great option for you.
Further, while many business schools have a third round, there are limited round 3 spots available. In fact, HBS eliminated its round 3 deadline this year unless you are applying for 2+2, their deferral offering. This means applying during round 2 is by far your best choice if you would like to enroll in business school during the fall of 2019!
Now, for the harder part! Is now the right time for you? Below are 4 signs it might be time for an MBA. If any of the following ring true (or you suspect they will in the next 6-12 months), consider pulling the trigger now!
1. You are ready to switch careers. Switching careers and writing your business school applications at the same time can be tricky. While it works for some to change industries or functions pre-MBA, post-MBA is a great time to switch careers for most applicants. In many ways, an MBA is the great equalizer and post-MBA students often start at a similar level to each other. If you want to switch careers, an MBA is a great place to start!
2. You have plateaued at work. Do you feel stuck at your current level? Do you need an MBA or advanced degree to reach the next step in your career? If you feel that you have learned all you can in your current role, not only will additional experience be less likely to help you, but it may limit your options. If you feel you are close to plateauing, it might be the time to apply.
3. You have 3-5 years of pre-MBA experience. The average applicant has approximately 5 years of pre-MBA experience at the time of enrollment. After 6+ years, your chances of admission begin to decrease slightly each year. However, do not worry if you are already there as we have many more experienced applicants who also get in. We can craft a story to explain your roles to date. That said, the longer you wait, the more likely it is that you will run out of time to give your dream school your best shot. Consider shooting for the stars, now!
4. It is a good time to become a student. Going back to school full-time is a major lifestyle change. Your own circumstance can be a big factor in this decision. Is your partner going back to school and it will be easier to study together? Perhaps personally you are looking to make a big move or change. If you saved up enough money and think that you will want a break in mid-2019, consider applying now.
Need one-on-one support with your MBA applications? Personal MBA Coach is willing to be your guide. Personal MBA Coach has been guiding candidates through all aspects of the MBA application process for 11 years with a 96% success rate. We also conduct mock interviews with our team of former top 10 MBA interviewers. Call us today at +1 617-645-2424 or email scott@personalmbacoach.com for a free consultation on your profile along with how we can help make your MBA dreams a reality!
