Round 1 vs. Round 2 vs. Round 3 MBA: Application + Deadlines

One of the most challenging aspects of applying to MBA programs is deciding on the round to submit your application.

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Ultimately, it comes down to what deadline will work best for you, given the amount of time you have available to assemble your application. This article will tell you everything you need to know about Round 1 vs. Round 2 MBA deadlines to help you determine the MBA application round that’s right for you while answering all your questions about when to apply.

When to Apply for Round 1, Round 2, and Round 3 MBA

One of the most challenging aspects of applying to MBA programs is deciding on the round to submit your application. Ultimately, it comes down to what deadline will work best for you, given the amount of time you have available to assemble your application. This article will tell you everything you need to know about Round 1 vs. Round 2 MBA deadlines to help you determine the MBA application round that’s right for you while answering all your questions about when to apply.

Round 1 MBA

There are a few advantages to applying in the first round. Applying in Round 1 demonstrates your organization, preparation, and commitment to the schools you apply to. Students who apply in Round 1 tend to be genuinely interested in the school. 

This makes for a solid first impression on the admissions committee members. Another advantage is that the admissions committee can only compare your application to others in Round 1. Since only about a third of MBA applicants apply in this first round, you are compared to significantly fewer people.

The admissions committees also aren’t pressed for time to make sure their incoming class is diverse and balanced, which is an obstacle you may run into if you were to apply for a later round. If you work in a field that tends to be overrepresented in MBA programs, such as private equity, management consulting, or engineering, applying in Round 1 is your best chance to be accepted.

Applying early will allow you to get your foot in the door ahead of other applicants in your field.

If you are not accepted in Round 1, you will still have an opportunity to improve your application and reapply in Round 2. You will also have time left to apply to other business schools. It’s also possible that you may be put on a waitlist if you aren’t as strong of an applicant compared to others.

You should apply in Round 1 if you have:

• A high standardized test score (GMAT or GRE)

• Lined up people who will write your letters of recommendation

• Enough time to create a robust application ahead of the deadline

If you have or can do these things, you are a strong candidate to apply in Round 1. Deadlines for first-round applications typically fall in September of the year before you wish to begin business school.

Round 2 MBA

Round 2 is when most people apply to MBA programs. Round 2 applicants also have more time to complete their applications than Round 1 applicants, which can help prepare a solid application. This additional time gives you the opportunity to work with your recommenders to strategize about the best approach to your letters of recommendation, polish your resume and cover letter, and even provide time to get application consulting from an expert.

Read how Inspira Futures helped James get accepted to his dream school:

The added time is beneficial to those with a lot on their plate who don’t have a lot of time to dedicate to the application, so they need to stretch out the application process over a few extra months. If your personal life and extracurricular activities require a lot of your time and attention on top of a full-time job, it may be best for you to apply in Round 2.

Another advantage to applying in Round 2 is the opportunity to retake a standardized test if you feel a couple of extra months to study will allow you to earn a higher score. You would also be able to sign up for GMAT prep or GRE prep tutoring with a business school graduate to improve your chances of getting a high score. 

The downside of applying in Round 2 is that business schools have already admitted the cream of the crop in Round 1. In the second round, they will look to make their incoming classes more diverse in terms of industries and ethnicities represented.

This makes it even more challenging to get in if you come from an industry that commonly pursues MBAs, like finance, consulting, and engineering. As a result, the additional time you take to complete your application must be used to make your application really stand out.

Read what Susan Hughes, a Senior Consultant at Inspira Futures, has to say about making your application unique and interesting to admissions committees:

“In terms of making yourself stand out versus other candidates who may have similar backgrounds to yourself,  I think it's important to remember that one of the most valuable parts of the process is what you do before you start writing your essays and before you start completing the application. At Inspira, we spend a long time talking to students about their backgrounds and figuring out how their stories could unfold in a really unique way in the application. So I encourage you to spend a lot  of time on introspection, looking back at your own life and your own experiences, and thinking about the things that are most impactful for you,  the things that are most resonant with your belief system, the things that you are most passionate about, and very often it's those things that if you study them carefully can draw out threads of real interest to an admissions committee.”

You will have significantly more competition if you apply in this round. Round 1 applicants only have to compete with each other, while Round 2 applicants have to compete against fellow Round 2 applicants and all Round 1 applicants.

