I worked for a major financial services company for a little bit over 15 months; I recently found out I was laid off. I was planning to apply to MBA programs this fall. My undergraduate degree is from Northwestern; my top choice program is Kellogg. I was wondering how a layoff affects both your admission chances and how it exactly is perceived on an application.
Dear mp111684,
Being laid off is not a negative in the application process. Admissions committees understand what is happening in the markets. What will matter is what you do after being laid off. If you have a plan and secure employment, then you should be fine. If you don't have much of a plan and have nothing to put on your resume between now and fall 2010, then that will be a concern. Basically, they will want to see that you are doing something and continuing to develop as a professional. You don't have to necessarily do the same type of work; you can use this opportunity to do a 1 year internship or international program. Think about your future career goals and what experience might be beneficial towards those ends that you can do for the 16-18 months.
Good luck,
Lisa
