Deferred MBA programs: An early ticket to the Ivy League and elite global schools for Indian graduates

While engaging with students from one of the top IITs a few months back, I sensed a strong interest in knowing more about ‘Deferred MBA programs’. This interest resurfaced during a seminar at a top NIT recently and so I decided to pen down this article that covers essential facts about deferred MBA.

How is the deferred MBA different from the regular MBA?

Deferred MBA, as the term suggests, means ‘postponed MBA’. In a deferred MBA, you secure the admit in the final year of your undergraduate or masters degree (as long as you don’t have any prior work experience) and join the regular full time MBA program at the school atleast 2 years later, though programs like the Yale Silver Scholar are notable exceptions. Given that the average age of regular MBA admit of a top global B School is 26-28 years, it means regular MBA applicants have an experience of around 5 years. Deferred MBA admits who join the regular MBA after completing the required work experience sit in the same classes with more experienced classmates and have access to same employment opportunities as them. Thus a deferred MBA can be an accelerated option for jumpstarting your career.

Key Advantages and Watchouts for Deferred MBA

Advantages

Watchouts

·         You start early and can save anywhere from 2 to 5 years vs. candidates who pursue a regular MBA. The gain in earnings in form of salary and a faster track in management can result in a much better ROI and faster student loan repayment ·         You have the assurance of going to a top school way in advance and can use the intervening years to gain targeted learnings from your job in order to maximize your impending B School experience ·         As a student, you have more time than a working professional to complete the demanding MBA applications ·         Experience of holding your own and collaborating with peers with higher professional experience while pursuing an MBA. Any senior manager will attest to the value of influencing without authority and negotiation skills for a corporate career ·         Peace of mind of having an assured admit

·         If you change your mind about pursuing an MBA in those intervening years, you’ll lose your deposit money ·         It’s your responsibility to get an ‘acceptable’ job prior to joining the regular MBA and that job has been be ratified by the school ·         It’s more challenging to be able to fund B School tuition and living expenses with a limited earnings from the short professional experience prior to MBA

Key Evaluation Criteria for deferred MBA applicants:

•           Ability to handle academic rigor (GPA, test score)
•           Leadership (Positions of responsibility on or off campus)
•           Maturity (Ability to handle sticky situations well)
•           Analytical/Quantitative Aptitude
•           Strong Resume and Letters of Recommendation
•           Internships and impact made therein

Program Options:

UNIVERSITY	PROGRAMS accepting applicants without work experience
Chicago/Booth	Chicago Booth Scholars Program
Brigham Young University: Marriott	Graduate+2
Georgia Institute of Technology: Scheller	MBA Pathway
Harvard Business School	Harvard 2+2
IESE	IESE’s Young Talent Path (YTP)
Indian School of Business	ISB Young Leader Programme
McCombs School of Business	MBA (no early action program available)
MiT Sloan	MIT Sloan MBA Early Admission
NYU Stern	MBA (no early action program available)
Penn Wharton	Advance Access MBA
Rollins Crummer Graduate Schools of Business	Crummer Early Advantage MBA
Rutegers Business Schools	The Rutgers Future Leaders 2+2 program
SMU: Cox	Accelerated MBA
Stanford Graduate School of Business	Deferred enrollment
University of Virginia	Future Year Scholar Program
Yale School of Management	The Silver Scholars Program
University of Iowa Tippie	Take2 Deferred Admission Program
University of Minnesota Carlson	MBA in Two
Kelley School of Business	Kelley Accelerated Admissions Program for college seniors

For more tips on this or other topics or to get regular updates on new articles, write to me:

sumeet [underscore] verlekar [at the rate] berkeley [dot] edu

Did you find this article helpful? Get access to new articles and help others benefit as well by spreading the word:

- Subscribe or follow this blog (enter your email and just click submit in the box at top of page or side bar)  

- Share link of this article/blog via email or social media. Click on the relevant social media buttons below.

