How many applications do I need to submit?

This is a tough decision that most applicants face. If you apply to very few b-schools, you risk not getting accepted. This is a bad situation as you have to get started on the application process all over again in the next year. On the other hand, if you apply to too many B-schools, you end up spending a lot of time and money. Have a look at the application costs listed below:

• 100$-200$ on the application.
• 20$ or so for each additional score report for TOEFL and GMAT.
• 20$ or higher for sending your transcripts.

Other than this, you also need to spend a lot of time preparing the essays, getting recommendations and filling in applications for each college.

The best way to go about this is by placing b-schools in three categories:

1. Aspirational
2. Reach and
3. Safety

Aspirational colleges are colleges that you would die to get into but are quite tough. Reach colleges are colleges that will fit into your profile and desirable. The last item of the list, safety colleges are colleges which are not exactly the most desirable but are those where you can be certain of acceptance. I suggest that you have at least two colleges in each category. For example, see a list of colleges that I applied to:

1. Aspirational - Chicago GSB & Babson College
2. Reach-UC Berkeley, Ross (University of Michigan)
3. Safety- William E.Simon (University of Chicago), McCombs (University of Texas)

I hope this was of some use to you.