Analysis of time lapses measured by their answers to questions on when they first considered pursuing an MBA, when they applied, and when they matriculated confirms the existence of an extended decision process (summarized in Figure 1). In the beginning, a decision is made on whether to pursue a graduate degree—a categorical decision that answers the
question, “Is an MBA right for me?” (stage 1). Once a prospective student decides to pursue a graduate degree, another decision is required—a brand-level decision that answers the question, “Where should I pursue the degree?” (stage 2). Finally, the prospective student has to decide where to enroll (stage 3). This paper analyzes the decision-making processes at stages 2 and 3—the decisions to apply to graduate business school and to enroll in a specific school