Apologies in advance for what will be a shorter reply than I normally give, but I wanted to make sure to get to your question.
First, know that the "agism" angle in admissions circles has been dialed back a bit since last year. There was a lot of chatter about schools going younger in 2009, but that seems to be as much a byproduct of hiring issues (problems placing grads can sometimes lead to a preference for younger applicants who will become younger - read, cheaper - graduates) and general confusion as any true changing of the guard. Most of the top schools - including UCLA Anderson - are still very interested in compiling a complete, diverse class and that includes age.
The question of whether to pursue FEMBA or FT at Anderson comes down to two things: 1) which do you prefer? 2) which is more appropriate for you at this time. The first one is easy to answer and you have already done so. The second is more difficult. What are you really trying to achieve and which program will allow you to do it most effectively. If you believe it is the FT program, your job is to convince the admissions committee of this fact. Why an MBA? Why now? Why Anderson? Those are always key questions for any applicant, but will be extra important in your case. You will have to make the hard sell and show them that your career plan makes sense and that you will be a top flight contributor in your class.
As you may know, I am a graduate of Anderson and we specialize in helping candidates pick the right UCLA Anderson program and then forward the best possible application. If you'd like to get into this in more detail, PM me and we'll arrange a consultation.
In the meantime, know that that the boat has not sailed - you just have a little more work to do to explain your situation. Good luck and thank you for the kind words.
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