Updated April 2020: The Best MBA Deferred Admissions Programs (to apply to when still in college)

While most business schools require you to have between 2-5 years of work experience before you can apply to their flagship MBA programs, more and more business schools are offering deferred early admissions programs for college seniors. College is a great time to apply to business school. Applying now gives you another opportunity for admission, a potentially less competitive peer group to compete against, and much greater flexibility on when to attend. An offer of admission from a top program also enhances your resume prestige and hedges your career risk. There really is no downside. Offers of deferred admission usually give students a guaranteed spot in a future MBA class provided they spend two or more years getting business experience (which you will need anyways to get the most out of business school). Here are the top programs that offer such deferred enrollment options: 

Harvard Business School 2+2

Perhaps the most famous of the deferred admission MBA programs is Harvard’s 2+2, established by its famous former director Lee Leopold. While college seniors from any academic background are eligible to apply, some preference will be given to high potential individuals on paths that aren't as well established in leading to graduate business school, including applicants:

1. Planning to work in an operating company (tech, manufacturing, consumer goods, retail, industrials, etc.)

2. From a lower socio-economic background (first generation in college, lower-income family background, less family exposure to graduate school)

3. Going into a technically demanding role

4. Pursuing entrepreneurship

Students in college or graduate programs (attended directly after college, but not PhD programs, law school or medical school) can apply and defer attending the 2-year MBA program for between 2 and 4 years. To be considered for admission to the 2+2 Program Class of 2024 (entering fall 2022), you must graduate from your program between October 1, 2019 and September 30, 2020. 2+2 applicants pay $100 on the application fee compared to $250 for regular applicants. 2+2 applications have only one deadline: June 1, 2020.

Stanford GSB Deferred Enrollment

An excellent way into the US business school with the lowest acceptance rate. Stanford actually offers direct enrollment opportunities for college students, however in almost every case this deferred enrollment option is more advisable. Deferred enrollment is open to those who are in your final year of a bachelor degree or a joint bachelor/graduate program, and your degree will be conferred between October 1 last year and September 1 this year OR you are currently enrolled in a graduate program, which you began immediately following an undergraduate or undergraduate/graduate program.

In most cases the deferral requested by GSB for the student is 2 years. Candidates for this program can apply in any round, though Round 3 is slightly preferred, and the reduced application fee is $100.

Stanford intimates that this enrollment option is aimed at college seniors who seek to work in post-MBA industries that either require work experience (consulting) or previous work experience in that same field (private equity, biotechnology).

Wharton Moelis Advance Access Program

This deferred admissions fellowship program is only open to undergraduate students studying at the University of Pennsylvania. The Moelis Advance Access Program is a deferred admission program that gives Penn undergraduates a guaranteed pathway to the Wharton MBA after pursuing 2-4 years of work experience. The program focuses on Penn seniors whose academic and career interests expand traditional notions of business education.

Moelis Fellows access the Wharton network and resources during their deferment period and will receive a $10,000 yearly fellowship (or more based on merit) during the 2-year full-time MBA program. Applications open in March with Round 3 and the application fee is waived.

Chicago Booth Scholars Program

The Chicago Booth Scholars Program accepts applications from any current undergraduate student in their final year of study from all undergraduate institutions. The program allows you to complete the MBA application process while still at your undergraduate institution, then start at Chicago Booth after a conditional 2-4 year deferment period for professional experience. During the deferment period, Booth Scholars are expected to seek substantive work experience that will position them to succeed at Chicago Booth and beyond. Booth Scholars represent diverse interests and backgrounds, and are not limited to STEM or non-traditional applicants.

MIT Sloan MBA Early Admission

MIT Sloan MBA Early Admission is currently open to all enrolled full-time students who are:

• graduating or have graduated from an undergraduate degree program during the current academic year

• graduating from or currently attending a graduate degree program they entered immediately upon completing their undergraduate degree without full-time work experience

If admitted, successful candidates are expected to seek full-time work experience between two to five years. MIT Sloan welcomes applications from all areas of undergraduate concentration, including the humanities, the social and physical sciences, business, and engineering. Applications are typically due in June and there is no application fee for the MIT Sloan MBA Early Admission process.

Yale SOM Silver Scholars Program

Truly unique among the “deferred admission” programs is Yale’s Silver Scholars, which is an opportunity for college senior to pursue a Yale MBA degree immediately after graduation and begin an accelerated career path in any industry. Yale is looking for college seniors who will be future leaders in business, government, and nonprofit endeavors.

