Hi,
My question is regarding how laid off applicants are viewed.
I joined a financial analyst rotational program at a multinational firm after graduation in 2007. After completion of the program in July 2009, I joined a corporate strategy team working on various high-level internal consulting projects. During this period, I realized that I was ready to pursue an MBA and I planned to apply to bschools in fall 2010.
Unfortunately, due to a big firm restructuring, half my team has been laid off and I have been unemployed since late March 2010. Currently, I am actively seeking a new job.
If I do not find a job by the time I apply, or if I find a job that does not seem to fit in with my career progression (e.g. pay cut, different industry, less "glamorous" position, etc.), would this be viewed negatively by admissions committees?
Also, how do you suggest I write about this in my essays? Appreciate any constructive feedback.
Laid off before starting application process
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Hi daytripper,
Sorry to hear the news. The short answer is that a layoff is obviously not ideal from an MBA admissions standpoint, but admissions officers are actually fairly open-minded about it, especially in this economy. They key is to show that you stayed active and maintained momentum, rather than loafing around and just preparing your business school candidacy.
We actually produced a free white paper on this last year. This should answer a lot of your questions!
www.veritasprep.com/MBALayoffWhitepaper.pdf
Scott
Sorry to hear the news. The short answer is that a layoff is obviously not ideal from an MBA admissions standpoint, but admissions officers are actually fairly open-minded about it, especially in this economy. They key is to show that you stayed active and maintained momentum, rather than loafing around and just preparing your business school candidacy.
We actually produced a free white paper on this last year. This should answer a lot of your questions!
www.veritasprep.com/MBALayoffWhitepaper.pdf
Scott