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dharde9
Should I specifically mention the target companies (eg: Barclays) and the target role/position which I'm looking for post MBA, if career goals question is asked in the Interview.I mean if I mention target companies that are major recruiters for that B Schools will ad com worry that if I didn't get into those companies I will be worried, does that work as Red Flag

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Flat answer: yes, you should. It shows clarity in goals, self-awareness, and points to the research you have done about a business school. Its good to mention a few companies instead of just one. Like, not Barclays but companies such as Barclays, Bank of America and HSBC. Mentioning only one name sounds like you are singularly focused on one organization and that doesn't reflect flexibilty, which can be harmful.
Also, go prepared with an alternate career goal or a plan B. If your first plan does not work out then you are willing to take another path to eventually get to the same long term goal.
Eventually, adcom will want to see that you have firm but logical career goals. And you are flexible enough to try another path if the first one does not work in your favour.

Mentioning the role is important. You need to clarify what you will do in a company, which function will you work in, what you will do/ learn there. The designation may be out of your control unless you join an IB or a consulting company where you would enter as an associate in all likelihood. So you don't have to mention the designation.

Hope that answers it.