I do think the interview is important. Basically a 2nd year student tells the adcom her/his opinion on whether you will be a good addition to the Fuqua community. The school also stresses heavily on your stats (GMAT, GPA etc) if you are from an overrepresented population.
I really wasn’t told why I was rejected. After some self reflection, I spoke to many adcom members at networking events after and was told it could have been a myriad of reasons (stats, feasibility of goals, luck, interview reports)
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