You could wait one more deadline round. You could wait until next year. Or maybe you could wait until your career slows down. These are all important considerations, but the truth is that there will never be some ideal, perfectly convenient time to pursue an MBA, especially if your career is in full swing because the demands on your time will only continue to increase. Why not do it now? I would say that there are three things you should consider if you're contemplating whether to submit a B-School application:

1. Are you ready for more career momentum?
If so, chances are you may need a new skill set to get to and excel at the next level, and waiting won’t improve your situation. In fact it may slow the career momentum you’ve already built.

2. Are you in the right job? If not, how do you get there?
Look around your company. What job do you want in the next few years? Where do you ultimately want to land? To get to where you want to go, more formal training — skills that are hard to get on the job — may be needed. If not, you would have already picked up those skills.

3. Are you ready for a new path?
If you aren’t on the right path, changing the status quo is essential. Another year doing the same thing will erode your ability to leverage the skills from your current role to the job of your dreams. For career switchers, timing is everything.