BADLY NEED SOME ADVICE!!!

Question

Hey people and experts here,

Need some help.I am from India and 26 years old.My gmat is 700 and have eight years of entreprenurial experience(family business diversification and startup pharma co.)(Started full time business even while studying.)
-Three years commerce degree with 68% agg.
-Advanced French language diploma
-Decent community service.

Rejected at HBS,Wharton and Booth.
Awaiting desicions from MIT Sloan,Kellogg,Nyu Stern,Emory,UNC-KF(interviewed),Tepper,UCLA Anderson and USC Marshall for the fall 2012 intake.
However,I have been admitted to Simon but for the January intake with 10k schol. per year.
What should i do now?I have to pay the enrollment deposit in 2 days and confirm the offer.Considering that I have not recieved interview invites from the schools till now,should I go to Simon while forgetting about the dream bschools(Option 1).

Or,Reapply to Simon(fall intake as they dont defer admissions) while waiting to hear from other schools and also applying to some more of the top 25 in the second round such as Tuck,Columbia,Ross,Cornell and make up my mind for fall(Option 2)

Based on my profile and my case,is the wait and the risk worth it??
Please suggest.
Thanks a ton in advance!!

sweeces · Answer

Think about it this way - you're prepared to drop $160K+ on a business school, does the deposit amount even matter? I would pay the deposit on Simon and be happy. If you get in at a better school that's just gravy. Forfeit your Simon deposit and move on (though hopefully you can leverage your Simon $10k for a scholarship on the other school).

dexter700 · Answer

Thanks for the reply sweeces!

I really wouldnt care about the deposit amount like you said but its beyond that!!
I will hear from these schools very late,some in Jan.I wont hear from Stern until Feb. and I have to do the visa process with the Simon 1-20 now if i want to join.Moreover,I think moving from one school to another would be kinda messy just in case i want to.
Its kinda betting on my chances. and i dont see the option of stretching things till I maximum can primarily because its January vs Fall too.

method · Answer

One, it's hard to say without knowing your career goals. 
Two, you must think very highly of yourself if you applied to Harvard, Wharton, Booth, Kellogg, and Sloan. If you applied to 5 of the top 6 programs in the United States, why did you apply to Simon and are you going to be happy there?

dexter700 · Answer

As I am an entrepreneur,I would,post MBA,go back to my company while also establish a new business.
Yes,While I agree that I should think highly,I was rejected by these top schools last year perhaps because I had applied in the round 3.
This time I wanted to apply to a little safer school too and yes I will certainly be happy there because I would ateast know that I gave a shot at the big ones!!!
Mine is a slightly different case as the concern here is because of the Jan vs Sept thing!!I just want to know ..do I have a chance and am I a good fit for these top tier schools.??

method · Answer

If you'd be happy to attend Simon and you're committed to this application year, then I agree that you should put the deposit down. As P&Q recently detailed, acceptance rates for international students can be much lower than the composite. Also, there's no way to guarantee you're getting into any of the ultra elites, even if your GMAT was 780 instead of 700.

Best to take the bird in the hand, especially if it's relatively cheap. I don't know what the deposit is at Simon, but I'm guessing $1500 or less?

Best to take the bird in the hand, especially if it's relatively cheap. I don't know what the deposit is at Simon, but I'm guessing $1500 or less?

dexter700 · Answer

Thanks for the feedback!
ok..its not only about the 3000 $ deposit.i really dont care even if I will have to forfiet that amount.Its about making a decision whether simon now ?or any big names later? or atleast simon later in the worst case.

I would regret if I get through stern and know that in feb when I will be completing my quarter at Simon.That said,If i dont get through,It would be the contrary!!:)
Feels like im playing a big roulette game in Vegas!!

dexter700 · Answer

Guys,

I have finally decided to target Fall intake while also applying to all other top bschools in round 2 while reapplying to Simon.
I know its a risky affair and would be a stretch at top schools but i will give it another shot!Afterall One life.One MBA!Right?

Thanks for posting and please comment on my decsion!!

arzad · Answer

dexter700:

Follow your dream and take risks. You already have money, so if you want to apply in round 2 to the top ten schools you should take that chance, and make sure you pick a safety school. Good luck in your applications.

dexter700 · Answer

Thanks a lot for your comment arzad!!

Ive been through this dilemma for a week and now finally took a firm decision!
I will do whatever it takes in this one month and hit round 2!:)

BADLY NEED SOME ADVICE!!!

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