Round 3???
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I realized that in my recent post on round 3 MBA applications I did not explicitly name a large group of applicants who should consider a round 3 application: Those rejected at all the schools they applied to during round 1. If you applied to three or more schools round 1 and have been dinged by all, you need to evaluate why you are receiving the thin envelopes.
The most common reasons:
If you conclude that #2 played a significant role or if you just want to ensure that you start your MBA in Fall 2008 and are willing to attend a lower-ranked, but excellent program, then you should consider a round 3 application to schools where you are competitive and have a higher chance of acceptance. Programs outside what I call "the greater top-ten" accept a higher percentage of candidates in later rounds and know that they receive excellent applications from applicants rejected from their first round target schools.
If you would like help evaluating the reasons for your rejections and developing a strategy for going forward, please consider Accepted's MBA Application Review.
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