Not working will hurt your chances. It is very late to start applying for next fall, however, if you are applying for fall 2012, you have time to do something about your work experience. Even if you can't work full time overseas, try to find a volunteer position that will give you some business exposure. Schools will appreciate that you are staying involved in business issues and building skills, even if unpaid. With your banking background you might be able to volunteer accounting or financial analysis and planning for a not-for-profit in your town.

You could also talk to the admissions department in the schools in your area. They might consider you for a part-time program if you still need to be home with your son. Part-time programs are easier to get into because they draw from a limited geographic area.

Good luck,