As you can see, there are significant advantages and disadvantages to applying in Round 2. Some criteria to help you decide if this is the best round for you to apply include the following:

• Significant time-consuming priorities, including work, family, volunteer work, and hobbies

• The ability to raise your GRE or GMAT score with extra study time

Round 2 is the best option for you if you meet these criteria. MBA Round 2 deadlines are generally in December or January, but this varies significantly by the school. Hence, you must check with the schools you’re applying to and make a note of the exact deadlines for each.

Round 3 MBA

The least common time for business school hopefuls to apply is in Round 3. There’s less scholarship money and fewer spots available, which makes admission extra competitive. Competition is incredibly stiff at M7 schools because they receive thousands of applications in the first two rounds.

It can be best to wait until Round 1 of the following application cycle to reapply in some instances. Waiting will give you more time to make changes to your application documents to improve your chances of gaining admission the following year.

However, if you do want to apply in the third round, there are some factors to consider before applying, which include:

• Ensure your MBA profile is exceptional, including test scores, recommendations, essays, transcripts, and resumes.

• Be able to set yourself apart from anyone else the school has admitted so far. In the final round, admissions committees look to admit students who will further diversify their incoming class, including what a third-round applicant will add to the program.

• Consider applying abroad since schools have more spaces available in Round 3 to international applicants.

The Round 3 application deadlines are typically in March or April, but this will vary by school. If you plan to apply in Round 3, your application needs to shine a light on your skills, characteristics, and experiences. Your application needs to be exciting and intriguing to stand out for the admissions committee.

Which Round Should I Apply In?

The round you apply in depends on which of the criteria outlined in the previous sections applies to you. If you have thought about getting an MBA for a long time and have started preparing to apply, or you are a year or more away from when you want to apply, you are a solid Round 1 applicant.

Round 2 is best when you have many things on your plate and could use a few extra months to compile a robust application. If you want to raise your standardized test score, applying in Round 2 is your best option.

Round 3 is a wise choice if you did not get into the business schools you applied to in Round 1 or 2 and want to take one last shot at admission for the upcoming school year. If you only need a few minor revisions to your application, Round 3 is the way to go as long as you can establish yourself as a unique applicant with something unique to bring to the program.

FAQs

1. How Early Should I Begin Preparing My MBA Application?

Ideally, you should begin preparing your application at least one year before the deadline of the round you wish to apply to; for example, for Round 1 deadlines in September, you should begin your application the September prior.

2. Do I Absolutely Have to Apply in Round 1?

You do not have to rush into applying for Round 1 if you are not ready yet; taking more time to create your application guarantees that you present your best self to admissions committees.

3. When Is It Wiser to Apply in Round 2?

If you are pressed for time between your career, family life, and other commitments, then Round 2 is best. It may also be wiser to apply in Round 2 if you have not yet taken the GMAT or GRE, so you have more time for studying and any potential retakes.

4. Will I Still Be Considered for Admission If I Apply in Round 3?

You can still be considered for admission in Round 3, but your application will need to be truly extraordinary to clinch one of the remaining spots in the program; you must demonstrate your uniqueness and what different perspective, experience, or skill set you will bring to the program.

5. What Should I Do If I’m Waitlisted?

You have the option of applying to more schools in Round 3 or sending a letter of intent to your top choice to demonstrate your commitment to their program.

6. How Many MBA Programs Should I Apply To?

To give yourself the best chance of acceptance, it’s recommended to apply to between four and eight schools. 

Conclusion

Now that you know the difference between the 3 Rounds of MBA deadlines, you are ready to start planning your application based on the criteria you meet and the time available to you to prepare your application.

Round 1 applicants start the application process well ahead of the deadline and have all supporting documents ready to go by September. Round 2 applicants opt for this deadline because they need more time to complete all the required application components. Round 3 provides a final opportunity to apply for the upcoming academic year; this is especially beneficial to those who only have minor revisions to make to their existing application. However, if you have significant changes to make in your application, it may be best to wait until Round 1 of the following year to have enough time to make those changes and improve your odds of being accepted.

Everyone has different demands for their time, and as such, different people will benefit from an MBA deadline that reflects their time constraints. What is most important is that you take the time you need to bolster your application instead of rushing to submit it earlier; doing so can harm your chances of being accepted, so it’s better to take your time and apply at a later deadline.