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630
Avg. GMAT
27
Avg. Age
$ 128K
Avg. Cost of Study
2 – 4
Years DurationÂ
$ 110K
Avg. Salary
In the ever-evolving landscape of higher education, the Deferred MBA program has emerged as an enticing option for individuals looking to advance their careers through a master’s in business administration (MBA) while gaining valuable work experience, saving money, and exploring their interests. A deferred MBA is a program that allows you to defer your MBA admission for a specified period of time, typically two or four years. During this time, you can work full-time, travel, or pursue other interests. Once the deferral period is over, you will be admitted to the MBA program and begin your studies.
A deferred MBA program allows you to gain valuable work experience before embarking on your MBA journey. This hands-on experience can give you a competitive edge in the job market and help you build a network of professional connections.
Deferred MBA programs offer the advantage of deferring your tuition payments until you actually start your MBA program. This can lead to significant savings, particularly if you plan to finance your education with student loans.
Deferred MBA programs provide the freedom to travel, work on personal projects, or explore other interests before committing to an MBA. This can be an excellent way to broaden your horizons and gain diverse experiences.
These programs allow you to defer your MBA admission for two years after completing your undergraduate degree. This is the most common type of deferred MBA program.
These programs allow you to defer your MBA admission for four years after completing your undergraduate degree. This type of program is less common, but it can be a good option if you want to gain more work experience before starting your MBA.
These programs allow you to apply for deferred admission at any time. This type of program is a good option if you are still determining when you want to start your MBA.
These programs require you to meet certain conditions, such as maintaining a certain GPA or GMAT score, in order to be admitted to the deferred program. This type of program can be a good option if you are unsure if you will meet the requirements for the regular MBA program.
It is important to note that not all business schools offer deferred MBA programs. If you are interested in a deferred MBA program, it is essential to research the different programs available and choose one that is right for you.
There could be several pros and cons of a Deferred MBA Program. However, if you’re planning to go for such program then you must keep the following in mind.Â
1. Gain Work Experience
2. Save Money
3. Travel or Pursue Other Interests
4. More Time to Prepare for the MBA
5. Increased Chances of Admission
1. Longer Time to Complete Your MBA
2. May Lose Out on Scholarships or Financial Aid
3. May Have to Reapply to the School
4. May Not Be Accepted into the Deferred Program
$ 100KÂ
Avg. Tuition Fee
+Â
$ 25K
Avg. Living Cost
+Â
$ 3K
Extra Expenses
Avg. Cost of Study
The cost of pursuing a deferred MBA program can significantly vary, contingent on factors such as the specific school, program, and location. On average, a deferred MBA program in the United States carries a price tag of around $100,000, encompassing tuition, fees, and living expenses. Tuition expenses can fluctuate between $50,000 and $200,000 annually.
Additionally, living expenses can fluctuate between $20,000 and $40,000 yearly. International students should anticipate additional financial considerations, including visa fees ranging from $100 to $1,000, health insurance expenses varying from $1,000 to $5,000 per year, and potentially higher living costs, encompassing airfare, shipping, and cultural adjustment.
While the overall cost of a deferred MBA program can be substantial, there are strategies to alleviate this financial burden, including scholarships, financial aid, government grants, student loans, work-study programs, etc.
The eligibility criteria for deferred MBA programs vary from school to school. However, most schools require the following:
In addition to these general requirements, some schools may also require specific requirements, such as maintaining a certain GPA or GMAT score or having a certain number of years of work experience.
It is essential to check the eligibility criteria for the specific deferred MBA program you are interested in. You can find this information on the school’s website or by contacting the admissions office.
Here are some additional things to consider when applying for a deferred MBA program:
Your extracurricular activities: Are you involved in extracurricular activities? These activities can help you strengthen your application.
Numerous financial aids are available to support deferred MBA students in funding their education. They can help ease the financial burden and enhance your educational experience.
Grants serve as financial awards that do not necessitate repayment and are typically allocated based on demonstrated financial need. These grants can be instrumental in offsetting tuition, fees, and living expenses, ensuring that financial constraints do not hinder your pursuit of a deferred MBA.
