bentgmat
recent gsb grad here. r3 is kind of a hail mary imo. there are very, very few people admitted that round, and the classmates I had who were r3 were very, very special. you may very well be special - if you have 3 years full-time work experience, you must have graduated undergrad early which is impressive. the youngest in my class were 24 upon school start, with 2 years of experience when school started. there was only one person under 24; 21, had graduated undergrad super early and was genius IQ.
if you're counting working full-time as doing a start-up during undergrad, and you actually only graduated 2 years ago, that's a completely diff story and I'd suggest against r3 unless you have a super amazing story and background.
good luck!!
This +1.
I would also add that age is a factor (regardless of what people say), but it isn't a deciding factor. I doubt very much that these top elite MBA programs want a room full of 22 year old kids any more than they want a room full of old farts like me (I'm 34, so applying from the other end of the age spectrum). My guess is that they will accept a few of us on the edges of the spectrum, but the story has to be compelling and we have to bring something meaningful to the school. I do think that if you are on the young side, WE counts much more than age -- so in your case, if you in fact have 3 years of full-time post-undergrad WE, then you are right in the sweet spot and not on the fringe.
That said, why the urgency for R3? You are certainly young enough that you could wait until next fall, nail your GMAT, and apply in R1 when you have much better odds. You'll still be one of the younger people in the class, and you would have an opportunity to present a much more polished application and greatly increase your chances of admission. Old people like me are the ones who should be in a hurry... if I wait until next year's cycle, I'll be 100.
Best of luck to you in whatever you decide!
-Crucial (the old fart)
"Slow down, you crazy child; you're so ambitious for juvenile..." -- Billy Joel