Reapplying Next Year?

Question

This may have been discussed elsewhere, but I did not see any threads after using the search function.

Obviously, this year was pretty bad year in terms of applying to b-school. Any number of threads on this board show lists of people who "should" have been admitted but were not due to the unusually high competition (congrats to those who did make it!). This begs the question, who is planning to apply again next year? Or more to the point, what are the expectations for next year? Given the state of the economy, it seems like it will be even harder to get in next year (though I have no way of quantifying this).

I am asking for input because I am on the very shortlist for a promotion at work that would put me at the post-mba level -- the promotion is not a question of "if" but of "when" and will probably happen in the next 1-4 months. Do people have opinions about how long one should reasonably expect to stay in a job after being promoted? Is one year acceptable? Since I struck out on b-school this year, I am planning to reapply next year and will likely have significantly stronger profile (promotion + finish CFA + possibly retake the GMAT). That being said, I have mixed emotions about taking a promotion into a high profile position at my company and simultaneously setting myself up to leave in a relatively short amount of time. Has anyone else faced this situation? Your thoughts are appreciated.

Edit: I should add also that next year would probably be my last chance to realistically pursue an MBA. I work in finance and the opportunity cost of taking two years off is staggering; it will only get worse as time goes on. That being said, I think I could benefit from an MBA because 1) I do not have a formal business background and probably would learn a lot; and 2) because I went to a state school and work at a smaller firm -- a top MBA would help me transition to a city / firm with more opportunities.

sudden · Answer

Anyone? I know it's kind of an incoherent mess of questions, but there has to be someone else who is/has been in a similar boat..

89nk · Answer

I am trying to break into the finance industry, and still a undergrad, so my input won't carry much weight, but I wanted to post and wish you luck on your reapply.

Generally, I would not think leaving after a year after a promotion would be a wrong. I mean you are working and putting in your value. However, I do not know how the finance industry works. I am guessing what you mean by staggering would be that your salary loss of two years would be greater then the salary gain post MBA. If that is the case, I would not go to business school, unless you want to go for personal reasons.

filmcity · Answer

I think there is nothing wrong to go for B-school even after getting a promotion.

I myself am in the same boat. I planned to matriculate this year and did not conceal my MBA plan in my workplace ( actually took all recos from my workplace, which is quite small). I have been admitted in 2 schools and been waitlisted in 1 and dinged from another 1. I was all set to leave for my MBA. But now feel that this year I really did not strategize my applications well. To my seniors, I conveyed this decision and also that I would re-apply . But I am expecting a promotion this month. I personally do not find anything unethical in this.

sam77sam7 · Answer

Filmcity,

What schools will you be declining invitation to so you can reapply next year? Seems unusual to apply to a school you wouldn't go to if you got in... perhaps you can elaborate?

~Sam

helg · Answer

More than acceptable IMHO. By all means, go for it, don't play the Noble "I Turn Down The Promotion Because I Go To MBA" Dude. Firstly, this will strengthen your re-application profile. Secondly, a promotion is in many ways a recognition of your achievements. If you deserve it, why should you turn it down?

Columbia08 · Answer

sudden, if I understand you correctly you're dilema is that your promotion will put you in a situation where the opportunity cost of B-school will no longer be worthwhile. If this is the case, then perhaps your promotion will raise your candidacy to the level of an executive MBA. I don't know where you live but if you're in NYC or close to any of the other great finance schools, you could then reapply for your MBA as an Exec. Just my two cents. I'm sorry for your predicament....this whole B-school process is #$%@ing up our lives! At the end of the day though, count your pluses and those will give you the strenght to turn your minuses into pluses.

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