Waitlisted?-Insider Adcom Perspective on How Waitlists Work (Updated)

This post contains excerpts from my interactions with Diana Economy, a former adcom leader at Michigan Ross for 10+ years. GMATClub thanks Diana for providing an insider perspective on how waitlists work and helping candidates navigate the uncertainty that comes with getting waitlisted at a top B-school.

Now updated with more scoop on scholarships, waitlist updates, re-application and navigating waitlist+admit at different schools...

Q. Let's say I got waitlisted at an MBA school in a given round. What happens next and what are my chances of getting in?
If you’ve applied to an MBA program that begins this Fall, chances are schools are still waiting to hear back from the candidates they’ve already admitted. Candidates admitted in the most recent round (i.e., March 2023) will likely have until approximately the end of April to make their deposit. After the deposit deadline schools will revisit their waitlist and may make admissions decisions for waitlist candidates in conjunction with their Round 3 / May decision-release date or off-cycle, depending on how the program manages their waitlist. Your chances of getting in are informed by the number and mix of people who accept their offer, spots remaining, and the quality and strength of your candidacy.


Q. Can I do anything to improve my chances of getting in?
I know you’re not going to like this answer but…not really. There is little you can do to improve your candidacy in a short period of time with the exception of strengthening your test score if that was a weak point in your application. Follow the school’s guidelines and submit an update or confirm your spot on the waitlist if asked, but the reality is that updates have marginal impact on your candidacy, even if you’ve recently been promoted. Although promotions can signal professional growth and competitiveness, you haven’t had much of a chance to perform in that role to make much of an impact.


Q. How do I prepare myself for navigating the waitlist?
If you’re on the waitlist at this point one thing you can do is continue to solidify your understanding of the school and your relative fit. You’ve probably watched all the videos, read all of the blogs, and listened to all of the podcasts you can handle, but have you talked to any students recently? Do you know the school well enough that you could make a very quick decision on your waitlist offer? Are you asking students the questions you really need the answers to in order to picture yourself in that MBA program? Keep in mind that talking to students isn’t a numbers game - find one or two students who align well with your career priorities and interests to ensure you feel confident accepting a school’s offer if they call. As school begins in just a few short months you may have a very small amount of time to accept your offer and make a deposit if you get in off of the waitlist. You may only have a few days to make a decision and make a deposit! I know this feels quick but the schools that do this do so to ensure they can quickly go to someone else on the waitlist if you won’t be accepting the offer.


Q. Is the waitlist weighted / ranked?
No - I don’t know any school that does this. Some even call it a “waitlist pool” to further demonstrate that decisions on available spots are made from an available pool of candidates. Admissions teams are looking to bring in a diverse, well-rounded class and may be trying to fill gaps from the waitlist based on how a candidate’s background or experience may help to round out the class.


Q. Why is the waitlist so big anyway?
Schools aren’t purposely keeping large waitlists to torment you - the reality is that yield rates can vary from year to year and enrollment goals have to be met, so a reasonable waitlist to accommodate for fluctuations must be maintained. I think candidates would be surprised to learn how many people make a substantial deposit ($2,000 - $5,000) to hold their seat in the class only to walk away from it due to a promotion or offer from another school. And do people double-deposit? Of course they do! And Admissions teams know that. The number of matriculants (people who have paid a deposit) can fluctuate quite a bit between April - July, necessitating the need for a reasonably-sized waitlist. Some schools reduce their waitlist beginning in May, particularly if they don’t think they can get international candidates a visa in time to begin the program. They may also begin to reduce the size of waitlist if they have a good handle on their intake and only retain those who have a better shot of getting in.

Q. Can I get a scholarship off of the waitlist?
Maybe, but don’t count on it. Keep in mind that when schools extend scholarship offers in earlier rounds, they extend way more than they anticipate will be accepted. This means that when someone with a scholarship declines their offer that money doesn’t go “back into the pool” to be reallocated to someone else - the school has already anticipated a certain amount of attrition. [Insert ways on GMAT Club to learn about financial aid]


Q. How does adcom look at Waitlist Updates?
If you’re on the waitlist it means that you’re admissible - it's just that there are a competitive set of candidates also in consideration. One thing that is difficult for candidates to understand is that there may not be glaring deficiencies in your application and therefore not much you can do in your waitlist update to really move the needle. In a lot of ways the updates make candidates feel that they have agency to provide additional information but the reality is most of the information you might share is probably not going to offer substantially different inputs than what they already have available through the app you spent a lot of time on and just submitted a few months ago. The one caveat here is that they may not know how interested you are in the school and why you feel the school might be a good fit, other than what they may have gathered from your interview. In addition to any professional updates or a new test score, your waitlist update could be a good opportunity to share authentically why you are interested in the school and why the program is a good fit for you personally. They know you’re qualified, but this may help to show who you are “beyond the application” and allow the admissions committee to envision you as a student.


