While not always the case, it’s common for business schools to offer three application rounds for their full-time programs, even though there is usually only one start date for classes (typically in August or September). That means you could have three different deadlines to choose from when applying—generally in the fall, winter, and spring. Some people might feel compelled to turn in their application as soon as possible, while others may be tempted to use up all the time they’re given. But the right answer can vary from one person to another. 

As prospective students consider which deadline is the best choice, it’s important to understand the differences between application rounds and how they could affect your MBA ambitions. 

Why schools offer multiple application rounds

Having more than one application deadline can be beneficial for schools and students alike. From an administrative standpoint, offering multiple rounds allows admission committees to expect an influx of applications at certain points throughout the year instead of receiving a barrage all at once.

“It’s a way to manage the application and intake process,” says Naz Erenguc, director of admissions at the University of Florida’s Hough Graduate School of Business. But she also notes that the rounds are “a function of how people come to this decision at various times.” 

For example, the University of Florida offers three different application rounds for full-time MBA students.

Working professionals may not consider pursuing an MBA until after a deadline has already passed. By offering multiple rounds, schools give those candidates a chance to apply by the following deadline instead of having to wait for the next yearly admissions cycle. 

Round 1 vs. round 2 vs. round 3

There are several factors affecting whether you should apply in one round or another. While there is no end-all-be-all formula, striking the right balance is key.

Time

Time is money, or in this case, the more time you spend working on your application, the better chance you’ll have at getting accepted. This not only means becoming aware of your career goals but also individually crafting essays catered to each school and how you and your objectives will best fit. 

Moreover, don’t forget about your test scores. If yours are lower than average of admits to your dream school, may consider taking the exam again. 

Speaking of schools, have you toured all of your target destinations? Once you get on campus, you may realize one program was actually too good to be true—or maybe you simply don’t like the weather of the city you may have to live in for the next two years. 

If any of these points bring up flags, then maybe you should consider waiting a few more weeks and applying in the next application cycle. Putting in the time will help you get where you most want to be.

Application experience

If you’re not new to the MBA application rodeo—maybe you applied last cycle and didn’t get in—then applying in round one may play to your advantage. Some admissions counselors encourage newer students to wait for this very reason—round one simply may have candidates with more experience and refined applications.

Your school list

Figuring out when it’s crunch time to apply to business school also heavily depends on your target schools. If you’re set on attending an M7 school—like Wharton or Stanford—then paying close attention to admissions advice is important. However, if you are looking at lower ranked schools, especially, say those below the top 25, it may be easier to get accepted later in the cycle. These schools in general also have higher acceptance rates, so your odds may simply be greater.

The perks of early applications

Which round should you apply in to increase your chances of being accepted? The answer to that question may be less complicated than you realize.

“Typically, the sooner you apply the better,” says Chris Wszalek, former executive director of graduate admissions and student recruitment at Syracuse University’s Whitman School of Management. “The earlier you’re getting your application in—you’re potentially competing against fewer candidates. It just increases your opportunities for scholarships and admissions.”

In round one, schools are laying the foundation of the incoming cohort, so there are not only plenty of seats available but there’s also substantial financial aid to help defray costs. This is not a hard-and-fast rule, as Wszalek notes that schools will offer scholarships throughout each round. Still, he says, “generally every school will have more financial aid and scholarships available earlier than later.” 

There’s an additional benefit to applying early even if a candidate isn’t accepted: feedback. 

Erenguc says the University of Florida and some other programs will offer early applicants feedback, which candidates can then use to strengthen their application for the following cycle, or for a different school entirely. While that may seem like a small consolation prize after being rejected, Erenguc believes the feedback is mutually beneficial.

“If we can secure the right student that we feel will be a great ambassador for us for years to come, then we want to make sure we can work with that candidate so they have the best possible chance of securing their spot in the program,” Erenguc notes. “Applying early gives us the time to have that communication,” she says, adding that this option may not be so viable as the round three deadline approaches, when the class is “pretty much full.”