A three-year program, Silver Scholars spend the first year completing the core curriculum at Yale, the second year in an extended full-time internship, and third year taking elective coursework back at Yale before graduation. Extended internship placements include start-ups, government education departments, general management roles in large corporations, and investment firms. Though the Silver Scholar is different in character than the traditional MBA programs, it offers students a “first class ticket” at this prestigious business school that is rocketing up the rankings.

Columbia Business School Deferred Enrollment Program

The Columbia Business School Deferred Enrollment Program offers undergraduate students the opportunity to gain a few years of work experience with a guarantee of admission to Columbia's highly selective MBA program, and the flexibility to begin the full-time program 2-5 years after college graduation. The program accepts applications from students of all academic and personal backgrounds. Students who are graduating during the current academic year from a bachelor's degree program and students completing a graduate degree program (candidates must have started the graduate degree program directly after completing their undergraduate degree) are eligible to apply. Students enrolled in Ph.D. programs, law school, or medical school are not eligible. There is no application fee and applications are usually due in June.

Kellogg Future Leaders

College seniors and Master’s students who went directly into a graduate program from undergrad are eligible to apply to the Kellogg Future Leaders program. There is no preference for majors in any particular discipline. Once admitted, Kellogg will hold your spot for 2-5 years while you gain work experience. There is no application fee to apply, and applications are typically due in June.

Berkeley Haas Accelerated Access

This year Berkeley Haas is piloting a brand-new deferred admissions program. In the 2020 pilot cycle, the Accelerated Access program is exclusively available to UC Berkeley undergraduate seniors and graduate students in their final year of study who enrolled in their graduate program immediately after completing undergrad, without gaining full-time work experience. The program allows you to complete the MBA application process while in your final year of study, gain conditional admission, and then start your study at Berkeley Haas after a 2-5 year deferment period for professional experience. Students from diverse backgrounds and academic disciplines are encouraged to apply. There is no application fee. There are two application deadlines: Round 1 deadline in early April and Round 2 deadline in early June.

Darden Future Year Scholars Program

College students in their final year of study and fifth-year master’s students can apply to Darden’s Future Year Scholars Program. Admitted scholars may choose to begin their MBA after gaining 2-4 years of work experience. This program is a little unusual in that there are 4 deadlines – January, April, June, and August. There is no advantage to applying in an earlier deadline. Darden is not looking for students from a specific academic background. Admitted scholars will be considered for merit-based award at the time of admission (and will be considered for additional scholarships at the time of matriculation) and will receive a personal Darden mentor. There is no application fee to apply.

How Does Coronavirus (COVID-19) Affect My Round 3 Business School Application?

The global Coronavirus disease (COVID-19) has upended nearly every aspect of life as we know it. For those of you who are still wrapping up your business school applications for the class of 2022, what does this mean for you?

Many top business schools have extended deadlines for Round 3 and deferred MBA applicants. Additionally, business schools realize that many people who had no intention of applying to business school this year may now suddenly find themselves out of a job, causing them to re-evaluate their career plans and making applying to business school seem like a good option. These extended deadlines and relaxed testing deadlines give them a chance to apply. Read on for school-specific information and helpful links.

Harvard Business School

Instead of April 2, 2020, the 2+2 new application deadline is June 1, 2020 at noon ET. Decisions will be released on July 28, 2020 at noon ET. In a blog post published by Chad Losee, Managing Director of HBS Admissions, HBS reaffirmed its commitment to international students. “Today I want to reaffirm that HBS MBA Admissions will continue to admit the most talented international and domestic applicants, irrespective of citizenship, as we strive to build a class of leaders who will make a difference in the world…Any international admitted student who is unable to start the program due to a visa issue despite their best efforts will be deferred to next year’s MBA class."

Stanford GSB

Round 3 deadline remains April 8th, 2020 at 2pm PT. Applicants are allowed to submit required exam scores after the Round 3 deadline. If you cannot submit your scores before they post decisions on May 21st, 2020 and you are considered to be a competitive applicant, they may invite you to join the waitpool until they receive your scores and can further consider your candidacy. Test scores are accepted up until August 1st, 2020. You may be invited to interview without test scores but you will not be admitted without a test score.

Wharton

The deadline Round 3 has been extended to April 15th and for Advance Access to May 27th. Round 3 and Advance Access applicants can submit their applications without having sat for a standardized test. Please see the admissions website for instructions on how to enter your scores into the application. If admitted to Wharton, you will be admitted with the condition that official testing will be submitted before arriving on campus on August 10th, 2020 for Round 3 applicants and before December 31st, 2020 for Advance Access Applicants.

