Top 5 Reasons You Should Start Your MBA Applications Early

Six WeeksAcross the board, MBA admissions officers recommend that you apply in the earliest round you can – as long as you’re submitting your best possible application. Particularly for candidates from overrepresented industries such as finance and consulting, later round applicants can be at a significant disadvantage. This means that you should begin working on your applications now, in time to submit the best application possible, as early as possible. Here are the top 5 reasons to start your MBA applications early and apply in Round 1:

1. Significant MBA school research is imperative to your success.

Schools are looking for candidates who’ve approached business school with a mature and thorough decision making process. In order to write impactful essays that also demonstrate fit, you will need to do more than check rankings and click through their website. Effective research often includes conversations with current students and recent alums, visiting campus and attending info sessions, or at least diving into comprehensive resources like the Veritas Prep Essential Guide to Top Business Schools. Lack of research leads to generic essays, which are not compelling to admissions officers.

2. Demonstrating “fit” is a more arduous process than you think. It takes time. You can recycle surprisingly little among different schools’ essay questions.

Every year, we see clients who expect that they can write essays for one application and simply strip out the name of one school and insert the name of another. This is especially tempting with the current trend in open ended questions. Rachel, a member of our Ultimate Admissions Committee and Head Consultant from Wharton, says “it’s more important than ever to consider the culture and environment of the school.” Admissions officers see thousands of essays every year, and they can spot a repurposed essay from a mile away. Applying to multiple schools takes time!

3. You won’t just identify and explain your weaknesses – you will work to improve them.

One of the first steps in working on your applications is evaluating every element of your profile. Are there any weak areas? Red flags? Leadership? Low GMAT score? Low undergraduate GPA? If you identify any areas which may be less than solid, when you start early, you can take steps to improve your weaknesses, rather than finding yourself in the unenviable position of trying to explain them in an optional essay. This might include tackling a new project with your volunteer organization, taking a calculus course from your local community college, or retaking the GMAT with the proper strategy to raise your score. There are numerous strategies to improve your application profile, and if you start on your applications now, you have time to implement them!

4. You will increase your chances of receiving financial aid awards and scholarships.

It is well known that schools operate with a limited budget – this means that there is more money to go around for financial aid, scholarships and awards, towards the beginning of the admissions season than there is towards the end. Why not allow yourself the highest possibility of receiving a financial reward?

5. It will allow you to avoid late application pitfalls.

In an exclusive Veritas Prep survey, we asked the top 30 MBA admissions officers to name the most common mistakes they see in MBA applications. Their #1 response: careless errors. Admissions officers view your application as a reflection of your commitment, so careless errors can doom your chances for admissions. However, let’s face it, most of us love to procrastinate! About 80% of MBA applications are submitted within three days of each deadline, most within 24 hours. These rushed, last-minute applications are often rife with careless errors – a missing comma here, an incorrect spelling of “they’re” there. By starting the process early, you and your Veritas Prep Head Consultant can craft your Personalized MBA Game Plan™, providing structure to the application process and ensuring there is plenty of time to catch careless mistakes and add the perfect polish before you hit “Submit.”

What you should be doing now?

Even before the schools release their updated essay prompts, you can work to significantly improve your applications by working with an expert MBA consultant to:

  • Identify the ideal programs for your personal and professional goals, even some you may not be currently considering.
  • Thoroughly research your target schools beyond rankings and school websites.
  • Discuss how to maximize the value of your campus visits, information sessions, and conversations with students and alumni.
  • Prepare your recommenders to write stellar letters on your behalf.
  • Craft your resume to emphasize accomplishments that will resonate with the admissions committee.

Secure your ideal MBA consultant now.

With the lowest client-to consultant ratio in the industry, Veritas Prep ensures your consultant is solely focused on your success. However, this also means that many of our consultants can get booked up early. We will ensure you work with a consultant who best fits with your personal and professional background, career goals, target schools, and working style so they can clearly understand your story and know how to best portray it to the admissions committee. As a First Mover, you’ll work with the ideal consultant for your needs so that your applications truly shine.

If you need help with any of the advice above contact us, we’d be happy to help.

Applying to business school? Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or sign up for a free consultation. As always, be sure to find us on FacebookYouTube, and Twitter.

How to Prepare For Your MBA as an Undergraduate Student

Make Studying FunAre you already considering pursuing an MBA as an undergraduate student? There is no better time to start thinking about a graduate education in business than while you are wrapping up your undergraduate education. This time in your life will afford you the most flexibility with regards to making the decisions that may successfully set you up for the rest of your business career.

The most important thing to keep in mind as you think through your business school strategy is to be flexible. Do not plan so rigidly that you are incapable of adapting to the natural shifts, changes and ad hoc opportunities that life offers. Be focused throughout your career journey, but make sure you are also affording yourself some flexibility.

Career Trajectory
Thinking through how best to achieve your future career goals, and if business school makes sense as a part of this, are natural first steps for most undergrads. Really think through whether or not pursuing an MBA is something you would eventually like to do, and if it will have the desired impact on your career.

I would caution, however, against pursuing career paths that you generally have little interest in simply to maximize your positioning for a top-tier MBA. College is an exploratory time where you should start to filter through industries and functions that excite you – the better you can narrow your career focus early on, the less wasted time you will ultimately have in your post-undergrad career.

Your GPA is one of few aspects of your profile that you really cannot alter or improve after graduation. So, while you’re still in undergrad, it is important to bank some equity in your future application with a high GPA. Don’t fall for the myth that your grades do not matter after undergrad once you enter the workforce – your GPA can follow you (positively or negatively) throughout your career.

Take the GMAT! Take the GMAT! Take the GMAT while you are still in undergrad! Commonly held wisdom suggest that if you are already in study mode as a student, it will be much easier for you to excel on this exam, so find some time to focus on your prepare early. Once you enter the working world, it is often difficult to find time to dedicate yourself to comprehensive GMAT prep.

Extra-Curricular Activities
College is also a great time to explore activities that interest you on campus. Aligning your passions with leadership and teamwork opportunities – be that in athletics, volunteering, or professional or social clubs – can really distinguish you as a future candidate. These experiences also provide great essay fodder and strong interpersonal anecdotes that definitely help differentiate applicants as a whole.

Take advantage of the tips above to get ahead of the curve as an undergraduate student so that you can breeze through your MBA application process in the future.

Applying to business school? Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or take our free MBA Admissions Profile Evaluation for personalized advice for your unique application situation! As always, be sure to find us on Facebook, YouTube, Google+ and Twitter.

Dozie A. is a Veritas Prep Head Consultant for the Kellogg School of Management at Northwestern University. His specialties include consulting, marketing, and low GPA/GMAT applicants. You can read more articles by him here.