For your application, you should not be worried that you have hit some imaginary cut-off age.
Older candidates will face challenges because they need to prove that it makes sense to return to school at this stage of their career. You should demonstrate progression, tangible contributions, and a high level of self-awareness, confidence, and maturity. A 35-year-old applicant who has spent 15 years in the same position without showing significant growth or progression will have a hard time being admitted to a top school. But this is not because they are 35 or because of the 15 years of experience. Rather, it is because they may have not demonstrated growth during that time.
If you can show that business school is the right decision, you can have a good shot at getting into a program that is right for you.
Hope this was of help.
Conrad and the Stacy Blackman
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Stacy Blackman | Stacy Blackman Consulting Inc | http://www.StacyBlackman.com | +1 323.934.3936
MBA blogger, US News and Author, The MBA Application Roadmap