Tuck

We will maintain our Round 3 deadline of March 30, and we will also allow applications on a rolling basis thereafter in a one-time Round 4 for those who need additional time. You can submit a Round 4 application on a rolling basis from April 1 to June 1. We’ll return decisions on a rolling basis -- as soon as possible from May 11 to July 1. You will still need all required materials to apply, including test scores. International applicants, especially those currently residing outside the U.S., are strongly encouraged to apply as soon as possible to account for expected visa delays at international embassies. Applicant-initiated interviews have been suspended for the remainder of the application cycle, while committee-initiated interviews will be conducted virtually for this cycle.

Chicago Booth

The Round 3 deadline has been extended from April 2nd, 2020 to May 31st, 2020. Applications submitted after April 2nd will receive decisions on a rolling basis. Due to global GMAT/GRE test center closures, for applications submitted by the deadlines noted above, we will accept test scores through an extended deadline of July 1, 2020.

MIT Sloan

Round 3: The timeline for MBA Round 3 remains the same. All applications must be submitted by 3:00pm EST on April 9, 2020.

Early Admission: The timeline for MBA Early Admission applications has been extended, the new deadline is June 2, 2020. All applications must be submitted by 3:00pm EST on June 2, 2020. Applicants invited to interview will be notified in mid-June and all interviews will be conducted via Skype. Final decisions for MBA Early Admission will be released on July 15, 2020.

Standardized Tests: MBA Early Admissions applicants who are unable to take and/or secure official test scores due to limited access to test facilities should email us at earlymbaadmissions.mitsloan@mit.edu to request a temporary waiver to complete the exam. If admitted, your offer will be conditional upon a minimum score set forth in your offer letter.

MIT Sloan's MBA Early Admission Program

Rod Garcia, the assistant dean of admissions at MIT Sloan, announced the creation of a formal deferred admissions MBA program at MIT Sloan similar to other successful ones at HBS and Stanford GSB. In fact, MIT Sloan had for a few years operated a sort of “backdoor” deferred admissions program for college seniors, but this announcement is good news because it signals an expansion of the program, formalizes the process, and take a lot of the guess work out for potential applicants.

Here are the details:

• Applicants may come from any undergraduate institution (not just MIT)

• Undergraduates may apply if they are graduating during the current academic year

• Graduate students may apply if they are graduating during the current academic year and entered their program directly after leaving college (i.e. have no full-time work experience)

• If admitted, students come to Sloan for their MBA after accumulating between 2 and 5 years of work experience (similar to how HBS and Stanford does it)

Here is the timeline:

• Applications due: Monday, April 8, 2019, 3:00 p.m., EST

• The admissions committee notifies applicants of their decisions: Wednesday, May 8, 2019

• Admitted applicants must reply to their offers: Sunday, June 1, 2019

The Benefits:

We’ve long written about the benefits of applying to MBA programs while still in college, and all those arguments remain true for MIT Sloan, one of the most exclusive MBA programs in the country whose alumni have founded fortune 500 companies such companies as E*Trade, Hubspot, Zipcar, and Akamai Technologies. A deferred admission offer allows students to pursue much riskier opportunities early in their career, increasing their earning potential and limiting their downside with the MBA offer.

The Bottom Line:

Interested in applying? Fill out our “What are my odds?” link and we’ll chat about building your case for:

• Why a deferred MBA program is right for you and why MIT can’t simply wait to admit you later

• What compelling narrative you can write that will help you stand out in a an MIT Sloan applicant pool where 87% of candidates are rejected

• What specific resources you need from MIT, such that you can’t get your MBA from anywhere else

• Assurance you can give MIT that you’re not applying to them as a backup to HBS or GSB

The Benefits of Deferred Admission Programs (Like HBS’s 2+2)

Top-tier MBA Programs such as Harvard Business School, Stanford GSB, Wharton, and others allow some applicants to apply for their MBAs while still in college, many years in advance of when they would actually attend. Applying to these programs comes with enormous benefits, such that if you're still in college and think you might like to go for an MBA sometime in the future, you should absolutely apply now while you're still in school. The deadlines for these programs are generally in March and April, so now is the time to get started on your applications! If you're undecided, here are just a few of the benefits you can expect from applying now:

Hedges career risk

Having an admissions offer from a top business school in your back pocket is the ultimate hedge to your career risk. Post-MBA salaries are consistently attractive ($140,000 starting base salary for consultants) because prestigious firms across industries are always looking for top talent from business schools. There really is no downside. Consider the following scenarios once you have your deferred admissions offer in hand:

• Laid off from your job after college? No problem! Just bide your time until it’s time to attend business school, recruit for a prestigious job and get your career back on track.
• Discover that you hate your first job and need to change industries in a hurry? No worries – that’s the whole point of going to business school, and you won’t have to have an awkward conversation with your boss when you follow through on your preexisting career plan.
• Love your job and have great success in it? That’s awesome! In that case maybe you won't need business school. Just decline your admissions offer and continue killing it at life.