Q. What should be my strategy when it comes to sending WL updates? How can I make my updates count?
Waitlist updates are your chance to communicate with the admissions committee - new test score, new professional updates, or simply an indication of why you think that particular program would be a good fit for you personally.

a. Authenticity + Personality: It’s OK to show some authenticity and personality in your update while still remaining professional - admissions committees are trying to get a better feel for who you might be a student and subsequent alum of the program in addition to the qualifications that you bring. If you’ve talked to students or alums recently, don’t hesitate to share their names and what you learned from them that helped you further assess fit.

b. Clarity and brevity: Don’t be afraid to separate your update into different sections with bolded headers at the top to indicate the key points you’re trying to convey. They are going to be reviewing waitlist updates pretty quickly and you want to make sure your key takeaways are clear. It’s OK to use the space you need to get your update(s) across but keep in mind that less may be more. Taking multiple sentences to basically convey “I was added to a new client project at work” isn’t needed - what is the content of the situation, what are the actions you’ve taken or will take, and what is the result or conclusion for the admissions committee?

c. Taking MBA Math or a one-off course doesn’t matter much: If your test score is low and you have it in you, re-take the test. If you have a 710 and are on the waitlist for a school with a 730, they’re still going to have to average your below average test score when they present their class profile. There won’t be an asterisk on the class profile that says “but the guy with a 710 took MBA Math”. Obviously taking MBA Math or a one-off class is only going to help you prepare for business school but it’s not likely to influence the admissions committee’s decision on your waitlist status in the same way as boosting your test score above the average might.

d. How often should you submit a waitlist update: First and foremost, follow the guidelines of the school. The last thing you want to do is drive them nuts by not following directions. That said, there are many schools that offer very vague guidance on how often you should submit an update and what to include. There are a few things to consider here: waitlist updates may be reviewed more closely when an admissions team is getting ready to admit their next wave of applicants - like in conjunction with their next admissions release date. Sending an update within a few weeks of the next admissions release date (i.e, Round 3 decisions in May) could prove timely.


Q. I have an upcoming decision deadline for another program or date by which I need to sign a lease - should I let them know?
Yes. There’s no harm in thoughtfully and politely letting them know you have other considerations to attend to, even as you express your strong interest in getting off of the waitlist. They may not be able to give you an answer on the timeframe you desire but at least you can ask.


Q. I’ve been accepted to one school but I’m on the waitlist for my target school - should I accept the offer I have, wait for my target school to respond?
If it were me, I would accept the offer I had in hand (if I could truly picture myself attending that school) and wait to hear from my target school until the end of May. At some point, you need to cut the waitlist school loose so you can focus on finding housing, getting to know classmates, getting your I20 (international students) and preparing for the school you’ll attend.


Q. Should I reapply next year if I don’t get into my target school? Does it look bad if I reapply?
Whether you attend your “second choice” or backup school or reapply next year depends on you, where you are professionally (do you really want to wait another 18 months to go to school), and how well the school to which you’ve been admitted will help you reach your post-MBA career goals. Your chance of admission next year will depend on next year’s applicant pool and how you strengthen your candidacy - will the applicant pool be more competitive? Less competitive? Will you have a chance to grow professionally in the next year or increase your test score? Although it’s a good sign that you were admitted to a particular program this year, and that may bode well for next year, there’s no guarantee that you’ll get into the same program(s) again. It really depends on the competitiveness of your candidacy against the rest of next year’s applicant pool. Schools welcome reapplicants and every year admit many candidates who previously applied. Think about the ways you can strengthen your candidacy over the next 5 - 8 months – are you up for a promotion? Can you take on more stretch projects and leadership assignments at work? Do you have any opportunity to strengthen your test score? You don’t have to apply in Round 1 next year just because you applied this year. If you think your candidacy will be stronger in Round 2 with a little more time under your belt to demonstrate your achievements, apply in Round 2.


Comment below if you'd like to know anything else about the waitlist apart from the topics covered/planned!

Other GMATClub Resources for Waitlisted Applicants
How to Get Off a Waitlist? MBA Waitlist Strategies