- Please comment so that I can understand what you liked and how I can improve this/such posts even further 

A recent Michigan Ross MBA (US News Rank #9) Admit's story

Shrikant gave it adequate time and adopted an authentic approach in his application to secure admit in one of the most coveted Global MBA programs

Profile Snapshot

Shrikanth M

GMAT: 750

Education: B.Tech (CS), MIT, Manipal GPA: 8.6/10

Work Experience: 4 years, 10 Months with US-based Big 3 Technology company

Post MBA Industry of Interest: Management Consulting

Interview Calls: Michigan (Ross), U.Penn (Wharton) 

When and why did you first consider getting a global MBA?

It was 4 years into my work at Microsoft, the learning curve had been extremely steep and I had gained a lot of exposure at sales strategies, business development and working with small businesses. I felt uniquely positioned to take the next steps towards my goal of becoming a management consultant and decided that an MBA will provision me with right platform and tools to make the shift. The decision to pursue a global MBA was guided by the fact that I wanted a diverse experience and a school that provided with hands-on experiences.

You scored high on GMAT, can you share what you did to prepare for the test?

I tried to be very patient with my preparation and did lot of questions, everything from the official guide, to multiple supplement course books and online exams. I consistently tested my self over weekends to get comfortable with the format. In my opinion the key is to find a balance between accuracy and speed. I would have practiced over 1000 questions for each quant and verbal.

Close to the exam I was very comfortable with the format and key concepts that are examined through the test. Given that I was working while I was preparing, gave me very little free time and hence I decided to study on my own and work at my pace. I ensured I gave myself 2.5 – 3 months of prep time before attempting the exam.

Describe your test day experience?

I had taken a couple of days off from work right before my test day, and used that time revise and more importantly rest. On test day I was fortunately calm and relaxed. I had decided my strategy while attempting the exam (thanks to the numerous mock tests I had given), and executed on the same. I tried to give every question enough time, but mindfully moved on when I was stumped.

What should one do to ace the GMAT?

Most things that the GMAT examines, have been taught to a lot of us during school, hence, after a brief revision of key concepts. I would recommend attempting questions of varying difficulty and a thorough post-mortem of the attempts. This will not only allow for an early grasp of the format but also allow one to practicing balancing speed and accuracy. However, in case some concepts are unclear or new for an aspirant, I would strongly recommend pursuing alternate material/sources like classes (offline/online).

Tell us your experience of the MBA application process. Did anything surprise or shock you?

The MBA application process was one that I learned a lot from, it pushed me to introspect and analyse what my goals were, both long term and short term. I was shocked when I saw that what schools demanded beyond score and GPA’s was the clarity of thought and its expression. I am extremely grateful to Sumeet for helping me form concrete ideas and helping me express them impactfully! Its important to note that building your story can be a tedious process and to give adequate justice, one must start their research early.

Tell us about Ross School and why you applied there?

While Ross is revered as one of the top MBA schools globally an in the US, what attracted me most was the university-town warm culture and their academic focus on action-based learning. It was clear that they make a targeted effort to foster their culture through avenues like MTrek, MAP, Student Funds, etc. I was drawn to this, given my priorities that were hand-on learning and diversity in experience.

Any advice for future applicants regarding the application process?

I can’t stress enough on giving active time to every part of the process, whether its GMAT, Resume, Essays, and even the small parts of the application. Iteratively reflecting on your story with the help of an unbiased guide will help you form your most impactful application. So start early and once again provide active-time in your application every day.

For more tips on this or other topics or to get regular updates on new articles, write to me:

sumeet [underscore] verlekar [at the rate] berkeley [dot] edu

Did you find this article helpful? Get access to new articles and help others benefit as well by spreading the word:

- Subscribe or follow this blog (enter your email and just click submit in the box at top of page or side bar)  

- Share link of this article/blog via email or social media. Click on the relevant social media buttons below.

- Please comment so that I can understand what you liked and how I can improve this/such posts even further