Career boost from b-school prestige

You may have never sat through one MBA class at HBS, but with that deferred 2+2 offer of admission on your LinkedIn profile, you can still benefit from the enhanced prestige that brings. Employers who may otherwise be skeptical of your abilities might be more willing to take a risk on hiring you given both the selection signal from HBS and because they know that you will be able to enhance their brand reputation, both by talking up the company among the student body and by allowing them to count an HBS student as an alumnus of their analyst class. Some employers may even make prospective assumptions of your analytical abilities and excel skills based on what they expect you would have had to know in order to get into the school.

MBAs are mostly about brand names and prestige – a deferred admission program essentially gives you more years to enjoy those attributes.

Less competitive peer set

Consider the typical applicants to Stanford GSB – they are consultants from Big-3 firms, bankers from the biggest brands on Wall Street, and VCs from the most famous funds. They have spent years racking up accomplishments, leadership, prestigious work experience, and desirable skills. Competing against them requires something truly special.

Now consider the peer group for those applying to its Deferred Enrollment program: they are all just college students. Sure they may go to great schools, with high GPAs and strong test scores, but their resumes are relatively bare. They are being admitted on the prospect of the accomplishments they may achieve, rather than for services already rendered. In this case, your ability to gain admission depends much more on the narrative story you tell -- something you have full control over (ask us why) -- rather than the twists and turns of a career you don’t always have the power to control.

Two bites at the apple

Deferred enrollment or the traditional admissions process? Why not both? MBA programs tend to love reapplicants so applying to 2+2 just gives you an extra chance to get in, in addition to applying after a little bit of work experience. In that way, applying now essentially doubles your chance of admission. With programs like HBS accepting only 11% of candidates, you should use every advantage you can get.

Flexibility on when to attend

HBS calls its deferred admissions program 2+2 on the idea that applicants will spend 2 years working before enrolling in the 2-year MBA program. However, that first 2 is more of a “2-ish”. HBS just wants you to have at least 2 years of work experience and will let you come back after 2, 3, or even 4 years. This gives you a tremendous amount of flexibility to attend business school when it is best for your career. In contrast, HBS almost never allows its traditional applicants to defer an offer of admission from one year to another. If things change in that case, you’re going to be in the difficult position between declining an exciting career opportunity and declining a spot in HBS that you might never get back.

Don’t make that mistake. Apply to a deferred program if at all possible.

The “Optionality” of Business School: How deferred admissions MBA programs can make you rich

Getting accepted into a deferred MBA admissions program frees you up to take career risks early on, knowing that you can always fall back on recruiting for a cushy management consulting or investment banking job in business school. This is a huge, liberating blessing. Taking career risks early allows for truly superior financial returns in life. Consider an analogy to a financial portfolio. Salaried labor is like a bond – it pays consistent, steady, reliable returns. At the start of your career, you have 30+ working years ahead of you: a veritable basket of bonds. In contrast, starting a business or working at an early stage start-up comes with potentially volatile and uncertain salaries, but the potential for enormous upside through equity. This profile is much more like a stock.

Because you have many working years ahead of you, working in a steady job is equivalent to investing your portfolio 100% in bonds: low-risk, but low-reward. Doing this doesn’t make sense when it comes to personal investments; most financial advisers recommend young people invest 10% in bonds and 90% in stocks. Therefore it is important that you diversity your “portfolio” by taking a lot of career risks early on. Later in life, when you only have a few years of work left before retirement, it’s advisable to shift your personal investments to 90% bonds and 10% stocks. Accordingly, you won’t want to be working at a start-up and instead should have a steady, salaried job.

A deferred admission to business school essentially allows you to take better advantage of this high-risk early strategy by limiting your downside. If you follow this advice and take a bunch of career risks right out of college and your start-up becomes a unicorn, netting you millions of dollars – awesome! Take the money, decline your business school offer and never look back. However, if your start-up flops you can just come to business school and either start again on another start-up with the validation of a brand-name school, or switch to a traditional “bond-like” job at McKinsey.

