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Strategies for difficult financial times

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Strategies for difficult financial times

by Indradeep » Mon Feb 09, 2009 3:43 am
Hi Admission Consultants,
This may be a very relevant question and I think some light from all of you would serve most of us who are looking at taking a very risky decision right now.
There will be lots loosing out on jobs right now and there will still be many more who proabably will.
On behalf of all of these people, my question is: How would AdComs react to a lay off?
If people, just in order to survive pick up a job that may not be in their domain anymore, would that be looked down upon? Specially since it may be projects that got closed and maybe, great performers having to loose their jobs?
What would be the things to do or take care of when we (God forbid) get into such a predicament as a lay off?
Is there any chance then, of us getting into the B schools of our choice anymore?
Furthermore, the final question is: If we do a job that is no longer technical but may be non profit or even somethig like teaching(just to survive), how is that perceived?
Then if I have been outright technical and want to do MBA in IT/Technical Leadership, do I now need to change my focus more towards a General Management or is there still chance for me to get admit into a technical MBA?
Please do answer us...
Even students may join in the discussion
Thanks a lot in anticipation...
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by Cindy Tokumitsu » Mon Feb 09, 2009 7:53 am
Hello,

The MBA programs are affected by the global economic downturn, and they understand that their applicants are affected too. Of course, it’s always best to be applying as a person employed in your chosen field, but that is the ideal scenario and many people are admitted to top programs without having every factor ideally in place. They gain acceptance by creating a compelling application that gives the “whole picture” clearly and persuasively, so that the adcom can see any less-than-ideal element in the broad context.

If you are laid off, and/or if you have to take a position that represents a compromise from your ideal career path, these points should be made clearly and succinctly in your application, with rationales provided.

However, you can do more than be reactive. You can turn the tables to show you are resourceful, thoughtful, creative, mature. If you find yourself in a less than ideal job situation, try to draw as much learning and growth as you can from that circumstance and write about it in your essays. This will show you to be resourceful and mature – someone who can gain and learn from any situation, not just their ideal. After all, anyone can thrive in ideal circumstances. Thriving in less than ideal circumstances shows strength, vision, creativity, etc. In addition, continue taking steps to learn about your goals and write about it – perhaps you can take professional association seminars, perhaps you can do informational interviews with people in your desired field/role, etc. If you take and write about such initiatives, that too will show you to be positive, resourceful, and thoughtful.

It’s hard to be a leader without having faced and overcome adversity. How you handle this difficult time can help the adcoms see you as mature and “seasoned” if you are proactive and positive.

Cindy Tokumitsu
Senior Editor, Accepted.com
www.Accepted.com
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