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

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