Determining the Best Timing for Your MBA Application

Hesiod, an early Greek poet believed to have lived around the year 700 BC, knew nothing of the MBA application process when he said, "Observe due measure, for right timing is in all things the most important factor." Yet Hesiod's wisdom endures... and is especially relevant for prospective business school students. Apply too soon and you submit an overall weak application. But let it go too long and it becomes questionable whether an MBA is still relevant for you.

Chioma founded EXPARTUS based on her vision of personal branding as a key component of a successful admissions process and her passion to enable others to realize their life's dreams. Previously, Chioma served as an Assistant Director of Admissions and a Member of the Admissions Board at Harvard Business School, where she reviewed applications, interviewed U.S. and international candidates, and developed a marketing strategy focused on minority candidates and the MBA program.

So how do you determine if it's the right time for you to go to business school? The answer lies within a serious and brutally realistic self-analysis that takes into consideration a variety of factors to assess your readiness.

Taking Inventory

As you go through this self-assessment process, you'll be asking yourself some key questions for which, clearly, you should already know the answers. For example, are you fully committed on a path to the business world or are you still considering other fields? Do you have a clear vision of what you want to achieve and how you believe an MBA will help you achieve your goals? Do your credentials align with the admissions requirements of the schools you're considering? Can you contribute the kind of diverse experience and business savvy that will add depth to the educational experience of the entire MBA class?

Uncertainty about any of these questions can be a signal that it might be wise to delay your application. The first reason is that you may not be ready to make the most of the business school experience, which represents a major investment of both time and money. Moreover, the ability to articulate clear goals, strong qualifications, demonstrated achievements and academic ability to the admissions committee plays a significant role in determining whether you're admitted. If you can't readily define your strengths in a personal assessment, chances are good you won't be able to convince the admissions committee.

On the other hand, let's say your commitment is absolute and your goals are clear, but you're light on experience. The first, most obvious option is to pursue the work experience necessary to strengthen your application. The other option is to consider a school that supports Early Career Initiatives.

Early Career Initiatives

The potential to achieve optimal benefit from an MBA program and become a valuable member of the learning community need not be the exclusive domain of seasoned business professionals. Several business schools such as Harvard, Stanford, and Chicago have developed Early Career Initiatives, recognizing that new or recent college graduates can possess exceptional personal achievements as well as demonstrated leadership potential that greatly enhance the classroom experience. The relaxed requirements of early career programs help make the MBA more accessible, especially for women because they remove some traditional barriers. For example, women are less likely to be encouraged by their employers to pursue the MBA, but the opportunity to go to business school directly from college allows women to maintain the momentum of their education. Yet another reason is that many women see a demanding business school experience as incompatible with family life–not surprisingly, since the average age for starting business school is approximately 28, about the same time most women focus on marriage and children. Early career programs can allow women to get on the MBA track earlier, before the age when family issues force a choice between the two.

Harvard Business School, for example, has no minimum age or work experience requirements. Instead, the school looks at the content, quality and impact of an applicant's experience. Academic ability and leadership potential are the school's primary considerations, followed by the candidate's maturity and quality–rather than quantity–of experience. In fact, the signature case study teaching method used at HBS is driven by different perspectives and experiences, and is therefore enhanced by bringing fresh perspectives and a more diverse age range to the classroom.

The absence of specific quotas or formulae for admission is also characteristic of the Stanford MBA program. Rather than minimum levels of work experience, the school focuses on the candidate's ability to "benefit from—and contribute to—the academic community," based on the philosophy that a diverse student body makes the school a more stimulating place to learn.

Like that of Harvard and Stanford, the admissions requirements of the Chicago Business School include no quotas or arbitrary cut-offs with respect to work experience. The school also offers the GSB Scholars Program, which allows fourth-year students in the College of the University of Chicago to apply for the full-time MBA program and receive an automatic enrollment deferral of two-to-three years, rather than waiting three-to-five years after graduation, the norm for the majority of business schools. The deferral period enables students to gain the substantive experience that will position them for success at GSB.

Part-Time and Executive MBA Programs

The flexibility of part-time and executive MBA programs offers the advantage of being able to work and learn concurrently, which can be either a convenience or a necessity depending upon your personal circumstances. A key benefit of these programs is the opportunity to see academic concepts played out in the workplace and the ability to immediately apply lessons learned. In addition, many companies provide reimbursement for some or all of an employee's tuition costs, helping offset the massive debt often associated with full-time MBA programs. However many schools restrict on-campus recruiting to full-time students on the premise that it poses a conflict of interest when the employer is contributing to the student's expenses.

Part-time MBA programs typically require the same number of courses as a full-time program, but are spread out over several years. Most are year-round, with no breaks or internships during the summer months. Yet, part-time programs can be a good fit if you're a working professional seeking to enhance your career. On the flip side, some recruiters perceive that part-time MBAs do not demonstrate the same level of commitment and motivation as graduates of a full-time program.

Executive MBA programs are essentially part-time MBA programs for working executives. Program length varies from school to school, with classes usually on weekends for up to two academic years. They are inherently intensive, typically with stringent admissions requirements designed to ensure a high degree of classroom quality. Executive MBA students typically take the same general management curriculum, rather than core courses one year and electives the next. And there is no internship requirement because students are already employed full-time. Such programs are ideal for executives who need career-broadening management training at a faster pace than part-time programs offer.

You're the Best Judge

By far, you're the best judge of your readiness to attend business school and to decide the type of MBA program that's right for you. Ultimately, the best choice will be one that takes into careful consideration what time it is with respect to your level of commitment, achievements and credentials–as well as the impact on your finances and lifestyle. And once armed with this self-awareness, you will be able to choose the MBA program that will best suit your personal needs and enhance your goals.