What is Deferred MBA?
The majority of MBA schools require applicants to have some level of professional experience. to cater to a younger audience, several top B-schools offer a deferred admissions process for their MBA program, the deferred MBA.
Deferred MBA is the only short-cut for current students, either in college or a full time masters degree program, to apply to full time MBA programs. Students get an opportunity to be accepted in a future class of the flagship MBA programs. Students get an opportunity to be accepted in a future class of the flagship MBA programs before they accumulate the work experience required. However, they start the program only after having gained the work experience required by the school (often 2 years).
This precisely means, the deferred MBA candidates would be in class with much experienced candidates (avg 5 years), and be subject to equal and limitless opportunities and a vast global network early on in their career, at a very young age. An opportunity that guarantees a minimal risk and high reward.
The first step towards walking down the most decorated MBA path is figuring out why you need an MBA- A Global MBA specifically? Broadly speaking - An MBA can enhance your marketability as a professional and increase the quality and quantity of job opportunities globally. An MBA also helps you build business leadership skills, as well as a global professional network. But, quantifying the impact of an MBA- a monthly remuneration of $160K-$250K+ is what you are looking at. One of our Kellogg MBA students bagged a $310K offer as well!
The Opportunities, exposure and value addition that follow MBA is absolutely unparalleled, and it' s often said- the sky is the limit for them. Will your role offer any such benefits? Where will you stand in the hierarchy in your organization? How much value do you think you will add to the system and society? Do you wish to add more value than Sundar Pichai- CEO Google (Wharton Business School) or Sheryl Sandberg- COO Facebook (Harvard Business School) or Satya Nadella-CEO Microsoft (Chicago Booth #1 B-School US Rankings 2022) or Tim Cook, CEO Apple (MBA Duke Fuqua University) and the list goes on.
SO ASK YOURSELF:
Will your role offer any such benefits?
Where will you stand in the hierarchy in your organization?
How much value do you think you will add to the system and society? Do you wish to add more value than Sundar Pichai- CEO Google (Wharton Business School) or Sheryl Sandberg- COO Facebook (Harvard Business School) or Satya Nadella-CEO Microsoft (Chicago Booth #1 B-School US Rankings 2022) or Tim Cook, CEO Apple (MBA Duke Fuqua University) and the list goes on.
MBA from the most coveted global Business schools may or may not have a direct relationship with reaching the TOP of the professional ladder; becoming future leaders does not necessarily have to do with B-School, but Business school certainly makes the enormous task much easier. The life and opportunities that follow B-School is absolutely limitless. It’s the life only the TOP 1% of world get to live, the rest 99% are either scared to dream or comprehend the possibilities till the end of time.
So you need to ask yourself and decide, where do you belong or where would you like to be? The TOP 1% or the 99th- dreaming, comprehending, often planning and even starting but never reaching the goal? Not that your life is miserable but is it the best it can ever be?
Once you have successfully answered the above questions, and your answer is you see your self in the TOP 1%, the next question you should be answering is how badly do you want this? How soon do you want this? How hard are you willing to work towards what I call the best investment of your life in terms of time and money; the best materialistic present you can ever give yourself (often free! Full tuition fee waivers are not a rare sight with students at TOP)
If you are determined, and hard-working, with the right guidance and support, your 'Dream School' dream can also come true.
What Do You Need?
Research, Research, Research!!! Once you have figured out MBA is what you need and want. Why still? The next step is to figure out:
If the financial investment is worth the risk?
Is a Full time program worth giving up on your mediocre (compared to post MBA opportunities) yet well cushioned safety net-your current role?
Also, try to identify potential matches for yourself in terms of Business schools. Aim to precisely put a name and define your dream- Harvard, Yale, Darden, Wharton; could be any or could be many!
Let's take a look at the top Deferred MBA Programs:
Harvard Business School 2+2
Stanford GSB Deferred Admission
Wharton MBA Advance Access Program
Yale SOM Silver Scholars Program
Chicago Booth Scholars Program
Darden Future Year Admissions
MIT-Sloan MBA Early Admission Program
Columbia Business School Deferred Enrolment Program
Indian School of Business Young Leaders Program
What does it take to secure a Deferred MBA Admit?
What does it take to get into most esteemed business schools with the lowest acceptance rates in the world?
What are the schools looking for in a candidate ?
