Hello,
There are two key things that might be the reasons your applications are “under-performing” in terms of results:
1. The presentation itself – how you present your case through your application – may not be great. Considering how competitive these programs are (and you’re competing against the best in the world at Wharton, NYU, Columbia, etc.) you not only need to be qualified; that’s just a starting point. Your applications must be stellar, especially if you’re in a highly represented group, and they must really differentiate and distinguish you within your demographic and industry groups.
2. One or more of your recommendations may be undermining your applications.
To prepare for a new application cycle, I suggest taking a hard look at your
application presentation, and see if it might be improved. I’ve worked with many reapplicants to top programs over the years, and most of the time they are qualified, indeed well qualified, but they haven’t delivered compelling applications the first time around.
For
wait-list, start with the above step (critique your application) and if allowed/encouraged, write a wait-list letter that conveys relevant recent develops and directly or indirectly addresses application weaknesses you may perceive (e.g., you can briefly elaborate on goals and/or on your fit with and interest in the program).