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Considering a Round 3 Application - Does it make sense?

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DRB5
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Considering a Round 3 Application - Does it make sense? [#permalink] New post   06 Feb 2017, 11:22
Hi All,

I gave my first attempt this weekend and scored 760 (Q50/V42). A lot of the credit goes to this forum and the amazing people and posts :) .

I am considering the option of submitting an application to schools for Round 3 as I am not comfortable with waiting for a year and joining in 2018. I had initially scheduled my exam for fall 2016, but fell sick and spent a bunch of time at the hospital, so things went off track and had to reschedule the exam.

I have about 5 years of experience in Financial Research, consulting and Business Development including a stint on a US Hedge fund as a Buy side analyst, followed by a couple of entrepreneurial ventures. 63% in Undergrad, but have loads of non academic activity to show for the low %. I am inclined to consider investing two/one years in an MBA only if I get an admit in a tier 1 college.

Based on what I have read, chances of getting a call in Round 3 are slim and trends are indicative of very less likelihood, now that puts me in two minds about applying now.
I would love to hear your thoughts, experiences and advice on this end. How would you rate the chances for a 760 score with my profile?


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Re: Considering a Round 3 Application - Does it make sense? [#permalink] New post   06 Feb 2017, 13:27
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Hi there,

Seriously nice job on the GMAT! Now the hard work begins :) So the truth about round 3 is that it’s very challenging, especially if you’re an international applicant (which I think you are?) Now you do have a compelling reason why you waited until round 3, which helps, but it’s still a wild card in terms of admissions chances. Based on the information you provided, it sounds like your profile is a bit of a mixed bag – great GMAT, below average GPA, great extra-curriculars, choppy work experience (although the details are what matter when it comes to your work experience). In my experience, round 3 acceptance at the top 10 schools is reserved for unique and/or truly exceptional candidates. It’s not to say that you don’t fit that bill – but the odds are tough. With that said, if round 1 next year is 100% off the table and it’s “round 3 or bust”, then you might as well apply to a few schools and see what happens. There’s minimal downside and you’ll never know until you try.

Alternatively, have you considered a couple of the European MBA programs? They tend to have higher acceptance rates in the later rounds on average. INSEAD also has a January intake that could be a good match for your timing. Or how about the Columbia J-Term program?

I hope this wasn’t too direct! If you’d like to chat through the specifics of your profile, I’ll be able to better advise you on round 3. Absent more details, I can only provide general feedback on overall round 3 outcomes and chances.

Best of luck to you either way!

Kindly,
Melody
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Re: Considering a Round 3 Application - Does it make sense? [#permalink] New post   07 Feb 2017, 05:21
VantagePointMelody wrote:
Hi there,

Seriously nice job on the GMAT! Now the hard work begins :) So the truth about round 3 is that it’s very challenging, especially if you’re an international applicant (which I think you are?) Now you do have a compelling reason why you waited until round 3, which helps, but it’s still a wild card in terms of admissions chances. Based on the information you provided, it sounds like your profile is a bit of a mixed bag – great GMAT, below average GPA, great extra-curriculars, choppy work experience (although the details are what matter when it comes to your work experience). In my experience, round 3 acceptance at the top 10 schools is reserved for unique and/or truly exceptional candidates. It’s not to say that you don’t fit that bill – but the odds are tough. With that said, if round 1 next year is 100% off the table and it’s “round 3 or bust”, then you might as well apply to a few schools and see what happens. There’s minimal downside and you’ll never know until you try.

Alternatively, have you considered a couple of the European MBA programs? They tend to have higher acceptance rates in the later rounds on average. INSEAD also has a January intake that could be a good match for your timing. Or how about the Columbia J-Term program?

I hope this wasn’t too direct! If you’d like to chat through the specifics of your profile, I’ll be able to better advise you on round 3. Absent more details, I can only provide general feedback on overall round 3 outcomes and chances.

Best of luck to you either way!

Kindly,
Melody



Thanks for your response Melody, it was very helpful. To answer a few of your questions - Yes I am in International Candidate (from India). Round 1 Next year is not 100% off the table, but is still something i'm not 100% comfortable with. I haven't considered INSEAD or Columbia so far, but will look into these schools. However, I would still want to try some of the Tier 1 schools in the US if I choose to apply for an MBA. Thank you once again for your help.
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Re: Considering a Round 3 Application - Does it make sense? [#permalink] New post   07 Feb 2017, 14:37
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DRB5 wrote:
Hi All,

I gave my first attempt this weekend and scored 760 (Q50/V42). A lot of the credit goes to this forum and the amazing people and posts :) .

I am considering the option of submitting an application to schools for Round 3 as I am not comfortable with waiting for a year and joining in 2018. I had initially scheduled my exam for fall 2016, but fell sick and spent a bunch of time at the hospital, so things went off track and had to reschedule the exam.

I have about 5 years of experience in Financial Research, consulting and Business Development including a stint on a US Hedge fund as a Buy side analyst, followed by a couple of entrepreneurial ventures. 63% in Undergrad, but have loads of non academic activity to show for the low %. I am inclined to consider investing two/one years in an MBA only if I get an admit in a tier 1 college.

Based on what I have read, chances of getting a call in Round 3 are slim and trends are indicative of very less likelihood, now that puts me in two minds about applying now.
I would love to hear your thoughts, experiences and advice on this end. How would you rate the chances for a 760 score with my profile?


Cheers


Basically: unless you HAVE to, wait till next year.
No matter how you turn it around, in Top US schools there will be very very few seats left, (say about 10-15%) and all of them are already potentially filled by people on waitlists. So unless it's HUGELY advantageous to you, it likely makes more sense to wait, even if you don't want to.