What are the varied parameters taken into account?
How can any candidate pivot to such esteemed programs?
Can an average (so called) student aim for a Harvard?
We are here to answer your queries:-
The Global Business schools are in constant search of leaders that would shape the future, future Business leaders. An admit into Deferred MBA , might as well be a lucrative, accelerated growth and minimal loss opportunity for the candidate ' s, but could be a risk for the schools inviting comparatively inexperienced professionals (not full time work ex) into the programs. How do the schools assess the applicants without the typical work experience?
They assess candidates holistically, they look for all-rounders.
COMPONENTS OF YOUR APPLICATION
Under graduation- MBA programs accept students from all varieties of disciplines-General or Specialized; Engineering or Finance; Law or Fashion; Entrepreneurship or even Medicine. The University graduated from and GPA is looked at when applying for Deferred MBA. Maintaining good scores throughout the undergraduate/masters program is always advisable. Schools use to GPA as a tool to analyze your performance in your curriculum. Please maintain the median GPA required by each school.
Test Scores- As lucrative as as Deferred MBA is, the applicant pool is equally competitive. High competition = higher GMAT score. We recommend students to get the scores locked at the earliest, to be able to spend adequate time in profile-building and strengthening ones candidature. Although, 740 hits the median of all the schools, a 760 or a 99th percentile is highly recommended by Top One Percent. Students should compete their GMAT at least in the pre-final year, to allow enough time for profile building and increasing their odds of getting in.
Internships- If Deferred MBA accepts students with no full time work experience (students in pre or final year apply only), how do the Admissions committee analyze if a student has the leadership and analytical skills to qualify for these Top programs? Internships and Employer Branding in the process is factored in while selecting a candidate. It's highly recommended to get as many diverse internships they can, internships with esteemed organizations adds more value. Unlike Indian schools, Global schools consider Internships and Article ship (CA candidates) as work experience (ISB is an exception)
Extra-curricular Profile- To assess the odds of a candidate, Schools look beyond one's curriculum to identify employable skills. (Leadership, Analytical, etc). Adcom will be keen to understand your contribution and performance in your curriculum, and outside of your structured course or curriculum. Range of extra-curriculars can vast, including association with clubs in your college or university , sports, part-time job, learning new skills. Your extra-curricular profile needs to showcase your interests and skills. Your participation in a sports team will showcase your leadership and team-work; or joining academic clubs which relate to debate, poetry, science, engineering etc. can showcase your skills like networking and communication.
Community Work & Volunteering- Social volunteering will be a great value addition for your profile as it will showcase your willingness to make a difference in your community and go beyond your comfort. To gain some volunteering experience, you can volunteer for NGOs, join an environmental group, work for any social causes or join college societies like National Service Scheme &/or Enactus.
Essays - Essays are a way of projecting your interest in the school, it also acts as a tool for the Adcom to assess your competence. Students submit 3-4 essays per school + 1 Optional essay. Questions vary school to school, no one shoe fits all. (Word count, type, etc) (Ctrl + C) + (Ctrl + V) one school's essay to the other is a crime and often suicidal!
Letters of Recommendation - 2 Recommenders are required for most schools. Finalizing Recommenders can be taxing- Who should you approach; what can or should be the designation of your Recommender; what is the credibility of the recommender are some of the questions students ask. We help students finalize their recommenders and often push them to start early as this can be time intensive.
THE NEXT PHASE OF YOUR APPLICATION PROCESS
Personal Interview - When your application gets shortlisted and the Ad com sees your profile befitting their B-School community, you get the most awaited Interview call. Questions often comprise but do not limit to your profile, application, behavioral and situation based questions. It can be taken by Ad com or a current student of that school.
Financial Aid/Scholarship- Pitch for scholarship happens post selection. Our Admissions team help students get the highest scholarship they can get, assessing their strengths and pitching the same to the respective B-Schools. Our students get anywhere between 30% - 100% tuition fee waiver. More than 60% of our admitted students secure financial aid. Full tuition fee waivers are also not a rare sight either at Top One Percent!
Start your GMAT/GRE journey now to secure your preferred Deferred MBA Admit! Take a look at how Harshit Jain, India's Youngest GMAT 780 Scorer, secured a Deferred MBA Admit at Wharton Business School, World's No. 1 B-School!