Why You Should Consider Doing a Deferred MBA

Pursuing an MBA isn’t always an easy decision to make. Because most business schools want candidates to have at least two years of professional experience before they apply, a lot of potential MBAs might be put off by the time and dedication needed to fulfill these requirements.

However, this mindset has started to change thanks to the rise in deferred MBAs.

This type of program grants pre-admission to candidates, usually two years in advance but this can go up to five years. This means that undergraduate students or recent graduates who are set on one school can apply and get accepted without having any work experience.

Some of the top b-schools offering deferred MBAs are Harvard Business School, Stanford Graduate School of Business, MIT Sloan and IESE Business School.

If you’re still unsure of what to do after graduation and are considering doing an MBA, here’s how applying to a deferred program could benefit you.

You’d be more likely to apply

While the prospect of applying to a regular MBA in the future might scare you off – partly because of how competitive the process can be, but also for the experience required to apply – deferred MBAs can facilitate your decision.

If your heart is set on a school, apply during your undergrad program and trust that you’ll be able to get the experience you need after graduation – you have nothing to lose.

The application process would be easier

By allowing candidates to apply while they’re still in school, deferred MBAs can make the application process less daunting.

First of all, you’d still be in student mode and would be able to remember and utilize all the tips and tricks for a successful application. Second, you’d still have access to in-school career services and support, which would help you maximize your chances of getting accepted.

You’d save money

Debt is something a lot of aspiring b-school students worry about, as applying to a regular MBA while in the workforce might not give you enough time to set money aside.

On the other hand, a deferred MBA can help you tackle the financial burden of debt by letting you take a few years off before going to b-school. That way, you know exactly how much time you have before starting, and you’d probably end up saving up a substantial amount of money before you take the plunge.

You’d have more career flexibility

The thought of doing an MBA when you have already begun your career can be intimidating, as many MBA hopefuls fear the time and investment may not be worth it. However, on the flipside, applying for an MBA program while still at school would allow you to plan your future in a more relaxed way.

Whether you want to volunteer somewhere, get a job fresh out of school or travel the world, knowing how much time you have until the start of your MBA is sure to give you more flexibility – not only in your career, but in your life too.

Moreover, if your career sets off in the right direction and you’re happy with where it’s going, you can always decline your MBA offer.

You’d build a wider network over time

If you get accepted onto a deferred MBA program, you’d likely gain immediate access to the school’s network of students, alumni and faculty.

This wouldn’t only help you start your MBA on the right foot (and with a couple of friends), but it would also provide you with professional opportunities before you even go to business school.

If you want to explore different business schools and the programs they offer, click here.