I plan on applying to four schools (all M7) in the next R1 and R2. What's the ideal strategy? At first I thought applying to my top 2 schools in R2, to have practice with apps for the less desirable schools in R1. Also I've heard that the keeners apply in R1, making R2 less competitive for top schools. On the other hand, applying to my top 2 schools in R1 may save me the hassle and $ applying to additional schools if I am accepted to one of my top 2. Would I get the feedback in time before submitting R2 apps?

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CrushTheGMAT

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I plan on applying to four schools (all M7) in the next R1 and R2. What's the ideal strategy?

Would you attend a lesser ranked school (i.e. Duke, Ross, Darden) over M7 if they gave you a free ride (or half ride) and M7 didn't? If so, you should apply to a safety or two and see if they pony up some cash. $150k in debt is nothing to take lightly, and the class of 2012 should have a good economy to graduate into, meaning plenty of jobs for all schools.

I'd go after three schools in round 1. If you get rejected by all, 2nd round is all safety. If you get into one or more, you can either skip round 2, try to upgrade within M7, or go after some cash at a couple safeties. To do this, in round 1 you'll need to apply to schools that respond before the holidays (columbia, chicago, wharton, kellogg), and save MIT, HBS, or Stanford for round 2.

No, I'm really only interested in 4 of the M7 schools. If I don't get into one of those, it wouldn't be worth it to go to a lower-tier school and I would stay in investment banking.

Any idea of the scholarships offered? I know a fellowship at HBS that I am eligable for, which would make attending quite attractive. I don't think I would qualify for any of the need-based (I don't plan on using debt).

Also, with respect to different rounds, would some schools require you to accept prior to hearing back from other schools in a different round? ie. I you are accepted R1 to a school, will you have to decide before getting results from R2 and R3 back?

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btw, getting in around January helps a LOT with planning your year, deciding between schools, and quitting your jobs.

I wouldn't underestimate the value of applying R1.

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Also, with respect to different rounds, would some schools require you to accept prior to hearing back from other schools in a different round? ie. I you are accepted R1 to a school, will you have to decide before getting results from R2 and R3 back?

They can overlap like that. This year, Kellogg's R1 deposit due date was before HBS's R2 decision release date. You'll have to check the exact deadlines for next year when they're posted by the schools. Of course, you can always plunk down the deposit on the R1 school and later decline enrollment - you just lose the deposit.

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