Undergraduates now have an alternative route to highly competitive MBA programs. This new option, known as deferred admissions, allows undergraduates to apply to graduate and professional programs that would have otherwise been inaccessible to them.
Additionally, this route reduces the anxiety and fear that many graduating college seniors feel when considering their next professional steps.
The popularity of deferred programs has skyrocketed in recent years. Many top colleges in the United States, India, and Europe now offer postponed MBA programs, such as the Harvard 2+2 and Yale Silver Scholars.
How has the deferred MBA program afforded college students an opportunity?
1. Easier Application Procedure
The application process for a deferred MBA can be less intimidating because students can apply while still enrolled in school.
To begin with, you would still be in student mode, recalling and applying all the aforementioned application strategies. Additionally, you could still take advantage of the school's career services and guidance to improve your application.
2. Reduced Costs
Many people considering graduate studies in business are concerned about how they will pay for it, as it may not be possible to save enough money to afford a traditional MBA program while working full-time.
A deferred MBA, on the other hand, gives you the opportunity to work off some of your student loan debt before beginning your MBA program. That way, you'll know for sure how long you have to save up money and prepare yourself mentally for the endeavor at hand.
3. Gradual Network Growth
You can expect to have immediate access to the school's network of students, alumni, and faculty if you are accepted into a deferred MBA program.
This would not only help you get off to a good start with a few friends as you begin your MBA program, but it would also give you valuable work experience before you even enroll.
4. Acceptance Rate Is Very High
While the majority of MBA programs at top business schools require applicants to have at least two years of professional experience under their belts, an increasing number of schools are introducing deferred early admissions programs for high school seniors.
One should definitely consider applying to business schools while they are still in college. If you apply then, you increase your chances of being accepted, you'll be competing with a smaller pool of applicants, and you'll have more freedom in deciding when and how often to attend.
5. Career Adaptability
A lot of people who want to get an MBA later in life are scared off by the possibility that it won't be worth their time and money. On the other hand, applying to MBA programs while still in school would give you more flexibility in arranging your future commitments.
Knowing how much time you have until the start of your MBA program will give you more freedom, both professionally and personally. This is true whether you want to volunteer, get a job right out of college, or travel the world.
The offer of an MBA is not binding, so you can always turn it down if your career takes off in the direction you want.
Deferred admission offers typically guarantee students a spot in a future MBA class, provided they spend two or more years gaining relevant work experience. This is essential if you want to succeed in business school.
Getting accepted into a competitive program boosts your professional credibility and protects you from career uncertainty. There is actually no downside to this. If you've been wondering if a deferred MBA program is worthwhile, here's your answer!