There is little difference between deferred and traditional MBA programs. It allows students to apply for an MBA program in their final year. Universities understand that you are still pursuing your education and don't require a 5-year work experience like a traditional MBA. Additionally, most colleges waive the application fees for deferred students.
These programs are a great option because they offer security as students don't need to write GMAT and applications alongside and add some clout to their resume.
How Does a Deferred MBA Program Work?
Once you have applied for a deferred MBA program, you must wait for the university's decision. Candidates will be calling for an interview as the next step.
Students selected for this program will be deferred for 2-5 years. During the deferred period, students can work and gain some professional experience. It allows them to start their MBA program within those 2-5 years. Most students who opt for a deferred MBA program wait until the end of the deferral period. However, it is entirely acceptable to start it after two years.
Once you enroll, you will attend the program like all other applicants, traditional or deferred.
If you change your decision to pursue the MBA program in those 2-5 years, there is no fee or penalty charged. You just need to inform the school regarding your decision.
Who Should Apply to Colleges Offering Deferred MBA Programs?
Students in their last year of an undergraduate or master's degree are eligible for deferred MBA programs.
The primary criterion for applying to a postponed MBA program is that you must be an early career professional with little or no full-time job experience.
Deferred MBA applicants often have a specific professional path in mind and understand how an MBA can help them reach their objectives. Candidates often have a strong academic record as well as demonstrated leadership potential.
Suppose you want to be mentored by the best minds of the top B- schools early in your career. You can do so since education loans from Germany, the UK, the USA, and many other counties are possible.
Knowing you have a slot in a postponed MBA program waiting for you allows you to be more flexible in your early career. That may mean branching out into fields you've never worked in or even starting your own business.
Business schools with deferred MBA programs
Harvard Business School 2+2 program
New York University Stern NYU
Columbia Business School Deferred Enrollment Program
Wharton Moelis Advance Access Program
Stanford Graduate School of Business
Chicago Booth Scholar Program
UVA Darden
MIT Sloan
Yale School of Management (Yale Silver Scholars Program)
Application Process for Deferred MBA Programs
To apply for a deferred MBA program, you will generally need the following:
1. An unofficial copy of college transcripts with final year courses
2. An MBA Resume with internships, part-time positions, and full-time positions
3. A Valid GMAT or GRE Score
4. Two LORS, one (1) letter from an academic instructor and one (1) letter from an employer.
5. Two essays (These are the same as that submitted by full-time MBA applicants)
6. The shortlisted candidates are invited for an in-person or via Skype interview. Upon completing the two-stage process, you receive the final admission from the college.
Conclusion
A deferred MBA is your best option if you are a business and management enthusiast and still in your final year of education, not only because of its no work experience requirements but also because it has been designed that way. The things you learn in a deferred MBA program are suited for young students taking their first step into a global business. Get your options straightened up and start applying. With time, securing admission to a top business school with a deferred MBA program will become more complex.
We know and understand that the application process can be overwhelming, so we are here for you. The study abroad experts at Hello Study Global are there for you every step of the way. From preparing for entrance exams to college applications, we will guide you to success.
Feel free to reach us at Hello Study Global.
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