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Company gave me a promotion and asking me to stay. What to do?

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New post 11 Mar 2015, 17:27
Until recently I was working as an Associate Commodity Trader for a Commodity Trading company. I've had the opportunity to work in Ghana, Singapore, and Dallas. I decided to apply a year earlier than the average b-school applicant (5 years) because I was hoping my international exposure would cover up my lack of work experience.

Anyways I applied to the M7 schools in round 1 and got dinged at all of them. In round 2 applied to the top 20 schools. I am waiting to hear back from most of them in the next couple weeks. I already got into one of my round 2 schools back in Feb, at which point I decided to quit my job and come back home, help my father with the family business, and try to find a pre-MBA internship till August.

Now, a couple days ago my company called me and asked me if I would be interested in coming back if they gave me a promotion.

I think I have 2 options:
1) turn down the promotion.....stick to my originally plan and attend one of my round-2 schools
2) take the promotion..... turn down any admissions I get from my round-2 schools, which I'm assuming would forever ban me from gaining admission again if I choose to apply to these schools again in a couple years. HOWEVER, this option would provide me with an opportunity to reapply to the M7 schools with a promotion and an extra 1-2 years of work experience.

For reference I scored a 720 on my GMAT and have a 3.2 GPA from a top-20 college (I know my GPA is a little low for a M7 school, but it's also the one thing I can't change). I also volunteer as a GED Instructor at the library where I help high school dropouts pass their GED. I also practice Kendo, Japanese fencing, competitively.

I understand that it ultimately comes down to how much of a risk-taker I am, but I would like to know the what everyone thinks of Option#2 working out.

If you could help me with this dilemma, I'd greatly appreciate it.
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New post Updated on: 26 Aug 2015, 13:46
2
///

Originally posted by towski on 11 Mar 2015, 20:37.
Last edited by towski on 26 Aug 2015, 13:46, edited 1 time in total.
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Re: Company gave me a promotion and asking me to stay. What to do?  [#permalink]

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New post 12 Mar 2015, 10:44
1
I was in a similar situation also. I was ready to move on to the next phase of my career, but I got rejected from my top targets and had a promotion on the table from my current employer.

Ultimately I decided it didn't make sense to wait. The school I got into (Darden) offers comparable recruiting opportunities for what I'm interested in. And an extra year of work experience post-MBA is much more valuable than an extra year pre-MBA, both financially and in terms of career advancement. So while an M7 school on my resume would have been nice, it wasn't worth the wait - especially since it still wouldn't have been guaranteed. My company promoted me anyway even after I told them I was definitely leaving, so that was nice.

If going to an M7 school would drastically improve your chances of fulfilling your post-MBA career goals, then I would consider taking the promotion. But I wouldn't postpone my plans just to hold out for a more prestigious name.
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Re: Company gave me a promotion and asking me to stay. What to do?  [#permalink]

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New post 12 Mar 2015, 13:04
towski wrote:
taehyun89 wrote:
Until recently I was working as an Associate Commodity Trader for a Commodity Trading company. I've had the opportunity to work in Ghana, Singapore, and Dallas. I decided to apply a year earlier than the average b-school applicant (5 years) because I was hoping my international exposure would cover up my lack of work experience.

Anyways I applied to the M7 schools in round 1 and got dinged at all of them. In round 2 applied to the top 20 schools. I am waiting to hear back from most of them in the next couple weeks. I already got into one of my round 2 schools back in Feb, at which point I decided to quit my job and come back home, help my father with the family business, and try to find a pre-MBA internship till August.

Now, a couple days ago my company called me and asked me if I would be interested in coming back if they gave me a promotion.

I think I have 2 options:
1) turn down the promotion.....stick to my originally plan and attend one of my round-2 schools
2) take the promotion..... turn down any admissions I get from my round-2 schools, which I'm assuming would forever ban me from gaining admission again if I choose to apply to these schools again in a couple years. HOWEVER, this option would provide me with an opportunity to reapply to the M7 schools with a promotion and an extra 1-2 years of work experience.

For reference I scored a 720 on my GMAT and have a 3.2 GPA from a top-20 college (I know my GPA is a little low for a M7 school, but it's also the one thing I can't change). I also volunteer as a GED Instructor at the library where I help high school dropouts pass their GED. I also practice Kendo, Japanese fencing, competitively.

I understand that it ultimately comes down to how much of a risk-taker I am, but I would like to know the what everyone thinks of Option#2 working out.

If you could help me with this dilemma, I'd greatly appreciate it.

I was in a similar position last year. My company, where I enjoy working very much, offered me a promotion to stay on rather than attending an M7 school.

I feared that I would not be readmitted to business school down the line because I had already turned schools down. However, the schools were very understanding of the circumstances and I was able to gain admission again without even going through the full process (they said I would just be treated as a deferral).

I don't think that option #2 is particularly risky. This is moreso a matter of what you want to be doing for the next year, whether you would be willing to attend the school(s) to which you've been admitted, and whether another year of pre-MBA experience (read: age) may hurt your candidacy going forward. For some context, at the two admit weekends that I've attended, almost everyone had 4 years of work experience. Some had 2 or 3, but I was easily the highest with 6.



Could you expand more on the process you went through from saying you aren't going to attend to reapplying. I'm in the same situation, thinking I'm going to ride an upcoming promotion for another year and not go to school. I basically thought I had 0 chance of the school admitting me again next year, but your post really interests me.
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New post Updated on: 26 Aug 2015, 13:45
1
///

Originally posted by towski on 13 Mar 2015, 07:19.
Last edited by towski on 26 Aug 2015, 13:45, edited 1 time in total.
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Re: Company gave me a promotion and asking me to stay. What to do?  [#permalink]

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New post 13 Mar 2015, 10:40
basically agree with the other posts:
assume you can either defer or get re-admitted to the same school(s) next year
unless your new role is materially different and will equip you with a new skill set or experience, assume your odds won't increase next year
at the same time, assume age plays no role (the perception that age matters is widely inflated)

the real question is: would you be happier with the new role in your current company or the future role you get after business school? there's only one way to answer this question: talk to people who've been in each role and ask them how happy they are.
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New post 13 Mar 2015, 11:41
Thanks for the info guys. I don't want to hijack this thread but it seems like I'm in the same boat as the OP. My new position would move me out of a purely technical role and in to a higher position and one where I would learn skills I could apply to consulting. Most importantly it would make me more attractive to recruiters which is what I'm worried about the most. Secondly it would probably make me more attractive to b-schools, but I want to position myself the best I can for recruiting, so waiting a year might be my best bet.
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New post 14 Mar 2015, 16:40
Very interesting discussion! I might be faced with a similar situation in the future (we will see in two weeks). If I am granted admission, I will have to decide between differing a year and take the promotion or attending this year. I am currently 25 and will have 4 years of work experience if I am to attend this Fall. For me, the decision I make will be based on which option will help me to obtain my long term goal, and at this point it seems that getting my MBA this year makes more sense. So I would think long and hard about which route will help you fulfill your long term goal. That way if it makes more sense to defer and re-apply next year then the ad com will definitely understand your decision. Good luck!
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Re: Company gave me a promotion and asking me to stay. What to do?   [#permalink] 14 Mar 2015, 16:40
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