One thing I've learned from this entire application process is that it's not always fair. And I still can't understand how it works. I have friends who got into Harvard, but were rejected by Wharton and NYU. There's no rhyme or reason sometimes for how the adcom makes decisions. Last year, I should've posted on this board.. dings from Harvard, Stanford, Wharton, Kellogg and Sloan, but with a 740 gmat, 3.2 GPA, 4 years WE at a top Fortune 500 company and a relatively unique profile. I did get interviews at all, though.
It's not easy to "improve" your application when there's no glaring area of weakness, but here's what I figured out and how I improved my application and got into Wharton, Booth, Kellogg and possibly Columbia this year (only ding was HBS and I already knew they don't like re-applicants).
1) Recommendations: My recommenders last time were nice but I never gave them any guidance on what to focus on. This time, I sat down with each of my recommenders to discuss what I'd done in the last few years. First off, I was on the same page as my recommenders on my strengths and weaknesses, so I knew not to tout something they considered a weakness as a strength on my application. Additionally, I also knew how to explain my weaknesses in my essays. Also, by talking with them, I found that they could highlight different areas of my application so that I could have more room in my essays to showcase other facets.
2) Essays: Frankly, I thought mine were fine the first time. For the re-apps, I did edit and add how I'd improved in the last year. But I made sure to first write a list of all of the key stories I wanted to write about, I determined what strengths they described, and then picked applicable stories for each schools, making sure that I'd covered all of the leadership dimensions I wanted. Anyway, make sure you highlight your uniqueness in your essays. There are definitely too many cookie cutter models out there, so anything to show how you are different will make a big difference.
3) Interviews: For those of you who did interview, did you feel like it was your best version of yourself? No? Neither did I. Honestly though, neither were my Wharton and Kellogg interviews this year. I thought they were horrible. Very brief, I felt like I was rambling, etc.. So definitely not my strong area. But, it obviously didn't make a difference. Anyway, I'd still definitely recommend practicing
Also, last year, people told me that I had to interview on campus. That's not true. I didn't interview on campus this go around (barring Tuck) and if anything, it helped me. If you want to visit the campus, sure, go interview there. But don't JUST interview on campus because you think you'll have no shot otherwise.
4) Relation to the school: This one was huge (in my opinion). Make sure the schools know that you like them. Not just by applying to them or visiting them once or twice (as I mentioned in the last section, not compulsory).. Meet alumni, get to know alumni in your company (perhaps they could become a future recommender), go to events, research the school, be able to talk about specific attributes of the school in your essays / interviews (i.e. how it's too bad that the Manhattanville campus won't be complete for at least another 5 years, but that you'll love going to Uris, etc...) Also, especially if you plan on moving back to the same area post-graduation, find out how you can help your local alumni community. Unless you're going to a huge MBA hub like NYC, San Francisco, Chicago, etc..., most other cities may have smaller alumni chapters so they'd love to bring you back to their area. Just show the local alumni chapters how you can make a difference and that will go a long way.
5) Yourself: Even with all of these areas covered, it doesn't hurt to improve yourself as well. Try to seek out more leadership opportunities, both at work and outside of work. The one good thing about re-applying? It takes much less time! Seriously, I spent ~50% less time this year on applications than I did last year. That means you'll have more time to spend on other activities, so get involved in your community, learn more about your intended post-MBA career, etc..
I seriously wish you all the best of luck. I certainly know how depressing it is when you know you're a solid candidate for these schools and you get rejected outright. But let me tell you.. that makes the happiness so much more intense when you get in the second time
I know, not much consolation now but I know you all will feel it next year!!