Raj: Thanks for the posting.
My biggest concern about your candidacy is your age. Many business schools may consider you a bit too old to transition to management consulting career -- especially since the time you graduate you will be near 35 years old. Most of the premier strategy consulting firms tend to recruit much younger candidates so these mare gong to be long-shots. The more mainstream consulting firms are your most logical option -- and even these firms have some age bias. This is really important as a school does not want to have you invest so much time, energy and effort if they are going to be unable to help you secure the career you desire.
The next issue is that you come from a very competitive demographic - and there are many more candidates from India applying to T-20 programs than there are allocated spots. To distinguish yourself, you are going to need a very high GMAT score as well as very strong applications -- essays, recommendations, resume, interview, etc. This will take a lot of investment on your behalf -- from time, to energy to money -- to make sure that these are as good as they can be.
Lastly, I recommend that you do a lot of research into various schools within the T-20 that would be best for you. My initial reaction is to recommend such schools as UNC, CMU, Texas, Notre Dame and Georgetown. If you want some reach schools, I would recommend Michigan, USC and UCLA.
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