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The Round 3 blues. What's that? Well, in all likelihood, it's the feeling you'll get if you put together a stellar application, but don't get it in until R3. For most schools, this is akin to putting a sign on your forehead that says "hey, go ahead, don't admit me, I dare you." Sure, we all procrastinate, but if there's any one time in your life that you should just bite the bullet and get something done, this is it. How much of a difference does it make? Well, to put it into perspective, last year Wharton accepted approximately 1,100 applicants. A grand total of 9, yes 9 (!) were accepted in R3.
While you may be tempted to wait with your most important applications until you've used the other ones to master your story, you run the risk of running out of time if you do that. If it's a choice between sending a slipshod, rushed, non-compelling application in an earlier round or waiting until R3, then you should certainly wait…but keep in mind that by doing so, you're making things much more difficult for yourself.
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