R1 Next Year vs. R2 This YearIt's that time of year when people face a significant decision - whether to apply for MBA B-schools in Round 2 this year or Round 1 next year. So, without further ado (time is precious, especially if you find this post relevant), let's delve into the specifics.
There are four key components to a B-school application, and you'll want to excel in each of them. Let's discuss these components considering Round 2 this year versus Round 1 next year:
1. Academics: Your prior academic record provides insight into your potential performance in business school. While this isn't a variable you can alter, there are ways to enhance this aspect. For instance, if your GPA is 3.2 or higher (or equivalent), you can confidently apply with your current stats. If not, enrolling in a quantitative course like HBS CoRe can showcase your academic readiness.
2. GMAT/GRE: This is a crucial factor in a business school application. It not only demonstrates your academic preparedness but also impacts the school's ranking. While some schools mention that GRE/GMAT scores aren't the sole determinant, instances of lower scores gaining admission to top business schools are infrequent. Visit your target school's website to review the 80% range of their GRE/GMAT scores. This provides a useful gauge, excluding outliers. You should also visit the
decision tracker to see the summary of GMAT/GRE schools by nationality. Additionally, business schools aim for a diverse class, considering nationality as a factor for GRE/GMAT scores, especially for countries with a substantial applicant pool. For instance, Indian and Chinese applicants often experience internal competition. If you feel your score is competitive, you might proceed with Round 2 applications. However, if you believe you can score higher, consider a retest. Switching from GRE to GMAT (or vice versa) could also yield better results. Ultimately, apply to B-schools only when you feel confident in your scores. Know your personal potential; a target score of 750 for one person might be another person's dream score. If your Quant score is below 47, consider enrolling in MBA Math for an edge.
3. Work Experience: The average work experience for enrolled students in most business schools is around 5 years at the start of the program. Remember, this is an average, and there are individuals with more or less experience. If you plan to apply in Round 2 this year and have 6 years or less of experience by the start date, but believe you can improve other aspects of your application, it may be worth taking a leap of faith. For instance, applying to M7 with a GMAT score of 710 and 6 years of experience might not be the best, but a GMAT score of 760 and 7 years of experience would certainly strengthen your application. Additionally, it's not just the number of years that matter. Do you have significant leadership experiences to share? If not, consider taking initiative at your workplace to build such stories for next year's Round 1 application. Are you expecting a promotion that could significantly bolster your profile? You might want to wait for next year's Round 1 application. If you think your recommender might struggle to write a compelling letter, it could be wise to hold off for next year.
4. Extra-curriculars: This is just as crucial to your application as any other component. It's wise not to overlook this. While participation in extra-curricular activities and volunteering should ideally come from a genuine interest, consider exploring opportunities to engage with your community and make a positive impact. This not only demonstrates your commitment to social responsibility but also enriches your overall profile. If all other aspects of your application are strong but you lack community contribution, consider dedicating a year to giving back.
With all this information, our goal is to assist you in determining whether you're better suited for Round 2 this year or Round 1 next year.
If you have any questions, please feel free to comment.
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