The timeframe you describe is pretty typical for big accounting firms, and with the average WE approaching 5 years in b-school, it's not so much as the b-schools caring about the promotion as it is who will be trying to take that seat from you in your application pool. Certainly if there are two accountant applicants, one of which is trying to come to b-school after 2 years and one who is coming after 3 years, but they have the promotion, with all else being equal, the 3-year is the winner. Get my drift? if you want to go back with just 2 years at the firm, and by your own admission, before you have had to do the really heavy lifting, then how are you going to couch your experience as more valuable than the next guy. This devil's advocacy is not to say that it can't be done, but simply to challenge you to begin thinking like an admissions committee member. if you are committed to going back this year, you will simply need to innoculate this argument and offer something that can trump the guy with the extra year or two and the promotion. Either that, or suck it up and dig out for the promotion before you apply.
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Bryant Michaels
Admissions Consultant