I write this post with sadness, and also to prevent myself from having a nervous breakdown.
Back in May, I was terminated. In early 2012, I asked my manager for an MBA recommendation and he gave me a conditional one. "I cannot give you one now. You complete this project for me and I'll give you a positive recommendation." The project was finished this January, past R2 deadlines for all schools. He wanted to write me a recommendation for R3 but I told him that would be crazy. So I pushed back my target applications to this year. This April, my team moved to a new department with a new head who made the decision to let me go. My boss' fund didn't generate enough fees to have two analysts, and since I was planning to leave anyway, I was the odd man out - so he says
On the somewhat positive side, they paid me a small severance and are letting me say that I resigned. I was hesitant about finding a job because I didn't want to burn bridges by joining a firm and leaving for an MBA in 9 months. So I started a company with a friend, but I am not taking a salary, and we have not seen revenues yet. I could care less about money at this point - I have enough saved to last five years. I've talked to a couple of consultants about my work history and they all said that while I had a strong profile in 2012 (strong enough for M7), because of what happened I'm pretty much toast at my target schools. I'd probably have to drop down to schools ranked 20-25, they said.
Anyway I'm not sure what to do. I'm applying this year and would appreciate any advice anyone could give me.
My profile:
- Undergrad ranked 20-25. 3.46 GPA, double major. Played varsity sports (Division 3)
- 760 GMAT (50Q / 44V)
- CFA Charter - Passed all 3 levels
- Will be 28 at matriculation
Most of my work experience has been in finance: - Graduated with offer from Lehman Brothers, offer rescinded before start date for obvious reasons.
- 18 Months in the back office as an analyst
- 6 Months in the back office as an associate. Different firm from above
- Almost 3 years in the front office as a junior investment analyst. Firm has over $200 Billion under management. Different firm from above.
- This new company I co-founded
(While the first 3 were not internal promotions, perhaps I could say they were external promotions - or I don't even know the correct term for this) - 12 Month stint as semi-professional gambler (part time work while I worked full time in the front office). Did well enough to do press interviews. I stopped because the platform I used shut down.
EC's (all since 2011): - Toastmasters - Co-Founded, elected president, got funding for chapter. No longer a member since it was a corporate club.
- Mentor high school student
- Run eBay side business (Did this in college and started it again in 2010)
- Wrote and self published a book. (eBook with no ISBN #, not related to Finance)
Other: - ORM (Opposite of URM). Not Indian though
- US Citizen
- Will get recommendations from two indirect supervisors. One from my very first job, and one from the job I left. I'm not going to ask my boss anymore. I don't feel I could trust someone who would give me an ultimatum like that
So what do you think? I'm applying this year, but doubtful if I get into any of my schools. I'm targeting MIT, Wharton, Booth, Columbia, NYU. Now I'm also adding Yale, Tuck, UVA, Cornell to that list and I'm even doubtful about those schools.
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13 Sep 2013, 16:44