Loans represent borrowed funds that must be repaid, often with accrued interest. Several loan options exist to help finance your deferred MBA program, including:
Work-study initiatives permit students to work part-time while enrolled in school, allowing them to earn income that can be applied toward tuition, fees, and living expenses. These programs offer financial assistance and valuable professional experience that can enhance your resume and bolster your career prospects.
Scholarships are precious financial awards that do not require repayment and are often granted based on various criteria, including academic merit, leadership potential, and demographic factors. When considering a deferred MBA program, exploring scholarship opportunities that may be available to you is essential. Here are some that you should keep an eye on:
| University | Details | Suggested |
| Harvard Business School | HBS MBA 2 + 2 Program Avg. Working Experience:Â 2 – 4 years* Application Fee:Â $100 Location:Â Cambridge, Massachusetts | Harvard 2+2 Deferred MBA: Overview |
| University of Pennsylvania | Moelis Advance Access Program Avg. Working Experience:Â 2 – 4 years* Application Fee:Â $100 Location: Philadelphia, Pennsylvania | Moelis Advance Access Program Overview |
| Northwestern University | Kellogg Future Leaders Deferred MBA Avg. Working Experience: NA (2 – 5 years preferable*) Application Fee: NA Location: Evanston, Illinois | Kellogg Deferred MBA Overview |
| University of Chicago Booth School of Business | Chicago Booth Scholars Deferred MBA Format: Full-time/Part-time Avg. Working Experience: 2 – 5 years* Application Fee: NA Location: Chicago, Illinois | Booth Scholar Deferred MBA Overview |
| The Sloan School of Management | MIT Sloan Early Admission MBA Avg. Working Experience:Â Preferable* Application Fee: NA Location:Â Cambridge, Massachusetts | MIT Early Entry Deferred MBA Overview |
| Columbia University | Columbia Deferred Enrolment MBA Avg. Working Experience:Â 2 – 5 years* Application Fee:Â $250 Location:Â New York City, New York | Columbia Early Entry Deferred MBA Overview |
| Yale University | Yale Silver Scholars Program Application Fee:Â Variable (sliding scale) Location:Â New Haven, Connecticut | Yale Scholar Deferred MBA Overview |
| University of Virginia | Darden Future Year Scholars Program Avg. Working Experience: 2 – 5 years* Application Fee:Â $250 Location: Charlottesville, Virginia | Darden Deferred MBA Overview |
| Berkeley Haas | Berkeley Haas Accelerated Access MBA Avg. Working Experience:Â 2 – 5 years* Application Fee:Â $200 Location:Â Berkeley, California | Berkeley Deferred MBA Overview |
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We strongly advise all our clients to have a proper excel sheet or a timetables mapped out.
Once you are done with GMAT the entire application process usually take 4-6 weeks
Step 1
GMAT / GRE Score
2-3 months.
If you are not sure about what score to target then look at the average score of the schools you want and shoot above the average.Â
Step 2
Profile Evaluation
 1-2 weeks.
Get your profile evaluated from a professional consultant and figure out what schools you can target based on your profile
Step 3
Application Prep
3-4 weeks at least.Â
Start writing at least 1 month in advance of their 1st deadline. First application usually takes the longest.
Step 4
Interview Prep
1 week
School will notify you and give you roughly 1 week to schedule your interview. Ideally, start your prep ASAP and Do some mock interviews.
While some deferred MBA programs accept applicants without prior work experience, others may prefer candidates who have completed internships or entry-level jobs. Each program has its own admission criteria.
The deferral period is an excellent opportunity to gain professional experience, explore different industries, and develop skills that will be valuable during your MBA studies and future career.
Policies on deferral extensions differ among programs. Some may allow for one deferral, while others may be more flexible. It’s important to discuss this with the admissions office of your chosen program.
Before committing, think about your long-term career goals, the program’s reputation, financial implications, and whether you’re ready to delay your MBA studies. It’s essential to make an informed decision that aligns with your aspirations and circumstances.
Scholarships and financial aid availability vary by program. Some schools offer scholarships specifically for deferred MBA candidates, while others may provide financial assistance on a case-by-case basis.
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