What should I do to maximize chances for HBS?

[Candide]

Background: Asian Canadian
Undergraduate: Economics-related subject at Oxbridge
Academics: equivalent of around 3.95 in first year (top 5%), but likely graduating with overall 3.8 as a result of distraction from job search
EC: president of an 80-year old society with +1500 members, founder of a philosophical discussion group, founder of a research organization introducing undergraduate economics research and establishing a research fellowship
Career: working in top 3 (GS/MS/JPM) IB in Hong Kong
GMAT: ~740 from practice exams

1.) Would the GPA drop (~3.7) in the 2nd year be very detrimental?
2.) I'm about to finish my penultimate year, when would be ideal to ask for academic references?
3.) Which application pool would I be placed in given that I have Canadian citizenship, studied in Europe, and will be working in HK?
4.) What areas should I focus on for the next 2-3 years to maximize my chance for HBS?
5.) How many years of work experience would be ideal before applying? (graduating at 21)
6.) In your experience, is reapplication viewed negatively?
7.) Would you recommend applying to another school beforehand for the sake of the application experience?

Sorry if some of these questions seem a little extreme. I wanted to prepare as much as possible.

Any advice greatly appreciated!

[Lisa Anderson]

Dear Candide,

A small drop in your GPA from 3.9 to 3.7 will not be detrimental. If you dropped to a 3.0, then that might raise a concern and require an explanation, but a small movement is not something that will cause concern. Academic references are not as important for business school as for other graduate programs as most business schools would prefer professional references. It is best for your references to be as recent as possible, so a letter you obtain during your last year that you plan to use 3-5 years later is not going to be of much use. You will need to get letters during the time you are applying.

To maxmize your chances for any business school, you want to have a solid track record in your professional experience, be involved in activities outside of work, and do well on your GMAT when the time comes. How much work experience is up to you on when you feel you are ready, but most school prefer at least two years. Re-applying to a school is not a negative and can be a positive if you get feedback and address the concerns the admissions committee had that led to the rejection. If you re-apply with the same application, the result will most likely be the same.

Applying "for experience" is not a good idea and I don't recommend it. All schools assume that if you take the time to submit an application, then you are ready to go to business school and will consider an offer of admission thoughtfully should one be presented. Learning you went through the application process for practice will earn you no favor and would definitely jeopardize your chances at the school in the future. Nevertheless, I can't say it doesn't happen and you are free to do what you want.

On a final note, I do encourage you to continue to do some research on the MBA admissions process. I think you will find it helpful as you navigate the coming years and think about applying to business school in the future.

Good luck,
Lisa