The Case for Deferred MBA Admissions
“Reserve your MBA spot now, join later”
Sounds Perfect, right? How idealistic it would be if every MBA aspirant could reserve a spot in an esteemed MBA program while they continued to complete their undergrad education. This scenario is a reality thanks to the deferred MBA option offered by several top ranking MBAs. The deferred MBA formats have been around for quite some time, but they have recently caught the fancy of many more b-schools as a way of attracting promising college students and locking them in to join their MBA programs at a later date.
What exactly are Deferred MBA Programs?
These programs allow college seniors to apply for an MBA even before they graduate from college. If selected, candidates are mandated to work for two to five years before they join the MBA class. During this period, business schools provide the candidates the support and guidance they need to shape their careers.
How and who do Deferred MBA Programs help?
These can have several advantages for students and b-schools alike.
Deferred MBA students have the unparalleled advantage of gaining admission at a premier b-school even before they graduate. The timing is optimal – once employed it can be excruciating for graduates to take time out for GMAT or GRE and write multiple applications while managing a busy work-load. An admit before one graduates and dives into the rigors of a work-life can, therefore, be a logistical blessing.
Another benefit- the standardized tests will be less daunting while students are already in the exam-taking mode. For students studying quant heavy subjects in undergrad, the GMAT quant can be a lesser demon to destroy than if they plan the GMAT 3-5 years later.
If admitted into a deferred program, students no longer have to agonize about the intensely competitive MBA admissions. If they get dinged, they still have nothing to lose. They can start a job after college and apply for an MBA a few years later, having become wiser from their first application experience.
Having a guaranteed MBA admit provides big security to explore careers– this is by far the biggest advantage of a deferred MBA. With the pressure of building an “MBA profile” taken away, college grads can explore career paths, take risks and shape their careers the way they genuinely want to. Better still, they can access the b-school’s resources – specifically the career development centre, to get invaluable career advice. Most programs also designate an admissions counselor to mentor students.
B-schools open up other resources as well. Through the deferment period, students become part of the b-school community with access to the student and alumni network, and the opportunity to attend events and conferences. They also have a head start in build relationships with other deferred admits, some of whom would eventually join their cohorts. Lastly, having an email address with a “@business-school” ending can open several doors among recruiters.
B-schools realize that at the time of the deferred application, applicants don’t have the desired work experience, maybe only a few internships. They are investing in the future potential of an applicant with the knowledge that applicants will evolve as they gain work experience. Some of these applicants are stellar already, and giving them early admits gives b-schools the chance to build their best MBA class.
What do b-schools look for in Applicants?
The rules aren’t any different here when compared to a regular full-time applicant. You should be spectacular. B-schools are competitive places and MBA students are contributing members to the entire MBA experience, so having the smarts is a reasonable expectation. Specific criteria include – stellar academics, leadership in extra-curricular activities, impactful internships. Also, a spark to explore the unexplored and a passion for making a difference in the world. With no work experience to boast of, this last point can be the real differentiator for being selected.
When can one apply?
Most of the deferred MBA applications are in April every year. We will recommend you check your target programs’ websites for specific dates as well as for specific b-school requirements. While the requirements largely remain the same from program to program, its best to not guess and know exactly what the b-school wants in the application form so that you can get all the documentation needed on time.
So, which are the b-schools that offer Deferred MBA admissions?
In the USA: Harvard Business School, Yale, Stanford, Wharton, Columbia Business School, Booth, Kellogg, Darden, Stern, Emory, Carlson & Rutgers
In the UK and Europe: IESE
In Asia: ISB
B-schools across continents offer deferred MBA admission programs. We have attempted to cover all of them. To make for easy reading, we have split our blog on Deferred Admissions into a three-part series. In the first part, we have given our readers insight into what the deferred admission is all about. The second part of the series covers the deferred MBA programs in the US and the third part covers the programs in Europe and India.