UPDATE: This article was originally posted on January 24, 2019. It has been updated with new information and tips below. 

Deciding when to submit your MBA application is one of the most important strategic decisions you will need to make during the preparation process. 

For most schools, submitting your application as early as possible (especially for programs with “rolling admission” like Columbia Business School) is a clear advantage, though clicking “submit” before your application is at its strongest can lead to disaster. 

Some applicants, however, find that their applications are only ready in time for Round 3. 

Given the extra challenges this situation poses, we’ve rounded up our best tips and tricks to ensure that your Round 3 application is as successful as possible!

 

Where should you apply in Round 3

For applicants focusing on US schools, Round 3 may not be the best time to pursue your business school dream. Compared to Round 1 and Round 2, Round 3 acceptance rates are generally much lower, hovering between 0-2% for many top programs. 

However, this does not mean that Round 3 is impossible. 

There are programs, however, that do seem to be friendlier than others when it comes to Round 3 applicants. According to Poets & Quants, the top 5 best US programs for Round 3 applicants are:

1. UVA Darden
2. NYU Stern
3. Dartmouth Tuck
4. Yale SOM
5. Northwestern Kellogg

You can see the current list, courtesy of Poets & Quants, below:

What factors should you consider when applying in Round 3?

In general, our clients who have had the most success in Round 3 have been those who can show that mitigating circumstances prevented them from applying earlier and who cannot wait another year to start their studies. 

Reasons include military engagement, medical issues, and family crises. If you do decide to apply in Round 3 for a similar reason, make sure to include it in your application. 

Additionally, you should think if waiting will negatively impact you in any way. Last year, we worked with a client, Carolina, who had received company sponsorship for her MBA. There was a catch, however, as the sponsorship had an expiration date. Though she’d hoped her GMAT score of 670 would have been higher before applying, losing her sponsorship was too big a risk. 

To ensure her success, we added a few programs to her list and made sure to position her best examples as part of a coherent, powerful narrative. In the end, she was admitted to Kellogg’s 1 Year MBA program, one of her top choices!

 

European schools are an exception to the rule

Unlike most US schools, however, European schools often work with 4 rounds, rather than 3. 

When applying to INSEAD, for example, many of our applicants choose to apply in Round 3 and pass at the same rates as clients applying in Round 1 and Round 2. If you’re interested in Europe and feel your application is strongest in this round, don’t think twice! 

As such, when thinking about whether you should apply for Round 3, make sure you weigh the pros and cons of your decision to ensure what application strategy makes the most sense for you. 

If you are having trouble figuring this out, we would be delighted to work with you to develop a winning strategy that plays to your strengths and ensures you’re admitted at the best possible time. 

 

How Round 3 can impact your chances as a reapplicant

If you can’t point to any extenuating circumstances in your application, you may want to think about how applying in Round 3 would impact your chances as a reapplicant the following year. 

According to Brooke Baranzano, Associate Director of Admissions at Berkeley Haas, however, candidates shouldn’t be concerned, as applying in Round 3 and reapplying later shows you have a vested interest in attending their program.

Nonetheless, take care to ensure that you present a strong first impression when applying to the school and that you can demonstrate sufficient growth in your application between Round 3 and when you reapply in Round 1 of the next cycle. 

This was a conversation we recently had with our client Marina. She had some trouble getting her GMAT score on time to apply for Round 2 and was thinking about whether or not to apply in Round 2. When we discussed how much about her profile – aside from potentially having a higher score – would change between March/April and September, however, she realized that she wouldn’t have many new things to show. 

 

European schools are an exception to the rule

Unlike most US schools, European schools often work with 4 rounds, rather than 3. 

When applying to INSEAD, for example, many of our applicants choose to apply in Round 3 and pass at the same rates as clients applying in Round 1 and Round 2. If you’re interested in Europe and feel your application is strongest in this round, don’t think twice! 

 

Applying Round 3 may impact your financial planning

If receiving a scholarship is essential for you to be able to afford your MBA, applying in Round 3 offers a unique set of challenges. 

