Thanks for the posting and sorry things did not work out as planned. As you noted, you are applying to the top business schools in the world and by definition your competition is the strongest candidates from around the world. When shooting this high, you have to be ready for rejection -- as if you took an easier path and applied to less competitive programs you might have achieved different results.
The first question is about re-applying. You first of all have to determine what is different about your candidacy from last year. If you are applying with basically the same credentials, then your chances are admissions are small -- as the school rejected you last year so why would they all of a sudden want you this year. I know it hard to change your status in such a short time, but there are still things that can be done to really help create a new, more compelling candidacy. Next, not all schools are open to re-applicants. For instance, we have found HBS to be less welcoming -- as they do not want to admit their mistake made before. However, Wharton and Kellogg are much more open to re-applicants. I would really suggest that you strategically choose the schools that you apply to this time around as the schools on your list are very different and some will be more open to people with your background than others. Also, there might be a few schools that you might want to consider that are not on your list.
As for the quality of your application, it is very hard to determine how competitive it was. I know that you must have worked hard on it but I do not know it was competitive vis-a-vis other candidates. As a general rule, when I work with a re-applicant and read their application from previous years, it usually fell short of expectations and with some strategic advice from a consultant - could have been much better. I know you had friends check it for you -- but these people are not well versed on the quality of what needs to be submitted. The most frequent error that I see with unsuccessful candidates is that they did not answer the essay questions correctly.
As you are pursuing a major life event (applying to business school), I would recommend that you engage an admissions consultant to help you with the process. I would not want to see you put all the energy into this process again and end up with the same results. You have to be more strategic on most fronts. I know the process is very expensive, but it generally adds around 1% to the total cost of business school - not much when you think about it in those terms.
Senior Admissions Consultant Manhattan Review
Call for a free candidacy assessment.
Manhattan Review GMAT Prep & MBA Admissions Consulting
Web: http://www.manhattanreview.com | Phone: +1.212.316.2000
Receive 20% off Admissions Consultings as GMATClub member!