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24 Dec 2023, 03:12
Kudos
Bookmarks
Hi,
We have a family business that runs large operations ($25M annual sales). It is B2B, so not known that much. I am currently working at the family business. Should I report that it is a family business?
I am worried that
(1) Adcom will dismiss the letters of recommendation (even though I have always reported to someone other than my parents), as they might assume that they are biased?
(2) Will not give me a scholarship. I work with a salary that's average for my region and my role. A good MBA program will cost so much money, I can't afford it. My parents refused to support it financially, as they don't want me to do it.
(3) Will not take my accomplishments or promotions seriously, even though I have significantly built the company's department that i am working in.
(4) I only worked for a year outside the family business and in a different sector, so maybe they will say that he did not have the discipline to continue somewhere else.
I need true advice from the heart, please.
I looked up some consultants but they charge like $400 per session, and I am worried that they will over-complicate it and ask for more consultation sessions.
Thank you so much everyone!
We have a family business that runs large operations ($25M annual sales). It is B2B, so not known that much. I am currently working at the family business. Should I report that it is a family business?
I am worried that
(1) Adcom will dismiss the letters of recommendation (even though I have always reported to someone other than my parents), as they might assume that they are biased?
(2) Will not give me a scholarship. I work with a salary that's average for my region and my role. A good MBA program will cost so much money, I can't afford it. My parents refused to support it financially, as they don't want me to do it.
(3) Will not take my accomplishments or promotions seriously, even though I have significantly built the company's department that i am working in.
(4) I only worked for a year outside the family business and in a different sector, so maybe they will say that he did not have the discipline to continue somewhere else.
I need true advice from the heart, please.
I looked up some consultants but they charge like $400 per session, and I am worried that they will over-complicate it and ask for more consultation sessions.
Thank you so much everyone!
24 Dec 2023, 08:03
Kudos
Bookmarks
gg_wp_2023:
Responding:
Should I report that it is a family business?
A: Yes.
(1) Adcom will dismiss the letters of recommendation (even though I have always reported to someone other than my parents), as they might assume that they are biased?
A: Nope. It is evaluated on par with regular letters. You will not be the first person to be applying from a role in a family business, so don't worry.
(2) Will not give me a scholarship. I work with a salary that's average for my region and my role. A good MBA program will cost so much money, I can't afford it. My parents refused to support it financially, as they don't want me to do it.
A: That has nothing to do with a family business. You can apply for financial aid on your own merits. You should target schools (perhaps lower-ranked ones) for which you might qualify for a scholarship.
(3) Will not take my accomplishments or promotions seriously, even though I have significantly built the company's department that i am working in.
A: The onus is on you to show your worth through real accomplishments, the merits of your hard work, etc. as if you were working at a non-family business.
(4) I only worked for a year outside the family business and in a different sector, so maybe they will say that he did not have the discipline to continue somewhere else.
A: Not true.
It sounds like you have a lot of concerns and need a trusted adviser who will delineate rumor from truth.
A good consultant keeps things simple and honest. You might be better served taking some free consultations (perhaps based on referrals?) to see which ones, if any, resonate with you. GMATClub is great, but not a reliable source of advice on a day-to-day basis.
Admissionado
Responding:
Should I report that it is a family business?
A: Yes.
(1) Adcom will dismiss the letters of recommendation (even though I have always reported to someone other than my parents), as they might assume that they are biased?
A: Nope. It is evaluated on par with regular letters. You will not be the first person to be applying from a role in a family business, so don't worry.
(2) Will not give me a scholarship. I work with a salary that's average for my region and my role. A good MBA program will cost so much money, I can't afford it. My parents refused to support it financially, as they don't want me to do it.
A: That has nothing to do with a family business. You can apply for financial aid on your own merits. You should target schools (perhaps lower-ranked ones) for which you might qualify for a scholarship.
(3) Will not take my accomplishments or promotions seriously, even though I have significantly built the company's department that i am working in.
A: The onus is on you to show your worth through real accomplishments, the merits of your hard work, etc. as if you were working at a non-family business.
(4) I only worked for a year outside the family business and in a different sector, so maybe they will say that he did not have the discipline to continue somewhere else.
A: Not true.
It sounds like you have a lot of concerns and need a trusted adviser who will delineate rumor from truth.
A good consultant keeps things simple and honest. You might be better served taking some free consultations (perhaps based on referrals?) to see which ones, if any, resonate with you. GMATClub is great, but not a reliable source of advice on a day-to-day basis.
Admissionado
25 Dec 2023, 23:57
Kudos
Bookmarks
gg_wp_2023
Hello gg_wp_2023,
We have a family business that runs large operations ($25M annual sales). It is B2B, so not known that much. I am currently working at the family business. Should I report that it is a family business?
- Yes, you should let the Ad coms know
(1) Adcom will dismiss the letters of recommendation (even though I have always reported to someone other than my parents), as they might assume that they are biased?
- The Adcoms will not dismiss your LOR because you won't be the only one applying with a family business background from the whole cohort. They will refer to your LOR at par with the rest of them. Plus, a lot depends on how effectively your recommenders showcase your contribution to the growth of your family business.
(2) Will not give me a scholarship. I work with a salary that's average for my region and my role. A good MBA program will cost so much money, I can't afford it. My parents refused to support it financially, as they don't want me to do it.
- This is not true. Your chance of getting a scholarship or financial aid purely depends on your caliber and how you position yourself to the Adcoms for receiving maximum aid.
(3) Will not take my accomplishments or promotions seriously, even though I have significantly built the company's department that I am working in.
- You will need to step up and highlight your growth trajectory in the family business to the Adcoms. Take the onus and inform the university of every business decision you've taken, your failures, learnings, and achievements.
(4) I only worked for a year outside the family business and in a different sector, so maybe they will say that he did not have the discipline to continue somewhere else.
- This is not true. Your experience in your family business will be accounted for in your applications.
At this point, we understand your concerns. However, we strongly recommend you schedule 1 free profile audit consultation with our MBA experts who will handhold you through the process and help you make sound decisions.
Alternatively, you can also call us directly at +91 9820491179