At US schools, it is very difficult to receive a scholarship in Round 3. Though, as Tuck makes clear, “We wouldn’t bother [with Round 3 applications] if it wasn’t worthwhile,” US schools do prioritize Rounds 1 and 2 to fill their classes. 

As such, the vast majority of scholarships are given out in these rounds, meaning there is little left over by the time Round 3 rolls around. Though you may be able to secure admission in Round 3, if attending a US school with a scholarship is essential for you, you may want to consider waiting for the next admissions cycle. 

European schools, however, still often have plenty of scholarships available for applicants in Round 3. In fact, our client Georgia was able to secure a €20,000 scholarship to INSEAD last year! 

As such, if scholarships are essential and you are determined to apply in Round 3, you may want to consider adding European business schools to the list, since you are much more likely to receive a scholarship. 

 

How to maximize your Round 3 chances

If you are determined to apply to business school in Round 3, the challenge of getting a spot at your top school is even greater than in other rounds. As such, we suggest you do the following things to maximize your chances of success! 

 

Choose the right schools

If you must get into an MBA program this year (and reapplying or waiting until Round 1 are not feasible options), you may want to widen your list of schools to include more than just top 10 programs. This late in the game, slightly lower-ranked programs will likely have more spots available in Round 3 than Wharton does, for example. 

As such, by expanding your list, you will ensure you have a greater chance of being accepted into at least one program. 

However, if you have only 1 or 2 programs you’re definitely interested in applying to, you’ll want to weigh the benefits of applying now versus applying in Round 1 of the next cycle. In general, your odds for Round 1 are much better than for Round 3, so consider your choice of when to apply carefully. 

 

Don’t rush

It’s quite easy to spot an essay that was written the night before the deadline. 

Considering the fact that most of the programs have very few spots left to fill, you want to make sure you overdeliver and this takes time. Make sure you set aside adequate time to create a thoughtful, well-constructed Round 3 application. 

 

Network with everyone

Reach out to everyone you can think of, including current students, alumni, and even admissions committee members. It’s important to find out everything you can about the school and use your connections to add as much value to your application as you can manage. 

 

Visit if you can

If you haven’t already had the chance to visit the school(s) you’re targeting in Round 3, you may want to plan a visit. This is important to reinforce that your Round 3 application is not a Hail Mary attempt, but is a carefully considered decision that reflects your belief that their program meets your personal and professional development needs. 

If you can’t visit the schools (something that has been especially difficult), make sure you attend webinars and other online events that present the school and its benefits to potential applicants. 

 

Emphasize what makes you unique

With nearly full classes, admissions committees are looking to further increase class diversity when examining Round 3 applications. As such, make sure you give special attention to the elements of your profile that set you apart from other applicants. 

TOP TIP: Though it’s essential to highlight what makes you different, you should still make sure the more “standard” parts of your application, such as your goals essay (if required), are bulletproof and contain airtight arguments. 

 

Share any relevant extenuating circumstances

Finally, if any relevant extenuating circumstances have prevented you from applying earlier, it’s a good idea to outline these reasons in an optional essay. For most clients, these types of reasons include the death of a family member, a serious health issue, military deployment, etc. 

In general, however, we do not suggest citing struggling with the GMAT as your reason for waiting. That’s because the GMAT is an integral part of the MBA application that every candidate needs to tackle, so struggling to obtain a good score in time is not particularly relevant overall. 

You will, however, want to use your optional essay to discuss your GMAT score if your best score is still low for your target school. 

 

Gain an advantage to get into an MBA in Round 3

Applying to business school can be challenging. 

There are thousands of choices and decisions you have to make along the way, and each greatly impacts your future. 

Applying to your target school in Round 3 is difficult, but definitely not impossible. Like anything in life, hard work and perseverance will pay off. 

That is why we are committed to going above and beyond for each and every one of our clients. 

We know that the process of applying to business school is so much more than writing an essay and sending an application fee. Any questions you have during the process—big or small—we are here to help you.

There is always a way to improve your application and prove to the admissions committee that you are an excellent candidate for their school. At Ellin Lolis Consulting, we are in the business of doing just that. 

If you’re planning to apply in Round 3 but aren’t quite sure how to sell your story, learn more about how working with us can help ensure you’re successful this year!