I'm not sure if it will be harder or easier because a lot of moving parts (fewer jobs available, economy recovers, etc.)
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Will be dependent on app #s, which a lot of experts expect to increase as job growth becomes stagnant. For internationals who can get out of their respective countries though, it may be easier as even less of them apply.
Luckily, I am an international in the US.
Jokes aside, it will be easier to get into school for the class entering in Fall 2020. There is too much uncertainty about how many admits actually make it class come August - this is mainly due to internationals (potentially) not being able to get a visa. Many top schools have extended their deadlines until June and from what I hear, are getting desperate.
Next year will probably be the opposite. As many people try to find shelter in a grad degree in difficult economic times, there is going to be a deluge of applications and it will be very tough to get in.
We’re entering a recession and Corona is likely to end at some point...all those who get laid off are going to be busy applying for b-school next year.
So, entering Fall 2020 is likely to be the easiest, with enter Fall 2021 the opposite.
I agree with RussianBot - if you are able to apply NOW (R3 or any of the extensions) then you have a great shot. Adcoms at top programs are bracing to have to defer a substantial number of their international admits who aren't able to get visas. If you are in a position to show up in fall 2020 and graduate in 2022, you may be able to ride out the down economy.
Have you heard anything about potential deferrals for domestic students? I got admitted to a top school and I’m concerned that it’ll start out online or not start at all. Also concerned about how recruiting will play out given that banking and consulting recruiting start so early.
I have not heard that programs are offering to defer entry for US candidates. Historically, the only reasons that deferrals would be granted would be if the admitted applicant couldn't get a visa or if there was a health issue. If you want to defer, you may be asked to reapply.
Hi Susan, thanks for the insight. What do you mean by "great shot"? I know historically Round 3 acceptance rates are far lower than Round 1. Would you say applying Round 3/extension NOW will have about the same or better chance than applying Round 1 for fall 21 matriculation?
Note: I've been planning to apply Round 1 for 2021 entry for about 3 years now and am worried that my opportunity window has closed.
The tables have turned and Round 3 will offer great opportunities for solid applicants who may have intended to apply in the fall. If international applicants are unable to get visas then the programs will still want to fill the seats with folks who are able to arrive. CBS, which typically has 45%+ international students, has extended it's deadline through June 1 so they can capture applicants who may have been looking to apply next year. See the free consult link below and I'm glad to discuss your situation. As with everything in MBA applications, it depends.
Here's what we sent out earlier this week:
As the world is facing great uncertainty and things are changing day to day, so is the 2019-2020 MBA admissions cycle. Now, MBA admissions committees are working diligently to respond, preparing for the possibility that many international students may be unable to get visas and be present on the first day of classes this fall. While this may surprise you, this means that in the 15 years that I’ve been involved in MBA admissions, there has never been a better time to submit a Round 3 (or even Round 4) application.
Let’s do some math here. Consider Columbia Business School (CBS) with an August entry cohort of ~550 which is typically comprised of ~45% international students. If one quarter of the international students can’t get their student visas, CBS might be looking to fill ~60 seats that will be left vacant by students who need to defer for a year.
Many top MBA programs have extended their Round 3 deadlines, introduced additional rounds or rolling admissions after Round 3 and/or are offering flexibility with respect to timing for submitting test scores.
While there are a lot of unknowns across all aspects of life right now, there is one thing that I know for certain. If you don’t apply to your dream MBA program, you WILL NOT be accepted. Here are five reasons you should consider applying in Round 3.
You Came up Empty Handed in Rounds 1 and 2. Perhaps you shot for the stars in Rounds 1 and 2 and don’t have an acceptance letter in hand. While there will likely be a lot of wait list movement in the months to come, wouldn’t you like to KNOW that you can be heading to business school this fall? What were the next schools on your list?
You Are Already Planning to Apply This Fall. If you have your target test score and have started figuring out your strategy to apply later this year, it might make sense to accelerate your timeline. Why wait until December to find out if you might be starting a program in the summer of 2021? You could be sitting in class before you even thought you would submit your applications.
**You are Uncertain About Your Job. **With unemployment applications at an all-time high, everyone is wondering if their position and paycheck will be secure in the weeks and months to come. If you aren’t sure where you stand, maybe it makes sense to apply to business school now. Being a student during a down economy is a great way to "ride out" a recession and re-emerge with enhanced skills, knowledge and a broader and deeper network.
