Scott Edinburgh
March 7, 2024

Is Now The Time to Apply to Business School?

Are you considering an MBA but unsure about when to apply? Personal MBA Coach is here to help! Below, we have shared 5 key signs that it is time to consider an MBA.

If one or more of the following rings true for you, now may very well be the time to start developing your applications! Believe it or not, even if you are thinking about submitting your applications during fall 2024, this is a great time to get the process started. In fact, Personal MBA Coach has already started working with round 1 2024 clients.

1. You already have 4-5 years of pre-MBA experience:

The average applicant for most schools has approximately 5 years of pre-MBA experience. Once you have 6+ years, your chances of acceptance begin to decrease slightly each year. Similarly, your odds of acceptance do not increase considerably between 4 and 5 years unless your role significantly changes. You should also consider the possibility that you may not be accepted the first time you apply. The longer you wait now, the more likely that you could run out of time to give your dream school one more shot by reapplying. At this stage in your career, there are few compelling reasons to wait.

2. You have reached a plateau at work:

Have you stretched yourself as much as possible in your current role? Are you bored at work and feel that you have learned all you can in your current role? MBAs open entirely new horizons through coursework, interactions with peers, new experiences and networks. If you feel you are close to plateauing, now might be the time to apply.

3. You are ready to switch careers:

Switching careers while writing your business school applications can be tricky. While it works for some to change industries or functions pre-MBA, for most people post-MBA is a better time to switch. But if you know you want to move from banking to consulting or consulting to product management, why wait? In many ways the MBA is the great equalizer, and post-MBA students often start at a similar level to each other. If this is you, think about applying today. Be sure to check out Personal MBA Coach’s 6 tips for Career Changers.

4. You are worried about your job security:

Though total layoffs have slowed in the last year, layoff rates in many industries remain high. If you are worried about your own job security, business school can be a great place to ride out a shaky economy.

5. Your personal situation favors the MBA choice:

Do you want a break from work? Is your partner going back to school, and it will be easier to study together? Going back to school full time is a major lifestyle change, and your personal circumstance should be a key factor in your decision on when to apply. If your circumstances feel right, consider it fortuitous.

If some or all of these situations apply to you, now is the perfect time to get started on your MBA application. Ready to dive in? Find out how Personal MBA Coach can guide you on the path to your dream school with our Comprehensive Packages!

Want to learn more about our services? Watch this short testimonial to find out how Personal MBA Coach helped this client from a consulting background get into Wharton.