Great applications trump timely applications

While applying in round one or two has multiple advantages, rushing through an application in order to meet those early deadlines is most likely a mistake. Just because there are more seats available in the early rounds doesn’t mean the admissions committees will be more forgiving with their selections. In fact, quite the opposite may be true. 

“When we’re looking at candidates in round one, we can be choosier,” Erenguc says. “We expect if you’re going to be applying by round one that you have all your ducks in a row, to put that best foot forward.”

Wszalek agrees. “I think sometimes candidates get too focused on having to meet those first two rounds because there’s clearly an advantage,” he says. “But if you’re not going to be putting your best foot forward then it doesn’t matter which round you apply in.” 

Candidates should strive to submit the strongest application they can muster even if that may mean missing the round one deadline. For instance, if a student is debating between applying in round one with a mediocre test score or trying to improve his or her score for round two, Erenguc recommends the latter.

In fact, Caitlin Andersen—Auxilium Education—an admissions consulting firm—tells her student clients that round two or the middle rounds are the best to apply in. 

“The reason is because in round one, you’re getting a lot of people who may have just one school on their list, and so you’re competing against that—they’ve been preparing for more years, they’ve been ahead,” Andersen says.

Plus, applying just a little later gives more time to slow down and prepare a stronger application, she adds.

Even if you feel you do have all your materials in tip-top shape for your dream school and still don’t succeed in the first rounds, remember this: some students may have been applying for multiple years. Don’t be deterred by initial rejection.

Is applying during round three worth it?

Considering that most seats are claimed and most financial aid is awarded by the time round three arrives, you may wonder if you should just wait until the next cycle. Reach out to the admissions office to determine if the program looks negatively at reapplying, and if not, then there’s no harm in giving it another shot. It’s always possible that a spot could open up. 

“If ultimately you can only put your best foot forward by round three, that’s okay, but we have to be transparent about the fact that come round three, space is going to be more limited,” Erenguc notes. “Having said that, if you’re a fantastic fit we’ll always try to work with candidates in making space for them.”

The takeaway

The right round to click submit on your MBA application is different for every candidate. If you have high confidence in your application to one school in particular—meaning you’ve dedicated many thoughtful weeks or even months to refining your materials—then applying in round one can’t hurt. However, if you are new to the process, then taking extra time to apply during round two is good practice. 

If you wait until later in the process, it is possible that your chances to be admitted or receive scholarship funding may be less. That’s not to say that you shouldn’t apply if you are very eager to start your MBA. Like candidates, each application cycle is also different, so it is possible that your application is found to be especially striking by one particular admissions counselor and you get accepted. You may also want to consider looking at schools that have entry times other than the fall. Columbia Business School, for example, allows students who apply before June and August to enter in January.

At the same time, you should ground yourself in reality. Getting into a top MBA program is hard. Acceptance rates at some of the best schools may be less than 25%—or even less than 10%. Applying can also add up to be very expensive (with some fees in wards of $250), meaning you should spend precious time with each application, including essays, and cater it to your goals and interests.

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Frequently asked questions

Which round is best for an MBA application?

Applying early—meaning in rounds one or two—tends to increase your chances at being accepted into a competitive MBA program, experts say. That’s because there are simply more seats available, as well as scholarship dollars to go around, and admissions directors can be a little bit more open. However, at the same time, round one can be especially competitive due to holdovers from the last cycle who may have a better chance than completely new candidates.

Is it better to apply for round 1 or 2 for MBA?

If you are new to the MBA application process, taking the extra time to refine your application to submit in round two cannot hurt. If you applied the previous year and are back again, then submitting in round one can be a great way to get ahead of the process and prove yourself with a sharp application package.

Which exam is best for MBA admission?

Most MBA admissions teams accept either a GMAT or GRE score as part of one’s application cycle. While GMAT is catered specifically for business school, schools do not have a public preference over either exam. Among Harvard Business School’s class of 2025, 69% of applicants submitted GMAT scores and 34% submitted GRE scores (and some submitted both).

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