The prospect of securing an MBA admission while you’re yet to complete your undergrad is quite exciting, isn’t it? And that's exactly why schools across, including a few of the ivy leagues, offer deferred admission programs to cater to the varied professional requirements of the candidates.
Right from Harvard's 2+2 program, Stanford GSB and Chicago Booth's deferred programs, to ISB's YLP program, undergraduates now have a myriad of options to choose from! The glorious Yale SOM also offers a niche program exclusively for candidates fresh out of college - The Yale Silver Scholars Program.
Yale Silver Scholars program was initiated in 2001, as part of the Yale SOM’s 25th anniversary. It was initially started for the undergraduate students of Yale but the program later opened its doors to college seniors across the globe.
The program intends to develop the basic skills and mindset of a manager in recent college graduates by offering a unique curriculum and a holistic learning environment. Unlike any other deferred MBA, the Yale Silver Scholars program offers a three-year rigorous extended program with a mandatory full-time internship.
The first year acts as a booster, providing the scholars with a requisite foundation to understand the workings of an organization. The year focuses on a dedicated core curriculum, covering the basics of various management subjects such as accounting, global macroeconomy, and probability modeling to name a few. The scholars share the classes with the incoming students of Yale SOM MBA, paving a way to foster deep connections and learn from a vicarious pool of experienced professionals.
In their second year, the scholars take up full-time internships. The idea of the “gap year” is for the students to apply all the basics learned in the first year during this period and further explore their interests and solidify their understanding. This gap period traditionally lasts one year, but can be extended by one or two years more to take better advantage of the excellent career opportunities.
With all the valuable experience and exposure, the students return to the classroom for their final year. Based on their interests, the scholars can choose their preferred electives from the myriad of classes offered to advance their careers. The electives include but are not limited to subjects such as policy modeling, game theory, and graphic designing.
The top three sectors that the scholars venture in to post the program are consulting, technology, and investment banking!
Who can apply?
Current college seniors are eligible to apply. If you’re doing a 3-year course, you can apply in your final year. The admission to the program is extremely selective. The program offers a rich and vibrant experience for the scholars. The cohort, consisting of 10-15 scholars, is extremely diverse and is typically dominated by students hailing from the humanities, social sciences, or economics background.
The application remains the same for both the silver scholars' and the Yale SOM MBA applicants. However, the scholars aren’t required to fill out the work experience and post-undergraduate activity sections. The Yale Silver Scholars program has three application rounds every year.
The application includes a completed application form, GMAT/GRE score, academic records, a one-page resume, essay, and two letters of recommendation.
GMAT/GRE: The median class scores are 720 for GMAT and 164 for GRE
Essay: The application has one required essay, which asks you to describe the biggest commitment you have ever made with a word limit of 500 words
Letter of recommendation: Two LORs are required- One from your academic professor and one from a direct manager at any of your internships or volunteer organizations
P.S: The last round for the 2021 intake is on April 13th!
To summarize, this Yale Silver Scholar's is an excellent option for college seniors looking to pursue an MBA from an Ivy-League school. The program definitely provides the scholars with a jumpstart and clarity early on in their professional life. However, it is wise to consider if the program is the right fit for your career goals. The MBA experience requires high rigor and active participation and having prior work experience helps one make the most of the experience. At that age, sans corporate exposure, it is difficult to have clarity on the various career options available.
So, if you aspire to be a Yale SOM’s Silver Scholar, you must explore your match in terms of eligibility and the program’s fit for your professional goals.