I have just been invited to review a paper submitted to a very good journal in my field, and I accepted the request.
However, I will also submit my last PhD application within the next couple of days. Naturally, I will not be able to submit the review this soon.
I am wondering whether I should include in my CV that I am a reviewer for this specific journal. I am not sure how this would be considered in a PhD application, but I think it would strengthen my profile, given that this will be the second most prestigious journal to which I will have provided a review.
Perhaps the question can be better worded as: at which point it is OK to disclose that you review for a journal, particularly in a job application? Is it as soon as you receive the invitation? As soon as you accept the invitation? As soon as you submit the review? As soon as the review process ends? Or after a significant amount of time has passed?