**You Have Test Anxiety. **I’ve worked with many clients who perform incredibly well on practice tests only to freeze up when they enter a testing center. Both ETS and GMAC are working toward flexible testing options which should be available in April. Imagine taking the GMAT or GRE from the comfort of your own home. This may be just what it takes to get the score you KNOW you are capable of. Furthermore, many MBA programs have extended the testing deadline to accommodate applicants whose testing plans have been disrupted.
**You Weren’t Able to Visit Schools. **You may have thought that it didn’t make sense to submit applications until you set foot on campus. Since most campuses are closed, you are not as disadvantaged as in other years for not having sat in on classes or gone on a tour. Many programs have switched gears very quickly and are offering online information sessions, chats with students and virtual tours. Now you can do your research from the comfort of your own couch.
There are many candidates for whom Round 3 applications make sense. Others may not be quite ready. Not sure if applying in Round 3 is right for you? Reach out for a FREE consultation to discuss your profile and the best next steps for you on your MBA application journey.
Wash your hands. Keep a safe distance from others. Be kind. Stay healthy.
There are two signs that admissions may be easier in Round 3 for 2020 admissions:
Many schools have extended deadlines (to hedge against the risk that international students cannot get student Visas issued in time)
Across our client group, we have seen a larger than average number of US domestic applicants (i.e., ones who can enroll without any Visa contingencies) being admitted from waitlists, including some students with stats that are relatively weak compared to school averages. One client even received merit-based financial aid, which is unusual when being admitted from a waitlist.
For 2020 submissions / 2021 enrollment, we are seeing a moderately higher number of inquiries already, with the largest bumps coming on the first days of the stock market declines.
The second risk factor is that international admits for 2020 enrollment are likely to be offered deferrals to 2021 enrollment if Visas cannot be issued in time, which could reduce the number of seats available to international applicants in the new cycle.
What are thoughts on applying in 2021 for 2022 enrollment? Is that going to have higher applications than applications this fall for enrollment in 2021?
We're also recommending to clients that if they are in any way ready to apply now, they should apply for the extended deadlines. Schools are worried that internationals will not be able to attend and they want to fill their classes.
For more on this:
How Will COVID-19 Impact Your Admissions Journey: 5 MBA Admissions Experts Speak
MBA Deadline Updates: How Will COVID-19 Affect the MBA Application Process?
How will COVID-19 Impact Your MBA Admissions Journey, a recorded webinar with MBA admissions consultants.
Regarding the 20-21 application cycle, I think competition will intensify with the coming recession. Exactly when and how much, I can't say, but I believe there is real opportunity here for MBA applicants who apply now to get into schools they couldn't have gotten into before (note Kellogg's willingness to reconsider rejected applicants who appeal) and will not be able to get into next year of after. No guarantees, but that's how I see it.
If you want to get a sense of your readiness to apply, check out the new MBA Admissions Calculator. .
Best, Linda
I applied to a top 25 program about 3 weeks ago and I’m still waiting for an admissions decision, which I expect next week. However, I got approved for a GMAT exception already. I never even studied for the test. Pretty solid I got out of taking the test, but we will see if I get dinged during recruiting for IB.
Why PE-GE to IB? Curious if you don't mind
I'm not in PE. I just work for a reputable PE portfolio company. I thought the company would have more inorganic growth, so took the role over an IB analyst role at mediocre firm because pay was on par and my boss is super cool. However, capital dried up and the market went to shit, so didn't get the corp. dev. exp. I expected. I came from 2 years in corp. banking. I guess I need to change my position title, not sure if they have an option that reflects my role.
How does one get a GMAT exception -- just because of the Covid stuff or was it something personal to you?
The school was offering it because of the covid. I got approved for an exception, but they said it's a case by case decision. My guess is they need to fill spots obviously and the testing centers are closed. My undergrad gpa was 3.5 from non-target; however, I took a ridiculous amount of finance courses (i think like ~60 finance hrs + 12 hrs accounting and 12 hrs economics). Every single elective I took was a finance class and I took finance communication intensive courses instead of speech classes, so maybe my transcripts helped. I think my financial background may have helped as well, but Idk how they decided. I haven't even got admitted yet, so it may turn out it doesn't matter.
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