Best,
Jon
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Re: Considering a Round 3 Application - Does it make sense? [#permalink] New post   07 Feb 2017, 14:50
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DRB5 wrote:
VantagePointMelody wrote:
Hi there,

Seriously nice job on the GMAT! Now the hard work begins :) So the truth about round 3 is that it’s very challenging, especially if you’re an international applicant (which I think you are?) Now you do have a compelling reason why you waited until round 3, which helps, but it’s still a wild card in terms of admissions chances. Based on the information you provided, it sounds like your profile is a bit of a mixed bag – great GMAT, below average GPA, great extra-curriculars, choppy work experience (although the details are what matter when it comes to your work experience). In my experience, round 3 acceptance at the top 10 schools is reserved for unique and/or truly exceptional candidates. It’s not to say that you don’t fit that bill – but the odds are tough. With that said, if round 1 next year is 100% off the table and it’s “round 3 or bust”, then you might as well apply to a few schools and see what happens. There’s minimal downside and you’ll never know until you try.

Alternatively, have you considered a couple of the European MBA programs? They tend to have higher acceptance rates in the later rounds on average. INSEAD also has a January intake that could be a good match for your timing. Or how about the Columbia J-Term program?

I hope this wasn’t too direct! If you’d like to chat through the specifics of your profile, I’ll be able to better advise you on round 3. Absent more details, I can only provide general feedback on overall round 3 outcomes and chances.

Best of luck to you either way!

Kindly,
Melody



Thanks for your response Melody, it was very helpful. To answer a few of your questions - Yes I am in International Candidate (from India). Round 1 Next year is not 100% off the table, but is still something i'm not 100% comfortable with. I haven't considered INSEAD or Columbia so far, but will look into these schools. However, I would still want to try some of the Tier 1 schools in the US if I choose to apply for an MBA. Thank you once again for your help.


You're welcome! That sounds good. For what it's worth, Columbia is tier 1 :)
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Re: Considering a Round 3 Application - Does it make sense? [#permalink] New post   13 Feb 2017, 21:24
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Your 760 is a nice point to stand out in your profile but when applying R3 any red flags can really be challenging given the few spots that remain. So a top GMAT won't be enough to apply confidently. I would recommend identifying a few programs you are really excited about and taking a shot there in R3. If you are not admitted then I would consider R2 for these same schools or R1 for other schools of interest
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Re: Considering a Round 3 Application - Does it make sense? [#permalink] New post   03 Mar 2017, 10:43
VeritasPrepDozie wrote:
Your 760 is a nice point to stand out in your profile but when applying R3 any red flags can really be challenging given the few spots that remain. So a top GMAT won't be enough to apply confidently. I would recommend identifying a few programs you are really excited about and taking a shot there in R3. If you are not admitted then I would consider R2 for these same schools or R1 for other schools of interest



Hi Dozie, thanks for your suggestions. Sorry for the delay in responding, I missed your response notification and just chanced upon it. Your suggestion is a good way to proceed, and something I am leaning towards at the moment. I will keep you updated with my progress over the days.
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Re: Considering a Round 3 Application - Does it make sense? [#permalink] New post   04 Mar 2017, 10:22
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DRB5 wrote:
Hi All,
Here's what I suggest- and it is pretty much adding to the choir... first- congrats on a stellar score- a score that could get you in the running for some $$$ if you wait until next year R1.
I gave my first attempt this weekend and scored 760 (Q50/V42). A lot of the credit goes to this forum and the amazing people and posts :) .

I am considering the option of submitting an application to schools for Round 3 as I am not comfortable with waiting for a year and joining in 2018. I had initially scheduled my exam for fall 2016, but fell sick and spent a bunch of time at the hospital, so things went off track and had to reschedule the exam.

I have about 5 years of experience in Financial Research, consulting and Business Development including a stint on a US Hedge fund as a Buy side analyst, followed by a couple of entrepreneurial ventures. 63% in Undergrad, but have loads of non academic activity to show for the low %. I am inclined to consider investing two/one years in an MBA only if I get an admit in a tier 1 college.

Based on what I have read, chances of getting a call in Round 3 are slim and trends are indicative of very less likelihood, now that puts me in two minds about applying now.
I would love to hear your thoughts, experiences and advice on this end. How would you rate the chances for a 760 score with my profile?
For international students- if I read that right I think you are international- you have just about missed most of the deadlines for international students. So I would use this time instead to go deep... identify the top school choices you have... and go to webinars, chat rooms, reach out to current students and do your due diligence now. Know what each school offers in terms of clubs and labs and experiential learning and figure out about 6 schools that really interest you. If you can travel at all this spring to visit a program, now is the time to do it. You essentially want to have all your research done for schools by June. Then when they release the new questions (if there are any) you are ready to work on them over the summer. You submit R1 to 3 stretch and 3 target and also add 3 schools where you are likely to get a scholarship- and with the 760 if you can show good promotion and progress at work, I think you are in the running. I do think that a consultant can help you stick to this strategy and that if you apply wisely, you could get some serious $$ to help pay for your MBA. If you want to learn how we could help you do that, here is a link: https://stratusadmissionscounseling.com/ ... b-visitor/
So my answer is.... don't squander that 760 and let it go for bargain basement last minute deals, plan wisely and design a strategy to have great success in R1 this fall. And do the research now while students are in class to narrow down your ideal schools (and why they are ideal for YOU) and talk to students and alums so you can wow the school with not only your score, but also your knowledge of the program and why it makes sense for you! Good luck! I see a bright future for you!


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Re: Considering a Round 3 Application - Does it make sense? [#permalink]
04 Mar 2017, 10:22

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