In recent years, we’ve seen an increase in business schools’ offering Deferred MBA programs. This enables them to secure attractive candidates and cultivate their development prior to commencing the program. Thus far, only ten of the top-20 MBA programs offer the deferred option, namely Harvard, Stanford, Wharton, Booth, Kellogg, MIT Sloan, Yale SOM, Columbia Business School, Darden, and Tepper. Each program offers a slight variation from the traditional deferred MBA, and students interested in it should delve deeper into the specific schools’ offerings and requirements to make the right selection.
Typically, the deferred MBA allows students with no prior full-time professional experience to secure a seat at a coveted MBA program. Students in their senior year of university or master’s students in their final year of study can apply to secure a seat 2-5 years in advance of their MBA program's start date. During this time, most programs provide resources and a network that students can leverage to make bold moves in their careers that enable them to gain broader experiences and be more well-rounded professionals. The deferred program is particularly attractive for those joining industries with little representation in business schools or those seeking to be in the start-up space before commencing an MBA.
To secure a seat at a deferred MBA program, business schools consider several elements of a candidate’s profile. Our Sia Admissions clients have been able to secure seats at these coveted institutions by focusing on at least these main four (4) criteria:
Metrics
While the traditional 2-year MBA programs are competitive, gaining admission to a deferred MBA is substantially more challenging. Let’s take Harvard Business School (HBS) as an example. HBS boasts an admission rate for its 2-year MBA program at 10.3%, while the 2+2 program (HBS’ deferred MBA) has an 8% admission rate. The prestige of these top programs means that they can accept the best of the best – students with exceptional academics and GMAT/GRE scores, unique life experiences, and impressive achievements. Therefore, to have a chance at being considered for a deferred MBA, academic success and strong GMAT/GRE scores are table stakes.
Engagement
Though a deferred applicant does not have any prior full-time work experience, it does not mean that an applicant is competitive without any prior engagements. The schools will evaluate a candidate’s impact and future potential based on their engagements in their community, whether that’s extracurriculars or the community beyond academia. Typically, a successful candidate will also leverage their alma mater’s professional clubs to build experience and demonstrate impact. While engagement beyond a candidate’s academic setting is not required, the greater the impact and wider the scope, the higher the probability of gaining admission in this competitive pool.
Goals
Like a traditional MBA candidate, a successful deferred applicant clearly articulates why they need to secure an MBA at this point in their career. These ambitious goals typically require taking professional risks before commencing an MBA, a move many are not comfortable making before securing a seat at their desired MBA program. This means that the typical Consulting or IB candidates who do not intend to change career before joining an MBA program may not be the ideal candidate for this program, given that the traditional MBA program sees many such profiles.
Job
By the application deadline (typically in April), candidates must have secured a position following their undergraduate or graduate studies. The b-schools are seeking ambitious, mission-driven candidates who are continuously looking for ways to develop professionally and plan several steps ahead. Therefore, if you are considering a deferred MBA for the 2021-2022 application cycle and have not yet secured your job, take note that this is a crucial step in your admission success.
This article first appeared on GMAT Club