Host: What are these "rounds" that I keep hearing about?
David Petersam: Most business schools use the application round system and what that means is they are going to have set dates by which you need to submit your application then they are going to review all those applications in a group and make their accept-reject wait list decisions on them. Other schools do not have a round system. It is pretty much first-come first-serve, know as the ruling system. When there is a round system in place, the general rule of thumb is the earlier you apply, the better. However, your caveat is, you have to all set that with making sure you submit an application that reflects 100% of your best effort.