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gap in employment

by zoolie » Tue Dec 02, 2008 3:51 pm
Any advice on my situation would be much appreciated.

I graduated from an ivy league with a 3.7/4.0 and worked in Investment Banking for 3 years at a bulge bracket. After working for 3 years as an analyst I was burnt out and took an opportunity to travel for 6 months, something I had always wanted to pursue since my undergrad major prevented me from studying abroad. After traveling I have had difficulty finding employment as my previous position was in leveraged finance, a market that has since collapsed. It has been a full year since I have worked. I do know I could get great recs from my old supervisors.

My question: Do you think it is worthwhile applying to b-school for fall '09 with this major gap in employment (I am currently not working)?
Or do you think I should find something to expand my skill set from now until fall of '09 and then apply for fall '10.

THANKS in advance for any input!
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by Eliot » Tue Dec 02, 2008 4:48 pm
Zoolie,

Thanks for your note. Your solid academics and 3 years of I banking experience gives you the raw materials to be competitive at top schools.

As you can guess, the key issue you face is your gap in employment. To successfully address a gap in employment, ideally you need to convey these three things:
1) You left your last job on good terms (not fired for performance)
2) You were productive during your time off (traveling, volunteering, etc)
3) You have since gained a new job that is consistent with your future career.

It sounds like you left your last job on good terms and that you spent the first 6 months of your gap traveling. Hopefully you can show that the last 6 months were spent in a productive manner as well. Thus, your current task is to address the third point.

Obviously, I realize that the job market is tough these days, but I strongly suggest that you try to line up something soon. You will be at a disadvantage if you apply to business school with a 12 month gap in employment and without at least a plausible path to employment in 2009.

If you are able to line up a new job by January, then you could apply in Round 2 with a good response to the gap in employment issue. However, if you need more time to line up a job/internship, then you might consider waiting another year to apply. Feel free to contact me if you have any further questions about your strategy.

Sincerely,

Eliot Ingram
Clear Admit LLC
Eliot Ingram
Clear Admit, LLC
[email protected]
215 568 2590

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