Anxious about Gap year

Question

Hi everyone, I'm a doctor, and plan on applying for fall 2023 programs. I am currently preparing for gmat. I have 3 years of work experience. And from August 2020 to present day (1.5yrs) I haven't been employed at a hospital. Due to personal reasons I went to my hometown to spend time with my family, and got stuck there for a year. However, during this period I developed a strong interest in crypto and blockchain and started trading crypto. Even though I was living with my parents, except for food I haven't been dependent on them in any way. (I was making enough money trading crypto to pay my rent of the flat which I hadn't been able to vacate during covid lockdown, infact I made 800% total gain on my initial investment). My target schools are T20-T25 in USA. And Rotman, and Ivey in Canada. My post MBA goals are to work in strategy consulting. As a doctor an MBA from a any school below T30 isn't worth it. I would rather continue in my profession or look for alternatives(MS in blockchain). I am very anxious about how adcoms will perceive my gap year. Should I even consider an MBA from a decent school?

PS- I am currently looking for jobs. And would have 3yrs+ 1.5yr gap+ 7 months months work ex if I apply in R1 for fall 2023. And 3yrs+1.5yrs gap+1yr work ex if I apply in R2 for fall 2023.

Also, can medical private practice or trading be considered self employment? If so, what documents would I have to produce to the universities as proof of self employment?

PS- I am currently looking for jobs. And would have 3yrs+ 1.5yr gap+ 7 months months work ex if I apply in R1 for fall 2023. And 3yrs+1.5yrs gap+1yr work ex if I apply in R2 for fall 2023.

Also, can medical private practice or trading be considered self employment? If so, what documents would I have to produce to the universities as proof of self employment?

Admissionado · Answer

Hi brindapr , Thanks for reaching out to our community. Responding to your question: "Also, can medical private practice or trading be considered self employment? If so, what documents would I have to produce to the universities as proof of self employment?" I would argue that medical private practice would definitely be considered employment, not self-employment unless I missed something about the nature of your work there. You would have to describe your work, responsibilities, etc. (all covered in a resume.) You wouldn't have to show paperwork at this stage in the game - only if you were accepted for background check purposes. I would imagine you'd seek a letter of recommendation from someone involved in the practice, which would help validate your employment. As for crypto trading, I do not consider this self-employment. It will read more as an endeavor or an activity of sorts that you pursue, unless you had a very formal setup and perhaps even took outside money from limited partner investors. You would need to demonstrate this was a serious entrepreneurial efforts of sorts, otherwise it might look inadequate especially when compared to the experiences of the rest of the candidate pool for these competitive programs. It isn't impossible but it will be a heavy burden. Lastly, you would need to explain this career progression somewhere in your application. The optional essay would seem like a logical place but essays where you are asked to talk about your career to date could also work. Being frank, this whole setup is definitely tricky but not unnavigable. I strongly recommend you get in touch with my team if you'd like to discuss further. At Admissionado, we have seen it all and are always extremely scrappy when it comes to devising strategies ahead of and during the application season. https://admissionado.com/free-consultation/

brindapr · Answer

Thanks for replying!!

Medical private practice in India doesn't require any sort of special documentation. Any doctor can setup a home office OPD and start private practice. So, I'm afraid there won't be any proof of paperwork for the same if asked for during background check. How can we navigate this best? Or am I wasting my time dreaming about an MBA?

Admissionado · Answer

brindapr :

I would not worry about the background check. All of that can be managed if and when appropriate.

An MBA is not out of the question, but as we said, you need to be very creative and smart about how you approach this application. We also don't know a ton about you personally, your GPA/schooling, GMAT/GRE, etc. While I get that this overall picture is a big deal, there are clearly more elements to your profile that are worth taking into account.

It's hard to lay out a strategy based on a blog, so I would strongly urge you to get in touch with my team (or others you deem a best fit) so this can all be hashed out. At Admissionado, once you sign up for a consultant you get them from the beginning until the end of your application process. There's no time limit, so it might be worth it to you to consider us given how early you in contemplating this process. Plus, we're offering Early Bird specials now, so all the better!

brindapr · Answer

Thanks for the reply.

Filled out your free consultation form on Admissionado.

3Storms · Answer

Hi brindapr

It's easy to get caught up worrying about things like your gap year and how to fill it / explain it. But remember if your application captures critical unique elements of your background that speak to your value as a potential class member at a T30 program, then the AdCom will become a friendly, not an adversary. Your medical background can bring a lot of diversity to a class, so your main challenge is mapping a credible career transition story that logically runs through each MBA program to your target career thereafter.

Confidence in your fit with top MBA programs is key foundation for a successful start to your application process. It's also key to keeping your motivation high while prepping for the GMAT. We offer a free 1 hr brainstorm session that is the first step in building confidence about your application potential for your target schools. Let me know if you're interested or complete the form on the website below.

Anxious about Gap year

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