Many two-year MBA programs allow students to take a number of years off between their first year and second year (at HBS, it is 5), so many students come into school, form a start-up, and take time off to run it, safe in the knowledge that if it flops, they can always come back and get an awesome job.

When you think about it, the payout profile of business school is similar to that of a call option – it lets you sell your labor at a predictable price (~$140,000 in salary for most consulting firms). How do you increase the price of an option? Through increased volatility in the marker. And how do you get that? By taking a ton of career risks. Once you have your admissions offer in hand, taking these risks is just a prudent thing to do to increase the value of your property.

In that way an early admission to business school equips you with the tools necessary to greatly increase your earnings and potentially make you rich.

The Best MBA Deferred Admissions Programs (to apply to when still in college)

Update 4/20/2020: We’ve written an updated version of this article with the latest information and programs.

College is a great time to apply to business school. Applying now gives you another opportunity for admission, a potentially less competitive peer group to compete against, and much greater flexibility on when to attend. An offer of admission from a top program also enhances your resume prestige and hedges your career risk. There really is no downside. Offers of deferred admission usually give students a guaranteed spot in a future MBA class provided they spend two or more years getting business experience (which you will need anyways to get the most out of business school). Here are the top programs that offer such deferred enrollment options: 

Harvard Business School 2+2

Perhaps the most famous of the deferred admission MBA programs is Harvard’s 2+2, established by its famous former director Lee Leopold. Seen as a tactic to pluck out high-prestige students who might otherwise be attracted by the prospect of law school, 2+2 is now a leading feeder of STEM students, among others, into its rigorous case-based classes. 60% of 2+2 admits come from STEM backgrounds and 20% come from international students.

Students in college or graduate programs (attended directly after college, but not PhD programs, law school or medical school) can apply and defer attending the 2-year MBA program for between 2 and 4 years. To be considered for admission to the 2+2 Program Class of 2022 (entering fall 2020), you must graduate from your program between October 1, 2017 and September 30, 2018. 2+2 applicants save $150 on the application fee compared to regular applicants.

Stanford GSB Deferred Enrollment

An excellent way into the US business school with the lowest acceptance rate. Stanford actually offers direct enrollment opportunities for college students, however in almost every case this deferred enrollment option is more advisable. Deferred Enrollment is open to those graduating between October last year and September this year from either college or a graduate program you immediately enrolled in after college, as well as current law school and medical school students. In most cases the deferral requested by GSB for the student is 2 years. Candidates for this program can apply in any round, though Round 3 is slightly preferred, and the application fee is $100.

Stanford intimates that this enrollment option is aimed at college seniors who seek to work in post-MBA industries that either require work experience (consulting) or previous work experience in that same field (private equity, biotechnology).

Wharton Moelis Advance Access Program

The newest deferred admission program on the market! Open only to undergraduate students studying at the University of Pennsylvania, the Moelis Advance Access Program is a deferred admission program that gives Penn undergraduates a guaranteed pathway to the Wharton MBA while they pursue quality work experience. Moelis Fellows access the Wharton network and resources during their deferment period and will be considered for a $10,000 per year fellowship during the 2-year full-time MBA program. Applications open in March with Round 3.

Yale SOM Silver Scholars Program

Truly unique among the “deferred admission” programs is Yale’s Silver Scholars. A three year program, Silver Scholars spend the first year completing the core curriculum at Yale, the second year in an extended internship, and third year taking elective coursework back at Yale before graduation. Extended internship placements include start-ups, government education departments, general management roles in large corporations, and investment firms. Though the Silver Scholar is different in character than the traditional MBA programs, it offers students a “first class ticket” at this prestigious business school that is rocketing up the rankings.

Chicago Booth Scholars Program

Booth offers two programs aimed at college students. The first is the Booth Scholars Program, which provides fourth-year students studying at the University of Chicago a special opportunity to apply to Booth’s Full-Time MBA Program prior to graduation and defer enrollment for three years. During the deferment period, Booth Scholars are expected to seek substantive work experience that will position them to succeed at Chicago Booth and beyond.

Booth also accepts applications from college seniors looking to directly attend Booth after college. These candidate apply through the regular process, but their application fees are waived.

BONUS secret program: MIT Sloan

Though MIT never explicitly states that it has a deferred admission program, it does! You can see implicitly from its FAQs, notably

• "We offer fee waivers to the following applicants:... Current college seniors who are U.S. citizens and who will graduate from a U.S. university in 2018"

• Q: "Do you offer deferrals?"
  A: "Our general policy is not to defer admission, except in the case of college seniors who wish to get work experience before returning to school."