The Latest on How Coronavirus is Affecting MBA Applications and the Resulting "Extra" Round
First, Personal MBA Coach would like to send our best wishes to you and your loved ones during this challenging time.
It is not often that I write twice within a month on the same topic. However, nothing is normal during this constantly evolving COVID-19 epidemic. In fact, a lot has changed just in the past few weeks.
Questions on canceled testing dates and campus visits have transitioned into topics of online testing, delayed application dates and “extra” admissions rounds.
Find out what has changed and how these changes affect MBA hopefuls:
As we shared last week, online testing is now available for the GRE and will soon be available for the GMAT. For many candidates, the option to take the exam in the comfort of your own home could be a good one. I encourage MBA hopefuls to consider where this option could be a good fit for you, especially now that many of you have extra time on your hands.
Many schools have delayed their application dates. Below is a chart listing the updated application deadlines for those schools that have extended their deadlines for class of 2022 hopefuls.
Round 3 (or 4) may now be a viable option for some candidates. Historically I discourage most candidates from applying during round 3. With few slots, later rounds traditionally have had very low acceptance rates. However, as I have discussed with Poets & Quants and some of my clients, the story is quite different this year.
Admissions directors at top schools have directly shared with me how they expect to have an unusual number of late cycle admits this year. They are taking this approach for a few reasons. First, a sizeable number of international candidates may be forced to defer if they are unable to secure visas in time to arrive on campuses this fall. In addition, after a few cycles with a decreasing or flat number of MBA applicants, admissions directors are hopeful that a softer economy will encourage strong candidates to apply.
As many top schools open their doors for candidates, round 3 (or 4) could be a great option for class of 2023 MBA hopefuls who have taken (or are able to complete) the GMAT/GRE this spring/early summer and are ready to start classes in September.
In addition, those candidates who did not fare as expected in round 1 or 2 might now have an opportunity to broaden their school lists during round 3. Finally, if your current or expected employment situation has suddenly changed due to economic conditions, beginning business school this fall may now be an attractive proposition for you.
As you weigh this option, keep in mind that the increasing number of deferrals combined with a weakened economy are likely to lead to an extremely competitive MBA 2020/2021 application cycle. Getting ahead of this could be a compelling option for some.
Wondering if round 3 is right for you? Need help pulling together your application strategy quickly? Personal MBA Coach is here to help. Founded by a Wharton and MIT graduate, we regularly help applicants navigate their applications each year. We also conduct mock interviews with former M7 interviewers on our team.
Personal MBA Coach has been guiding candidates through all aspects of the MBA application process for 13 years with a 96% success rate. Call us today at +1 617-645-2424 or email scott@personalmbacoach.com for a free consultation on your profile along with how we can help make your MBA dreams a reality!