You wrote -
One question: in one of your earlier posts you mentioned that you believe reapplicants are generally at a disadvantage;
. Damn, I said that?
Shieeeet. I knew I shouldn't have clicked on this post.
Shifting gears, thanks for the props on my sense of humor.
Seriously, I do still believe in Santa and that re-applicant status generally place you at a disadvantage. However, the extent of this is specific to the individual programs you are applying to. I'm not sure how many of my other posts you have read, but I always state that you have to examine the actual re-Application form. How many essays do they allow you to fill out? In this case, but more the merrier. But more essays, you simply have a better chance of telling the admissions committee a story that makes sense for that school.
There are a few factors that are moving in your favor. Reapplying this year means the number of years of work experience, which was previously at the low range, will be more competitive if you picked up some management roles. Being wait-listed is a good indication that your essays were probably pretty solid and that the adcom deemed you worthy of admittance, but you just needed a bit more of something to break on through to the other side.
So what could that "bit more of something" actually be? Well, I would say that you probably need to tailor your goals a bit more. I'm not a big fan of the private equity goal. The number one factor with respect to a short-term goal is your ability to actually obtain a position. This is why I always told my clients to be more of a generalist and to broaden their horizons. What the hell does that mean in plain English? It means that you do not want to pigeonhole yourself into a proposed career track that may only have a small number of available positions open for recent MBA graduates. So private equity is a hard sell, even if you are already in the industry. I would suggest that you look for something more general at an investment bank or even within M&A advisory with a consulting firm. To be clear, your current goals are not too far fetched to the point of being unappealing to an adcom member (you did get waitlisted after all), but your short term goal has to come off as a completely logical (attainable) next step in your career (while the long term can be loftier, but still practical.) What few applicants understand is the extent to which the career center is involved in the application process. Many a career center director has a spot on the admissions committee. I believe this is true at Columbia and Texas for example.
With respect to waiting another year for new applicant status, it likely will not
help your chances. At 28, you don't yet run the risk of being weeded out for your age, but you were so close last time that a little tweaking should get you in the door. Your additional 2 years of work experience (today) should enable you to further demonstrate progress in your career and a better understanding of your goals.
Thanks so much for the insight and humor demonstrated in your other responses! I am wondering about my chances at schools such as Booth, Kellogg or Ross.
GMAT: 730 (45V 45Q) – a little concerned with the low Q here (74th %ile when I took it, probably worse now)
Undergrad: 3.4 GPA from a well-known liberal arts college – double major in Economics (slightly above 3.0 gpa – low) and Mandarin (3.8 gpa) – graduated May, 2007. I also have a short alt. transcript w/ As in Calculus and Statistics from NYU SCPS.
Work Exp: Approx 4 years financial compliance, first at two large asset management firms, currently at a top PE firm (think blackstone, kkr, carlyle). Originally was focusing on the worst/most unimpressive areas such as code of ethics (employee personal trading, compliance certifications); now working on legal/compliance aspects of due diligence process for deal teams, regulatory filings for IPOs/secondaries, information barrier/business selection, anti-money laundering, etc. Should be able to get excellent recs from manager and other senior members of team.
ECs: 2.5 years of steady involvement with a well-known NY-based charity group, became team leader at the end of 2011 and currently leading and new (and surprisingly successful) project to teach English to recent Chinese immigrants in NY looking to prepare for the US citizenship exam. light involvement with alumni association.
Personal: International background (grew up between Japan and the US). Fluent in Japanese. Conversant in Mandarin (was one of my college majors as well as my family background on father's side)
Why B-School: transition into equity research or asset management. Would like to be a portfolio manager in the long term, focusing on Asian Technology stocks. My greatest concern in my profile is whether making this kind of transition is realistic (I assume that if not, the adcom wouldn't admit me based on unrealistic professional goals).
Note: I applied to schools the schools listed above two years ago (2010-2011 application) and didnt get in any. Straight dings from CBS/Kellogg. Was WL’d for Booth from R1 until end of August, and Ross from R2 until end of August. One question: in one of your earlier posts you mentioned that you believe reapplicants are generally at a disadvantage; would it be better to wait an additional year to apply (thereby making me a "new" applicant again the eyes of my schools, which consider reapplicants only from the past two years) if I were able to continue on an upward career trajectory and otherwise continue to strengthen my profile?
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