If you are a student in the final year of your undergraduate or Master’s program and are thinking about securing a seat for yourself in one of the best MBA programs after gaining a little professional experience, then, you can consider applying to the Chicago Booth Deferred MBA program. It is commonly known as the Chicago Booth Scholars Program. If you decide to apply to the Chicago Booth Deferred MBA program, there is a lot of research that needs to be done about various important specific details like the eligibility criteria, requirements for admissions, application dates and the process, etc. All of this information has been collected here in this blog.
About the Program
The Chicago Booth Scholars program gives you an opportunity for provisional admission to the Chicago Booth’s Full-Time MBA Program along with a facility of deferment of 2-5 years for gaining full-time work experience. The period of deferment is a minimum of 2 years and a maximum of 5 years. If a student wants to delay her/his admission for more than 5 years, then, she/he would be required to apply for the MBA program again.
Class Profile
The school encourages students from diverse educational backgrounds to apply for the Chicago Booth Deferred MBA program. The last class included students from 18 countries from 38 different undergraduate institutions. The range of their GPA is 3.28-4.00. The educational backgrounds include Biology, Economics, Psychology, Statistics, etc. They generally have work experience of internships or part-time jobs or even experience of running their own businesses.
Eligibility Criteria
The eligibility criteria of the Chicago Booth Deferred MBA program is similar to other deferred MBA programs like –
1) Students of the final year of their bachelor’s degree program
OR
2) Students of the final year of their joint bachelor’s/master’s degree program
In order to apply for the Chicago Booth Deferred MBA program of the next year, the applicant must be graduating between October and September of the year before.
Requirements for Applying
Before applying to the Chicago Booth Deferred MBA program, one must have a checklist of all the documents mentioned below –
1) Unofficial academic transcripts from all postsecondary educational institutions the applicant has attended are required. If an applicant is admitted, then, official academic transcripts would need to be submitted.
2) Short answer question and essays – The Admissions Committee evaluates the applicants on the basis of different factors and this is one of the most important factors.
Question for Short Answer –
What do you plan to accomplish after graduation and prior to starting your MBA?
Essays –
How will the Booth MBA help you achieve your immediate and long-term post-MBA career goals? (minimum of 250 words)
An MBA is as much about personal growth as it is about professional development. In addition to sharing your experience and goals in terms of career, we’d like to learn more about you outside of the office or classroom. Use this opportunity to tell us something about who you are… (minimum of 250 words)
Check here for essay tips – Application essays, Structured Thinking, Visualization, Story Telling
3) Current professional resume enlisting all the activities that are helpful in proving yourself to be a good candidate for the Chicago Booth Deferred MBA program.
4) 2 letters of recommendation – One of these letters of recommendation should be from a supervisor who knows the applicant well and can help in telling about various strengths and weaknesses of her/him. If an applicant is not able to submit this letter of recommendation from a current supervisor, then, she/he is required to explain about this situation in the optional essay.
If an applicant is engaged in a family business or has her/his company, then, she/he is required to submit a letter from a client or outside party who has been in business with the applicant and who can provide a fair assessment.
The other letter of recommendation should come from professional contact or from someone with whom the applicant has worked in an organisation/ club or a volunteer project. It should be from some who can offer some insight into the personality of the applicant outside the professional environment.
5) GMAT/GRE exam scores – At the time of submission of the application, self-reported scores are required. Official scores would be required from the admitted students. The range of the GMAT score of their students is 640-780.
6) In the case of international students, a score of English proficiency tests is required. They consider TOEFL/IELTS/PTE scores. This is not a requirement for those international students who have got their undergraduate degree from an institution in which English is the language of teaching. This is also not a requirement for those international students who are permanent citizens of a country where English is the official language.
Application Process
The first thing to know about the application process of the Chicago Booth Deferred MBA program is the application deadline date. The last date for applying to the program is generally at the beginning of April and the interview is conducted between April and May of the same year. Their decision notification comes at the beginning of June.
One can start applying to the Chicago Booth Deferred MBA program online and pay a non-refundable application fee of $250. This application fee is waived off for the Chicago Booth Scholars applicants.
One part of the application is submitting the names and email addresses of the recommenders. They will receive an email from the school and would be required to fill the online form. This would contain the questions that have been mentioned below –
1) How do the applicant’s performance, potential, background, or personal qualities compare with those of other well-qualified individuals in similar roles? Please provide specific examples.
2) Please describe the most important piece of constructive feedback you have given the applicant. Please detail the circumstances and the applicant’s response.
After the evaluation of the application to the Chicago Booth Deferred MBA program by the admissions staff, students, or alumni, invitations are sent to selected applicants. The final decision will be given by their online system. If the applicant is selected, she/he gets an automatic 2-5 years of deferment which would be followed by admission to the Chicago Booth’s Full-Time MBA program.
Please note that it is mandatory for the selected students to maintain full-time employment throughout the time of the deferment and make decent progress in their careers. In addition to the professional requirements, one is also required to make deposits in the first, second, third, and fourth years of deferral. These payments are non-refundable.
In the first year of deferral, all the students who are going to start after 2, 3, 4 and 5 year deferral, are required to pay $1000 by February 1.
In the second year of deferral, all the students who are going to start after 2, 3, 4 and 5 year deferral, are required to pay $2000 by February 1.
In the third year of deferral, all the students who are going to start after 4 and 5 year deferral, are required to pay $1500 by June 1.
In the fourth year of deferral, all the students who are going to start after 5 year deferral, are required to pay $1500 by June 1.
They look for candidates with impressive skills, good academic performance and an ambition to grow and learn more. If you put effort in the overall development, you might consider applying to the Chicago Booth Deferred MBA program to secure a seat there.
Contributor – Richa Mathur
Marketing & Brand Manager | Content Creator
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