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Profile: White male, late-30's, mixed career from entertainment to corporate communications to non-profit, planning on getting MBA to switch to venture capital. Already accepted at two top twenty Executive MBA weekend programs.

A few months ago, I had been admitted to one of the NY area executive MBA programs, where I have been planning on starting in January. My plan was to work full time while getting my MBA. My organization was supportive even though they knew I would use b-school to switch careers.

In a completely unrelated event (for lack of funding), I was let go last week from my job. I can support myself for the next couple of years while I go to school and look for new work.

Here are my questions to those familiar with these programs:

Do I have an obligation to tell the school that I lost my job? Would I be in jeopardy of losing my seat? Would they suggest I re-apply for a full time program (not my preference)?

I plan on speaking with career services upon my arrival in January, but wanted to collect advice prior to doing so. Thank you all for your help.

Paul

Sorry to hear about the job, but you present a very interesting question. And I imagine it is not that unusual considering the times. I would be very interested to hear what the experts say here as they have contact with adcoms and may be familiar with this situation.

My advice would be to start the program and don't look back. In 10, 20 years, you may thank your former self.

Thanks. But does a school ever change a students status if his work status changes?

Paul,

I don't know your specific schools' policies, but my sense is that you are not under an obligation to inform them that you were laid off per se, but if your being laid off affects your financial obligation/agreement to the school in any way, you need to disclose it. That is, if the terms under which you which have received loans, scholarships, etc. from the school require disclosure of any changes in your financial status, then you may need to let them know. If not, if you can afford to pay your own way without your company, then I don't believe you would need to tell them. Of course, it could easily come up in the daily context of class participation etc. so I would recommend you move on to a new situation ASAP. I hope this helps.

--Paul