One More Reason to Apply to HBS While You Are Young

If you've been reading our blog for a while, you no doubt have picked up on the fact that Harvard Business School has been the most vocal among top business schools about trying to attract younger applicants. By "younger" we mean that, while the mean number of years of work experience for students entering top business schools is still around 5 (note that's the number of years of full-time work experience at matriculation, not when they submit their applications), Harvard has made a point of encouraging applicants to apply with fewer than three years of experience. In fact, nearly half of the Class of 2011's 937 students has no more than three years of full-time work experience.

As if being an "old" applicant (i.e., someone with 5+ years of work experience) doesn't seem tough enough these days, now comes word that HBS is encouraging college seniors to apply in Round 3. As Dee Leopold wrote on the HBS Admissions Blog the other day:

If you are a college senior who wants to go to HBS - but not right away - then applying in Round 3 could be a smart choice.

Why?

1. The positive outcome is going to be "deferred admission" -- a guaranteed spot in the class of 2014 with the stipulation that you work for two years before matriculation.


2. No target or cap on the number of deferred admit spots we will offer. Last year 43 college seniors were offered deferred admission.


3. No downside: If you aren't admitted, apply again in a couple of years -- lots of denied college seniors are successful in the future.


4. The application fee is only $100.


5. GMAT/GRE scores are good for 5 years - why not take the test in college while you are still in test-taking mode?

Applying to HBS or any other top MBA program in Round 3 can be daunting enough on its own, but this doesn't help. However, this is great news if you're a college senior who missed the boat on the HBS 2+2 Program before your senior year.

Overall, if you're an older applicant, stop reading this post (lest you just make yourself more stressed). If you're a college senior or a fresh-out-of-college applicant, however, this is one more reason to think about applying to Harvard Business School sooner rather than later, provided that you're truly ready. This means that you have a competitive GMAT score, already have an idea of who can write great letters of recommendation for you, and have some good experiences to draw upon to demonstrate your leadership abilities and your maturity. If you already have these things (or have an idea of how you can get them within the next year), Harvard's signal is clear: They would rather that you apply now, rather than a few years from now.

For more advice on getting into Harvard Business School, download the free HBS Annual Report, one of 15 completely free guides to the world's top business schools, available on our site. If you're ready to start building your own candidacy, call us at 1-800-925-7737 and speak with an MBA admissions expert today!

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Harvard Business School Dean Jay Light to Step Down

Yesterday Jay Light, who has served as Dean of Harvard Business School for the past five years, announced that he will retire next June. The announcement comes nearly 40 years to the day after Light first joined the HBS faculty.

Jay Light's relationship with HBS goes back to 1966, when he was working at the Jet Propulsion Laboratory in California and decided to apply to the school. He was accepted, but ended up joining a new doctoral program between HBS and Harvard's Faculty of Arts and Sciences. His long and distinguished career at Harvard has included serving as Chairman of the school's Finance department, Senior Associate Dean and Director of Faculty Planning, and Senior Associate Dean and Director of Planning and Development. Back in the 1970s, he took a two-year leave of absence to serve as the Director of Investment and Financial Policies for the Ford Foundation.

Harvard University President Drew Faust released an announcement yesterday on the HBS site:

I wanted to take this moment to express my own deep appreciation, and the University's, for Jay's extraordinary career of service to Harvard.

Jay has been an exemplary leader in a school dedicated to the understanding and practice of leadership. In his years as dean, and throughout his decades at Harvard, he has done a great deal to define the distinctive character of Harvard Business School and to guide its strategy and progress in everything from MBA education to innovative executive programs, from global engagement to initiatives focused on health care and science. He has brought to all he does a powerful devotion to the school he loves - and has inspired a similar devotion in others. He has also been a strong and influential voice within our deans' council on matters of university-wide concern, and someone whose organizational and financial expertise has long benefited not just the Business School but the University more generally. He has been and will remain a valued colleague and friend, for me and for a great many of us across Harvard.

In an interview with the Harvard Gazette, when asked what decisions his successor, will have to make, Light answered:

I see three big areas. The first is the MBA program. How do we adapt the curriculum to ensure we're preparing students to address the leadership challenges they'll face in a rapidly changing, global world? How do we supplement what goes on inside the classroom, through small group or field-based experiences? The second is executive education. What kinds of programs should we be offering? Should we be doing less of some? Are there new opportunities in fields like health care and the management of science-based businesses? And the third would be in the School's publishing division. Obviously, all publishing enterprises are having to rethink what they do and how they are structured as they move more and more of their content online. Harvard Business Publishing is no exception to that challenge, and the next few years will be critical.

In her announcement, President Faust indicated that the search for a new dean will begin right away, and that she'll look far and wide to find his replacement. We expect that the school will make every effort to at least announce Light's successor before he steps down in June.

To learn more about Harvard Business School, take a look at Veritas Prep's HBS Annual Report, one of 15 completely free guides to the world's top business schools, available on our site. If you're ready to start building your own candidacy, call us at 1-800-925-7737 and speak with an MBA admissions expert today!

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